The Home Connection – Feb 2018

Home Connection - Feb 2018The Home Connection - Feb 2018 p2

 

Posted on January 25, 2018 at 5:11 pm
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2018 Housing Forecast: Where are we headed?

2018 Housing Forecast
What lies ahead for the local housing market in 2018? We sat down with Windermere Chief Economist Matthew Gardner to get his thoughts. Here are some highlights:

Home prices will continue to increase, but at a slower pace

The strong local economy, high demand and very low inventory will continue to boost home values in 2018, according to Gardner. However, he believes that the double-digit growth of 2017 will moderate, and predicts home prices in King County will rise by 8.5% in the new year.

Mortgage interest rates will rise slightly.

Gardner admits that interest rates continue to baffle forecasters. The rise that many economists have predicted the past few years has yet to materialize. His forecast for 2018 sees interest rates increasing modestly to an average of 4.4% for a conventional 30-year fixed-rate mortgage.

More Millennials will enter the housing market.

Despite the relatively high cost of homes in our region, Gardner expects more Millennials to buy homes in 2018. They are getting older and more established in their careers, enabling them to save more money for a down payment. Many are also having children and are looking for a place to raise their family.

The tax reform bill will have a limited effect on our housing market.

The recent changes to the income tax structure will have an impact on homeowners, but Gardner does not believe that impact will be significant here.

    • The mortgage interest rate deduction will be capped at $750,000 – down from $1,000,000. But according to Gardner, just 4% of the mortgages in King County exceeded $750,000 in 2017. Most buyers of more expensive homes have been making larger down payments, or buying homes for cash.
    • Since the $1,000,000 mortgage deduction cap is grandfathered in for those who have already purchased a home, some homeowners may opt to stay put rather than move. That could result in fewer homes being placed on the market.
    • The tax bill eliminates the deduction for interest on home equity loans. This is bound to slow down the trend of homeowners choosing to remodel their home rather than trying to find a new home our inventory-deprived market.

Bottom Line

The increase in home prices may moderate, but inventory will still be very tight. 2018 is on track to be a strong seller’s market.

This post originally appeared on the Windermere Eastside Blog.

Posted on January 6, 2018 at 12:20 am
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Making the Holidays Brighter in Our Communities

Every year, Windermere offices throughout the Western U.S. host events to help make the holidays a little brighter for our neighbors in need. From food drives to fundraisers, here are just a few examples of how our offices are giving back this holiday season.

Redmond, WA

Our office at Windermere Redmond participated in the Friends of Youth Giving Tree by setting up a tree in their office with gift tags for youth aged 16 to 25 that are either homeless or transitioning into a home for the first time. Brokers then selected gift tags and purchased the gifts to be delivered to Friends of Youth. Friends of Youth provides services to at-risk youth and homeless young people at 25 sites in 18 cities. In 2016, they helped over 6,500 youth and their families in crisis.

Giving Tree Gifts 2017

 

Seattle, WA

The Windermere Seattle-Ballard office has been busy hosting events to raise money for the Windermere Foundation. The first was a Sip & Swap event where they hosted a holiday dresses/clothing swap and asked for donations for each item. Proceeds benefitted the Ballard Senior Center and a total of $651 was raised. They also hosted a Monday Night Football event at Lagunitas Brewery where beer proceeds from that night, totaling $827, were donated to the Ballard Food Bank. In December, they held a Windermere Boutique Day, where 13 local craft vendors came to sell their goods. A portion of all sales were donated to the Windermere Foundation.

 

The Windermere Ballard office also hosted their 13th annual Santa Photos event for the community. Over 100 people/families visited the office that day, with a suggested donation of $10 for each Santa photo taken. Around $1,000 was raised from the photos, along with an additional $316 in cash and checks.

 

Oak Harbor, WA

Agents with the Windermere Whidbey Island – Oak Harbor office are supporting Whidbey’s Hope For Christmas, an annual gift program made up of community volunteers providing special Christmas memories for all eligible children on Whidbey Island, through DSHS in Oak Harbor. The office is sponsoring several children by purchasing and donating $2,000 worth of gifts.

 

Windermere Real Estate & the Redmond Team would like to thank our offices and everyone that supports the Windermere Foundation. Through these events, as well as a variety of other fundraisers like the ones described above, the Windermere Foundation is able to support non-profit organizations that provide services to low-income and homeless families throughout the Western U.S.

If you’d like to help, please consider donating to the Windermere Foundation. To learn more about the Windermere Foundation, visit http://www.windermere.com/foundation.

This blog post originally appeared on the Windermere Blog.

Posted on December 20, 2017 at 9:16 pm
Redmond Office | Category: #TackleHomelessness, Windermere Redmond Blog | Tagged , , , , , , , ,

Windermere’s Winter Drive Collects over 3,000 Items for Homeless Youth

We've Got You Covered Redmond 2017

As part of Windermere’s #tacklehomelessness campaign with the Seattle Seahawks, 37 Windermere offices* in King and Snohomish Counties collected new hats, scarves, gloves/mittens, and warm socks for Windermere’s “We’ve Got You Covered” winter drive. The recipient of these donations was YouthCare, a Seattle-based non-profit that provides critical services and support to homeless youth throughout the Puget Sound area.

Over 3,000 items were collected during the four-week drive, which included some 737 pairs of socks, 391 hats, 467 pairs of gloves/mittens, 111 scarves, and an assortment of other accessories and cash donations. Two agents out of the Mill Creek, WA office even made 32 scarves by hand for the Winter Drive. We are thankful for these generous donations which will go a long way towards helping keep homeless youth warmer this winter season.

The folks at YouthCare were all very thankful to receive the delivery of eight bins full of donated items. And to make the day even more exciting, Blitz, the Seahawks mascot, was on site to oversee the delivery of the items to YouthCare!

Brittny Nielsen, Communications and New Media Specialist said, “We were thrilled to see our friends from Windermere and Gentle Giant dropping off a semi-truck full of donations for homeless youth this season. Having Blitz from the Seahawks show up to help us celebrate was icing on the cake! This crucial donation from Windermere brightens the holidays for youth in need. We’re so grateful!”

 

 

 

All of us at Windermere are very grateful to Gentle Giant Moving Company, who partnered with us on this drive, and generously donated their time and trucks to pick up all of the donated items from our offices and deliver them to YouthCare.

Thank you to our participating offices, the Seahawks, and all those who donated, for making Windermere’s Winter Drive a success!

 

 

 

*Participating Windermere offices

BellevueBellevue CommonsBellevue SouthBellevue WestBurienChelanIssaquahKirkland CentralKirkland Yarrow BayLynnwoodMaple ValleyMercer IslandMill CreekMonroeProperty Management – BellevueProperty Management – EdmondsProperty Management – SouthRedmondSeattle-BallardSeattle-Capitol HillSeattle-EastlakeSeattle-Green LakeSeattle-GreenwoodSeattle-LakeviewSeattle-Madison ParkSeattle-MagnoliaSeattle-Mount BakerSeattle-NorthgateSeattle-NorthwestSeattle-Queen AnneSeattle-Sand PointSeattle-Wall StreetSeattle-WedgwoodSeattle-West SeattleServices-MarketingSnohomishWoodinville

This article originally appeared on the Windermere.com blog.

Posted on December 8, 2017 at 4:31 pm
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Windermere Foundation Donates to Pantry Packs To Feed Hungry School Children

Windermere Redmond brokers Tricia Ebert & Lara Brown had the pleasure of volunteering their time last week with Pantry Packs, a community driven program that provides healthy food for hungry kids to take home over the weekend and school breaks. Through charitable donations and volunteer support, Pantry Packs is able to feed more than 800 Lake Washington School District children who are identified by counselors as being “food insecure” and often come to school hungry on Mondays. Each month 40-50 volunteers come together to “pack the packs” then volunteer drivers deliver the packs to more than 40 participating schools. Each week school coordinators are able then to distribute the packs to hungry children in grades preschool all the way through high school. In addition to packing the packs, Tricia and Lara were honored to grant an additional $3,700 to the Pantry Packs cause on behalf of the Windermere Foundation.

Pantry Packs Founders

Windermere Redmond Agents & Windermere Foundation Representatives Tricia Ebert & Lara Brown with Pantry Packs Founders

Our Redmond brokers would like to thank their clients for enabling the Foundation to grant funds to local non-profits throughout the Eastside and beyond. For the past 28 years, the Windermere Foundation has donated a portion of the proceeds from every home  purchased or sold towards supporting low-income and homeless families in our communities. Together, we can create opportunities for a brighter future for low-income children and families in our neighborhoods. Your support really does make a difference! We sincerely appreciate your business and are grateful to be a part of the Redmond community.

 

For more information on Pantry Packs and how you can get involved, please visit:
http://www.lwsf.org/pantrypacks.html

 

Windermere Foundation Raised

Posted on November 14, 2017 at 9:04 pm
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Help Us Keep Homeless Youth Warm Again This Winter

 

All of us at Windermere are very excited to be in the midst of the second season of our partnership with the Seattle Seahawks, and continuing our campaign to help #tacklehomelessness. For every home game tackle made by the Seahawks, the Windermere Foundation is donating $100 to YouthCare, a non-profit that provides critical services to homeless youth throughout the Puget Sound area.

As proud as we are of our #tacklehomelessness campaign and the money we’re raising, we know we can do more. That’s why we’re hosting another Windermere “We’ve Got You Covered” winter drive to benefit YouthCare. Each night in the greater Seattle area, nearly 1,000 young people are homeless. And with the winter months quickly approaching, YouthCare is in dire need of survival supplies to keep homeless youth warm and dry during the long, wet winter.

Here’s what we are collecting:

  • Warm socks
  • Hats
  • Scarves
  • Gloves/mittens

*New items only please

From October 16 through November 10, you can drop off donations at the Windermere Redmond office at Redmond Town Center or one of the other participating Windermere offices listed below. Our friends at Gentle Giant Moving Company are generously donating their time and trucks to pick up all of the donations from our offices. Donations can also be dropped off directly to YouthCare, Monday through Friday from 9am-5pm, at 2500 NE 54th St, Seattle, WA 98105.

We hope you will consider making a donation to our “We’ve Got You Covered” winter drive. Feel free to contact your Windermere agent or local office for more information, or email justask@windermere.com.

 

       

**Windermere Winter Drive Drop-Off Locations

Bellevue

Bellevue Commons

Bellevue South

Bellevue West

Burien

Chelan

Issaquah

Kirkland Central

Kirkland Yarrow Bay

Lynnwood

Maple Valley

Mercer Island

Monroe

Property Management – Bellevue

Property Management – South

Seattle-Ballard

Seattle-Eastlake

Seattle-Green Lake

Seattle-Greenwood

Seattle-Lakeview

Seattle-Madison Park

Seattle-Magnolia

Seattle-Mount Baker

Seattle-Northgate

Seattle-Northwest

Seattle-Queen Anne

Seattle-Sand Point

Seattle-Wall Street

Seattle-Wedgwood

Seattle-West Seattle

Services-Marketing

Snohomish

Woodinville

This blog post originally appeared on the Windermere.com blog.

Posted on October 18, 2017 at 9:25 pm
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Windermere and the Seahawks are Back for Another Season to #TackleHomelessness!

Once again, our #tacklehomelessness campaign is front-and-center, with the Windermere Foundation donating $100 for every Seahawks home-game tackle during the 2017 season to YouthCare, a Seattle-based non-profit organization that has been providing services and support to homeless youth for more than 40 years. Last year, the Seahawks helped us raise $35,000 through our #tacklehomelessness campaign, and this year we are looking forward to raising even more money – and awareness – for this important cause.

Our partnership with the Seahawks and YouthCare fits perfectly with the mission of the Windermere Foundation which is to support low-income and homeless families in the communities where we have offices. Through the #tacklehomelessness campaign, we hope to be able to do even more.

A “score card” will be posted after each home game that shows how much was raised during that game. You can follow our progress throughout the Seahawks season on our Facebook page at Facebook.com/WindermereRealEstate

This post was originally published on the Windermere Eastside Blog.

Posted on October 12, 2017 at 11:35 pm
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The Home Connection – October 2017

The Home Connection October 2017

Posted on September 27, 2017 at 7:18 pm
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Are We in a Housing Bubble?

As home prices in King County have reached record highs, some people are wondering whether we are approaching another housing bubble.

While it’s true that home prices here have surpassed the last peak hit during the housing bubble, that doesn’t mean we are in bubble territory today. The last bubble was fueled by faulty mortgage practices. Today, loans are granted on much more sound principles.

More importantly, the local economy is flourishing. Seattle has the fastest growing population of any major city in the country. The demand for homes, and historically low inventory, have been the catalyst for rising home prices here.

Still not convinced that there is no bubble? Let’s take a look at the statistics.

King County Median Sales Price

According to data from the Northwest Multiple Listing Service, the median home price in King County rose steadily since 1993 (the first year the NWMLS reported median home figures), fell during the crash, and has risen since 2012.

Now, let’s assume there was no housing bubble and crash in the mid-2000s and that home prices appreciated at normal historic levels for King County, which has been an average annual rate of 6 percent for many decades. This graph compares actual home prices (blue bars) with what prices would have been with normal appreciation (orange bars) over the same period.

King County Median Sales Price

Bottom Line: Had there not been a boom and bust, based on historic appreciation rates home values would be close to where they are right now. However, there is no doubt that home prices have risen rapidly the past few years, and that rate of appreciation can’t be sustained over the long term. If you are considering buying a home today, make sure you can afford the payments, and choose a location that will appeal to you for years to come.

This post was originally seen on the Windermere Eastside blog.
Posted on August 28, 2017 at 5:11 pm
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The Home Connection -August 2017

The Home Connection August 2017

Posted on July 31, 2017 at 11:40 pm
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