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The volatility surrounding the 2020 presidential election helped push mortgage rates to their 13th record low this year, giving both homeowners and buyers a boost. "The average 30-year mortgage interest rate fell to 2.72%, an all-time record low. Some 19.4 million homeowners are now in a position to save an...
Wondering what's happening with the Seattle's Real Estate market? Check out InBestments' latest blog for detailed analysis.
SEATTLE (August 22, 2019) — InBestments CEO, Vinod Sharma, had the opportunity to have a brief chat with Bob Goldberg, CEO of the National Association of REALTORS® at the second annual #iOiSummit in Seattle. iOi stands for Innovation, Opportunity & Investment. This summit brought together 500+ real estate technology minds, investors and REALTOR® members to collaborate, network, and lead change. These two days provided...
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After half a decade of planning, changes to laws governing accessory dwelling units (ADUs) and detached accessory dwelling units (DADUs) were passed by the Seattle City Council. Even though ADUs have been allowed since 1994, only 1.61% of 135,000 lots in single-family zones have an ADU owing to numerous cumbersome rules and regulations. We think this legislation is a step in the right direction....
New conforming loan limits increased for 2021.
The Federal Housing Finance Agency announced new conforming loan limits for Fannie Mae and Freddie Mac for 2021. The new limit for single-family residential properties is $548,250, which is up nearly 7.5% from 2020’s limit of $510,400 and marks the fifth consecutive year of increases. All counties in Washington states have increased to the new...
What is PITI⁉
Last month saw the largest monthly number of new listings since May 2019. However, supply is extremely anemic at just 1.04 months of supply. Buyer demand continues to be incredibly strong💪 with multiple bids becoming a norm. ⚖️The supply/demand imbalance is causing prices to accelerate. 📈Median home price...
What is no cash-out refinance⁉
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