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Seattle Real Estate Update: What to Expect in Spring 2018
March 22, 2018 /I took a walk around my Denver neighborhood last weekend and–in addition to Colorado’s usual bizarre spring weather of sunshine plus wind and snow–noticed several open houses and even more for-sale signs posted in front yards. The spring buying season is here. As we enter this season, here’s the latest Seattle real estate and mortgage news. 1. Mortgage rates decreased. After increasing throughout January and February, long-term mortgage rates recently slipped from 4.46 percent to 4.44 percent. (This time last year, the long-term mortgage rate was slightly lower at 4.3 percent.) Fixed-rate mortgages also recently decreased from 3.94 to 3.9 percent. These decreases are good news for those buying or selling homes right now; lower mortgage rates tend to motivate individuals who are on the fence to finally buy. 2. Interest on home loans is still partially deductible. Many homeowners have had questions about how the 2017 Tax Cuts and Jobs Act would affect their ability to deduct interest from home equity loans and lines of credit. (Check out our blog post from earlier this year for more about how the Tax Cuts and Jobs Act will affect you). Responding to these questions from homeowners, the IRS recently issued a…Read more
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Four Helpful Tips for Spring House Hunting
March 2, 2018 /The other evening I stepped outside after work and found that the air was filled with the scent of blooming flowers and that fresh, lovely post-rain smell. I had the urge to run singing through the streets Sound-of-Music-style before I remembered I was in the middle of a crowded city, not a meadow in the Alps. Today, I checked the date and was startled to see that it’s March (where did February go?). I don’t want to jinx it, but I think that spring might be here. Spring is traditionally one the busiest times of year for real estate. Great weather makes for pleasant house hunting. Not to mention, front yards tend to have cast off winter’s gloom with new blooms and green leaves, adding significantly to curb appeal. With summer and potential vacation time just around the corner, sellers feel more motivated, leading to an increased inventory. According to Zillow, April through July were the best times to buy a home in Seattle in 2016. Due to the season’s many perks, shopping for real estate in the spring also has its challenges–more buyers are looking for homes, which can lead to increased competition and bidding wars. However, spring is…Read more
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Spring Has Sprung!
April 14, 2017 /Why Spring is the Best Time to Sell your Home Spring has sprung, and Americans around the country are emerging from winter sluggishness and preparing for a season of renewed vigor and activity. While this idealistic portrait might not totally fit reality (if you’re like me, it takes a few months and several strong cups of coffee to fully shake off winter hibernation), spring is still the perfect time to resume productivity after a long break. Unsurprisingly, spring is also one of the best times to sell your home. If you’re trying to sell your home this spring, Pickett Street’s talented team can help. However, before you go on the market, it helps to know exactly why selling your home while the garden blossoms is a winning move. Capital Curb Appeal Winter’s dreary procession of cold weather rarely improves a home’s curb appeal. Mounds of snow kill grass, torrents of rain flood the yard, and that chronic lack of sun isn’t doing your flowers any favors. As such, a house just doesn’t look as appealing from the outside, and so buyers are going to be much less motivated to explore it. That’s bad news for an owner trying to sell…Read more
