August, 2023

Welcome August! First off, my heart goes out to Maui and the devastation the wildfires have caused. I pray for the families grieving and a community looking to rebuild. May we all help in some way. It's one hot summer and still going! I hope you are well and staying cool during the heat wave. The real estate market certainly isn't as hot as it was last summer, but it's been moving! Low inventory with high interest rates provides for opportunities on both sides. I'm still seeing multiple offer scenarios in our core areas from Seattle to the Eastside. Especially for homes that are "turn key", staged well, remodeled in some way and move in ready. For homes that don't sell on their 1st weekend, average days on the market for King County is 21 days. This provides negotiating power on the buyer's side. Certainly, sellers' need to have a good listing strategy knowing where the market is today. In a nutshell, homes are still selling with buyers having less competition in some areas. If you're looking for "Off Market Homes", message me as I currently have access to 11 homes in Kirkland, 3 in Sammamish and 1 in Lynnwood. Enjoy the summer and be sure to read up on current stats and my family adventures below :)

Show me the money! Interest Rate Updates Another week and another .25- basis point increase by the federal reserve to the short-term lending rates. Rates do remain elevated currently and are still up today as well and the 10-year bond yield is currently at 3.965%. this is still near the highs. With the last fed increase the benchmark rate was at 5.50% and is at the same level as they were in 2001! That should put things into perspective. Unfortunately, the federal reserve has indicated they will not cut rates this year until they have the core inflation rate closer to 2% and is still well above 3%. They will monitor the economic data and will be addressed case by case moving forward. I believe this is accurate unless there is an event that causes things to change more rapidly. Like additional bank failures or the commercial real estate market starts to show signs of causing systemic financial issues. Economists are 50/50 on whether the feds can stick a soft landing, or if we will go into a recession. A recession would be good for rates and would force the feds to cut at a more rapid pace once we reach that point. Buckle up and we are all in for a ride! The federal reserve has a history of sticking soft landings at 0%, based on history. This would be the first time in history if they can orchestrate a soft landing! Lol, real estate inventory in our region is still at record lows and causing prices to hold as current owners with 3% rate are hesitant to sell. That is all I have for now and current rates listed below. Interest Rate Update 8/9/23 Jumbo portfolio rates today and posted closest to par. Portfolio rates can be used on conventional loan amounts. Jumbo loan rate 30 year fixed rate was at 6.625% APR 6.689% 10/6 fixed rate was at 6.500% APR 6.567% 7/6 fixed rate was at 6.375% APR 6.387% Conventional loan rate 30 year fixed rate today was at 6.99% APR 7.02% VA loan rate 30 year fixed rate was at 6.500% APR 6.521% *Rates shown are for purchase loans only and is subject to change without notice. For other loan options, I'm happy to refer you to a trusted lender where the shared information above is from* Hanging loose with the family! Aspuria Family Update Family life has been busy. Lainey is 10 months old and such a strong baby pulling herself up on the crib and almost crawling on her hands and knees. Ruby has been living it up with tons of her friends' birthdays and time with cousins during my wife's family annual camping trip at Flowing Lake Park in Snohomish. This park feels like your away from everything when you camp overnight yet it's so close to get to! Definitely recommend checking out, especially with the lake access and swimming for all ages. Summer living! Real Estate in the News

Kenny G’s Former Seattle Megamansion Now Asking $70 Million This unrivaled 4.3-acre legacy estate on Lake Washington resides in one the most sought-after waterfront communities in the world. Commanding 327 ft of shoreline, a remarkable dock is ready for all waterfront passions. Listed by Compass agent, Tere Foster, this estate once held the spot for Washington state’s most-expensive listing. Mansion Global

Word Around the Block

The 38 Essential Restaurants in Seattle “Where should I eat in Seattle?” This curated list of suggestions attempts to capture the diversity of the food scene in the Seattle metro area, from tamale walk-up windows to 12-seat fine dining Filipino destinations, from classic French cafes to modern sushi bars, and so much more. Every place on the list has been open for at least six months or so, proving its merit. Eater Seattle

30 Amazing Things To Do This August In Seattle From Seafair festivities to free outdoor movies and bustling weekend markets, August 2023 is going to be a memorable one in Seattle. Summer in Seattle is beyond beautiful, so take full advantage of the stunning outdoors, delicious local cuisine, and numerous activities happening during August! Secret Seattle

Tips & Tricks Modern Living Room Ideas That Are So 2023 The term modern can mean so many things, incorporating anything from minimal to midcentury, natty to neutral and chrome to concrete. Elle Decor has combed through their favorite living rooms to find the sleek spaces that push modernity into its furthest reach. Elle Decor Featured Team Listings

3796 201st Place Southeast 5 BD 5 BA 3770 SF $2,100,000 1012 109th Avenue Southeast 3 BD 3 BA 2120 SF $1,398,000

Jesse Aspuria Broker M: 425.780.9291 jesse.aspuria@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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