Thursday, April 19, 2018 / by Gabby Bauer
There are many benefits to homeownership. One of the top ones is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage.Don’t Become Trapped
Jonathan Smoke, Chief Economist at realtor.com, reported on what he calls a “Rental Affordability Crisis.” He warns that,
“Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they’ll outpace home price appreciation in the year ahead.”
In the Joint Center for Housing Studies at Harvard University’s 2015 Report on Rental Housing, they reported that 49% of rental households are cost-burdened, meaning they spend more than 30% of their income on housing. These households struggle to save for a rainy day and pay other bills, such as food and healthcare.
It’s Cheaper to Buy Than RentIn Smoke’s article, he went on to say,
“Housing is central to the health and ...
Wednesday, April 18, 2018 / by Gabby Bauer
After a wonderful day out shopping with friends, you’re looking forward to enjoying a quiet evening at home. As you unload your packages and head for the house, you notice that your front door is slightly ajar. Cautiously, you approach the door and find that your private sanctuary was invaded by a burglar. As you dial 911 and head to your neighbor’s house, you wonder what you could have done to protect yourself from such a crime.
Knowing that a stranger has been looking through your cabinets, checking your closets, and walking through your house strips away layers of confidence. The sanctuary you once loved can easily become a space filled with shadows and uneasy moments. Before you find yourself in this position, check out these security tips to protect your home.
Tip 1 – Trim Trees & Shrubs
While the beautiful trees and shrubs add appeal to your landscaping, they can create a nice hiding place for those with bad intentions. Keep these trimmed and away fro ...
Tuesday, April 17, 2018 / by Gabby Bauer
Before you set out on the search for your dream home, it’s important to know exactly how much money you’re going to need. You may be looking at house listings online and see several you like within the $600,000 price range. That’s is right within your budget, right? Maybe. Don’t forget to factor in some of the surprise costs associated with buying a home.
Cost 1 – Taxes
Taxes are going to be an annual expense once you purchase the house. No surprise there at all. In fact, you may have a good idea of just how much you can expect to pay depending on the area and home value. Did you know that you will be required to pay those up front on closing day? Depending on the terms of your mortgage and escrow account, you could pay a couple months’ worth of taxes or a complete year. Check with your lender to get a more definite idea of what you can expect.
Cost 2 – Inspections
To make sure the property has no hidden surprises for you in the w ...
Monday, April 16, 2018 / by Gabby Bauer
King County Home Sales Report shows record sales. In March, King County Closed Sales saw a decrease of 8.15%. The median house sales price in King County was up 45.62% over last year to $625,000. In March the Eastside closed sales were up 1.68% and the median home price grew by 12.83%.
Inventory Continues to Decline
According to our King County Home Sales Report pending sales across King County also showed a decrease of -1.00%. In March, the number of total active listings went down -1.90% from March of 2017. The Eastside saw pending sales were up 4.8% but inventory declined 5.03% with less than an month of available inventory.
For additional details, see the March raw numbers from the Northwest Multiple Listing Service: NWMLS-March-2018
Market Action Index
For our King County home sales report market activity has ...
Thursday, April 12, 2018 / by Gabby Bauer
It does no good to find your dream house if it’s located in a neighborhood you dislike. Gathering neighborhood information should be at the top of your to-so list when you begin the home buying process. Once you move in to the house, you will have to deal with whatever community issues arise. It’s better to do your research ahead of time to steer clear of potential hassles in the years to come.
Choosing Neighborhood Type
Before you begin, you will want to have a firm grasp on the type of neighborhood that suits your lifestyle. Do you want to live in the middle of all the action? If so, you are searching for an urban area, perhaps a downtown setting. Would you rather have plenty of open space? Your search may begin in a more rural area. Is it important that you have neighbors for social activities? A good choice for your search may be a suburb.
Depending on your lifestyle, there may be several factors that take priority when searching for the ri ...