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Found 665 entries published by Cary W Porter.

High Impact Real Estate Marketing & 4% Total Commissions For Today’s Home Sellers

The Cascade Team Real Estate is a company like no other because of the marketing, service and home seller savings we provide. We understand that in today’s real estate & home selling environment, we need to provide a high level of real estate service and widespread marketing of the home for sale, utilize technology to keep our home seller clients in the communication loop and provide added value to both buyers and home sellers in the real estate transaction. The effective use of technology tools allows our local real estate agents to focus more of their time on servicing our clients and finding buyers for your home, all the while providing the most comprehensive real

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Mortgage lending took a nosedive across the U.S. in the first quarter of 2022, according to a new report from ATTOM. 

Secured mortgages fell 18% from the fourth quarter of 2021 and were down 32% from the same time last year — the biggest year-over-year drop since 2014. This marked the fourth quarterly decrease, which the data management company said was the result of “double-digit downturns in purchase and refinance activity, even as home-equity lending rose.”

Along with the 32% decline in residential mortgages, the report found the number of new loans fell for the fourth straight quarter, meanwhile refinance lending fell another 22% and purchase mortgages were down 18%. 

Mortgage rates have climbed to their highest level since 2008, pinching

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The housing market is entering the ‘most significant contraction in activity since 2006,’ says Freddie Mac economist.

Cracks are beginning to appear in the red-hot housing market. The pandemic's housing boom is finally running on fumes. Home sales are falling. Inventory levels are rising. And home sellers are cutting list prices at the fastest clip since 2019.

Spiraling mortgage rates on top of record-high and still-rising home prices are leading many experts to predict the real estate market is on the verge of a correction—if it isn’t already in one. They anticipate home prices will flatten, or even go down a bit, in certain markets.

This Shift is a lot bigger than a seasonal cooldown. The economic shock of higher mortgage

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  •          Home sellers really need to re-think their expectations.
  •          The days of “multiple offers and waived inspections are behind us.”
  •          Active Listings up a whopping 59% from a year ago.
  •          Both pending sales (mutually accepted offers) and closed sales during May were down from a year ago.
  •          Rising interest rates coupled with inflation are causing buyers that rely on conventional mortgages to reconsider the affordability.

Home sellers really need to re-think their expectations,” suggested Mike Larson, a member of the board of directors at Northwest Multiple Listing Service (NWMLS) when commenting on statistics summarizing May activity. The new report showed a significant increase in active listings

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The Real Estate Market “Shift” Is Here

Looks like America's home buying binge is winding down. There's a vibe shift visible in both the official data and in the anecdata from sellers, buyers, and brokers.

Why it matters: This is just what Jerome Powell ordered. The slowdown means the Fed's rate hikes are working — cooling demand in an overheated market.

"The buyers just stopped buying," said Shauna Pendleton, an agent with Redfin. Buyers who were flush with cash courtesy of the also formerly booming stock market have completely pulled back.

  • Some listings now sit for weeks without even a showing. Some homes are sitting for 42 days without a single showing.
  • Redfin agent Robin Glaysher said five people showed up to an open house last
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Fueled by unprecedented gains in home values, Washington State’s red hot real estate market has led to “unprecedented” increases in home values that will drive up next year’s property tax bills, according to the King County assessor’s office.

 The Sammamish Plateau topped the list with a 52% increase from the previous year. That’s double the still eye-popping 26% increase in Federal Way. Other Eastside cities also saw staggering price increases; areas such as Redmond (43% on average), Woodinville (44%) and Kirkland (44.5%).

While not as extreme as on the Eastside, in Seattle proper, values are up 19% in Rainier Beach and 20% in Magnolia, according to the assessor’s office, which released a sample of data Thursday but is still finalizing values

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  •          The Puget Sound housing market has shifted down several levels
  •          Not all homes are selling within the first week on market
  •          Multiple offers will not be as commonplace as they’ve been in the last two years
  •          The latest MLS report showed a mix of positive and negative numbers.
  •          New listings (11,681) surpassed the number of pending sales
  •          This is evidence that interest rates are having a cooling effect.

KIRKLAND, Washington (May 5, 2022) –Rising interest rates and inflation, coupled with slight improvement in inventory, may bring some normalcy to Western Washington’s frenzied housing market suggest some brokers with Northwest Multiple Listing Service.

The Puget Sound housing

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The past few years in western Washington can be referred to as the golden age of selling your home. Sellers have had unprecedented control over the market commanding prices up to hundreds of thousands of dollars over asking price. Numerous factors have contributed to this including a massive influx of people to the area, historically low inventory, prime location. However, the largest factor leading to such a competitive buyers’ market was interest rates. The lowest rates in the history of the United States occurred in 2020 with rates sitting at 2.68% (Rocket Mortgage). This led to a frenzy by buyers, all of whom were trying to lock in the lowest rate possible. Additionally, this low of a mortgage rate allowed buyers to spend more and justify

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Average mortgage rates are higher for all loan types today with the 30-year mortgage rate crossing above 5%.

  • The latest rate on a 30-year fixed-rate mortgage is 5.17%. ⇑
  • The latest rate on a 15-year fixed-rate mortgage is 4.197%. ⇑
  • The latest rate on a 5/1 ARM is 3.974%. ⇑
  • The latest rate on a 7/1 ARM is 4.135%. ⇑
  • The latest rate on a 10/1 ARM is 4.245%. 

Fed Chair Jerome Powell is done sitting idly on the sidelines as inflation burns away Americans’ purchasing power. The plan? Draw upon the central bank's decades-old inflation playbook by increasing rates until demand pulls back, and price growth slows.

This is already presenting a test for runaway inflation's poster child: the U.S. housing market.

CoreLogic, a real

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If you’re in the market for a home, take note: The 2nd quarter of 2022 may be the opening you’ve been looking for.

  •          February’s improving inventory and a slowing pace of price increases may ease some of the competitive pressures.
  •          Buyers in King County are jumping for joy over the nearly 40% increase in new listings.
  •          King County also saw a 31% increase in pending home sales month-over-month, as well.

Multiple offer situations are the norm for today’s home buyers, but some brokers with Northwest Multiple Listing Service suggest February’s improving inventory and a slowing pace of price increases may ease some of the competitive pressures.

Commenting on the latest statistical report from Northwest MLS,

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