Buying a Home

Buying a Home 7 Myths About VA Loans…Busted There are a lot of myths swirling around about VA loans, so before you believe everything you hear, take some time to look into the facts about your benefit.  Please reach out if you have any questions.  I can put you in touch with one of the great lenders I work with if you’re looking […]
Buying a Home Law Changes Benefitting You On January 1, 2024, major changes to the Law of Agency will go into effect. These changes result from the real estate industry in the state of Washington wanting to elevate the level of transparency and consumer protection surrounding buyer representation. Senate Bill 5191 was voted into law requiring adjustments in how brokers operate when working with […]
Buying a Home The Decision Is Up To You There has always been a direct correlation between interest rates and home prices. The rule of thumb has always been when rates go up prices go down, and vice versa. This was temporarily proven true in the summer of 2022 when rates quickly rose by 2% (3.5%-5.5%) over 5 months. It caused a price correction in the […]
Buying a Home 10 State Bills Affecting Housing On April 23rd the Washington State Legislature adjourned after passing 10 new bills that will affect housing. Some of the bills are geared toward creating more transparency around brokerage transactions, some are intended to institute more opportunities for building density to provide more affordable housing, and some are more regulatory to help guide and ease […]
Buying a Home Secret Tips for Buyers When writing an offer, it is important to understand how to structure your offer when competing with others and I am here to help! Here are 3 important numbers to understand for an ESCALATION ADDENDUM. 1) Starting Price: I always advice my clients to start over asking price. Even if it’s just throwing the seller […]
Buying a Home Understanding Interest Rates It is very important that consumers understand the difference between long-term interest rates and short-term interest rates. Long-term rates involve home mortgages such a conventional 30-year fixed, Jumbo, FHA, and VA loans. Short-term rates involve car loans, credit cards, and Home Equity Lines of Credit (HELOCs). While both types of rates have gone up over […]
Buying a Home Key Factors to Note as the Market Recalibrates in the New Year 2022 has been an eventful year in the real estate market and the economy. After 2 years of pandemic-fueled demand and historically low interest rates, we experienced a shift. The Fed quickly raised rates (by 2 points) from April to October to combat inflation, curbing buyer demand as affordability took a hit. The overall economy is starting […]
Buying a Home Matthew Gardner’s Top 10 Predictions for 2023 1. There Is No Housing Bubble Mortgage rates rose steeply in 2022 which, when coupled with the massive run-up in home prices, has some suggesting that we are recreating the housing bubble of 2007. But that could not be further from the truth. Over the past couple of years, home prices got ahead of themselves […]
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Buying a Home 2023 Real Estate Goals The new year is just around the corner! If you are thinking you might want to invest or make a move next year let’s talk! My calendar is open starting in November for some afternoon/evening consultations. Let’s meet at the brewery of your choice or I can come to your home. We can do some […]
Buying a Home Current Shift In Inflation & Interest Rates It has been my goal to report to you accurate, real-time updates on the real estate market as we navigate the shift that started in May 2022. The two factors that have been the biggest contributors to this shift are inflation and interest rates. Inflation caused interest rates to rise by over 2-points over a […]
Buying a Home Shifting Market: How Interest Rates Affect Prices As we continue to examine the shift in the market, we must take a moment to take a deep dive into interest rates. Since the first of the year, long-term interest rates have increased 2.7% from 3.11% on 12/30/21 to the peak of 5.81% on 6/23/22, but have started to level out. On 8/4/22 rates […]
Buying a Home Decelerating Does Not Equal Depreciating Home Prices Did you know that decelerating home prices do not mean depreciating home prices? Price appreciation is starting to slow down. At the end of May 2022, complete year-over-year price appreciation was at record highs. At the end of July, Whatcom County’s Average Sold Price was down 6.3% compared to June. This means that we are […]
Buying a Home Quarterly Market Reports for Q2 2022 As we head into the second half of 2022, we are experiencing a shift in the real estate market. The market is starting to balance out after two years of an intense seller’s market. Q1 this year had the lowest amount of inventory we have ever seen, which put upward pressure on prices. With the […]
Buying a Home Still a Seller’s Market Did you know? It’s STILL a Seller’s Market. What does that even mean?! We can gauge who has more power in negotiations based on one simple thing. If no more homes were listed tomorrow—— how long would it take to sell ALL the homes currently available? This is “months of inventory”. Here’s how the power […]
Buying a Home Your Kids College Education for Free! 3 Years ago a family I had met in my previous career reached out to me because their daughter was coming to Western Washington University. They had the idea that on-campus housing or even renting an apartment off-campus would be a waste of money. And they were SO RIGHT! Sadie (pictured above) just graduated from […]
Buying a Home Seasons of More Inventory Did you know that Spring and Summer are when we see the highest levels of inventory come to market in our region? Do you feel like you have been battling to win a house with such slim pickings? Well, now’s that time to stay in the game! More selection means more leverage! Sellers are still […]
Buying a Home Shifting Market: Perspective is Key “How’s the market?” is a question I am asked all the time. It is a common segue in casual conversation over the neighbor’s fence, at a party or family gathering. Now more than ever, the answer to this question is critical and detailed. You see, our market is experiencing a shift, a slowing down of price growth if […]
Buying a Home 5% Interest Rates Interest rates have gone up in the past few months! But, they are still well below the historical average. In fact, they are 2 points below the 30-year average! Buyers are best to get qualified on payment, not rate. What does this mean? It means we work with a lender who helps us figure out […]
Buying a Home 50% Home Equity Did you know that 50% of homeowners have at least 50% equity in their homes?! This means that half of the homeowners in the US have a loan balance for less than half of the value of their home. These equity amounts will keep the housing market stable and real estate a smart investment even […]
Buying a Home Current Market Update Housing inventory is holding strong! We continue to have record numbers of new listings since the start of the pandemic. It’s time to start paying attention to how long it’ll take for a listing to accept an offer and if the sold homes will continue to close at over asking price. Windermere’s economist, Matthew Gardner, […]