Its FRIDAY Before the Holiday Season Begins!  What are you doing this weekend?  Shopping for that Day of Food?  Preparing your pooch for the Westminster Dog Show?  Building a Float the the Macy’s Day Parade?  or getting your groove ready for the all day shopping of Black Friday?  Me?  Well – I am unpacking and going to my first puppy training class with Opie, and getting my Business Plan completed for 2024.

It is supposed to be blustery this weekend –

I have had many conversations in the last couple of weeks asking how is the real estate market?  How are you doing Theresa?  Well, I am fine! Yes, the actual buying and selling with you are very slow, but that doesnt mean I am not planning and working on the next 6 months.   I still believe we live in a very stable economic market, I am very confident of our financial outlook.  I was reading Kyle Bergquist’s weekly Market Update and this was my big take-away and confirmation on what I am seeing & feeling this season:

“It’s scary to buy a home in a good market.  But to buy a home in THIS market?…When the Wall Street Journal is saying it’s literally the WORST time to take the leap from renting to buying, and all the economic headlines point to a possible slowing economy???  Now that can be downright terrifying, and it’s definitely one more reason why overall transaction count in King County today is down 49.70% compared to 2021, and 55.06% compared to 2020.  There are simply a lot of unknowns right now, which makes it more important than ever to fall back on what we do know:

1)      62% of current homeowners have a mortgage interest rate below 4%.  If rates continue falling and hit the low to mid 6s, or even sniff the 5s; buyers are going to be much more excited than sellers, and that could cause for a very strong Seller’s Market as soon as next March.

2)      The backbone of the Puget Sound Housing Market is the local job market.  Between strong growth in industries such as cloud computing, AI, video gaming, satellites, and aerospace – all massive industries that the Puget Sound excels in – The backbone of our housing market, the local economy, is incredibly strong.

3)      And lastly, geographical barriers aren’t going anywhere, but with the return(ish) to work, people will need to live within a reasonable commute to the city centers.  Thus, there will be continued demand for housing here in Puget Sound.”
Kyle Bergquist
Branch Manager – APM Puget Sound Group
American Pacific Mortgage
Company NMLS: 1850  |  Equal Housing Lender
1448 NW Market Street, Office 5-127; Seattle, WA 98107

If you would like more information or Kyle’s weekly Recap – let me know and I will put you in-touch with him!

Have a great upcoming Weekend & Holiday!
Next Newsletter is December!!!!

With Love & Gratitude
Theresa & Opie