The dollar volume of homes purchased by foreigners from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors.
Foreigners bought 183,100 properties with a total value of about $77.9 billion, down from 266,800 properties valued at $121 billion a year earlier.
“The magnitude of the decline is quite striking, implying less confidence in owning a property in the U.S.,” the Realtors’ chief economist says."
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, caused a stunning drop in foreign demand for American homes.
Posted by Hailey Miller on Monday, July 8th, 2019 at 1:01pm.
Area Home Prices Increase a Normal 3.5% YTD
King County Prices Slightly Down
Inventory, pending sales and prices all increased during June
Buyers getting “some relief” as key indicators point to strong summer for housing market
KIRKLAND, Washington (July 8, 2019) – Inventory, pending sales and prices all increased during June compared to a year ago, according to the latest report from Northwest Multiple Listing Service. The same report, which covers 23 counties in Washington state, shows year-over-year drops area-wide in both the volume of new listings and closed sales.
“Clearly we now see that the market is moderating – that is we’re definitely moving from a
I’m feeling really excited about this one! It always feels great when you can blend things that you truly care about! As You know I feel super passionate about education as well as homes❤️. This seems like the perfect way to combine both. If you know anyone that is looking to buy or sell I would love to help! #ourkidsarethefuture #livewhereyoulove
Inventory increases by 22.9 percent throughout Western Washington
King County leads inventory gains with 78 percent year-over-year increase.
Buyers could choose from 19,526 listings nearly double the inventory from February of this year
KIRKLAND, Washington (October 4, 2018) - Housing inventory continued to improve during September while the pace of sales slowed in many counties served by Northwest Multiple Listing Service. "Balance is finally returning to the market, and with it, slowing home price growth," stated OB Jacobi, president of Windermere Real Estate.
A new report from Northwest MLS shows double-digit increases in inventory in several of the 23 counties it serves, led by
Posted by Hailey Miller on Tuesday, October 2, 2018
As the median age of the U.S. owner-occupied housing climbs higher, analysts believe it signals growth for the remodeling market. Old structures normally require new amenities or replacement and repairs of older components, they explain.
"Rising home prices also encourage homeowners to spend more on home improvement," noted Na Zhao, senior economist at the National Association of Home Builders. Aging-in-place boomers are also expected to bolster spending on home improvement.
Citing data from the 2016 American Community Survey, the National Association of Home Builders noted half the homes in the U.S. were built before 1980. The median age of owner-occupied homes is 37 years,
Posted by Hailey Miller on Thursday, August 30, 2018 .
For the first time in nearly two years, the Seattle area no longer leads the nation in home price increases. The monthly Case-Shiller home price index, released Tuesday, showed Las Vegas now claims the title as the nation’s hottest housing market.
The Case-Shiller numbers don’t reflect the full scope of the slowdown however, do in large part to the fact that it includes a three-month moving average through June (things have cooled even more since then), and also because it reflects the entire metro area (Pierce and Snohomish counties haven’t slowed down quite as much as King).
A new analysis from Zillow, using more recent numbers, showed Seattle had the biggest slowdown in
Posted by Hailey Miller on Wednesday, August 22nd, 2018 at 9:05am.
Want to create wealth through homeownership? Build equity.
Home equity is the percentage of your home’s value that you own, and it’s key to building wealth through homeownership. Let’s take a closer look at how to build home equity without blowing your budget — and how to access it when you need it.
How much equity do you have?
Equity is easy to calculate when you first buy a home because it’s basically your down payment. For example, if you put $11,250 down on a $225,000 home, your down payment is 5 percent and so is your equity.
From 2016 to the first quarter of 2018, most first-time home buyers in the U.S. started with about 7-percent equity, according to
First of all I want to make it clear that this blog is intentionally working to be nonpolitical and non-partisan. We're just going to directly state the changes to the current tax policy, how they are projected to affect the average home owner or buyer and of course those of us in the Real Estate profession. And while countless Americans will be impacted by the new laws, both for better and for worse, homeowners in particular will see a number of key changes take effect in the very near future. If you own property, here's what you can expect.
At the bottom of the page is a little more detail on three of the most important changes and how they affect Real Estate Transactions and Buyers and Sellers:
Sammamish Voted in Top 5 Best Small Cities for Families 2017
Sammamish, Washington
Once known as an area for resorts on the shore of Lake Sammamish, the city of Sammamish is about 30 miles east of Seattle, which is home to Amazon, Microsoft, Starbucks and Costco. The city has the highest median annual household income in the top 10 ($147,349) and is No. 6 for income in the overall analysis. Not surprisingly, Sammamish also has the highest median home value (over $600,000) in the top 10 and is No. 42 overall. That said, it also scores well in our analysis for family-friendliness, with the percentage of families with children at 49%
At just under 5,000 acres, Lake Sammamish is the sixth largest lake in Washington and is one of the major
KIRKLAND, Washington (Sept. 6, 2017) – As smoke and ash blanketed parts of Washington state, one real estate broker noted, “Even in a fire there are some cooler spots, and seasonally, the housing market is in a cooler spot.”c
Pending Sales Exceed New Listings Again For August
Active Listings Down 12.8% Compared to Last Year
$1,000,000+ Homes Sales UP 52% Over Last Year
The latest numbers from Northwest Multiple Listing Service show there are both cooler spots and hot spots, with the demand for housing and prices showing few signs of being extinguished.
“For August, we experienced a more robust market than anticipated,” remarked Diedre Hanes, principal managing broker-South Snohomish County at Coldwell Banker Bain in Lynnwood.
