Tagged : The Cascade Team RSS Icon
Found 205 blog entries tagged as The Cascade Team.

Mortgage Rates Just Hit a 4-Month Low, but Do Homebuyers Even Notice—or Care?

Recognize that media outlets and social media influencers are competing for scoops and eyeballs. As a result, their reports sometimes exaggerate issues, don’t tell the whole story, or get it wrong…. And the same thing can be said about the local housing market.

Mortgage rates are down again this week, which means things are looking up for homebuyers.

The average rate for a 30-year fixed-rate mortgage ticked down 2 basis points to 6.13%, according to Freddie Mac, continuing a pattern of rates seesawing lower since topping 7% in the fall. In fact, mortgage rates are at their lowest levels since mid-September 2022.

Yet, while lower borrowing costs are a boon for

366 Views, 0 Comments
Read Full Post

A strange topic for a blog post I know, but for the past month I have felt like I have been living in the Twilight Zone dealing with ever increasingly aggressive rabbits….

Blame the unusual weather patterns, pesticides, or sheer malicious intent; any and all reasons end with one undeniable fact: The rabbits in Sammamish are out of control and they are Hell-bent on taking one of us with them when they go…

On any given morning, just as the night gives way to the light of day you can see them waiting in the bushes just off the side of local neighborhood roads. Carefully you head down the street, eyes peeled, the radio playing lightly in the background….. And “BOOM!”

Another rabbit shoots out into the road, darting directly under your tires

525 Views, 0 Comments
Read Full Post

A new survey finds Americans are woefully misinformed about the nation’s mercurial housing market, even as millions of them prepare to buy homes.  

Twenty-eight million Americans plan to purchase a home in 2023, according to a survey released Tuesday by NerdWallet, the personal finance company. On average, they hope to spend $269,200. 

But that figure falls more than $100,000 short of the median home price, which was $388,100 in December, according to the real estate brokerage Redfin. Home prices crossed the $269,000 threshold sometime in 2013, Federal Reserve statistics show. 

If prospective homebuyers sound oddly optimistic about prices, that may be because they are pessimistic about the state of the housing market. Two-thirds of Americans

222 Views, 0 Comments
Read Full Post

NOW is ABSOLUTELY the best time!

We all know that home sellers have had the upper hand for several years, but those days are behind us, and though the market has slowed, there are still buyers out there. The difference now is that higher mortgage rates and lower affordability are limiting how much buyers can pay for a home.

Because of this, I expect listing prices to pull back further in the coming year, which will make accurate pricing more important than ever when selling a home. 

In Seattle I expect somewhere between 9 and 15% continued drop. (That’s around 1% per month but still much less than we saw in many cases last year.)

“As a side note remember we saw some areas literally increase by 100% in a single year during the pandemic.

188 Views, 0 Comments
Read Full Post

What began as an extension of 2021’s high-flying real estate frenzy soon enough tumbled and fell to a near standstill by the Federal Reserve’s hiking of interest rates, rendering borrowing costs too pricy for most would-be homebuyers, who, no matter how hard they tried, couldn’t bend the numbers to their will. 

As rates rose, existing-home sales fell, builders pumped the brakes, price growth decelerated, and property sat on the sidelines far longer than forecasted. Real estate companies, meanwhile, braced for lean times after riding high through most of 2020 and 2021, with thousands of workers laid off and quarterly earnings reports showing losses — in some cases, to an unprecedented degree. 

To better measure an immeasurable 2022, we searched high

147 Views, 0 Comments
Read Full Post

2022 Recap

2023 Predictions

National and Industry-Wide Headlines

What began as an extension of 2021’s high-flying real estate frenzy soon enough tumbled and fell to a near standstill by the Federal Reserve’s hiking of interest rates, rendering borrowing costs too pricy for most would-be homebuyers, who, no matter how hard they tried, couldn’t bend the numbers to their will. 

As rates rose, existing-home sales fell, builders pumped the brakes, price growth decelerated, and property sat on the sidelines far longer than forecasted. Real estate companies, meanwhile, braced for lean times after riding high through most of 2020 and 2021, with thousands of workers laid off and quarterly earnings reports showing losses — in some cases, to an

136 Views, 0 Comments
Read Full Post

KIRKLAND, Washington (January 6, 2023) – Last year was a tale of two housing markets, suggested broker Dean Rebhuhn in commenting on the latest statistics from Northwest Multiple Listing Service.

  •          In the first half of the year, we had low interest rates, rising prices, and little inventory
  •          The second half of the year brought increasing interest rates, some lowering of prices, and increasing inventory
  •          The local housing market in 2022 ended with a whimper rather than a bang
  •          Overall, the housing market is going to continue falling off the artificial ‘sugar high’ that was a function of the artificially low mortgage rates during the pandemic
  •          Gardner, the Windermere economist, expects prices will
562 Views, 0 Comments
Read Full Post

Mortgage rates are continuing their downward trend as investors keep a lookout for more signs of cooling inflation.

“This week, labor cost data provided a ray of hope as it showed that hourly compensation was lower than previously reported in the second and third quarters for all sectors except manufacturing,” writes Danielle Hale, chief economist at Realtor.com, adding that gas prices are also plunging.

Nadia Evangelou, NAR senior economist and director of real estate research, commented: 

“Mortgage rates continue to move down. According to Freddie Mac, the rate on a 30-year fixed mortgage dropped to 6.33% from 6.59% the previous week. Housing affordability rose about 8% in the last four weeks as mortgage rates moved closer to 6%. If inflation

293 Views, 0 Comments
Read Full Post

Mortgage rates are continuing their downward trend as investors keep a lookout for more signs of cooling inflation.

“This week, labor cost data provided a ray of hope as it showed that hourly compensation was lower than previously reported in the second and third quarters for all sectors except manufacturing,” writes Danielle Hale, chief economist at Realtor.com, adding that gas prices are also plunging.

Nadia Evangelou, NAR senior economist and director of real estate research, commented: 

“Mortgage rates continue to move down. According to Freddie Mac, the rate on a 30-year fixed mortgage dropped to 6.33% from 6.59% the previous week. Housing affordability rose about 8% in the last four weeks as mortgage rates moved closer to 6%. If

295 Views, 0 Comments
Read Full Post

Mortgage rates continued their plunge from a peak of 7.08% in November, marking their biggest three-week drop in 14 years.

“Mortgage rates continued to drop this week as optimism grows around the prospect that the Federal Reserve will slow its pace of rate hikes,” says Freddie Mac chief economist Sam Khater.

Mortgage rates this week

30-year fixed-rate mortgages

The average 30-year fixed-rate mortgage dropped to 6.49%, down from 6.58% the week prior, Freddie Mac reported Thursday. A year ago, the 30-year rate averaged 3.11%.

Mortgage rates began to slide below 7% after the most recent inflation data was released in mid-November. The consumer price index was at 7.7%, coming in below economist's expectations.

“Data shows that mortgage

201 Views, 0 Comments
Read Full Post