Seattle is a dynamic city with a robust real estate market that attracts many investors looking to buy or sell properties. If you are considering investing in real estate in Seattle, it is important to obtain a professional investment appraisal to ensure that you make an informed decision and maximize your return on investment.
Probate appraisals are necessary when an estate must go through the probate process. Probate is the legal process by which a deceased person's estate is distributed to their heirs or beneficiaries. The probate process can be complex, and it involves several steps, including the appraisal of the deceased person's assets, including real estate.
Divorce can be a difficult and emotional time, especially when it comes to dividing assets. One of the most significant assets that may need to be divided during a divorce is real estate property. If you are going through a divorce in King County and need to have your property appraised for the purposes of asset division, here are some things to keep in mind.
When appraising property in Tacoma, the location of the property is one of the most important factors to consider. Properties located near the Puget Sound or with views of Mount Rainier tend to be highly desirable and may command higher prices. In addition, properties located near major transportation routes, such as I-5 or the Tacoma Narrows Bridge, may also be more valuable due to their convenient location.
The average long-term mortgage rate fell for the fourth consecutive week and have dropped more than three-quarters of a point since hitting a 20-year high last month.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate dipped to 6.33% from 6.49% last week. A year ago the average rate was 3.1%.
The average long-term rate sat at 7.08% in early November, but has since had the steepest 4-week decline since 2008.
“While the decline in rates has been large, homebuyer sentiment remains low with no major positive reaction in purchase demand to these lower rates,” said Sam Khater, Freddie Mac’s chief economist.
Mortgage rates are still more than double what they were a year ago, mirroring a sharp rise in the yield on the 10-year Treasury note. The yield is influenced by a variety of factors, including global demand for US Treasurys and investor expectations for future inflation, which heighten the prospect of rising interest rates overall.
Mortgage rates fall for fourth straight week ahead of Fed meeting© Provided by New York Post
The average long-term rate sat at 7.08% in early November, but has since had the steepest 4-week decline since 2008.AP see also
Mortgage rates fall for fourth straight week ahead of Fed meeting© Provided by New York Post
Mortgage rates fall ahead of upcoming inflation report
Here’s why US homes were pulled off market at a record pace last month
The Federal Reserve, which has been hiking its short-term lending rate since March in a bid to crush the highest inflation in decades, raised its rate again early this month by 0.75 percentage points, three times its usual margin, for a fourth time this year. Its key rate now stands in a range of 3.75% to 4%.
Markets rallied last week after Fed Cair Jerome Powell signaled that the Fed may increase its key interest rate by just a half-point at its December meeting next week. Rate increases could then fall to a more traditional quarter-point size at its February and March meetings, based on previous Fed forecasts. Powell said the Fed will likely have to keep rates elevated for longer than originally planned, as inflation has eased somewhat but remains way above the central bank’s 2% target.
The sharp rise in mortgage rates this year, combined with still-climbing home prices, have added hundreds of dollars to monthly home loan payments relative to last year, when the average rate on a 30-year mortgage barely got up above 3% much of the time.
That’s created a significant affordability hurdle for many would-be homebuyers, spurring this year’s housing market downturn. Sales of previously occupied homes fell for the ninth consecutive month in October, hitting the slowest pre-pandemic annual sales pace in more than 10 years.
The rate for a 15-year mortgage, popular with those refinancing their homes, slipped to 5.67% from 5.76% last week. It was 2.38% one year ago.
