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The U.S. unemployment rate is at a 50-year low, and consumer confidence remains high. In fact, the University of Michigan’s latest Surveys of Consumers found that Americans have their most positive personal finance outlook since 2003.
However, if you follow national news, you’ve probably heard speculation that we could be headed toward a recession.
Read more
The U.S. unemployment rate is at a 50-year low, and consumer confidence remains high. In fact, the University of Michigan’s latest Surveys of Consumers found that Americans have their most positive personal finance outlook since 2003.
However, if you follow national news, you’ve probably heard speculation that we could be headed toward a recession.
Read more3 Bedroom | 2.25 Bath | 2016 sqft
Sweeping valley and territorial views from this desirable Edgewood home. 16,000+ sq ft lot with mature landscaping is a gardener's dream.
Master suite with 2 additional bedrooms on main
Spacious living room with fireplace
dining room
eat-in-kitchen
Bonus room on lower level
Great room on lower level features fireplace & is plumbed for wet bar
Utility room and 1/2 bath on lower level.
Gas available in street.
front and back decks
large backyard patio
utility room
attached 2 car garage
Heating: Electric/Forced Air
Triple Paned Window
built in 1973
2018 Taxes: $4,348
Convenient location - minutes to shopping & dining.
For more information visit LakeRE.com or contact Darnell at 206-679-8815 or darnell@lakere.com
1 Bedroom | 1 Bathroom | 653 sqft
Mid-Century view condo perfectly situated on Queen Anne’s lower south slope.
Spacious living room with views of Mt Rainier & Puget Sound
Dining Room
Updated kitchen with stainless steel appliances
Hardwood floors
Sustainable cork flooring in kitchen & bath
Full-size front loader washer & dryer in home
Dedicated parking space
Storage on same floor as unit
Secure entry
Minutes from Seattle Center, Top of Queen Anne, Amazon, Facebook, Google & Expedia
Walk to shopping, dining, bars, groceries & parks
No rental cap - great investment opportunity
HODs $373
2018 taxes $3392
For more information visit LakeRE.com or contact Darnell at 206-679-8815 or darnell@lakere.com
The real estate market is experiencing a traditional Spring upswing following the winter slowdown this year. Median single family house prices in Seattle and King County haven’t completely rebounded from the hit the market took in late Spring last year. Although it is still a seller’s market, with inventory increasing, we are taking another step towards a more balanced market. We are seeing longer market times and fewer multiple offers. However, with interest rates projected to remain under 5% through next year, a wonderfully low unemployment rate, and a pent up demand for homes in the area, our market should remain strong.
What I have found interesting is that single family median house prices in Pierce County and Tacoma have had steady, continued growth through Seattle’s 2018/2019 fluctuations. Tacoma offers city living at lower prices and those who have been priced out of the Seattle market are finding it an appealing place to look for a home.
Area | Median Price | Inventory
MLS +5.5% +6.8%
King -0.3% +38.7%
Seattle -4.6% +67.4%
Tacoma +8.8% +8.5%
West Seattle -1.2% +103%
There is no doubt that we are finally seeing some changes to our local real estate market. Due to recent news articles, I receive two questions regularly.
1. Are we in a bubble? I witnessed and survived the bubble. This market is completely different. Based on a mix of research and observation, here are the reasons that I feel we are not in a bubble:
a. Buyers are extremely qualified for loans and have the jobs to support their mortgages. Many buyers in Seattle have at least a 20% downpayment. During the development of our 2007 bubble, most buyers were putting less than 5% down.
b. Our unemployment rates are extremely low and projected job growth is strong which signals a healthy economy for years to come.
c. Cost of living in Seattle is still more affordable than California.
2. When is the best time to sell? If a house is properly prepared and competitively priced, I have had success throughout the year. However, if you simply take a “statistical approach” there is an undeniable pattern in median home values in our real estate market. Keep in mind, there are a lot of variables beyond the seasonal shifts that could change those historic fluctuations. Politics, health of local businesses, relationships between local government and business, international trade, interest rates, etc., all play a large role in the real estate market.
a. Homes that go under contract in late April-early May, tend to hit peak median sales prices for the year.
b. There is always a dip in the prices of homes that go under contract in December, and usually a smaller dip in home prices that go under contract in late Summer.
c. In 2018, Seattle prices took a hit from late Spring through the holidays. January of 2019 started with a bang! This was a change in the usual pattern. It will be interesting to see if it repeats itself this year.
The patterns reflect nominal fluctuations in prices. In my opinion, the most important element in choosing the best time to sell are the timing related variables for your specific home and goals. Are you buying and selling? Are you changing jobs in the near future? Do you have a waterfront home? My expertise comes in when we analyze the whole picture.
What this means for buyers:
Take advantage of the increased inventory and low interest rates! We often see less buyers searching for homes in the Summer. This means less competition for you on many homes. You also may have an opportunity to negotiate on the sales price of homes that have been sitting on the market.
Working with a Real Estate Broker who has a strong background in negotiation can save you thousands on the purchase price of your home.
What this means for Sellers:
Although it is still a Seller’s market, the increase in inventory and market times requires a shift in the marketing strategy brokers have relied upon the last several years. Not only is there more competition, but buyer psychology has shifted. With more to choose from, buyers are taking their time in making decisions, being more discerning, and negotiating on price and terms. Sellers need to keep this change in buyer psychology in mind when preparing their home for sell and determining the marketing and pricing strategy. Multiple offers are now the exception rather than the rule.
Working with a Real Estate Broker that has experience in a more balanced market is better able to advise you in today’s market. A skilled negotiator will provide you leverage when working out contract terms and repair items.
If you have any questions, I’m available to discuss further. If you’re considering buying and/or selling, let’s grab some coffee and see how I can assist you in reaching your real estate goals.
1 Bedroom | 1 Bathroom | 676 sqft
Light filled, end unit condo in the gated Mattino community. Walk to a wide variety of restaurants & shopping. Easy access to I-5 and 99 make this the perfect place to call home.
Open concept floorplan
Kitchen features granite countertops, custom cabinets & large breakfast bar
Dining room
Living room with fireplace
Laminate hardwood floors in entry & kitchen
Your own private backyard off of living room with in ground sprinkler system & patio
Large bedroom
Spacious full bath with built in cabinets, tile tub surround
Washer/Dryer - utility closet with storage
1 covered parking space (abundant guest parking)
gated community
storage unit
Well maintained and run HOA
Minutes to vibrant Aurora Village, Transit Center, shopping & dining.
Handicap accessible
HODs $300/month includes garbage/water/sewer & common area maintenance
For more information visit LakeRE.com or contact Darnell at 206-679-8815 or darnell@lakere.com
1 Bedroom | 1 Bathroom | 665 sqft
City living at it’s best with this smart, spacious floorplan in the heart of First Hill. This light-filled view unit is walkable to shopping, dining, bars, hospitals, Seattle University and more.
Open, Spacious floorplan
City & Mountain views from living room, dining & bedroom
Large master bedroom
Renovated kitchen
Renovated bath
Dining area
Wood burning fireplace
Exposed brick wall
Large entry with closet
Flex space used as office or build out for walk-in closet
Circular floorplan
Walk to all First Hill offers
Strong HOA - Dues $367.41
Garage Parking
No rental cap
Pet friendly
Easy downtown commute & I-5 access
For more information visit LakeRE.com or contact Darnell at 206-679-8815 or darnell@lakere.com
Ollie and I went on a field trip for our evening walk. I could live here. I could help you live here. One of my favorite spots. Easy commute by train into downtown Seattle. Easy ferry to Kingston and the Peninsula. Great restaurants, waterfront and community.
Take in sweeping views of Lake Union, Gasworks Park, Downtown skyline, Space Needle, the Olympic Mountains & more from this 1100 sq ft condo. Spacious living & dining rooms, updated kitchen with granite countertops, French doors off large master suite open to an expansive private view deck. Low HODs. 2 parking spots, Separate large storage. Easy access to South Lake Union, Capitol Hill & UW. Minutes to shopping, dining & freeways.
Click here for the full listing details.
When was the last time you reviewed your homeowner’s insurance policy?
Many people hardly give their policies a second thought until the need arises. This can lead to misunderstandings about what’s covered and what percentage of the value is covered.
Questions to ask your insurance company:
Does my homeowner’s insurance cover natural disasters and what kind?
It depends. Standard coverage does include wind damage, including that from hurricanes and tornadoes, said the Insurance Information Institute. However, they don't typically cover flooding, including water damage from a hurricane, so read your policy carefully to learn its limits. Standard policies cover fires, including wildfires, as well as hail and lightning strikes, but typically not earthquakes. Beyond the actual dwelling, homeowners policies also usually cover detached structures such as a garage or gazebo.
Do I need an umbrella policy?
Perhaps. Umbrella policies provide additional liability protection beyond the monetary limits on your standard auto or homeowner coverage. This can be helpful if you cause a major accident and are subject to a large legal judgment. Do I have enough insurance for my home and personal property?
Roughly two in three U.S. homes are underinsured by 25% or more, said Fiske, citing a study by Marshall & Swift/Boeckh. Some homeowners haven't updated their coverage to reflect remodeling or other improvements. Others don't recognize how high construction costs can be.
Find out the cost to rebuild your home and take inventory of your personal property and it’s approximate value. Then call your agent and update your insurance!
If you are looking for a great insurance agent, just give me a call!
CONGRATULATIONS TO MY BUYERS!
Old world charm abounds in this class frame tudor. Hardwood floors, original millwork, leaded glass windows, coved ceilings and decorative period fireplace. Great floor plan with 4 bedrooms above grade and office. Fresh paint in and out, full basement and 1 car garage plus off street parking. Downtown and Mt. Rainier views from back of house. Potential for expansion in full basement with high ceilings. Huge sunny lot in fabulous Ballard neighborhood.
CONGRATULATIONS TO MY BUYERS!
Elegant contemporary new construction with spectacular open floor plan in sought-after Hawthorn Hills! This home is full of eye-catching details throughout. Huge family room, beautiful gourmet kitchen, lavish master suite with dream walk-in closet, and many more impressive features. Private deck and patio in cozy backyard surrounded by professional landscaping to entertain your guests this summer. Close to Metropolitan Market, PCC, and neighborhood parks & schools.
1. Get pre-approved with a lender & know your price range & down-payment.
2. Make a wish list of your wants & needs.
3. Meet with me to help you look for what you want, write your offer, and negotiate on your behalf.
4. Improve your credit score, if needed.
5. Do not make any large purchases, like a car, or apply for any credit cards.
6. Have funds ready for closing costs, inspections, and reserves.
7. Learn about the market & process of buying and ask me questions.
8. Calculate your commute.
9. Get your paperwork in order and file your taxes.
10. Think about resale value.
11. Check out the neighborhood.
12. Stay the course. You may not get the first home you put an offer on.
13. Be willing to compromise & be patient
The search and process is worth the result of getting a great home!
CONGRATULATIONS TO MY BUYERS!
Welcome to this charming, traditional home in the heart of Laurelhurst. Try to imagine one of those sunny summer evenings in Seattle, as you sit on the front patio watching graceful eagles floating over the lake. The last few notes from the ice cream truck says the day is over, another glorious day spent at the Laurelhurst Beach Club. Toss your dinner salad with grapes, figs, pears and apples, all from your yard. Lavender in abundance, hydrangeas, roses, and flitting hummingbirds complete this idyllic scene.
CONGRATULATIONS TO MY BUYERS!
Sleek modern townhome in 5 unit project by R. Thoreson Homes. Open & efficient floor plan flows beautifully. First floor: formal entry, full bath & good-sized bedroom. Main floor: tasteful great room design with floor to ceiling windows, wide-plank hardwood floors, chef’s kitchen with quartz counters, quality stainless appliances & walk-in pantry. Top floor: roomy master suite with walk-in closet and luxurious bath. 4 star Built Green. All this plus a private roof top deck w/ great views.
Tax deadline has come and gone, but you are like me and wading through unfiled papers; I have a great list of what you need to keep, how long you need to keep it for, and where you should put it!
Originals You Rarely Need should be in Safe-Deposit Boxes & Never Discarded.
Household Inventory: Lists and photos of your possessions (I use Evernote for this task. It is an amazing tool for many home organization projects.)
Divorce Decrees & Lawsuits: A copy should be given to your lawyer
Originals You May Need Occasionally should be kept in an In-Home Safe or Locked Cabinet and Kept.
Birth Certificates Death Certificates: Copy should be given to an Executor
Diplomas Health & Immunization Records
Marriage Certificates: Copy should be given to an Executor
Medical Directives: Copies should be given to both your heir and doctor
Real Estate Deeds: Keep 10 years after Sale
Tax/Financial Documents stored in Locked Cabinet for 7 years.
Bank and Credit Card Statements
Cancelled Checks
Home Purchase/Improvements
Tax Returns/Related Documents
Sweeping city views on the 22nd floor at the Cristalla. Spacious 1 bedroom and den features slab honed granite, stainless appliances and spacious bath with double vanity, granite, travertine and glass tile shower. Amenities include 24-hour concierge, fitness gym, hot tub/sauna/steam room, business center, movie theater, entertainment lounge, guest suite, and a fabulous rooftop terrace with breathtaking city, Space Needle, Puget Sound and mountain views.
It can easily cost $200 to have a rug professionally cleaned. It’s also a hassle.
You can clean it yourself by placing a plastic drop cloth or tarp underneath it, then using a carpet cleaner. If you don’t have one, you can rent one at many different grocery stores, or borrow one from a friend. Make sure to vacuum it well, first!
CONGRATULATIONS TO MY BUYERS!
Bring your tools and imagination OR your contractors. This home has the room and lot of potential. There is a new roof and gutters. Also, an unfinished basement to make electrical and plumbing work accessibly before refinish for more usable space. Huge lot for add-on or an attached garage. Lot of room for sweat equity. Located in quite street but near bus line, freeways, parks, school and downtown Seattle.
Open and spacious floor plan, 3 bedroom, 3.25 bath located on a quiet cul-de-sac. Entertainment sized living room, dining room features built in buffet, large kitchen with breakfast bar, slab granite, stainless steel appliances, hardwoods throughout main floor, tiles baths, master bathroom suite with second ensuite bedroom on upper level. Attached garage with alley access. Private fully fenced yard with patio and mature garden oasis. Easy access to I-5 and Highway 99. Walk to Green Lake. Close to shopping and dining.
