Berkshire Hathaway HomeServices Northwest Real Estate Federal Way & Puyallup

  You may have heard that pre-approval is a great  first step  in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this. According to a recent  survey  from  realtor.com,  many buyers are making the mistake of skipping the pre-approval step in the homebuying process: “Of over 2,000 active home shoppers who plan to purchase a home in the next 12 months,  only 52% obtained a pre-approval letter before beginning their home search , which means nearly half of home buyers are  missing this crucial piece of paperwork. ” This paperwork (the pre-approval letter) shows sellers you’re a qualified buye...

  Finding the right home to purchase today is one of the biggest challenges for potential buyers. With so few homes for  sale  and construction of newly built homes  ramping up , you may be wondering if you should consider  new  construction in your search process. It’s a great question to ask, and one to look at from the pros and cons of what it means to buy a new home versus an existing one. Here are a few things to consider when making the best decision for your family. New Construction   When buying a new home, you can often choose more energy-efficient options. New appliances, new windows, a new roof, etc. These can all help lower your energy costs, which can add up to significant savings over time. With programs like  ENERGY STAR , your home also helps protect the environment and reduces your carbon footprint. Lower maintenance that comes with a newer home is another great benefit. When you have a new home, you likely won’t have as many litt...

  When shelter-in-place orders brought the economy to a screeching halt earlier this year, many believed the residential housing market would follow suit. Countless analysts predicted buyer demand would disappear and home values would depreciate for the first time in almost a decade. That, however, didn’t happen. It appears the opposite is taking place. After the bottom fell out of the real estate market immediately following the shutdown, it has come roaring back – and seems to still be gaining steam. Here’s a look at two recent reports – one from the  National Association of Home Builders  (NAHB) and one from the  National Association of Realtors  (NAR) – showing this growing strength. Builder Confidence Hits All-Time High Last week, it was  reported  that applications for new home purchases with home builders were  39% higher than in July of 2019 . That has builder confidence soaring. Each month, NAHB releases its  Housing Market Index , a...

Introducing the Real Estate Pillars series! Here we will be discussing the 14 different pillars you can use to build your real estate business. Today's video is about the agent to agent pillar. We recommend focusing on 4 or 5 of these to create a solid business plan. Each pillar will be discussed in a separate video, so stay tuned to learn 14 different ways you can maximize your real estate career.

  When shelter-in-place orders brought the economy to a screeching halt earlier this year, many believed the residential housing market would follow suit. Countless analysts predicted buyer demand would disappear and home values would depreciate for the first time in almost a decade. That, however, didn’t happen. It appears the opposite is taking place. After the bottom fell out of the real estate market immediately following the shutdown, it has come roaring back – and seems to still be gaining steam. Here’s a look at two recent reports – one from the National Association of Home Builders (NAHB) and one from the National Association of Realtors (NAR) – showing this growing strength. Builder Confidence Hits All-Time High Last week, it was reported that applications for new home purchases with home builders were 39% higher than in July of 2019 . That has builder confidence soaring. Each month, NAHB releases its Housing Market Index , a survey of NAHB members who rate ...

  Existing-home sales set a record in July for month-over-month increase as July sales were up 25% over June sales according to the National Association of Realtors  This Week in Real Estat e.  In addition, home builder confidence has reached its highest reading in the 35-year history of the Housing Market Index, matching the record set in December 1998. Below  are a few newsworthy events from the  third week of August  that influence our business:    *  U.S. Home Sales And Median Price Soar to a Record in July.   Existing-home sales jumped 25% in July from June, beating the prior record gain of 21% set a month earlier, as low mortgage rates fueled demand for real estate.   Sales of single-family homes, townhomes, condominiums, and co-ops rose to a seasonally adjusted 5.86 million, the highest level since 2006, the National Association of Realtors said in a report on Friday. The median price increased 8.5% from a...

  Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home. According to  Zillow : “In 2020, homes went from the place people returned to after work, school, hitting the gym or vacationing, to the place where families do all of the above. For those who now spend the majority of their hours at home, there’s a growing wish list of what they’d change about their homes, if possible.”  With a new perspective on homeownership, here are some of the top reasons people are reconsidering where they live and making moves this year. 1. Working from Home Remote work  is becoming the new norm in 2020, and it’s continuing on longer than most initially expected. Many in the workforce today are discovering they don’t need...