Seattle King County Real Estate News

July 19, 2018

Housing Market Slowing Down This Summer

 

Housing prices have recovered greatly since the last recession, but the speed of that recovery could be slowing down soon. Over 100 real estate experts and economists were surveyed about the state of the housing market. More than half say they expect a slowdown in the market by 2020.

 

Currently, the King County real estate market is experiencing some changes. Homes are now staying on the market longer, when only a few months ago listings went pending after just a few days on the market. This is due to the influx of new listings hitting the market at the same time.

 

 In 2016 and 2017, the appreciation in the greater Seattle area was around 13%. Early this year, home prices were at an all-time high since the inventory was low and buyers were competing with other buyers for whatever that was left on the market.

 

Going forward with the rest of the year and entering 2019, we are expecting the home prices to stable off. So, if you are planning to sell this year the home must be well-presented and strategically priced since you are more than likely to receive fewer offers.  If you have any questions regarding your market value for your house or about the current real estate trends that are currently happening, please call or email me.

 

 

 

I would like to take this time to thank and CONGRATULATE my buyers, sellers and investors for the month of JUNE.    

 

 

 

6/05/2018 Susan Jennings

 

6/22/2018 Lani and Jared Emery

 

6/26/2018 Brian Truong

 

6/29/2018 Alex and Sally Yan & Chris Liang and Kelly Wong

 

 

 

Happy Home ANNIVERSARY to my seasoned clients for the month of JULY!

 

 

 

7/12/2011            Pei Ho

 

7/28/2011            Daniel and Kunthida Matteson

 

7/12/2013            Alan and Lien Vu

 

7/26/2013            Jessie Kimes

 

7/08/2014            Jeremy Frank

 

7/07/2016            Brian Barker

 

7/22/2016            Omar Muhammad

 

7/27/2016            Aster Alconcel

 

7/05/2017            Youngji Kim

 

7/24/2017            Michelle Topel

 

 

If you know of anyone looking to buy or sell, please email me and I will gladly assist them. You will receive a $250 Amazon gift card at closing. Thank you for your trust. 

 

 

 

June 19, 2018

Seattle’s condo shortage!

 

Seattle’s condo shortage! 

 

Why are condos a great factor to the housing economy? The ultimate reason is the price entry point for homeownership is more achievable. Studies show that in Seattle, the average condo price was two-thirds the price of the average single-family home on the market in April. Even when considering the condominium homeowner association dues, it’s still a much more reasonable price point. Especially for people looking to buy their first home.

 

The circumstance is only getting worse since condos are not being built. Senior Research Associate Margaret Morales said, “Seattle had only several condominium projects built over the last five years,” The One88 tower was Bellevue’s first condo project in nearly a decade. And at one point in 2017, there were just 355 condos for sale in King County, compared to nearly 3,500 in 2008.

 

Even with these clear benefits and outstanding demand for condos. Why do developers still shy away from condo construction? One of the major reasons is due to the Washington state’s Condo Act. Washington state had to basically modify the state condo law due to the insurance costs and the risk of litigation.   

 

In addition to all these factors, there's only so much room to build in Seattle. It's bounded by water and mountains. The city also has strict regulations when it comes to building apartment and condos, and at least 70% of the land mass in the city is zoned for single family homes. Realtor Association and law makers are working to find a way to improve more condo housing in certain area without affecting too much of our current zoning.

 

For more information on what solutions legislators are working on to address the crisis visit: http://www.nwrealtor.com/2018/06/08/legislators-offer-solutions-to-housing-inventory-crisis/

 

 

 

I would like to take this time to thank and CONGRATULATE my buyers, sellers and investors for the month of MAY.    

 

5/08/2018            Mike and Janet Showalter

 

5/11/2018            Jared Johnston

 

5/17/2018            Geoff and Sopia Wallace

 

5/18/2018            Muhammad and Khushid Islam

 

5/31/2018            Sam Mark and Maddie O'Brien

 

5/31/2018            Tina Sourinephoumy

 

5/31/2018            Zack Pipkin

 

Happy Home ANNIVERSARY to my seasoned clients for the month of JUNE!

 

6/28/2012            Jeffrey Ducharme

 

6/29/2012            James Kendle

 

6/18/2013            Jason Dempsey

 

6/21/2013            Emma Buneci and Saul T. Amezcua

 

6/25/2013            Chao Zhang

 

6/30/2014            Mark and Teresa Friden

 

6/15/2015            Jarrell Taurean Nelson and Andrea Amber Hodges

 

6/23/2015            Sang Ho Lim

 

6/25/2015            David Jernberg and Christina Ferguson

 

6/15/2016            Sakhon Hang and Sourn Leng

 

6/16/2016            Gabriella Hong

 

6/17/2016            Tom and Shirley                Short

 

6/28/2016            Raymond Chan

 

6/02/2017            Anders Simmons and Alison Kairis

 

6/05/2017            Debra Farmer and Robert Kulapaditharom

 

6/08/2017            Marie Sears and Ethan Hua

 

6/09/2017            Geoff Kaiser and Jeanne McCarthy

 

6/23/2017            Cyrus Ednesajjad

 

If you know of anyone looking to buy or sell, please email me and I will gladly assist them. You will receive a $250 Amazon gift card at closing. Thank you for your trust. 

 

May 17, 2018

Seattle home buyers need to be prepared for rejection!

 

Being in real estate for 12 years, I have experienced the changes in the real estate market. Now homes frequently sell for well over asking and receive multiple offers in certain areas. Buyers are typically making four to five offers before they land a house. There is a lot of emotional energy from buyers when they really like a home and want to put an offer on it. I, as their Realtor try my best to come up with an offer that will be appealing to the seller yet will protect my buyer. Preparing the right offer terms is one of the keys to winning the home.

 

 

 

Home prices in Seattle are rising nearly 13% in February from the same time a year ago. This has led to an affordability crisis, and the truth is there are more people looking to buy homes than there are homes available for sale. Seattle's population has been rapidly growing recently thanks in part to its large homegrown businesses like Amazon and Starbucks. These large businesses play a major role in Seattle's economic growth and strength because they employ more than 40,000 workers at its Seattle headquarters.

 

 

 

Home values in King County, which is where Amazon is located, have appreciated twice as fast as the national average. According to ATTOM the average annual home price appreciation from 1995 (when Amazon first launched) to 2018 was 6%. Over the same time period, the national average was just 3%. Due to this home market change, it is more common for buyers to expand their search. Most will have to face the fact that they can’t afford living in the area they initially hoped for.

 

 

 

Despite being a seller's market, Seattle homeowners are hesitant to sell. Why is this?

 

Last year, the city was among the best markets to sell a home, and the average home seller return on investment was 64%, even if they get a good price, sellers are struggling to find a home to trade up to.

 

While the demand is clearly present, there's only so much room to build in Seattle. It's bounded by water and mountains. The city also has strict regulations when it comes to building apartment and condos, and at least 70% of the land mass in the city is zoned for single family homes.

 

 

 

For more information on Seattle’s market data visit: https://www.attomdata.com/

 

 

 

I would like to take this time to thank and CONGRATULATE my buyers, sellers and investors for the month of APRIL.    

 

 

 

4/06/2018 Nick Musso

 

4/25/2018 Jon Butler

 

 

 

Happy Home ANNIVERSARY to my seasoned clients for the month of MAY!

 

 

 

5/27/2011            Rudy and Sally Zamora

 

5/07/2012            Sarah Hertzog

 

5/07/2013            Jun Shao

 

5/08/2014            Isseth and Gerson Ruiz

 

5/07/2015            Jerome Sudoy and Anna Lyn Sale Del Castillo

 

5/11/2015            Kurtis D and Lysa A Walls

 

5/20/2015            John and Brooke Witt

 

5/21/2015            Willie S Canilang and Kathreen Rosario

 

5/28/2015            Sharon Tillmon

 

5/13/2016            Melissa Liu

 

5/31/2016            Tina Sourinephoumy

 

5/31/2016            Jason Lunasin

 

5/03/2017            Ed Rejzek and Rachel Cichowski

 

5/12/2017            John Peeler

 

5/22/2017            Hyunjun Kim

 

5/30/2017            Hassan Ouassou and Hasna Charbadoui

 

 

 

If you know of anyone looking to buy or sell, please email me and I will gladly assist them. You will receive a $250 Amazon gift card at closing. Thank you for your trust. 

 

April 18, 2018

A Huge Thank You!

This year’s 2018 Inspirational Awards Breakfast at Keller Williams Realty Bellevue was such a special celebration of our best year ever and our 20th year in business. Our team received an award for the #1 team in units sold for a team of two in 2017.  I am grateful to have received such an award. I love my Keller Williams Realty Bellevue family! 2017 has been quite the journey but without my wonderful and loyal clients and partners, we won’t be here doing what we love. As many of you may know, last year I formed a team with two other licensed realtors.

In our team of three we have Ugis Beitlers, a graduate of the University of Washington with a bachelor’s Degree in civil engineering. He has worked as a design engineer since graduation with areas of focus ranging from electrical distribution utility to stormwater drainage design for new and existing properties. Ugis is a huge asset to the team by being able to provide insight from his past work experience as well as his ability to communicate effectively on all levels. We also have Andrea Roman is currently attending Bellevue College where she studies interior design. Andrea’s visualization skill is a huge benefit to our team. With her many talents, she is the office manager who keeps track of the transactions/marketing and making sure everything is organized and running smoothly.       

Our mission begins with our dedication to you. For us, there is no more important aspect of real estate than serving our clients. Our expectation each and every time is to deliver an experience from which you will thrive from for the rest of your life. We believe that referrals are more important than simply a sale from a client which is why if you don’t recommend us to your family and friends, then we didn’t do our job. We believe in not only providing the best service that you can experience in this market, but also with that service you will gain the knowledge of the entire process from start to end from our repeated connectivity with you. When you have a team with an interior designer, architectural designer and engineering background, we got you covered in buying a home or selling your house for top dollar. Your interest comes first. Always. For 2018, please help us reach our goal of serving 70 buyer and seller clients!

 

Check our Team’s Facebook page to see the full post and pictures of the awards!

https://www.facebook.com/Seattlekingcountyhomes/

 

I would like to take this time to thank and CONGRATULATE my buyers, sellers and investors for the month of MARCH.    

 

3/19/2018 Greg Carlson and Christine Gunlogson

 

Happy Home ANNIVERSARY to my seasoned clients for the month of MARCH!

 

4/11/2011            Charlie and Melissa Liu

4/19/2012            Rick and Monica Ioset

4/04/2013            Charice Pennie

4/26/2013            Omar and Amanda Vega

4/04/2014            Catherine Kayo Yoshimoto

4/11/2014            Whitney Showalter

4/16/2015            Neil William Cates

4/28/2015            William Chamberlain and Alice Katrina May

4/04/2016            Jeannie Shek

4/08/2016            Rebekah Cason and Vikram Sami

4/14/2017            Pamela Curlee

4/21/2017            Craig and Robin Ware

4/28/2017            Sarah Getter

If you know of anyone looking to buy or sell, please email me and I will gladly assist them. You will receive a $250 Amazon gift card at closing. Thank you for your trust. 

 

March 21, 2018

Price Jump In Seattle!

Seattle has experienced a price jump of $20,000 in the month of February. Although the $20,000 one month jump in prices is specific to inside the city limits, it doesn’t mean prices are much less expensive in the suburbs. According to the U.S. Census bureau, they consider the metro area to run from the city of Everett in the north through many heavily populated suburban cities to Seattle in the middle. It then extends southward through many more suburban cities to Tacoma. This area contains more than 4 million people which is over half of the state’s population. East of Lake Washington and into the foothills is the City of Bellevue. A suburb of Seattle and the second largest city in the state. These homes located on the eastside have an average price higher than Seattle at $950,000 and quickly approaching $1 million.

Within this region, there are many major employers such as Boeing, Microsoft, and Amazon.

It has taken the world a long time to discover what Seattle and the region offer. But today, people are plopping down almost $1 million to live in homes that cost $200,000 or less in most parts of the country.

 

For more information on Seattle’s price jump visit: www.king5.com/article/money/markets/real-estate/seattle-median-home-prices-jump-20000-in-a-month-to-777000/281-526621955

 

I would like to take this time to thank and CONGRATULATE my buyers, sellers and investors for the month of FEBUARY.    

 

2/13/2018            Jeremy Frank

2/27/2018            Tupo and Mathew Wells

 

Happy Home ANNIVERSARY to my seasoned clients for the month of MARCH!

 

3/01/2012            Kelly and Kathleen Bennett

3/26/2013            Loy Kalepo

3/29/2013            Barb Grubb and John Williams

3/29/2013          Jami Armstrong and Katie Auger

3/29/2013            Janie and Chris Koch

3/11/2014            Rudy and Melissa Woods

3/18/2015            Steven Golbeck and Tatjana Nijemcevic

3/25/2015            Brian Truong

3/18/2016            Jeff Berg

3/25/2016          Thomas O’Conner

3/31/2016            Desiree Alva and CJ Tolton

3/07/2017            Kris and Joann Ware

3/14/2017            Kelvin Guan

3/14/2017            Paul and Joanna Lyons

3/15/2017            Craig and Leilani Raglin

3/31/2017            Megan Kim and Stephan Hong

 

If you know of anyone looking to buy or sell, please email me and I will gladly assist them. You will receive a $250 Amazon gift card at closing. Thank you for your trust. 

Feb. 20, 2018

Change in our Interest Rate!

 

Why do the Fed’s wanting to change our interest rates, let alone raise them?  Because changing the interest rates can stimulate economic growth and fight inflation. While acting may have negative consequences, doing nothing can have a detrimental effect as well.

It is predicted that interest rates will be increasing this Summer. How does this affect homeowners and buyers? If the interest rate is high, living cost, business and investing are also harder to come by. The buyer purchase price will go down, meaning the seller will have less competition for their home, and typically stabilize home prices.

 As a homeowner it is important to be aware of the possible changes, as it can affect us. If interest rates jump as high as 4.8% this Summer, I would say it might be an appropriate time to sell if you are planning to reinvest your funds. From my book of business, 2018 is going to be a transition year. We will have to look closely on when the rise of interest rates will take place. Thanks.

 

For more information on why the Fed changes interest rates, and the effects of changing interest rates visit: https://money.howstuffworks.com/fed-change-interest-rate1.htm

 

I would like to take this time to thank and CONGRATULATE my buyers, sellers and investors for the month of JANUARY.    

 

1/16/2018            Kevin G Marshall

1/18/2018            Grant Slatton Thomas

1/23/2018            Michael Black

 

Happy Home ANNIVERSARY to my seasoned clients for the month of FEBUARY!

 

2/27/2013            Amber Hoffman

2/14/2014            Priscilla Schmidt

2/24/2015            Jasmine Andrea Ramirez

2/5/2016              Chloe Yester

2/12/2016            Alex and Sally Yan

2/18/2016            Kaitlyn Jackson and James Collins

2/3/2017              Dez and Jennine Ellis

2/24/2017            Stephanie Leung

2/28/2017            Priscilla Schmidt

2/28/2017            Andre Gill McVey

 

If you know of anyone looking to buy or sell, please email me and I will gladly assist them. You will receive a $100 gift card at closing. Thank you for your trust. 

Jan. 8, 2018

Update your home without major renovations!

 

Create and open floor plan: Studies show that majority of people prefer a home with an open floor plan. This can be as simple as getting rid of bigger, bulkier furnishings, or moving furnishings around the room to see what placement gives the most open space. If you have a lot of mismatching furniture, try painting them one color. Consider an off-white color this will help it disappear into the room. You can also trick the eye by adding mirrors. A mirror gives the illusion of an open space. Try placing them opposite of windows to reflect light into the room and make the room seem more open.

Add new lighting fixtures: By simply replacing old lighting fixtures to new ones can completely change the look of a space. Try adding fixtures with a sleek modern design. Make sure to also have the right lighting. Adding a floor lamp to an empty dark corner can brighten up the space and make the room appear larger.

Update drawer pulls and door handles: You can give your furniture a unique appeal by switching up the hardware. Mixed metals like bronze, brushed nickel, aged copper are on trend. Not only can you switch up your furniture hardware but try your kitchen cabinetry, even your door knobs can be an excellent choice.

Add easy to install and remove wallpaper: Instead of painting all your walls a vibrant color, try having an accent wall by adding some wallpaper. This can add depth, dimension, and texture to a room.

Add Plants: Try adding a variety of plants throughout your home. This will help make the space more vibrant. Not to mention the health benefits are great, the greener the better!

 

 

I would like to take this time to thank and CONGRATULATE my buyers, sellers and investors for the month of DECEMBER.    

 

12/21/2017     Caitlin Anne Luebbe

12/28/2017     Mark Sieklucki

12/28/2017      Aubre Murray

 

Happy Home ANNIVERSARY to my seasoned clients for the month of JANUARY!

 

1/19/2012       Vijay and Veni Rangarajan

1/09/2013       Jia Zeng and Yen Khong

1/18/2013       Amber Miller

1/25/2013       Steve Lee

1/08/2014       Meghan and Danny Stallings

1/16/2015       Chris Schwendiman

1/20/2015       Jeffrey Ducharme

1/21/2015       Michael Braden

1/22/2016       Kris and Joann Ware

1/09/2017       Cobie Davin

1/19/2017       Sara and Jasen Thomas

 

If you know of anyone looking to buy or sell, please email me and I will gladly assist them. You will receive a $100 gift card at closing. Thank you for your trust. 

Dec. 13, 2017

2018 Real Estate Market and Boomerang Buyers

2018 Real Estate Market and Boomerang Buyers

With a few weeks left to enter the new year, it is critical that we know where to focus our time, energy and money. As a buyer, seller or investor it is important to have an idea of what type of market you’re facing in 2018. From July 2017 through July of 2018, it is predicted that home prices will continue to increase by 5 percent. Mortgage rates are expected to increase as well. Homes will become less affordable, and many will be knocked completely out of the buyer pool. However, the Boomerang Buyers may just make up for the loss of the cash-strapped buyer. According to National Center for Policy Analysis It was estimated that as many as 10 million Americans were forced into foreclosure, the effects of this recession officially ended in June 2009. The waiting period after a foreclosure is around seven years, except for those that were able to cut the wait to three years. With these bankruptcies about to be discharged, or have already been, means we are likely to see an avalanche of homebuyers hitting the market. It’s important to have a plan, make the right financial decisions, and be aware of the changes that are expected to happen as we enter in the new year.

 

Resources: http://www.ncpa.org/sub/dpd/index.php?Article_ID=25643

 

I would like to take this time to thank and CONGRATULATE my buyers, sellers and investors for the month of NOVEMBER.    

 

Jami Armstrong and Katie Auger

Meghan Zech and Gionata Salemme

 

Happy Home ANNIVERSARY to my seasoned clients for the month of DECEMBER!

 

12/03/2010 Jeff Shoffner

12/29/2010 Annie Gu

12/10/2012 Theresa Simolin

12/14/2012 Peter and Connie Gallagher

12/13/2013 Ha Nguyen

12/19/2013 Jeff Powel and Qi Wang

12/24/2013 Denise and Sydney Brown

12/11/2015 Tenzin Ghongpa                                                    

12/18/2015 Stephanie and Andrae Ross

12/23/2015 Caitlin Roper and Anthony Fernandez

12/28/2015 Vu Anh Vo

12/30/2015 Michelle Esteban

12/8/2016 Megan and Stephen Hong

12/16/2016 Nico and Jason Diem

12/16/2016 Arturo Ramirez and Cody McDonald

12/21/2016 Rob Allen and Dorothy Cheng

12/30/2016 Aisyln Angell

If you know of anyone looking to buy or sell, please email me and I will gladly assist them. You will receive a $100 gift card at closing. Thank you for your trust. 

 

Nov. 10, 2017

Reasons why selling your home in the winter season could benefit you.

Reasons why selling your home in the winter season could benefit you.

 

Selling your home during the busy winter season sounds like a hassle, however here are some reasons why listing your home could be a great strategy.

 

1.      Many buyers have been on the hunt to find a home for a while, but with all the competition in the spring and summer time they just haven’t been able to find the right one. Which means you are more likely to find the right buyers who are motivated to buy your house.

 

2.      Other sellers are less likely to list their homes during the winter season. Less homes for sale means less competition. With less competition, you are more likely to get more home tours and offers on your home.

 

3.      Staging can be used to your advantage. Winter season means holiday season. Making your home look cozy, inviting and festive can really make a buyer picture their families celebrating holidays in the home next winter. However, don’t go overboard on decorations. Less means more.

 

 

 

I would like to take this time to thank and CONGRATULATE my buyers, sellers and investors for the month of OCTOBER!

 

Jordan Cox

Greg and Cristine Gunlogson

 

Happy Home ANNIVERSARY to my seasoned clients for the month of NOVEMBER!

 

11/01/2012 Sinri and Shanthi Raghavan

11/28/2012 Joe and Caryl Culumber

11/17/2014 Jennifer Juno

11/06/2015 Peter Tran

11/18/2015 Joe Stone

11/20/2015 Socrates and Kay Kay Chan

11/30/2015 Barbara Watanabe

11/23/2016 Sandy Luckett

11/29/2016 Anthony Saysack

 

If you know of anyone looking to buy or sell, please email me and I will gladly assist them. You will receive a $100 gift card at closing. Thank you for your trust. 

Oct. 19, 2017

The Holiday Season is here!

The Holiday Season is here!

 

With all the busy holiday preparation heading our way, find the time to enjoy the festive activities with family and friends. Here is a list of a few things you should plan to do this Holiday season.

 

 Snowflake Lane at the Bellevue Collection: Enjoy the performance of costumed winter wonderland characters as they march and parade down the street to holiday music and lights.

 Ice Arena: Gather a group of friends and family and make your way down to the Ice skating ring located in Downtown Bellevue.

 KidsQuest’s Gingerbread lane: Make your way to the KidsQuest’s Museum’s Gingerbreads house workshop and build a festive gingerbread home with your kids. Workshop located in the Hyatt Regency Bellevue.

 Celebration Lane:  Bellevue Collection hosts a nightly event Between December 26-31 to celebrate the new year approaching. Join the celebration with music, bright lights and holiday characters.

 

 

I would like to take this time to thank and CONGRATULATE my buyers, sellers and investors for the month of SEPTEMBER.

 

Chris and Emily Merritt

 

Happy Home ANNIVERSARY to my seasoned clients for the month of OCTOBER!

 

10/13/2011 Russ Broeckel

10/5/2012 Nanci and Gary Pickrell

10/29/2013 Henry and Carmen Tran

10/6/2014 Minh Thai Do and Mai Thi Thuy Truong

10/15/2014 Marti Jonjak

10/23/2014 Beb Santo

10/30/2014 John and Sonia Choi

10/2/2015 Albert Torres and Sarah Burai

10/9/2015 Joe and Yuan Uccello

10/9/2015 Elizabeth Joseph

10/22/2015 Duong Thai Do and Thao T. Pham

10/23/2015 James Porter

10/26/2015 Naoki and Laura Iwane

10/11/2016 Mark Siwek and Audrey Udashen

10/11/2016 Katie Benjamin

10/27/2016 Jason and Nico Bonincontri

10/27/2016 Jeff and Jamie Willougby

 

If you know of anyone looking to buy or sell, please email me and I will gladly assist them. You will receive a $100 gift card at closing. Thank you for your trust.