Newsletter

ARE YOU LOOKING TO REAL ESTATE FOR INVESTMENT?

Even in this hot market, I still work with many people looking to invest in real estate for long-term income. If you are among them, you might want to consider a visit to BloggerPockets.com. I’ve found this information to be very helpful and on target. Also, reach out to me, I provide many extra tools to those looking for investment opportunities—whether it’s commercial property, residential or a fixer/flipper.

UNDERSTANDING HOW OUR REAL ESTATE BECAME SO PRICEY

425 Business magazine has a great article out this month highlighting why we are in such a housing crunch. For one, in King County we’ve added 3.33 jobs for every unit of housing built. Also, we are building only .65 housing units for every new person coming into the rental and housing market. People are also having to go further out to afford purchasing a home, adding to our commutes. Read more about King and Snohomish housing shortage here.

EXPERT WEIGH IN ON PREDICTIONS FOR 2020 REAL ESTATE MARKET

At the risk of sounding like a broken record, the experts are in agreement on where the real estate market in heading this year. In short, more buyers means more competition, until we have enough sellers. No one can really predict the future, but it’s a good year to be a seller. Some worry about finding their next home, but as your equity grows and low interest rates continue, you will be in a stronger position to get the home of your dreams. Read the predictions from Redfin, Zillow and other experts in this Seattle PI story.

NORTHWEST MULTIPLE LISTING SERVICE

Home buyers in Western Washington “hit the ground running” in January

“All indicators point to a vigorous spring market,” suggested broker Dean Rebhuhn when reviewing just-released statistics from Northwest Multiple Listing Service. The report covering 23 counties shows pending sales outgained new listings, record-low inventory that’s down 33% from a year ago, and double-digit price increases.

Matthew Gardner, chief economist at Windermere Real Estate (the largest regional real estate company in the Western U.S.), noted home buyers did not take very much time off during the holidays. “They hit the ground running as soon as the new year kicked off.” (Windermere has 140 offices in the NWMLS market area.)

CLICK HERE FOR THE FULL REPORT

DON’T BE DISCOURAGED

I don’t want buyers to be discouraged, there are still homes you can find, just bring patience and compromise to the table. You may have to do a bit of updating, or add the spa bath you want, but you can still find a good home at a good price with a well-positioned offer. Reach out to me if you want to know how to do this. Make this the year to make it happen!

Amid falling inventory, brokers predict a return to 2017 ‘hotness’ in Puget Sound housing markets. See what’s happening near you.

By Katherine Khashimova Long Seattle Times business reporter

If current trends hold, spring may bring a return to the housing market frenzy of two years ago, brokers say, spelling bad news for affordability around Puget Sound.

In December, buyers had fewer homes to choose from in King County than any time since February 2018 — back in the days of bidding wars, weeklong listings and double-digit price growth.

To some extent, seasonal factors are at play: Housing markets generally contract in December.

What makes this more than a seasonal trend is how quickly buyers are snapping up those homes that are on the market, said J. Lennox Scott, CEO of John L. Scott Real Estate. Historically low mortgage rates and predictions of job growth in 2020 appear to be driving demand.

Especially among homes priced under $1 million, which make up 81% of sales, “we’re at what I call multiple-offer everything. We’ve entered an instant-response market,” Scott said. “We’re approaching the level of hotness we were at in late 2017.”

Price growth isn’t quite at the eye-boggling levels of 2017 and early 2018, but spurred by a crunch in inventory, it’s higher than winter buyers might expect.

Click here for the full report

Eastside Growth Forecast 2020

What does the next year hold for the Eastside? We spoke with local experts across several sectors to find out.

Another banner year for the region has brought tremendous prosperity across a breadth of industries, a wealth of new jobs, flourishing tourism, and the welcoming of several large businesses into our cities.

So, how is the Eastside poised to begin a new decade? Will this growth continue? To find out, we ditched the crystal ball and talked to Eastside movers and shakers across myriad industries to find out what they believe the year ahead holds.

Read More

Seattle-area home prices higher than last year for third month in a row

After a spring decline, home prices in the Puget Sound area appear to be once more on the upswing.

For the third month in a row, home prices in October were higher than they were 12 months ago, according to the latest numbers from the S&P CoreLogic Case-Shiller Home Price Index, which lags by two months. Compared to the previous month, prices rose by a seasonally adjusted 0.7%.

In a big change from a general trend of declining growth over the past 18 months, year-over-year price growth has accelerated since July. The 2.5% year-over-year increase in home prices in King, Pierce and Snohomish counties is the largest year-over-year jump in home prices since February.

Still, home prices around these parts are growing slower than the national average.

Read More

Eastside Growth Forecast 2020

What does the next year hold for the Eastside? We spoke with local experts across several sectors to find out.

Another banner year for the region has brought tremendous prosperity across a breadth of industries, a wealth of new jobs, flourishing tourism, and the welcoming of several large businesses into our cities. 

So, how is the Eastside poised to begin a new decade? Will this growth continue? To find out, we ditched the crystal ball and talked to Eastside movers and shakers across myriad industries to find out what they believe the year ahead holds.

Continue reading

7 Home Staging Tips Guaranteed to Attract Buyers

The trick to selling your home is to make it as presentable and appealing as possible. These 7 tips can help you get your house looking its best for potential buyers.

Most people decide whether or not they are comfortable in a property within the first few seconds of entering; and when they are looking for a home, that first impression is crucial to a quick, well-priced sale. A home staging professional works with clients to prepare their home for sale by consulting on refining or refurbishing the visual look and feel of the property to ensure it is featured for its target market in the best possible way. The staging process can be complex, getting the right advice is important.

However, we have provided you with seven simple tips to give homeowners a head start when selling their homes.

Continue reading