On Friday, June 8th our Windermere offices closed their doors for our annual Community Service Day. Since 1984, Windermere has dedicated a day to giving back to the community and assisting with neighborhood improvement initiatives.
We’re proud to share these projects completed by our East, Inc. offices:
The Bellevue and Bellevue West offices teamed up to lend a hand at Jubilee REACH. This local organization supports the social and emotional needs of children and their families through mentoring, tutoring, and after-school clubs and sports programs within Bellevue public schools. Our Windermere team helped with a variety of maintenance tasks including painting doors and benches, landscaping, replacing lights, washing windows, repainting the basketball court, pressure washing walkways and play sets, and more. We are proud of our offices’ hard work at this site, and we are grateful to Jubilee REACH for their important contributions to our community and for letting us be a part of their mission!
See more photos of the day here.
Kids Without Borders
Our Redmond office assisted Bellevue-based Kids Without Borders, an organization founded by Son Michael Pham, who used his experience as a refugee from Vietnam as a catalyst to serve children in our local and international communities with the vision of “all kids, one world.” Agents and staff spent the day with Son Michael Pham at the KWB storage units where they sorted and packed clothing for distribution to families in need. This was a great opportunity for us to return some of the generosity this organization has put into our global community!
See more photos of the day here.
Yarrow Bay agents and staff rolled up their sleeves, slipped on their gardening gloves, and grabbed shears and rakes to landscape and remove invasive plants at Heritage Park near downtown Kirkland. The park offered an incredible view of the Seattle skyline across Lake Washington as they worked – a reminder of how lucky we are to be able to enjoy the serenity of nature while still being close to the bustling city. We were happy to do our part to beautify and help preserve part of what makes our community so special!
See more photos of the day here.
Odessa Brown Children’s Clinic
Our Bellevue South office gave back by partnering with Seattle Children’s Odessa Brown Children’s Clinic, which strives to promote quality pediatric care, family advocacy, health collaboration, mentoring, and education in a culturally relevant context. Our agents and staff helped with landscaping and mulching the clinic grounds, facilitating the book drive, and working on art projects with kids at the clinic. As an added bonus, they had the chance to listen to talks by a pediatrician and Lenny Wilkens, former NBA player and coach and current children’s healthcare advocate. We are thankful to OBCC for welcoming and inspiring us on Community Service Day and every day!
See more photos of the day here.
Cougar Mountain Zoo
Our Issaquah office headed to the Cougar Mountain Zoo in Issaquah to help with their mission to increase the understanding and appreciation of the Earth’s wildlife and the role of humanity in nature through education, conservation, propagation, and exhibition – and enjoy the company of some of its animal inhabitants. A few of their projects included clearing brush, painting benches, and habitat maintenance/wall building. This was one of the Issaquah office’s favorite Community Service Day projects, and we loved seeing them experience the zoo in a whole new way that reminded us of all of the work that goes into maintaining these neighborhood treasures!
See more photos of the day here.
Check out some of our favorite moments from our 6 Eastside offices on #WinderemereCSD 2018. 👉 Learn more about the important community projects our agents & staff took part in this year: https://windermereeastside.com/2018/06/19/community-service-day-2018/
Posted by Windermere Eastside on Tuesday, June 19, 2018
Community Service Day has always been a treasured tradition and an important part of our culture here at Windermere. We greatly appreciate everything our agents invest in our communities to make them even better. Thank you all for continuing to make this a place we are proud to call HOME.
Last month brought some long-awaited, positive news for buyers with May posting the most new listings in over a decade. Despite the uptick in inventory, most homes are selling in less than a month. Prices haven’t been impacted either, with the majority of the region continuing to experience double-digit home price increases.
The median home price on the Eastside hit an all-time high of $960, 000 in May; a 10 percent gain over the same time last year. While there were a third more homes for sale in May than a year ago, the area still had only about a month of available inventory. Three to six months is considered a balanced market. Redmond, a city with a population of 64,000, currently has only 51 single-family homes on the market.
First the good news: Those looking to buy a home in King County in May had almost 1,000 more homes to choose from compared to the previous month. The bad news: That boost in inventory did little to moderate home prices. The median price for a single-family home jumped 15 percent to $726,275, up slightly from the record high set in April.
A strong economy and desirable lifestyle have kept Seattle a leading destination for job-seekers. The ever-increasing demand for housing has sapped supply and sent prices soaring. For 19 months Seattle has led the nation in rising home prices. May saw the city set yet another record, with the median home price jumping 14 percent to $830,000.
Soaring prices in King County combined with rising interest rates make Snohomish County an affordable alternative for those willing to extend their commute time. The typical home cost $500,000 in May, an increase of 11 percent over the previous year, and down very slightly from last month.
This post originally appeared on the WindermereEastside.com Blog.
|Investing in real estate is one of the world’s most venerable pathways to building wealth. When properly managed, income from renting or real estate investment trusts can provide you with the financial security to plan out the rest of your life. The conclusion is easy to envision, but knowing where to begin can be overwhelming, particularly for anyone who has never previously owned a home.
As a real estate agent my goal is always to improve and support our communities, so I want to share few key things to keep in mind as you enter the world of real estate investment.
Know the right type of investment for you
|Investing in real estate needn’t commit you to being a landlord. A Real Estate Investment Trust (REIT) is a low-maintenance way to get involved in real estate with next to none of the day-to-day monitoring required of direct property management. REITs are trusts that typically own multiple properties, and investors may purchase shares within the REIT. Typically, as the value of the property rises, so too do the values of your shares. If you’d like to dip a toe into real estate investing before diving in fully, a REIT is a great place to start.|
Start with your own home
|Owning the roof over your head is a basic step towards investing success. Even better, when you plan to live in the home you’re buying (rather than renting it out), you will likely benefit from lower mortgage rates and a cheaper down payment. The reasoning is straightforward – lenders see a loan to people purchasing the home they live in as an investment in people highly committed to the property.
Once you’ve owned your own house for a few years, you can look to purchase a new home to move into. By purchasing the new home with the intent to move in, you’ll be eligible to receive more favorable financing once again. After you’ve secured your new home, your first home is primed to be transformed into a rental property, and you can continue to see a return on your investment. If you’re seeking further support with buying a first, second, or third home, I am happy to help.
This post originally appeared on the Windermere.com blog.
You can now find the W Collection Portfolio in the May issue of the Puget Sound Business Journal! This insert showcases W Collection agents along with luxury listings, market statistics and Windermere’s partnership with Luxury Portfolio International and Juwai.com.
Read the online version by clicking the image below.
For the past 29 years, the Windermere Foundation has been helping those in need in our communities through donations to local organizations that provide services to low-income and homeless families. In 2017, the Windermere Foundation raised over $2.4 million in donations, bringing the total to over $35 million raised since we started this effort in 1989. The following infographic details exactly how these funds were dispersed in 2017 and the types of organizations that benefited from them. For more information please visit windermere.com/foundation.
This post originally appeared on the Windermere.com Blog.
Despite the typical seasonal surge in new listings, supply in our area continued to fall far short of demand in March. With just two weeks of available inventory in every market, competition for homes is intense. The result was another month of double-digit price increases as compared to a year ago. The region has now led the country in home price increases for 17 months in a row. The prediction for the spring market: HOT with no signs of cooling.
The median price of a single-family home was up 6 percent over last March to $926,000, down slightly from the record-setting price last month. Sales were brisk at every price, including the luxury market. Sales of homes priced at $2 million or more were up 23 percent in the first quarter of 2018 as compared to the previous year.
A booming economy combined with insufficient inventory propelled prices to an all-time high in March. The median price of a single-family home in King County jumped 15 percent to $689,950. Multiple offers remain the norm. Buyers here need to plan on moving very quickly and working with their agent on strategies to navigate bidding wars.
The median home price in Seattle set a new record of $819,500 in March, up a whopping 17 percent from a year ago. Homes are selling within days of being listed. Only 19 single-family homes are currently on the market in Ballard and just 24 in Queen Anne. South Seattle, traditionally the most affordable part of the city, has seen the greatest increase in prices. Home values in these neighborhoods have nearly tripled since the recession ended, while home values in the rest of the city have doubled.
Once a less competitive market than King County, Snohomish County now has the lower amount of inventory of the two. The median price of a single-family home grew 12 percent over a year ago to $475,000. Prices here remain significantly lower than in King County and many buyers priced out of that market are trading a longer commute time for the opportunity of ownership.
The local real estate market set new home price records in many parts of the region in February. Prices here have grown faster than anywhere else in the country for the last 16 months in a row. Demand remains high and inventory very low. Brokers are hoping the normal seasonal increase in listings this spring will help give buyers some relief.
With home prices soaring on the Eastside, it’s not a matter of whether the median price will exceed a million dollar, but when. February brought the market very close to that milestone. The median price of a single-family home increased 14 percent to a record $950,000 on the Eastside, surpassing the previous peak recorded in December.
The red-hot job market in King County continues to outpace nearly every area in the nation. Well-paid workers looking to buy close to city centers have fueled a growing competition for a shrinking number of homes. That demand boosted the median price of a single-family home up 16 percent over a year ago to $649,950.
The median price of a single-family home in Seattle hit a new high of $777,000 in February, $20,000 more than the previous record set in January and up 14 percent from the same time last year. Despite the sharp increase in prices, multiple offers have become the norm for most properties. It remains to be seen if recent interest rate hikes will have a moderating effect on home values.
After several months of moderating growth, Snohomish County set a new record for home prices in February. The median price of a single-family homes jumped 18 percent to an all-time high of $485,000. Inventory is down from a year ago, with less than a month’s supply of homes available for sale.
If you are considering buying a home in today’s market, here are three things to consider:
- Make sure you can afford the payments.
- Choose a location that will appeal to you long-term.
- Be committed to living there for a minimum of five to seven years.
This post originally appeared on the WindermereEastside.com blog.
It’s almost March – winter’s not over yet, but spring is right around the corner. If you have cabin fever from being inside, cleaning and freshening up your house can help you get through this last month of winter and be ready to get outside when spring arrives.
Once you check these items off your to-do list, you’ll be able to relax by the fire with a good book and enjoy the last few weeks of winter.
- Mop entryway floors. Clean your floors regularly to prevent damage from road salt and melting snow. Place a basket of old towels near the door to wipe up water and salt as soon as it is tracked inside.
- Rotate or flip your mattress. Extend the life and comfort of your mattress by flipping or rotating it. At the same time, vacuum box springs and the mattress to eliminate allergy causing dust- mites.
- Organize your laundry room. Scrape dried-on laundry detergent from the ridges in your washer. Throw away laundry products you never use and replace damaged sorting bins.
- Clean out your spice cabinet. Throw away expired spices and other seasonings, which may not only lose their taste, but could harbor mold and bacteria.
- Sanitize hand-held devices. Prevent germs that cause the spread of colds and the flu by disinfecting your phone, remote controls, tablets, as well as your door and cabinet knobs.
- Dust blinds, ceiling fans and fixtures. Wipe down or use a feather duster to remove the dirt that builds up on blinds, ceiling fans, light fixtures other small electronics.
- Add color to your table. Treat yourself to some fresh flowers to add cheer to your kitchen table while waiting for spring blooms to make their first appearance.
- Plan your summer vacation. Reserve your vacation home now to get the best selection of available properties. Start your planning today at Long & Foster’s Vacation Rentals website.
This post originally appeared on the Windermere Eastside blog.
With competition for homes growing and inventory shrinking, the real estate market in January was as hot as ever. Home prices were up by double digits as buyers chased severely limited inventory. The number of homes for sale hit a record low for the month of January, which should strongly favor sellers as we move into the prime spring selling season. The average home seller in our area now makes a 64 percent profit, the fourth-highest rate of any region in the country, according to ATTOM Data Solutions.
Home prices on the Eastside continue to climb. The median price of a single-family home was up 18 percent over last January to $938,000 — virtually unchanged from the record high set a month ago. West Bellevue, King County’s most expensive area, saw the median home price surge to a record high of $2.72 million. With less than a month of available inventory, prices aren’t expected to cool any time soon.
Single-family home prices in King County soared 20 percent over a year ago to $628,388, with double-digit increases recorded in every area of the county. Lack of inventory continues to fuel the market. There were 21 percent fewer homes for sale here as compared to a year ago, with inventory hitting a record low for the month of January. The region has now been the hottest housing market in the country for 15 months in a row.
An ongoing shortage of inventory combined with an economy that continues to add jobs has kept the Seattle housing market very competitive and increasingly expensive. Seattle’s median price hit a new record in January jumping 19 percent to $757,000. Despite the increase in prices, brokers are reporting open house traffic that can number in the hundreds of interested buyers.
Home price increases in Snohomish County were more moderate than those in King County. The median price of a single-family home grew 10 percent over a year ago to $450,000. That number is down from the high of last year, and reflects a more common seasonal slowdown.
2017 closed out the year with historically low inventory and record-breaking price gains. A strong local economy and brisk population growth has helped fuel a steep discrepancy between supply and demand. As long as this imbalance remains, 2018 is on track to remain a very strong seller’s market.
Defying the usual winter slow-down in home prices, December broke new records on the Eastside. The median price of a single-family home soared 17 percent over a year ago to $938,240 – an all-time high for the region. Appreciation in higher-end areas, like West Bellevue and Mercer Island, topped 20 percent. Homeowners, especially those considering downsizing, may want to take advantage of the sharp increase in equity.
King County recorded the lowest inventory since records began in 2000, and demand just keeps rising. As a result, the price of a single-family home jumped 15.5 percent over the same time last year to $635,000. Those looking buy a condo as a more affordable option were out of luck. The median price tag of $402,000 is a relative bargain when compared to a single-family home, but there are only about 200 condos on the market, another record low.
While below the high point last summer, the median price of a home in Seattle jumped 14 percent year over year to $725,000. Supply and demand is again the culprit. There are just two weeks of available inventory on the market. Not only are homes here selling quickly, but fewer people are putting their homes up for sale. Most economists are predicting a moderate slowdown in cost increases here in 2018, with prices still rising but not as sharply as they did in 2017.
Prices in Snohomish County continue to rise at a rapid pace. The median price of a single-family home here grew 12.5 percent from a year ago to $449,950. With less than a month of available inventory, prices are projected to remain high.