Three Questions to Ask Before Buying a Flipped House
Most consumers are familiar with the concept of house flipping, thanks to a variety of reality shows. Smart, seasoned investors will renovate a house to be move-in ready and then sell at tight profit-margins to make a quick sale. But how does a buyer know if a flipped home is a solid buy or a real rip-off? When it comes to buying a flipped house, asking these three big questions will help ensure you don’t... Read More
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Foundation Damage Is Costly to Repair, Here's How to Identify It
Foundation issues are the most common type of property damage. According to the National Association of Home Builders, foundation damage accounts for approximately 34% of home repairs. While foundation repair is the second-most expensive type of repair after major structural repairs, it’s a critical problem to fix. If left alone, these issues can lead to more serious structural problems, such as cracks... Read More
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Housing Affordability Declining, but Buyer Demand Remains High
Buyers looking to enter the housing market are being hit with both rising mortgage rates and sustained price increases, which are both negatively impacting housing affordability. According to Lawrence Yun, National Association of Realtors' (NAR) chief economist, some buyers "who had previously qualified at a 3% mortgage rate are no longer able to buy at the 4% rate." In addition, monthly payments have increased by 28%... Read More
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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.
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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.
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Buyer's, Don't Make These Mistakes in a Seller's Market
Buying a home is an exciting yet daunting experience at the best of times, buying one in the midst of a blistering seller's market takes it to an entirely new level. Be a step ahead of the game by knowing how to avoid some common mistakes.
1. Not Getting a Mortgage Pre-Approval
With so many offers coming their way, sellers have the luxury of picking the cream of the crop. Prove your ability to buy the house by getting pre-approved by a lender. Pre-approval, which involves pulling your credit and going over your financial statements, is different from pre-qualification, which is... Read More
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Spring Cleaning 101
Start From the Top: Start with your tallest shelf and work your way down until everything in the room has been dusted, washed, or wiped. This is the most effective way to clean because any excess dust or grime you don’t get on the first round will be waiting for you on lower surfaces. Always start your cleaning routine with a thorough dusting and end by sweeping, mopping or vacuuming your floors.
What Lies Beneath: Be prepared to move everything you own. It’s amazing how much dirt, dust, and dander can accumulate under your couch, behind a hutch, or even underneath that pretty flower vase. Just because you can’t see the dust doesn’t mean it’s... Read More
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Past Newsletters
In case you missed a previous newsletter, all of my previous Out of Bounds Realty newsletters can be found here.
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