SPRING IS BRINGING NEW GROWTH March marks the beginning of an eight-month prime time real estate market in the Pacific Northwest. • Currently: approximately 3-weeks of supply of inventory in the MLS database; • Freddie Mac reporting an average rate of 3.02% for a 30-year fixed-rate mortgage for the week ending March 4th. Even with interest rates beginning to grow, the market is showing signs of still being incredibly hot. Make sure you’re in the right hands by contacting me today to make for a successful spring season. 1215 Regents Blvd Suite 1A Fircrest, WA 98466 hawkinspoe.com
If one of the questions you’re asking yourself is, “Should I sell my house this year?” consumer sentiment about selling today should boost your confidence in the right direction. Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why.
According to the latest Home Purchase Sentiment Index from Fannie Mae, 57% of consumer respondents to their survey indicate now is a good time to buy a home, while 59% feel it’s a good time to sell one:
“The percentage of respondents who say it is a good time to sell a home remained the same at 59%, while the percentage who say it’s a bad time to sell decreased from 35% to 33%. As a result, the net share of those who say it is a good time to sell increased 2 percentage points month over month.”
As you can see, many still believe that, despite everything going on in the world, it is still a good time to sell a house.
Why is now a good time to sell?
There simply are not enough homes available to meet today’s buyer demand, and they’re selling just as quickly as they’re coming to the market. According to the National Association of Realtors (NAR), unsold inventory available today sits at a 2.3-month supply at the current sales pace, which is down from a 2.5-month supply from the previous month. This record-low inventory is not even half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory to balance out.
With so few homes available for buyers to choose from, we’re in a true sellers’ market. Homeowners ready to make a move right now have the opportunity to negotiate the best possible contracts with buyers who are feeling the pull of intense competition when it comes to finding their dream home. Lawrence Yun, Chief Economist for NAR, notes how quickly homes are selling right now, further confirming the benefits to sellers this season:
“The market is incredibly swift this winter with the listed homes going under contract on average at less than a month due to a backlog of buyers wanting to take advantage of record-low mortgage rates.”
However, this sweet spot for sellers won’t last forever. As more homes are listed this year, this tip toward sellers may start to wane. According to Danielle Hale, Chief Economist at realtor.com, more choices for buyers are on the not-too-distant horizon:
“The bright spot for buyers is that more homes are likely to become available in the last six months of 2021. That should give folks more options to choose from and take away some of their urgency. With a larger selection, buyers may not be forced to make a decision in mere hours and will have more time to make up their minds.”
If you’re ready to make a move, you can feel good about the current sentiment in the market and the advantageous conditions for today’s sellers. Contact a local real estate professional today to determine the best next step when it comes to selling your house this year.
It’s the device every home should have but hopefully should never have to use: a fire extinguisher is an important home safety device, and no fire safety plan is complete without one. When you go to the hardware store to purchase your fire extinguisher, you’ll find a variety of extinguishers designed to deal with different situations. Knowing what you’ll encounter will help you determine what types are best for your home.
Top of the Class
Fire extinguishers are sorted into classes based on the type of fire they’re designed to extinguish, and each class uses a different type of agent to extinguish the fire. Here are the classes you can expect to see:
Class A is designed for fires involving wood, paper, or plastics. If your favorite scented candle fell onto the book you’d just put down, you’ll need Class A.
Class B is for oils, gasoline, or propane. You’ll want this type of extinguisher for grease fires in the kitchen or for most fires around the garage.
Class C is for electrical fires. If your home has older wiring or if you’re having electrical work done on your home, get a Class C fire extinguisher.
You may also see Class K fire extinguishers, which are designed especially for professional kitchens and can cope with big grease fires.
Several manufacturers make fire extinguishers for multiple types of fires and may have A-B-C on their labels to indicate this. If you see a number before the A or B, this shows how effective the extinguisher is against each type of fire. Higher numbers mean greater effectiveness against that type of fire.
Size matters when it comes to fire extinguishers. Fire extinguishers range from 2 to 10 pounds, and more isn’t always better. You want a device large enough to be effective but small enough to store conveniently nearby. You may want a few extinguishers in different sizes depending on how much time you spend in an area and the number of combustible items in that area. You may need a bigger device in the garage, whereas a mid-sized one would be better in the kitchen to deal with sudden grease fires.
This Is A Drill
Familiarize yourself with how your fire extinguishers work before you use them. Most will use the P.A.S.S. method: Pull the pin, Aim the nozzle at the base of the fire, Squeeze the handle at the top of the extinguisher, and Sweep the device side to side. Keep your fire extinguishers in a place where you can access them easily, and remind yourself of their location several times a year. A good time to remind yourself is when you check your smoke alarm batteries or test a hard-wired smoke alarm system for a more complete fire safety check.
A fire extinguisher is a pressurized device, and nothing can maintain pressure forever. If your extinguisher has been used or is more than a few years old, your local fire department can direct you where you can have it recharged. Fire extinguishers can also corrode or be damaged otherwise. If this happens, replace the device quickly.
While improvised remedies can extinguish some house fires, without a tested and certified way to get fires under control, you could inadvertently turn a small home accident into a serious emergency. Of course, fire extinguishers are not meant to suppress large fires, and if you’re unsure, the safest thing to do is exit your house. But obtaining and maintaining the right fire extinguishers will still help keep your home and your family safe.