Berkshire Hathaway HomeServices Northwest Real Estate Federal Way & Puyallup

Good Morning! Fannie Mae released its November housing forecast This Week in Real Estate reporting monthly price growth has moderated yet year-over-year appreciation sits at the highest level in more than four decades. The report is the first to project housing market activity through the end of 2023 which expects double-digit home-price appreciation will last until the middle of 2022 and it won’t be until 2023 when home inflation returns to a single-digit pre-pandemic pace. Below are a few newsworthy events from the fourth week of November that influence our business:  * The US Housing Market Will Finally Be Back To Normal In 2023 – But Prices Will Be Stuck Permanently Higher. If surging home prices put you off from buying a house in 2021, you'll have to wait another year for the market to cool down. The third quarter of 2021 likely marked the peak for the housing market's price surge, economists at Fannie Mae said in its November housing  forecast . The cooldown has sta

As we near the end of the year, more homeowners are realizing the benefits of today’s sellers’ market. Record-breaking  home price appreciation , growing  equity , low  inventory , and competitive  mortgage rates  are motivating homeowners to make a move that addresses their  changing lifestyles . In fact, recent  data  from  realtor.com  shows a larger share of homeowners are planning to list their houses this winter. So, that means  more homes  are about to hit the market, which will lead to more choices for buyers too. According to George Ratiu, Manager of Economic Research at  realtor.com : “The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests  the majority of prospective sellers are actively preparing to enter the market this winter. ” If you’re thinking of waiting until the spring to sell your house, know that your neighbors may be one step ahead of you by selling this winter.

There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise. With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we’ll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources for a look at what to expect from the housing market next year. There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news. 1. Foreclosures Are Spiking Today There are a number of headlines circulating that call out the rising foreclosures in today’s real estate market. Those stories focus on an overly narrow view on that topic: the current volume of foreclosures compared to 2020. They emphasize that we’re seeing far more foreclosures this year compared

  Good Morning! According to the November National Association of Home Builders Housing Market Index released This Week in Real Estate homebuilder confidence rose to its highest level since May following October numbers that saw an increase in permits, but a small decline in starts. Additionally this week, NAR chief economist Lawrence Yun, said in response to inquiries about a bubble in 2022, “the signs are just not there.” Below are a few newsworthy events from the third week of November that influence our business:  * Housing Markets Likely To Normalize in 2022, Says NAR’s Lawrence Yun. “All markets are seeing strong conditions and home sales are the best they have been in 15 years,” said Yun. “The housing sector’s success will continue, but I don’t expect next year’s performance to exceed this year’s.” At the moment, home sales are the standout. And although there should be a slowdown going into 2022, said Yun, they will likely remain above pre-pandemic levels. The outcome, ho

  Your  equity  is a powerful tool that can help you achieve your goals as a homeowner. And chances are, your equity grew substantially over the past year. According to the latest  Equity Insights Report  from  CoreLogic , homeowners gained an average of $51,500 in equity over the past year. If you’re looking for the best ways to use your  growing equity , here are four options: 1. Use Your Equity To Buy a Home That Fits Your Needs If you’re finding you no longer have the  space  you need, it might be  time to move  into a larger home. Or, it’s possible you have  too much  space and would like something  smaller . No matter the situation,  consider using your equity to power a move into a home that fits your changing lifestyle.  Moving into a larger home can provide extra space for remote work or loved ones. Downsizing, on the other hand, may mean saving time and money by caring for a smaller home. 2. Move to the Location of Your Dreams If the size of your home isn’t a challenge but yo

Some Highlights When it comes to buying a  home , there are a number of key milestones along the way. The process includes everything from building your team and understanding your finances to going  house hunting ,  making an offer , and more. When you’re ready to start your  journey , partner with a professional so you have trusted guidance at every milestone in the process.

The past year and a half brought about significant life changes for many of us. For some, it meant entering retirement earlier than expected. Recent data shows more people retired this year than anticipated. According to the  Schwartz Center for Economic Policy Analysis , 2021 saw a retirement  boom : “At least 1.7 million more older workers than expected retired due to the pandemic recession.” If you’ve recently retired, your home may not fit your new lifestyle. The good news is, you’ve likely built-up significant equity that can fuel your next move. According to the latest  Homeowner Equity Insights  report from  CoreLogic ,  homeowners gained more than $50,000 in equity over the past 12 months alone.  That, plus today’s sellers’ market, presents a great  opportunity  to sell your house and address your  evolving needs . You Can Move Closer to the Ones You Love The  2021 Home Buyers and Sellers Generational Trends  report from the  National Association of Realtors  (NAR) provides a l

Are you thinking about  selling  your house right now, but you’re not sure you’ll have the time to do so as the holidays draw near? If so, consider this: even as the holiday season approaches, there are plenty of buyers out there, and they  really  want  your house . Here’s why selling this winter is a win for you. Today’s buyers are still dealing with a limited number of homes for sale. Thanks to continued  low inventory , those buyers are competing with one another for their dream home. And when that happens, if your house is one of the few on the market, it will rise to the top of the pool – and it will be worth it. According to the latest data from the  National Association of Realtors  (NAR), the average seller received 3.7 offers on their house in September. For a view into what’s happening at the state level, take a look at the map below: Nationwide, the average seller today is getting nearly four offers. That number is significant because it means you’ll likely have multiple of