Posts Categorized: Real Estate Market Updates

What’s Going on with Real Estate?!

 

Hello friends and Happy New Year! Guess what? Interest rates went down a touch, and I just wanted to keep you posted about this exciting news because people have been waiting on the sidelines for the interest rates to drop. They were above 8% in October and over the last few months they have dropped into the mid-6% range. This has created a lot of movement in the real estate market. We are seeing our listings in Fairwood (and all over King County I might add) gain a lot more interest and sales are happening again! Rosie actually predicted this would happen a few months ago during her Winter Real Estate Market Update:

 

Here's something to consider. With falling interest rates, our prediction is that we're going to see a floodgate of stampeding buyers, coming out to play in this market. When this happens (spoiler alert, it already is happening, our first listing of the year sold in 3 days with multiple offers!!!), sales prices will go up, due to competing offer situations. Sellers will not be as inclined to negotiate terms as they are right now. We are confident that now is a  great time to get back into the market.

Buyers - Act before the market heats up even more. More buyers = more competition for you! If you are a buyer interested in winning your dream home please check out https://rosierourke.com/buying.

Sellers - It’s time to get your ducks in a row to be prepared to take advantage of the intensifying market. My team is ready and eager to help you price your home, manage your pre-inspection, help you get your home ready, and expertly market its flood of buyers entering the market right now. Our open houses are busy, private showings are up, and online traffic is through the roof on our listings. Learn more about our stress-free listing program and take advantage of the market at https://rosierourke.com/selling.

QUESTIONS? COMMENTS? A FREE HOME VALUATION?

 

Winter Market Update!

 

Winter ❄️ is here... and so is another market update from your hometown realtor, Rosie! She recaps the crazy year that was real estate in 2023 and gives you a glimpse to what 2024 has in store for you. SPOILER ALERT... it's good news! BUT, you have to be prepared and have your 🦆🦆🦆in a row to take advantage of the good news.

Watch the video, post your questions in the comments, and reach out to us so we can help you plan for real estate success in 2024!

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!