Fall is here!
With the warm weather last weekend, to the crazy rain interrupted by some sunshine in the late afternoon this week. I start perusing for some Fall warm & easy meals. I have brought out my Instapot Pressure Cooker w/Airfryer lid (my favorite kitchen tool). I love making roasted chicken, pot roast, soups and risottos. I have been looking for some fun new recipes and FODMAP recipes for the Instapot for quick meals. For those that are not familiar with FODMAP it is a gut healthy way of eating (safe foods & amounts for IBS, SIBO and other gut related issues.) Check out below for some great recipes and information on Monash Universitites FODMAP Diet & Recipes.
Since last May I have been working on my over all health and started seeing Dr. Steven Lebrecque; a Naturopathic Physician and Functional Medicine Practitioner. He has helped me understand the “M” word (menopause) better and how it has effected my life. He put me on bio-identical hormones – wholly molly Game Changer – life is so much better; more energy, better sleeping, no more foggy brain, no more hot flashes, and my metabolism is working (not like in my teenage years – but better than befoe) I have also added a couple links below – on gut health and bio-identical hormones. Super Game Changers in my life. With eating the Low FODMAP Diet, going to Greenlake Strength & Conditioning, Bio Identical Hormone Replacement, I am feeling good and liking how I look even better. Life is good!
What’s happening in our Real Estate Market?
There are new homes coming on the market every day, and homes being closed every day (sold). Yes, it is a slower market, less houses on the market, and less buyers venturing out to buy. What is the cause of it? Some people say interest rates being high is the reason, some people say this is are normal slow down prepping for our hibernating time. I believe it is a little of both.
Yes – rates are higher with my own experience this month in buying my condo – I negotiated a 3/2/1 rate buy down package -which means: my first year of home ownership interest will be 3% lower than my locked in rate of 7.62%. My 2nd year will be at 5.62% and then the 3rd year will be at locked in rate of 7.62%. With the idea I can refinance in the first 2.5 years of home ownership.
I am also hearing of arms returning and other offers to help with making buying a home more feasible for some.
If you want more specific numbers on what’s happening locally; I send out a Seattle Metro weekly Market Recap every Monday around 11am. Let me know what you think!!
I am adding a section to The Umbrella for the foreseeable future – Kyle Bergquist, Manager at American Pacific Mortgage in Ballard and his Friday Weekly Market Update. This is full of great commentary with graphs to support it. Since The Umbrella comes out every other week, I will only post the current Update. If you want to receive his Update weekly, please subscribe to his Update at the end of his post.
I found this article written for the NW Multiple Listing Services on Consumer Interest Rate Mindset – here is a portion of the article I found most compelling:
Published on: October 5, 2023
“In March, the team at John Burns Research & Consulting found 5.5% was “the magic mortgage rate, the tipping point beyond which most consumers say they would not buy a home.” More recently, those attitudes have not changed, despite six months of rates hovering between 6.5% and 7.5%.
Burns cites three reasons why the 5.5% rate has such a hold on consumers:
Consumers are mentally anchored to low rates, noting mortgage rates stayed below 5% for 12 consecutive years when most of the borrowers in their New Home Trends Institute survey bought or refinanced. The vast majority – 90% – of current borrowers have rates below 5.5%.
Consumers cannot afford a higher rate. “Affordability has never been worse,” the researchers wrote, adding it’s why builders are finding success with rate buydowns.
Consumers expect rates to fall. Some 88% believe rates will drop below 5.5% at some point in the next five years.
“For buyers who are not in a hurry, the fall and winter months could bring better values and a less competitive environment to find the right home,” said George Ratiu, chief economist at Keeping Current Matters, a real estate market insights company. His comments were made in an interview with U.S. News.
In late July, NAR chief economist Lawrence Yun said, “Given the ongoing job additions, any meaningful decline in mortgage rates could lead to a rush of buyers later in the year and into next.”
To read the entire article click the link below:
There is so much on my mind right now – Start of Q4 and prepping for 2024 is beginning at the end of the month, buying a new condo and moving in before Thanksgiving, All of the Holiday Festivities and much more!
Sure would like to meet up somewhere with you this season – lets find a date and do something together
A Referral and/or a Positive Review from You – Is the best Compliment Ever!
Unless you’re buying your next house in cash, you need to finance part of the purchase (probably most of it) with a mortgage loan. That loan can have both positive and negative impacts on your credit score.
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“Sip & Let Your Soul Bloom” Escape from the ordinary, as we offer a new twist to our artistic “Sip” classes. In this most extraordinary and unique workshop, you’ll be provided with one-on-one instruction on arranging colorful flowers on top of soulful art to create a unique 3D masterpiece. Mae Olivia and Erin Barzen
COMING TO YOU NEXT SPRING
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SUNDAY for Mobility Class
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