Something from Bob
As I write this, we are officially 1 day away from Summer -- though, in the PNW, we've definitely been seeing "Junuary" (ask me if you don't know this term😁). BUT, we are supposed to see 80s over the next 3 days. Ah, weather in the PNW is always interesting...
Interest rates remain in the 6.5% to 7.5% range. Pundits are constantly saying they will be dropping, but that hasn't happened yet. In fact, the current yearly interest rate is the highest since 2001 -- but not nearly as high as in the early 80's. To see that and more, check out the historical highs and lows since 1971 on my website. Of course, you want to have the best chance at the lowest rate, so make sure your credit score is as high as possible.
The market continues to statistically be a seller's market. But, it's not the "standard" seller's market we've seen in the past. The Northwest Multiple Listing Service (NWMLS) has recently released their monthly market update. This provides a recap of the market, as well as graphs showing monthly statistics and market trends. Check it out.
As always, I'm available to talk about your plans and/or anything I've mentioned above.
Until next month...
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Investing in Your Future: The Smart Choice of Homeownership
Owning a home is central to the American dream. In an era of economic uncertainty, the newest generation of homebuyers is nervous about taking the plunge. Are these fears justified? Whether you're a homeowner or considering it, understanding the advantages of homeownership is crucial.
For Current Homeowners
If you're already on the property ladder, you understand the value that comes with owning your own... Read More
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Attending an Open House? Essential Tips for Serious Buyers
Exploring potential homes during open houses is an exciting part of the homebuying journey, but it's also an area where mistakes happen. Here are some essential tips for getting the most out of these opportunities:
Partnering with a Professional
It's a smart decision to have a real estate agent accompany you during open houses. Their professional perspective provides valuable... Read More
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Fading Trends: Five Design Styles That Are Showing Their Age
Home design trends come and go, but creating a timeless space requires thoughtful consideration. Here are five design styles that may be aging your home, along with a strategy to refresh your space and maintain a timeless appeal:
The Open Floor Plan
While open floor plans have been popular for decades, there's a growing appreciation for defined... Read More
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National Home Sales Fall While Home Inventory Increases
Across the country, existing-home sales fell in March. According to the National Association of Realtors (NAR), declines were recorded in the Midwest, South, and West, but sales inched higher in the Northeast for the first time in four months. Sales were down year over year, however, in all sales regions. While home sales have recently shown signs of rebounding, overall sales were stagnant due to high interest rates. Yet, according to Lawrence Yun, chief economist for NAR, there might soon be a turnaround: "There are nearly six million more jobs now compared to pre-COVID highs, which suggests more aspiring homebuyers exist in the market... Read More
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How to Maximize Landscaping in Tiny Backyards
If you live in an urban area, you might be limited on space in your backyard. Whether you are challenged with minimal sunlight, not much ground to work with, or a fenced-in area, you still have landscaping potential to transform your tiny backyard. Here are four landscaping tips:
1. Portable Pots
If you can incorporate movable planter boxes and pots into your yard, you can transform a cement or wooden patio into a greenery oasis. Planters that are smaller or equipped with wheels can make these pots more mobile, which can easily be rearranged at any time. This will also give sensitive plants... Read More
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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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Past Newsletters
In case you missed a previous newsletter, all of my Out of Bounds Realty newsletters can be found here.
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