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Tucked away on a quiet cul-de-sac, this traditional two story is sure to please. Remodeled gourmet kitchen. Open floor plan transitions seamlessly to backyard oasis. $1,350,000 Open this weekend 1 – 4.
economy • listings • market trends •
April 24, 2018
Home Prices Hit New Records: Take Advantage Of Your Equity
The Great Recession took its toll on housing prices, with home values declining throughout the country. Since then, prices have rebounded. While many areas of the U.S. are not back to pre-crash levels, home values in Washington State have increased significantly.
Homeowners here have the second highest appreciation rate in the country.
The economists at CoreLogic recently released a special report entitled Evaluating the Housing Market Since the Great Recession. In the five-year period from 2012 to 2017, home prices in Washington have appreciated 57 percent. The national average was 37.4 percent.
The map below was created to show the 5-year appreciation from December 2012 to December 2017 by state.
Take advantage of your increased home equity.
If you’re thinking about selling your home, now is an excellent time to take advantage of your sharp increase in equity. Today’s market very strongly favors sellers, so you can expect to get the best possible price for your property. It’s also not uncommon today for the buyer to accommodate your needs as you look for another home.
bellevue • listings • real estate • somerset •
April 20, 2018
Panoramic Views in Somerset
We’re pleased to present this updated traditional home in Somerset. The home boasts unobstructed panoramic view of Lake WA, the Olympics, Seattle and Bellevue skylines. Walls of windows flood the home with natural light and maximize the view. Gorgeously landscaped yard with perennials and flowering shrubs welcome you to the front door. Level entry with full daylight basement and flat backyard, perfect for play. Updated kitchen with an abundance of storage and endless view. Award winning schools, Somerset, Tyee and Newport. Stop by this weekend and check it out. Open Saturday and Sunday 1-4.
Link to listing for more information.
community • giving back • seahawks •
April 12, 2018
Hustle to Fight Homelessness
Original posting from Plymouth Housing Group
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bellevue • economy • market trends • seattle • statistics •
April 9, 2018
Seattle / Eastside Market Report – April 2018
Despite the typical seasonal surge in new listings, supply in our area continued to fall far short of demand in March. With just two weeks of available inventory in every market, competition for homes is intense. The result was another month of double-digit price increases as compared to a year ago. The region has now led the country in home price increases for 17 months in a row. The prediction for the spring market: HOT with no signs of cooling.
Eastside
The median price of a single-family home was up 6 percent over last March to $926,000, down slightly from the record-setting price last month. Sales were brisk at every price, including the luxury market. Sales of homes priced at $2 million or more were up 23 percent in the first quarter of 2018 as compared to the previous year.
King County
A booming economy combined with insufficient inventory propelled prices to an all-time high in March. The median price of a single-family home in King County jumped 15 percent to $689,950. Multiple offers remain the norm. Buyers here need to plan on moving very quickly and working with their agent on strategies to navigate bidding wars.
Seattle
The median home price in Seattle set a new record of $819,500 in March, up a whopping 17 percent from a year ago. Homes are selling within days of being listed. Only 19 single-family homes are currently on the market in Ballard and just 24 in Queen Anne. South Seattle, traditionally the most affordable part of the city, has seen the greatest increase in prices. Home values in these neighborhoods have nearly tripled since the recession ended, while home values in the rest of the city have doubled.
Snohomish County
Once a less competitive market than King County, Snohomish County now has the lower amount of inventory of the two. The median price of a single-family home grew 12 percent over a year ago to $475,000. Prices here remain significantly lower than in King County and many buyers priced out of that market are trading a longer commute time for the opportunity of ownership.
bellevue • community • issaquah • preparing your home • somerset •
April 4, 2018
Free Shredding Events with Windermere
Spring clean your office! This is the perfect time to get rid of some of the old boxes of bills or other sensitive paperwork. Documen
ts will be professionally destroyed on site and a certificate of destruction can be provided upon request.
Saturdays from 10am to 2pm:
April 7 South Bellevue Office: 14405 SE 36th St, Bellevue, WA
April 21 Issaquah Office: 1810 15th Pl NW, Issaquah, WA
June 30 Downtown Bellevue: 11100 Main Street, Bellevue, WA
economy • real estate •
March 19, 2018
How Tax Reform Affects Homeownership
New tax legislation was signed into law at the end of 2017, and it included some significant changes for homeowners. These changes took effect in 2018 and do not influence your 2017 taxes. Here’s a brief overview of this year’s tax changes and how they may affect you.
The amount of mortgage interest you can deduct has decreased.
Under the old law, taxpayers could deduct the interest they paid on a mortgage of up to $1 million. The new law reduces the mortgage interest deduction from $1 million to $750,000.
These changes do not affect mortgages taken out before December 15, 2017.
The home equity loan deduction has been eliminated.
The prior law allowed homeowners to deduct the interest on a home equity loan if the value of the loan was $100,000 or less. The new law eliminates the deduction for interest on home equity loans.
The property tax deduction is capped at $10,000.
Previously taxpayers could deduct all the state, local and foreign real estate taxes they paid with no cap on the amount. The new law limits the deduction for all state and local taxes – including income, sales, real estate, and personal property taxes – to $10,000.
The casualty loss deduction has been repealed.
Homeowners previously could deduct unreimbursed casualty, disaster and theft losses on their property. That deduction has been repealed, with an exception for losses on property located in a federally declared disaster area.
…AND AN IMPORTANT VICTORY
The capital gains exclusion remains unchanged.
Homeowners can continue to exclude up to $500,000 for joint filers or $250,000 for single filers for capital gains when selling their primary residence as long as they have lived in the home for two of the past five years. An earlier proposal would have increased that requirement to five out of the last eight years and phase out the exclusion for high-income households, but it was struck down.
Find out more about 2018 tax reform.
How does tax reform affect your plans for buying or selling a home?
The changes in real estate related taxes may change your strategy. I’d be happy to go over your options and answer any questions you may have.
bellevue • economy • market trends • seattle • statistics •
March 15, 2018
Seattle / Eastside Market Report – March 2018
The local real estate market set new home price records in many parts of the region in February. Prices here have grown faster than anywhere else in the country for the last 16 months in a row. Demand remains high and inventory very low. Brokers are hoping the normal seasonal increase in listings this spring will help give buyers some relief.
Eastside
With home prices soaring on the Eastside, it’s not a matter of whether the median price will exceed a million dollar, but when. February brought the market very close to that milestone. The median price of a single-family home increased 14 percent to a record $950,000 on the Eastside, surpassing the previous peak recorded in December.
King County
The red-hot job market in King County continues to outpace nearly every area in the nation. Well-paid workers looking to buy close to city centers have fueled a growing competition for a shrinking number of homes. That demand boosted the median price of a single-family home up 16 percent over a year ago to $649,950.
Seattle
The median price of a single-family home in Seattle hit a new high of $777,000 in February, $20,000 more than the previous record set in January and up 14 percent from the same time last year. Despite the sharp increase in prices, multiple offers have become the norm for most properties. It remains to be seen if recent interest rate hikes will have a moderating effect on home values.
Snohomish County
After several months of moderating growth, Snohomish County set a new record for home prices in February. The median price of a single-family homes jumped 18 percent to an all-time high of $485,000. Inventory is down from a year ago, with less than a month’s supply of homes available for sale.
If you are considering buying a home in today’s market, here are three things to consider:
- Make sure you can afford the payments.
- Choose a location that will appeal to you long-term.
- Be committed to living there for a minimum of five to seven years.
Sweeping View in Somerset
This Somerset home showcases expansive views of Lake Washington, the Olympic Mountains, and the downtown skylines of Seattle and Bellevue. A wall of windows maximizes the views from the living, dining and open kitchen. Large level patio in back perfect for entertaining or play. Master suite w/built-ins and luxurious 5-piece master bath. Lower level family room also highlights the views. Award winning schools, Somerset Elementary, Tyee Middle School and Newport High. Convenient location, minutes to downtown Bellevue and Seattle. This is the place to be! 4422 138th Ave SE, Bellevue ~ $1,568,680
Full listing information here.
Modern Somerset
Mid-century modern remodeled with today’s conveniences. Open concept kitchen with high-end appliances & island. Warm woods throughout; clerestory and full-length windows for an abundance of natural light. Living room has vaulted ceilings, gas fireplace and lovely lake & mountain views. Dining opens to large deck. Master w/dual walk-in closets, 3/4 bath and door to private hot tub. Lower level media room, and guest bedroom w/den. 2 blocks to Somerset Elementary.
This home is not to be missed! Open Saturday and Sunday 1-4 pm
More property information here.
