Betsy’s Blog

First Recent Year Over Year Price Drop

King County held steady longer than surrounding areas, but marked a 7% year over year sales price reduction in February; according to the NWMLS. This was the first monthly, year over year drop since May 2020. Prices in 2022 continued to rise through the second quarter, so we will likely see this become a pattern. […]

Substantial Losses Reported at Zillow & Redfin

The Seattle Times recently reported that both Redfin and Zillow showed drops in gross profit, with substantial losses. Over my decades in the industry, I have focused on doing an exemplary job of representing both my buyer and seller clients. Real Estate is a people business, with excellent service dependent upon good technical knowledge and […]

Escrow Tip-Escrow and IRS Reporting

This post is courtesy of Chicago Title Insurance, re-posted with permisssion What exactly do settlement agents have to report to the Internal Revenue Service? In accordance with IRS Regulations the settlement agent must report the sale or transfer of an interest in U.S. real property by filing IRS form 1099-S Proceeds from Real Estate transactions, […]

Excise Tax Increase for 2023

Washington State charges an excise tax on the sale of real estate. The rate can vary by county and locality. For the vast majority of the property in King, Pierce and Snohomish Counties; the rates are as follow: 1.6% of the first $525,000 in sales price 1.78% of the amount between $525,000-$1,525,000 3.25% of the […]

January 2023 NWMLS Statistics

The Northwest Multiple Listing Service has just come out with their statistics for Jan 2023 and I am not surprised. While King County prices dropped 3.1% year over year for the 4th Quarter; January tells a different story. For Eastside Areas, median closed prices were down 13.16% in January, year over year. December 2021, sales […]

The Gardner Report 2022 Q4

Windermere is wise enough and fortunate enough to work with Chief Economist Matthew Gardner. Having complex economic and real estate data evaluated at the state and county level is a great benefit to me as an agent, my buyers and sellers. King County lost 3.1% in average home sale prices for the 4th quarter of […]

Real Thoughts

First Recent Year Over Year Price Drop

Substantial Losses Reported at Zillow & Redfin

Escrow Tip-Escrow and IRS Reporting

Excise Tax Increase for 2023

January 2023 NWMLS Statistics

The Gardner Report 2022 Q4

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Betsy Weyer