Real Estate Blog

Getting your home ready to sell is all about striking the right balance. While you want your property to shine for potential buyers, you don’t need to fix every little thing—or embark on costly upgrades. In fact, many big-ticket projects won’t pay off at closing. Here’s a friendly guide to help you focus on the repairs and updates that matter most, and skip the ones that won’t boost your bottom line. Why You Don’t Have to Fix Everything It’s natural to want your home to look its best, but pouring money into every imperfection can backfire. Many buyers prefer to make their own improvements and may not value your upgrades. Plus, most major renovations don’t recoup their costs. For example, a total kitchen overhaul or adding a new pool might sound like a great idea, but these projects rarely deliver a full return on investment. Instead, focus on what will make the strongest impression without draining your wallet. What You Should Fix When prepping your home for the market, prioritize the...

Exciting news for the Pacific Northwest! The Biden-Harris Administration has awarded $16 million to expand affordable housing for people with disabilities in Oregon and Washington. This funding is part of a larger $138.5 million grant from the U.S. Department of Housing and Urban Development (HUD), aimed at increasing housing options and supportive services for low-income individuals with disabilities across the country. Here’s what this means for our local communities: Washington is receiving $8 million, which will create 158 new housing units. Oregon is also getting $8 million, allowing for the development of 153 housing units. This initiative is part of HUD’s Section 811 Project Rental Assistance (PRA) program, which focuses on providing rental assistance and supportive services to help individuals with disabilities live more independently. It’s a significant step forward in reducing housing costs and expanding access to affordable housing, especially for those who need it most. H...

During the intense housing market of the pandemic years, cash offers dominated, often outpacing traditional buyers. However, the landscape is changing, offering new opportunities for smaller investors and regular homebuyers. Decline in All-Cash Purchases According to a recent Realtor.com® report, the percentage of investors buying homes with all cash dropped to 64% in the first quarter of 2024. This is a notable decrease from the fourth quarter of 2021, when nearly 69.7% of investors were making all-cash offers to secure properties in competitive bidding wars. This marks the lowest level since 2008. For regular homebuyers, this trend is good news. With fewer investors wielding cash offers, the playing field is leveling, making it easier for everyone to compete. Why Cash Isn't King Anymore One significant factor in this shift is the rise of independent investors, often referred to as "mom and pop" investors, who now make up 62.6% of investor purchases. These smaller invest...

 As we keep an eye on the housing market, mortgage rates have remained steady this week, leaving many potential homebuyers in a holding pattern. Meanwhile, inventory is growing, but sellers are starting to pull back. Let's break down the latest market trends and what they mean for you. Mortgage Rates Update This week, the average 30-year fixed-rate mortgage edged up slightly to 6.78%, just above last week's 6.77%, according to Freddie Mac. The 15-year fixed-rate also saw a slight increase, reaching 6.07%. These rates have stayed relatively stable following a recent three-week decline. What’s Next for Interest Rates? Next week's Federal Reserve meeting is expected to provide some clarity on the future of interest rates. While a rate cut in July is unlikely, many analysts anticipate that cuts could begin in September. Danielle Hale, chief economist at Realtor.com, suggests that even a 'data dependent' stance from the Fed could hint at lower rates on the horizon, poten...

 Understanding a home's price per square foot can help you determine if you're getting a good deal or paying too much. It's a handy metric when you're shopping for a home, offering a quick way to gauge whether the seller's asking price is reasonable compared to similar homes in the area. Zillow® analyzed the top 50 U.S. metro areas to find the lowest and highest price per square foot for a typical home. As of April 2024, the median price per square foot in the 10 least expensive metros was under $164, with Cleveland being the most affordable at $124 per square foot. On the other hand, the 10 most expensive metros ranged from $328 to $1,004 per square foot. This median figure represents the middle point, where half of the homes are more expensive per square foot and half are less. Many of these metros also appeared on Zillow's list of the 25 most affordable places for buyers in 2024. However, not all of these affordable markets had low enough square footage cost...

  Home Warranty 101: What You Need to Know Before Buying One If you’re a homeowner in Washington state, you might have heard of home warranty plans and wondered if they are worth it. A home warranty is a service contract that covers the repair or replacement of certain home systems and appliances when they break down due to normal wear and tear. Sounds good, right? But before you sign up for one, you should know the pros and cons of home warranty plans and how they differ from homeowners insurance and builder warranties. In this blog post, I’ll give you the lowdown on home warranty plans and help you decide if they are right for you. What are the benefits of home warranty plans? One of the main benefits of home warranty plans is peace of mind. You don’t have to worry about finding a reliable contractor or paying for expensive repairs when something goes wrong with your home. With a home warranty plan, you just pay a monthly or annual fee and a service call fee, and the home warrant...

Buying a home is a significant milestone, and choosing the right mortgage can make all the difference in your homeownership journey. In this comprehensive guide, we'll explore the various types of mortgages and financing options available to homebuyers. Plus, we'll dive into how changing mortgage rates can influence home market prices, empowering you to make informed decisions. Types of Mortgages: Fixed-Rate Mortgage: A fixed-rate mortgage offers stability with a consistent interest rate throughout the loan term, typically 15, 20, or 30 years. This makes it easier to budget, as your monthly payments remain unchanged. Adjustable-Rate Mortgage (ARM): ARMs offer an initial fixed-rate period followed by adjustments at predetermined intervals. While initial rates are lower, they can rise over time, impacting your monthly payments. FHA Loan: Insured by the Federal Housing Administration, FHA loans are popular among first-time buyers. They require a lower down payment and are more acc...