Right now, the housing market is full of outstanding opportunities for both buyers and sellers. Whether you're thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the county. Here are the top two to keep on your radar this season.
The Biggest Perks for Buyers: Low Mortgage Rates
Today's most compelling buyer incentive is low mortgage interest rates. The 30-year-fixed rate is now averaging just over 3%. While that's slightly higher than the record lows from 2020 and earlier this year, it's still way lower than historic norms, making purchasing a home an ongoing perk for hopeful buyers (see graph below).
This is a…
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According to data from the most recent Origination Insight Report by Ellie May, the average FICO score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. While stricter lending standards could be a challenge for some, many buyers may be surprised by the options that are still available for borrowers with lower credit scores.
The fact that the average American has seen their credit score go up in recent years is a great sign of financial health. As someone's score rises, they're building toward a stronger financial future. As more Americans with strong credit enter the housing market, we see a natural increase in…
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Last year started off with a bang. Unemployment was under 4%, forecasters were giddy with their projections for the economy, and the residential market had the strongest January and February activity in over a decade.
Then came the announcement on March 11, 2020, from the World Health Organization, declaring COVID-19 a global pandemic. Two days later, the White House declared it a national emergency. Businesses and schools were forced to close, shelter-in-place mandates were enacted, and the economy came to a screeching halt. As a result, unemployment in the U.S. has skyrocketed to 14.9%.
A year later, the economy is recovering and the U.S. has regained more than half the jobs that were originally lost. However, some businesses are still closed,…
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BELLINGHAM, WA, MARCH 23, 2021 - RE/MAX Whatcom County is pleased to welcome Christine Rasmussen to the Whatcom County office. She will be joining the Weitzel & Associates team and will focus on Residential real estate.
Originally form Canada, Christine has resided on and off in Whatcom County since 1997 and spent over 10 years as a business owner in the predominantly male industry of residential and commercial septic installations. She is looking forward to stepping into another company whose cultural focus of serving the community aligns with the very principals that made her own company successful through the challenges of the 2008 recession.
Prior to owning her own business, Christine primarily worked in management positions and technical…
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Bellingham, WA, March 22, 2021 - RE/MAX Whatcom County is pleased to welcome Jodie Mathis to the Lakeway Office. She will be focusing on Residential and Luxury Homes.
Jodie has resided in Whatcom County for the past 42 years and is originally from Skagit County.
With over 30 years of owning a construction company, wallpapering, and painting homes, Jodie is familiar with preparing and selling real estate. She has experience staging homes, has her finger on the pulse of the latest design trends, and knows what draws the prospective buyer's eye. Jodie goes above and beyond to deliver results to buyers and sellers. She is proud to approach each client's home with care as if it were her own.
Jodie spends her spare time with her two kids and dog.…
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When thinking about selling, homeowners often feel they need to get their house ready with some remodeling to make it more appealing to buyers. However, with so many buyers competing for available homes right now, renovations may not be as vital as they would be in a more normal market. Here are two things to keep in mind if you're thinking of selling this season.
1. There aren't enough homes for sale right now.
A normal market has a 6-month supply of houses for sale, but today's housing inventory sits well below that benchmark. According to the National Association of Realtors, there's only a 1.9-month supply of homes today. As a result, buyer competition is high and homes are only on the market for about 21 days, during which time many receive…
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Your Comprehensive Guide for Home Sellers
Access expert real estate insights on:
-Why you shouldn't wait to sell your house
-The current housing market
-How low inventory is a win for sellers
-What 2021 has in store for home sellers
-Leveraging your equity to make a move
-Why people are moving this season
-Should I renovate my house before selling?
-If I sell now, where will I go?
-Why it pays to sell with a real estate agent
-Selling your house with today's technology
-Why pricing your house right matters
-Reasons to hire a real estate professional
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If the process of moving doesn't stress you out at least a little bit, there's a chance you're superhuman (or just working with one of our fantastic real estate professionals). Either way, we've put together a free moving checklist to help you get prepared and plan your move.
Plan your move with our Moving Checklist today
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