My Blog
QUARTERLY REPORTS Q4 2023
The story of 2023 was balancing interest rates with home purchases and even home sales. The average weekly rate in 2023 was 6.8% and peaked in October at 7.94%. This caused some buyers to pause due to cost. Many sellers were reluctant to move and give up their low payments based on historically low rates, hence the […]
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December is for Giving at Windermere North!
The holiday season can come and go in a flash, with the pressure and stress of gift shopping, family obligations, and wrapping up the year. One thing that I love about my office is that we all make it a priority to come together to lift up our neighbors in need during this time of […]
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Now or Later: When Rates Drop, Expect the Market to Tilt
The question that many potential buyers are asking themselves right now is: should I wait for rates to drop before I buy? Higher interest rates have certainly made monthly payments higher and challenged overall affordability, however it is important to consider creative financing options and what the impact on prices will be once rates lower. Experts […]
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New Agency Law Changes: Transparency, Consumer Protection & Commitment
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 […]
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QUARTERLY REPORTS Q3 2023
Tight inventory and buyer demand helped fuel the market in the third quarter of 2023 despite rising interest rates. There have been fewer listings in 2023 than in 2022 which has created price growth since the first of the year. Prices peaked in spring 2022, corrected in the second half of 2022, and then they […]
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The Low Inventory Effect: Nationally & Close to Home
The video below from Matthew Gardner, Windermere’s Chief Economist, refers to the effects of constricted inventory levels on the national housing market in a higher interest rate environment. Review the localized numbers that I gathered that pertain to King and Snohomish Counties and then check out what he has to say about the national trends. […]
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Win-Win: How to Overcome Interest Rate Pressure with Creative Financing
Lately we have talked about life changes leading to real estate moves. Sometimes moves are brought on by joyful advancements in life and sometimes they are motivated by hardship. Then there are times when your actual house just doesn’t fit your life anymore and it is time for something different. Whatever might be calling someone to make […]
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Should You Stay or Should You Go? Interest Rates Limit Inventory and Stabilize Prices
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 created a price correction in the […]
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Clarity Through Chaos: Using the Data to Guide Decisions.
I think we can all agree that we have been on a bit of a wild ride over the last 12 months in the real estate market. When the Fed decided to change its trajectory on interest rates in mid-2022, it created some chaos and confusion. When big changes happen, it is a natural reaction […]
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