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Found 5 entries published by Keenan Porter.

 

Over the past few year’s buyers within the Washington housing market have been taking hit after hit. Back in 2020 through 2021 buyers were faced with the lowest inventory of homes Washington has ever seen. This was then coupled with an excess of other buyers all trying to lock in a sub 3% rate. These factors led to bidding wars of hundreds of thousands over asking price and buyers having to submit offers on close to ten homes before acceptance.

Then another punch in the nose befell home buyers. Just as inventory began creeping up so did interest rates. “Experts are forecasting that the 30-year, fixed-mortgage rate will vary from 5% to 7% by the end of 2022. Here are their more detailed predictions, as of late May 2022:” (Forbes). Some say

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What a difference a few months make.  With the rise in interest rates and inflation, we have seen homes go from selling almost before the ground is broken for the sign, to now homes are sitting on the market for days, if not weeks.  For example, according to Altos Research, one Seattle bedroom community, Sammamish, saw 37% of homes during the first week of June have a price reduction.

  •          Home sellers really need to re-think their expectations.
  •          The days of “multiple offers and waived inspections are behind us.”
  •          Active Listings up a whopping 59% from a year ago.
  •          Both pending sales (mutually accepted offers) and closed sales during May were down from a year ago.
  •          Rising interest rates coupled
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Issaquah-Fall City Road Bridge Construction:

Crews are widening the road from two lanes to four lanes and are improving the intersections from signalized intersections to roundabouts,” Sammamish Senior Project engineer Sam Park said. “There are going to be three roundabouts, and we’re removing a sag in the roadway by building a bridge.”

It is that bridge work that is going to cause the closure of this route that connects the Sammamish Plateau to Highway 202 and I-90. The bridge is 400 feet long. Park said the plan is to close Issaquah-Fall City Road at the end of the month, though the closure date is still in flux. This closure will last eight months.

“Everyone is going to have to find their way around it,” Park said. “We’re going to have to

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 Diana Olick  
  • The dollar volume of homes purchased by foreigners from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors.
  • Foreigners bought 183,100 properties with a total value of about $77.9 billion, down from 266,800 properties valued at $121 billion a year earlier.
  • “The magnitude of the decline is quite striking, implying less confidence in owning a property in the U.S.,” the Realtors’ chief economist says."

Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, caused a stunning drop in foreign demand for American homes.

The dollar volume of homes purchased by

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2300 Jefferson Ave NE #B109, Renton, Washington

$385,000 - 3 Beds 2½ Baths 1,454 Sqft                       

Text 1491851 to 425-223-4655 or call Keenan at 425-518-9094 for more information

This home is a beautiful and secluded corner unit with three bedrooms and three bathrooms. It has a lavish open layout packed full of new appliances, hardwood floors, and ample storage space. The kitchen has tons of counter space and excellent lighting.

The home backs up to a stunning view of the greenbelt and is accompanied on the side by a large private patio. In addition to this there is a detached garage pre-fitted with shelving. The home is in a secure gated community that provides additional parking spaces, a clubhouse, and an exercise

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