Many people suffered through the housing crisis. We realize that most of the heartache was the result of a housing and mortgage market gone wild. Many consumers were swept away by the waters of a frenzied real estate market that resulted in a crisis even the experts didn’t see coming.

Instead, you bought a home your family could enjoy – and afford! You waited for interest rates to drop to historic lows and then refinanced your mortgage; not for the sake of taking cash out but instead to lower your monthly payment. You have equity in your house and a nice, low mortgage payment. You played the housing market perfectly.
 

Yet, there is one more move many should consider. With interest rates still at historic lows, and prices projected to increase by almost 20% over the next four and a half years, this may be time to buy a new home.

You have been fiscally astute enough to navigate the treacherous waters of a housing market that sank many a homeowner. Now, that the seas have settled, don’t think there aren’t even greater opportunities on the horizon.

You're ready, so give us a call, text or email. Let us help you make the next move.

-Steve and Sandra



Steve Hill and Sandra Brenner

SEATTLE-NORTHWEST

Windermere Real Estate

11836 8th Ave NW Seattle, WA 98177

MLS 639756

$609,000

Privacy in a park-like setting is just the beginning of what this well-maintained classic brick home has to offer.

The gracious living room with large picture windows is perfect for entertaining year-round. When the sun comes out, move the party outside to the large west-facing deck. This home features a desirable layout with 3 bedrooms and 2 bathrooms on the main level. You’ll appreciate the space this home offers with a lower level 4th bedroom, a 3/4 bath and large family room.

More information HERE

For more information or a private showing of this home, give us a call, text or email.

-Steve and Sandra



Steve Hill and Sandra Brenner

SEATTLE-NORTHWEST

Windermere Real Estate

http://brennerhill.withwre.com/listing/WA/Seattle/11836-8th-Ave-NW-98177/25044215

The median price of single-family homes sold in Seattle rose last month to $543,500, blowing away the last peak of $501,000 set in August 2007 — before the housing bubble burst and the country went into the Great Recession. The Eastside isn’t far from its previous peak.By Coral Garnick and Sanjay Bhatt

Seattle Times business reporters

The median price of single-family homes sold in Seattle rose last month to $543,500, blowing away the last peak of $501,000 set in August 2007 — before the housing bubble burst and the country went into the Great Recession.

It’s too soon to say whether the Seattle market can sustain that level; in June the median price of homes sold was $499,000. Nationally, in July existing homes in the top 20 markets were 18 percent short of their summer 2006 peak, as measured by the S&P Case-Shiller index.

“The Seattle marketplace is a very special place in the nation because of our robust job sector,” said J. Lennox Scott, CEO of John L. Scott Real Estate. “We are just in one of those places in the nation where this recovery took place, and all the fundamentals are in place for it to continue.”

Interest rates and jobs are the key indicators to a strong housing market, Scott said — and interest rates are still low by historical standards, while in June the state’s unemployment rate dropped to 5.8 percent, a level not seen since September 2008.

On the Eastside, the median price of single-family homes sold in July was $624,900, just 2.6 percent off its peak of $640,975 set in May 2007.

Eastside price gains have been less steady than Seattle’s this summer: July’s median price was down slightly from June’s median of $630,000.

For King County, the median price of single-family homes sold has been steadily increasing since February. Last month, the countywide median rose to $468,000, a 7.8 percent increase over the year, the Northwest Multiple Listing Service (MLS) reported Wednesday.

That’s only 2.8 percent off the peak of $481,000 set in July 2007.

In Snohomish County, the median price of single-family homes sold in July was $335,000, a 10.2 percent increase over the year.

Full historical data was not immediately available, but the median price for single-family homes in the county so far this year is $324,970, about 12 percent below the last full-year peak of $371,000 in 2007.

The number of homes listed for sale in King County continued to increase in July, slightly reducing the frenzy of homebuying that has led to bidding wars all spring and summer.

But brokers say the listings tend to be in less sought-after areas and won’t make much of an impact on price.

“We just don’t have enough of the right inventory in the right neighborhoods to satisfy the demand,” Mike Gain, CEO and president of Berkshire Hathaway HomeServices Northwest Real Estate, said in a statement.

“The lack of supply leads to multiple offers, and many properties selling for above their list prices.”

Inventory in King County was under two months in July, with the hottest markets — Ballard, Green Lake and North Seattle — having only a one-month supply.

A balanced market generally has enough supply for four to six months, meaning four to six homes are listed for sale for every one sold in a month.

In King County, there were 4,862 single-family homes listed in June, 6.1 percent more than a year earlier.

However, pending sales in July were 3.6 percent lower than last year, at 2,901. The number of homes sold stayed almost flat at 2,666.

First-timer

After months of searching and multiple offers, Kevin Wilson, a first-time homebuyer who had hoped to land in Kirkland, was forced to expand his search south.

With a low credit score and limited loan options, he found a town house in Renton for $124,600, and closed last month.

“I wanted to stay on the Eastside … but it is what it is, I’ll have to wait five or 10 years,” he said. “The place that I got, there were three other offers, and I put in my bid on the first day — with an escalation clause.”

Wilson also looked at condos on the Eastside, but said they were snatched up fast and usually out of his price range.

The median price for condos in King County last month was $250,000, with the Eastside higher at $263,000, and Seattle even higher at $287,225.

As home prices around Puget Sound continue to increase, brokers are hopeful that new construction will increase inventory and ease the shortages.

“Developer and builder confidence in the Seattle market has been steady, with real-estate developers shifting away from building apartments and moving to condos,” John Deely, principal managing broker at Coldwell Banker Bain in Seattle, said in a statement.

He added that new groundbreakings announced in July will add to the 500 units under construction in the area.

The generally tight inventory of houses has influenced prices across the county.

Southwest King County had the lowest median price at $270,000, up from $248,500 the same time last year.

The median price of homes sold in North King County was $400,000 up from $382,000 last year.

Meanwhile, in Kitsap County the median price rose 6.5 percent to $255,050. Pierce County’s median price increased 3.7 percent to $234,700.

Coral Garnick: 206-464-2422 or cgarnick@seattletimes.com. On Twitter @coralgarnick

Do you have questions about our areas real estate market? Give us a call, text or email. We would be happy to answer any questions you may have.

-Steve and Sandra



Steve Hill and Sandra Brenner

SEATTLE-NORTHWEST

Windermere Real Estate

Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.

• Home values will appreciate by 4.6% in 2014.
• The cumulative appreciation will be 19.5% by 2018.
• That means the average annual appreciation will be 3.6% over the next 5 years.
• Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 11.2% by 2018.

-Steve and Sandra

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

206-769-9577
stevehill@windermere.com

 

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Your Instant Home Value

When a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles. However, for the vast majority of sellers, the most important result is to actually get the home sold.

If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process.

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate