Overall Greater Seattle Real Estate MarketThe Greater Seattle real estate market is part of the Northwest MLS.  Pending Sales in August were down 25% across the NWMLS, but the median price In August was the same as July ($615,000) and actually higher than the previous year ($600,000).  Prices remain strong because of low inventory.  Many current homeowners are locked in at historically low interest rates; thus, are generally choosing to stay put rather than sell.  Only 8,152 new listings were added in August.  Down 18% from the previous August which added 9,914.The Greater Condo MarketThe condo market has also faired well. Median prices in August ($465,000) did dip from July ($480,000), but for the second month in a row they did exceed the previous year’s median price ($450,000 in Augus... 09/14/2023

Is it wise to buy a house in Seattle now?It is a complex question that you really should speak to a Seattle real estate broker about, but...the simple answer is yes!  Prices peaked across the NWMLS (26 counties in WA State) in the May of 2022 (median price of $660,000).  However, as the interest rates continued to increase the real estate market began to fade.  Median prices declined each month, but the prices were still higher than the previous year.  Finally in December 2022 it was the first time that median prices dipped below the previous year.  It was a minor dip (Dec 2022 = $570,000; Dec 2021 = $572,900), but a dip nonetheless. Then 2023 began and while the median price again dipped in January ($557,250), something began to happen.   The median price in Feb ($575,000) not only inc... 06/15/2023

Facing overwhelming tax debt can be a daunting experience. Fortunately, the Internal Revenue Service (IRS) offers a potential solution known as an Offer in Compromise (OIC). This comprehensive guide aims to shed light on the Offer in Compromise program, providing you with the knowledge needed to navigate the process and potentially settle your tax debt for less than the full amount owed.Understanding Offer in Compromise:An Offer in Compromise is an agreement between a taxpayer and the IRS that allows the taxpayer to settle their tax debt for less than the total amount owed. It is designed to provide individuals and businesses experiencing financial hardship with a fresh start and a realistic path towards resolving their tax obligations.Eligibility for Offer in Compromise:While an Offer ... 05/22/2023

Median Homes Price continues to increase every month in 2023.  The King County median home price has increased from $781,098 in January to $875,000 in April.  Prices are lagging behind last year when interest rates were much lower, but, now with four months of data, there is a definite trend of increasing prices in 2023.  While there is a seasonal component of increased number of transactions every spring, the 63.5% increase of the number of sales over January is higher than the typical seasonal fluctuation.  Interest Rates?Rising interest rates are a double-edged sword.  In one way the real estate market is being hurt by rising interest rates.  It is putting downward pressure on sales prices because the increased interest makes the monthly loan payments more expensive for buyers unless... 05/05/2023

Is it a good time to buy Seattle real estate?  The NWMLS, including the Greater Seattle real estate market, has seen some positive signs for both homebuyers and homeowners.  For instance, at the end of February there was 1.7 months of housing supply across the NWMLS.  Traditionally, 4 to 6 months is an even market, so that indicates a sellers’ market.  However, last February inventory was at 0.7 months, so in comparison it feels more like a buyers’ market.  Pending sales are down 19% and closed sales are down 17.3% from a year ago so there are less transactions, but with about one-third fewer new listings added this February as compared to the previous February the inventory remains tight.  Not historically tight, but tight nonetheless.Buyers can be encouraged since there has been a mod... 03/17/2023

Has the Seattle real estate market improved?  Seattle is part of the NWMLS.  While pending sales across the NWMLS are still down 9% from last January, the market has shown resilience to begin 2023.  For example, pending sales in January are up 44% over December.  In addition, prices in January are up 0.41% when compared with last January. The improved market seems to correlate with the recent interest rate drop.  Interest rates peaked in November with a Freddie Mac U.S. weekly average of over 7%.  Last week, that number was 6.09%.Inventory is up from the historically low numbers from a year ago.  This January ended with 8,220 active listings versus 3.092 a year ago.  Nevertheless, across the NWMLS inventory is only 2.52 months which is still a sellers’ market.  Four to six months is an ... 02/11/2023

2022 started out the year with both historically low interest rates and record low inventory.  This created a very hot (seller’s) market across the NWMLS and the Greater Seattle condo market.  For example, 2021 ended with the Freddie Mac 30 year fixed rate of 3.05% and NWMLS had 0.40 months of housing inventory.  In comparison, at the end of 2022, Freddie Mac 30 year interest rate was 6.42% and inventory was at 2.09 months.  Thus the real estate market changed drastically over the course of the year.  Nevertheless, the condo market had modest increases at year end.  Across the NMWLS, condo prices were up 1.15% in December 2022 compared to December 2021.  In addition, for the year, 2022 median prices finished above the previous year.Looking at the Seattle condo market, where the vast maj... 01/23/2023

The NWMLS and greater Seattle real estate market changed over the course of the year.  2022 started with a very hot (sellers’) market with both historically low interest rates and record low inventory.  For example, 2021 ended with the Freddie Mac 30 year fixed rate of 3.05% and NWMLS had 0.40 months of housing inventory.  In comparison, at the end of 2022, Freddie Mac 30 year interest rate was 6.42% and inventory was at 2.09 months.  Despite these changes, 6.42% fixed rate is well within the normal range of the 50+ year history of Freddie Mac.  In addition, inventory of 4 to 6 months is typically considered a balance real estate market.  Thus,  anything below 4 months is a seller’s market.  Nevertheless, since the market conditions change so quickly in 2022, to many buyers and sellers ... 01/20/2023

Does Shopping for a Mortgage Hurt Your Credit?  Everybody who makes the leap into buying a home, especially first-time homebuyers, and even those who already own a home and are looking to improve their mortgage must eventually confront the pre-approval process.  That means a mortgage application and a credit inquiry, also known as a hard credit pull. Would it surprise you to know that this is a MAJOR stopping point for some? Even before they really even started.  And the reason is because many have become conditioned to think that even a single credit inquiry will send their perfect FICO scores into a free fall.  Let alone the multiple credit inquires that sometimes accompany shopping for the best mortgage rates and terms. So let's not back down and let's have some rockin' fun with how ... 12/22/2022

Four Opportunities Agents Miss Every Year Every year there are four important time periods that agents don't take advantage of. There are any number of reasons why agents skip out on them - they are tired, burned out, or simply don't have a system or structure in place. As you read my Zebra Report this week, I want you to think about how each of these opportunities might impact and benefit you over the coming year. I would love to hear from you a year from now, about how an opportunity you are no longer missing has made a change to your business. These four opportunities are simple to implement and will pay off in spades, but only if you approach them with intent and determination. Opportunity #1: Holiday Down Time The next three weeks are a gift to you and your business. Chances are, ... 12/16/2022

New Construction in Juanita/Kenmore with ADU OverviewMapsPhotosMarket Stats $2,099,500 Single Family Home Main Features 5 Bedrooms4 Full Bathrooms1 Half Bathroom2 UnitsInterior: 4,068 sqftLot: 11,447 sqftYear Built: 2022MLS #: 1926488 Location 15366 Juanita Drive NEKenmore, WA 98028USA Adrian Willanger Kelly Right Real Estate(206) 909-7536adrian@adrianwillanger.comhttp://www.adrianwillanger-broker.com/      Listed by: Kelly Right Real Estate Our recent listingsNew Construction in Juanita/Kenmore with ADU | $2,099,500 | Kenmore, WA Subscribe to our listing feed Nearby properties for sale 11/08/2022

Bellevue Luxury Real EstateBellevue especially when including the small cities and towns of  Clyde Hill, Medina, Hunts Point and Yarrow Point, is a luxury real estate market.   The area had an average home sales price of $2.307 million in October.  In addition, over 42% of the Bellevue area homes that sold, sold for $2 million or more.  Thus, 40 of the 94 of the homes sold, sold for over $2 million.  Furthermore, of those 40, 20 sold for between $2 and $3 million, 7 for $3 to $4 million, 6 between $4 and $5 million, and 7 for $5 million or more.  The most expensive sale was on Evergreen Point (Medina).  The 7,180 sq ft waterfront home sold for $10,500,000.   Ironically, only two of the 40 sales were waterfront.Mercer Island Luxury HomesMercer Island is also very much a luxury home marke... 11/04/2022

Make a Money Date One of the secrets to my success is being a great steward of money. I have often said that no one can care for your money or track it as well as you can. But being a good money manager/tracker doesn't happen by accident; the key is to have the personal self-discipline needed to track your money every single month. That's right, make a standing money date with yourself! Choose a day of the month, such as the first Monday of the month, add it to your calendar, make it a recurring appointment, and block out that time! Treat yourself to a nice coffee, light some candles, turn on some music and try to make it a special occasion so you can get down to business. Below are the things that I do on my money date every month: Receipts The first thing you must manage is the colle... 11/01/2022

How to Rock a Low House Appraisal Value!!!  You found the perfect home... And the seller accepted your offer... And your mortgage application is underway... Until your appraisal comes in low.  What now??? Never mind all the bad advice that swirls around this dilemma.  There are a handful of effective ways to deal with an appraisal value that comes in under your offer price, so if you find yourself in this stressful situation today, get in touch.  Or perhaps you're a Realtor or buyer looking to better understand all of the tactics and tips that you can use to negotiate a low appraisal in today's challenging real estate market.  If so, come as you are and let's learn how to rock a low appraisal value today.   Smells like teen spirit,  Rob SpinosaSVP of Mortgage LendingGuaranteed RateNMLS:... 10/25/2022

Changing Markets Means Changing Strategies We have all been to many workshops and classes over the years - I know I have. Education is always something I have been passionate about. I love teaching and I love learning! As the market experiences both large and subtle changes, we need to change our strategies accordingly. Being open to education is an extremely important trait in our industry, especially when the market shifts quickly. Taking a class is like a shortcut to save time and money. I have some great classes coming up, including the 2-day "Stop Making Excuses, Start Making More Money!” class and the 3-day Prosperity Strategy event in Palm Springs. Invest in yourself this autumn by coming to a class and learning something new. I hope to see you there! Join us for FOUR compelling... 09/30/2022

Client Events for Anyone How do we plan a client appreciation event that keeps everyone happy? Simple - we don't! What we need to find is the sweet spot that appeals to the most people. When I started planning a client appreciation event, my first step was to classify my past clients. I had groups of families, couples, single professionals, seniors, and more. Then, I tried to think of something that would appeal to all generations. Watch the video for some of my most successful ideas—and my least successful event idea—and the keys to creating a winning past-client event that lots of your past clients will love to attend year after year. Need help with getting the word out? Or maybe your event needs some specialty design work. Event RSVP postcards, flyers, menus, favor-bag stickers, ban... 09/16/2022

Client Gifts and Events Don't let 2022 slip by without recognizing your clients in a big way. Although the pandemic is still affecting us, our celebrations had to be tamped down over the last couple of years. So, dust off that past client database and let's do some big planning between now and the end of the year! Gifts? Events? What Do I Do? If you have never done any gifting or live appreciation event before, now is a great time to dive in. There are really only a few things to consider: What would be meaningful to you? What would be meaningful to your clients? How can you work in an element of live connection? How much time do you have? What is your budget? Start making a list and jotting down some ideas over the next few days and in the meantime, let’s dive a little deeper into the... 09/09/2022

Past Client Neglect We've all done it. There's not a real estate professional out there that hasn't at one point or another (or many times) neglected their past clients. It's easy to do. Just like anyone else, our current clients and urgent to-do list can take up all our attention and time. So, we need to have a system to ensure that we don't forget those past clients. In today's Zebra Report I share how I created systems to stay in contact with my past clients and the key factors in making your system work for you. While you are here, if you are in Washington State, check out this workshop I will be teaching this coming October 24-25 and December 5-6 at the Lynnwood Convention Center. LEARN MORE If the last few years have been a roller coaster, you need this class to refocus on the ac... 09/02/2022

How to Rock Adding a Co-Signer on a Mortgage!!!  When your fantasy of owning a home meets the reality of qualifying mortgage, it can sometimes mean that you'll need a little help.  And in more than a few of those cases, the most elegant solution can be a co-signer, technically known as a "non-occupant co-borrower" within the mortgage industry. So, who makes a good co-signer and who's just "bad company?" Let's learn how co-signers can impact, both good and bad, the three most critical elements of any loan approval; income, assets and credit. I won't deny it,  Rob SpinosaSVP of Mortgage LendingGuaranteed RateNMLS: 22343 Cell/Text: 415-367-5959 rob.spinosa@rate.com Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 *The views and opinions expressed on this site about work-r... 08/25/2022

NWMLS July UpdateThe greater Seattle real estate market is still strong just like the rest of the state, but there are signs of change.  For instance, across the NWMLS pending (-24%) and closed (-30%) sales are down from the previous year.  Thus, the number of condos and homes listed is up to 15,381 which is nearly twice the amount last year (7,948 listings).  Thus, inventory supply is just over two months which is the highest it has been since January 2019 when there was 2.3 months' supply.  Despite the slowdown in the amount of sales, it is still not to the 3 to 6 months that is considered an even real estate market.  Therefore, prices are still up from the previous year.  Median prices across the NWMLS are up for homes 6.6% and 8.6% for condos.  Similar Results for Seattle Homes and ... 08/10/2022