NexTitle Puyallup

A recent article for Barrons by Shaina Mishkin shed some early light on the spring real estate season. While typical seasonality patterns suggest that real estate activity will increase over the coming weeks - and early data aligned with this assumption - recent rises in mortgage rates had a cooling effect on activity.

While many recent metrics signaled a returning strength to the housing market, including increased homebuilder confidence and slowing drops to seasonally adjusted home sales, increases to mortgage rates due to a strong job market and stickier inflation rates tempered this activity back down to levels we've seen coming out of the pandemic boom times.

The relative heat of the upcoming spring and summer selling seasons will clearly be highly dependent on what mortgage rates do in the short term. If rates drop as they have in the recent past, expect the market to heat up significantly. On the other hand, any increases in rates will continue to pour cold water onto whatever seasonal gains we'd normally expect.

Learn more at: https://bit.ly/41sYQkw

Happy Friday, everyone! We made it to the end of the week! 🎉 Let's celebrate with a fun fact: did you know that on this day in 1868, the first Mardi Gras parade with floats in the United States was held in New Orleans? 🎭 Speaking of celebrations, what are your plans for the weekend? Share your weekend plans in the comments below!

Escrow Tip of the Day:

Are you looking to sell your home to finance your next home purchase? As a home seller, you will typically be responsible for paying for the buyer's title insurance policy, and half of the escrow fees. Be sure to factor these costs into your budget when planning your home sale.

At NexTitle, we work with you to ensure a smooth and efficient escrow process. Our best in the industry team of experts will guide you through the process and provide you with all of the information you need to help make your home sale a successful, smooth process. Contact us today to learn more!

mNew data from digital home lending provider Knock has highlighted the best real estate markets for home buyers and home sellers in 2023. Many markets across the Pacific Northwest, where market conditions recently strongly favored sellers, are already realizing shifts towards more buyer-friendly market conditions. For a full list of the top 100 markets, visit: https://bit.ly/3XO6ItI

NexTitle 1031 Exchange Webinar--Register today!

Option 1: Feb. 22nd at 10:00am PST
38313748-421d-4ac4-8120-96355361fbd0@4c9d65a3-aeda-4e86-85f1-70a5f685a22d" rel="ugc" target="_blank">https://events.teams.microsoft.com/event/38313748-421d-4ac4-8120-96355361fbd0@4c9d65a3-aeda-4e86-85f1-70a5f685a22d

Option 2: Feb. 23rd at 2:30pm
c5ad516d-5a95-4b86-ae85-7805b7205f64@4c9d65a3-aeda-4e86-85f1-70a5f685a22d" rel="ugc" target="_blank">https://events.teams.microsoft.com/event/c5ad516d-5a95-4b86-ae85-7805b7205f64@4c9d65a3-aeda-4e86-85f1-70a5f685a22d

Happy National Random Act of Kindness Day everyone! Today is the perfect opportunity to spread some joy and positivity in the world by doing something kind for someone else. Whether it's paying for someone's coffee in line behind you, writing a thoughtful note to a friend, or simply smiling at a stranger, every small act of kindness has the power to make a big impact. Let's celebrate this day by being kind to one another, and let's keep the kindness going every day!

Title and Escrow Tip of the Day: It's important to understand the difference between a title search and title insurance.

A title search is a thorough examination of public records to ensure that the property is free of liens, encumbrances, or other issues that could affect ownership.

Title insurance provides protection against any defects in the title that were not discovered during the search.

Both services are important in a real estate transaction and can help protect your investment.

As your trusted title and escrow company, we're here to help. Visit www.NexTitle.com to learn more.

No matter if you are watching for the game, for the ads, or for Rihanna, we here at Nextitle want to know - what is your go-to Super Bowl party food? Bonus points for an original recipe!

Escrow Tip of the Day!

Don't know who has the authority to sign your closing documents? Ask the pros! Your title agent is an expert in the wide range of different entities who can potentially act as a signer, from trusts, to partnerships, to custodians.

Contact our industry leading title professionals today at: www.NexTitle.com

Real Estate Market Update: According to a recent article on Realtor.com, the continuing decline in mortgage rates has opened a homebuying window for buyers that may benefit shoppers looking to save on their first or next home purchase.

Lower rates have lowered the cost to purchase a home, which combined with high inventory signals an opportunity for home shoppers to take their time with their purchase - which is a far cry from market conditions just a year ago.

If you're looking to take advantage of these more favorable market conditions, know that you can rely on NexTitle to protect you and your dream home with the best title and escrow service in the industry. Visit www.NexTitle.com today to learn more.

Hey there! As your trusted title and escrow company, we understand the importance of a smooth and stress-free closing process 💼 As we head into the weekend, what are your go to stress reduction techniques? Share your best tips in the comments below 👇

ChatGPT has certainly been the talk of the real estate world lately!

After making waves in the world of academia, real estate professionals have discovered the unique capabilities of the viral Artificial Intelligence tool and it's unique ability to create human like written communication.

According to an article from Business Insider, Realtors have begun to use ChatGPT to craft home listing descriptions. Working with a few details, ChatGPT has the ability to craft professional sounding listing descriptions within seconds.

Have you utilized ChatGPT in your work? If so, what has your experience been like?

You are invited! Join us for some exciting training. Two sessions available for your convenience:

>Session 1: Tuesday 2/7, 10:am PST
https://us06web.zoom.us/meeting/register/tZcrcOGqqjwvG9y8hhHkPZ0EgIPbK-LFM_SB

>Session 2: Thursday 2/9, 2:30pm PST
https://us06web.zoom.us/meeting/register/tZ0od--grDwvGNZjUOE897GYkJooTSpKD9xT

New data from the Mortgage Bankers Association shows that mortgage application volume jumped nearly 28 percent week over week, as mortgage rates have dropped to their lowest level since September.

Since their peak around 7.2% in October of 2022, rates have slowly dropped to their current level of 6.23%.

Mike Fratantoni, senior vice president and chief economist at the Mortgage Bankeres Association had this to say about the recent uptick in demand: "As we enter the beginning of the spring buying season, lower mortgage rates and more homes on the market will help affordability for first-time homebuyers.”

As the housing market begins to reheat after a cold winter, know that you can rely on NexTitle to protect your listing with the best service in the industry. Learn more today at: www.NexTitle.com

Today is National Coffee Break Day! Consider this your sign to take a well earned break and enjoy coffee prepared just the way you like it!

What is your go-to coffee order? ☕️

Congratulations to our very own Jen Jones for her recent 9 year work anniversary! We are so thankful we get to work with Jen every day - she is truly one of the best in the business. Congratulations Jen!

Title and Escrow Tip of the Week!

Beware of increased fraud on vacant lands:

· Fraudsters tend to target vacant land that is free and clear.

· Often the proposed sale price is below market and the fraudster may push for a quick close and a cash transaction.

· The seller may represent that they live out of state and has a notary in that state to notarize the deed.

· The seller may communicated exclusively by text or email.

BEST PRACTICES TO AVOID FRAUD IN THIS MANNER:

· Consider sending a thank you or welcome letter sent by regular mail directly to the address shown for the seller in the county records

· If no response is received to the letter, consider obtaining contact information for the seller independently and contacting them using that method to confirm the intent to sell

For more information, visit www.NexTitle.com

Did you know that statistics show that over two thirds of all New Year's resolutions made are abandoned by the end of January?

As we approach week three of 2023, we want to know how you are doing with your resolutions. Have you been sticking to them? If so, what's been your secret?

Escrow Tip of the Day!

Consider making Wednesday your contract closing date, rather than Friday.

Most contract closing dates fall on a Friday, with the middle of the month, and month end being the most popular. If your closing is delayed for any reason, selecting a mid-week close date will provide a cushion that would prevent you from losing the weekend to move.

Today is National Take Down The Christmas Tree Day! (No we're not kidding, it's a real thing)

Be honest - what is the latest into the year you've kept your holiday decorations up? This is a judgement free zone 😂

In a recent article for Housing Wire, Diane Tomb - Chief Executive Officer for the American Land Title Association - outlined many of the ways title insurance benefits the homebuyer and plays an important role in ensuring the transaction process is smooth for buyers and sellers.

According to Diane: "In every county across America, title professionals are working diligently to protect most Americans’ greatest investment - their home. Title insurance is - and will always be - essential."

We couldn't agree more! We love that our work gets to protect our neighbors and help ensure their home is all theirs. We're proud to serve our community with the best service in title and escrow.

Read Diane's article at: https://bit.ly/3Z0otbn and visit us today at: www.NexTitle.com

New Home Sales Rise 5.8% from Prior Month in November

Newly released data from Realtor.com highlights a rebounding new construction homes market. Falling mortgage rates, declining lumber prices, and aggressive specials from builders have combined to give the once flagging new construction homes market new life.

The seasonally adjusted annual pace of 640,000 new homes sales was a 5.8% increase over October's figure. This number has been bolstered by the upper end of the market, with buyers of homes priced above $400,000 making up 62% of new home sales.

As the market continues to rebound, know that you can trust NexTitle to keep your sale safe and secure with the most professional service in title and escrow. Contact our team today at: www.NexTitle.com

The average long-term mortgage rate declined for the sixth straight week, according to a recent article from the Associated Press.

Rates have fallen nearly a full percentage point from their peak value of 7.08% in late October, even as the Federal Reserve has continued to raise it's rate.

Falling mortgage rates signal some relief for potential homebuyers amidst otherwise tough housing market conditions.

When you find your dream home, know that you can rely on NexTitle to protect your transaction. We specialize in Helping You Write Your Story through industry leading title and escrow support. For more information, visit www.NexTitle.com

With 2023 right around the corner, it's time to look ahead and predict what is in store in the real estate market in the new year.

In a recent article in Forbes looking ahead to the 2023 housing market, Nick Bailey, president and CEO of RE/MAX, LLC had this to say:

"I’m optimistic that 2023’s spring selling season will be a bright spot as levels of inflation get more under control. There will still be extreme demand as new construction just can’t get out of the ground fast enough, and the Millennial home buyers, who make up a huge demographic, are primed to make their move."

With so many uncertainties in the market, know that you can rely on NexTitle to handle your transactions with professionalism and expertise. Contact us today to learn more.

Happy Holidays from our NexTitle family to yours!
Just a reminder, we will be CLOSED Monday 12/26/2022 for Christmas, and Monday, 1/2/2023 for New Years.

A recent article on HousingWire.com discussed the recent federal funds rate hike by the Federal Reserve, and it's impact on mortgage rates.

From the article, the slower than expected inflation growth and the most recent smaller rate hike from the Fed signals that mortgage rates are likely to begin declining in the near future.

As the housing market rebounds from this recent turbulence, know that you can count on NexTitle to offer rock solid, professional title and escrow services.

New platform allows our clients to send their Earnest Money digitally - anytime, anywhere!

Congrats to Team USA for advancing past the group stage at the World Cup! NexTitle is here to help you when you score your dream home. Contact us today to learn more from the best in Title and Escrow!

New home sales jumped 7.5% in October over September, according to new research highlighted in a recent article from Zillow.

While rising interest rates have cooled the previously red hot housing market, a record number of new homes are currently under construction and are finding their way onto the market.

If you are in the market for a new home, know that NexTitle is here to serve you. We are experts in navigating the title and escrow process for new construction homes. Reach out to us today to learn more! www.NexTitle.com

Thank you for you service. We cannot thank you enough for your strength, bravery and sacrifice for our country.

Did You Know?

Did you know that you can instantly submit a title order with our Account Executive Luke Kress, simply by scanning the QR code on the back of his business card? It's really that easy!