Jessica Feller, Real Estate Broker

04/03/2024

The $418 million NAR settlement has led some to speculate that real estate agents are at risk of becoming obsolete.

03/11/2024

SOLD! Recently closed on this adorable little fixer cabin near Black Diamond. Thank you and congratulations to my buyer and friend Sammie Slote and her mom, Donna. They have already started the remodel, can’t wait to see the finished pics!

01/02/2022

Going through drawers and cupboards to make sure you didn't miss anything is a good idea.

Despite months of planning (and stressing), the week before moving day can feel daunting. Consider these tips to alleviate fears & get a jump on your move.

01/01/2022

New year. New beginnings!

12/25/2021

A wish for peace this holiday season.

12/12/2021

Consider these tips to give your living room a new look.

The living room is the heart of any home, space where family and friends gather together and the main area for daytime activities.

08/08/2021

This time, it’s simply a matter of supply and demand.
FOMO (the Fear Of Missing Out) dominated the housing market leading up to the 2006 housing bubble and drove up buyer demand. Back then, housing supply more than kept up as many homeowners put their houses on the market, as evidenced by the over seven months’ supply of existing housing inventory available for sale in 2006. Today, that number is barely two months.
Builders also overbuilt during the bubble but pulled back significantly over the next decade. Sam Khater, VP and Chief Economist, Economic & Housing Research at Freddie Mac, explains that pullback is the major factor in the lack of available inventory today:

“The main driver of the housing shortfall has been the long-term decline in the construction of single-family homes.”

Take a look at the chart that quantifies Khater’s remarks!

Ready to talk strategy in your unique situation? Let's talk: bit.ly/JessicaFeller Office 📲 425.215.1734 Cell 📲 425.750.8305

07/29/2021

During the housing bubble, as prices skyrocketed, people were refinancing their homes and pulling out large sums of cash. As prices began to fall, that caused many to spiral into a negative equity situation (where their mortgage was higher than the value of the house).

Today, homeowners are letting their equity build. Tappable equity is the amount available for homeowners to access before hitting a maximum 80% combined loan-to-value ratio (thus still leaving them with at least 20% equity). In 2006, that number was $4.6 billion. Today, that number stands at over $8 billion.

Yet, the percentage of cash-out refinances (where the homeowner takes out at least 5% more than their original mortgage amount) is half of what it was in 2006. Learn more with me at bit.ly/JessicaFeller

07/22/2021

Back in 2006, nearly everyone could qualify for a loan. The Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers’ Association is an indicator of the availability of mortgage money. The higher the index, the easier it is to obtain a mortgage. The MCAI more than doubled from 2004 (378) to 2006 (869). Today, the index stands at 130. As an example of the difference between today and 2006, let’s look at the volume of mortgages that originated when a buyer had less than a 620 credit score. Dr. Frank Nothaft, Chief Economist for CoreLogic, reiterates this point:
“There are marked differences in today’s run up in prices compared to 2005, which was a bubble fueled by risky loans and lenient underwriting. Today, loans with high-risk features are absent and mortgage underwriting is prudent.”

07/05/2021

Let freedom ring 🇺🇸

06/27/2021

Backyard pools can be polarizing. Many either LOVE the fun of hosting or DO NOT like the maintenance that comes with owning a pool. Where do you stand? Let me know in my comments below!

06/14/2021

Happy Flag Day! Do you fly an American flag at your home? 62% of Americans do. Let me know in my comments below!