Team Reba’s July Real Estate Newsletter

Here is a link to my “July Real Estate Update”:

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, or homeowner.

This month’s issue includes topics such as:

“Consider Total Costs When Mortgage Rates Rise”;
“Eight No-skip Steps To Buying a Home”;
“The Critical First Two Weeks of Marketing Your Home For Sale”;
“When Not To Try And DIY”;
“5 Unexpected Side Benefits of Homeownership”;

Plus a roundup of June real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

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New on the Market – Kentlake Highlands Home Offered at $325,000

Peaceful & Private all while being in a wonderful neighborhood. This beautifully maintained home sits on a large lot at the end of a dead end street & backs up to protected wetlands. Enjoy designer colors and elegant finishes throughout. The well designed main level offers an open floor plan, kitchen w/ stainless steel appliances & bonus office. Upstairs you will find all 3 nice sized bedrooms including the Master w/ large 5 piece bath & WIC as well as a huge loft. 1 yr home warranty included. More Photos Can Be Found Here. 

KleinJPEG

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Fairview Park in the Eastlake neighborhood of Seattle

As you can imagine, real estate brokers who cover a broad area get to see a lot of fun things in each of the neighborhoods where we frequent with clients. As part of our ongoing interest in educating people about the Greater Seattle area, we’ll be posting short videos on YouTube of spots that we think are fun for neighbors and visitors to the area alike! Here is one of our first videos highlighting a great local park in the Eastlake neighborhood (between South Lake Union & U Dist/Montlake) that you just don’t fully appreciate from street level.

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Team Reba’s Newest Listing – Lovely Home in Redmond

Stunning Burnstead home in the desirable Abbey Road community. Located at the end of a quiet cul-de-sac this home is a sanctuary while allowing for easy access to the city. Gleaming hardwoods, large kitchen, beautiful formal spaces plus great room to relax in. All 4 Bedrooms are upstairs including the master suite w/ large private bath. 4th bedroom could be bonus room and is huge – potential for media or game room. New roof, 3 car garage & 1-Yr Home Warranty. More Photos Can Be Found Here.

LawsonJPEG

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The NWMLS supports the statements of it’s a HOT real estate market in Seattle

Pent-up demand triggering record pace of home sales around Western Washington
Current Statistics | Market Recaps | Market Update Charts

Northwest Multiple Listing Service members notched a record high level of pending sales during April, surpassing the year-ago volume by nearly 1,800 transactions. Both closed sales and prices also surged last month as the spring market kicked into high gear.

Buyer confidence and buyer ability to purchase are fueling activity, suggested Ken Anderson, the managing broker and owner of Coldwell Banker Evergreen Olympia Realty. “Long building pent-up demand is being unleashed,” he commented.

MLS members reported an 18.7 percent year-over-year increase in pending sales, with the volume of mutually accepted offers rising from 9,590 transactions to 11,384. For the four-county Puget Sound region members logged 8,671 pending sales to top the 8,000 mark for only the second time in the past 16 years.

Closed sales and prices also accelerated, according to Northwest MLS statistics. Across the 23 counties covered by the report there were 7,696 closed sales. That total represents a 24.3 percent increase from the year-ago volume of 6,190 closings. Within the four county region, Pierce County experienced a jump of nearly 38 percent in closed sales compared to a year ago, followed by Snohomish County with a 35 percent increase, prompting one MLS director to comment, “That is super amazing.”

“We are still very clearly in the midst of a seller’s market and unless we see a significant increase in listings, it will remain that way for the foreseeable future,” remarked OB Jacobi, president of Windermere Real Estate. Jacobi and other brokers reiterated the dire need for listings.

Members added 11,495 new listings to inventory during April, but brisk sales kept supply tight and well below the level of a year ago. At the end of April, the MLS reported 18,132 listings of single family homes and condominiums in its database, a drop of more than 15 percent from the year-ago total of 21,390.

Compared to March, inventory at the end of April improved by 6.6 percent, but pending sales jumped 13.7 percent from the previous month.

“We’re in desperate need of inventory so I hope to see an increase in listings as we move further into the late spring/early summer,” stated Jacobi.

J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, noted the record sales activity is lowering the months of supply of inventory and continuing the upward movement of pricing.

Northwest MLS figures show less than 2.4 months of supply at the end of April, down from the March figure of 2.5 months and down from a year ago when there was about 3.5 months of supply. Inventory is especially tight in King County, with 1.3 months of supply, and Snohomish County, with about 1.5 months. Many industry analysts use a range of four-to-six months as an indicator of a balanced market.

Prices on last month’s closed sales were up 12.4 percent. The median price for April’s sales of single family homes and condos was $309,000, which compares to the year-ago price of $275,000. For single family homes only (excluding condos), the median price rose from $287,500 to $320,000 for a gain of 11.3 percent. Condo prices jumped nearly 13.8 percent system-wide.

In King County, where homes fetch the highest prices, the median price of last month’s sales of single family homes was $480,000. That reflects a gain of 11.5 percent from the year ago price of $430,500. King County condo prices increased about 8.8 percent from a year ago, rising from $250,000 to $272,000.

“What’s available and that looks at least ‘pretty good’ is selling,” according to MLS director Dick Beeson, principal managing broker at RE/MAX Professionals in Tacoma. Commenting on the latest MLS statistics, he said, “What we have in the Greater Puget Sound real estate market is too many buyers chasing too few homes.”

Beeson cautioned buyers against “playing games” with sellers. “The new normal for buyers is that the quest for the perfect home may have to wait,” suggested Beeson. “You should buy now, get in the mix, buy a home and build equity for a future decision,” he advised. “Don’t wait to pay more for the same home next year.”

Brokers do not appear to be worried about a housing bubble.

“Some are talking about the potential for another housing bubble given the lack of homes for sale and the bullishness of buyers in bidding up properties,” acknowledged Jacobi. “For now,” he said, “I believe there are sufficient safeguards in place to keep this from happening.”

Anderson agreed. “With pending home sales in Thurston County at record levels I am often asked if we are repeating the problems the last run-up caused,” he stated, adding, “There are two important differences in this market. There is not the overbuilding we saw before, and the buyers are truly qualified for today’s mortgages. Both facts suggest we won’t have a problem with the oversupply that contributed to the recent downturn. This time the market improvement is built on solid footings.”

Northwest Multiple Listing Service, owned by its member real estate firms, is the largest full-service MLS in the Northwest. Its membership includes more than 23,000 real estate brokers. The organization, based in Kirkland, Wash., currently serves 23 counties in Washington state.

Contact us here at Team Reba using info (at) Team Reba (dot) com, if you’d like to request a specific breakdown of information for your home or area.

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Real Estate news in May 2015 for the Seattle area and beyond by Team Reba

We’re fully enjoying the lovely spring weather and the gorgeous blooms going on out here in the Pacific Northwest and hope you’re getting outside to enjoy it too!

Speaking of blooming, the local real estate market has been growing like crazy and now is the perfect time to take advantage of this seller’s market but also the low interest rates for buyers.  Whether a home buyer, looking to sell or looking for an investment, Team Reba is the Team for you!  Our #1 goal is to always set you up for success.

Here is a link to the Team Reba “May Real Estate Update“:

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, renter or happy to stay put homeowner.

This month’s issue includes topics such as:

“It Doesn’t Pay to Wait To Buy A Home”;
“Online Home Values And The Price of Your Home”;
“Why Older Homes Rock”;
“Sellers: Ramp Up Your Curb Appeal”;
“The 7 Hot Home Trends That Might Not Be Right For You”;

Plus a roundup of April real estate activity as well as much more advice and information.

As always, thank you for your business and your referrals.  Cheers from all of us here at Team Reba!

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Mosquito Fleet Winery and 4th of July in WA!

I recently met the very cool and nice owners of the Mosquito Fleet Winery at a commercial ‪#‎realestate‬ event I was attending with Regus office spaces. If you’re out near Belfair, WA anytime, I recommend you stop in and check out their place and have a tasting. I was impressed with their Cab Franc and the Meritage. In fact, if you happen to be coming to XLB – Crossing Lines Band at Old Mill Americana Days then you’ll be out that direction anyway, especially if you take the holiday weekend off and tour around this beautiful state of ours. Make it one of your stops, you won’t regret it!

 

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WSHFC sponsored Home Buying Class May 9th with Team Reba

Home Buyer Steps Workshop

05/09/2015
10:00 am – 3:00 pm

Youngstown Cultural Arts Center – 4408 Delridge Way SW, Seattle WA 98106

Home Buyer Steps is a Workshop approved by Washington State Housing Finance Commission (WSHFC). The Home Buyer Steps Workshop is 5 hours and designed to provide participants with a Step by Step guide to the Homebuying process. Once completed you will receive a certificate of eligibility to apply for down payment assistance or a Mortgage Credit Certificate if your income qualifies you. This class is perfect for ALL first time home buyers and those who haven’t purchased in many years but is not limited to 1st time buyers as a few WSHFC programs apply to many others as well based on area, job type, and income.

Together, we will help you understand and have working knowledge of:

1) Your Credit Score and its impact on your financial life.
2) Creating and working on a Budget
3) The Home Inspection Process
4) How to Find Realtor’s and Loan Officer’s with your best interests at heart.
5) How to protect yourself from Predatory Lending and how to interview a real estate agent.
6) Reading a Good Faith Estimate, Truth In Lending, and other essential documents.
7) Understanding what Escrow and Title are with industry speakers on the topic, along with available home warranty programs.
8) Going over all your different loan options including those specific to first time buyers.
9) In Depth on the Mortgage Credit Certificate, Home Advantage, and House Key Programs.

Our Workshops are done free of charge by local industry experts who volunteer to help you take the next step. We are happy to help you along the way and will answer all your questions. Upon completing the workshop you will feel more confident as a consumer and empowered in your path to home ownership.

Find Out More about WA State Housing Finance Commission programs at: http://wshfc.org/
Class Location info at: www.youngstownarts.org 

RSVP to Classes@TeamReba.com or call 425.970.3697

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Team Reba Real Estate Newsletter and Market Update for March 2015

Here is a link to my “April Real Estate Update“:

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, or homeowner.

This month’s issue includes topics such as:

“Don’t Let Mortgage Myths Scare You”;
“Five Smart Homebuyer Strategies”;
“Good Credit Is Just As Important After Your Home Purchase”;
“3 Key Pre-Offer Home Seller Actions”;
“What Sellers Should Know About CMAs”;

Plus a roundup of March real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

 

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