home property values

condominiums 2021 US Housing Forecast – What to Expect Next Year This week Matthew Gardner, Windermere Chief Economist, takes a look at the US housing forecast for 2021. Topics include mortgages, existing home sales, existing home values, new construction, the impact of homes in forbearance  and the urban condo market. Overall the outlook is positive for a continuing strong real estate market and low interest rates.
economy COVID-19 Impact on the Housing Market – You Might Be Surprised
buying a home Real Estate – What to Expect as We Return to “Normal” It’s not surprising to know home sales declined in mid-March as we sheltered at home. Moving into mid-April both buyer activity and pending sales began increasing, all while home prices remained strong. Nationally median home prices rose in every region of the US in April. Locally buyer activity and home values also gained momentum. Short […]
buying a home February NWMLS Real Estate Market Snapshot February statistics are in. Home prices, compared to February 2019, are up 9%. There’s less than a six week supply of available homes which is down 33% over the same time last year. Mortgage interest rates are historically low. Now is the time to maximize your home buying power. Open house traffic has been amazing. […]
Bellevue Eastside Condos – What Can You Expect in 2020? Today’s Seattle Times and Puget Sound Business Journal reported that the 2020 real estate marketplace was likely to open fast paced with low inventory levels and high buyer demand following a robust December of residential sales. Without a significant increase in available housing inventory it could be a “red hot market” this year with a […]
condominiums 2020 Real Estate Excise Tax Revision The Washington State Legislature has changed the way in which real estate excise taxes taxes (REET) will be calculated. This change will impact real estate sales beginning next year. Starting January 1, 2020, the real estate excise tax, currently a flat 1.78% of the sales price paid by the seller at closing, will be calculated […]
Bellevue Eastside Condo Sales Activity As was true across the Puget Sound region, the inventory of available houses and condos for sale on the Eastside dropped dramatically in November. the median sales price was $900,000, up 2% over last year 20% of those homes sold above list price 45% of the homes sold in 15 days or less the Eastside […]
condominiums Home Search – What’s more important? Location or dream home updates?   Seafair, vacations, weddings, sunny weather, back-to-school shopping  –  the month of August is filled with distractions that cause buyers to take a break from their summer home search. Local condominium and house inventory is up  (though there’s hardly a glut of available inventory), making this a great time to take advantage of having more […]
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Bellevue Does Walk-ability Add Home and Community Value? Living in communities close to workplaces, shopping, dining and other amenities is becoming increasingly important to buyers when searching for a home. A recent survey conducted on behalf of the National Association of REALTORS® found over half of the respondents preferred to live in a community that offered smaller or no yards but  was within […]
home property values The Risk of Relying on Home Value Zestimates Earlier this month the Seattle Times reported on a recent Zillow Zestimate for a home in Belfair on the Kitsap Peninsula. The Mason County assessor’s value of the home was $283,000. The home recently sold for $225,000 (below market value because the home was headed for foreclosure). A Zillow Zestimate published the home’s value at […]
Bellevue Bellevue Condo Market Statistics Earlier this month I shared 2017 King County real estate market statistics supplied by the NWMLS. Median sales prices were up 15% county-wide (houses and condos) over 2016. Taking a closer look, here are the 2017 market stats for Bellevue condos: 759 condos sold in 2017 (resale and new construction), up from 746 in 2016 […]
Bellevue 2017 Local Real Estate Market Data The info-graphic above provides a quick look at 2017 King County real estate market statistics. nearly 3% more homes (condos and houses) sold in 2017 vs. 2016 the median sales price was up nearly 15% county-wide at the end of 2017 there was less than a one month supply of available homes a 4 – […]
Bellevue Where Are the Bellevue Condominiums? An article in the Puget Sound Business Journal this week compared the available local condominium inventory to New York City. Granted, NYC is a much larger and more expensive market, but currently NYC has 388 condos for sale priced less than $500,00. At the time the article was written there were only five condos available […]
Bellevue Buying a Home with Less than 20% Down It’s a common misconception that a minimum 20% down payment is required to purchase a home. Buyers, saving to put 20% down on a home purchase, could be missing the opportunity to buy a home, and instead are watching prices continue to escalate. There are excellent loan programs available with 5% or 10% down (even […]
Downtown Bellevue Does Commute Time Impact Home Value? How does commute time impact local home values and buyer’s decisions on neighborhood selection? According to the US Census, Americans rank having a short commute second only to low crime rates when it comes to determining where to buy or rent a home. One study found that New Yorkers will pay nearly $60 more a […]
Bellevue 2016 Strong for Condo Sellers With only 24 resale condos listed for sale in downtown Bellevue there are very few choices for buyers ready to purchase. (Add in the 39 developer owned units still available at Washington Square and the total is barely over 60 in the entire downtown marketplace). Inventory is at historic lows, prices are at or near […]
condo financing Rising Interest Rates – No Need to Over React The Federal Reserve raised interest rates by 0.25 percent this week, causing concern that increasing mortgage interest rates will follow, which could have a negative impact on the housing market. Its unlikely we'll see any significant increase in mortgage interest rates in the immediate future. Could they rise in the coming months, possibly, but not […]
home property values How Smart is Your Home? I was recently approached for an on-the-street survey conducted by a major local tech company regarding smart houses, asking if I would value "smart house" features for comfort, convenience, energy conservation and security. The growth of "smart homes" has exploded worldwide. According to a recent article in Realtor® Magazine, approximately 100 million households will be […]
home property values Seattle vs. San Francisco – Affordability vs. Lifestyle Both San Francisco and Seattle have an abundance of tech jobs. Anyone in the tech industry casting a wide net in their job search could expect to find job opportunities in both cities. While both locations would provide career growth opportunities and a stimulating lifestyle, where would you move and how would make that choice? […]
condo financing Condo Financing and the FHA Condominiums offer a great opportunity for first time buyers to enter homeownership and begin to build wealth, equity and credit. FHA (Federal Housing Administration) loans were a popuilar option for financing as they often offered more favorable interest rates and down payment options than conventional loans. In recent years FHA has placed significant restrictions on […]