2022 was a year of big changes for me.  I decided early in the year that my real estate career was providing me joy, fulfillment and opportunity that my “day job” was not. I decided to resign from corporate America after almost 20 years of working in healthcare administration.  SCARY!  I had been selling real estate part time since 2019 and this move put me in self employment status as a Real Estate Broker full time.

This year has been fun, exciting, exhausting, uncomfortable, encouraging, stretching, and so many more feelings that I hadn’t felt in many years of doing the same job, and I’m here to say, I’m so thankful.

I’m thankful for the learning, as the market constantly changes and with each new transaction, I learn more.  I’m thankful for the relationships, as I’ve reconnected with several people from my past who I enjoy so much.  I’m thankful for the flexibility, as I’ve been able to spend time volunteering with organizations I believe in (Habitat for Humanity and Clothes for Kids).  I’m thankful for the struggle, as I’ve learned to depend on myself and really learn who I am.  I’ve realized that to have failure and success at anything means you’re doing something and living a vibrant life, and that is just plain exciting.

One of the things I’ve enjoyed the most this year, is connection. I realized that just living in a little bubble is nowhere near the life as connecting with people in person.  I don’t only want to connect with clients, I want to connect with old co-workers, friends, sports moms, etc.   I love hearing about your lives and getting updated on the people I’ve come across in all my years.  I also love meeting new people, something I didn’t used to value in my busy world.  People are the best part of this new path I’ve chosen for sure, and seeing them in their new homes, is the cherry on top for me.

THANK YOU! To every single one of my clients, friends, and family members for your support and trust in me, I don’t take any of it for granted.  Whether you have a house to buy or sell or not, I’d love to connect for coffee, dinner, a walk, you name it.  Just reach out, let’s get together.

Yes, interest rates are 7.5%.  Yes, they were 2.5% eight months ago.  You know what else was happening eight months ago?  Houses were going for hundreds of thousands of dollars higher than they were worth.  Buyers were having to waive inspections and hope the house they bought wasn’t going to cost them significantly more than they already paid.  Buyers were also getting their hopes up only to learn their life savings wasn’t enough to purchase anything that would fit their families’ needs.  But because the interest rates were so low, no one seemed to care.  Now that interest rates are higher (and might I add, they’re very average over the history of interest rates), people are scared to waste their money.  WRONG….

Here is why you should buy a home now:

• Prices are significantly lower than the frenzied market we saw earlier this year. Surprisingly, monthly payments come out right about the same when you raise the interest rates and lower the purchase price.
• There are tons of programs right now to bring down interest rates, and a good agent is aware of those and can even negotiate with the sellers to fund some of those costs for you.
• The market is leaning towards buyers more than in recent months. I have two pending transactions for buyers in November.  One, we negotiated $10,000 lower than asking and did an inspection.  The other, we negotiated almost $20,000 in seller paid closing costs when the seller had just reduced their price $100,000 two days before!

As we all know, interest rates don’t stay high or low forever.  If you find the perfect home now, you always have the chance to refinance when interest rates are lower.  You have the opportunity now to really choose the home that’s best for you.

Call me, let’s find your deal!

Did I Miss My Chance to Sell My Home and Make Money?  

Short answer? No! Sure, the local real estate market is moody, but surprisingly, there is still a housing shortage.  In Snohomish County, if no new listings came to market, every house currently listed would sell in less than a month meaning, we’d literally run out of inventory.

In a culture focused on instant gratification, it is easy to take a quick look at home prices and think, “We should sell!” because you want in on the action.  However, many of us have grown a somewhat skewed perception of the home selling process in general and how to determine when the best time to sell really is.

Here are some things to consider:

• What is your why? Does it make sense for you to sell now?  Maybe you found a new home you love that fits your changing needs, you have a new job that is too far to commute, you want to move into that award winning school district, etc. The list goes on.
• Everything is relative. If you sell for a little less now, chances are you’re also going to buy for a little less. If you had sold when home prices were at their peak, you would have also likely had to buy your new home at a peak price.
• Is your home ready? If your home was not in a ready to sell state when prices were at an all-time, unsustainable high, then the answer is no.  You did not miss out.  The best time to sell is when your home is ready to be listed!

Rising interest rates continue to impact buyers.  The current rates are forcing buyers to take their time to make sure they are spending their money on exactly what they want. Yet simultaneously, inventory is still moving.  The current average days on market in Snohomish County is 14 days. Free enterprise is a beautiful thing, it’s a pendulum that’s always swinging and we’re swinging toward a more reasonable, balanced market right now.

Consider your overall profit from the day you purchased your home; I’m guessing it’s an impressive gain. Since we can’t go back in time, I suggest we look forward and focus on what is currently happening.  If you’re ready to sell your home, now is still a great time to do it.  If you want to know what your home is currently worth, I am just a call away!

In the months of July and August, the Seattle area real estate market has seen a near screeching halt in buyer activity.  Buyers are tired of the extremely competitive market they’ve been fighting during the pandemic, interest rates have risen, and everyone wants to be out in the sunshine that finally decided to show up in the PNW.   The market is very unpredictable, no wonder you’re confused.  Even trained realtors who are living and breathing the market every day are unsure of what will happen with each listing.  But it’s not all bad….

If the pandemic taught me anything, it’s that I should continue to live MY life even if that looks a little different than I expected.  I encourage you to do the same.  Here are a few ideas to help settle your nerves and push away all the home buying opinions to consider what is best for YOU!

• Inflation over time is going to happen. Purchasing a home now is a hedge against that. Rents will continue to go up, locking into a mortgage will keep your payment the same.
• Even if home appreciation slows down, homes always appreciate over time. Real estate has historically been the most stable investment you can make, and it still holds true.
• Interest rates really aren’t that high. Yep, I said it, never have we seen interest rates as low as we did through the pandemic, but now were just getting back to normal. Ask your parents or grandparents and you’ll hear they purchased homes at 10-15% interest, and those homes are probably paid off now.

We are in a home buying sweet spot right now.  Less buyers to compete against means you might not have to waive all your contingencies (inspections, etc.) and can purchase the same home for less today than even a few months ago.  (this, my friends, makes up for the interest rate increase by the way) It won’t stay that way for long, the pendulum is always swinging.

Purchasing my townhouse when I was fresh out of divorce, changed my financial future.  Was it scary, heck yeah, but now that same townhouse (with a $1300/month mortgage, imagine that) is an investment property for me and earning me income every month!  If you have any questions about what you may qualify for, or the market in a specific neighborhood you’re interested in, or simply how the whole thing even works, just reach out.