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
Redmond Office | Category: 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
Redmond Office | Category: #TackleHomelessness, Windermere Redmond Blog | Tagged , , , , , , , , , ,

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
Redmond Office | Category: #TackleHomelessness, Windermere Redmond Blog | Tagged , , , , , , , , , ,

The Trump Administration’s Impact on U.S. Housing

Will the Trump administration have an impact on the U.S. housing market? Windermere Chief Economist, Matthew Gardner, weighs in on how mortgage rates, inflation, and the possible repeal of Dodd-Frank could impact housing in the foreseeable future.

This post originally appeared on the Windermere.com blog.

Posted on May 22, 2017 at 8:57 pm
Redmond Office | Category: Windermere Redmond Blog | Tagged , , , , , , , , , , , ,

Home Maintenance Checklist – Spring Tips

Here’s a home maintenance checklist to get your home’s systems in good working order during the warmer months ahead.

Posted on March 8, 2017 at 11:55 pm
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How Much Did Residential Home Prices Rise in 2016?

King County Residential Home Price-Increase in 2016

King County Residential home prices increased an average of 12.7%. Here is the list of median home price-increase in different areas.

Shoreline/Richmond Beach $439,725–> $503,393
Lake Forest Park $432,250–> $505,350
Ballard $587,000–> $655,000
North Seattle $575,000–> $679,950
Queen Anne/Magnolia $780,500–> $882,500
Central Seattle $689,999–> $774,995
SODO/Beacon Hill $420,000–> $501,975
West Seattle $450,000–> $511,500
Southeast Seattle $441,500–> $500,000
Kirkland/Rosehill $801,000–> $899,500
Redmond $650,000–> $709,793
West Bellevue $1,751,000–> $1,948,000
East Bellevue $638,950–> $730,000
East Lake Sammamish $645,000–> $736,001
South Bellevue/Newcastle $713,000–> $788,888
Mercer Island $1,195,000–> $1,315,000
Juanita/Woodinville/Bothell/Duvall $525,000–> $610,000

 

All data compiled from information supplied by Northwest Multiple Listing Association on 1/01/2017 Accuracy of information herein is not guaranteed.
This information was only taken of single-family homes, and does not include condominiums or vacant land.

 

This blog post originally appeared on the Bellevue Commons Blog.

Posted on February 2, 2017 at 4:57 pm
Redmond Office | Category: Windermere Redmond Blog | Tagged , , , , , , , , , , , , , , , , , , ,

Windermere Foundation Raises $2,246,829 in 2016

The Windermere Foundation had another banner year in 2016, thanks to the continued support of Windermere franchise owners, agents, staff, and the community. Over $2.2 million was raised in 2016, which is an increase of seven percent over the previous year. This brings our total to over $33 million raised since the start of the Windermere Foundation in 1989.

A large amount of the money raised last year is thanks to our agents who each make a donation from every commission they earn. These funds enable our offices to support local non-profits that provide much-needed services to low-income and homeless families in their communities.


SUMMARY OF FUNDS, GRANTS & DONATIONS IN 2016

  • Organizations served: 410
  • Number of individual grants fulfilled: 664
  • Average grant amount: $2,581
  • Average donation to the Windermere Foundation: $122.05

FUNDING BREAKDOWN

  • Total funds provided in 2016: $1,951,878.78
  • Scholarships: 4.79%
  • Youth/Child Programs: 32.65%
  • Emergency Assistance: 25.67%
  • Shelter: 12.85%
  • School Assistance: 6.76%
  • Education/Counseling: 5.10%
  • Administrative Expenses: 2.74%
  • Fundraising Expenses: 9.44%

So how are funds used? Windermere offices get to decide how to distribute the funds their agents raise so that they may help organizations in their communities. Our offices have helped to fund school lunch and afterschool programs, supported non-profits that provide housing assistance to homeless families, donated to food banks, purchased school supplies, provided meals and gifts for families in need over the holidays, fulfilled wishes for children through Make-A-Wish programs, and purchased shoes, clothing, blankets and other items to help keep families warm during the winter months.

This year was also marked by a new partnership between Windermere and the Seattle Seahawks to help #tacklehomelessness. During the 2016 football season, Windermere donated $100 for every Seahawks home game tackle to YouthCare, a non-profit organization that provides essential services to homeless youth. At the end of the season, the #tacklehomelessness campaign raised $35,000, which is being used to help fund YouthCare’s transitional housing program.

Thanks to our agents, offices, and everyone who supports the Windermere Foundation, we are able to continue to make a difference in the lives of many families in our local communities. And not just during the holidays, but throughout the year. If you’d like to help support programs in your community, please click on the Donate button.

To learn more about the Windermere Foundation, visit http://www.windermere.com/foundation.

This article originally appeared on the Windermere.com blog.

 

Posted on February 2, 2017 at 1:01 am
Redmond Office | Category: Windermere Redmond Blog | Tagged , , , , , , , , , , ,