Extremely low interest rates mean would-be home buyers have more buying power, but sparse inventory and increasing home prices in many parts of Washington state are leaving many buyers unable to take advantage of these attractive rates. The lowest number of homes for sale in more than 20 years combined with the lowest mortgage rates on record are resulting in the perfect storm of frustration for buyers – but they are still out in force.
The August report from Northwest MLS, which covers 23 counties, shows pending sales surged nearly 25% from a year ago. Within the four-county Puget Sound region encompassing King, Kitsap, Pierce and Snohomish counties, brokers reported 9,179 pending sales
In order for buyers to be successful in purchasing a home in today’s climate, they have to do some pretty illogical things. As examples, he listed waiving inspections, paying more than the house is worth, or agreeing to pay the difference in cash between the lower appraised value and the sales price. The few homes that are on the market are being snapped up quickly, and this excess of demand is causing record-high prices for single family homes in the Puget Sound area. Also noted are the rising demand for lower density housing in outer suburbs.
Lenders and other housing professionals and advisors can help first-time homebuyers understand the mortgage process and available resources and options, particularly during financially turbulent times.
8 Date Nights for Empty Nesters. Now that the kids are grown and out of the house take some time to go on a grown up date and rekindle your relationship.
Sweater weather is coming—and you need more than a PSL to get ready for it. Consider this everything you need to know before your house transitions from hot summer days to cool fall nights...and eventually freezing temperatures.
It's time to get your family out into the great outdoors! These backyard camping ideas will help you bring the experience of camping right to them. They'll get all the good parts of heading off to camp — the camping activities, the songs, the outdoor air — without any of the bad.
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