Balance "finally returning" to housing market as buyers welcome more choices, moderating prices

Are your sellers ready for a buyer's market?

• 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…

2396 Views, 0 Comments

Remodeling trending upward as housing stock & homeowners age.

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,…

2681 Views, 0 Comments

Seattle Slow Down: Housing Prices Have Biggest Slowdown in Nation

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…

2944 Views, 0 Comments

6 Smart Ways to Build Home Equity

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…

2872 Views, 0 Comments

2018 Tax Reform- How will it affect you in your Real Estate Future? Non-Political

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:

Increased standard deduction: The standard…

2724 Views, 0 Comments

One of our own, makes the cut!

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…

2448 Views, 0 Comments

Housing Market Fire Still Burning: Though a Few “Cool “ Spots Appear

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.…

3177 Views, 0 Comments

Fall Home prep

Hello,  I hope you are enjoying these crisp fall days! It is amazing how fast summer departed and autumn set in; this weekend has been a little wet but last week was gorgeous:). At our house we are getting excited for pumpkin muffins (really pumpkin everything if you shop at Trader Joes), football, cozy fires and time with family and friends. Below is a quick check-list to help you prepare your home for cooler weather. 
Have a great weekend! Please drop me a line, I always love to hear what you have been up to.  Warmly,  Hailey 
 

2905 Views, 0 Comments

Real Estate Tip #2

I was recently talking to a colleague who had an extremely frustrated client due to the fact that her home was worth $150,000+/- less than the number she agreed to in her divorce settlement.  When he asked her why the house wasn't sold as part of the agreement she told him that she wanted to keep the house for the kids. She went on to say in hindsight she couldn't afford the house, but figured she could sell it and make a profit someday. Unfortunately, she agreed to a number that may or may not have been market value determined by an appraiser out of Seattle. Real Estate is no different than other markets; it moves up AND down. These decisions are NEVER easy and often emotional, but it is my opinion that careful consideration is made to sell the real…

2206 Views, 0 Comments

Tip of the week

Real Estate Tip #1 
Just because it's wintery, (yes that's a word) cold, gray and raining outside doesn't mean it's not a good time to buy or even sell your home. I have found this time of year to be an awesome time to buy because often the inventory that is currently listed for sale is surplus from the summer rush. Sellers sometimes may not be getting good advice and languishing on the market at list prices that won't cause their home to sell. This is an OPPORTUNITY for a buyer to meet a motivated seller and strike a deal. If you are a seller it's also great! Less competition! Basic economics; less supply more demand but make sure your Realtor prices it right! That's the key! Now is a great time if you're looking for a great deal but bundle up because…

2960 Views, 0 Comments