buying a homecondominium speciaistproperty valuesreal estateselling a homeWindermere Real Estate July 29, 2020

How’s the Real Estate Market?

townhomesHow’s the Real Estate Market?

This is a question I hear a lot. Real estate was dormant this spring due to the coronavirus pandemic. Since mid-May the housing market has made a robust and positive rebound.

The number of buyers currently in the market far exceeds the available inventory of homes for sale. Why are so many buyers searching for homes? Record low interest rates give buyers more purchasing power. They’re taking advantage of those low interest rates to purchase a first home, move up to a larger home or, since we’ll be working from home/learning from home for many months to come, find a home that is a better fit for changing live/work/learn lifestyles. We are fortunate to live in an area with a strong economy. Local and national companies continue to grow and recruit employees, but that growth is bringing more home buyers to the area who want to purchase a home.

Lifestyle needs change . . . job and workspace needs change . . . housing needs change. Right now housing inventory is the biggest challenge for buyers looking to purchase a home. It’s a competitive market. The shortage of homes is definitely tipping the scale in favor of sellers, and that trend is expected to continue through the end of the year.

If there’s a change or a move in your future . . . how can I help?

 

 

 

 

condominium speciaistcondominiumseconomyreal estateWindermere Real Estate July 28, 2020

How Much Are Home Values Expected to Increase in 2020?

This week Matthew Gardner, Windermere Real Estate’s Chief Economist, provides an update to his 2020 housing forecast. Interesting economic information relating to the local and nationwide real estate market.

 

buying a homehome financinghome safetyonline securitysecurityselling a homeWindermere Real Estate July 21, 2020

Summertime – Must Be Time to Go “Phishing”

photo courtesy flickr/gotcredit.com

Over the past week I’ve suddenly received several phone and email “phishing” solicitations. I’d like to blame it on a full moon, but that was nearly three weeks ago.

I’ve been contacted twice and advised my Amazon account had been locked due to suspicious activity. Two different people have called to tell me a credit card was being used in another state, that the police had been contacted, and they would need additional personal information to verify they were really talking to the cardholder so that they could assist me. I reached out to both credit card companies – no suspicious activity or security breach reported on my accounts. I also had a call trying to sell me new windows for my home. Told that caller my home has no windows. (You have to have some fun with these calls.) The best calls have been the three from people representing “investors” who are ready to purchase my house immediately – for cash. I had to play along with these calls too. Turns out the caller didn’t know anything about my home including where it was located, when it was built, the number of bedrooms, baths or square footage. After no doubt frustrating the caller for a few minutes, I let them know I was a Realtor® and that when it came to sell my home I had that covered.

Maybe with everything going on in the world scammers think this is an easy time to take advantage of people who might be feeling stressed or vulnerable. In my business escrow and title companies, banks and lenders continually deal with wire fraud. Bad people have figured out how to hack into emails, secure bank and corporate websites and anywhere else they think there might be a quick and dirty way to make money and defraud innocent people.

Be very careful. Be suspicious of phone calls and emails you don’t recognize or can’t verify. Caution and educate your children, parents and friends. If you question something, whether it’s from a friend, relative, business associate, bank real estate broker, escrow or title, and especially if you’re involved in a real estate transaction . . . verify the sender. It only takes a few minutes to protect yourself. It also only takes a few minutes for a wire transfer sent to a criminal recipient to empty a bank account, and those funds can be impossible to retrieve.

We have enough to worry about these days. Be safe. Verify. Verify. Verify. And while you’re at it, wear a mask. Take care of yourself, your family and friends.

 

 

 

economyhousing marketreal estateWindermere Real Estate July 20, 2020

Matthew Gardner – The Importance of the National Housing Survey

Started in 2010, the information in the National Housing Survey contains information about consumer attitude, intentions and financial confidence as it relates specifically to housing.

 

 

economyhome property valuesreal estate July 13, 2020

COVID-19 Impact on the Housing Market – You Might Be Surprised

IRSreal estatetax filling deadline July 10, 2020

July 15th Tax Extension Deadline is Next Week

courtesy CreditDebitPro.com

Due to the COVID-19 pandemic, the IRS postponed the original tax filing deadline from April 15th to July 15th. July 15th is also the deadline for making first and second quarter estimated payments for 2020. You also have until the 15th to contribute to your IRA or health savings accounts for the 2019 tax year.

This is the is the last weekend before the deadline to finish gathering documents and preparing your taxes to meet the deadline. If you’re unable to meet the deadline, you can file for an extension to push your tax date to October 15th. That form, along with any IRS documents and information you may need, can be found at IRS.gov.

 

 

 

lifestylereal estateurban livingWindermere July 9, 2020

An Online Furniture Shopping Newbie

Robin-MyersI don’t do a lot of online shopping unless its for a product I’ve purchased before or from a retail store I’m familiar with and trust. Buying groceries online, a t-shirt from Nordstrom or replacing a kitchen item from Amazon is a safe bet. I’ve never made a significant online purchase like furniture.

Replacing the ottoman in front of my sofa with something more contemporary and more sturdy has been on my list for some time. A glass of red wine sitting on a tray on an upholstered ottoman is a disaster waiting to happen, especially when you have a dog. With working and spending more time at home in recent months, and maybe drinking wine more regularly, the physical and visual issues of the ottoman have been more noticeable.

Welcome to Wayfair  –  there are so many choices. After extensive research (probably to much) I parked several glass coffee tables in my shopping cart to ponder. I finally selected a table that checked all the boxes  –  not too large, contemporary, glass top and interesting style. When I was finally ready to to push the “purchase” button, I was delighted to find it was on sale for the Memorial Day holiday weekend sale. Awesome!

The table arrived a few weeks ago. It was easy to assemble and it’s perfect! Fits the space exactly as expected, the glass top visually makes the room feel larger, it’s a nice update to the room and its a more stable spot for a glass of wine. Couldn’t be happier. I’ve been thinking about new bedroom nightstand lamps . . . there could be another online shopping success story in my future.

 

 

Robin Myers is a condominium specialist with Windermere Real Estate/East, Inc.

 

 

affordable housingcondominiumseconomyreal estate July 7, 2020

The Important Role First Time Buyers Play in the Long Term Housing Market

This week Matthew Gardner, Windermere Chief Economist, speaks to the importance first time buyers will play in the recovery of the country’s housing market.

 

affordable housingcondominium speciaisteconomyreal estateWindermere Real Estate June 29, 2020

Can We Expect to See More Entry Level Affordable Housing In the Future?

This week Matthew Gardner, Chief Economist for Windermere Real Estate, discusses housing affordability and what we can expect moving forward. On average median housing prices nationwide are have increased by 23.5% above the 2008/2009 recession. While there has been some impact on values due to COVID-19, high demand from buyers in a market with limited inventory will continue to increase prices. What’s the solution? There’s high demand for entry level housing, but there’s no easy answer as to how to create affordability.

buying a homecondominium speciaistcondominiumsreal estateselling a home June 24, 2020

Available Homes for Sale Significantly Below Last Year

The number of homes available for sale declined in April and May for obvious reasons – there were health and economic concerns brought on by the COVID-19 pandemic. Since late May local home sales have been ahead of the same period last year. Buyer demand remains high but what is different about this year compared to last year is there are fewer homes for sale. The graph below, provided by the Northwest Multiple Listing Service for the Seattle Times, shows that new pending sales are well above the same period last year but new listings of homes for sale are 20% below the same period last year.

With barely a one month supply of inventory in many areas, homes are selling quickly. Multiple offers are more common, and many homes are selling above the list price. Buyers are finding more competition for the weekly supply of newly listed houses and condominiums coming on the market.

What’s driving this demand? Interest rates are at record lows making mortgages more affordable. Potential buyers can afford a larger home. And, after three months of quarantine, owners and renters whose homes offered adequate space when working off-site are seeking larger homes with more indoor space, a dedicated home office area and more outdoor live/play space. Buyers are ready to buy, but sellers don’t appear to be as motivated right now.