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    Want To Sell Your House? Price It Right.

    By Admin | January 24, 2023

    Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your house soon, that means you’ll want to adjust your expectations accordingly. As explains: “. . . some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.” Read More

    Have Home Values Hit Bottom?

    By David Johnson | January 20, 2023

    The chart provides a look at the most recent reports from Case-Shiller, the Federal Housing Finance Agency (FHFA), Black Knight, and CoreLogic. It shows how, on a national scale, home values have changed month-over-month since January 2022. November and December numbers have yet to come out. While that doesn’t guarantee home price depreciation has hit bottom, it confirms prices aren’t in a free fall, and it may be an early signal that the worst is already behind us. Read More

    Today’s Housing Market Is Nothing Like 15 Years Ago

    By Admin | January 12, 2023

    There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences. In the latest Real Estate Forecast Summit, Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), drew the comparisons below between today’s housing market and the previous cycle (See below) Read More

    Avoid the Rental Trap in 2023

    By Admin | January 5, 2023

    If you’re a renter, you likely face an important decision every year: renew your current lease, start a new one, or buy a home. This year is no different. But before you dive too deeply into your options, it helps to understand the true costs of renting moving forward. So, if you’re considering renting as an option in 2023, it’s worth weighing whether this trend is likely to continue. The 2023 Housing Forecast from expects rents will keep climbing (see graph below): Read More

    Best Wishes for a Merry Christmas and Happy New Year from Dave and Travis! Many thanks to you all!

    By Admin | December 26, 2022

    Wow, 2022 is sure exiting with some nasty, nasty weather here in Alaska and now throughout the lower 48! Wish I was in Hawaii!! As I write this the wind is howling, snow is drifting and its just too darn COLD. Hopefully you all can snuggle up with loved ones and ride it out. I sure feel for those trying to travel! I'm gladly staying HOME for now! Take care everyone! Below is my last residential real estate market update for the year. Read More

    What To Expect From the Housing Market in 2023

    By Admin | December 22, 2022

    Moving forward, experts agree it’s still going to be all about inflation. If inflation is high, mortgage rates will be as well. But if inflation continues to fall, mortgage rates will likely respond. While there may be early signs inflation is easing as we round out this year, we’re not out of the woods just yet. Inflation is still something to watch in 2023. Right now, experts are factoring all of this into their mortgage rate forecasts for next year. And if we average those forecasts together, experts say we can expect rates to stabilize a bit more in 2023. Whether that’s between 5.5% and 6.5%, it’s hard for experts to say exactly where they’ll land. But based on the average of their projections, a more predictable rate is likely ahead Read More

    Your House Could Be the #1 Item on a Homebuyer’s Wish List During the Holidays

    By Admin | December 8, 2022

    Each year, homeowners planning to make a move are faced with a decision: sell their house during the holidays or wait. And others who have already listed their homes may think about removing their listings and waiting until the new year to go back on the market. The truth is many buyers want to purchase a home for the holidays, and your house might be just what they’re looking for. Here are five great reasons you shouldn’t wait to sell your house... Read More

    November Real Estate Market Update with Dave and Travis!

    By David Johnson | November 28, 2022

    First, my friend Marty Van Diest with Valley Market Real Estate shares my fondness for putting together the market trends to help predict where things are going. He took a look at the month of October sales for the last 5 years which I think illustrates well where we site right now. His numbers are for the entire Mat-Su Valley residential real estate FYI. There has been a big drop in the number of sales (this is true nationwide as well). 171 closed sales in October of this year versus 183 back in "normal" 2019 tells some of the story. Notice though that the average sales price is up considerably (roughly 35%) since 2019 highlighting the incredible gain in equity we have seen in the last couple years! Most people will say that the higher interest rates are the main cause in the drop in sales. Sure it is part of the reason but the big driver I think is lack of supply (again a nationwide issue). More about that below when we look at supply and demand. Travis & I have about 5 buyers ready to buy if we could just find them the right property, generally in the $300-400,000 price range. Nice homes listing in that range are still selling quickly and for top dollar. And mortgage interest rates dropped nicely of late which is helpful. Read More

    Top Questions About Selling Your Home This Winter

    By Admin | November 17, 2022

    Even though the supply of homes for sale has increased in 2022, inventory is still low overall. That means it’s still a sellers’ market. The graph below helps put the inventory growth into perspective. Using data from the National Association of Realtors (NAR), it shows just how far off we are from flipping to a buyers’ market: While buyers have regained some negotiation power as inventory has grown, you haven’t missed your window to sell. Your house could still stand out since inventory is low, especially if you list now while other sellers hold off until after the holiday rush and the start of the new year. Read More

    What’s Ahead for Mortgage Rates and Home Prices?

    By Admin | November 9, 2022

    There’s no doubt mortgage rates have skyrocketed this year as the market responded to high inflation. The increases we’ve seen were fast and dramatic, and the average 30-year fixed mortgage rate even surpassed 7% at the end of last month. In fact, it’s the first time they’ve risen this high in over 20 years Read More