The Kim Fraser Team Eastside

08/15/2023

08/09/2023

Challenge #1: The Reluctance to Take on a Higher Mortgage Rate
According to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (graph on slide 2).
But today, the typical 30-year fixed mortgage rate offered to buyers is closer to 7%. As a result, many homeowners are opting to stay put instead of moving to another home with a higher borrowing cost. This is a situation known as the mortgage rate lock-in effect.
The Advice: Waiting May Not Pay Off
While experts project mortgage rates will gradually fall this year as inflation cools, that doesn’t necessarily mean you should wait to sell. Mortgage rates are notoriously hard to predict. And, right now home prices are back on the rise. If you move now, you’ll at least beat rising home prices when you buy your next home. And, if experts are right and rates fall, you can always refinance later if that happens.
Challenge #2: The Fear of Not Finding Something to Buy
When so many homeowners are reluctant to take on a higher rate, fewer homes are going to come onto the market. That’s going to keep inventory low. Even though you know this limited housing supply helps your house stand out to eager buyers, it may also make you feel hesitant to sell because you don’t want to struggle to find something to purchase.
The Advice: Broaden Your Search
If fear you won’t be able to find your next home is the primary thing holding you back, remember to consider all your options. Looking at all housing types including condos, townhouses, and even newly built homes can help give you more to choose from. Plus, if you’re able to work fully remote or hybrid, you may be able to consider areas you hadn’t previously searched. If you can look further from your place of work, you may have more affordable options.
Bottom Line
Instead of focusing on the challenges, focus on what you can control. Let’s connect so you’re working with a professional who has the experience to navigate these waters and find the perfect home for you.
Kimberly Fraser | 253-279-0600 | [email protected]

08/08/2023

While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low. Data from the National Association of Realtors (NAR) shows 76% of homes sold within a month and the
average saw 3.5 offers in June.
The price you set for your house sends a message to potential buyers. Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with it. Not to mention, if you undervalue your house, you could leave money on the table, which decreases your future buying power.
On the other hand, price it too high and you run the risk of deterring buyers from ever touring it in the first place. When that happens, you may have to do a price drop to try to re-ignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder why the price was reduced and what that means about
the home.

A recent article from NerdWallet sums it up like this:
"Your house’s market debut is your first chance to attract a buyer and it’s important to get the pricing right.If your home is overpriced, you run the risk of buyers not seeing the listing . . . But price your house too low and you could end up leaving some serious money on the table. A bargain-basement price could also turn some buyers away, as they may wonder if there are any underlying problems with the house."
Pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. That makes it more likely you’ll see multiple offers too. Plus, when homes are priced right, they still tend to sell quickly.
So why is an agent essential in finding the right price? Your local agent has the skill and the insight necessary to find the market value of your home. They’ll use their expertise to determine a realistic listing price by assessing:
The prices of recently sold homes
The current market conditions
The size and condition of your house
The location of your house
Pricing your house at market value is critical, so don’t rely on guesswork. Let’s connect to make sure your house is priced right for today’s market!🏡
Kimberly Fraser | 253-279-0600 | [email protected]

08/05/2023

🎈 OPEN HOUSE 🏠

17096 SE 58th St, Bellevue, WA 98006
Let us know in the comments if you’ll be stopping by, we can’t wait to see you.

If you can’t make it to the Open House DM or comment for the link to the 3D Tour‼

📱 425-209-5638
📨 [email protected]

08/04/2023

SALE PENDING!
Congratulations to our sellers 🎉
📍8330 174th St Ct E, Puyallup, WA 98375

08/03/2023

Here are four compelling reasons why you should consider taking a peek beyond your specified budget:

1⃣ Expanding Your Options: In a competitive market with limited inventory, exploring homes above your budget may unveil hidden gems that meet your criteria and provide more choices.

2⃣ Gaining Valuable Insights: Viewing homes above your price range offers valuable context and allows you to understand how different factors, such as condition, amenities, finishes, location, and placement, can impact pricing. It helps you refine your priorities and make informed decisions.

3⃣ Discovering Hidden Value: Sometimes, higher-priced homes offer additional features, upgrades, or move-in readiness that can save you time, effort, and money compared to properties within your budget that may require renovations or improvements.

4⃣ Affordable Upgrades: Increasing your budget by a modest amount, like $10,000, can unlock access to homes or neighborhoods with superior quality and amenities. It’s important to evaluate the potential return on investment and how it aligns with your long-term goals.

So…Let’s explore your options and find the perfect home that checks all your boxes. 🏡💫

Kimberly Fraser | [email protected] | 253-270-0600

08/03/2023

SALE PENDING!
Congratulations to our seller 🎉
📍 1202 276th St E, Spanaway, WA 98387

08/02/2023

Wishing you a fantastic August filled with sunshine, joy, and endless opportunities! May this month bring you all the happiness, success, and good luck you deserve. 🏠🔑

07/31/2023

🏡 Understanding your loan options is a crucial step on the path to homeownership. Let’s take a moment to dive into the world of mortgages and discover the key to unlocking your dream home!
🗝 Fixed-Rate Loans: Stability is the game here. With a fixed interest rate, your monthly payments stay the same for the loan’s lifetime. Great for budgeting and long-term planning.
🗝 Adjustable-Rate Loans: These start with a lower interest rate, which can adjust over time. Ideal if you plan on moving before the rate goes up.
🗝 FHA Loans: With lower down payment requirements, these government-insured loans are perfect for first-time homebuyers or those with less-than-perfect credit.
🗝 VA Loans: A fantastic benefit for our veterans – these loans often require no down payment or mortgage insurance.
🗝 USDA Loans: Living in a rural or suburban area? You might qualify for a USDA loan, which also offers zero down payment options
When you’re ready to explore these options and more, I’m here to help and guide you. Your dream home awaits. Let’s unlock it together!
Kimberly Fraser | [email protected] | 253-279-0600

07/27/2023

✨Just Sold!✨

Congratulations to our amazing seller at 1611 102nd Place NE Unit , Bellevue, WA 98004! Thank you for choosing us as your trusted real estate partners. Whether you're buying, selling, or investing, we're here to help. Contact us today and let's make your real estate goals a reality! 🏠💕

Kimberly Fraser | 425-209-5638 | [email protected]

07/26/2023

✨S O L D✨
2142 7th Ave SW, Puyallup, WA 98371
Thank you to our buyer for trusting us to guide them through the home buying process. We could not be more excited for you!
If you or someone you know is interested in buying, selling or investing in real estate, contact me today:
Kimberly Fraser | [email protected] | 253-270-0600

07/25/2023

✨ S O L D ✨

3220 Deer Island Dr E, Lake Tapps, WA 98391

6229 Bock Ave, Sumner, WA 98390

Thank you to our sellers for trusting us to guide them through the home selling process. Working with both these families has been such a joy and privilege. We couldn’t be happier for them and this next chapter!

If you or someone you know is interested in buying, selling or investing in real estate, contact me today:

Kimberly Fraser | [email protected] | 253-270-0600