Real Estate News from Bob Ferguson

January 2022

Visit my Website | bob@outofboundsrealty.com

Millennials Are the New Wave of Homebuyers

One group is having a surprisingly large impact on the housing market, and contrary to popular opinion, it is not the boomers. Millennials accounted for the majority of all home purchases over the past year. In 2021, approximately 1 in 3 buyers (37%) was a millennial, defined as someone born between 1980 and 1995 and ranging in current age from 26 to 41 years old. Millennials make up a significant proportion... Read More

Home Inventory Still Low, While Prices Continue to Climb

By the end of October, total housing inventory had fallen 0.8% to just 1.25 million units, according to the NAR. This was down 12% from a year ago, when there were 1.42 million units on the market. At the current sales pace, inventory levels would supply the market for just 2.4 months, unchanged from a month ago but down from a 2.5-month supply in October 2020. Despite low inventory levels, home sales... Read More

Here’s What’s Trending in Hardwood Flooring

Homeowners are appreciating the added value―aesthetically and monetarily―that hardwood floors bring to a home.

“They also offer what can be an overwhelming variety of possibilities and choices,” says Linda Jovanovich of the American Hardwood Information Center. “Here’s a look at four top flooring trends that will help if you can’t see the wood for the trees... Read More

Market Statistics Around the Puget Sound Region

The market has been very dynamic for years -- either a strong seller's market or a strong buyer's market. I've put together some graphs to show what's happening.

Mortgage Rates since 1971

Have you wondered just how good the good interest rates right now are? And where we’ve come from? Take a look to see what the averages looked like in the past.

Three Reasons to Take Your Time with Home Renovations

For some homebuyers, it makes sense to buy what’s known as a fixer-upper, a home that needs work. Fixer-uppers are appealing because they sell for less than move-in ready homes, and, in some areas, the demand for move-in ready homes leaves fixer-uppers as the only option.

Being prepared to renovate your fixer-upper into your dream home is important. New homeowners may want a transformation overnight, but rushing into renovation projects can be counterproductive. Here are a few reasons to ease into renovations instead of jumping in headfirst... Read More

Start the New Year by Getting Your Finances in Order

Starting a new year is the perfect time to review finances and set goals. Here are seven financial wellness tips to consider in the new year.

Pay Off High Interest Debt
Binging on Black Friday deals or charging gifts to credit may be fun over the holidays, but the expensive credit card bills that show up in January are not. Get your finances in order by making a plan to pay off high-interest debt.

Tax-Advantaged Savings
Participating in your company’s 401(k) plan or opening an IRA can lower your taxes now and improve your retirement later. If you already have a... Read More

Past Newsletters

In case you missed a previous newsletter, all of my previous Out of Bounds Realty newsletters can be found here.

Bob Ferguson, 11423 20th Avenue S, Burien WA 981868

The material in this publication is provided for your informational purpose only and is not intended to substitute professional advice. If your property is currently listed with a Real Estate Broker, this publication is not intended as a solicitation.

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