1. Home prices expected to increase Mason Virant, associate director of the Washington Center for Real Estate Research at the University of Washington, expects home prices to increase 1% to 2% statewide and 1.5% to 3% in pricier areas like Seattle and Bellevue in 2024 compared with 2023. Matthew Gardner, former chief economist at Windermere, predicts that the price of single-family homes for sale in King County will rise about 3% in 2024. The median home price in King County so far this year is down about 2% from the same time frame last year.   2. Mortgage rates may drop slightly Economists at Fannie Mae, the National Association of Realtors, and Redfin say they expect mortgage rates to stay above 6% in 2024. Fannie Mae projects the rate on a 30-year fixed mortgage will average 6.7% in 2024 and 6.2% in 2025, as the Fed continues to try to fight inflation.     3. More homes for sale, but not many Many homeowners have a low interest rate because they bought in recent years or they refinanced. In that situation, they have little incentive to sell and buy a new home at a higher rate unless absolutely necessary. Without those homes for sale, buyers have less to choose from and that limited inventory keeps the prices from falling.   4. Apartment rents to increase With fewer new apartments hitting the market in the coming years, rents are likely to start climbing again. CoStar projects apartment rents in the Seattle area will increase about 4% next year. This is higher than the average of about 2.5% per year over the past two decades.   With all this being said, there are paths to homeownership. Don’t let the headlines scare you. Affordability is and will be an issue for the foreseeable future, and understanding the truths doesn’t make it easier for people to buy homes. But what we can say is that being an advocate for our buyers and sellers in an economy like this is hugely important.

The holiday season is often considered a time for cozy gatherings, festive decorations, and exchanging gifts. While it may not be the most conventional time to buy a home, there are several pros to purchasing a property during this period. In this blog, we will explore why buyers should consider taking advantage of the holiday season to find their dream home.One significant advantage of buying a home during the holidays is the reduced competition in the market. Traditionally, the real estate market tends to slow down during this time, as most people are preoccupied with family festivities and holiday planning. With fewer buyers actively searching for properties, you'll face less competition and have a better chance of finding your ideal home.Moreover, the reduced competition often leads to better deals. Motivated sellers are more likely to negotiate on prices or offer incentives during this period. Many homeowners who have their properties listed during the holidays are genuinely interested in selling, and they understand the need to be flexible to attract potential buyers. As a result, you might be able to secure a better deal, such as a lower purchase price or additional perks like seller-paid closing costs or home improvements.Additionally, since the holiday season is a slower time for real estate agents, you'll likely receive more personalized attention and better service. Real estate professionals have fewer clients to attend to during this period, allowing them to devote more time and energy to your home search. Your real estate agent can schedule more frequent showings, provide detailed information about the properties you're interested in, and guide you through the entire buying process more efficiently.While buying a home during the holidays may seem unconventional, it can be a smart and advantageous decision. The reduced competition, better deals, and increased attention from real estate agents are all compelling reasons to consider purchasing a property during this time. So don't let the holiday season deter you from your home-buying goals. Take advantage of the unique opportunities available and seize the chance to find your dream home at a great price.Remember, the key to a successful home search during the holidays is to stay focused and work with a knowledgeable real estate agent who understands the market. With their guidance, you can make the most of this time and find a home that meets your needs while enjoying the holiday season.

As the leaves change color and the temperatures begin to drop, it's a sure sign that winter is on its way. As a homeowner, it's important to start preparing your home for the colder months ahead. Whether you're planning to sell your property, looking to buy a new one, or simply want to ensure a comfortable lifestyle, here are some essential tips to consider. Winter can be a great time to buy a home, as there tends to be less competition in the market. However, it's crucial to take certain factors into account. Look for properties that have good insulation, energy-efficient windows, and a reliable heating system. Inspect the roof for any signs of damage, as snow and ice can exacerbate existing issues. Additionally, consider the location and accessibility of the property during the winter months to ensure it suits your needs. Preparing your home for winter can make a significant impact on potential buyers. Start by decluttering and deep cleaning your property, as it can make rooms appear more spacious and inviting. Check the insulation in your attic, walls, and windows to ensure energy efficiency, which can be an attractive selling point. Don't forget to maintain your heating system and have it serviced before any showings. Lastly, enhance your home's curb appeal by clearing walkways, adding winter-friendly plants, and ensuring outdoor lighting is in good working order. Winter is a time for cozy nights in, but it's crucial to keep your home comfortable and safe. Replace any weatherstripping around doors and windows to prevent drafts, helping you save on heating costs. Consider adding extra insulation to your attic or walls, which can further improve energy efficiency. Stock up on essential supplies like salt or ice melt for your driveway and walkways to prevent slips and falls. Finally, check your smoke detectors and carbon monoxide detectors, ensuring they are in proper working condition to keep your family safe. Remember, preparing your home for winter is a task that should not be overlooked. Whether you're a buyer, a seller, or simply looking to maintain a comfortable living environment, taking the necessary steps to winterize your property can make a world of difference. Stay ahead of the cold weather and make your home an inviting and safe haven during the winter months.

As we bid farewell to the summer months, it’s time to start preparing our homes for the colder seasons ahead. Whether you’re a seller or a buyer, ensuring that your home is weather-proofed is crucial to maintain its condition and keep everyone safe. Here are some tips to help you prepare your home for the fall and winter months. If you’re planning on selling your home during the colder months, make sure to weather-proof it to showcase its value to potential buyers. Start by sealing any gaps or cracks around doors and windows to prevent drafts. Proper insulation is also key to keeping the home warm and energy-efficient, so make sure to check your attic and walls for any gaps or leaks. For those who plan to stay indoors during the colder months, it’s important to make sure your home is comfortable and cozy. Invest in thick curtains or window coverings to keep the heat in and the cold out. Clean your fireplace and stock up on firewood to create a warm and inviting atmosphere. You can also add rugs and blankets to your décor for an added layer of comfort. If you’re in the market for a new home, make sure to inspect the property thoroughly before making an offer. Check for any signs of water damage or leaks, especially in the basement or attic. Inspect the insulation and make sure it’s up to code. Don’t be afraid to ask the seller if they have taken any measures to weather-proof the property. No matter if you’re a seller or a buyer, proper weatherproofing is essential for any home during the colder seasons. Check your gutters and downspouts for any debris or blockages, and make sure they’re draining properly. Trim any overhanging branches or trees to prevent damage from heavy snow or ice. Lastly, make sure your heating system is in good working condition, and your pipes are properly insulated to prevent freezing. In conclusion, preparing your home for the fall and winter months is crucial to maintain its value and keep everyone safe. By following these tips, you can enjoy a cozy and comfortable home throughout the colder seasons.

The summer real estate market is one of the busiest times of the year in the industry. As such, both buyers and sellers should expect a flurry of activity in the coming months.For buyers, competition for properties is likely to be high. With many people looking to move during the summer months, it's important to be prepared with a solid financial plan, pre-approval letter, and a clear idea of your priorities and budget.Sellers, on the other hand, can expect plenty of interest in their properties. However, it's important to price homes competitively and stage them effectively to attract the right buyers. With more homes on the market during the summer months, it's crucial to make a strong first impression.In terms of real estate news, experts predict that the market will continue to favor sellers in many areas. Low inventory and high demand have led to bidding wars and quick sales in many regions. However, rising interest rates could lead to a slowdown in the market later in the year.Overall, the summer real estate market is a time of opportunity for both buyers and sellers. With the right approach, it's possible to find your dream home or make a successful sale. Keep an eye on real estate news and be prepared for a competitive market, and you'll be well-positioned for success.