Real Estate Blog

 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...

 When you're ready to buy a home, tapping into the expertise of real estate agents can be invaluable. We asked four of our partner agents to share their best advice on staying on budget in a competitive housing market. Whether you're a first-time buyer or a seasoned homeowner, these 21 tips can help you navigate the journey to homeownership. 1. Find Your Financial Comfort Zone Shelly Salas, a broker with Your Home Sold Guaranteed Realty, emphasizes the importance of getting pre-qualified for a loan to understand your purchasing power. She advises clients to consider their current rent and desired lifestyle when determining their budget. "Just because you qualify for a higher loan doesn't mean you want to stretch your finances thin," Salas says. "It's about finding a home you love within a comfortable budget." 2. Explore Government Programs for Down Payments Government programs can assist with down payments, even if only one partner has never owned a ...

  How to Winterize Your Home in Port Angeles, Washington Winter is coming, and if you live in Port Angeles, Washington, you know that it can bring cold temperatures, rain, snow, and ice. While winter can be a beautiful and cozy season, it can also pose some challenges for your home. That’s why it’s important to winterize your home before the cold weather arrives, to protect it from damage, save energy, and keep you and your family comfortable and safe. In this blog post, I’ll share some tips and tricks on how to winterize your home in Port Angeles, Washington, based on the average weather and climate of the area. What is the average weather and climate in Port Angeles in winter? Port Angeles has a sub-oceanic climate, with mild, rainy winters and mild, fairly sunny summers. The town is located in the northwest of Washington state and overlooks the Strait of Juan de Fuca. It is in the area protected by the Olympic Mountains, where there is a relatively dry and sunny microclimate. Ho...

  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...

Can a manufactured home become real property? The answer is a resounding yes, but with some crucial considerations. The process of classifying a manufactured home as real property varies by state and local jurisdictions. State-specific statutes outline the procedures for this classification, which may involve documents like a Certificate of Title or an affidavit of affixture. Converting a manufactured home to real property can be a game-changer for homeowners.  Real property status offers several advantages, including enhanced financing options and favorable tax treatment. A manufactured home classified as personal property is typically installed on a temporary foundation, allowing for mobility. In contrast, real property classification involves permanent attachment to land, similar to traditional site-built homes. The benefits of conversion extend to financing, taxation, and appreciation rates.   Real property status opens doors to more favorable loan options, such as Land/Ho...

I have many clients that come from out of town or even out of state, but they all know and are familiar with Seattle.  Even when I first came to visit Washington State, my first impression was Seattle as well! Port Angeles, Washington, and Seattle, Washington, are two distinct cities in the beautiful Pacific Northwest. While they share the same state, they offer different living experiences. Here's a comparison of the two in various aspects: Price Ranges for Living Expenses: Port Angeles: Generally more affordable than Seattle, Port Angeles offers a range of housing options, from budget-friendly to upscale homes. The cost of living, including housing, groceries, and utilities, is typically lower than in Seattle. Seattle: Seattle is known for its higher cost of living, especially in terms of housing. Housing prices can be steep, and the city consistently ranks among the most expensive places to live in the United States. Climate: Port Angeles: Port Angeles enjoys a maritime clima...