Lake Hills Real Estate

Lake Hills Real Estate

Neighborhood Entry Signs Lake Hills Real EstateKing County Library Lake Hills Real Estate1955 Ads Lake Hills Real EstateLittle Red Barn Lake Hills Real EstateJust on eof the neighborhood schools Lake Hills Real Estate

BACKGROUND

Lake Hills is a post-50’s mass development planned community, built on a system of winding boulevards and quiet neighborhood streets. A community swim and recreation club, The Samena Club, and the Lake Hills East Bellevue Little League Field are also centrally located. The distinctive Lake Hills entry signs are reminiscent of the 50s-era housing style, and there are still great examples of Mid-Century Modern architecture in the area. The Lake Hills Real Estate market is only going to increase in value!

LAKE HILLS TODAY

Today, Lake Hills is a culturally rich community. It has a multitude of parks, wetlands, open space, trails, shopping, restaurants, schools, and the new Lake Hills Library. Lake Hills is also home to the Lake Hills Greenbelt, including the Lake Hills Farm Fresh Produce Stand (affectionately known as the Little Red Barn) and the Larsen Lake Blueberry Farm.

LAKE HILLS REAL ESTATE

The location, lot sizes, relative affordability, and community assets are making Lake Hills one of the hot real estate markets on the Eastside. Combined with the extremely successful revitalizion of Kelsey Creek Shopping Center and Lake Hills Village, Lake Hills is experiencing construction of many new homes, and rehab and modernization of the 50’s homes. If you want a Mid-Century Modern home at a great price, Lake Hills is your spot!

Lake Hills is situated in a unique location, making the old adage “location, location, location” absolutely true. Easy access to 520, I-90, and 405. Minutes to Microsoft. The Lake Hills Connector road gives nearly instant access to downtown Bellevue.

You need to have the right Realtor for buying and selling Lake Hills Real Estate! A Lake Hills specialist who knows the details, the neighborhood, the schools, and the market. Ted is uniquely qualified to sell your Lake Hills home, or to help you find the perfect new one. When buying, Ted’s first-hand knowledge is invaluable. Ted’s true enthusiasm for Lake Hills is that added boost to successfully marketing your home and getting top dollar! Ted Mansfield is your Lake Hills Real Estate specialist! Interested, contact Ted today!

Lake Hills Real Estate Links:

Posted on November 8, 2018 at 2:02 pm
Ted Mansfield | Category: Buying a home, Community, First Time Buyers, Investment, Move Up Buyers, Real Estate

Don’t Be Spooked by the Real Estate Market!

Starting your journey to buy or sell a home can be scary if you aren’t familiar with everything that needs to happen! That’s why you need a trusted advisor to lead you through the whole process. One that will educate you, help you get the best price for your home or make the best offer, and will lead you through the process with confidence! Let’s get together today!

Posted on November 1, 2018 at 11:11 am
Ted Mansfield | Category: Active listing, Buying a home, First Time Buyers, Investment, Mortgage, Move Up Buyers, Real Estate, Selling your home

Buyer’s Guide to purchasing a home

The newest edition of the Mansfield Group Buyer’s Guide. It’s a handy reference tool that walks one through the steps to buying a house. Includes information on financing & mortgages, the home search itself, as well as info on closing activities. The Buyer’s Guide also includes a Glossary of Buyer’s Real Estate Terms that will help you understand the lingo a little better. Looking or thinking of buying a new home? Give us a call/text/DM on Insta and we can make it happen! Ready to start searching, click HERE.

 

Posted on October 16, 2018 at 9:27 am
Ted Mansfield | Category: Buying a home, First Time Buyers, Mortgage, Move Up Buyers, Real Estate

Mortgage Interest Rates are Still Going Up… Should You Wait to Buy?

Mortgage Interest Rates are Still Going Up… Should You Wait to Buy? |Simplifying The Market

Mortgage interest rates, as reported by Freddie Mac, have increased by close to a quarter of a percent over the last several weeks. Freddie Mac, Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors are all calling for mortgage rates to rise another quarter of a percent by next year.

In addition to the predictions from the four major reporting agencies mentioned above, the Federal Open Market Committee recently voted “unanimously to approve a 1/4 percentage point increase in the primary credit rate to 2.75 percent.” Historically, an increase in the primary credit rate has translated to an overall jump in mortgage interest rates as well.

This has caused some purchasers to lament the fact that they may no longer be able to get a rate below 4%. However, we must realize that current rates are still at historic lows.

Here is a chart showing the average mortgage interest rate over the last several decades:

Mortgage Interest Rates are Still Going Up… Should You Wait to Buy? |Simplifying The Market

Bottom Line

Though you may have missed the lowest mortgage rate ever offered, you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.

Posted on October 14, 2018 at 1:32 pm
Ted Mansfield | Category: Buying a home, Finance, First Time Buyers, Investment, Mortgage, Move Up Buyers, Real Estate

Dispelling the Myth About Home Affordability

Dispelling the Myth About Home Affordability | MyKCM

We have all seen the headlines that report that buying a home is less affordable today than it was at any other time in the last ten years, and those headlines are accurate. But, have you ever wondered why the headlines don’t say the last 25 years, the last 20 years, or even the last 11 years?

The reason is that homes were less affordable 25, 20, or even 11 years ago than they are today.

Obviously, buying a home is more expensive now than during the ten years immediately following one of the worst housing crashes in American history.

Over the past decade, the market was flooded with distressed properties (foreclosures and short sales) that were selling at 10-50% discounts. There were so many distressed properties that the prices of non-distressed properties in the same neighborhoods were lowered and mortgage rates were kept low to help the economy.

Low Prices + Low Mortgage Rates = High Affordability

Prices have since recovered and mortgage rates have increased as the economy has gained strength. This has and will continue to impact housing affordability moving forward.

However, let’s give affordability some historical context. The National Association of Realtors (NAR) issues their Affordability Indexeach month. According to NAR:

“The Monthly Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent monthly price and income data.”

NAR’s current index stands at 138.8. The index had been higher each of the last ten years, peaking at 197 in 2012 (the higher the index the more affordable houses are).

But, the average index between 1990 and 2007 was just 123 and there were no years with an index above 133. That means that homes are more affordable today than at any time during the eighteen years between 1990 and 2007.

Bottom Line

With home prices continuing to appreciate and mortgage rates increasing, home affordability will likely continue to slide. However, this does not mean that buying a house is not an attainable goal in most markets as it is less expensive today than during the eighteen-year stretch immediately preceding the housing bubble and crash.

Posted on October 14, 2018 at 1:28 pm
Ted Mansfield | Category: Buying a home, Finance, First Time Buyers, Investment, Luxury market, Mortgage, Move Up Buyers, Real Estate

Wants vs Needs When Buying a Home – Learning the Difference

One of the first questions that a real estate agent will ask new buyers is, “What do you want in
your new home”? It might seem like an easy question to answer but identifying your “wants’
from your “needs” is an important aspect of home seeking.

Needs
A need is something that is truly essential to how you and your family live. For instance, if you
have a family of four, you truly can’t live in a studio-style apartment; bedrooms become a real
need in house hunting. By contrast, while having an acre of land would be nice, do you truly
have to have that much space in your yard?

Make a List
One way to focus your thought is to create a list of features and amenities that you would like
to have in a new home. Prioritize this list starting with the essential (need) first and work your
way down to the aspects that would be nice to have (want). Remember that you might live in
this home for a number of years, so consider how your family will grow over the next few
years and what needs might change.

Think about elements outside the house itself as well. Do you have school aged children, or
will you? The location of the home might be a need as well. Commute times, recreation and
services must also be included in the list of priorities.

Home hunting is exciting; make sure you include your needs in your search so you don’t get
distracted by a want instead.

Posted on August 1, 2018 at 5:32 am
Ted Mansfield | Category: Buying a home, First Time Buyers, Move Up Buyers, Real Estate

4 Reasons Why Summer Is a Great Time to Buy a Home!

4 Reasons Why Summer Is a Great Time to Buy a Home! | Simplifying The Market

4 Reasons Why Summer Is a Great Time to Buy a Home!

Here are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insights reports that home prices have appreciated by 7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have increased by half a percentage point already in 2018 to around 4.5%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by nearly a full percentage point by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Posted on June 4, 2018 at 10:59 am
Ted Mansfield | Category: Buying a home, First Time Buyers, Investment, Mortgage, Move Up Buyers, Real Estate

What Should You Look for In Your Real Estate Team?

What Should You Look for In Your Real Estate Team? | Simplifying The Market

What Should You Look for In Your Real Estate Team?

How do you select the members of your team who are going to help make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or lender?

The most important characteristic that you should be looking for in your agent is someone who is going to take the time to really educate you on the choices available to you and your ability to buy in today’s market.

As the financial guru Dave Ramsey advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Do your research. Ask your friends and family for recommendations of professionals they’ve worked with in the past and have had good experiences with.

Look for members of your team who will be honest and trustworthy; after all, you will be trusting them to help you make one of the biggest financial decisions of your life.

Whether this is your first or fifth time buying a home, you want to make sure that you have an agent who is going to have the tough conversations with you, not just the easy ones. If your offer isn’t accepted by the seller, or they think that there may be something wrong with the home that you’ve fallen in love with, you would rather know what they think than make a costly mistake.

According to the Home Buyer and Seller Generational Trends Report:

Buyers from all generations primarily wanted their agent’s help to find the right home to purchase. Buyers were also looking for help to negotiate the terms of sale and to help with price negotiations.”Additionally, “Help understanding the purchase process was most beneficial to buyers 37 years and younger at 75 percent.”

Look for someone to invest in your family’s future with you. You want an agent who isn’t focused on the transaction but is instead focused on helping you understand the process while helping you find your dream home.

Bottom Line

In this world of Google searches, where it seems like all the answers are just a mouse-click away, you need an agent who is going to educate you and share the information that you need to know before you even know you need it.

Posted on April 3, 2018 at 9:00 pm
Ted Mansfield | Category: Buying a home, First Time Buyers, Investment, Luxury market, Mortgage, Move Up Buyers, Real Estate, Selling your home

GREEN Homes Introduction

In the next few weeks, I’ll be posting many new features and information about Green Homes that I’ve learned from earning my National Association of Realtor’s GREEN designation.

Whether you want to improve the resale value of your home or are looking for a new, more resource-efficient property, a REALTOR® with NAR’s Green Designation
can help.

NAR Green Designees really know green. While considering updates to your home, I can help you understand the advantages of resource-efficient upgrades to existing homes, interpret the benefits of high performance features, select the best products and professionals, research information on improving resource use, and access a variety of credits, incentives, and programs designed to help you make your home more resource efficient.

Why use a GREEN Designee? (click the link to be taken to the Green Designee website with specialized answers for Buyers, Sellers, or Builders.

Posted on March 28, 2018 at 11:08 am
Ted Mansfield | Category: Buying a home, Green homes, Investment, Move Up Buyers, New Construction, Real Estate, Remodel, Selling your home, Uncategorized

The relation between interest rates and your purchasing power

Hoe does interest affect home buying power?

We all know that higher interest means higher payments. But what does that mean in real world numbers? The following infographic shows just that. A 1 point jump in interest basically means 10% less house when looking at a $700,000 house. The highlighted numbers in the table show what the same payment buys across a range of home prices.

What does it mean to me right now?

As we are foreseeing a slight bump in interest in the next year, you might want to consider making your jump now to get the most house you can.

Posted on February 23, 2018 at 10:52 am
Ted Mansfield | Category: Buying a home, Finance, First Time Buyers, Investment, Mortgage, Move Up Buyers, Real Estate, Uncategorized