Here's How a CMA Helps Find
Your Home's Value
A comparative market analysis (CMA) is the most accurate way for a real estate agent to determine the market value of a home. It has some of the same characteristics as an appraisal but a different purpose. A home appraiser usually works for the mortgage lender. The appraiser's job is to conservatively determine the value of a home to assure the lender that they will recoup most or all their investment if the buyer defaults... Read More
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Instantly Elevate Your Living Room Style with These Decor Tips
Improve your living room for less than you may think. Here are some ideas to get started.
Consider the Focus
A room may look cluttered and unattractive because it lacks focus. Decide what the focal point of the room was meant to be when the house was constructed. If there is a fireplace, use it as your point of focus. Arrange the furniture so that it flows in the direction... Read More
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Mortgage Rates Are on the Rise: Here Is What to Expect in 2022
Mortgage rates are up and expected to keep climbing; this might lead to moderation in demand from homebuyers and a slight slowdown of home price growth. Despite this, economists with Freddie Mac believe the single-family housing market should remain stable throughout the year. According to Freddie Mac Chief Economist Sam Khater, "The combination of a large number of entry-level homebuyers... 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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2021 Had the Highest Home Sales Since 2006
After three steady months of increases, existing-home sales fell 4.6% in December, according to the National Association of Realtors (NAR). The trend was nationwide, as all four major U.S. regions reported both month-over-month and year-over-year declines. Yet, despite the drop in monthly sales, overall sales increased in 2021 by 8.5% from 2020. According to NAR Chief Economist Lawrence Yun, sales for 2021 reached the highest annual level since 2006. "December saw sales retreat, but the pullback was more a sign of supply constraints than an indication of a weakened demand... Read More
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Competing to Buy in a Hot Market? Try These Six Strategies to Succeed
A seller's market happens when there are more homebuyers than houses for sale. This inevitably leads to more than one person being interested in the same home, and bidding wars will ensue. It is a great scenario for the seller but not so much for the buyer. High demand drives up housing prices while decimating a buyer's ability to negotiate.
If you need to buy during a seller's market, be prepared to miss out on the first—and possibly second and third—house you want. Expect to pay more than the asking price. Expect to go against multiple offers. However, as daunting as this sounds, you can land... 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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