Brooks & Heinze Seattle Real Estate Team – June 2020 Newsletter

June 9, 2020

Seattle Market Update

It is a seller’s market and the local real estate market is hot. Inventory is critically low and there are not enough homes available to meet demand. Brokers added 9,871 new listings to the MLS database during May, which compares to 14,689 for the same period a year ago. Buyers are eagerly waiting for and competing for each home that comes on the market, especially in the more affordable and mid-price ranges. Multiple offers and waived inspections are common.

More than ever, our homes have become an integral part of our lives. Today they are much more than the houses we live in. They have become our workplaces, schools for our children, and safe havens that provide shelter, stability, and protection for our families through the evolving health crisis. Just a few months into the pandemic, we see buyers move further out of the city, wanting to get more space and a useable yard. Some employers have made work-from-home options available long-term and commute times no longer play as critical a role for some buyers as they used to.

Loan underwriting requirements have tightened a bit. Mortgage rates are still very low.

Shopping for a Home during Stay Home, Stay Safe

Brokers and homebuyers adjusted quickly to the restrictions imposed on the real estate industry. Open houses are not allowed and probably won’t be for several more months as social distancing is nearly impossible to achieve in that setting. Virtual open houses are the current work-around. Before Phase 1.5 in King County and Phase 2 in Snohomish and Pierce Counties, only one broker and one client were able to tour a property at a time. Now, a broker and two clients at a time can tour a property. However, there are still some limitations. Showings are allowed by appointment only and available time slots to tour a home fill up quickly. CDC guidelines for social distancing and a few other precautionary measures have to be followed.

Our Listings

$455,000 – 28514 71st Dr NW, Stanwood, WA – https://tour.vht.com/434062836/28514-71st-dr-nw-stanwood-wa-98292. Lovingly maintained home with lots of natural light throughout. Main level includes formal dining room, spacious kitchen and inviting living room with vaulted ceilings leading out to the back patio. The master wing is spacious and the en-suite bath is well appointed. Huge loft upstairs has two additional bedrooms, full bath and enormous game room / flex space. 3-car garage and extra off-street parking in driveway.

We’d love to hear from you

Any questions, comments, or feedback? Contact us any time.

Thank you,

Kerstin

Brooks & Heinze Team at Skyline Properties, Inc.

Kerstin Brooks: 206.276.5827 and Krisanne Heinze: 206.920.2541

Email: info@propertyinseattle.com Web: www.propertyinseattle.com


Brooks & Heinze Seattle Real Estate Team – March 2020 Newsletter

March 12, 2020

Seattle Market Update

Even as concern over the rapid spread of the novel coronavirus mounts, the market for Seattle-area homes remains hot. It’s too early to tell just what the impact of the novel coronavirus will be in the coming weeks, however, low inventory, low mortgage rates and excited spring buyers are keeping sales moving. Traffic through homes for sale has not slowed.

Mortgage Interest Rates

When there’s fear in the world, we see lower mortgage interest rates as investors flee stocks for the safety of U.S. bonds. The average 30-year fixed-rate mortgage hit a record 3.29 percent this week, the lowest level in its nearly 50-year history. If your current rate is over 4% and you intend to stay in your home for several more years, we recommend you take a look and see if you can save some money on your current mortgage payments or maybe shorten your term. Talk to your preferred lender or feel free to reach out to Rodney Coulombe, Senior Loan Advisor at RPM Mortgage, NMLS #70209: www.rpm-mtg.com/rcoulombe

Property Taxes Up

Did you receive your property tax statement? Counties usually mail it in the middle of February. For most of you, property taxes went up and for some of you they went up quite a bit. Ouch!

Fortunately, limited-income seniors (61 and older) with incomes below $58,423 in King County ($55,473 in Snohomish County & $45,708 in Pierce County), disabled homeowners and veterans are getting a break, with a more generous property-tax exemption taking effect this year. It is estimated that only 20% of eligible seniors, disabled homeowners and veterans are taking advantage of this tax break simply because they don’t know it exists or they don’t think they qualify.  If you would like to learn more, contact us and we’ll let you know how you can apply for a deferral or exemption.

Did you know?

Since the Empire State Building was opened during the Great Depression, much of its space initially went unrented. As a result, many New Yorkers referred to the building as the “Empty State Building.”

Our Listings/Sales

SOLD 02/27/2020 – 19514 Burke Ave N, Shoreline – $640,000.

We’d love to hear from you

Any questions, comments, or feedback? Contact us any time.

Thank you,

Kerstin

Brooks & Heinze Team at Skyline Properties, Inc.

Kerstin Brooks: 206.276.5827 & Krisanne Heinze: 206.920.2541

Email: info@propertyinseattle.com

Web: www.propertyinseattle.com

 

 


Brooks & Heinze Seattle Real Estate Team – February 2020 Newsletter

February 10, 2020

Seattle Market Update

It’s a seller’s market. We are well on our way to another market like we saw in the spring of 2017. Buyers are competing in stiff multiple offers for the chance to buy one of the few available homes for sale in our area. Paul Roberts of the Seattle Times summed it up well by saying “open houses feel more like stampedes”. Ultra-tight inventory, paired with low interest rates and a strong job market, are driving home prices up.

U.S. long-term mortgage rates fell last week for the third straight week, as the benchmark 30-year loan marked its lowest point in three years. According to Freddie Mac, the average rate for the 30-year fixed-rate mortgage declined to 3.45% from 3.51%.

Homebot

We are excited to let you know that we have invested in a new technology called Homebot. If you are one of our past clients, you will be receiving an email called the “Homebot Digest”. Homebot offers homeowners a highly personalized report containing valuable information about their home. What will Homebot track for you? Current estimated market value, appreciation since you purchased your home, net worth/equity in your home, a breakdown of principal and interest paid and much more.

Initially, your current value will be estimated based on appreciation since you purchased the property, however, If you think the value of your home is incorrect, you can challenge the value to improve the accuracy AND you can request a CMA (comparative market analysis) from us and we’ll readjust the value for you. Alas, Krisanne and Kerstin will not be replaced by robots and we are happy to offer you the same human touch and expertise as always, just let us know.

If you are not one of our past clients but would also like access to homebot, please contact us and we will gladly sign you up (no charge!). Or sign up here.

Did you know?

2020 is a leap year. The chances of being born on a leap day is about 1 in 1,461. People born on February 29 are called leaplings.

Our Listings / Sales

Congratulations to our clients, Maia and Joey, who will get to move into their new home in Shoreline at the end of the month.

We’d love to hear from you

Any questions, comments, or feedback? Contact us any time.

Thank you,

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


Brooks & Heinze Seattle Real Estate Team – January 2020 Newsletter

January 26, 2020

Seattle Market Update

2020 is starting out as a seller’s market! In December, buyers had fewer homes to choose from in King County than any time since February 2018. To some extent, seasonal factors are at play as housing markets generally contract in December but the shortage in inventory was more than just a seasonal trend. Inventory for single family homes and condos (combined) was down by more than 30% in seven counties: Thurston (-54%), Pierce (-38.9%), King (-38.8%), Snohomish (-35.6%), Mason (-32%), Kitsap (-30.6%), and Skagit (-30.5%). There is only about 1.2 months of supply (6-month supply would be a balanced market). Available homes were quickly snapped up by buyers.
What does this mean for buyers looking to buy right now? Few homes to choose from and stiff competition from other buyers, as well as bidding wars driving up home prices. Whew!
Krisanne and I are working with motivated buyers and we can hardly get to the good homes fast enough with our clients before they go under contract! There are just too many buyers chasing too few properties. What a frenzied start to the new year!

Did you know?

The most expensive home to sell in 2019 in our area was in Hunt’s Point, WA. The 9,420 square foot home sold for $37,500,000. The second biggest sale was a $30,000,000 home on the waterfront in Medina. In 3rd place, another home in Medina on the waterfront which sold for $16,050,000.

Our Listings / Sales

We don’t have any home for sale right now but we are working with a seller in Shoreline and one in Kenmore to bring their homes on the market in the coming weeks. Stay tuned.

We’d love to hear from you

Life transitions such as growing a family, empty-nesting, dissolving a relationship, or other life circumstances often necessitate a change in living arrangements, let us know if we can help you with your next move.
Any questions, comments, or feedback? Contact us any time.

Happy New Year,
Kerstin

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


Brooks & Heinze Seattle Real Estate Team – December 2019 Newsletter

December 8, 2019

Seattle Market Update
The middle of November through the middle of January usually is a good time for homebuyers to get a good deal. However, extremely low inventory in the last few weeks, has been sending prices higher, especially in more affordable and mid-price ranges. Few new listings have come on the market and inventory on the market has been snatched up. With December typically marking a low point for new listings coming on the market, it doesn’t look like there are any deals to be had or properties available for buyers this winter.
Most buyers and sellers sit out the market between Thanksgiving and the New Year. So we don’t expect to see much activity the next few weeks. But what will 2020 bring? Our best guess, if mortgage rates stay below 4% and inventory remains tight, we will see a competitive market for buyers and a lucrative market for sellers. Of course, predicting market conditions can be tricky and a myriad of factors (location, price points, demand, economy at large, employment, income, etc.) play into the equation.

Did You Know
From 1908 – 1940, Sears, Roebuck and Co. sold over 70,000 mail-order houses. They arrived as a kit and came with most modern conveniences. Some of them still exist today. Sears Catalog Homes were sold primarily through mail order. Most were sold in North America.

Happy Holidays
We wish you Happy Holidays, complete health, much joy and success in the New Year! Kerstin will be travelling to Germany to visit with family and friends and Krisanne will be vacationing with family in the Grand Canyon. We hope you will get to spend quality time with your loved ones, as well.

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

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


Brooks & Heinze Seattle Real Estate Team – November 2019 Newsletter

November 20, 2019

Seattle Market Update

Buyers don’t have much of a selection. In King County, there were 25.7% fewer homes on the market in October this year compared to last year. Snohomish and Pierce Counties saw similar dips, of 23.5% and 30.0%. In the fall, the number of homes for sale start dropping, so we expect inventory will continue to decline and we don’t expect to see a significant influx of new inventory until spring.

Nonetheless, late fall and winter can be a good time for buyers to get a good deal. It is true there are usually fewer homes on the market this time of the year and house shopping on a dark foggy and wet night might not be as fun as in the summer but there are also a lot fewer other buyers competing with you. And rates are great! The 30-year fixed mortgage rate averaged 3.78% for the week ending October 31.

In Seattle, the median price of homes sold rose 3.3% from a year ago, to $775,000 — the largest percentage increase in 12 months, according to data from the Northwest Multiple Listing Service (NWMLS).

Our Listings

No current listings available – we sold all of our inventory. 😊 There are still some great homes on the market though. We’d love to help you buy your new home.

Did you know?

Did you know, it takes about $114,535 household income to buy a $750k house? You need to speak with a home lender to find out exact details for your household and situation. The information below is not a guarantee you would qualify for a loan and provided for informational purposes only:

If you assume a 50% debt-to-income ratio (as allowed by Fannie Mae and Freddie Mac), 10% down payment, 4% interest rate, 1% property taxes, upfront mortgage insurance, $75/month homeowners insurance, $500 in car loans/leases per month, $200 in student loans per month, and $150 in monthly minimum credit card payments…here’s what you’d have to earn to buy in today’s market:

Median home price of $750,000 = minimum household income of $114,534
Tacoma median home price of $419,000 = minimum household income of $73,787
Renton median home price of $680,000 = minimum household income of $105,922
Bothell median home price of $700,000 = minimum household income of $108,385
Everett median home price of $459,000 = minimum household income of $78,712

Hint, there’s a reason the Everett and Tacoma housing markets are on fire – these areas offer home prices that are still considered affordable

Veteran’s Day! 

We wish our Veterans well. We appreciate all who have or are serving. May peace prevail.

Happy Thanksgiving!

Enjoy your time with friends and family and a Good Meal. We hope you have much to be grateful for.

We’d love to hear from you

Any questions, comments, or feedback? Contact us any time.

Thank you!

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


Brooks & Heinze Seattle Real Estate Team – October 2019 Newsletter

October 14, 2019

Seattle Market Update

In the City of Seattle, the median price of $750,000 dipped 3.2% from last year. Prices are up in the rest of King County:
– Eastside ($928,500; 4.33% up from last year)
– North King County ($630,000; 5.09% up from last year)
– Southwest King County ($436,750; 7.84% up from last year)
– Southeast King County ($468,550; 2.98% up from last year)

The median sales price for single family homes in Snohomish County was $492,500 (up from $484,995 last year); in Kitsap County it was $396,263 (up from $355,706 last year); and in Pierce County it was $384,500 (up from $352,750 from last year) (Source: Northwest Multiple Listing Service).

In brief, areas with affordable homes are seeing price increases and areas with more expensive homes are seeing price decreases or prices holding. Directly north and south of Seattle, the more modestly priced cities of Everett and Burien, where prices hover around $500,000, saw year-over-year price growth of roughly 8% and 13%, respectively. Sammamish is a standalone phenomenon where prices are way up because it is one of the few areas with highly sought after new construction inventory for the more affluent.

According to Freddie Mac, the 30-year fixed-rate average fell to its lowest level in a month, dropping to 3.57%, with an average 0.6 point. (Points are fees paid to a lender equal to 1% of the loan amount and are in addition to the interest rate.) It was 3.65% a week ago and 4.90% a year ago.

Our Listings

10717 Burke Ave N #E, Seattle, WA – $365,000 – SOLD, October 2019
Modern Northgate Townhouse – 2bed/1.5bath + garage.

4207 S. Willow St, Seattle, WA – $535,000 – SOLD, October 2019
Mid-Century Rambler in Zen Garden Setting – 3 bed/1bth.

Autumn upgrades

Want to save some money and help the environment thrive? Here are a few key tips that will improve the efficiency of your home this season. Take simple steps like caulking windows, sealing leaks around chimneys and recessed lighting, and sliding draft guards under your doors to save up to 20% on heating costs. Don’t waste money heating or cooling an empty home. Install a programmable thermostat and in colder weather schedule your home’s heat to lower when you are away or asleep and increase when you are returning home or waking-up. Have your furnace cleaned and serviced. Also, change furnace filters regularly. A poorly tuned furnace and dirty furnace filters will make your heating system work harder to keep you warm and cost you more money.

Did you know

October is Fire Awareness Month. This year, the National Fire Protection Association (NFPA) encourages everyone to make a home escape plan. This plan includes working smoke alarms on every level of the home, in every bedroom, and near all sleeping areas. It also includes two ways out of every room, usually a door and a window, with a clear path to an outside meeting place (like a tree, light pole or mailbox) that’s a safe distance from the home. Home escape plans should be practiced twice a year by all members of the household.

Thank You – Congratulations

Thank you to Marie Clare Benson for the referral!
Congratulations to Ciara and Alberto on the sale of the townhouse and congratulations to Julie and Joel on the sale of their home!

We’d love to hear from you

Any questions, comments, or feedback? Contact us any time.

Thank you,
Kerstin

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


Brooks & Heinze Seattle Real Estate Team – September 2019 Newsletter

September 11, 2019

 

Seattle Market Update

Long-term mortgage rates are at their lowest point in nearly three years. Lower mortgage rates usually help with affordability, however, in a market like Seattle where prices are still high and wage growth for the average person haven’t kept up with prices, it is doing little to make a home purchase affordable in the city.

However, areas immediately outside the central Puget Sound region and homes along the I-5 corridor continue to see house price growth. Buyers continue to be drawn to areas outside King County in search of affordability.

September is usually a good month for fresh inventory as homeowners who wish to sell their house before the winter season will look to put their home on the market. We are expecting more homes to hit the market in the next couple of weeks.

Our Listings

NEW LISTING / pending inspection / backup offers encouraged:  4207 S. Willow St, Seattle, WA – $535,000

Charming, bright and cheerful 3bd/1bth plus den mid-century rambler set in zen garden space. In-city retreat, gardener’s dream. Private, fully fenced backyard features fruit trees, vegetable & herb garden, gorgeous flowers and stunning ornamental trees. Zen garden space in front. Shops, restaurants and parks nearby. Othello LR station within walking distance. Large den/office/studio space and spacious dining off kitchen. Many system and esthetic updates, including kitchen and bath. Turnkey. Clean. Don’t miss this gem!

9911 197th Ct NE, Redmond, WA – $1,225,000 –   Exquisite Novelty Hill Home – Under Contract.

10717 Burke Ave N #E, Seattle, WA – $369,000 – Northgate Townhouse – Under Contract.

917 23rd Ave, Seattle, WA 98122 – $620,000 – Central District Charmer – Sold 09/03/2019.

 
Did you know?

More residents will be eligible for property tax reduction in 2020. King County Assessor, John Wilson, announced that low-income senior citizens, individuals with disabilities, and disabled veterans, with 2019 annual incomes below $58,423 may be eligible for property tax relief in 2020 under guidelines published by the state Department of Revenue. The previous threshold had been $40,000. Applications for the expanded programs will be available in January 2020. Contact us if you need more information on this topic and how to apply for the reduction.

 
Thank you / Congratulations

Thank you to Mary Clare for referring Katherine!

Congratulations to William and Zoe on the sale of their home!

Congratulations to Heather and Phillip on the purchase of their new home!

 

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

Thank you, Kerstin

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


Brooks & Heinze Seattle Real Estate Team – August 2019 Newsletter

August 13, 2019

Seattle Market Update

Single Family Homes: In city sales have cooled. Buyers are seeing increased selection at reduced prices. Mortgage rates are low and usually this provides a lift to sales but it doesn’t seem to be having much effect on sluggish sales in town where property values are too high for many.  The story is different outside of Seattle, especially in Snohomish and Pierce county where homes often sell quickly and buyers are competing for homes still considered affordable.

Condo Market:We are seeing falling prices and rising inventory in the Seattle condo market. The trend is fueled by sellers who find being a landlord is harder than it used to be. According to a study from the University of Washington, nearly 40% of Seattle investors who rent out condos are selling in response to city regulations such as restrictions on move-in fees, criminal background checks, and regulations on how to qualify tenants. One exception are downtown condos where the market has been picking up.

Our Listings

9911 197th Ct NE, Redmond, WA – $1,225,000–   Exquisite Novelty Hill Home  – New Listing!

4 bedrooms, 3.5 baths, 3-car garage. Enjoy a bright, open floor plan & rambler style living. 3 bedrooms on the main level with nicely updated master bathroom and Jack & Jill bathroom. Guest suite & rec room upstairs. Fully fenced, huge yard on beautiful .78 acre lot with various outdoor entertaining areas. Newer furnace & A/C, 50 year roof, 1380 SQF unfinished basement w/permit ready plans. Updated kitchen w/granite, stainless appliances, large pantry & breakfast bar. Hardwoods. 7 minutes to MSFT, amazing schools, and conveniently close to just about everything.

10717 Burke Ave N #E, Seattle, WA – $369,000– Back on Market. FANTASTIC VALUEfor Northgate!

Modern Townhouse – 2bed/1.5bath + garage. Convenient location near everything Northgate has to offer – shopping, restaurants, transit center, future light rail and easy access to freeways. Well-maintained. Bright and open floor plan, kitchen with ample cabinets and counter space, inviting dining room. Spacious main bedroom with walk-in closet and cheery second bedroom on upper level. Exterior in great condition. Zero-lot line townhouse. No homeowner dues!

917 23rd Ave, Seattle, WA 98122 – $620,000–  Pending/Under Contract. Central District Charmer.

Welcome home to this cheery, clean and updated home in one of Seattle’s most diverse, hip and lively neighborhoods. 3bd/2bth, 2-off street parking spots. Walk to nearby Central District cafes, dining & shopping. Just minutes away from downtown. Many of the systems have been updated (electric, lighting, plumbing).  Inviting, private rear deck perfect for BBQs and outdoor entertaining. Urban micro garden space.  Two large off-street parking spaces. Lots of extra storage in walkable crawlspace under the home. Turnkey!

Did you know?

Kerstin works with a Group called Boomers Plus. Many of our clients are seniors and in addition to needing help with buying and selling real estate, some of them need additional services such as Reverse Mortgages, in-home care, aging-in-place remodelers, relocation assistance to assisted living, etc. We’d be happy to help you or any seniors in transition with finding trusted and skilled professionals that specialize in these services.

We’d love to hear from you

Any questions, comments, or feedback? Contact us any time.

Thank you,

Kerstin

Brooks & Heinze Team at Skyline Properties, Inc.

Kerstin Brooks: 206.276.5827

Krisanne Heinze: 206.920.2541

Email: info@propertyinseattle.com

Web: www.propertyinseattle.com

 

Brooks & Heinze Seattle Real Estate Team – July 2019 Newsletter

Seattle Market Update

The trend from last month continues. Prices in Seattle are still dropping as inventories build and buyers continue to search outside the city limits for more affordable housing.  Last month, the median home price in Seattle fell to $781,000, a 3.9% drop from June of 2018. In King County overall, median prices dropped by 2.3% in June from the same period last year, to $695,000.

Will we soon see more MILs and ADUs

We might soon see more backyard cottages, mother-in-law suites and basement apartments. In an effort to address our city’s affordable-housing shortage, the Seattle City Council recently voted unanimously to enable the construction of more ADUs, while removing requirements that property owners live on site and provide off-street parking. These smaller units typically rent below market rate, and one in 10 provides free housing, usually to friends or family of the primary homeowner.  For more information on the recent changes click herefor an article in the Seattle Times.

Our Listings

10717 Burke Ave N #E, Seattle, WA – $399,950– BACK ON MARKET, buyer’s financing failed. Modern Northgate Townhouse – 2bed/1.5bath + garage. Convenient location near everything Northgate has to offer – shopping, restaurants, transit center, future light rail and easy access to freeways. Well-maintained. Bright and open floor plan. Kitchen with ample cabinets and counter space, inviting dining room. Spacious main bedroom with walk-in closet and cheery second bedroom on upper level. Exterior in great condition. Zero-lot line townhouse. No homeowner dues! MLS#1451735.

Buying a new house but all your funds are tied up in your current house

Some buyers choose to buy the new home contingent on the sale of their current home, meaning they will make an offer on the new home they want to purchase and ask the seller to agree that they will only go through with the purchase if they can sell their home. Sounds good, except most sellers will include a clause that they are allowed to entertain other offers and can bump you unless you remove the contingency if a better offer comes along. Buying contingent on the sale of your current home means you are not obligated to buy the new home unless you sell your current home but it does not guarantee you can stave off competition, especially in a seller’s market.

There are different solutions to this problem and the best solution depends on the current market conditions and your financial situation. However, If you have enough existing equity in your current home, you may qualify to purchase a new home non-contingent BEFORE selling your existing home with 100% financing, when financing with a cross collateralization loan. If you would like to research this option and get more information on this program, I would be happy to put you in touch with Paul Scobee at Evergreen Home Loans.

We’d love to hear from you

Any questions, comments, or feedback? Contact us any time.

Thank you,

Kerstin

 

Brooks & Heinze Team

at Skyline Properties, Inc.

Kerstin Brooks: 206.276.5827

Krisanne Heinze: 206.920.2541

Email: info@propertyinseattle.com

Web: www.propertyinseattle.com


Brooks & Heinze Seattle Real Estate Team – June 2019 Newsletter

June 11, 2019

Seattle Market Update

In urban areas prices are decreasing, in most suburbs prices are still increasing slightly, and in markets with greater affordability prices are still soaring. Follow this link to view the decrease/increase in your neighborhood.

One of those hot markets where prices are still shooting up is Tacoma, where greater affordability and high demand are the driving factors. However, condominium prices in King County continue to fall. Figures show condo prices in King County dropped about 9.6 percent and inventory surged nearly 122 percent compared to this time last year.

Mortgage Interest Rates

According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 4.35%, the lowest for 2019. Quite a change from the near 5% rates in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low.

graph rates

Our Listings

10717 Burke Ave N #E, Seattle, WA – $423,000 – BACK ON MARKET.  Buyer’s financing failed so we are back on the market. Modern Northgate Townhouse – 2bed/1.5bath + garage. Convenient location near everything Northgate has to offer – shopping, restaurants, transit center, future light rail and easy access to freeways. Well-maintained. Bright and open floor plan, kitchen with ample cabinets and counter space, inviting dining room. Spacious main bedroom with walk-in closet and cheery second bedroom on upper level. Exterior in great condition. Zero-lot line townhouse. No homeowner dues! MLS#1451735.

Did you know? 

Did you know that Seattle City Law requires vehicles be moved every 72 hours.  This can be a real pain if you only drive your car on weekends and take the bus to work on weekdays because you’ll have to move your car on Wednesday even if you don’t really need to drive anywhere. Or else, face a pricey parking ticket, as well as stiff towing and impound fees costing hundreds of dollars; and your car can be sold to cover the fees if you don’t pay up and get your car out of impound.

You might wonder why we bring this up in a newsletter about housing. More than 2,300 people (20% of the county’s homeless population) counted in 2017 lived in vehicles. King County Superior Court Judge Catherine Shaffer recently ruled that the city had violated a homeless man’s rights against excessive fines (tickets, tow and impound) under the Eighth Amendment, she also ruled the man was protected by Washington’s Homestead Act (Frontier-Era Law), which protects homes from forced sale due to certain debts. Basically, in her interpretation if a vehicle is used as a home these protections apply.

Opponents of the judge’s interpretations of the law fear this will translate into anyone being able to remain parked wherever and however long they want to as long as they claim they live in the vehicle because police will stop enforcing the 72 hour maximum parking restrictions.

For more insights on this topic, read what The Stranger and Seattle Times reported.

We’d love to hear from you

Any questions, comments, or feedback? Contact us any time.

Thank you,

Kerstin

Brooks & Heinze Team at Skyline Properties, Inc.

Kerstin Brooks: 206.276.5827

Krisanne Heinze: 206.920.2541

Email: info@propertyinseattle.com

Web: www.propertyinseattle.com


%d bloggers like this: