Posts Categorized: Real Estate Market Updates

Mortgage Rates in 2024

will mortgage rates drop in 2024

Homebuyers can expect mortgage rates in the 6% range next year, says NAR’s Lawrence Yun

Today we saw Lawrence Yun, National Association of Realtors chief economist, join ‘Squawk Box’ on CNBC to discuss the state of the housing market, why he believes it’s a strange market of record-high home prices, deep-slumping home sales, and more. It's a great video and he talks about his predictions for interest rates in 2024! Here is the video:

We are already beginning to see rates drop. Mortgage demand jumped to six-week high as interest rates continue to drop according to the Mortgage Bankers Association What does this mean for you?

For Sellers: Buyer demand will be picking up as mortgage rates drop. More buyers means more opportunity to sell your home! If you are thinking of selling in 2024 NOW is the time to start planning with us - LEARN MORE HERE

For Buyers: With rates dropping, there will be more competition for you to deal with. We will see the return of multiple offers and over asking price offers. BUY NOW before the flood gates open, save money on the purchase price, than refinance your loan in the Spring when rates hopefully hit 6%! CLICK HERE TO LEARN MORE

Fall Market Update

is fall a good time to sell my home?

 

Fall Market Update & Report Download! 

Fall is an excellent time to sell your home in western Washington for several compelling reasons:

Beautiful Scenery: Fairwood boasts stunning mature fall foliage, making properties look more appealing with colorful leaves and pleasant weather. This natural backdrop can enhance your home's curb appeal.

Comfortable Weather: The moderate fall temperatures in Fairwood create a comfortable environment for potential buyers to explore homes without the discomfort of extreme heat or cold, making it an inviting time to showcase your property.

Reduced Competition: While spring is a popular season for home sales, fall typically sees a decrease in the number of homes listed, reducing competition for sellers. This can lead to a quicker sale and potentially better offers.

Serious Buyers: Buyers looking in the fall often have a strong motivation to move before the holiday season or the end of the year. This sense of urgency can result in more serious and committed buyers.

Favorable Lighting: The soft, natural lighting in the fall can highlight your home's best features, creating an inviting and warm atmosphere during showings and photography sessions.

The combination of picturesque scenery, comfortable weather, reduced competition, motivated buyers, and favorable lighting makes fall an advantageous time to list your home in Renton, Fairwood, Maple Valley, Kent, Auburn, Federal Way, Puyallup and more, which will potentially lead to a successful and efficient sale.

To get started with our stress-free listing program download our FREE Fall Market Report below! 

NOW IS THE TIME!!!

IS NOW A GOOD TIME TO BUY A HOUSE OR SELL A HOUSE

 

The Spring real estate market is in full swing! If you're a seller, now is the time to take advantage of record low inventory (homes for sale) and get your house on the market. Homes that priced right, presented well, and marketed correctly are selling! Learn more at www.rosierourke.com/sellerswanted

If you are a buyer, take advantage of seller concessions and stable prices. If you are worried about interest rates we have solutions, learn more here: www.rosierourke.com/worldtochange

4 Real Estate Trends

Fall Market Update

What is happening in the Real Estate Market?

Fall is here and so is another real estate market shift! Check out the video above, it's a round table discussion with our listing and buyers agents about what is going on RIGHT NOW in the market! It's a great time to sell, home prices are still up 8% from last year despite the Summer correction. It's also a great time to buy! Yes, interest rates are higher than they have been in about a decade, but they are still historically low. Date the rate, marry the house, you'll be able to refi in a few years! There are also loan products like a 2-1 buy down where you have a lower interest rate! Contact us to learn more about selling and buying this Fall! 

Summer Market Update 2022

real estate news

Summer Real Estate Market Update with Rosie & Melissa!

 

⛱😎 Happy Summer everyone!!!

Is the bubble bursting? Is the market slowing down? Are rising interest rates changing the market? What about inflation? And so on... We get these questions on a daily basis! Learn what is going on in the local real estate market from the top producing team in SE King County. We have the volume (210 families helped last year) and 125 years of collective experience. Everyone's situation, wants and needs are different, reach out via text/call at 206.719.5870 or just fill out the form below! 

What is Buyer Fatigue?

real estate buyer fatigue

 

What is Buyer’s Fatigue?

Due to the recent sellers’ market surge we experienced with its high buyer demand, low home inventory and multiple competitive offer situations, many buyers (and their agents) are experiencing “buyer fatigue”. This condition has buyers exhausted by their consistent losses and they choose to step out of the market. There is no official way to gauge the level of fatigue out there, but there are signs that help us predict when a correction in the housing market will occur. We list more homes than any other team in SE King County, so we see trends coming before most other agents because of the volume of homes we sell. For months we have sensed a shift in the market and our agents have been preparing for it. We are seeing less offers on homes, less traffic online, less showings, and even getting skunked at open houses with no one showing up. Buyers just get tired of waving everything, going way over asking, and then losing. BUT, there is good news in all of this…

Having a seasoned, full time and caring buyer’s agent can make all the difference! Believe it or not, agents get buyer fatigue as well. Our listing managers call every agent who shows our listings for feedback. More and more non Rosie Rourke Team buyers agents tell us, “I told my clients the home is going to go so far over asking that it’s not worth my time to write an offer.” Imagine that, a home you LOVED just sitting there with no offers ready to be yours! You need an agent like Lisa, Lexie and Lilia (the Triple L Threat) that have the knowledge, the skills and the drive to make it through the tough times with their buyers. Even during the ultra-competitive markets of the past few years, combined they have helped hundreds of buyers achieve their dreams! They also know when to make the most of an opportunity, and RIGHT NOW there is a HUGE opportunity!!!

NOW IS THE TIME while the sellers’ market cools off and takes a breath! Learn more about our buyers’ agents and what they can do to help you here: www.rosierourke.com/buyers

PS. Sellers, NO, you didn’t miss the market! The price increases of the past 2 years has you in a great position! People always need to buy and we have the targeted marketing, the experience and the skills to sell your home anytime, anywhere! Learn more about our listing agents and our stress-free listing experience here: www.rosierourke.com/selling

Concierge Corner – New Video!

 
Check out this transformation! We don't just put a sign in the ground, we lean in and take over the entire process from start to finish! Between listing agent Karen, our home seller's concierge Jo, our trusted vendors and the entire Rosie Rourke Team behind the scenes, we did all the heavy lifting and created a stress-free listing experience for this client!
 
We were just named the top team for Keller Williams Mountains to Sound in 2021 and helped over 210 families turn their real estate dreams into reality... what can we do for you in 2022? It all starts with a conversation, learn more at www.rosierourke.com/homevalue
 
You can also call/text our listing team directly at 206.719.5870 or fill out the form below! 

SELL NOW

best time to sell a house

SELLER ALERT!!! 

First PENDING home of the year… and it flew off the market during the first weekend! 50 + showings and multiple offers WELL OVER ASKING! Rosie predicted this back in December with her Winter Market Update [watch below]

 

She predicted that interest rates would rise in 2022 and buyers will try to get into a home before their buying power is lessened with higher rates. This combined with record low inventory (homes available to buy in the market) would create the perfect winter storm for home sellers. Winter is the NEW Spring market this year! Rosie doesn’t have a crystal ball, but she does have over 25 years of experience in our local real estate market + a team that does a high volume of business, they can see trends coming before other agents because of this.

Well, the secret is out and we are telling all of our sellers sitting on the fence to get their homes on the market ASAP. Luckily we have our home concierge program that is helping sellers get their home SHOW READY and on the market in a matter of weeks, not months! This is what leading real estate experts are saying about our local market right now!

sell my house in 2022

According to Tim Ellis of the real estate blog Seattle Bubble, “January is shaping up to be the most competitive month in housing history.”

“The stage is now set for the most competitive January housing market in recorded history,” said Redfin Chief Economist Daryl Fairweather as well. “Buyers are pouring into the market to claim a home before mortgage rates rise further as new listings slow to a trickle [during the winter months].”

Bottom-line for Sellers: With less homes on the market, your home will stand out with virtually ZERO competition when you list. This will not be the case the closer we get to spring. Also, with interest rates as low as they are still, there are more buyers with more buying power who are desperate to get something under contract before the rates go up! If you are able to list before spring, I would do it now! Take advantage of our Home Concierge Program, it’s FREE and our team literally does everything for you to get your home ready faster! Request a free home valuation and let’s have a conversation! Call or text 206.719.5870 or fill out the form below!

Bottom-line for Buyers: BUY NOW before rates go up! You will be in competition with other buyers, you need a buyer’s agent who knows how to write a winning bid! Spoiler alert, it’s not always about who throws down the most money! Every seller has a specific goal in mind, our agents learn about the sellers and craft offers that are attractive to them. Learn more about our expert buyer’s agents and our process for winning homes for our clients, Call or text 206.719.5870 or fill out the form below!

Contact The Rosie Rourke Team!

Winter Market Update

winter market update real estate

Winter is here... how is the real estate market doing?

 
Want to know the latest in real estate news? Check out Rosie's Winter market update! You'll learn why right now is actually an amazing time to sell and why waiting until Spring may not be the best option in 2022!
 
We also posted the report Rosie is referencing in the comments, check it out, you'll be blown away by the lack of inventory!
 
If you are thinking of selling please contact us ASAP, we would love to connect and share with you why listing with Rosie Rourke Team guarantees a stress free experience!
best time to sell a home
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