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Community Events & News Let’s Dance! Prices Stabilize & Even Grow Amidst a Chaotic Interest Rate Market If we let the media determine the mood regarding the housing market, it would be time to shut the party down and call it a night. I’m here to report that the celebration is far from over and there is still fun to be had! While it is not all shiny and bright (it never is), we […]
Community Events & News A Busy Legislative Session for Housing: 10 Bills Passed That Will Affect Housing in Our State On April 23rd the Washington State Legislature adjourned after passing 10 new bills that will affect housing. Some of the bills are geared toward creating more transparency around brokerage transactions, some are intended to institute more opportunities for building density to provide more affordable housing, and some are more regulatory to help guide and ease […]
Community Events & News Understanding the Difference Between Long-Term & Short-Term Interest Rates It is very important that consumers understand the difference between long-term interest rates and short-term interest rates. Long-term rates involve home mortgages such a conventional 30-year fixed, Jumbo, FHA, and VA loans. Short-term rates involve car loans, credit cards, and Home Equity Lines of Credit (HELOCs). While both types of rates have gone up over the course of […]
Community Events & News Housing Absorption Trends, Interest Rates Hovering, and Inventory Constricting. Three key elements to pay attention to when assessing prices and the real estate market. As we round out the first quarter of 2023, three real-time trends that help us understand what is currently happening in the real estate market are absorption data, interest rates, and inventory levels. Right now, the market is heating up due […]
Community Events & News Which is better, renting or buying?: The financial benefits of owning real estate. The financial benefits of owning real estate significantly outweigh the option of renting. Renting is certainly a must for some, and is what one may have to do while they build up to becoming a homeowner. Becoming a homeowner requires solid employment, good credit, and some type of down payment. Savings can all be built over time and […]
Market Trends and Statistics Holy Shift, Again! Most of the Market Correction Behind Us & Growth Ahead! Markets change fast! We experienced a substantial shift in 2022 with the first half of the year feeling like a completely different market than the second half of the year. A 3-point increase in interest rate was the main culprit along with inflation and affordability for the 2022 market correction we experienced. A market correction is defined […]
Market Trends and Statistics QUARTERLY REPORTS Q4 2022 2022 was a transitional year for the real estate market that started off incredibly seller-centric and ended in balance. We started 2022 with interest rates hovering in the low 3%, peaked at 7% in late fall, and ended the year hovering in the mid 6%. This significant jump created a correction in home prices as the cost […]
Community Events & News December is for GIVING at Windermere North! Between holiday parties, family obligations, work, and the pressure of finding the perfect gift, this time of year can come and go in a flash. At Windermere North, we never want this season to go by without coming together to lift up our community and give back in meaningful ways.   Our office-wide annual holiday […]
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Community Events & News Key Factors to Note as the Market Recalibrates in the New Year 2022 has been an eventful year in the real estate market and the economy. After 2 years of pandemic-fueled demand and historically low interest rates, we experienced a shift. The Fed quickly raised rates (by 2 points) from April to October to combat inflation, curbing buyer demand as affordability took a hit. The overall economy […]
Community Events & News Matthew Gardner’s Top 10 Predictions for 2023   1 There Is No Housing Bubble Mortgage rates rose steeply in 2022 which, when coupled with the massive run-up in home prices, has some suggesting that we are recreating the housing bubble of 2007. But that could not be further from the truth.   Over the past couple of years, home prices got ahead […]
Community Events & News Returning to Normal: Buyer Affordability Dictates the Market While Sellers Retain Equity There is no doubt that 2022 has been one of the most eventful years in real estate. This is saying a lot after experiencing the record-breaking years of the pandemic. We will probably never see anything like 2020 and 2021 again. During this time the market responded to a historical event that motivated the rearrangement […]
Community Events & News Navigating a balanced market: property preparation, pricing & negotiations. As we experience the fall equinox, when the length of a day is equal to the night, we are also experiencing a similar balance in the real estate market. We define a balanced market to have 2-4 months of available inventory. This means that if no new homes came to market, we would be sold […]
Community Events & News Understanding the Current Shift in the Real Estate Market: How Interest Rates Affect Prices As we continue to examine the shift in the market, it’s important to take a deep dive into interest rates. Since the first of the year, long-term mortgage interest rates have increased 2.7% from 3.11% on 12/30/21 to the peak of 5.81% on 6/23/22. Since then, rates have started to level out. For instance, on […]
Monthly Newsletter Understanding the real estate market shift: Location is key! There is an old saying in real estate: location, location, location. A property’s location has the biggest influence on its value. Through the pandemic years, we saw changes to this idea due to the ability to work at home. Before remote working became more common, homes located in neighborhoods close to job centers, such as Seattle, were at […]
Community Events & News Summer Food Drive! Every year since 1984, Windermere has designated one day to help make a positive difference in the communities where we work and live. 2022 is the 7th year that my office has spent this day working to put fresh produce on the tables of local families who need a little help. On June 10th, my […]
Community Events & News Understanding the Current Shift in the Real Estate Market: PERSPECTIVE IS KEY! “How’s the market?” is a question I am asked all the time. It is a common and understandable topic in casual conversation over the neighbor’s fence, at a party or family gathering. Our market is currently shifting…inventory is increasing, days on market are lengthening and we are seeing a slowdown in price appreciation. Believe it or not, […]
Community Events & News The Gardner Report At Windermere, we are fortunate to have Matthew Gardner as our Chief Economist. In fact, we are one of the only real estate companies in the country to have such a well-respected expert sitting in this role. Not only is Matthew an asset to Windermere brokers and their clients, but he is a coveted resource […]
Community Events & News Spring Market in Bloom – Keeping Perspective is Paramount As we round out the first quarter of 2022 and head into the notorious Spring Market there are a handful of factors that should be considered whether you are a buyer or a seller. Paying attention to the anticipated increase in housing supply, monitoring buyer demand, and assessing the effects of rising interest rates on the […]
Community Events & News UPDATE: Global influences on the Housing Market & Interest Rates A lot has happened in our world since the first of the year, specifically the rise in inflation and the recent Russian invasion of Ukraine. These factors can influence consumers and affect the housing and financial markets. Additionally, global unrest has had a clear influence on interest rates, driving them back down after a 1-point […]
Community Events & News With seller equity at an all-time high, it is still important who you align with to get the best results 2022 has had an incredibly eventful start in our local real estate market. In January, the average list-to-sale price ratio (the percentage a house sells for in comparison to the list price) in King County was 105% and in Snohomish County it was 106%. This is in conjunction with complete year-over-year median price appreciation (the […]
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