May 2018

Some Highlights: Existing Home Sales are now at an annual pace of 5.46 million. Inventory of existing homes for sale dropped to a 4-month supply, marking the 35th month in a row of declines. The median price of homes sold in April was $257,900. This is the 74thconsecutive month of year-over-year price...

Staging: Tony gave us clear pointers on how to get the house ready for the sale, and which staging actions had the biggest impact on raising buyers interest. The feedback was helpful and helped us get the house ready well in advance of the first open house and picture day. Marketing: The pictures were great, and the aerial video really helped get a get overview of the house and its surroundings. The...

In this extremely hot real estate market, some homeowners might consider selling their homes on their own which is known as a For Sale by Owner(FSBO). They rationalize that they don’t need a real estate agent and believe that they can save the fee for the services a real estate agent offers. However, a study by Collateral Analytics reveals that FSBOs don’t actually...

Interest rates for a 30-year fixed rate mortgage have climbed from 3.95% in the first week of January up to 4.61% last week, which marks a 7-year high according to Freddie Mac. The current pace of acceleration has been fueled by many factors. Sam Khater, Freddie Mac’s Chief Economist, had this to say: “Healthy consumer spending and higher commodity prices spooked bond...

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 4.61%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply...

Recently released data from the National Association of Realtors (NAR) suggests that now is a great time to sell your home. The concept of ‘supply & demand’ reveals that the best price for an item is realized when the supply of that item is low and the demand for that item is high. Let’s see how this applies to the current residential real estate market. SUPPLY It is no...

Some Highlights: According to the US Census Bureau, ‘millennials’ are defined as 18-36-year-olds. According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 32. More and more ‘old millennials’ (25-36) are realizing that homeownership is within their grasp...

Mortgage interest rates have risen by more than half of a point since the beginning of the year, and many assume that if mortgage rates rise, home values will fall. History, however, has shown this not to be true. Where are home values today compared to the beginning of the year? While rates have been rising, so have home values. Here are the most recent monthly price increases reported in...

Sold for $1,875,000 Click Here for Details This custom built, Dutch Colonial home was recently remodeled featuring 4 bedrooms, 3.25 baths, den, bonus, 4,630 s.f. and a park-like lot. Located on a private 36,661 s.f. lot, ideally positioned in the easily accessible English Hill area of Redmond. Elegant home with East Coast charm. Craftsmanship shows throughout with ample molding, wainscoting and...

Every year, the New York Federal Reserve publishes the results of their Survey of Consumer Expectations (SCE). Each survey covers a wide range of topics including inflation, labor market, household finance, credit access and housing. One of the many questions asked in the housing section of the survey was: Assuming you had the financial resources to do so, would you like to OWN...

So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. Oftentimes, agents make your offer contingent on a clean home inspection. This contingency allows you to renegotiate the price you paid for the home, ask the sellers to cover repairs, or even, in some cases, walk away. Your agent can advise you on the best course of action once the...

Some Highlights: Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking much about it. Living within a budget right now will help you save money for down payments while also paying down other debts that might be holding you back. What are you willing to cut back on to make your dreams of homeownership a...

Starting late last year, some predicted that the 2018 tax changes would cripple the housing market. Headlines warned of the potential for double-digit price depreciation and suggested that buyer demand could drop like a rock. There was even sentiment that homeownership could lose its coveted status as a major component of the American Dream. Now that the first quarter numbers are in, we can begin to...

Every year, Gallup surveys Americans to determine their choice for the best long-term investment. Respondents are given a choice between real estate, stocks/mutual funds, gold, savings accounts/CDs, or bonds. For the fifth year in a row, real estate has come out on top as the best long-term investment! This year’s results showed that 34% of Americans chose real estate, followed by...

This was our third transaction with Tony and we remain impressed. Here are some of the points that we felt really stood out: Staging: Tony & Wendi’s advice was spot on when it came to selling our first home. The same was true this time! The walk throughs and advice really made our property shine. Marketing: Both times, our marketing was first class! Today that includes spectacular drone...

KIRKLAND, Washington (May 7, 2018) - Home buyers may be cheered by an uptick in inventory, but the improving supply is unlikely to reverse rising prices, suggest industry leaders from Northwest Multiple Listing Service. Commenting on just-released figures for April, which showed the highest level of active listings since August, OB Jacobi, president of Windermere Real Estate said, "For the first...

Some Highlights: The National Association of REALTORS® recently surveyed their members for their Confidence Index. The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions. Homes...

With home prices rising again this year, some are concerned that we may be repeating the 2006 housing bubble that caused families so much pain when it collapsed. Today’s market is quite different than the bubble market of twelve years ago. There are four key metrics that explain why: Home Prices Mortgage Standards Mortgage Debt Housing Affordability 1. HOME PRICES There is no doubt...

Sold for $960,000 Click Here for Details Stunning, Buchan built home in the desirable neighborhood of Trossachs in Sammamish. The grand floorplan boasts 2,790 s.f. and features 5 bedrooms, 2.75 baths on a lush 13,292 s.f. lot. The spacious entry welcomes you with custom, travertine tile floor and soaring ceiling. The tile floor flows to formal living room, featuring vaulted ceiling and a wall of...

According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home. For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved for each month of the year. Below is a...

We used Tony as our real estate agent to sell our English Hill home. The process could not have been any easier. Tony was a trusted advisor during the entire listing and sales process. We needed to do extensive cosmetic updates to our house prior to listing. Tony recommended several contractors who were able to do the updates to our house prior to the sale. Tony walked us through every step of the...

Sold for $931,000 Click Here for Details Stunning home with a view of Lake Washington, in the desirable neighborhood of Lower Kennydale in Renton. This spectacular floorplan boasts 3,430 s.f. and features 4 bedrooms, 3.5 baths on a 5,661 s.f. lot. Elegant formal living room with white millwork and large windows. Beautiful formal dining room with white millwork and built-in buffet. Bright, open...

Home values have risen dramatically over the last twelve months. In CoreLogic’smost recent Home Price Index Report, they revealed that national home prices have increased by 6.7% year-over-year. CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national...

This month, Arch Mortgage Insurance released their spring Housing and Mortgage Market Review. The report explained that an increase in mortgage rates and/or home prices would impact monthly payments this way: A 5% increase in home prices increases payments by roughly 5% A 1% rise in interest rates increases payments by roughly 13% or 14% That begs the question… What if...