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Real Estate News from Bob Ferguson
February 2023 Visit my Website | bob@outofboundsrealty.com

Home Sellers Need Help from Real Estate Professionals for Accurate Pricing

 

A quick internet search will reveal dozens of automated valuation modeling (AVM) sites that promise to tell you how much your home is worth. These AVMs use statistical modeling techniques that “value” your home by comparing it with the price of similar-sized homes that have recently sold in your area. Using proprietary software, AVMs crunch publicly available numbers from the multiple listings service and combine this... Read More

Four Reasons Today’s Market Is Different from the 2008 Housing Crisis

 

Today’s housing market is very different from the 2008 housing crisis. At the NAR Real Estate Forecast Summit, NAR Chief Economist Lawrence Yun highlighted the four key reasons why home prices are expected to remain steady in 2023.

Job Market
During the last recession, 8 million jobs were lost in just one year. However, in the current labor... Read More

Lower Mortgage Rates Could Help Declining Home Sales

 

For the 10th consecutive month, existing-home sales have declined, according to the National Association of Realtors (NAR). In November, every sales region in the country reported both month-over-month and year-over-year declines. This level of sales activity was last seen in the country in 2020, when COVID-19 led to economic lockdowns. According to Lawrence Yun, chief economist for NAR, November’s sales declines... 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.

Past Newsletters

 

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

Small Changes Can Add Up to Big Energy Savings

 

Energy prices are up, and they show no sign of moving downward any time soon. It’s a smart idea to reduce your electricity usage in any way you can to lessen the impact of higher prices. These tips might not make a huge difference individually, but combined, they could shave a welcome amount off your bills.

Lower Lighting Bills
Leaving lights on in empty rooms is a total waste of power. Installing motion detectors is a smart way to keep areas well lit when people are present and save electricity when lighting is not necessary. Installing dimmer switches... Read More

Smart Ideas for How to Store Your Extra Bathroom Items

 

Along with its daily use, the bathroom comes with a lot of stuff—towels, hair products, and more. Most bathrooms aren’t equipped with efficient storage, so utilizing available space is key. Try these ideas:

Do-It-Yourself Storage Solutions 

  • Install a wall cabinet. This can be placed over the toilet in a small space or on any convenient wall that puts bathroom items within easy reach.

  • Crate shelving serves up chic and effective storage, especially when it’s hung on the wall... Read More

Mortgage Rates since 1971

 

Interest rates have changed -- jumped, some say. But, looking at the past can put into perspective how good or bad the current rates really are. Take a look.

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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