King County Million-Dollar Home Sales Rise in 2017

The Northwest Multiple Listing Service (NWMLS) recently released their year-end report, and it reveals that more King County homebuyers purchased million-dollar homes in 2017 than ever before. Though 2016 set a new benchmark for the time with almost 2,900 homes sold for over $1 million, 2017 numbers increased 71% year-over-year to nearly 5,000.

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Lenders Could Start Using Different Credit Scores to Issue Mortgages

As a recent article published in The Wall Street Journal outlines, "banks and rival lenders are butting heads over the credit scores used to decide millions of mortgage requests by U.S. home buyers." This has pushed the Federal Housing Finance Agency (FHFA) to consider whether to permit nonbank lenders to utilize options other than the widely used FICO scores, generated by the Fair Isaac Corp., to approve borrowers for mortgage loans. 

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Dean Jones
2018 Housing Market Trends

We are just days from the start of the New Year, which makes it an excellent time to look ahead to what to expect in real estate as we move into 2018. As a recent US News article outlines, “homebuyers will still face headwinds, sellers remain in the sweet spot and renters may see more incentives and negotiating power.” Here are a few factors to keep in mind as you consider making your next move.

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