Well that was more fun than I could ever have imagined! Thanks to you all that joined last night’s holiday festivities at The Rainier Club – the snow certainly add a touch of “magic” to the night! We hope you enjoyed yourself. Yes, I promised many I’d be on the dance floor and yet I didn’t even make it there – oh my! Instead, the conversations I had with you captured my attention. I loved every single minute. Left with a festive full heart.
Ok, let’s take a quick sweep and see if we can’t digest another bite or two before year end…
This week, Inman News published: “8 experts predict what the 2017 housing market has in store” – indeed, the time of year where everyone looks into the crystal ball hoping for clarity. These key takeaways should now sound familiar as we look to 2017 however important to keep top of mind and consider several opinions…
- Mortgage rates are likely to continue to increase throughout 2017. No surprise at this point!
- There will not be any easing in inventory, and affordability will still be a challenge in big markets.
- The potential is there for a large number of first-time buyers to enter the buying market, but they will face new challenges.
Keeping Current Matters (KCM) | Last week I spoke of what Steve Harney is talking about in his macro (national + regional) analysis of the housing market. One slide of particular interest to me is his “Historic Data fro the Mortgage Credit Availability Index.” Good conversation piece for those fearful we are heading into dangerous waters…
…What does this graphic tell us? For people making the argument that we’re back to 2006 and we’re heading in dangerous water – based on this data, no – that is not true. This graph goes back all the way to June 2004. The higher the graph, the easier it was to get a mortgage. The line all the way to the right is getting higher; there’s no question about that. But we’re nowhere near where we were in 2004, 2005 and 2006.
NOTE: Next week, Steve Harney’s December KCM’s Monthly Market Update will launch + I will be sure to include his key year-end takeaways next Friday. Goal, educate our people = you then become the trusted source. Everyone is looking for a crystal ball – we’ll do our part.
The local “science” – thru November 2016
That’s a wrap for this week, back to it next week. Shout if you need anything, here to help. In continued partnership with you + so glad to be…
Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.
…and oh what a fireplace + party that was last night!