Kick off the holiday season with a community tree lighting celebration. Thanksgiving falls late on the calendar this year, so the Christmas festivities will be right on it’s heels. Some of these celebrations start as early as the day after Thanksgiving!
The bigger celebrations feature Santa’s arrival, and most of the communities will have fun activities designed to put you and your family in the holiday spirit. live music, refreshments, crafts, and other fun activities. Santa will make an appearance at most of these as well.
Nov. 29 – Bellevue at Bellevue Place
Nov. 29 – Seattle at Westlake Center
Nov. 30 – Seattle at Pike Place Market
Nov. 30 – Tacoma at the Broadway Center
Nov. 30 – Edmonds at Centennial Plaza
Dec. 1 – Bothell on Main Street
Dec. 1 – Olympia at Sylvester Park
Dec. 6 – Mercer Island at Mercerdale Park
Dec. 6 – Mountlake Terrace at Evergreen Playfield
Dec. 6 – Renton at Coulon Park
Dec. 6 – Sammamish at City Hall
Dec. 6 – University Place (south of Tacoma)
Dec. 7 – Kenmore at City Hall
Dec. 7 – Kent at Kent Town Square Plaza
Dec 7 – Lynnwood at City Hall
Dec. 7 – Mill Creek on Main Street
Dec 7 – Mukilteo at Rosehill Community Center
Dec. 7 – West Seattle at West Seattle Junction
Dec 7 – Woodinville at DeYoung Park & Wilmot Gateway Park
Last month, I did an analysis on the new phenomenon of a dual market. A dual market is when you have different market conditions within the same overarching real estate market. This duality presents amazing opportunities for sellers who are also buyers, depending on where they want to go. I reported on two dual markets, the move-up market and the move-out market. Another dual market that deserves to be shared is the condo market compared to single-family residential.
In September, single-family residential homes in Seattle Metro had an absorption rate of 43% while condos were at 27%. Months of inventory based on pending sales for single-family residential was only 1.9 months of available inventory, and condos, 3.5 months! That is the difference of a seller’s market for single-family residential to a balanced market for condos. After many solid years of strong appreciation, folks that are looking to cash out the equity on their single-family residential homes and move to a condo have the opportunity to move their investment with a sizable down payment and upgrade to a lifestyle that is often stair-free with less maintenance.
The median price for a condo in Seattle Metro in September was $455,000 and for a single-family residential home, $750,000. The median price for a condo in south Snohomish County is September was $343,000 and for a single-family residential home, $569,000. It is common for folks to sell their long-time family home and downsize into a condo and pay all cash. The buildup of equity over the years and paying down their loans allow for large cash-outs and easier all-cash purchases.
If one is getting a loan though, it is important to highlight today’s interest rates. They are a point lower than they were a year ago, affording buyers 10% more buying power. For example, a one-point-lower rate on a purchase at $500K will now afford a buyer the purchase of a home at $550K with the same monthly payment. Couple that with price appreciation tempering and you have a perfect downsizing market, which often includes condo purchases!
If you are curious about moving from a single-family home to a condo and the opportunity this dual market presents, please reach out. It is my goal to help keep my clients educated and empowered to make strong decisions. This is especially rewarding when it leads to their next chapter in life, which are amazing transitions to be a part of.
Did you know that giving thanks on a daily basis can reduce your trips to the doctor, increase your overall happiness, improve personal relationships, and lead to more exercise? Sounds like a magic pill to me, and it’s free! Harvard Medical School recently released a study that speaks to the benefits of practicing gratitude. With Thanksgiving approaching, challenge yourself to write down your gratitudes daily, and see how it goes.
It’s true! A listing agent’s goal is to get their listing sold to a qualified buyer who will close. However, a good listing agent also realizes that once a home is under contract, they now have to sell the house to the appraiser if the buyer is getting a loan. You see, a buyer cannot complete their financing if the appraisal does not come in at the same value or higher than the agreed-upon contract price. A good strategy, especially if the price escalates above the list price, is for the listing agent to prepare an appraisal packet and meet the appraiser or share it with them via email. This gives the listing agent the opportunity to share their research and the story of the demand surrounding the property. This is some extra effort, but so worth it to ensure success for the seller!
We all know that nothing lasts forever, but when everything is working fine it is easy to forget that all of the systems and appliances in your home have a finite lifespan. Keep this information in mind, whether you are buying or selling a home, budgeting for improvements, or deciding between repairing and replacing.
Here’s a brief look at some of the components of your home and their average lifespans (courtesy of the National Association of Home Builders)
ROOFING, SIDING, WINDOWS & DECKS. You can expect slate or tile roofs to last around 50 years, wood shingles 25-30, metal will get you about 25 years, while asphalts typically last about 20 years. The lifespan for siding can vary quite a bit. Brick will last 100 years or more, aluminum about 80 years and stucco will probably last you 25 years. Wood siding can last anywhere from 10 to 100 years depending on the climate you live in and how it is maintained. Both aluminum and vinyl windows will last 15 to 20 years, while unclad wood windows can have a life of 30 years or more. Cedar decks will average 15-25 years as long as they are properly treated and cleaned, and a high quality composite deck will last 30 years with minimal maintenance.
FLOORING. The natural flooring materials such as wood, marble, slate or granite will all last 100 years or more, while tile has an average life of 70-100 years. Vinyl can last up to 50 years, while laminate and linoleum will get you up to 25 years. Expect your carpet to last 8-10 years, depending on use.
KITCHEN & BATH. Laminate countertops can have a life of 20 years or more, but it will vary depending on use. Wood, tile and stone should last a lifetime, and cultured marble will typically see a lifespan of 20 years. You can expect your stainless steel sink to last you about 30 years, while an enamel-coated sink will give you five to 10 years. Slate, granite, soapstone and copper will be around for 100 years or more. Bathroom faucets should give you about 20 years, and toilets will average a 50-year lifespan, although some of the parts will need replacing.
APPLIANCES. The lifespan of appliances will vary widely depending on the appliance, the brand, model, and use. Use these average lifespan numbers as a rough guide for when it may make more sense to replace rather than repair. Gas ranges tend to have the longest lifespan of your major appliances, giving around 15 years of use. Electric ranges on the other hand, are closer to 13 years, which is also the expected lifespan for standard refrigerators and clothes dryers. Your garbage disposal should give you about 10 years of use, while the dishwasher and microwave will be around nine years. You can expect your electric furnace to last about 15 years, 18 for gas and 20 for oil-burning. Central air systems will live 10 to 15 years on average.
Check out the NAHB website for more information.
The warmer weather means that your favorite movie is no longer relegated to a dark stuffy room. Grab the folding chairs, blankets and popcorn, and check out a few of these fun outdoor movies.
Outdoor Movie Schedule: Summer 2019
6/21 The Lego 2 Movie
7/19 Spider Man: Into the Spider-Verse
Frances Anderson Center Field
8/2 A Wrinkle in Time
Thornton Sullivan Park, Camp Patterson Field
7/19 Incredibles 2
7/26 Ralph Breaks the Internet
8/2 The Lego Movie 2
8/9 Spider Man: Into the Spider-Verse
8/16 How to Train Your Dragon: The Hidden World
Port of Everett North Guest Docks 6 & 7 (by boat) or Boxcar Park (by land)
8/2 Remember the Titans
8/9 Pirates of the Caribbean
8/16 The Proposal
7/13 A Dog’s Way Home
7/20 Ralph Breaks the Internet
8/3 Incredibles 2
8/10 The Karate Kid
Lake Tye Park
8/2 The Incredibles 2
8/9 Ralph Breaks the Internet
8/16 Mary Poppins Returns
8/23 Black Panther
Willis Tucker Park (Snohomish)
7/25 The Incredibles 2
8/1 How to Train Your Dragon: The Hidden World
Lake Stevens Community Park
8/8 Jurassic World: Fallen Kingdom
8/15 Mary Poppins Returns
7/9 Hotel Transylvania 3
7/16 A Dog’s Way Home
7/30 How to Train Your Dragon: The Hidden World
8/6 The Lego Movie 2
8/20 Wonder Park
8/27 Back to the Future
8/1 Christopher Robin
8/8 Ralph Breaks the Internet
8/15 The Incredibles 2
8/22 Mary Poppins Returns
Carillon Point Plaza
7/6 Mean Girls
7/20 Crazy Rich Asians
8/3 The Incredibles 2
8/17 Solo: A Star Wars Story
7/10 Ferris Bueller’s Day Off
7/17 Bohemian Rhapsody
7/24 Spider Man: Into the Spider-Verse
7/31 Top Gun
8/7 The Incredibles 2
8/13 The Sandlot
8/28 The Princess Bride
Seattle Center Mural Amphitheatre
7/19 Wayne’s World
7/20 Spider Man: Into the Spider-Verse
8/17 The Lego Movie 2
Hing Hay Park
8/3 Crazy Rich Asians
8/10 Iron Monkey
Seattle Center Mural Amphitheatre
7/27 The Princess Bride
8/3 Crazy Rich Asians
8/10 Bohemian Rhapsody
8/17 Dirty Dancing
8/24 Black Panther
Peddler Brewing Co Beer Garden
5/30 The Goonies
6/13 Super Troopers
6/20 Indiana Jones: Raiders of the Lost Ark
6/27 Mean Girls
7/11 The Hangover
7/18 The Princess Bride
7/25 10 Things I Hate About You
8/1 Back to the Future
8/8 Point Break
8/15 Pitch Perfect
8/22 The Sandlot
8/29 The Big Lebowski
South Lake Union Discovery Center (21+)
6/22 The Matrix: 20th Anniversary
7/20 Bill & Ted’s Excellent Adventure: 30th Anniversary
8/17 The Life Aquatic
Skyway Outdoor Cinema
8/2 Incredibles 2
8/9 The Princess Bride
8/23 Spider Man: Into the Spider-Verse
Windermere Community Service Day is coming! This tradition was established in 1984 to offer agents and staff a chance to volunteer an entire workday to give back to the neighborhoods in which they live and work.
On June 7th, my office will spend the day with the Snohomish Garden Club working on the Martha Perry Veggie Garden, constructing trellises, staking beds, planting, weeding, labeling and sprucing everything up.
Last year, the Snohomish Garden Club provided 8,000 pounds of fresh produce to the Snohomish and Maltby Food Banks. The land for the garden is generously donated by the Bailey Family Farm.
Two full truckloads of paper were safely shredded and recycled.
We love providing this service for our clients, friends and neighbors, but what we’re really excited about is how you all gave back to the community. Your donations provided 534 pounds of food and $1,129 to benefit Concern for Neighbors food bank. Thank you!
When you shop at a local Farmers Market, you’re buying outstanding freshness, quality and flavor. Knowing exactly where your food comes from and how it was grown provides peace of mind for your family. Plus, you’re supporting a sustainable regional food system that helps small family farms stay in business; protects land from development, and provides the community with fresh, healthy food. Find one near you!
I am pleased to present the first-quarter 2019 edition of the Gardner Report, which provides insights into select counties of the Western Washington housing market. This analysis is provided by Windermere Real Estate Chief Economist Matthew Gardner. I hope that this information will 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.
We are collecting vegetable seeds and starts for the Martha Perry Garden, where volunteers grow thousands of pounds of fresh produce every year for local food banks.
My office will be spending a volunteer day in the garden for our annual Community Service Day in June. In addition to our labor, we will gift them all of the vegetable seeds and starts collected between now and then.
All seeds should be no more than a year old, although fresh seeds are preferred.
Basil, Beets, Cabbage, Carrots*, Cauliflower, Chard, Cucumbers, Green Beans, Herbs, Marigolds, Peppers, Radishes, Summer Squash, Snow Peas, Tomatoes, Winter Squash, Zucchini
Starts of cucumbers, winter & summer squash, cole crops (cabbage, cauliflower, broccoli, kale, etc) are especially welcome
Drop seeds off at my office through June 6th
4211 Alderwood Mall Blvd #110, Lynnwood
Mon-Friday: 8am-5pm & Sat-Sun: 9am-3pm
Months of inventory has reduced as we finished out the first quarter of 2019. Months of inventory is the amount of months it would take to sell out of homes if no new listings came to market. This illustrates the balance between supply and demand. We peaked at 2.9 months in September of 2018 and found ourselves at 1.2 months this March.
The first quarter of 2019 saw 2,306 new listings and 2,096 pending sales – demand tracked quite well with supply! It remains a seller’s market (0-3 months of inventory), but not as constricted of a market as last year, which saw an average of 0.8 months in the first quarter compared to 1.5 months this year. As we head into spring, we should see continued growth in new listings and demand will be strong, fueled by low interest rates and positive jobs reports.
The second half of 2018 had a large influx of homes that came to market, and an interest rate jump which created a gap between supply and demand. Buyers enjoyed some negotiations and credits in the fall and winter due to more selection, but as interest rates reduced in the first quarter, we saw demand increase. This is helping to absorb inventory and reduce the average days on market it takes to sell a home. Median price is up 7% complete year-over-year, which is still higher than the 4% norm, but much less than the unsustainable 12% gains from 2017 to 2018. This balancing out in the market has been a positive phenomenon as affordability has been a challenge for many. Both sellers and buyers are finding great opportunities in the current market.
This is only a snapshot of the trends in south King County; please contact me if you would like further explanation of how the latest trends relate to you.