Selling • April 3, 2025

The #1 Thing Sellers Need To Know About Their Asking Price

by Charles Dizon

The #1 Thing Sellers Need To Know About Their Asking Price

When you decide to sell your home, your goal is simple: get it sold quickly and for the best price possible. Totally fair, right? But here’s the thing—too many sellers today are aiming way too high, without realizing the market has shifted. Inventory has grown, and we’re not in the same wild seller’s market we saw a couple of years ago.

The result? More price cuts. And not the fun “clearance sale” kind.

According to Realtor.com, February saw the highest number of price cuts for that month since 2019.
That’s right—more than any other February in the last six years.

If you consider that 2019 was the last true normal year for the housing market – that’s a big deal. We’re getting back to what’s typical for the market.

Why does that matter? Because 2019 was the last “normal” market before all the pandemic-fueled chaos. We’re now getting back to that more balanced environment, and that means it’s time for a mindset shift—especially when it comes to pricing.

Expectations vs. Reality

You might not get the same number your neighbor got during the height of the frenzy. And if you overshoot and then have to lower your price later, you could end up walking away with less than if you had just priced it right from the beginning. Ouch.

So how do you get it right? Simple: lean on your agent (hi 👋🏼).

How I Help You Price It Right

I don’t just throw a number out there and hope it sticks. I use real-time data, local trends, and my own nerdy obsession with market stats to land on a number that makes sense for your home.

Here’s how we make that magic happen:

Recent sales: We look at what homes like yours have actually sold for—not what they were listed at, but the final closing number.
Local market trends: It’s not just about what you want for your home, it’s about what buyers are willing to pay in today’s market.
Strategy: Depending on demand, we might even price just below market value to create urgency and attract multiple offers.

Why Starting Too High Can Hurt You

Now, I get it. Some sellers want to “test the waters” with a higher number. Maybe you’re hoping a buyer will fall in love and pay full price or more. But here’s the truth: that strategy often backfires. Big time.

Buyers might not even look at it. If it seems overpriced, it’s skipped. Boom—off the list.
It could sit too long. A stale listing makes people wonder, “What’s wrong with it?”
You may end up with less. Homes with price cuts often sell for less than they would’ve if priced right from day one.

The National Association of Realtors even has data that backs this up. Homes that sell within the first four weeks usually go for full price. The ones that linger? They tend to sell for less. It’s like the housing version of “you snooze, you lose.”

Bottom Line

You don’t want to chase the market by listing too high and then playing catch-up. You want to get it right the first time.

So, let’s talk strategy. If you’re thinking of selling, I’m here to help you figure out a pricing game plan that brings in serious buyers, not just tire-kickers. No gimmicks, no fluff—just honest advice with a little dad-joke flair if you need it.

Want your home to sell fast and for a great price?
Let’s connect.

Buying • November 11, 2024

The Majority of Veterans Are Unaware of a Key VA Loan Benefit

by Charles Dizon

Number of Veterans that know they can buy a home with 0 down payment

The Majority of Veterans Are Unaware of a Key VA Loan Benefit

For nearly 80 years, Veterans Affairs (VA) home loans have been helping Veterans achieve the American Dream of homeownership. But here’s the surprising part—according to Veterans United, only 3 out of 10 Veterans realize they could buy a home without needing a down payment.

That’s why it’s essential for Veterans—and those who care about them—to know about this valuable program. Understanding the resources available can make homeownership feel a lot closer. This can prevent big life plans from being put on hold. Veterans United puts it like this:

“The ability to buy with 0% down is the signature advantage of this nearly 80-year-old benefit program. Eligible Veterans can buy as much house as they can afford, all without the need to spend years saving for a down payment.”

The Benefits of VA Home Loans

VA loans are designed to make homeownership a reality for those who have served our country, offering significant benefits, including:

No Down Payment Needed: One of the biggest perks is that many Veterans can buy a home with no down payment. That’s a game-changer, making it easier to jump into homeownership.
Lower Closing Costs: VA loans cap the types of closing costs Veterans need to pay, meaning more money stays in your pocket when you’re ready to close.
No Private Mortgage Insurance (PMI): Unlike many other loan types, VA loans don’t require PMI, even with a low down payment. This translates to lower monthly payments, leading to big savings over the life of the loan.

Your best resource to understand all these options is your team of real estate professionals. This includes a local agent and a trusted lender, who can guide you through the unique advantages available to help you reach your homeownership goals.

Bottom Line:

Owning a home is a core part of the American Dream, and VA home loans are a powerful benefit for those who’ve served. Let’s connect to make sure you have the information and support you need to make confident moves in the housing market.

Buying • November 4, 2024

Is a Fixer-Upper Right for You?

by Charles Dizon

Is a Fixer-Upper Right for You?

Feeling like homeownership is just out of reach? If everything on the market seems a bit too pricey, there’s another way to get your foot in the door—and it might just be with a fixer-upper. Let’s break down why buying a home that needs a little TLC could be your path to ownership and how to make it work for you.

So, What Exactly Is a Fixer-Upper?

A fixer-upper is a home that’s liveable but needs some level of work. The amount of work varies; some might need simple cosmetic updates, like removing wallpaper or updating floors, while others may require more intensive repairs, such as roof replacements or plumbing updates.

These properties often come with a more affordable price tag—generally around 29% less than move-in-ready homes, according to a survey from StorageCafe. That’s part of the reason why more buyers are considering homes that need a little extra love these days.

If you’re willing to put in some sweat equity, a fixer-upper can be a budget-friendly entry into homeownership and give you a chance to make the home truly yours.

Tips for Tackling a Fixer-Upper Purchase

If you’re thinking of buying a home that might need some sprucing up, here are a few things to keep in mind:

Choose a Great Location: You can upgrade a house, but you can’t pick it up and move it! Look for a home in a neighborhood you like or one with rising property values and growing amenities. This way, when you’re ready to sell, you’ve got a property with solid value behind it.
Budget for Surprises: Fixing up a home can come with unexpected costs—those little “surprises” behind the walls. It’s always wise to budget with a cushion for any hidden repairs that pop up during the renovation.
Get a Home Inspection: Before buying, bring in a trusted home inspector. They’ll give you an honest assessment of what needs to be done so you’re not blindsided by major expenses down the line.
Prioritize Your Projects: Not every upgrade has to happen at once. Start with the essentials, like structural or safety repairs, and save the dream features for later. Think of it as a three-tiered approach: the must-haves (crucial repairs), the nice-to-haves (upgrades to improve daily life), and the dream-state features (the luxury items to add when you’re ready). This will keep you focused and within budget.

Remember, the ideal home might be the one you perfect over time. With a fixer-upper, you have the chance to shape a house into your vision while saving on the upfront cost. With careful planning and a bit of patience, you can turn a house that needs some love into a place that feels exactly like home.

And don’t forget—working with a real estate agent who knows the market can help you find the best options with potential. They can spot homes with solid value and guide you toward properties where upgrades will make a real difference, helping you stick to a budget that works.

Bottom Line

In a market where finding a move-in-ready home at the right price can feel like an uphill battle, a fixer-upper offers a flexible, rewarding alternative. If you’re open to putting in a little elbow grease, you can transform a fixer-upper into your dream home over time. Let’s explore the possibilities and find a place that works for you!

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Buying • Selling • November 4, 2024

How Interest Rates Shape the Real Estate Market

by Charles Dizon

How Interest Rates Shape the Real Estate Market

By Charles Dizon, Century 21 Real Estate Center – October 24, 2024

Let’s dive into something that impacts everyone in real estate: interest rates. They’re a big deal, affecting everything from loan affordability to housing demand to the overall economy. For anyone buying, selling, or investing, a solid grasp on how interest rates influence the market is key. And while the Federal Reserve plays a big role by adjusting rates, it’s rarely a straightforward cause-and-effect on mortgage rates—there’s a lot more to it.

The Link Between Interest Rates and Real Estate

1. Mortgage Affordability

Interest rates directly shape what people pay on mortgages, which translates into what homes they can afford.

Low Rates: When rates drop, monthly payments do too, so buyers can often afford higher-priced homes.
High Rates: Higher rates mean bigger monthly payments, shrinking buyers’ purchasing power and, in some cases, the number of eligible buyers.

2. Housing Demand

Interest rates also sway the level of demand in the housing market. When rates are low, buyers can finance homes more affordably, driving up demand and often home prices. On the flip side, high rates tend to cool things off by making loans more expensive and reducing buyer activity.

3. Real Estate Investment

For investors, interest rates are a deciding factor in the cost of financing properties. Lower rates generally attract more investment in real estate, as cheaper financing boosts potential returns. But as rates rise, the cost of borrowing climbs, and investment interest may start to taper off.

4. Refinancing Frenzy

When rates drop, it’s often an invitation for homeowners to refinance. Lower rates mean smaller monthly payments and can free up cash flow. Naturally, higher rates mean fewer folks jumping on the refinance train.

The Role of the Federal Reserve

The Federal Reserve—or “the Fed”—is a key player here. By setting the federal funds rate (the rate at which banks lend to each other), the Fed can either cool off or rev up the economy. But it’s important to note that while Fed rate changes influence mortgage rates, the connection is indirect and influenced by market conditions.

Short vs. Long-Term Rates: The Fed primarily affects short-term rates, while mortgage rates are more in line with long-term rates, which are shaped by factors like inflation expectations and demand for mortgage-backed securities.
Market Expectations: Mortgage rates are heavily impacted by what investors anticipate for the economy. If the Fed signals a rate cut, mortgage rates might drop, provided investors expect stable inflation and economic growth.
The Yield Curve: Fed policy changes can reshape the yield curve, impacting longer-term rates like mortgages. But again, it’s mediated by how the market reacts.

Will a Fed Rate Cut Always Lower Mortgage Rates?

Not necessarily. While a Fed rate cut often nudges mortgage rates down, it’s no guarantee. Inflation, global conditions, and investor sentiment all play a part in the outcome.

Volatility on the Horizon

We expect some volatility in the coming months regarding interest rates, and we’re already seeing the shifts play out. In the past six weeks alone, mortgage rates have jumped from around 6.09% to nearly 6.9%. For anyone navigating the market—whether buying, selling, or investing—these changes underscore the importance of staying informed and ready to adapt.

Interest rates have a big influence on real estate, from making or breaking mortgage affordability to shaping demand and investor interest. For buyers, sellers, and investors, understanding how these rates work—and how the Fed plays into it—helps to make savvy, informed decisions. And as always, a knowledgeable real estate professional can help you navigate these waters, whatever the rate environment.

Selling • October 23, 2024

Planning To Sell Your House in 2025? Start Prepping Now

by Charles Dizon

If you’re thinking about selling your home in 2025, there’s no time like the present to start preparing. I know, it feels like you’ve got plenty of time, but getting a jump on those updates and repairs will save you from scrambling later. Danielle Hale, Chief Economist at Realtor.com, put it best when she said:

“ . . . now is the time to start thinking about what you need for your next home and then taking those steps to prepare to list . . . We have survey data that says 47 percent of sellers are taking longer than a month to get their home ready to sell, so getting them to start that process early can mean more flexibility.”

The earlier you get started, the better. It gives you the wiggle room to tackle any necessary projects at a steady pace rather than rushing through them. But before you roll up your sleeves, partner with an expert agent (like me!) who knows your local market and can give you the inside scoop on which repairs or updates will give you the biggest bang for your buck.

Why Start Early?

To sell quickly and for the best price, your home needs to look its absolute best. That might mean tackling repairs, clearing out clutter, or maybe even making a few upgrades that add real value.

Starting early lets you handle everything one step at a time. Whether it’s fixing that door that’s always been a little sticky, giving the yard some love, or finally painting that room, starting now keeps you in control and stress-free. If you push it all off until later, you’ll probably feel like the list of things to do is never-ending. And, as Realtor.com points out:

“There are some important repairs to make before selling a house, so don’t be in too much of a hurry to get your home listed … if you move too fast, buyers see right through the fact that you skipped important home renovations. And this . . . might end up costing you time and money.”

So, What Should You Focus On?

If you’re pumped to get started but feeling a little lost about where to begin, don’t worry—you’re not alone. Take a peek at the chart below for the most common improvements sellers are making today:

Paint the interior of the home (46%) Improve the bathroom (42%) Improve the kitchen (38%) Landscape the yard (35%)

These are some great places to start, but your local market might have its own unique trends. This is where working with an agent who knows the local market becomes key.

The Importance of a Local Expert

While these numbers give you a general idea of what’s popular, they’re just a starting point. What buyers in your area want may be completely different, and only a local agent can help you figure that out.

For instance, if homes in your neighborhood are flying off the market because of updated kitchens, I’d probably suggest you prioritize kitchen improvements over other areas that might not yield as much return. I can also guide you on whether big projects, like a new roof or HVAC upgrade, are worth your time and money based on the competition in your area. As Point puts it:

“Not all renovations are created equal, and focusing on upgrades that offer the highest potential for increasing your home’s value is key.”

And it’s not just the big stuff that counts. Sometimes, smaller details—like sprucing up the yard, adding fresh mulch, or painting your front door—can make all the difference in how buyers see your home. An experienced agent will help you focus on the right projects to make sure your home shines.

Bottom Line

Thinking about selling next year? Don’t wait until the last minute to start getting your house in tip-top shape. By planning ahead, you can have everything ready to go when the time comes.

Not sure where to start? Let’s connect, and I can create a plan tailored just for you.

Buying • July 15, 2024

Why Working with a Real Estate Professional Is Crucial Right Now

by Charles Dizon

Why Working with a Real Estate Professional Is Crucial Right Now

Navigating the housing market can feel like trying to solve a complex puzzle, particularly in today’s unpredictable environment. That’s why it’s crucial to have an experienced guide by your side when buying or selling a home. The current market landscape is anything but simple, and a real estate expert can provide the insights and advice you need to make informed decisions.

Even though today’s market conditions might seem confusing or overwhelming, you don’t have to face them alone. With a trusted expert guiding you through every step (pick me!), you can approach the process with the clarity and confidence you deserve.

Here are just a few of the ways a real estate expert is invaluable:

Contracts – Agents help with the disclosures and contracts necessary in today’s heavily regulated environment.

Experience – In today’s market, experience is crucial. Real estate professionals know the entire sales process, including how it’s changing right now.

Negotiations – Your real estate advisor acts as a buffer in negotiations with all parties, and advocates for your best interests throughout the entire transaction.

Industry Expertise– Knowledge is power in today’s market, and your advisor will simply and effectively explain processes, market conditions, and key terms, translating what they mean for you along the way along the way.

Pricing – A real estate professional understands current real estate values when setting the price of your home or helping you make an offer to purchase one. Pricing matters more than ever right now, so having expert advice will help ensure you’re set up for success.

A real estate agent is a crucial guide through this challenging market, but not all agents are created equal. A true expert can carefully walk you through the whole real estate process, look out for your unique needs, and advise you on the best ways to achieve success.

Finding an expert real estate advisor – not just any agent – should be your top priority if you want to buy or sell a home. As Bankrate says:

“Real estate is very localized, and you want someone who’s extremely knowledgeable about the market in your specific area. You should also look for someone with a successful track record of negotiating and closing deals, preferably for homes similar to the kind you want to buy.”

What’s the Key To Choosing the Right Expert?

Like any relationship, it starts with trust. You’ll want to know you can depend on that person to always put you and your best interests first. That means hiring a true professional. As Business Insider explains:

“As long as you’ve properly vetted the agents you’re considering and ensured they have the necessary expertise, it’s ok to go with your gut when making your final decision on which real estate agent you want to work with. You’re going to be working closely with this person, so it’s important to choose an agent you’re comfortable with.”

Bottom Line

It’s essential to have a knowledgeable expert by your side to navigate today’s housing market dynamics. If you’re planning to buy or sell a home this year, let’s connect. Having a real estate professional to provide the best advice and guide you through the process can make all the difference.

Buying • April 19, 2024

Community Highlight: Everett Resources

by Charles Dizon

Community Highlight: Everett Resources

Everett, Washington is a city rich in resources for its residents. The Sno-Isle Libraries and Everett Public Library serve Snohomish and Island counties, offering free access to books, movies, events and more to eligible residents. with various locations. including the Mariner Library and Mill Creek. The Everett Public Library also serves as a hub of information, education, and entertainment. For those in need, food banks operate throughout the city, providing essential sustenance to families and individuals. The Carl Gipson Center, named after a former city council member, serves as a community hub with various programs and services. The Everett Gospel Mission provides shelter and support to the homeless, working tirelessly to alleviate poverty. Everett Transit ensures connectivity within the city, facilitating easy access to these resources. Lastly, the Everett Police and Fire departments work relentlessly to ensure safety and security for all Everett residents.

Everett Public Library

The Everett Public Library connects the community and all its members to resources and services that inform, educate, and entertain. They provide open access to lifelong learning. Everett Public Library embraces the future while preserving the past. The library has two locations, the Main Library and the Evergreen Branch. The Library provides programs like story times, art shows, lectures, and more. It has access to the digital eLibrary, with eBooks, eAudiobooks, movies & TV, eMagazines, eMusic and more! Learn More

Sno-Isle Libraries

Sno-Isle Libraries serves Snohomish County and Island County. They have 23 libraries and serve over 800,000 residents. The library hosts many events, along with offering books, audiobooks, eBooks, and DVDs. They offer free Wi-Fi, laptop and Wi-fi hotspots to check out, personalized help with librarians, host a summer reading program and so much more. Learn more

Volunteers of America – Everett Community Food Bank

The Everett Community Food Bank serves guests in a walk-thru, grocery style experience.

Located at 230 Broadway, Everett, WA 98201

(425) 259-3191 ext 13014 | food@voaww.org

MON • WED • THURS | 10am – 2pm

2nd & 4th TUES | 3pm-6pm

Learn More

Salvation Army Food Bank

2525 Rucker Ave, Everett WA 98201

For information, call: (425) 259-8129

Food Bank – Walk in Hours | Monday-Friday 10:00 AM to 4:00 PM

Everett Gospel Mission

Everett Gospel Mission first opened its doors in 1961 to care for the homeless men of Everett. Today, the Mission continues to be the only provider of emergency shelter for men. The mission has expanded to include services for single moms and single women. They provide shelter and comprehensive recovery programs for 145 men, and 75 women and children each night. They provide all services without regard to age, gender, race or religion while sharing the love of Christ. As a 501(c) 3 non-profit organization, we are audited annually by an independent firm. 90% of our funding is provided by individuals, businesses, churches and foundations. Learn More

Carl Gipson Center

The Carl Gipson Center is a membership-based community serving adults 50+, veterans, individuals with disabilities, underserved communities, immigrants, youth, and families. Located at 3025 Lombard Ave, Everett WA 98201. Learn More

Everett Parks & Facilities

Everett offers many events, parks, and facilities for the residents to enjoy. Summer events include 4th of July celebrations, Jetty Island Days, and Sorticulture Garden Arts Festival. Everett is full of parks that offer trails, picnic shelters, sports fields, gardens, and views. Learn More

Everett Transit

Everett Transit is a municipally owned and operated transit system of the City of Everett. It is a division of the Transportation Services Department, along with the Motor Vehicles Division. Everett Transit operates local fixed-route and paratransit services seven days a week, including most holidays, within the City of Everett. We offer a Customer Service Center at Everett Station, where we connect customers to a variety of regional transportation options. Learn More

Everett Community College

Everett Community College educates more than 15,000 students every year at several locations in Snohomish County, with most students and faculty at the main campus in north Everett. The college offers associate degrees in Arts and Sciences, Science, Business, Applied Science, Technical Arts, Fine Arts, and General Studies, and a bachelor’s of applied science degree in Accounting. Certificates of completion are awarded in more than 30 technical and career fields. Learn More

Everett Police Department

The Everett Police Department is a premier law enforcement agency in Washington State. We believe in community-oriented policing and work in partnership with the community to enhance quality of life and reduce crime through our core values of integrity, professionalism and honor. The department is heavily involved in working with residents and provides outstanding services to the city. Serving a population of over 100,000, our officers and staff represent diverse backgrounds and pride themselves on protecting, serving and working with Everett residents, business owners and organizations. Learn More

3002 Wetmore Avenue, Everett, WA 98201

Phone: 425-257-8400

Emergency: 911

Everett Fire Department

Throughout the city limits, Everett’s firefighters respond from 6 fire stations with 6 fire engines, 2 ladder trucks, 3-4 aid units, 3 medic units, 1 medical services officer, and 1 battalion chief command unit. The department also supports special operation teams for Hazardous Materials, Technical Rescue, Rescue Swimmers, Marine and Wildland responses. Learn More

2801 Oakes Ave, Everett, WA 98201

Phone: 425-257-8100

Emergency Phone: 911

Buying • Selling • February 2, 2024

Don’t Wait Until Spring To Sell Your House

by Charles Dizon

Don’t Wait Until Spring To Sell Your House

As you contemplate the upcoming year, the prospect of moving might be a significant goal on your horizon. However, the question remains: when is the ideal time to make your move? While spring traditionally signals the peak of the homebuying season, waiting until then is not a prerequisite for putting your house on the market. Here’s why.

1. Take Advantage of Lower Mortgage Rates

In October, 30-year fixed mortgage rates reached a peak of 7.79%. By January, they had descended to their lowest point since May, providing a window of opportunity for potential sellers. This decline in rates has made the prospect of moving more economically feasible compared to just a few months ago.

Another compelling reason to consider selling now is the resurgence of buyers in the market. Many had been biding their time, anticipating a decrease in rates, and are now eager to make purchases. According to Sam Khater, Chief Economist at Freddie Mac:

“With the stabilization in rates, potential homebuyers with affordability concerns have jumped off the fence back into the market.”

2. Get Ahead of Your Competition

Currently, there is a higher demand for homes than there are available listings, placing potential sellers in a favorable position. However, it’s important to note that with a recent increase in new listings, more sellers might be entering the market.

Listing your house now allows you to surpass your competition and ensure your property stands out. Working with an agent to set the right price could lead to a swift sale with multiple offers. U.S. News highlights:

“When there is low housing inventory, sellers could get top dollar for their homes.”

3. Make the Most of Rising Home Prices

Experts predict that home prices will continue to rise throughout the year. What does this mean for you? If you’re considering selling your current home and purchasing another, acting now might be wise before prices climb further. This strategy affords you the opportunity to acquire your next home before it becomes more expensive.

4. Leverage Your Equity

Today’s homeowners possess substantial equity. A recent report from CoreLogic indicates that the average homeowner with a mortgage holds over $300,000 in equity.

If concerns about home affordability have held you back from selling, recognizing the value of your equity can be a significant asset for your next move. It may even cover a substantial portion, if not all, of the down payment for your next home.

Bottom Line

If the idea of selling your house and transitioning to a new one is on your mind, let’s connect to initiate the process now. Acting promptly can provide you with a competitive edge and set you on the path to a successful move.

Buying • January 25, 2024

Experts Project Home Prices Will Increase in 2024

by Charles Dizon

Experts Project Home Prices Will Increase in 2024

While there is a national trend of increasing home prices, some individuals remain concerned about a potential decline. A recent survey by Fannie Mae reveals that 24% of people expect home prices to decrease in the next 12 months, reflecting a common apprehension.

To help ease that concern, here’s what experts forecast will happen with prices this year.

Experts Project a Modest Increase

Check out the latest home price forecasts from eight different sources (see graph below):

The blue bar on the left means, on average, experts think home prices will go up over 2% by the end of this year – not down.

The expectation is rooted in the tight inventory and lower mortgage rates contributing to robust buyer demand. Selma Hepp, Chief Economist at CoreLogic

“With mortgage rates dropping, demand for homes in early 2024 is likely to be strong and will again put pressure on prices, similar to trends observed in early 2023 . . . Most markets will continue to reach new home price highs over the course of 2024.”

What Does This Mean for You?

If you’re contemplating buying a home, the forecasted increase in home prices is positive news. Homeownership becomes an even more valuable investment as the appreciation in your house’s value builds equity over time. Additionally, the projected home price appreciation implies that delaying a home purchase may result in higher costs later. In essence, if you are ready, willing, and able to buy, waiting might mean a more expensive investment down the line.

Bottom Line

In conclusion, if concerns about a potential decline in home prices linger, rest assured that many experts believe prices will actually rise this year. If you have questions or uncertainties about local price trends, let’s connect.

Buying • Selling • January 9, 2024

Unlocking Your Homeownership Potential with Lower Mortgage Rates

by Charles Dizon

What Lower Mortgage Rates Mean for Your Purchasing Power

Understanding the pivotal role mortgage rates play in determining affordability and monthly payments is crucial for prospective homebuyers. Fortunately, 30-year fixed mortgage rates have significantly decreased since the end of October, currently standing at less than 7%, as reported by Freddie Mac (refer to the graph below). This positive development is particularly beneficial for buyers, as highlighted in a recent Bankrate article:

“The rate cool-off somewhat eases the housing affordability squeeze.”

Edward Seiler, AVP of Housing Economics and Executive Director of the Research Institute for Housing America at the Mortgage Bankers Association (MBA), affirms:

“MBA expects that affordability conditions will continue to improve as mortgage rates decline…”

This favorable trend can significantly impact your plans to purchase a home.

How Mortgage Rates Affect Your Search for a Home

Understanding the Impact of Mortgage Rates on Your Home Search Comprehending the correlation between mortgage rates and your monthly home payment is essential in realizing your dream of homeownership. The chart below illustrates how changes in mortgage rates can alter your ability to afford a home. Imagine having a budget allowing for a monthly payment between $2,400 and $2,500. The green section in the chart represents payments within or below that range (see chart below):

As depicted, even minor fluctuations in rates can influence your budget and the loan amount within your means.

Seek Guidance from Trusted Experts to Navigate Your Budget and Plan Ahead When embarking on the journey to buy a home, seek guidance from a local real estate agent and a reputable lender. They can assist you in exploring various mortgage options, understanding the factors influencing mortgage rate fluctuations, and how these changes impact your financial situation.

By analyzing the numbers and the latest data collaboratively, and adjusting your strategy based on current rates, you’ll be well-equipped and poised to make your home purchase.

Bottom Line: For those aspiring to buy a home, the recent decline in mortgage rates is a positive development for your plans. Let’s connect and strategize for your next steps in the homebuying process.

The #1 Thing Sellers Need To Know About Their Asking Price

Expectations vs. Reality

How I Help You Price It Right

Why Starting Too High Can Hurt You

Bottom Line

The Majority of Veterans Are Unaware of a Key VA Loan Benefit

The Benefits of VA Home Loans

Bottom Line:

So, What Exactly Is a Fixer-Upper?

Tips for Tackling a Fixer-Upper Purchase

Bottom Line

The Link Between Interest Rates and Real Estate

1. Mortgage Affordability

2. Housing Demand

3. Real Estate Investment

4. Refinancing Frenzy

The Role of the Federal Reserve

Will a Fed Rate Cut Always Lower Mortgage Rates?

Volatility on the Horizon

Why Start Early?

So, What Should You Focus On?

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The Importance of a Local Expert

Bottom Line

Why Working with a Real Estate Professional Is Crucial Right Now

What’s the Key To Choosing the Right Expert?

Bottom Line

Community Highlight: Everett Resources

Everett Public Library

Sno-Isle Libraries<img decoding="async" class="alignright" src="https://inception-app-prod.s3.amazonaws.com/MDMwMDIwN2UtMDFmNy00MTAyLWIzOTItMWNmZTlkOTQ3YzAw/content/2024/02/e459e3908384951b1521446439e43b269a3dfd7e.png" data-eio="l" />

Volunteers of America – Everett Community Food Bank

Salvation Army Food Bank

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Carl Gipson Center

Everett Parks & Facilities

Everett Transit

Everett Community College<img decoding="async" class="alignright" src="https://inception-app-prod.s3.amazonaws.com/MDMwMDIwN2UtMDFmNy00MTAyLWIzOTItMWNmZTlkOTQ3YzAw/content/2024/02/53d96ae082f82d71c0e30372899f2cae4e6d8b4a.jpg" data-eio="l" />

Everett Police Department

Everett Fire Department

Don’t Wait Until Spring To Sell Your House

1. Take Advantage of Lower Mortgage Rates

2. Get Ahead of Your Competition

3. Make the Most of Rising Home Prices

4. Leverage Your Equity

Today’s homeowners possess substantial equity. A recent report from CoreLogic indicates that the average homeowner with a mortgage holds over $300,000 in equity.

Bottom Line

Experts Project Home Prices Will Increase in 2024

Experts Project a Modest Increase

What Does This Mean for You?

Bottom Line

What Lower Mortgage Rates Mean for Your Purchasing Power

How Mortgage Rates Affect Your Search for a Home

Sno-Isle Libraries

Everett Gospel Mission

Everett Community College