Berkshire Hathaway HomeServices Northwest Real Estate Federal Way & Puyallup

Homeownership is still a crucial part of the American dream. For those people who  own a home  (and those looking to buy one), it’s clear that being a homeowner has considerable benefits both  emotionally  and  financially . In addition to long-term stability, buying a home is one of the best ways to increase your net worth. This boost to your  wealth  comes in the form of equity. Equity  is the difference between what you owe on the home and its market value based on factors like price appreciation. The best thing about equity is that it often grows without you even realizing it, especially in a  sellers’ market  like we’re in now. In today’s real estate market, the combination of  low housing supply  and high buyer demand is driving  home values  up. This is giving homeowners a significant equity boost. According to the latest data from  CoreLogic , the amount of equity homeowners have has continued to grow as home values appreciate. Here are some key takeaways from the  Homeowner Eq

If you’re looking to maximize your sale and minimize your effort, you need to work with a real estate professional. In a  sellers’ market  like today’s, it can be tempting to list your house  on your own  – known as For Sale By Owner (FSBO). But the truth is, a real estate professional can save you  time and money  by managing every step of the process, from pricing your home to reviewing documents and handling negotiations. Before you decide to sell your house on your own, here are five reasons why working with an agent is your best bet to maximize the sale of your home. 1. First impressions are everything – and an agent knows how to make a great one. Prepping a house  for sale requires a significant amount of time and effort, even though it may seem simple at first glance. Doing it  right  so it stands out takes expertise and an understanding of what buyers are looking for. An agent considers things like: Should you take down any personal art or pictures? How much landscaping should

  Are you looking to buy a home? If so, we’ve got good news for you. While there’s no denying the  housing market  is having a great year, many of the headlines are focused on  the perks  for sellers. But what about buyers today? As a buyer, you’re likely braving bidding wars and weighing  low mortgage rates  versus  price appreciation  as you search for your dream home. If you find yourself a bit discouraged, hear this: there are clear signs buyers may have more opportunities this fall. According to  realtor.com ,  the sweet spot for buyers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years. When applied to the current market, experts determined the ideal week to buy a home this year. The research says: “ Nationally,  the best time to buy in 2021 is the week of October 3-9 . This week historically has shown the best balance of market conditions that favor buyers.” So, what’s that mean for you? If you’re l

  Good Morning! The National Association of Home Builders reported This Week in Real Estate that builder sentiment in September realized its first increase in three months. Additionally, a new report from CoreLogic reveals homeowners with mortgages gained $2.9 trillion in equity in the second quarter of 2021, a 29.3% year-over-year increase. Below are a few newsworthy events from the fourth week of September that influence our business:  * Homeowners Gain $2.9 Trillion in Equity in Q2 2021. Homeowners with mortgages gained $2.9 trillion in equity in the second quarter of 2021, a 29.3% year-over-year increase, according to a new  report by CoreLogic   released Wednesday. This marks an average gain of $51,500 per borrower since the second quarter of 2020. “Home equity wealth is at a record level and will bolster economic activity in the coming year,” Dr. Frank Nothaft, chief economist for CoreLogic, said in a statement. “Higher wealth spurs additional consumer expenditures and also

  Some Highlights Due to  low supply  and  high demand , today is one of the strongest  sellers’ markets  we’ve seen. Sellers can benefit from more  offers  to pick from, higher home  values , and a faster sales process. That might be why 73% of people believe it’s a  good time to sell . Sellers, don’t miss out on this  unique opportunity . Work with an agent to take advantage of this hot sellers’ market.

  There’s a common misconception that, as a  homebuyer , you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by  Lending Tree  asks what is keeping consumers from purchasing a home.  For over half of those surveyed, the ability to afford a down payment is the biggest hurdle. That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you’re able can  benefit  buyers, putting 20% down is not mandatory. As  Freddie Mac  puts it: “ The most damaging down payment myth—since it stops the homebuying process before it can start— is the belief that 20% is necessary .” If saving that much money sounds overwhelming, you might be ready to give up on the dream of homeownership before you even begin – but you don’t have to. According to the  Profile of Home Buyers and Sellers  from the  National Association of Realtors  (NAR), the median down payment hasn’t been over 20% since 2005.  It may sound sur

A lot has changed over the past year. For many people, the rise in remote work influenced what they’re looking for in a home and created a greater appetite for a dedicated home office. Some professionals  took advantage  of the situation and purchased a bigger home. Other people thought working from home would be temporary, so they  chose to get creative  and make the space they already had work for them. But recent headlines indicate working from home isn’t a passing fad. If you’re still longing for a dedicated home office, now may be  the time  to find the home that addresses your evolving needs.  More and more  companies are delaying  their plans to return to the office – others are deciding to remain fully remote permanently. According to economists from  Goldman Sachs  in a recent article from  CNN : “Job ads increasingly offer remote work and surveys indicate that both workers and employers  expect work from home to remain much more common than before the pandemic .” Other expert