Jacob Fox/Realtor

Jacob Fox- THE PHIPPS TEAM-EXP REALTY

What’s Happening with Home Prices?

Many people have questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? Here’s a look at the answers to all three of these questions.

>>How much have home values appreciated over the last 12 months?
According to the latest Home Price Index from CoreLogic, home values have increased by 18.1% compared to this time last year. Additionally, prices have gone up at an accelerated pace for each of the last eight months. The last year has shown tremendous home price appreciation, which is resulting in a major gain in wealth for homeowners through rising equity.

>>What’s happening with home prices right now?
Indices also show that while appreciation is in the high double digits right now, that price...


(509) 438-0894

What’s Happening with Home Prices? Many people have questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? Here’s a look at the answers to all three of these questions.

Jacob Fox- THE PHIPPS TEAM-EXP REALTY

Two Graphs That Show Why You Shouldn’t Be Upset About 3% Mortgage Rates

With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn’t going away any time soon.

But as a homebuyer, what do rates above 3% really mean?

Buyers don’t want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But it’s important to put today’s average mortgage rate into perspective. Even though today’s rate is above 3%, it’s still incredibly competitive.

But today’s rate isn’t just low when compared to the most recent years. When we look back even further, we can see that today’s rate is truly outstanding by comparison.

Being...


(509) 438-0894

Two Graphs That Show Why You Shouldn’t Be Upset About 3% Mortgage Rates With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn’t going away any time soon.

Jacob Fox- THE PHIPPS TEAM-EXP REALTY

The appraisal and inspection are important steps in the homebuying process. When you buy, avoid the temptation to waive either one. They provide you with information about the home’s value and condition to protect your investment. DM me so we can discuss how you can be prepared for both when the time comes.


(509) 438-0894

Jacob Fox- THE PHIPPS TEAM-EXP REALTY

Does Your House Have What Buyers Want?

The rise in remote work is changing what many Americans want in their homes. Many companies are choosing to delay reopening or go remote full-time, and today’s buyers are looking for homes with more space to support their work needs. As a seller, if you no longer need the extra room you have in your home, rest assured there are buyers who do.

More remote work means a greater need for home offices. That’s leading today’s buyers to prioritize finding homes with more space so they can comfortably work from home. The 2021 Home Design Trends Survey from the American Institute of Architects finds that 69% of surveyed individuals still want at least one office at home. However, it also shows that more people are looking for multiple spaces in their home for remote work and virtual meetings.

If your house has extra space...


(509) 438-0894

Does Your House Have What Buyers Want? The rise in remote work is changing what many Americans want in their homes. Many companies are choosing to delay reopening or go remote full-time, and today’s buyers are looking for homes with more space to support their work needs.