April 2018

Some Highlights: According to the latest Existing Home Sales Report from the National Association of Realtors, sales grew 1.1% in March to an annual pace of 5.60 million. This is the strongest pace since November of 2017. Inventory levels dropped year-over-year for the 34th consecutive month and are now 7.2% lower than March 2017 levels, representing a 3.6-month...

A new study by WalletHub used “30 key metrics, ranging from share of millennials to millennial unemployment rate to millennial voter-turnout rate” to find out which states are the ‘Best States for Millennials.’ The Top 5 Best States for Millennials are: Washington, D.C. (also ranks highest in percentage of millennials already living there!) North...

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 The Washington...

Listed for $805,000 Click Here for Details Charming home in Coventry on English Hill. The light filled, 1,950 s.f. floorplan features 3 bedrooms, 2.25 baths on a sunny 7,486 s.f. lot.  The open entry welcomes you in with beautiful hardwood floors and an elegant staircase with wainscoting. Formal living room with bay window overlooking the well manicured front yard. Formal dining room with sunny...

It’s no mystery that cost of living varies drastically depending on where you live, so a new study by GOBankingRates set out to find out what minimum salary you would need to make in order to buy a median-priced home in each of the 50 states, and Washington, D.C. States in the Midwest came out on top as most affordable, requiring the smallest salaries in order to buy a...

Some homeowners have recently done a “cash out” refinance and have taken a portion of their increased equity from their house. Others have sold their homes and purchased more expensive homes with larger mortgages. At the same time, first-time buyers have become homeowners and now have mortgage payments for the first time. These developments have caused concern that families might be reaching...

Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months! The credit score requirements for mortgage approval continue to...

Sold for $648,950 Click Here for Details Stunning townhome in the desirable Villas at Mondavio in Redmond. The spacious floorplan boasts 1,368 s.f. and features 2 bedrooms, 2.25 baths, den and a 2 car tandem garage. The open entry welcomes you with rich hardwood floors. Living room includes an electric fireplace with tile surround. Large kitchen with ample cabinets, granite tile counters, designer...

Over the next five years, home prices are expected to appreciate, on average, by 3.6% per year and to grow by 18.2% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey. So, what does this mean for homeowners and their equity position? As an example, let’s assume a young couple purchased and closed on a $250,000 home this January. If we only look...

Sold for $956,000 Click Here for Details Stunning, remodeled home in the desirable neighborhood of Forbes Creek in Kirkland. The spacious floorplan boasts 2,520 s.f. and features 4 bedrooms, 2.5 baths on a 9,350 s.f. lot. Updates include - fresh paint, newer carpet, white millwork, new doors, refinished hardwood floors, double pane windows and a brand-new kitchen.  The open entry welcomes you...

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market...

Some Highlights: A trend that has been emerging for some time now is the contrast between inventory & demand in the Premium & Luxury Markets vs. the Starter & Trade-Up Home Markets and what that’s, in turn, doing to prices! Inventory continues to rise in the luxury & premium home markets which is causing prices to cool. Demand continues to rise with low inventory in the...

Whether you are a buyer searching for your first home, or a homeowner looking to move up to your next home, you should pay attention to where mortgage interest rates are heading. Over the course of 2018, according to Freddie Mac’s Primary Mortgage Market Survey, rates have increased from 3.95% in the first week of January to 4.40% in the first week of April. At first glance, the...

When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI). What is PMI? Freddie Mac defines PMI as: “An insurance...

According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment. The BH&J Index is a quarterly report that attempts to answer the question: In today’s housing market, is it better to rent or buy a...

Some Highlights: Since the creation of the VA Home Loans Program, 22 million veterans have been able to achieve the American Dream of homeownership. In 2017, $188 billion was loaned to veterans and their families through the program. VA Purchase Loans are on the rise in 46 out of 50 states and Washington,...

Tony is awesome! We are a repeat customer, having used Tony 3 times. Tony does everything better than expected. He is always available and knows all the answers. Tony is the best! John and Monica Watson Sold in Woodinville - June...

Tony is a true professional. I believe his extensive knowledge in the local market, relationship with other real estate professionals and his strong negotiation skill helped me to sell my place above listing price in a week. Not to mention, he and his wonderful assistant Alise made the entire process as stress free as possible--they were on top of all the paperwork and closing dates. All of my questions...

KIRKLAND, Washington (April 5, 2018) - Job growth and a recent run-up in mortgage rates has created an "extremely intense market for each new listing," stated J. Lennox Scott, chairman and CEO of John L. Scott Real Estate in commenting on the latest statistics from Northwest Multiple Listing Service. MLS figures for March show a surge in both new listings and pending sales compared to February as...

We greatly appreciated the early engagement, strategy on what to repair, prioritizations, etc. that helped us prepare for the eventual sale.  While some agents would inject a certain amount of pressure to get to market as quickly as possible, Tony and Wendi were engaged, creative and realistic in helping us map the road ahead.   The team exuded confidence and knowledge on the market and full sales...

Our experience has been great, and we did not feel like there were any shortcomings in the service. It was a really great home buying experience for us. This being our first home purchase, we were very nervous about the whole process as such, but it was very comforting to know that Tony was available for a chat immediately. Tony's knowledge and insights were not just limited to the transaction, but he...

How do you select the members of your team who are going to help make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or lender? The most important characteristic that you should be looking for in your agent is someone who is going to take the time to really educate you on the choices available to you and your ability to buy in...

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Realtor.com recently reported that: “Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many...

Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put your housing costs to...