Winter 2017/2018 Newsletter

January 2, 2018

Seattle Market Update – it is a seller’s market – low supply/high demand

In Seattle, year-over-year prices jumped 17.6 percent, from $625,000 to $735,000. On the Eastside, the median price for a single-family home rose 10 percent from a year ago, increasing from $768,000 to $845,000.
Where are prices headed or which factors will dictate market conditions and pricing in the future? For the immediate future, it is our assessment that home values are continuing to increase because the low supply cannot fill the high demand of housing.
For those who are worried that lending standards are again becoming too lenient and fueling the demand, we do not believe that’s the case. We also do not think that there is blind faith or irrational speculation causing extra demand on housing. Plain simple, for now, the continued increases in prices follow the theory of supply and demand.
Whenever there is a limited supply of an item that is in high demand, prices increase. In real estate, it takes a six-month supply of existing salable inventory to maintain pricing stability. In most housing markets, anything less than six months will cause home values to appreciate and anything more than seven months will cause prices to depreciate. In King County, the supply is less than a month!
We are not sure how buyers and sellers feel about the announcement of a provision in a GOP tax proposal to cap the mortgage interest deduction and how it might affect seller’s decision on selling their property or affect affordability for buyers. According to the proposal, if you purchase a new home (new to you), and your mortgage is greater than $500,000, your interest deduction is being capped. The current mortgage interest deduction cap is 1 million dollars.

Our Listings

13343 3rd Ave NE, Seattle 98125 – 4bd/2.5bth, 2-car carport: Spacious Haller Lake Home – $650,000 – One owner only! Lovingly maintained home. Spacious & updated kitchen. Huge dining area. Hardwoods throughout upper/main floor (under carpet). 3 bedrooms/1.5 baths on one level. Possible MIL/Airbnb with separate walk-in entrance w/ one bed/full bath downstairs. Lovely deck off the kitchen and beautiful mature landscaping. New furnace, newer roof, exterior paint, newer interior doors, new water line. Lots of upgrades. Quiet neighborhood w/ easy access to I-5 & 99 & upcoming Northgate Lightrail. Click here for more information and pictures.

Did we mention it is a seller’s market? We are ready to list your home – let us know if you are thinking of selling.

Quick Winter Tip for Homeowners

Cold weather is here, please remember to disconnect your garden hoses from the house, this is the number one cause of frozen pipes. Cover exterior faucets to insulate them and keep them from freezing.

We’d love to hear from you
Any questions, comments, or feedback? Contact us any time, we’d love to hear from you.

Happy Winter,
Krisanne and Kerstin

http://www.propertyinseattle.com

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Fall 2017 Newsletter

January 2, 2018

Seattle Market Update – it is a seller’s market / prices are up / inventory is low:
(published 09/10/2017)

Seattle continues to “lead the nation in home-price growth”, no city has seen this kind of growth we have here for the last year; except for San Francisco three years ago. Our current year-to-date price increase is double the national average.

Working with buyers this year has proved difficult as prices kept rising every week and competition has been fierce. The emotional toll was all too real and raw for some of our clients but most persisted and moved into their new home. Some of our sellers, of course, were delighted with the gains.

It isn’t just buyers and sellers feeling the real estate roller-coaster and soaring property values. Rents are up, too, especially in urban centers with easy commutes and availability of rentals is a problem, as well.

Have you checked your property tax assessment? The tax rate has gone up and your property value has gone up, so you are paying considerably higher property taxes now than a few years ago.

Where are prices headed? Amazon and other employers have attracted talent to the city and played a major role in its economic growth, the rise in rents and home prices; but now that Amazon has announced plans to open a second, “equal” headquarters somewhere else, Seattle’s housing prices, rents and development boom might slow a little, especially in the core of the city. Time will tell.

Our Listings

None at this time. Did we mention it is a seller’s market? We are ready to list your home – let us know if you are thinking of selling.

Quick Tips for Sellers

1, Make sure your home is properly priced. Pricing too low or too high can result in a lower sales price.
2, Create curb appeal. Many potential buyers assume a house that shows poorly on the outside will show poorly on the inside, as well.
3, Make sure everything is in good working order. Even smaller defects like a drippy faucet can raise concerns about the overall condition of the home for a potential buyer.
4, Clean and paint. A house that shines and feels clean will sell faster and for more money.
5, Consider staging your home. It will help potential buyers envision themselves in your home.

We’d love to hear from you
Any questions, comments, or feedback? Contact us any time, we’d love to hear from you.


Winter 2016/2017 Brooks & Heinze Newsletter

January 20, 2017

Seattle Market Update – it is a seller’s market / prices are going up:  

The end of the year is just a few weeks away. The weather is cooling with winter knocking on the door. Real estate prices are not cooling – quite the opposite actually.

We are seeing a lot fewer listings hitting the market which is common for winter. Home listings have been scarce all year and supply has been critically low leaving many would be buyers in their current home or rental longer than they wish.

Low inventory, coupled with low interest rates, a robust job market, staggering foreign cash investment in real estate (mostly from Chinese buyers) and our exceptional Seattle lifestyle keep driving demand and property prices up in urban areas. Prices in rural areas are increasing more moderately but we are still seeing prices go up.

The Federal Reserve is meeting on December 14 and is expected to raise the Federal Funds rate. If the Fed indeed raises this rate, banks will have to pay more to borrow money – which could in return result in a higher mortgage interest rate for buyers.

Normally, we recommend sellers not list their home between Thanksgiving and mid-January, as there is generally less interest from buyers over the holiday season. However, with the current imbalance in supply and demand, fueling multiple offers and with so many willing and able buyers still looking for a home, we expect December and January this season to be just as good a time as any of the year to sell.

Winter Contest

Our quarterly photo contest continues. The theme this quarter is “Winter Wonderland at Our House”.  Submit a picture from your house highlighting the season. It can be a picture of holiday decorations at your home, a snow man you made in your backyard, a special holiday treat you made, etc.  – surprise us! Rules: Only one picture per person – must be submitted by January 5, 2017. Submit to us via email – we will publish it on our facebook page. The winner will get a $30 gift card, the 2nd and 3rd prize will be a $10 gift card to a venue/store of the winner’s choice.

We’d love to hear from you

Any questions, comments, or feedback? Contact us any time, we’d love to hear from you. We hope you enjoy the upcoming holidays.  Happy Winter !

  *** Kerstin & Krisanne ***

Brooks & Heinze Real Estate Team
Skyline Properties, Inc. 
Kerstin Brooks - 206.276.5827
Krisanne Heinze - 206.920.2541
Email: info@propertyinseattle.com 
www.propertyinseattle.com

Fall 2016 Brooks & Heinze Newsletter

January 20, 2017

A hint of fall is in the air as we move into the Labor Day Weekend. Please read our fall newsletter below to learn more about current real estate market conditions and other topics related to your house and home.

Seattle Market Update: 

Home prices are still rising although the pace of appreciation has slowed down a little. Extremely low inventory in the past couple of years, an influx of buyers relocating to Seattle, low interest rates, as well as foreign investors have been the main drivers in prices skyrocketing.

It is still a seller’s market but not as strong as just 6 months ago. We have seen the supply of homes improve slightly in some areas, nonetheless, inventory remains well below the supply needed for a more balanced market, so buyers are still competing for homes and are having to make strong offers with few or no contingencies for a chance to secure a home, especially in popular neighborhoods with good schools. However, there are some rural areas that we would no longer consider to be in a seller’s market.

Most people know that the best time to sell a house in Seattle is between April – June. However, did you know that September is the second best time to sell your house! We expect to be very busy, in fact we will have several listings coming on the market in the first two weeks of September.

Our Listings

Burien Rambler – 11641 16th Ave S, Burien, WA 98168: 4 bedroom / 1.5 bath – spacious rambler on large lot. $295,000. More info at http://www.propertyinseattle.com/listings.html

Shoreline Condo – coming soon: 2 bedroom / 1.5 bath beautifully remodeled Shoreline condo.

Seattle Townhouse – coming soon: 3 bedroom / 2.5 bath Jackson Park townhouse.

We’d love to help you sell your home if you are thinking of selling.

Get your house ready for the Wet/Cold Season

1) Furnace Inspection: Call an HVAC professional to inspect your furnace and clean ducts. Change your furnace filter.

2) Get the Fireplace Ready: Cap or screen the top of the chimney to keep out rodents and birds. Call a chimney sweep to remove soot and creosote. Inspect the fireplace damper for proper opening and closing.

3) Use weather stripping around doors to prevent cold air from entering the home and caulk windows. If you have storm windows, install them.

4) Inspect Roof, Gutters & Downspouts: Check flashing to ensure water cannot enter the home. Replace worn roof shingles or tiles. Clean out the gutters and use a hose to spray water down the downspouts to clear away debris.

5) Check Foundations: Rake away all debris and edible vegetation from the foundation.Seal up entry points to keep small animals from crawling under the house.

6) Buy new smoke detector batteries and change them when daylight savings ends. Install a carbon monoxide detector near your furnace and / or water heater.

7) Prevent Plumbing Freezes: Locate your water main in the event you need to shut it off in an emergency. Drain all garden hoses. Insulate exposed plumbing pipes.

Fun Things To Do In the Fall

Seattle is a great city with lots of diverse indoor and outdoor events – take a look at the Seattle Events calendar to find out more about activities like beer tasting, dancing, carnivals, arts shows, car shows, parades, sports events and more.

Any questions, comments, or feedback? Contact us any time, we’d love to hear from you.

Happy Fall!

*** Kerstin & Krisanne ***


Summer 2016 Brooks & Heinze Newsletter

June 15, 2016

Seattle Market Update: 

It is still a strong seller’s market. However, statistics point to gains in the volume of new listings during the last two months. Nonetheless, inventory remained well below the supply needed for a more balanced market, so buyers are still competing for homes and are having to make strong offers with few or no contingencies for a chance to secure a home especially in popular neighborhoods with good schools.

Low inventory and low interest rates are still putting upward pressure on prices. However, prices showed some signs of moderating. Given the lack of new home construction and the huge pent-up demand, the seller’s market will likely continue though for some time.

There are growing signs “of buyers’ fatigue” – some buyer’s deciding not to buy in a market that seems too aggressive and out of control.

We are also seeing some sellers being too optimistic and missing the mark as they price their property too high and then end up languishing on the market and in the end getting less than list price.

Our Listings

513 NW 197th St, Shoreline, WA 98177 – $635,000. Beautifully maintained, spacious Shoreline home close to Syre Elementary & Einstein Middle School. Enjoy the park-like backyard setting great for year-round entertaining. This home features 5 bedrooms plus bonus and rec room, 2.5 baths, and 2 car-garage with extra storage.  For more information and pictures of this home, please go to Our Listings on our webpage.

87066 NE Old Cascade Hwy, Skykomish, WA – $70,000. Skykomish Off-Grid Cabin. Escape into the beautiful Mt. Baker-Snoqualmie Forest on weekends or live off-grid year-round in this cozy 1 bedroom cabin off Hwy 2. Tucked away in the woods, yet easily accessible. Wood burning fireplace for heat and ambiance. Plumbed for propane. Wired for generator. Kitchen plumbed via cisterns. Propane and wood cooking stove in kitchen. Outhouse ready for portable sani-toilet. River frontage. Over an acre of land. Just a little over an hour from the city. 6 miles west of Stevens Pass.

We’d love to help you sell your home if you are thinking of selling. Did we mention that it is a seller’s market?

Fun Things To Do This Summer

Seattle is a great city with lots of diverse indoor and outdoor events – take a look at the Seattle Events calendar to find out more about activities like beer tasting, dancing, carnivals, arts shows, car shows, parades, sports events and more.

Any questions, comments, or feedback? Contact us any time, we’d love to hear from you.

Happy Summer!   *** Kerstin & Krisanne ***


Buying a Home is Better than Renting, right?

December 19, 2015

The truth is, there’s no one right answer or one size fits all when it comes to determining whether to rent or buy a house. There are a number of considerations you must make when making this decision. Renting and buying both present a number of pros and cons, and your own financial situation and personal preference may be the biggest factor of all.

Pros & Cons of Renting: Despite the fact that you can’t build equity, renting offers you the most freedom and flexibility, especially if you are on a month-to-month lease.

prosconsrenting

Pros & Cons of Buying a Home: Homeownership is not for everyone, but there are some financial and emotional advantages that can be enticing.

proconsowning

Initially, renting is almost always cheaper than buying but in the long run (often after 3-5 years), buying is more affordable depending on your local market, income, tax situation and current financing costs.

If you want us to help you determine whether renting or buying is a better choice for you in the Greater Seattle Area, please contact us for a free, no-obligation consultation.

Kerstin Brooks & Krisanne Heinze
Brooks & Heinze Seattle Real Estate Team
Skyline Properties, Inc.
Phone: 206.276.5827
Email: info@propertyinseattle.com


Brooks & Heinze Seattle Real Estate Team – Winter Newsletter

December 17, 2015

It’s hard to believe but the year is almost over. Seems like life is just rushing by at times. We hope you will have a chance to slow down over the holidays. May you have time to reflect on this year and make plans for a happy and healthy 2016.

Seattle Market Update: Year in Review & the Year Ahead

Inventory levels were critically low all year, making 2015 a strong seller’s market. Acute shortages are still evident in King and Snohomish counties, both with less than two months of supply. Six months of inventory supply is considered a balanced market – we are definitely in a seller’s market. Seattle has a great job market with many families relocating to the area and increasing demand for housing. We expect sales prices and rents to continue increasing in 2016.

All year, analysts expected the Federal Reserve to increase interest rates. This last Wednesday, the Fed finally raised its key short-term* interest rate by 0.25%. It was the first rate hike in a long, long time. The Fed slashed interest rates to zero in December 2008 to stimulate the economy and boost the housing market during the depths of the Great Recession.

The change in the fed’s short-term rate, however, does not mean that the average rate on the 30-year fixed mortgage will now automatically be a quarter point higher. Nevertheless, we expect to see mortgage rates to climb as a result of the Fed’s decision.

* Definition of Short-term interest rates (https://data.oecd.org/interest/short-term-interest-rates.htm) Short-term interest rates are the rates at which short-term borrowings are effected between financial institutions or the rate at which short-term government paper is issued or traded in the market. Short-term interest rates are generally averages of daily rates, measured as a percentage. Short-term interest rates are based on three-month money market rates where available. Typical standardized names are “money market rate” and “treasury bill rate”.

Our Listings

We have no current listings, but we’d love to help you sell your home if you are thinking of selling in 2016. Did we mention that it is a seller’s market?

We have moved

We have moved our office. We only moved half a block down the street. So, we are still in Northgate near the transit center and the Northgate Mall. Our new address is 9750 3rd Ave NE, Suite #425, Seattle, WA 98115.

We’d love to hear from you

Any questions, comments, or feedback? Contact us any time, we’d love to hear from you.

We hope you enjoy the holidays.

Happy Winter!

   *** Kerstin & Krisanne ***

Brooks & Heinze Real Estate Team
Skyline Properties, Inc.
Kerstin – 206.276.5827
Krisanne – 206.920.2541
Email: info@propertyinseattle.com
Web: http://www.propertyinseattle.com


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