Orcas Island Real Estate MarketReal Estate January 11, 2022


How To Make and Reach Your New Year’s Real Estate Goals

Now that we’ve wrapped the paper and confetti of 2021 and replaced Christmas cookie breakfasts with healthier options, it’s time to start thinking about goals or resolutions for the new year. Whether your goal is healthy food practices, exercising more, learning a new skill, or reaching real estate goals, experts agree a thoughtful approach will significantly increase your odds of hitting the bullseye.

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For those with real estate goals to downsize or upsize, relocate to a dream zip code, begin and or expand an investment portfolio, or buy/build an island dream home, once you decide what to accomplish, nail down your goal by writing it down. According to Mark Murphy, Senior Contributor for FORBES magazine, writing your goals lays the groundwork for your success. “Writing things down happens on two levels: external storage and encoding.”

You’ve encoded your 2022 aspirations; now it’s time to plan for application and action. For inspiration, Nara Lee at Medium offers 5 PROVEN WAYS TO SET GOALS AND ACHIEVE THEM complete with a goal-setting worksheet.

And if your goal for 2022 is an alternative to rising rents, or building wealth through homeownership, you may want to put the below items on your to-do list to ensure you reach the bullseye of Home Sweet Home.

1. SAVE FOR DOWN PAYMENT – Saving for a down payment can be the biggest hurdle for many would-be homeowners, but it can be made more accessible by putting in place an automated monthly savings plan and speaking with a mortgage broker or lender in your area. Depending on your state or region, several types of down payment assistance programs are available. Peter Warden of The Mortgage Reports gives an overview of some of the programs as well as who and where to contact.

2.  WORK ON YOUR CREDIT AND DEBT-TO-INCOME RATIO – Credit score and debt-to-income ratio can impact your future home loan approval and mortgage rate. Monitoring your credit can help you keep track of your spending record, improve your score and address debt. For information on credit scores, debt-to-income ratios, and how they can influence your approval, we suggest you contact one of our savvy local mortgage brokers or the Washington State Office of the Attorney General. Both can offer valuable insight and counsel in assessing your situation and how to take action to improve your financials.

3. WORK WITH A LICENSED, EXPERIENCED, AND LOCAL REAL ESTATE PROFESSIONAL – Connecting with a trusted real estate advisor and adding them to your team will bring valuable expert advice for strategy and how to reach your goals throughout the process.

4. GET PRE-APPROVED – Our local finance professionals can work with you to get you a pre-approval letter. This pre-approval is a way to know how much you can borrow and help you present a strong competitive offer to purchase. For a list of mortgage professionals, reach out to your real estate advisor; our market is such; having a local, knowledgeable mortgage professional can save you much-needed time and frustration.


To quote Melody Beattie, “THE NEW YEAR STANDS BEFORE US, LIKE A CHAPTER IN A BOOK, WAITING TO BE WRITTEN.” We congratulate you on using the new year’s momentum to inspire your new chapter. If any of your new chapters for 2022 include real estate, call us, we’d love to talk real estate and are here to help assess your unique situation and get you to that bullseye of Home Sweet Home.

Happy New Year and Cheers to Home –

Wally, Laura & Terri / The Wally Gudgell Group

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