The Cascade Team Real Estate Blog

 

  •          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

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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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Have you been considering listing your home?  With inventory levels climbing and homes taking longer to sell, it's more critical than ever to have your home really shine when it hits the market.  

As part of the Ultimate Selling Experience with Greer Real Estate at The Cascade Team, Home Assist can be used for almost anything.

  • Paint touch-up
  • Carpet cleaning
  • Windows cleaning
  • Driveway pressure washing
  • Landscaping
  • ETC:
  • Big Jobs like
  • Kitchen remodel
  • New Roofs
  • Also

When you’re ready to list your home, I will work with the Home Assist coordinator team to secure any needed home renovations. Payment is deferred until home closing, or 180 days and escrow will deduct costs from net proceeds to pay for services rendered.

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Weekly Review
Newsletter - 05/31/2022

Week of May 23, 2022 in Review

Headlines showed that April brought moderating inflation and slower home sales, but that’s not the whole story. Low inventory and completion delays continued to impede home sales, and more signs of an economic slowdown are on the horizon.

Inflation Moderates in April, But Don’t Be Fooled

The Fed’s favorite measure of inflation, Personal Consumption Expenditures (PCE), showed that headline inflation rose 0.2% in April, cooler than estimates of 0.3%. This caused the year over year reading to decrease from 6.6% to 6.3%. Core PCE, which strips out volatile food and energy prices and is the Fed’s real focus, met estimates with a 0.3% rise. Year over year, Core PCE decreased from

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1. What does the changing housing market mean for Sellers? 

This isn't 2008. Home prices haven't started falling. Looking at Western Washington: Area-wide prices for single family home sales (excluding condos) in King County also increased, climbing nearly 20% from a year ago, from $830,000 to $995,000.

And though the supply of newly built homes has increased, that's actually a small part of the overall market. Inventories of existing homes are still some of the lowest on record, as of April.

2. What do increasing interest rates mean for Buyers?

“We are starting to see signs of impact from the significant rise in mortgage rates earlier this year, such as an increase in active listings and months of inventory creeping higher, but the full

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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 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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Weekly Review
Newsletter - 05/23/2022

Week of May 16, 2022 in Review

Sales of existing homes and construction of single-family homes eased in April, while Fed Chair Jerome Powell’s comments caused volatility in the markets.

Existing Home Sales Edge Lower

Existing Home Sales, which measure closings on existing homes, showed that sales were down 2.4% in April at a 5.61 million unit annualized pace. This data likely reflects people shopping for homes in February and March, which included much of the rise in rates we’ve seen – but not all of it. On a year over year basis, sales were only down 5.9%, which is still quite strong considering higher rates, higher home prices and tight inventory.

What’s the bottom line? There were 1.03

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Real Estate Market Update For Parker Colorado

Here are the stats for Parker's housing market, effective May 24, 2022.  The market has seen a slight slowing with the rise in interest rates over the last number of weeks, but demand still appears to be stronger than inventory levels can support.  However prices appear to have leveled out a bit, and even with the talks of inflation and recession, the housing market is still moving forward as home buyers look to enter the market.  If you are looking at buying or selling, now is still a good time if you have a long term time horizon.  In all previous recorded recessions, other than the one in the late 2000's brought on by the housing market, housing prices have continued to climb and rates have historically

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