Amazing Real Estate Tips, Trends & Ideas

Amazing Real Estate Tips, Trends & Ideas for the Greater Seattle market: Local real estate news in the Greater Seattle market: Home prices and trends in Seattle, on the Eastside, and across the Puget Sound region. By Dave McFarland, Broker with RSVP Real Estate.

Nov. 21, 2019

Check out the Georgetown area

SEATTLE WA - Check out the Georgetown area. Some of the 2+ bedroom, 1+ bath Single-family homes in this area have been on the market 193 days while the average time is 69 days. Homes that sold in the last 3 months have taken up to 160 days while the average time is 59 days. The minimum is 2 days.

Of the 2+ bedroom, 0+ bath Single-family homes in this area in the last 3 months, 38 homes have sold and 47 are currently on the market. Plus, 62 new listings came on the market and 38 were sold. This means there is 3.7 months of inventory in the market today. A balanced market is defined as having 5 - 7 months of inventory, while a seller’s market has less than 5 months of inventory and a buyer’s market has more than 7 months of inventory.

Nov. 13, 2019

Just Reduced in Puyallup!!

16312 72nd Ave E, Puyallup, WA

Price Reduced

Presented By:

MyNorthwestHomes.com

Real Estate Broker
RSVP Real Estate
425-330-0663
Licensed In: Washington
License #: 20722

  • Link on Facebook
  • Link on Twiiter
  • Connect on LinkedIn
 
Logo

$ Click for current price
3 BEDROOMS | 2 Baths (2 full ) BATHROOMS | 1266 SqFt

Pride of Ownership evident here. Hard to find & highly sought after single level condo with private feel. Features open floor plan, kitchen that opens to spacious living room, cozy gas fireplace, vaulted ceilings with huge ceiling fan. Large master bedroom with bath. Super Clean and move in ready. Wired for high speed internet. 2 car garage, fully fenced private backyard with exposed aggregate patio. Well maintained complex with low dues. Don't wait, come see this home today and make it yours!

 

All rights reserved. We want to convey clear and concise facts regarding the listings and other information that we publish for public use. We will make every effort to acquire, maintain and provide accurate and meaningful data. The information is deemed reliable, but not guaranteed. All property information contained herein is subject to errors, omissions, or prior changes.

Nov. 13, 2019

The #1 Reason to List Your House in the Winter

The #1 Reason to List Your House in the Winter | MyKCM

Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition.

So, what’s the #1 reason to list your house in the winter? Less competition.

Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months supply of listings from the National Association of Realtors.The #1 Reason to List Your House in the Winter | MyKCMAs you can see, the ‘sweet spot’ to list your house for the most exposure naturally occurs in the late fall and winter months (November – January). 

Temperatures aren’t the only thing that heats up in the spring – so do listings!The #1 Reason to List Your House in the Winter | MyKCMIn 2018, listings increased from December to May. Don’t wait for these listings and the competition that comes with them to come to the market before you decide to list your house.

Added Bonus: Serious Buyers Are Out in the Winter

At this time of year, purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers.’ The lookers are at the mall or online doing their holiday shopping.

 Bottom Line

If you’ve been debating whether or not to sell your house and are curious about market conditions in your area, let’s get together to determine the best time to list your house.

Nov. 6, 2019

4 Reasons to Buy a Home This Fall

4 Reasons to Buy a Home This Fall | MyKCM

Here are four great reasons to consider buying a home today, instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insights Report shows that home prices have appreciated by 3.6% over the last 12 months. The same report predicts prices will continue to increase at a rate of 5.8% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase Next Year

The Primary Mortgage Market Survey from Freddie Mac indicates that interest rates for a 30-year mortgage have recently hovered just above 3.5%. This is great news for buyers in the market right now, because low interest rates increase your purchasing power – but don’t wait! Most experts predict rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting that rates will increase by this time next year.

An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is needed to buy your next home.

3. Either Way, You Are Paying a Mortgage 

There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you’re living rent-free with your parents, you are paying a mortgage – either yours or that of your landlord.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing costs to work for you?

4. It’s Time to Move on With Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you’re buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over custom renovations, maybe now is the time to buy.

Bottom Line

Buying a home sooner rather than later could lead to substantial savings. Let’s get together to determine if homeownership is the right choice for you and your family this fall.

 

Nov. 1, 2019

Our Top 5 Tips for Starting Your Home Search

5 Tips for Starting Your Home Search | MyKCM

In today’s market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared. Here are five tips “How to Find Your Dream Home—Without Losing Your Mind.”

1. Get Pre-Approved for a Mortgage Before You Start Your Search

One way to show you’re serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage. Even if you’re in a market that is not as competitive, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach. This will help you avoid the disappointment of falling in love with a home well outside your price range.

2. Know the Difference Between Your ‘Must-Haves’ and ‘Would-Like-To-Haves’

Do you really need that farmhouse sink in the kitchen to be happy with your home choice? Would a two-car garage be a convenience or a necessity? Before you start your search, list all the features of a home you would like. Qualify them as ‘must-haves’‘should-haves’, or ‘absolute-wish list’ items. This will help you stay focused on what’s most important.

3. Research and Choose a Neighborhood Where You Want to Live

Every neighborhood has unique charm. Before you commit to a home based solely on the house itself, take a test-drive of the area. Make sure it meets your needs for “amenities, commute, school district, etc. and then spend a weekend exploring before you commit.”

4. Pick a House Style You Love and Stick to It

Evaluate your family’s needs and settle on a style of home that will best serve those needs. Just because you’ve narrowed your search to a zip code doesn’t mean you need to tour every listing in that vicinity. An example from the article says, “if you have several younger kids and don’t want your bedroom on a different level, steer clear of Cape Cod–style homes, which typically feature two or more bedrooms on the upper level and the master on the main.”

5. Document Your Home Visits

Once you start touring homes, the features of each individual home will start to blur together. The article suggests keeping your camera handy and making notes on the listing sheet to document what you love and don’t love about each property you visit.

Bottom Line

In a high-paced, competitive environment, any advantage you can give yourself will help you on your path to buying your dream home.

Nov. 1, 2019

The Difference an Hour Will Make This Fall

The Difference an Hour Will Make This Fall [INFOGRAPHIC] | MyKCM

Every Hour in the U.S. Housing Market: 

  • 614 Homes Are Sold
  • 95 Homes Regain Positive Equity
  • Median Home Values Go Up $1.38

 

 

Oct. 25, 2019

Buying a home can be SCARY…Until you know the FACTS [INFOGRAPHIC]

Buying a home can be SCARY…Until you know the FACTS [INFOGRAPHIC] | MyKCM

Some Highlights:

Many potential homebuyers believe they need a 20% down payment and a 780 FICO® score to qualify to buy a home. This stops many people from even trying to jump into homeownership! Here are some facts to help take the fear out of the process:

  • 71% of buyers who purchased homes have put down less than 20%.
  • 78.1% of loan applications were approved last month.
  • In September, the average credit score for approved loans was 737.

 

Oct. 24, 2019

Homeownership is the Top Contributor to Your Net Worth

Creating more homeowners is not only exciting for those of us in real estate, but also for those of us in the business of social change and economic equality. That’s because homeownership is far and away the most powerful driver of wealth creation in the U.S. economy. And wealth matters, big time.

Homeownership is the Top Contributor to Your Net Worth | MyKCM

Many people plan to build their net worth by buying CDs or stocks, or just having a savings account. Recently, however, Economist Jonathan Eggleston and Survey Statistician Donald Hays, both of the U.S. Census Bureau, shared the biggest determinants of wealth,

“The biggest determinants of household wealth [are] owning a home and having a retirement account.” (Shown in the graph below):

Homeownership is the Top Contributor to Your Net Worth | MyKCMThis does not come as a surprise, as we often mention that homeownership can help you to increase your family’s wealth. This study reinforces that idea,

 “Net worth is an important indicator of economic well-being and provides insights into a household’s economic health.”

Having equity in your home can help your family move in that direction, building toward substantial financial growth. According to the report noted above, people are not only creating net worth in the homes they live in, but many are also earning equity in rental property investments too. (See below):Homeownership is the Top Contributor to Your Net Worth | MyKCMJohn Paulson said it well,

If you don’t own a home, buy one. If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home.”

Bottom Line

There are financial and non-financial benefits to owning a home. If you would like to increase your net worth, let’s get together so you can learn all the benefits of becoming a homeowner.

 

 

 

 

Oct. 22, 2019

Builders Ditch Nest After Google Ties Devices to Digital Assistant

Several residential builders have stopped buying and installing Google’s Nest devices after the internet giant overhauled how Nest technology works with other gadgets.

Google bought Nest in 2014 to enter the smart-home market. Nest has become one of the largest makers of internet-connected thermostats, smoke alarms and locks.

The devices were popular with builders who saw a Nest gadget as a way to increase the value of properties. But earlier this year, that began to change as Google exerted more control over Nest and started changing the underlying technology.

As a more independent business, Nest developed software that helped its gadgets communicate with a wide range of products from other manufacturers, through accounts set up directly by users.

As of the end of August this year, however, consumers need a Google account -- and access to the company’s voice-based Google Assistant service -- to integrate new Nest products with other devices in their homes.

For builders it’s just a pain because Nest devices no longer work so well with the other gadgets they install in homes, such as audio and entertainment systems, and alarms and other security gear. It’s also a less enticing user proposition with all the privacy permissions that Google Assistant requires.

That’s spurred some builders -- who collectively purchase tens of thousands of Nest devices each year -- to avoid Nest products.

By Gerrit De Vynck

Oct. 17, 2019

62% of Home Buyers Are Wrong About This!



According to the ‘2019 Home Buyer Report conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market:

“More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to purchase a home.”

When potential homebuyers think they need a 20% down payment to enter the market, they also tend to think they’ll have to wait several years (in some markets) to come up with the necessary funds to buy their dream homes. The report continues to say,

“The truth: 32% of current U.S. homeowners put 5% or less down on their home, according to census data.” (as shown below):

62% of Buyers Are Wrong About Down Payment Needs | MyKCMThe lack of knowledge about the home-buying process is unfortunately keeping many motivated buyers on the sidelines.

Bottom Line

Don’t let a lack of understanding keep you and your family out of the housing market. Let’s get together to discuss your options today.