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Community News & Events Accurate Update: Washington State & the Proposed NAR Settlement As I am sure you have heard on the news, there is a proposed settlement agreement for the NAR (National Association of Realtors) Class Action Lawsuit. It has certainly stirred up plenty of headlines that have been glossy, and in many cases, inaccurate. Many of the reports and headlines have been national and it is […]
Community News & Events New Year, New Laws! What This Means for Consumers Moving Forward. Effective January 1, 2024, the statute in Washington that governs real estate brokerage relationships (RCW 18.86) otherwise known as the “Agency Law” – was significantly revised. The revisions modernize the 25-year-old law, provide additional transparency and consumer protections, and acknowledge the importance of buyer representation. KEY REVISIONS For decades, real estate brokerage firms were only […]
Community News & Events December is for Giving at Windermere North! The holiday season can come and go in a flash, with the pressure and stress of gift shopping, family obligations, and wrapping up the year. One thing that I love about my office is that we all make it a priority to come together to lift up our neighbors in need during this time of […]
Community News & Events Now or Later: When Rates Drop, Expect the Market to Tilt The question that many potential buyers are asking themselves right now is: should I wait for rates to drop before I buy? Higher interest rates have certainly made monthly payments higher and challenged overall affordability, however it is important to consider creative financing options and what the impact on prices will be once rates lower. Experts […]
Community News & Events New Agency Law Changes: Transparency, Consumer Protection & Commitment On January 1, 2024, major changes to the Law of Agency will go into effect. These changes result from the real estate industry in the state of Washington wanting to elevate the level of transparency and consumer protection surrounding buyer representation. Senate Bill 5191 was voted into law requiring adjustments in how brokers operate when working with […]
Community News & Events Win-Win: How to Overcome Interest Rate Pressure with Creative Financing Lately we have talked about life changes leading to real estate moves. Sometimes moves are brought on by joyful advancements in life and sometimes they are motivated by hardship. Then there are times when your actual house just doesn’t fit your life anymore and it is time for something different. Whatever might be calling someone to make […]
Community News & Events Should You Stay or Should You Go? Interest Rates Limit Inventory and Stabilize Prices There has always been a direct correlation between interest rates and home prices. The rule of thumb has always been when rates go up prices go down, and vice versa. This was temporarily proven true in the summer of 2022 when rates quickly rose by 2% (3.5%-5.5%) over 5 months. It created a price correction in the […]
Community News & Events Clarity Through Chaos: Using the Data to Guide Decisions. I think we can all agree that we have been on a bit of a wild ride over the last 12 months in the real estate market. When the Fed decided to change its trajectory on interest rates in mid-2022, it created some chaos and confusion. When big changes happen, it is a natural reaction […]
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Community News & Events 2023 Market Predictions, Fact Checked. One of the reasons why we are fortunate to have Matthew Gardener as our Chief Economist at Windermere is his transparency. Every year, Matthew makes predictions for the coming year based on his monumental research and years of experience. Just this week, he reviewed his 2023 predictions and recorded the video below. Most of his […]
Community News & Events Let’s Dance! Prices Stabilize & Even Grow Amidst a Chaotic Interest Rate Market If we let the media determine the mood regarding the housing market, it would be time to shut the party down and call it a night. I’m here to report that we are still dancing and there is a lot to celebrate! While it is not all shiny and bright (it never is), there is a pattern […]
Community News & Events A Busy Legislative Session for Housing: 10 Bills Passed That Will Affect Housing in Our State On April 23rd the Washington State Legislature adjourned after passing 10 new bills that will affect housing. Some of the bills are geared toward creating more transparency around brokerage transactions, some are intended to institute more opportunities for building density to provide more affordable housing, and some are more regulatory to help guide and ease […]
Community News & Events Understanding the Difference Between Long-Term & Short-Term Interest Rates It is very important that consumers understand the difference between long-term interest rates and short-term interest rates. Long-term rates involve home mortgages such a conventional 30-year fixed, Jumbo, FHA, and VA loans. Short-term rates involve car loans, credit cards, and Home Equity Lines of Credit (HELOCs). While both types of rates have gone up over the course of […]
Community News & Events Housing Absorption Trends, Interest Rates Hovering, and Inventory Constricting. Three key elements to pay attention to when assessing prices and the real estate market. As we round out the first quarter of 2023, three real-time trends to pay close attention to in order to truly understand what is happening in the real estate market are absorption data, interest rates, and inventory levels. Right now, we […]
Community News & Events Which is better, renting or buying?: The financial benefits of owning real estate. The financial benefits of owning real estate significantly outweigh the option of renting. Renting is certainly a must for some, and is what one may have to do while they build up to becoming a homeowner. Becoming a homeowner requires solid employment, good credit, and some type of down payment. Savings can all be built over time and […]
Community News & Events  An Economic & Housing Forecast for 2023 by Economist Matthew Gardner Last week, my office had the pleasure of hosting Windermere’s Chief Economist, Matthew Gardner for his 2023 Economic and Housing Forecast. During this jam-packed hour of insightful delivery, he reported on the U.S. and local economies along with the U.S. and local housing markets specific to King and Snohomish Counties. If you are interested in receiving […]
Community News & Events December is for GIVING at Windermere North! Between holiday parties, family obligations, work, and the pressure of finding the perfect gift, this time of year can come and go in a flash. At Windermere North, we never want this season to go by without coming together to lift up our community and give back in meaningful ways.   Our office-wide annual holiday […]
Community News & Events Key Factors to Note as the Market Recalibrates in the New Year 2022 has been an eventful year in the real estate market and the economy. After 2 years of pandemic-fueled demand and historically low interest rates, we experienced a shift. The Fed quickly raised rates (by 2 points) from April to October to combat inflation, curbing buyer demand as affordability took a hit. The overall economy is starting […]
Community News & Events Matthew Gardner’s Top 10 Predictions for 2023   1 There Is No Housing Bubble Mortgage rates rose steeply in 2022 which, when coupled with the massive run-up in home prices, has some suggesting that we are recreating the housing bubble of 2007. But that could not be further from the truth.   Over the past couple of years, home prices got ahead […]
Community News & Events Returning to normal: buyer affordability dictates the market while sellers retain equity. There is no doubt that 2022 has been one of the most eventful years in real estate. This is saying a lot coming off the record-breaking years of the pandemic. We will probably never see anything like 2020 and 2021 again. During this time the market responded to a historical event that motivated the rearrangement […]
Community News & Events Understanding the Current Shift in the Real Estate Market: How Interest Rates Affect Prices As we continue to examine the shift in the market, we must take a moment to take a deep dive into interest rates. Since the first of the year, long-term interest rates have increased 2.7% from 3.11% on 12/30/21 to the peak of 5.81% on 6/23/22, but have started to level out. On 8/4/22 rates […]
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