Berkshire Hathaway HomeServices Northwest Real Estate Federal Way & Puyallup

The final quarter of 2019 sees positive momentum building to end the year as the National Association of Realtors reports  This Week in Real Estate   that existing home sales rose nearly 2% last month. Furthermore, the Housing Market Index, which measures builder confidence, is experiencing the highest sentiment levels of 2019 the past two months.  Below  are a few highlights from the  third  week of  November  that influence our business: *  Existing Home Sales Rebound in October .  Despite the slowdown last month, existing home sales, released by the National Association of Realtors, climbed more than expected in October. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 1.9% to a seasonally adjusted annual rate of 5.46 million in October. On a year-over-year basis, sales were 4.6% higher than a year ago.   Regionally, while existing sales in the Midwest and South...

In a recent article,  First American  shared how millennials are not really any different from previous generations when it comes to the goal of homeownership; it is still a huge part of their American Dream. The piece, however, also reveals,   “Saving for a down payment is one of the biggest obstacles faced by first-time home buyers. Dispelling the 20 percent down payment myth could open the path to homeownership for many more.”   Myth #1: “I Need a 20% Down Payment” Buyers often overestimate how much they need to qualify for a home loan. According to the same article: “Americans still overestimate the qualifications needed to get a mortgage, resulting in qualified potential buyers not even considering homeownership. Indeed, the Urban Institute report revealed that 16 percent of consumers believed that the minimum down payment required by lenders is 20 percent or more, and another 40 percent didn’t know at all.” While many potential buyers still thi...

Freddie Mac Chief Economist attributed the 15% increase in purchase mortgage applications  This Week in Real Estate   over the same week a year ago, the second highest weekly increase in the last two years,   to an improved economic outlook and declining recession fears.  Below  are a few highlights from the  second  week of  November  that influence our business: *  Freddie Mac: U.S. Economic Optimism Spurs Growth in Mortgage Rates .  This week, the average U.S. fixed rate for a 30-year mortgage rose to 3.75%. That’s 6 basis points above last week’s 3.69% but still more than a percentage point below the 4.94% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey. The modest uptick in mortgage rates over the last two months reflects declining recession fears and a more sanguine outlook for the global economy, said Sam Khater, Freddie Mac’s Chief Economist.   “...

Today, on Veterans Day, we salute those who have served our country in war or peace, and we thank them for their sacrifice. This year marks the 75 th  anniversary of VA Home Loan Benefit offerings through the  Servicemen’s Readjustment Act , also known as the  GI Bill . Since 1944, this law has created opportunities for those who have served our country, ranging from vocational training to home loans. Facts  About VA Home Loans: Nearly 24 million home loans have been guaranteed by the Veterans Administration. Nearly 82% of VA home loans are made with  no down payment . The VA also provides grants to help seriously disabled Veterans purchase, modify, or construct a home to meet their needs. Last year the VA provided 2,000 grants totaling $104 million. Benefits  of a VA Home Loan: No down payment No Private Mortgage Insurance* Lower credit score requirements Limitation on closing costs Lower average interest rates * More information on V...

While housing affordability rose to its highest level in three years in the third quarter as reported   This Week in Real Estate   by the NAHB, NAR chief economist, Lawrence Yun, predicted this week at the NAR EXPO that new home sales will reach a 13-year high in 2020 and existing home sales will likely increase 3.7% in 2020, the highest total since 2017.  Below  are a few highlights from the  first  week of  November  that influence our business: *  Lower Mortgage Rates Push Housing Affordability to Highest Level in Three Years .  With mortgage rates at a three-year low and a healthy job market, housing affordability rose to its highest level in three years in the third quarter of 2019, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). In all, 63.6 percent of new and existing homes sold between the beginning of July and end of September were affordable to famili...

  These 7 Email Mistakes Could be Costing You Clients With prospecting, listing appointments and social media taking up all your time – has email become an afterthought? Other than in-person or by phone, email is the most direct way to communicate with your audience. It also happens to be one of the cheapest with a $38 ROI for every $1 spent. But diving into the world of email campaigns can be a little intimidating. Many Customer Relationship Management systems (aka CRMs) aren’t super “user-friendly” and the trial and error can take up precious time. But email really is simple, and 63% of real estate email marketing campaigns receive positive engagement. Once you have the big don’ts under your belt, you can start focusing on what really matters-maintaining happy clients and converting leads. Here are the most common email marketing mistakes you should avoid at all costs. Not Welcoming New Subscribers Who doesn’t love a good welcome email?...