February 18, 2019

Price per square foot on the increase for Seattle homes . . .

Seattle 7-6-15 Average price per sq. ft.

NAR report: 10 Best Markets for Millennials

These are the Buyers to drive our Seattle real estate market.  Do you qualify?

These are the Buyers to drive our Seattle real estate market. Do you qualify?

Seattle is a Sellers’ market . . .

Number of Homes For Sale vs. Sold vs. Pending:
Seattle Stats April 2014

Homeownership’s Impact on Net Worth

Courtesy of KeepingCurrentMatters.com

Courtesy of KeepingCurrentMatters.com

The Truth About NAR’s Home Sales Numbers . . . and what it means to Investors . . . report by “Keeping Current Matters”

The Truth About NAR’s Home Sales Numbers

FLOOD OF LISTINGS COMING TO THE MARKET?

Flood of Listings

NOW THAT YOUR FOCUS IS ON INCOME TAX SAVINGS . . .

I am happy to announce:  Greater Seattle is having a sale!

Purchase pricing for investment properties and the mortgages to buy them are at all-time lows.  Consider the following benefits of investment property:

*  The following are deducted from the rent collected:

  • Mortgage Interest and Points
  • Property Taxes
  • Insurance
  • Utilities
  • Repairs/improvements
  • Maintenance
  • Property Management

*  Depreciation:  Deduction of the value of the ‘improvement’ usually over 27.5 years

BEST OF ALL:  Your tenants are purchasing the property for you!

Prediction for the Seattle housing market . . .

Seattle’s healthy employment picture coupled with its consistent population growth will increase home sales in 2014 and make it the second hottest market in the county, according to Zillow, an online real estate marketplace. While Zillow economists predicted that mortgage rates will rise to 5 percent next year, they also said loans would be easier to obtain. Curiously, the national homeownership rate, tugged down by foreclosures the past five years, will hit its lowest point in two decades, Zillow predicted.

Edible backyards yielding sales for developers

Subdivisions may conjure up thoughts of strip malls, sprawl and snarled traffic. Now, think edible backyards.

Developers around the country are luring buyers with amenities centered on concepts known as “development-supported agriculture,” (DSA), “conservation communities,” or “agriburbia®”. As founders of the latter term are fond of explaining, “Home is where the farm is.”

Instead strip malls, these ag-oriented developments are appealing to buyers with promises of sustainability, self-sufficiency, and farm-to-table products. Landscapes are edible, with community gardens, orchards and livestock among the common elements in the package.

DSAs are akin to the Community Supported Agriculture (CSA) movement, but have more ambitious goals. CSAs strive to forge business relationships between consumers and farmers. DSAs focus on establishing sustainable models of land use with an urban-rural interface that preserves farming cultures, agricultural land, and community-based food security. DSAs also try to cultivate new generations of farmers through farm incubator programs.

Seattle: A market to watch . . .

Seattle ranks among top real estate “markets to watch” based on the strength of investment, development and homebuilding, according to a widely read forecast report.

The 35th edition of Emerging Trends in Real Estate reports the housing market “is no longer a drag on most local economies.”  The recovery will be strong enough to be an unexpected boost to a number of local economies, according to the report, a joint publication of PwC and the Urban Land Institute. Authors also stated:

  • A number of local housing markets have seen prices return to levels comparable to the peak from the previous cycle.
  • In most markets, activity has reached a level that is supportive of economic growth.

Researchers said survey results indicate an improved outlook for all types of residential property investment in 2014. Notably, infill and in-town housing continues to strengthen. That category is the top-ranked favorite for both investment and development.

Housing for seniors also ranked near the top, due in part to the aging population and a functional obsolescence of older independent living facilities.

Among “markets to watch,” Seattle moved up a notch from last year’s report, rising to No. 6. Of the three market components (investment, development and homebuilding) used to evaluate the markets, homebuilding posted the largest gain. Home prices are projected to increase 4.9 percent in 2014 when compared to 2013.

Researchers cited the city’s tech industry (and its above-average wages) and aerospace manufacturing as positive drivers in Seattle’s outlook. Quoting a national real estate consultant, the report said “Seattle is also becoming a core market for foreign investors.”

The study singled out Seattle’s high rate of educational attainment and global connections as factors that will keep the economy viable in 2014.