Sarosh Altaf Lynnwood WA Real Estate Agent

Some Highlights With inflation driving up the cost of  everyday items , seeking out an energy-efficient home can be a great way to decrease the  expenses  you can control. Energy efficiency can help lower your utility bills and possibly even  save you money  on your  taxes .  Options  to look for include efficient appliances, windows, and solar panels. If you’re planning to  buy a home  this year, consider energy efficiency in your search. Let’s connect so you can better understand features that can save you money for years to come.

  Are you thinking about  selling  your house? If so, you may want to make it a priority to start the process soon. According to  realtor.com , the sweet spot for sellers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years (excluding 2020, since it was an atypical year). When applied to the current market, experts determined the ideal week to list a house this year. The research says: “Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2022 is approaching quickly.  The week of April 10-16 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year .” If you’ve been putting your move on the back burner waiting for the ideal time to sell, you should know your golden window of opportunity is coming up. If you’re able to get your house ...

  The link between financial security and homeownership is especially important today as  inflation  rises.  But many people may not realize just how much owning a home contributes to your overall  net worth . As Leslie Rouda Smith, President of the  National Association of Realtors  (NAR),  says : "Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability." Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal. Owning a Home Is a Building Block for Financial Success A recent NAR  report  details several homeownership trends and statistics, including the difference in net worth between homeowners and  renters . It finds: “. . . the net worth of a homeowner was about  $300,000 while that of a renter’s was $8,000 in 2021 .” To put that into perspective, the average homeowner’s net worth is roughly 40 times th...

  Some Highlights If you’re thinking about selling your house this  spring , here are some things you’ll want to tackle  before you list . Spend your time on tasks that make it feel inviting, show it’s cared for, and boost your curb appeal. To determine the full list of things you’ll want to tackle for your home, you need the opinion of a  trusted expert . Let’s connect to help make sure your house shows well this season.

  For the first time in a long time, the number of newly listed homes is beginning to rise. In their latest  monthly release ,  realtor.com  reveals the number of existing homes entering the market has increased for two months in a row (this comes after six months of declines). Here’s a graph showing the monthly new listings going back to January of last year. The green bars indicate the first gains since June. However, buying demand is still outpacing housing supply. Though the increase in homes coming to the market is great news for prospective homebuyers, the number of buyers is still outpacing the number of homes available for sale. As  realtor.com  explains in their  latest report : “During the final two weeks of the month,  more new sellers entered the market than during the same time last year . . . . However, with 5.8 million new homes missing from the market and millions of millennials at first-time buying ages,  housing supply faces...

  If you’re a current homeowner, you should know your net worth just got a big boost. It comes in the form of rising home equity.  Equity is the current value of your home minus what you owe on the loan.  Today, you’re building that equity far faster than you may expect – and this gain is great news for you. Here’s how it happened.  Home values  are on the rise thanks to  low housing supply  and  high buyer demand . Basically, there aren’t enough homes available to meet this  high buyer interest ,  so bidding wars are driving  home prices  up. When you own a home, the rising prices mean your home is worth more in today’s market. And as home values climb, your equity does too. As Dr. Frank Nothaft, Chief Economist at  CoreLogic ,  explains : “Home prices rose 18% during 2021 in the CoreLogic Home Price Index, the largest annual gain recorded in its 45-year history, generating a big increase in home equity wealth.” The ...

  As a homebuyer, it’s important to plan and budget for the expenses you’ll encounter when you purchase a home. While most people understand the need to save for a  down payment , a recent  survey  found 41% of homebuyers were surprised by their closing costs. Here’s some information to help you get started so you’re not caught off guard when it’s time to close on your home. What Are Closing Costs? One possible reason some people are surprised by closing costs may be because they don’t know what they are or what they cover. According to  U.S. News and World Report : “Closing costs encompass a variety of expenses above your property's purchase price. They include things like lender fees, title insurance, government processing fees, upfront tax payments and homeowners insurance.” In other words, your closing costs are a collection of fees and payments made to a variety of individuals and organizations who are involved with your transaction. According to  Fred...

  Key Terms for Homebuyers [INFOGRAPHIC] Some Highlights Knowing key  housing terms  and how they relate to today’s market is important. For example, when  mortgage rates  and  home prices  rise, it impacts how much home you can afford. Terms  like  appraisal  (what lenders rely on to validate a home’s value) and the  inspection contingency  (which gives buyers essential information on a home’s condition) directly impact the transaction. Buying a home can be intimidating if you’re not familiar with the  terms  used throughout the process. Let’s connect so you have an expert guide and advice for any questions that may come up.

  If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the  National Association of Realtors  (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home. If that’s the case, you’re not alone. The past two years brought about significant changes for many people, and today, homeowners are reevaluating what they truly need in a home. As a recent report from the  Wall Street Journal  states: "They say the pandemic and the emergence of remote work accelerated millennial home-buying trends already under way. . . .  Millennials who already owned homes traded up for more space ." So, if you’re working  remotely  now or simply have a growing need for additional space, it may be time to move. And even if you purchased your current home sometime ove...

  Having an experienced guide coaching you through the process of buying or selling a home is important in a normal market –  but today’s market is far from normal.  As a result, an expert real estate advisor isn’t just good to have by your side, they’re essential. Today’s housing market is full of extremes. Experts project  mortgage rates  will continue to rise this year, and that’s driving  significant demand  for homes as buyers want to make their purchases before rates climb even higher. At the same time, an absence of sellers is leading to record-low  housing inventory . This imbalance in supply and demand is creating bidding wars and driving  home price appreciation  as well as considerable gains in  home equity . These market conditions can feel overwhelming, but you don’t have to go at it alone. Having a trusted expert to coach you through the process of buying or selling a home gives you clarity and confidence through each ...

  For many homebuyers, the thought of saving for a down payment can feel daunting, especially in today’s market. That’s why, when asked what they find most difficult in the homebuying process, some buyers say it’s one of the hardest steps on the path to homeownership. Data from the  National Association of Realtors  (NAR) shows: “For first-time home buyers,  29 percent said saving for a downpayment  [sic]  was the most difficult step in the process. ” If you’re finding that your down payment is your biggest hurdle, the good news is there are  many down payment assistance programs available that can help you achieve your goals.  The key is understanding where to look and learning what options are available. Here’s some information that can help. First-Time and Repeat Buyers Are Often Eligible According to  downpaymentresource.com ,  there are thousands of financial assistance programs available for homebuyers, like affordable mortgage opt...

  Many analysts projected home price appreciation would slow dramatically in the fall of 2021 and then continue to soften throughout 2022. So far,  that hasn’t happened . The major price indices are all revealing ongoing double-digit price appreciation. Here’s a look at their reports on year-over-year price appreciation for December: Federal Housing Finance Agency  (FHFA): 17.6% S&P Case-Shiller : 18.8% CoreLogic : 18.5% To show that they’re not seeing signs of softening, here’s a graph that gives the progression of all three indices for each month of 2021. As the graph above reveals, last year, home price appreciation accelerated dramatically from January to July according to all three indices. Then, it began to decelerate in August when prices appreciated at a slower pace, but it didn’t decline. Many thought that would be the beginning of a rapid slowdown in the level of home price appreciation, but as the data shows, that wasn’t the case. Instead, prices began to l...