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Jamie Penrod
&
Matt Llewellyn

Renaissance Real Estate, LLC
jamielpenrod@gmail.com
matt@renaissance-re.com
18302 45th ST E,
Lake Tapps, WA 98391
206-697-3640/206-290-2204

 

 

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Renaissance Real Estate, LLC
A New Beginning

Download our easy to use Home Search App @ http://hms.pt/Vrfx

Meet our Office!

Tara Weed~ Linsey Collier & Kevin Austin~Rebekah Stoltenberg~Angela Simons~Elise Hughes~Sherry Bloomstroom~April Moore~Tami Potts
 

Jamie Sweetser, Transaction Coordinator
 


We set the highest standard for meeting and exceeding our clients' expectations, and we always look for ways to further improve the client relationship. We provide expert, market-current, customized information that is tailored to each and every client's individual and specific needs. 

We take pride in educating our clients, allowing them to make informed decision that are good for them. We are focused on the outcome that is best for all involved, rather than the outcome that benefits us the most. 

We are expert negotiators. If there is a deal to be done, we get it done. We exhaust all options to get a property purchased or sold for our clients. We believe that deals are created, not found, or simply happen to come by. 

We are problem solvers and will work hard for you. We go the extra mile for our clients in and out of the scope of the real estate transaction. We are here to help - we are completely honest and transparent in our communication. We are not afraid of the "hard" conversations, and keep you informed along the way—checking in with you each week until your objective is met. 

We believe a person's reputation is not something that you have to say you have, but something others tell you about. Check out our reviews in the reviews tab. Allow US the opportunity in finding you your dream home!

For more reviews check out our Zillow page at: https://www.zillow.com/profile/jamiepenrod/


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Real Estate News!!!

Latest Realty News from NAR

November 2018 Housing Affordability Index

At the national level, housing affordability is down from last month and down from a year ago. Mortgage rates rose to 4.99 percent this November, up 19.1 percent compared to 4.19 percent a year ago.

  • Housing affordability declined from a year ago in November moving the index down 10.6 percent from 161.0 to 144.0. The median sales price for a single family home sold in November in the US was $260,500 up 5.0 percent from a year ago.
  • Nationally, mortgage rates were up 80 basis point from one year ago (one percentage point equals 100 basis points).
  • The payment as a percentage of income was up from last month at 17.4 percent this November and up from 15.5 percent from a year ago. Regionally, the West has the highest payment at 23.8 percent of income. The Northeast had the second highest payment at 17.1 percent followed by the South at 16.8 percent. The Midwest had the lowest payment as a percentage of income at 13.7 percent.

  • Regionally, the Northeast recorded the biggest increase in home prices at 8.2 percent. The South had an increase of 3.8 percent while the West had a gain of 2.4 percent. The Midwest had the smallest growth in price of 1.6 percent.
  • Regionally, all four regions saw a decline in affordability from a year ago. The Northeast had the biggest drop in affordability of 14.4 percent. The South had a decline of 9.3 percent followed by the Midwest that fell 9.2 percent. The West had the smallest drop of 7.2 percent.
  • On a monthly basis, affordability is down from last month in all of the four regions. The Northeast region had the decline of 5.5 percent. The South had a decline of 2.0 percent followed by the Midwest with a dip of 1.8 percent. The West had the smallest dip in affordability of 0.7 percent.
  • Despite month-to-month changes, the most affordable region was the Midwest, with an index value of 181.9. The least affordable region remained the West where the index was 105.0. For comparison, the index was 148.8 in the South, and 146.4 in the Northeast.

  • Mortgage applications are currently up while credit availability is down. Rates are higher this month but are still historically low. Home prices are up 5.0 percent while median family incomes that are growing 3.0 percent. The job market is steady. More inventory is welcome on the lower end of the market whereas there is more supply of inventory for high priced homes.
  • What does housing affordability look like in your market? View the full data release here.
  • The Housing Affordability Index calculation assumes a 20 percent down payment and a 25 percent qualifying ratio (principal and interest payment to income). See further details on the methodology and assumptions behind the calculation here.

Throwback Thursday: First-Time Homebuyers Then and Now

In 1981 when NAR first started tracking the data, the average age of a first-time homebuyer was 29.  They made up 44 percent of all homebuyers.  Sixty-eight percent of first-time buyers were married couples, 12 percent were single female and 13 percent were single male (seven percent were other).

In contrast, in 2018, the average age of a first-time homebuyer was 46 and they accounted for 33 percent of all homebuyers.  Fifty-four percent were married couples, 18 percent were single female, 10 percent were single male, and 16 percent were unmarried couples (two percent were other).

In 1989, first-time buyers largely rented an apartment before they bought their home at 80 percent, and 15 percent lived with parents, relatives, or friends.  In 2018, the share of first-time buyers that lived in an apartment before they bought their home slipped to 71 percent while the share of those that had been living with parents, relatives, or friends previous to buying rose to 23 percent.

Planning to Buy a Home in 2019?

Mortgage rates are starting off 2019 at very good levels. In fact, mortgage rates declined, starting the new year with the 30-year fixed rate mortgage dipping to 4.5 percent last week from 5 percent a month ago, according to mortgage finance provider Freddie Mac[1]. After a year of gradual increases, mortgage rates are declining. Stock market volatility, global trade worries and the government shutdown are pushing rates down to their lowest levels since August.

But how do mortgage rates affect homebuyers? Fixed-rate mortgages are amortized over the life of the loan. That means that at the beginning of the loan term, most of the mortgage payment goes toward paying off interest. Over time, a larger percentage of the monthly payment is applied to the loan’s principal balance. Thus, when interest rates are low, homeownership is more affordable. If less is spent on interest, homebuyers may be able to afford a larger loan. However, higher rates increase the long-term cost of owning a house.

NAR calculated the monthly payment based on the mortgage rate in the first week of January (4.5 percent) and the rate (5.0 percent) that was previously expected. Nationwide, it is estimated that the monthly payment at 4.5 percent rate is $1,208, while a higher rate of 5.0 percent increases the monthly payments by $72 to $1,280.

The effect of the mortgage rates varies from location to location. In high-end areas, homebuyers are expected to benefit more from lower rates than homebuyers in other areas. For instance, in the San Jose-Sunnyvale-Santa Clara, CA metro area, comparing the monthly payment at 4.5 percent and 5 percent rates, homebuyers pay $353 less every month for their payment at a 4.5 percent rate. However, at the low-end areas, in Youngstown-Warren-Boardman, OH-PA, the monthly payment at 4.5 percent rate is $26 less compared to the payment at 5 percent rate.

The visualization below allows you to see how much the monthly payment changes at 4.5 and 5.0 percent rates for 178 metro areas:

We also calculated the monthly mortgage payment for 3,119 counties and county-equivalents in the United States. Please visit the following web page to see the monthly mortgage payment at the county level.

Thus, homebuyers can still benefit from lower rates. Although the average rate on the 30-year fixed rate sat just below 4 percent for a year in 2016, homebuyers should bear in mind that, back in 1982, the rate was over 17 percent for more than a year. Moreover, historically[2], the average mortgage rate is 8 percent. Therefore, rates are still historically low. Looking ahead, NAR is forecasting the 30-year fixed rate mortgage to average 4.9 percent for 2019 and 5.2 percent for 2020, respectively.

See below how the 30-year fixed mortgage rate has been trending since 1971:


[1] Primary Mortgage Market Survey, Freddie Mac.

[2] Between 1971 and 2019.

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Testimonials Page

"Matt and Jamie were awesome! We were first time home buyers and gave us a great amount of information about the houses we visited. Matt did really well in pointing out different things in a house we did not see for ourselves. It was great working with someone experienced in the field because sometimes it got overwhelming. Both Jamie and Matt were very responsive in texts, emails, and phone calls. They always kept us up to date with the process of buying our first home. Would definitely recommend these two!" Chris V. ~ October 2018
Matt and Jamie were great to work with. They were responsive and quick to help with any need. They were informative about the process and what was happening at every stage. They provided referrals for different folk to get the house ready to show and promptly gave me any feedback received. While it was hard to leave a house I loved, they made the process itself easy. Thanks, Matt and Jamie Janet H. Sept 2018
What can I say about Matt and Jamie??? They are the ABSOLUTE BEST IN THE BUSINESS!!!! These fine outstanding people worked beyond the norms of a regular realtor, they became family for my wife and I. They stood by us in our picky phase and never would let us settle for anything other than perfect for us . They became more than just our realtors, they became life long friends and family !! John W.~ May 2018
Matt and Jamie were wonderful through every step of our home sale. The circumstances were difficult for our family due to the nature of selling my parents’ home when my father had recently passed away, but Matt and Jamie were kind, patient, knowledgeable, and supportive throughout the entire process. We would highly recommend them to anyone. Christine S~ June 2018
Great team! Very knowledgeable about the market and community. Excellent communication and incredibly accessible/ timely with responses. Professional and sincere with an appreciable balance of understanding our needs and assertiveness on our behalf. They will get it done! We highly recommend!!! Lucas H.~ June 2018
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