Market Update 8.2 Table talk with Cindi Rice

I’m pleased to welcome back Real Estate Professional Cindi Rice, from the Northwest’s John L Scott/The Madrona Group. Cindi shares more insights and some eye-opening statistics on the state of the industry today, particularly in the state of Washington. From challenges in inventory levels to creative mortgage options including ‘renovation financing’ for fixer-uppers, Cindi offers her perspective and lots of insider tips and best pratices for home buyers today. 

The Homebuyer Hustle podcast is hosted by Cameron D’Avis, a loan originator with 20 years of experience. In each episode, Cameron discusses topics that can help anyone buying a home - from first-timers to seasoned investors. Cameron walks you through the pre-approval process, selection of your first home, things you should avoid, and other important topics from a real estate professional’s perspective. Podcast guests will include industry pros - CPA’s, appraisers, title reps, and home inspectors, sharing their experiences and insights. 

Discussion Points:

• Inventory shortages in the industry
• Buyers are holding their previous homes for rental income
• 35/32/33% - stats for buyers under/at/over asking prices
• Houses going for “under asking” may be overpriced or in a poor neighborhood
• Mortgage options with renovation financing to use at big box stores
• The 30-30-30 rule - 30% of the houses great as is, 30% needs fixing, 30% you’ll have to live with
• Hot vs. cold markets - 76% of homes are selling 
• Getting preapproval before shopping for a home - no surprises in the selling process
• Be prepared to act quickly when you find a home
• Negotiating was easier when it was a buyers market - be realistic and flexible
• Home inspection - never waive it!
• Buy now! “Marry the home… ‘date’ the rate”
• Don’t wait, buy real estate
• Reach out with any questions or comments!

Resources:

Cindi Rice LinkedIn

The Madrona Group 

Cameron D’Avis Profile 

Contact Cameron