Seattle Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

 

July 8, 2020

5 great ways to increase your home’s value

Some factors that determine what a house is worth are out of your control, like its location and the popularity of that market. But you can keep up with repairs and make smart improvements, both proven ways to increase home value.

When thinking about how to increase home value, root your expectations in reality. Updates rarely recoup 100% of their cost, but they can make your family more comfortable and even help your home sell faster.

Whether you want to build equity faster or get top dollar when you sell, use the tips below to raise the value of your home.

Click here for more information: https://www.thestreet.com/personal-finance/5-best-ways-increase-your-homes-value-nw

Posted in Real Estate
July 7, 2020

The Home-Buying Advice Expert wants you to ignore

The Coronavirus pandemic and its ensuing protective measures have had an enormous impact on day-to-day life. Home life has, of course, been shaken up as homes turn into offices, schools, and gyms. All that change is affecting how people buy and sell our homes, too, and often in surprising ways.

Now that the world is remarkably different compared to four months ago, it can be hard to know what market insights still hold true. Amanda Pendleton, a home trends expert with Zillow, explains the real estate site has already seen some long-held selling advice turned on its head. Things you might expect (like a recession being a great time to bargain hunt) aren’t proving true at all. Here are five pieces of home-buying advice Pendleton says you can completely ignore right now.

Click here for more information: https://www.apartmenttherapy.com/home-buying-advice-to-ignore-36767042?utm_source=RSS&utm_medium=feed&utm_campaign=Category%2FChannel%3A+main

Posted in Real Estate
July 4, 2020

How to stay healthy and fit during COVID-19

There is a direct relationship between your diet, physical activity, and health. Your nutrition is a key player when it comes to physical, mental, and social well-being. And it’s important for preventing disease.

 

Lifestyle factors may also determine if you’re going to get sick or remain healthy. One of those factors is physical activity (PA). A sedentary lifestyle is usually associated with an increased risk for chronic disease, loss of movement, and decreased immune health. For those reasons, physical activity and movement are extremely important during the coronavirus pandemic. With that in mind, I will cover the benefits of PA, where your focus should be, how to think about exercising, equipment, how much you should be doing, and much more.

Find more information here: https://nutrition.org/how-to-stay-fit-and-healthy-during-coronavirus-covid-19-pandemic/

Posted in Local News
June 26, 2020

Infectious Disease Research Institute is working on a COVID-19 vaccine multiplier

Seattle’s Infectious Disease Research Institute is working with Houston’s Baylor College of Medicine to multiply the doses of a potential COVID-19 vaccine by 30 to 100 times. Other partners in the effort include Seattle-based PATH and Texas Children’s Hospital Center for Vaccine Development.

If the project proceeds as planned, Baylor and its partners could repurpose a vaccine candidate originally created to counter a different coronavirus-based disease known as severe acute respiratory syndrome, or SARS, to fight off COVID-19.

The recombinant-protein vaccine was tested against the SARS virus in preclinical trials, but because the 2002-2003 SARS epidemic faded away, the vaccine never got a chance to advance to clinical trials.

Find more information here: https://www.geekwire.com/2020/infectious-disease-research-institute-works-multiplier-effect-covid-19-vaccine/

Posted in News
June 25, 2020

Mortgage demand from homebuyers jumps 18% since 2019

Mortgage applications numbers get stronger each week as homebuyers rush back into the market, hoping to get their hands on what few homes there are for sale. Another record-low mortgage rate didn’t hurt.

Mortgage applications to purchase a home rose 5% for the week and were a stunning 18% higher than a year ago, according to the Mortgage Bankers Association’s seasonally adjusted index. As the coronavirus outbreak was surging six weeks ago, applications by homebuyers were down 35% annually.

“The pent-up demand from homebuyers returning to the market continues to support a recovery from the weekly declines observed earlier this spring,” said Joel Kan, an MBA economist. “However, there are still many households affected by the widespread job losses and current economic downturn. High unemployment and low housing supply may restrain a more meaningful rebound in purchase applications in the coming months.”

Find more information here: https://www.cnbc.com/2020/06/03/mortgage-demand-from-homebuyers-spikes-18percent.html

Posted in Finance
June 23, 2020

Mortgage rates set record low, falling below 3%

Barely a week ago it looked like mortgage rates were finally breaking higher, but in a sudden reversal, they just set a new record low.

The average rate on the popular 30-year fixed mortgage hit 2.97% Thursday, according to Mortgage News Daily, as the stock market sold off and investors rushed to the relative safety of the bond market. Mortgage rates loosely follow the yield on the 10-year U.S. Treasury. 

 

For top-tier borrowers, some lenders were quoting as low as 2.75%. Lower-tier borrowers would see higher rates.

Find more information here: https://www.cnbc.com/2020/06/11/mortgage-rates-set-new-record-low-fall-below-3percent-on-coronavirus-fears.html?&qsearchterm=mortgage

Posted in Finance
June 22, 2020

Tacoma & Pierce County homeowners will receive free list of guaranteed contractors

After spending the past few months at home, many homeowners may be thinking about home improvement projects they are ready to get started on – whether that’s adding a home office, updating family spaces, adding a fresh coat of paint, or washing windows.

With a strong focus in the area on supporting local businesses as we come out of the pandemic and resulting economic downturn, finding a trusted vendor in home services and improvement can be tricky.

However, residents will soon have a tool in their hands that not only recommends contractors, it guarantees their service with a warranty up to $2,500. Best Pick Reports will arrive in Tacoma-Pierce County mailboxes starting June 11.

Find more information here: https://thesubtimes.com/2020/06/12/tacoma-pierce-county-homeowners-to-receive-new-free-listing-of-guaranteed-home-contractors/

Posted in Real Estate
June 21, 2020

3 ways real estate will emerge stronger from the pandemic

Even in the best of times, buying or selling a home can be challenging. That’s particularly true in the wake of COVID-19’s impact on the economy and how we live our daily lives. As homebuyers and sellers grapple with their new reality, technology can help reduce or even eliminate the friction that traditional transactions have faced for decades.

These changes may have seemed quick in response to COVID-19. For many agents, they’ll prove to be a competitive edge for months and years to come.

The industry felt an immediate shift with showings transitioning into fully digital experiences. The goal was no longer just to sell the home – in our new world, keeping clients safe is the absolute top priority.

Find more information here: https://www.inman.com/2020/06/01/3-ways-real-estate-will-emerge-from-the-pandemic-stronger-than-before/

Posted in Real Estate
June 19, 2020

How the pandemic has changed residential buyer’s preferences

Not long ago, we felt that the tremor of society’s heartbeat would remain forever slow. Yet businesses around the country have started to reopen, and humans have started their adaptation process into the new normal. Hope has begun to rise.

In this new normal, our thought process when selecting a new home has dramatically shifted. We’re consciously becoming more conscious, and we find ourselves admiring things we never had before — like having extra space at home. We have been resensitized, and it’s starting to reflect on the decisions made by people buying homes. What are the new preferences that residential real estate buyers have when selecting new spaces to live?

Find more information here: https://www.forbes.com/sites/forbesrealestatecouncil/2020/06/02/how-the-pandemic-is-changing-residential-buyers-preferences/#3d152cb36d6b

Posted in News
June 18, 2020

How to reopen the housing market safely

Selling homes was deemed an essential service in some places and as of late May, physical home tours are now allowed in all 50 states. Sellers should limit tours and require buyers to wear protective coverings; buyers should ask key questions about ventilation and take advantage of virtual tours.

Sellers can reduce the number of people coming into their homes by limiting tours to financially qualified buyers with mortgage pre-qualification letters in hand, the National Association of Realtors recommends. (However, take care to not run afoul of fair housing laws, which are meant to prevent discrimination.)

Require masks and provide shoe coverings. Turn on all the lights and open doors to limit touching surfaces.

Provide online resources such as floor plans, virtual tours and lots of photos. Technology company Matterport recently released an iPhone app to make your own 3D tours.

Find more information here: https://www.forbes.com/sites/samanthasharf/2020/06/08/how-to-reopen-the-housing-market/#51ce4d9e9d67

Posted in News