Episode #265 - Are There ANY Affordable Homes?!

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)