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Uncategorized Risk, Reward, and Starting at Square One: What potential first time homebuyers need to know. As 2024 starts to come to a close, we want to spend some time talking about first-time homebuyers. Even if you already own a home, this is an important message to share; it can change someone’s life! In 2023, according to the National Association of Realtors (NAR) 2023 Profile of Home Buyers and Sellers, first-time […]
Uncategorized What is your home worth, and why do you want to know? Your home is your shelter where you make memories, a large part of your financial nest egg, and a vehicle for creating wealth. Knowing what your home is worth is empowering and important. The reasons that may come up when you need to know your home’s value can have a direct impact on your financial health. Do you need […]
Uncategorized QUARTERLY REPORTS Q3 2024 The third quarter saw an increase in inventory, a decrease in interest rates, and continued price stability. Interest rates continue to be volatile, and in Q3 they came down by almost 2 points year over year. This caused more buyers to enter the market and pending sales to rise. The number of available listings has […]
Uncategorized Interest Rates Falling & Inventory Rising: Opportunity Knocks! As we celebrate the start of autumn, the season of change, the leaves on the trees are not the only things that are falling. Interest rates have gradually fallen throughout the year. Just 11 months ago, rates were almost 2 points higher; in the frothy spring market, they were nearly 1.5 points higher. During this […]
Uncategorized End of Summer Market Update Summer 2024 welcomed an increase in available inventory, a drop in interest rates, and continued price stability, which has upheld strong home equity levels. After a double-digit ramp-up in price appreciation in the first half of 2024, prices have slightly come off the peak of May 2024 and found stability. This trend is historically consistent with […]
Uncategorized Election Year Market Trends: A Look Back to Look Forward As we approach November and the Presidential election nears, it would be good to look back on how election years have historically affected the real estate market.  There is certainly a lot going on and this stimulation can cause pause.  Buying and selling real estate is a big life event and the election is a […]
Uncategorized Maximizing Your Property’s Potential: What you need to know about Middle Housing Higher-density housing is happening in our state and quite possibly right in your own backyard. This is called middle housing. Middle housing is a term for buildings that are compatible in scale, form, and character with detached single-family houses. In 2023, House Bill 1110 was passed in a bipartisan 35-14 vote in the Senate and 79-18 vote in […]
Uncategorized Half Way Through 2024: Mid-Year Opportunities in the Real Estate Market As we approach the mid-point of the year, we want to take a moment to explain all that has happened in the 2024 real estate market and where we might be headed. We have had strong price growth since December 2023, and in May 2024 prices matched the peak we saw in spring 2022. The […]
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Uncategorized Transparency First: NWMLS Votes to NOT opt in to the NAR Lawsuit Settlement As promised, here is the latest update regarding the $418 Million NAR Lawsuit Settlement and how it will affect real estate operations in WA State. As the deadline to opt in to the NAR Lawsuit Settlement approaches, the Northwest Multiple Listing Service (NWMLS) announced last week that they have voted to NOT opt-in to the settlement. […]
Uncategorized Buyer Demand Persists and Seller Equity Soars Amongst Interest Rate Volatility As we sit almost five months into 2024 in the middle of the spring market and we reflect on how the year is going, we are grateful, amazed, and locked in on the stats. You see, the last four years since the start of the pandemic have been an eventful and wild ride. 2020 saw […]
Uncategorized Three Hot Buttons in Real Estate The real estate industry has been in the news a bit lately. Not so much about the trends and home values. More so about class action lawsuits, which have stolen a lot of attention away from the positive activity that is happening in our market. While the lawsuit is an important story to track, one […]
Uncategorized Accurate Update: Washington State & the Proposed NAR Settlement As we are sure you have heard on the news, there is a proposed settlement agreement for the NAR (National Association of Realtors) Class Action Lawsuit. It has certainly stirred up plenty of headlines that have been glossy, and in many cases, inaccurate. Many of the reports and headlines have been national and it is […]
Uncategorized Phill was Right! Spring Arrives Early for our Local Real Estate Market When Punxsutawney Phill climbed up to his perch at Gobblers Knob on February 2nd and did not see his shadow, an early spring was predicted. Little did we know that he would be referring to the real estate market! As we experience temps in the 30s and scattered snow showers in the first week of March, we […]
Uncategorized New Year, New Laws! What This Means for Consumers Moving Forward. Effective January 1, 2024, the statute in Washington that governs real estate brokerage relationships (RCW 18.86) otherwise known as the “Agency Law” – was significantly revised. The revisions modernize the 25-year-old law, provide additional transparency and consumer protections, and acknowledge the importance of buyer representation. KEY REVISIONS For decades, real estate brokerage firms were only […]
Uncategorized Matthew Gardner’s 2024 Economic Forecast Highlights Last week, our office hosted our 16th Annual Economic Forecast Event featuring Matthew Gardner. Matthew is a sought-after economist focused on the national and local economies and has a deep understanding of the housing market across the country and right in our own backyard. He is an economic advisor for the State of Washington, Governors […]
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