My Thoughts

Market Updates 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.  […]
My Thoughts 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 […]
My Thoughts 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, […]
My Thoughts 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 […]
Market Updates 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 […]
My Thoughts Happy New Year! Here’s to a positive start to the new year!  If you have questions or thoughts about your real estate world, please contact me.  I’m happy to chat and answer any questions you might have. Also-look for your new property tax bills to be mailed Valentine’s Day.
Living Heat Pumps to Be Required Starting July 0f 2023, heat pumps will be required in all new construction homes, including apartments; in Washington State. This ruling by the Washington State Building Code Council was made Nov 4, 2022 and reported in The Seattle Times on November 8, 2022. In April of 2022, the state’s building code was revised to require […]
Area Market Updates 3rd Quarter Gardner Economic Report View Q3 2022 Report
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My Thoughts Money Magazine Ranks Kirkland 3rd Best Place in US All of us who consider ourselves Kirkland Natives think the rank should be 1 or 2, but we’ll take this as a win.  Money magazine considers Atlanta (too hot and humid) and Tempe (too hot and dry) as number 1 and 2, but I’ll let you decide for yourself. Good job growth, great parks and […]
Area Market Updates September MLS Sales Information Higher interest rates are making it tougher for buyers and sellers.   The interest rate is  about double what it was earlier in the year.  Rates near 3% have disappeared and are now about 6%.  While home price appreciation has slowed from the frenzy of the first quarter of 2022, buyers are still not able to […]
Market Updates CNBC Ranks Washington as 2nd Most Stable Housing Market in the United States As reported by Lillian Dickerson of Inman News, the housing market and the economy at large have taken a wild ride this year, with home prices clinging to historic highs and mortgages hitting rates far surpassing the lows of 2021. Among that news, comes an analysis by CNBC regarding which states’ housing markets are the […]
My Thoughts Working With the Market Communication has always been one of the most important aspects of working with real estate clients.  When you are caught listing a home, just as the financial/stock/real estate markets are experiencing historic changes; it’s even more important.  Researching current activity on an almost daily basis, consulting with agents both in and outside your office and […]
Area Market Updates Local Market Sales Volumes Slowed in May 2022 Just a few months back, nearly every Seattle or Eastside home sold on a Review Date.  The sales price was usually over full price and with minimal to no sales contingencies. With the significant interest rate increase this year, we are seeing a slowing of sales activity. Although Seattle median prices increased from $919,000 to […]
Buying Lake Forest Park Classic http://LFPWOODLANDRETREAT.COM You are not cookie-cutter and neither is this home.  Stunning, NW Contemporary nestled in the hills of Lake Forest Park.  Short walk to Horizon View Park and of course, eligible for Lake Forest Park Civic Club membership.  Over 1000 sf of outdoor deck living. Well maintained by longtime owners.  Exterior and much of interior […]
Buying Recent Buyer Client Review Betsy did an amazing job representing us through the entire home buying process. From our initial conversation to the closing of our home, Betsy was very thoughtful, organized, educated and professional. With this being our first home, we had no idea what to expect. Betsy brought calm & guidance to a very competitive market. Her […]
Buying It Matters Who Represents Buyers In this hyper-competitive real estate market, it matters more than ever who you choose to hire as your Buyer Broker/Buyer’s Agent.  Knowing how to make your offer stand out in a crowded field is critical. It was my pleasure to recently represent Casey and Keith on their March Woodinville home purchase.  We worked together to […]
My Thoughts Tight Inventory Puts Pressure on Buyers New listings in King County, for both Jan and February were down 9% compared to 2021. This translated to 443 closed single-family sales in February in Seattle (623 in 2021) and 252 on the Eastside (363 in 2021). More buyers competed for these listings, driving Seattle’s price up 15.9% and for the Eastside, 34.2% year-over-year. […]
My Thoughts Have Household Items to Dispose Of? Contact Habitat for Humanity. Did you know Habitat for Humanity takes items for their Resale Stores? They even recycle paint! Click here for information on items they accept and how you can donate them. They can sometimes even pick up your items.
Area Market Updates Fastest-Growing City in Seattle Area? Not Seattle, which grew at just a .7% rate between 2020 and 2021.  Bellevue only grew at .5%; adding only 750 new residents.  Not Arlington, which grew at 4.1% or Edgewood, which grew at 6.4%; but Black Diamond! Black Diamond grew at a rate of 13% for the same timeframe.  This is due, in great […]
Area Market Updates Inventory is Extremely Low The single family & condominium market in King County is extremely tight.  As of today, there are 728 properties for sale in all of the county.  Median listing price is $830,000.  For Seattle, just 403 listings, median of $780,000. In Kirkland, there are just 18 (!) homes available for sale, with a median listing price […]