Berkshire Hathaway HomeServices Northwest Real Estate Federal Way & Puyallup

It can be tempting, especially with how hot the housing market has been over the past two years, to consider  selling your home  on your own. But today’s market is at a  turning point , making it more essential than ever to work with a real estate professional. Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current  market trends , but they’re also experts in managing the many aspects of selling your house. Here are five key reasons why working with a real estate professional makes sense today. 1. A Professional Follows the Latest Market Trends With higher  mortgage rates , rising  home prices , and a growing number of  homes for sale , today’s housing market is showing signs of a shift back toward more pre-pandemic levels. When conditions change, following the trends and staying on top of new information is crucial when you sell. That makes working with an expert real estate advisor critical today. They know your local area a

A recent  survey  from  Bankrate  asks prospective buyers to identify the biggest obstacles in their homebuying journey. It found that 36% of those polled said saving for a down payment is one of their primary hurdles to buying a home. If you feel the same way, the good news is there are many down payment assistance programs available that can help you achieve your  homeownership goals . The key is understanding where to look and learning what options are available. Here’s some information that can help you. You Can Qualify Even if You’ve Purchased a Home Before There are several misconceptions about down payment assistance programs. For starters, many people believe there’s only assistance available for  first-time homebuyers . While first-time buyers have many options to explore, repeat buyers have some, too. According to the latest  Homeownership Program Index  from  downpaymentresource.com : “It is a common misconception that homebuyer assistance is only available to first-time hom

There’s no denying the housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point. As you may have already heard, the  number of homes  for sale has increased this year, and even more so this spring. As Danielle Hale, Chief Economist for  realtor.com ,  explains : “ New listings–a measure of sellers putting homes up for sale–were up 6% above one year ago.  Home sellers in many markets across the country continue to benefit from rising home prices and fast-selling homes. That’s prompted a growing number of homeowners to sell homes this year compared to last, giving home shoppers much needed options.” This is encouraging news.  More homes  coming onto the market give you a greater chance of finding one that checks all your boxes. Buyer Competition Mod

You may be reading headlines and hearing talk about a potential housing bubble or a crash, but it’s important to understand that the data and expert opinions tell a different story. A  recent survey  from  Pulsenomics  asked over one hundred housing market experts and real estate economists if they believe the housing market is in a  bubble . The results indicate most experts don’t think that’s the case  (see graph below) : As the graph shows, a strong majority (60%) said the real estate market is not currently in a bubble.  In the same survey, experts give the following reasons why this isn’t like 2008: The recent growth in  home prices  is because of demographics and low inventory Credit risks are low because underwriting and  lending standards  are sound If you’re concerned a crash may be coming, here’s a deep dive into those two key factors that should help ease your concerns. 1. Low Housing Inventory Is Causing Home Prices To Rise The supply of homes available for sale needed to s

Good Morning! Sales of newly built, single-family homes recorded a solid gain in May as reported by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau This Week in Real Estate, while existing-home sales retracted for the fourth consecutive month, returning to the levels seen in 2019. The median existing-home price was up 14.8% in May compared to May of last year – this marks 123 consecutive months of year-over-year increases, the longest-running streak on record. So, is today’s housing market in the same predicament that it was when it contributed to the Great Recession? Many economists and analysts believe not thanks, largely, to the lending regulations that resulted from that meltdown. The average borrower FICO credit score of the 53.5 million first lien home mortgage holder is a record high 751 compared to 699 in 2010. Home prices have soared resulting in total mortgage debt in the U.S. of less than 43% of current home values, the lowest on record. Tha

Some Highlights When it comes to  pricing your house , there’s a lot to consider. The only way to ensure you price it right is by partnering with a local real estate professional. To find the best price, your agent balances current market demand, the values of homes in your neighborhood, where prices are headed, and your home’s condition. Don’t pick just any price for your house. If you’re ready to sell, reach out to a trusted real estate professional to find the perfect price for your house.

If you’re following along with the news today, you’ve heard about rising inflation. Today,  inflation  is at a  40-year high . According to the  National Association of Home Builders  (NAHB): “Consumer prices accelerated again in May as shelter, energy and food prices continued to surge at the fastest pace in decades. This marked the third straight month for inflation above an  8% rate and was the largest year-over-year gain since December 1981 .” With inflation rising, you’re likely feeling it impact your day-to-day life as prices go up for gas, groceries, and more. These climbing consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile. If you’ve been thinking about purchasing a home this year, you’re probably wondering if you should continue down that path or if it makes more sense to wait. While the answer depends on your situation, here’s how homeownership can help you combat the rising costs that