November statistics from Northwest Multiple Listing Service surprised few brokers. They point to holidays, inclement weather, and various economic factors for prompting pauses in listing and sales activity. Nonetheless, several industry leaders commented on positive signs, fueled in part by pent-up demand and evidence of easing inflation pressures. “Determined buyers are purchasing homes, with Continue Reading about Despite seasonal slowdown, Northwest MLS brokers report pent-up demand for housing
3 Ways You Can Use Your Home Equity
If you’re a homeowner, odds are your equity has grown significantly over the last few years as home prices skyrocketed and you made your monthly mortgage payments. Home equity builds over time and can help you achieve certain goals. According to the latest Equity Insights Report from CoreLogic, the average borrower with a home loan has almost $300,000 Continue Reading about 3 Ways You Can Use Your Home Equity
Let’s Talk Mortgage Rates
Thinking of buying, selling, or refinancing? See What These Numbers Mean For You! Interest rates are the rates at which money can be borrowed for a set period of time. The higher the rate, the more money a borrower must pay in the form of interest on the loan. When mortgage rates are lower, this makes the purchasing of a home more affordable. Although the cost of mortgages is Continue Reading about Let’s Talk Mortgage Rates
Mortgage Rates Will Come Down, It’s Just a Matter of Time
This past year, rising mortgage rates have slowed the red-hot housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is due to the fact that the average 30-year fixed mortgage rate has doubled this year, severely limiting homebuying power for consumers. And, this month, the average rate for Continue Reading about Mortgage Rates Will Come Down, It’s Just a Matter of Time
Should You Update Your House Before You Sell? Ask a Real Estate Professional.
More People Are Finding the Benefits of Multigenerational Households Today
If you’re thinking of buying a home and living with siblings, parents, or grandparents, then multigenerational living may be for you. The Pew Research Center defines a multigenerational household as a home with two or more adult generations. And the number of individuals choosing multigenerational living has increased over the past 50 years. As you consider this option for your own Continue Reading about More People Are Finding the Benefits of Multigenerational Households Today
The Majority of Americans Still View Homeownership as the American Dream
Buying a home is a powerful decision, and it remains a key part of the American Dream. In fact, the 2022 Consumer Insights Report from Mynd found the majority of people polled still view homeownership as a key life achievement. Let’s explore just a few of the reasons why so many Americans continue to value homeownership. The Financial Benefits of Owning a Home One Continue Reading about The Majority of Americans Still View Homeownership as the American Dream
Northwest MLS brokers say motivated home buyers turn to creative financing options
Brokers with Northwest Multiple Listing Service (NWMLS) are reporting a return to some creative financing methods as motivated home buyers and sellers grapple with higher mortgage rates. Despite that, and the seasonal slowdown in activity, 6,435 hopeful homebuyers succeeded in having sellers accept their offers to purchase during October. “Buyers are benefiting from more choices in inventory Continue Reading about Northwest MLS brokers say motivated home buyers turn to creative financing options