Berkshire Hathaway HomeServices Northwest Real Estate Federal Way & Puyallup

If you’re trying to decide when to sell your house, there may not be a better time than this winter.  Selling  this season means you can take advantage of today’s strong  sellers’ market  when you make a move. Win When You Sell Right now, conditions are very favorable for current homeowners looking for a change. If you sell now, here’s what you can expect: Your House Will Stand Out  – While recent  data  shows there are more sellers getting ready to list their homes this winter, there are still more buyers in the market than there are homes for sale. If you sell your house now before more houses are listed, it will get more attention from serious buyers who are eager to find a home. Your House Will Likely Get Multiple Offers  – When supply is low and demand is high, buyers have to compete with each other for a limited number of homes. The latest  Realtors Confidence Index  from the  National Association of Realtors  (NAR) shows...

The game of chess can provide incredible lessons to apply to all aspects of life, including the homebuying process. Chess requires you to plan and think about your strategy from the very beginning of the game.    The homebuying process, like chess, requires strategy and planning. Here are a few things to keep in mind to ensure your plan is as strong as possible when you begin your home search. Pre-Approval: the Best Opening Play To Make as a Homebuyer It’s important to have a great opening play when you’re buying a home. And the best move you can make when you begin your home search is getting pre-approved by a lender. You’ve probably already heard this is an important step, but what exactly is pre-approval and what benefits does it provide you? As  Freddie Mac  puts it: “The pre-approval letter from your lender tells you the  maximum amount you are qualified to borrow.  Getting a pre-approval letter is not a loan guarantee, it simply states how much your l...

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 coold...

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...

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 leve...

  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 t...