With skyrocketing housing prices and mortgage rates notching ever higher, is there any hope for a median-income family to find a place of their own? On this episode of Open House, the answer is a definitive “Ja!”
(Eric is in a particularly Norwegian mood on this broadcast).
Inventory challenges aside, it all comes down to strategy. A grocery clerk won’t find a ‘super market’ for housing in Bellevue – but may discover opportunities ‘stocked’ in cities like Maple Valley, Black Diamond or Buckley - and once invested, equity will clear the path for moving up.
You’ll come away from this podcast learning:
· Workable strategies to advance from starter home to dream home.
· Current analysis on whether interest rates will level off.
· The impact of societal changes on housing expectations.
· Why -despite Reddit-fueled fears- the end of forbearance will not crash the housing market.
· What efforts the government is making to close the housing gap – and how successful it’s likely to be.
· How bureaucratic lending policies tend to hose small investors and work at cross-purposes to housing solutions.
· Why some zero-down lending programs are being suspended – and what it takes to qualify for the ones left.
· Why it’s important to keep your agent apprised of your loan qualifications (and what can happen if you don’t).
Plus, Reba gives a timely rundown of available units 500K and under in King County, and Eric lays out lending options for a home upgrade.
All that - and an impromptu Norwegian lesson –on this episode of Open House with Team Reba.
Håper det smaker! (Bon appetit)