Berkshire Hathaway HomeServices Northwest Real Estate Federal Way & Puyallup

We’re in a changing real estate market, and life, in general, is changing too – from how we grocery shop and meal prep to the ways we can interact with our friends and neighbors. Even practices for engaging with agents, lenders, and all of the players involved in a real estate transaction are changing to a virtual format. What isn’t changing, however, is one key thing that can drive the local economy: buying a home. We’re all being impacted in different ways by the effects of the coronavirus. If you’re in a position to buy a home today, know that you’re a major economic force in your neighborhood. And while we all wait patiently for the current pandemic to pass, there are a lot of things  you can do  in the meantime to keep your home search on track. Every year the  National Association of Realtors  (NAR)  shares  a report that notes the full economic impact of home sales. This report summarizes: “The total economic impact of real estate related industries on the state economy

  We’re in a changing real estate market, and life, in general, is changing too – from how we grocery shop and meal prep to the ways we can interact with our friends and neighbors. Even practices for engaging with agents, lenders, and all of the players involved in a real estate transaction are changing to a virtual format. What isn’t changing, however, is one key thing that can drive the local economy: buying a home. We’re all being impacted in different ways by the effects of the coronavirus. If you’re in a position to buy a home today, know that you’re a major economic force in your neighborhood. And while we all wait patiently for the current pandemic to pass, there are a lot of things you can do in the meantime to keep your home search on track. Every year the National Association of Realtors (NAR) shares a report that notes the full economic impact of home sales. This report summarizes: “The total economic impact of real estate related industries on the sta

As the economy braces for the headwinds from the COVID-19 outbreak the financial sector as well as the government is responding by providing substantial support in an attempt to stabilize the market .  While there will almost definitely be fewer sales than anticipated this year before COVID-19, Realtor.com Chief Economist Danielle Hale said   This Week in Real Estate  that  “folks expecting price declines to happen like they did during the last recession are going to be disappointed . ”   Below  are a few highlights from the  fourth week of March that influence our business:   *  Fannie Mae, Freddie Mac to Roll Out New Mortgage-Payment Deferral Option for Homeowners Facing Financial Trouble .   Homeowners who fall behind on their mortgage payments will soon have the ability to defer payments through a new service being offered by Fannie Mae and Freddie .  At the direction of the Federal Housing Finance Agency, the two mortgage companies are rolling out payment deferrals, which

The angst caused by the coronavirus has most people on edge regarding both their health and financial situations. It’s at times like these when we want exact information about anything we’re doing – even the correct protocol for grocery shopping. That information brings knowledge, and this gives us a sense of relief and comfort. If you’re thinking about buying or selling a home today, the same need for information is very real. But, because it’s such a big step in our lives, that desire for clear information is even greater in the homebuying or selling process. Given the current level of overall anxiety, we want that advice to be truly perfect. The challenge is, no one can give you “perfect” advice. Experts can, however, give you the best advice possible. Let’s say you need an attorney, so you seek out an expert in the type of law required for your case. When you go to her office, she won’t immediately tell you how the case is going to end or how the judge or jury will rule. If

Some Highlights: Don’t put your homeownership plans on hold just because you’re stuck inside. There are several things you can do right now to keep your home search moving forward. Connect with an agent, learn about resource programs for things like  down payments , and get  pre-approved  today. MARCH 27, 2020  BY  KCM CREW

There’s a lot of anxiety right now regarding the coronavirus pandemic. The health situation must be addressed quickly, and many are concerned about the impact on the economy as well. Amidst all this anxiety, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we will continue to see a rash of horrifying headlines over the next few months. Let’s make sure we aren’t paralyzed by a headline before we get the full story. When it comes to the health issue, you should look to the  Centers for Disease Control and Prevention (CDC) or the  World Health Organization  (WHO) for the most reliable information. Finding reliable resources with information on the economic impact of the virus is more difficult. For this reason, it’s important to shed some light on the situation. There are already alarmist headlines starting to appear. Here are two such examples surfacing this week. 1.  Goldman Sachs  Forecasts the Largest D

With the housing crash of 2006-2008 still visible in the rear-view mirror, many are concerned the current correction in the stock market is a sign that home values are also about to tumble. What’s taking place today, however, is nothing like what happened the last time. The S&P 500 did fall by over fifty percent from October 2007 to March 2009, and home values did depreciate in 2007, 2008, and 2009 – but that was because that economic slowdown was mainly caused by a collapsing real estate market and a meltdown in the mortgage market. This time, the stock market correction is being caused by an outside event (the coronavirus) with no connection to the housing industry. Many experts are saying the current situation is much more reminiscent of the challenges we had when the dot.com crash was immediately followed by 9/11. As an example, David Rosenberg,  Chief Economist  with  Gluskin Sheff + Associates Inc .,  recently explained : “What 9/11 has in common with what is happening

While any positive real estate news may be characterized as in the “rear view mirror” the facts are through the first 2 ½ months of 2020 everything from single-family permits, single-family starts, existing-home sales, were performing strong compared to prior year. Yes, it is a time of uncertainty and the COVID-19 virus will undoubtedly slow down the market, however, it is difficult to predict what short-term effects this pandemic will have on future sales given the expected fiscal and monetary stimulus the Fed and government are planning in response to the economic disruption. All we can do is balance the practice of social responsibility while living life. Unpredictability is the only certainty for now. While the future is an unknown the National Association of Realtors reported  This Week in Real Estate   that existing home sales climbed to a 13-year high in February.  Below  are a few highlights from the  third week of March  that influence our business:   *  U.S. Existing