April 2022 Market Update for Seattle's Eastside
Here's our perspective on current market conditions and what's likely to happen next:
Mortgage Rates have jumped 1.5% since the beginning of 2022, the largest increase since 1987. A mix of data and history lessons leads us to believe that rates will rise just a bit more before leveling off later this year. And then, as with every recession, rates will go down significantly to stimulate the economy.
Haven't most of us refinanced multiple times in our lifetime? Well, the same will be true for those who buy now and refinance later. Why do that? Well, Real Estate is the best hedge against inflation AND although the pace of home appreciation will slow down, homes will continue to appreciate at a healthy rate.
If you know someone who is renting, please give them the advice of a lifetime and have them reach out to us. Rents are up 18% YOY. We just showed one client how simply investing what she's spending on monthly rent into a home instead would likely lead to $1M in incremental personal wealth in 10 years! Also, the stock market is likely going to be very fickle for the foreseeable future, perhaps you may want to put that wealth into real estate. Or leverage your home equity with a HELOC and double down in real estate?
Whether you are buying, selling, or just want to talk Real Estate,
we are your Trusted Friends in Real Estate to Help You Win!
Cheers!
Matt & Christina
Matt & Christina are Team Skally, top real estate agents in the Seattle Metro with expertise in luxury homes on the Eastside including Bellevue, Newcastle, Mercer Island, Renton and Issaquah. Their client testimonials say it all - they deliver exceptional service and record-breaking results. Recognized as top agents on social media by Property Sparks, Diamond Award finalists for best client service and regularly featured in online and print publications including Newcastle Life Magazine. In addition to serving clients, Matt and Christina love family time with their two boys and Leo, the Goldendoodle, as well as volunteering in the community.