Local Market Update – January 2020

2019 ended with too many buyers chasing too few homes. December marked the sixth straight month of declining supply. The severe shortage of homes, historically low interest rates, and strong job growth are predicted to keep the local housing market strong in 2020. In a region starved for inventory, sellers can expect significant interest in new listings.

EASTSIDE

Homes sold briskly on the Eastside in December in all categories, including the luxury market. The number of listings were down nearly 50% from a year ago and the area had under a month of available inventory. That lack of inventory helped bump the median price of a single-family home up 4% from a year ago to $949,000, which is a $49,000 increase from November.  New large scale developments and a strong economic forecast indicate that the housing market will remain healthy.

VIEW FULL EASTSIDE REPORT

KING COUNTY

King County continues to be a seller’s market. Inventory in December was down nearly 40% compared to a year ago and ended the month with below one month supply. The median price of a single-family home rose 6% over the prior year to $675,000, up slightly from November. More affordable areas saw much higher increases. Southeast King County – which includes Auburn, Kent and Renton – saw home prices jump 16% over the previous year.

VIEW FULL KING COUNTY REPORT

SEATTLE

Numbers tell the story in Seattle. Inventory was down 25%, while the number of closed sales increased 19%. Strong demand here has kept the housing market solid, with prices fluctuating slightly month-to-month for much of 2019. The median price of a single-family home sold in December increased 2% from a year ago to $727,000. That was slightly down from $735,000 in November.

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

While the median home price in Snohomish County is less than that in King County, the gap continues to close. Buyers willing to trade a longer commute for a lower mortgage have kept demand and prices strong. Inventory here was off 36% in December as compared to a year ago. The median price of a single-family home rose 9% over a year ago to $510,000, an increase of $15,000 from November.

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com

Posted on January 14, 2020 at 11:21 pm
Sandy Nicholls | Category: Home Buying, Local Market Updates, Selling Your Home | Tagged , , , , , , ,

Windermere’s Winter Drive Collects Nearly 6,000 Items for Mary’s Place

 

It’s another fall season and the fourth year of Windermere’s #TackleHomelessness campaign with the Seattle Seahawks. As a part of this campaign, Windermere hosts an annual “We’ve Got You Covered” winter drive. This year, 33 Windermere offices in in the greater Seattle area* participated in the drive, collecting new hats, scarves, gloves/mittens, socks, and other warm winter items for Mary’s Place.

 

Mary’s Place is a non-profit that provides safe, inclusive shelter and services to support women, children and families on their journey out of homelessness. Since 1999, Mary’s Place has helped hundreds of women and families move out of homelessness into more stable situations. But shelter capacity is limited and there are still hundreds of families sleeping outside in cars and tents each night, so Windermere collected items to help them stay warm this winter.

 

During the four-week drive, our offices collected donations from agents, staff, and the community, which included over 630 hats, 680 pairs of gloves, over 200 scarves, over 2,000 pairs of socks, and an assortment of coats, jackets, sweaters, blankets, toiletries and other items, bringing our grand total to nearly 6,000 items collected for Mary’s Place.

 

One office made the drive extra special by partnering with a local knitting group. The Windermere Mercer Island office partnered once again with the Mercer Island Tuesday Knitters, to make cozy hats and scarves. This year the knitting group contributed 67 hand-knitted hats and scarves to the winter drive.

 

The staff at the Mary’s Place donation center in South Seattle were grateful to receive the bins full of donated items that were delivered by Gentle Giant Moving Company. “We are so incredibly grateful to our Windermere family for all that they do for our families!” said Marty Hartman, Mary’s Place Executive Director. “These gifts of warm winter gear will keep our kids and families warm and loved this winter!”

 

Windermere is also grateful to partner with Gentle Giant Moving Company on our winter drive. For the past four years, they have generously given their time, muscle, and trucks to pick up and deliver all of the donations.

 

And this drive would not be possible each year without the support of the Seattle Seahawks, our offices, and all those who donated. From all of us at Windermere, thank you for making our fourth annual winter drive a success and for supporting families experiencing homelessness in the greater Seattle area!

*Participating Windermere offices:

BellevueBellevue CommonsBellevue WestFederal WayFederal Way-West CampusKentKirklandKirkland Yarrow BayLynnwoodMercer IslandMill CreekProperty Management – BellevueProperty Management – EdmondsProperty Management-EverettProperty Management – Seattle NorthProperty Management – SouthRedmondSeattle-EastlakeSeattle-Green LakeSeattle-GreenwoodSeattle-LakeviewSeattle-Madison ParkSeattle-Mount BakerSeattle-NorthgateSeattle-NorthwestSeattle-Pike/PineSeattle-Queen AnneSeattle-Sand PointSeattle-Wall StreetSeattle-West SeattleServices CompanyShorelineSnohomish

 


This post originally appeared on the Windermere.com Blog

Posted on December 9, 2019 at 7:04 am
Sandy Nicholls | Category: Community, Windermere Foundation | Tagged , , , , , , , ,

Four Holiday Décor Trends to Inspire You This Season


The holiday season is here and for many of us, that means it’s time to deck the halls. If you’re looking for some inspiration and a place to start, here are some ideas that are certain to get everyone in the spirit.

 

A Tree of a Different Color

Photo Credit: Left – Lushome, Center – HGTV, Right – Christmas365

For many, there’s nothing more quintessential during the holidays than a Christmas tree decked out in ornaments. But acquiring a tree can be challenging and expensive. Moreover, housing a tree consumes time and space. That’s why we love the idea of an alternative tree. There are plenty of options you can buy online or create yourself using things you probably already have around the house. And if you miss the smell of a real tree, try a scented candle or essential oils.

 

The Season of Lights

Photo Credit: Amara

There’s something perpetually charming about twinkling lights. Whether you’re wrapping them around your front porch or adorning your fireplace mantle, extra lights deliver a warm glow during the holiday season. Getting creative and adding light to otherwise unexpected places, including bookcases, around headboards, or even in glassware, is a great way to keep everything looking merry and bright.

 

Act Natural

Photo Credit: Better Homes & Gardens

Not all holiday climates are built alike. If you’re expecting a white Christmas, you’re probably used to pine trees and winter brush, but for those of you located in regions where the mercury doesn’t drop, sprinkling in natural elements can transform your home into a wintery oasis. Holly and pine needles add a traditional touch, or consider a wreath of olive branches with some sleigh bells interspersed.

 

Bring it All Home at Dinner

Photo Credit: Amara

When decorating for the holidays, don’t forget the table! A sprig of holly adds a festive touch to your place settings. And instead of the traditional centerpiece, try placing candles in glass vases or mason jars to give your tablescape that added touch of holiday pizzazz.

 


This post originally appeared on the Windermere.com Blog

Posted on December 4, 2019 at 4:02 pm
Sandy Nicholls | Category: For Your Home | Tagged , , , , , , ,

A Gold Thanksgiving

Image Source: Shutterstock


We’re in the thick of autumn now, with Thanksgiving just days away. That means it’s time to start considering how to best showcase your home before the guests arrive.

One of the cheeriest bits of fall is the shifting colors that bring a canopy of rustic hues to a walk through the neighborhood. You can bring that cozy feeling inside yourself with some golden-dipped creativity.

 

Gilded Pears – Use real or fake pears, whichever you prefer, spray paint gold, and allow them to dry completely. You can add little flags to the top if you’re really feeling crafty.

 

Magnolia Wreath – Collect some Magnolia branches and use a wreath frame as a base. Spray paint the green side of each leaf with gold and then assemble using wire. It’s not as complicated as it looks!

 

Dipped Pinecones  – First, you’ll want to make sure your cones are clean and dry. Apply gold leaf adhesive using a foam brush; deciding how much you add will determine how much of the cone is covered in gold. After they dry, consider gold leafing the cone’s scales. Wrap it around the cone and use a clean foam brush to rub it into the adhesive. Then give it a light spray with sealant and allow them to dry.

 

Gold Acorns – Hand pick your acorns, clean, and oven-dry them to make sure they are pest free. Paint them gold and then add a layer of clear shellac for a shiny look. Lastly, you’ll want to use a hot glue gun to attach the caps since they naturally fall off after the acorns dry. You can use these as filler in a glass vase or simply scatter them on a tabletop.

 

Shimmering Maple Garland – All you’ll need is a bag of artificial leaves, bought at any craft store, some Elmer’s glue, glitter, and string. Use a paintbrush to apply glue to each leaf and sprinkle lots of glitter over them. Let the glue set, then shake off the excess glitter, punch a hole at the top and attach a ribbon. Tie them all to a large strand and voilà, a perfect garland for the holidays.

 

Petite Pumpkins – If you are still head over heels for pumpkins, then using small ones for place cards will add some spice to your table. Tape each pumpkin halfway with painters tape, choose a design with horizontal, diagonal, or however you want! Next paint the bottom portion with gold craft paint (may require multiple layers) and with the last layer still wet, generously sprinkle gold glitter over the painted half. After your pumpkin is dry and you’ve shaken off the excess glitter, wrap beading foil tightly around the stem. Leave a little extra at the end for you to bend for your place card.

 

Find these and more decor ideas on Windermere’s Pinterest Board, “A Gold Thanksgiving.”

 


This post originally appeared on the Windermere.com Blog

Posted on November 21, 2019 at 2:10 pm
Sandy Nicholls | Category: For Your Home | Tagged , , , , , , , ,

Local Market Update – November 2019

A steady influx of buyers continued to strain already tight inventory throughout the area in October. Home sales were up, as were prices in much of the region. With our thriving economy and highly desirable quality of life drawing ever more people here, the supply of homes isn’t close to meeting demand. Homeowners thinking about putting their property on the market can expect strong buyer interest.

EASTSIDE

As the Eastside continues to rack up “best places” awards, it’s no surprise that the area is booming. Development is on the rise, fueled primarily by the tech sector. The appeal of the Eastside has kept home prices here the highest of any segment of King County. The median single-family home price in October was stable as compared to the same time last year, rising 1% to $900,000.

VIEW FULL EASTSIDE REPORT

KING COUNTY

King County’s 1.74 months of available inventory is far below the national average of four months. Despite the slim selection, demand in October was strong. The number of closed sales was up 5% and the number of pending sales (offers accepted but not yet closed) was up 11%. The median price of a single-family home was down 2% over a year ago to $660,000. However, some areas around the more reasonably-priced south end of the county saw double-digit price increases.

VIEW FULL KING COUNTY REPORT

SEATTLE

Seattle home prices took their largest year-over-year jump in 12 months. The median price of a single-family home sold in October was up 3% from a year ago to $775,000, a $25,000 increase from September of this year.  Seattle was recently named the third fastest-growing city in America.  Real estate investment is surging. A growing population and booming economy continue to keep demand for housing –and home prices—strong.

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

Both the number of home sales and home prices were on the rise in Snohomish County in October. Overall homes sales increased 7%, and the median price of a single-family home rose 5% over a year ago to $495,000.  Supply remains very low, with just six weeks of available inventory.

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com

Posted on November 18, 2019 at 1:55 pm
Sandy Nicholls | Category: Housing Market News, Local Market Updates | Tagged , , , , , , , , ,

Windermere Foundation Has Raised Over $1.5 Million This Year!

 

Windermere offices throughout the Western U.S. have been busy raising money and making donations to non-profit organizations in their local communities that provide services to low-income and homeless families. And their efforts are paying off; so far this year we’ve raised over $1.5 million, bringing the total raised by the Windermere Foundation to $39.5 million since 1989.

 

Here are just a few examples of how our offices are giving back to their communities:

 

Fort Collins, Colorado

The Windermere Real Estate office in Fort Collins held its 5th Annual Windermere Foundation Tailgate Party on Friday, September 20. The family-friendly event featured food, drinks, a bouncy house obstacle course, corn hole, face painting, and live music. Over $1,800 was raised for the Windermere Foundation during this event. All proceeds from the tailgate “party with a purpose” benefitted Partners Mentoring Youth and Crossroads Safehouse.

 

Centralia, Washington

The Windermere office in Centralia, WA sponsored the “Down Home: A Toledo Shindig” event held at Bonanza BBQ on September 14 to benefit Toledo School District students in need. Local businesses and residents came together to donate auction items, food, and volunteer their time. Windermere Centralia office managing broker Paula Burrows, Dan Gorton owner of Bonanza BBQ, and others from the community formed a committee and spearheaded the organization of the fundraising event, seeing a need in the community that was not being met. The Gortons provided the venue and the BBQ. Other sponsors provided additional food items, entertainment, and big-ticket items for the auction. The event raised $34,000 for a fund to help provide basic needs for students in the school district, things that low-income families couldn’t otherwise afford.

 

Photo Courtesy of Josie Ray Photography

 

Spokane, Washington

The Windermere office in Spokane, WA held their annual Windermere Shoes and Socks Event at their local Big 5 sporting goods store on August 24. Windermere agents and family members volunteered their time to help 132 children select a pair of shoes and socks. An additional 250 pairs of socks were also donated by Liberty Lake Rotary. In total, the Windermere office donated over $5,400 to provide shoes and socks to local children in need.

 

Windermere offices are proud to host events in their communities, like the ones mentioned above. These generous donations to the Windermere Foundation further our mission to support low-income and homeless families in the areas where we live and work. If you’d like to help support programs in your community, please click the Donate button.

 

To learn more about the Windermere Foundation, visit WindermereFoundation.com.

This article originally appeared on the Windermere.com Blog

Posted on November 8, 2019 at 7:03 pm
Sandy Nicholls | Category: Community, Windermere Foundation | Tagged , , , , ,

Western Washington Real Estate Market Update – Q3 2019

The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist, Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me!

ECONOMIC OVERVIEW

Washington State employment has softened slightly to an annual growth rate of 2%, which is still a respectable number compared to other West Coast states and the country as a whole. In all, I expect that Washington will continue to add jobs at a reasonable rate though it is clear that businesses are starting to feel the effects of the trade war with China and this is impacting hiring practices. The state unemployment rate was 4.6%, marginally higher than the 4.4% level of a year ago. My most recent economic forecast suggests that statewide job growth in 2019 will rise by 2.2%, with a total of 88,400 new jobs created.

HOME SALES

  • There were 22,685 home sales during the third quarter of 2019, representing a slight increase of 0.8% from the same period in 2018 and essentially at the same level as in the second quarter.
  • Listing activity — which rose substantially from the middle of last year — appears to have settled down. This is likely to slow sales as there is less choice in the market.
  • Compared to the third quarter of 2018, sales rose in five counties, remained static in one, and dropped in nine. The greatest growth was in Skagit and Clallam counties. Jefferson, Kitsap, and Cowlitz counties experienced significant declines.
  • The average number of homes for sale rose 11% between the second and third quarters. However, inventory is 14% lower than in the same quarter of 2018. In fact, no county contained in this report had more homes for sale in the third quarter than a year ago.

HOME PRICES

  • Home price growth in Western Washington notched a little higher in the third quarter, with average prices 4.2% higher than a year ago. The average sales price in Western Washington was $523,016. It is worth noting, though, that prices were down 3.3% compared to the second quarter of this year.
  • Home prices were higher in every county except Island, though the decline there was very small.
  • When compared to the same period a year ago, price growth was strongest in Grays Harbor County, where home prices were up 22%. San Juan, Jefferson, and Cowlitz counties also saw double-digit price increases.
  • Affordability issues are driving buyers further out which is resulting in above-average price growth in outlying markets. I expect home prices to continue appreciating as we move through 2020, but the pace of growth will continue to slow.

DAYS ON MARKET

  • The average number of days it took to sell a home dropped one day when compared to the third quarter of 2018.
  • Thurston County was the tightest market in Western Washington, with homes taking an average of only 20 days to sell. There were six counties where the length of time it took to sell a home dropped compared to the same period a year ago. Market time rose in six counties, while two counties were unchanged.
  • Across the entire region, it took an average of 38 days to sell a home in the third quarter. This was down 3 days compared to the second quarter of this year.
  • Market time remains below the long-term average across the region and this trend is likely to continue until more inventory comes to market, which I do not expect will happen until next spring.

CONCLUSIONS

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors. I am leaving the needle in the same position as the first and second quarters, as demand appears to still be strong.

The market continues to benefit from low mortgage rates. The average 30-year fixed rates is currently around 3.6% and is unlikely to rise significantly anytime soon. Even as borrowing costs remain very competitive, it’s clear buyers are not necessarily jumping at any home that comes on the market. Although it’s still a sellers’ market, buyers have become increasingly price-conscious which is reflected in slowing home price growth.

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

This post originally appeared on the Windermere.com Blog.

Posted on October 28, 2019 at 7:31 am
Sandy Nicholls | Category: Home Buying, Housing Market News, Selling Your Home, The Gardner Report | Tagged , , , , , , , , , , , , ,

The Impact of Staging Your Home

For more than 20 years, the benefits of staging a home have been well documented. Numerous studies show that staging helps sell a home faster and for a higher price. According to the National Association of REALTORS®, 88 percent of home buyers start their search online, forming impressions within three seconds of viewing a listing. When a home is well staged, it photographs well and makes the kind of the first impression that encourages buyers to take the next step.

Studies also indicate that buyers decide if they’re interested within the first 30 seconds of entering a home. Not only does home staging help to remove potential red flags that can turn buyers off, but it also helps them begin to imagine living there. Homes that are professionally staged look more “move-in ready” and that makes them far more appealing to potential buyers.

According to the Village Voice, staged homes sell in one-third less time than non-staged homes. Staged homes can also command higher prices than non-staged homes. Data compiled by the U.S. Department of Housing and Urban Development indicate that staged homes sell for approximately 17 percent more than non-staged homes.

A measurable difference in time and money

In a study conducted by the Real Estate Staging Association in 2007, a group of vacant homes that had remained unsold for an average of 131 days were taken off the market, staged, and relisted. The newly staged properties sold, on average, in just 42 days, – which is approximately 68 percent less time on the market.

The study was repeated in 2011, in a more challenging market, and the numbers were even more dramatic. Vacant homes that were previously on the market for an average of 156 days as unstaged properties, when listed again as staged properties, sold after an average of 42 days—an average of 73 percent less time on the market.

Small investments, big potential returns

Staging is a powerful advantage when selling your home, but that’s not the only reason to do it. Staging uncovers problems that need to be addressed, repairs that need to be made, and upgrades that should be undertaken. For a relatively small investment of time and money, you can reap big returns. Staged properties are more inviting, and that inspires the kind of peace-of-mind that gets buyers to sign on the dotted line. In the age of social media, a well-staged home is a home that stands out, gets shared, and sticks in people’s minds.

What’s more, the investment in staging can bring a higher price. According to the National Association of REALTORS, the average staging investment is between one percent and three percent of the home’s asking price, and typically generates a return of eight to ten percent.

In short, less time on the market and higher selling prices make the small cost of staging your home a wise investment.

Interested in learning more? Contact your real estate agent for information about the value of staging and referrals for professional home stagers.

This post originally appeared on the Windermere.com Blog

Posted on October 23, 2019 at 7:05 am
Sandy Nicholls | Category: Home Buying, Selling Your Home | Tagged , , , , , , , , , , , , , , ,

Keeping Families Warm from Head to Toe

Windermere is in its fourth season of helping #TackleHomelessness with the Seattle Seahawks!

Each year, as part of that campaign, Windermere hosts a “We’ve Got You Covered” winter drive for a local non-profit. This year, we are collecting warm winter gear for our new non-profit partner, Mary’s Place, an organization that provides safe, inclusive shelter and services to women, children and families on their journey out of homelessness.

We are asking for donations of NEW hats, scarves, gloves/mittens, and warm socks for all genders and sizes.

From October 14 through November 8, you can drop off donations at our participating Windermere Real Estate and Property Management offices in King and Snohomish Counties**. Once the drive is over, our friends at Gentle Giant Moving Company — our winter drive partner for the past three years — will once again generously donate their time and trucks to pick up the donations collected by our offices, to deliver to Mary’s Place.

Since 1999, Mary’s Place has helped hundreds of women and families move out of homelessness into more stable situations. Across eight emergency family shelters in King County, they keep struggling families together, inside, and safe when they have no place else to go. But shelter capacity is limited and there are still hundreds of families sleeping outside in cars and tents each night. Please help them stay warm during the cold winter months by dropping off your donations to our participating offices. 

Feel free to contact your Windermere agent or local office for more information, or email justask@windermere.com.

    

**Windermere Winter Drive Drop-Off Locations

Bellevue

Bellevue Commons

Bellevue West

Federal Way

Federal Way-West Campus

Kent

Kirkland

Kirkland Yarrow Bay

Lynnwood

Maple Valley 4 Corners

Mercer Island

Mill Creek

Property Management – Bellevue

Property Management – Everett

Property Management – Edmonds

Property Management – Seattle North

Property Management – South

Redmond

Seattle-Green Lake

Seattle-Greenwood

Seattle-Lakeview

Seattle-Madison Park

Seattle-Magnolia

Seattle-Mount Baker

Seattle-Northgate

Seattle-Northwest

Seattle-Pike/Pine (1324 East Pike Street, Seattle, WA 98122)

Seattle-Queen Anne

Seattle-Sand Point

Seattle-Wall Street

Seattle-West Seattle

Services Company

Shoreline

Snohomish

This post originally appeared on the Windermere.com Blog

Posted on October 21, 2019 at 8:08 pm
Sandy Nicholls | Category: Community, Windermere Foundation | Tagged , , , , , , , , , , , , , , , , , ,

Local Market Update – October 2019

While fall usually brings a decrease in sales activity, the opposite was true in September. The number of listings on the market dropped by double digits and home sales rose. With interest rates near historic lows and employment levels at historic highs, the housing market is expected to stay strong throughout the fall and winter.

EASTSIDE

Long the most affluent area of King County, the Eastside continues to record the highest home prices in the region. The median price of a single-family home on the Eastside was $928,500 in September, an increase of 4% from a year ago and a decrease of less than 1% from August. The Eastside construction boom continues, indicating that developers remain confident in the strength of the local economy.

VIEW FULL EASTSIDE REPORT

KING COUNTY

The number of homes on the market in King County fell by almost 20% in September when compared to a year ago. However, last fall saw an increase in inventory that was unusual for the time of year. The median price of a single-family home was $660,000, down just 1% from the same time last year. Cities in King County, outside of Seattle, all saw price increases. Sales were up 7% indicating no shortage of buyers.

VIEW FULL KING COUNTY REPORT

SEATTLE

Prices remained relatively stable, with the median price of a single-family home in September dipping 3% over a year ago to $750,000. As tech companies continue to recruit top talent to the area, Seattle’s population keeps booming and demand for housing remains high. While home sales traditionally dip in the fall, the city saw sales increase by 12% in September as compared to last year. Rising rents may push more buyers into the market.

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

Buyers continue to be drawn to Snohomish County thanks to a strong economy and housing costs that are considerably more affordable than King County. That influx of buyers is also driving up prices. The median price of a single-family home in September was $492,500, up from $484,995 the same time last year. At $167,500 less than the median price in King County, it’s a relative bargain.

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com

Posted on October 18, 2019 at 5:06 pm
Sandy Nicholls | Category: Housing Market News, Local Market Updates, Selling Your Home | Tagged , , , , , , , , , , , , , , ,