Your GOOD news report for the year to come.

Hey there friends! January 2023 is almost behind us & if your home is anything like ours, it is full of energy, goals & excitement about all this year may bring - GO YOU! And if buying or selling a home is on your goals list this year, now is the perfect time to get up to date, to get organized & to get on my client calendar as this year is shaping up to be busy. First, let's get you up to date . . . Reading the headlines, sitting on the sidelines & waiting because you *know* the crash is coming?? Sorry, sweet friends, it isn’t coming. ⁣ ⁣ Living in Seattle’s Eastside area, is to know we live in one of the most desirable areas in the country & for sure in Washington state. Wage growth increased 6% this last year & the tech industry (one of our largest employers) has grown over 62% since 2015.⁣ ⁣ Unlike prior economic downturns, today foreclosures are minimal & inflation is said to have peaked last fall, so while large employers will have to continue to make layoffs to balance out the Covid hiring boom & the days of the unicorn interest rates have passed, know that a year from now the home you are looking at today WILL be about 9%+ more expensive next year. Andddd, buyers are so, so tired of waiting….the first three weeks of January have been busier than Fall 2022 all together. ⁣ If you'd like to hear more about the market from my team leader & Compass CEO, Robert Reffkin, click the links below. He believes the "bottom" passed us in the final months of 2022. Read why below. ⁣ Next, let's get you organized . . . My best advice to you if you’re looking to buy…GET OUT THERE! Right now is still relatively sleepy (but that won’t last long), so get your buying ducks in a row & be ready to jump when that beautiful home hits the market. Then enjoy knowing you didn’t overpay, you will be building equity right from the start (oh hey there, generational wealth building!) and you didn’t have to sacrifice your protections as a buyer to beat out 20 competing offers. Interest rates are sitting around 6% right now and with buydowns (a fee paid to your mortgage lender to buy down the interest rate) you could even see yourself with a rate in the 5%s. Additionally, if you are wanting to keep your monthly payments as low as possible, plan on putting 20%+ down (payment) avoiding a monthly PMI charge which can cost $100s each month. PMI | Private Mortgage Insurance, required by mortgage lenders until you have reached 20% equity in your home. ⁣ And, if you want to sell. It will be just fine, price & prepare it right & your home will be IN DEMAND (once again the data gurus are predicting low inventory in our area). ⁣This week alone in my community, Woodinville,WA, a number of well priced homes went pending with multiple offers - not 20 offers, but up to 3 for each home. Not too shabby! ⁣ Remember sell high, most likely you’re buying high. Sell low, most likely you’re buying low. It’s all relative. ⁣ ⁣ Lastly, let's get you on my client calendar for 2023 . . . Need listing advice (my speciality!) or a fantastic lender to help you with those ducks? Give me a call, I'm happy to help.⁣ ⁣ Class is dismissed.⁣ Cheers, Keri PS | Remember dreams are actualized by achieving consistent, step by step goals. So dream big & then start planning your smaller goals, each momemtuming you one step closer to the dream. This is YOUR year, go get it!

"For the first time in 10 months, all the statistics I look at are trending positively." - Compass CEO Robert Reffkin, CNBC

Watch CNBC segment here

The 6 reasons why Compass CEO Robert Reffkin believes Q4 of 2022 was the bottom of the recent real estate market cycle 1. 25% increase in weekly mortgage applications. 2. Mortgage rates continue to move down to a 4-month low. 3. Increase in buyer interest, open house traffic, and offers. 4. In the last quarter of 2022, 42% of sellers were giving concessions to buyers at the closing table, a 10-year high. 5. Home builder sentiment improved for the first time in 1 year. 6. Pending closings were down 30+% at points in the fall but over the last few weeks, we have seen pending listings in most of our markets nearly flat year over year.

Keri Sliger Broker M: 206.419.9869 keri.sliger@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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