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Found 37 entries published by Rob Greer.

Mortgage lending took a nosedive across the U.S. in the first quarter of 2022, according to a new report from ATTOM. 

Secured mortgages fell 18% from the fourth quarter of 2021 and were down 32% from the same time last year — the biggest year-over-year drop since 2014. This marked the fourth quarterly decrease, which the data management company said was the result of “double-digit downturns in purchase and refinance activity, even as home-equity lending rose.”

Along with the 32% decline in residential mortgages, the report found the number of new loans fell for the fourth straight quarter, meanwhile refinance lending fell another 22% and purchase mortgages were down 18%. 

Mortgage rates have climbed to their highest level since 2008, pinching

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The housing market is entering the ‘most significant contraction in activity since 2006,’ says Freddie Mac economist.

Cracks are beginning to appear in the red-hot housing market. The pandemic's housing boom is finally running on fumes. Home sales are falling. Inventory levels are rising. And home sellers are cutting list prices at the fastest clip since 2019.

Spiraling mortgage rates on top of record-high and still-rising home prices are leading many experts to predict the real estate market is on the verge of a correction—if it isn’t already in one. They anticipate home prices will flatten, or even go down a bit, in certain markets.

This Shift is a lot bigger than a seasonal cooldown. The economic shock of higher mortgage rates means borrowers

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  •          Home sellers really need to re-think their expectations.
  •          The days of “multiple offers and waived inspections are behind us.”
  •          Active Listings up a whopping 59% from a year ago.
  •          Both pending sales (mutually accepted offers) and closed sales during May were down from a year ago.
  •          Rising interest rates coupled with inflation are causing buyers that rely on conventional mortgages to reconsider the affordability.

Home sellers really need to re-think their expectations,” suggested Mike Larson, a member of the board of directors at Northwest Multiple Listing Service (NWMLS) when commenting on statistics summarizing May activity. The new report showed a significant increase in active

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Have you been considering listing your home?  With inventory levels climbing and homes taking longer to sell, it's more critical than ever to have your home really shine when it hits the market.  

As part of the Ultimate Selling Experience with Greer Real Estate at The Cascade Team, Home Assist can be used for almost anything.

  • Paint touch-up
  • Carpet cleaning
  • Windows cleaning
  • Driveway pressure washing
  • Landscaping
  • ETC:
  • Big Jobs like
  • Kitchen remodel
  • New Roofs
  • Also

When you’re ready to list your home, I will work with the Home Assist coordinator team to secure any needed home renovations. Payment is deferred until home closing, or 180 days and escrow will deduct costs from net proceeds to pay for services rendered.

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1. What does the changing housing market mean for Sellers? 

This isn't 2008. Home prices haven't started falling. Looking at Western Washington: Area-wide prices for single family home sales (excluding condos) in King County also increased, climbing nearly 20% from a year ago, from $830,000 to $995,000.

And though the supply of newly built homes has increased, that's actually a small part of the overall market. Inventories of existing homes are still some of the lowest on record, as of April.

2. What do increasing interest rates mean for Buyers?

“We are starting to see signs of impact from the significant rise in mortgage rates earlier this year, such as an increase in active listings and months of inventory creeping higher, but the full

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Fueled by unprecedented gains in home values, Washington State’s red hot real estate market has led to “unprecedented” increases in home values that will drive up next year’s property tax bills, according to the King County assessor’s office.

The Sammamish Plateau topped the list with a 52% increase from the previous year. That’s double the still eye-popping 26% increase in Federal Way. Other Eastside cities also saw staggering price increases; areas such as Redmond (43% on average), Woodinville (44%) and Kirkland (44.5%).

While not as extreme as on the Eastside, in Seattle proper, values are up 19% in Rainier Beach and 20% in Magnolia, according to the assessor’s office, which released a sample of data Thursday but is still finalizing values in

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Development acitivity is going be very active in 2022 in the City of Snohomish - If you are looking for a new construction home there will be lots of choices as we move further into 2022 and 2023.  Below is a summary of what's on tap: 

  • Contara Court (Pacific Ridge Homes)- 26 detached single family houses west of Ludwig Road south of Tenth Street.  
  • Riverview North - 10 detached houses west of Ludwig Road immediately south of Contara Court.
  • Walsh Hills (D.R. Horton - see below for layout of new development) - 111 detached single family houses on Terrace Ave. Site work is underway with the possibility of house construction starting in the second half of 2022.  



  • 120 Willow Ave. - Three 2-story 2,000-square-foot detached
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  •          The Puget Sound housing market has shifted down several levels
  •          Not all homes are selling within the first week on market
  •          Multiple offers will not be as commonplace as they’ve been in the last two years
  •          The latest MLS report showed a mix of positive and negative numbers.
  •          New listings (11,681) surpassed the number of pending sales
  •          This is evidence that interest rates are having a cooling effect.

 KIRKLAND, Washington (May 5, 2022) –Rising interest rates and inflation, coupled with slight improvement in inventory, may bring some normalcy to Western Washington’s frenzied housing market suggest some brokers with Northwest Multiple Listing Service.

“The Puget Sound housing

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