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Seattle Real Estate • July 5, 2014

Just Listed! Seattle Home for Sale :: Open Sunday 1PM-4PM

by Steve Hill and Sandra Brenner

North Beach Area Residential

9025 Cyrus Ave NW
Seattle, WA 98117
MLS 661275

ExclusivelyNorthBeach.com

t's a spring fling all year ‘round! Lush territorial views greet you from nearly every room. This home sits high above the street and enjoys privacy and an abundance of natural light throughout the day. The main level features formal living spaces with fireplace and dining room with French doors to the sunny entertainment sized patio. Informal family room off of the kitchen provides a natural gathering spot. Master suite with bath and fireplace will be a welcome retreat at the end of the day.

For a private showing of this or any Seattle area home, give us a call, text or email. We are ready to get to work for you!

-Steve and Sandra

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

 

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Seattle Real Estate • July 4, 2014

Buying a Home? Know ALL Your Options

by Steve Hill and Sandra Brenner
Recently, we have suggested that the Millennial generation’s struggles with student debt and the overarching concept of homeownership are not the reasons for so many first time buyers hesitating to move forward with the purchase of their first home. Now there is another firm suggesting the same. The asset management company, Nomura, came out with strong guidance to their investors. According to an article in Housing Wire last week:
“Nomura’s note to clients has a take few have offered: The first time homebuyers are holding out and it’s not student debt, a shift away from homeownership as a choice by Millennials, or any of that.”
Instead, they think it is a lack of a full understanding of the mortgage process. The article explains:
“Analysts say it’s not that Millennials and other potential homebuyers aren’t qualified in terms of their credit scores or in how much they have saved for their down payment. It’s that they think they’re not qualified or they think that they don’t have a big enough down payment.” (emphasis added)
This comes off the heels of a survey by Zelman & Associates that revealed that 38% of those between the ages of 25-29 years old and 42% of those between the ages of 30-34 years old believe that a minimum of 15% is required as a down payment to purchase a home. In actually, a purchaser may be able to put down far less.
The Reality of the Situation
According to Christina Boyle, Freddie Mac’s VP and Head of Single-Family Sales & Relationship Management, in a recent Executive Perspectives piece:
  • A person “can get a conforming, conventional mortgage with a down payment of as little as 5 percent (sometimes with as little as 3 percent coming out of their own pockets)”.
  • Freddie Mac's purchase of mortgages with down payments under 10 percent more than quadrupled between 2009 and 2013.
  • More than one in five borrowers who took out conforming, conventional mortgages in 2014 put down 10 percent or less.
  • Qualified borrowers can further reduce the down payment coming out of their own pockets to 3 percent by lining up gifts from family or grants or loans from non-profits or public agencies.
Ms. Boyle goes on to explain:
“Letting more consumers know how down payments are determined could bring more qualified borrowers off the sidelines. Depending on their credit history and other factors, many borrowers can expect to make a down payment of about 5 or 10 percent.”
Bottom Line
If you have considered purchasing a house or moving-up to a new dream home, know all of your options. Reach out to a real estate and/or mortgage professional in your marketplace to get the best, most up-to-date information available. You may be surprised to learn what you and your family are capable of achieving.
Give us a call, text or email and let's discuss your options!
-Steve and Sandra
Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

 

 

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Seattle Real Estate • July 4, 2014

NAR Reports Reveal Two Reasons to Sell Now

by Steve Hill and Sandra Brenner
We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now may be the best time to sell your house. Let’s look at the data covered by the latest Pending Home Sales Report and Existing Home Sales Report.
THE PENDING HOME SALES REPORT
The report announced that pending home sales (homes going into contract) “surged” by 6.1%. The increase was “the largest month-over-month gain since April 2010, when first-time home buyers rushed to sign purchase contracts before a popular tax credit program ended”. Lawrence Yun, NAR’s chief economist, expects improving home sales throughout the rest of the year: “Sales should exceed an annual pace of five million homes in some of the upcoming months behind favorable mortgage rates, more inventory and improved job creation.” Takeaway: Demand is beginning to increase dramatically compared to earlier in the year.
THE EXISTING HOME SALES REPORT
The most important data point revealed in the report was not sales but instead the inventory of homes on the market (supply). The report explained:
  • Total housing inventory climbed 2.2% to 2.28 million homes available for sale
  • That represents a 5.6-month supply at the current sales pace
  • Unsold inventory is 6.0% higher than a year ago
There were two more interesting comments made by Yun in the report:
  1. “Rising inventory bodes well for slower price growth and greater affordability, but the amount of homes for sale is still modestly below a balanced market.” In real estate, there is a guideline that often applies. When there is less than 6 months inventory available, we are in a sellers’ market and we will see appreciation. Between 6-7 months is a neutral market where prices will increase at the rate of inflation. More than 7 months inventory means we are in a buyers’ market and should expect depreciation in home values. As Yun notes, we are currently in a sellers’ market (prices still increasing) but are headed to a neutral market.
  2. "New home construction is still needed to keep prices and housing supply healthy in the long run.” As new construction begins to be built, there will be increased downward pressure on the prices of existing homes on the market.
Takeaway: Supply is about to increase significantly. The supply of existing homes is already increasing and the number of newly constructed homes is about to increase.
Bottom Line
If you are going to sell, now may be the time.
Call, text or email us today to find out how much your Seattle area home may be worth. Our job is to market your homw to receive top dollar.
-Steve and Sandra
Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

 

 

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Seattle Real Estate • July 4, 2014

Mid Century Home with Apartment :: Open Sunday 1PM-4PM

by Steve Hill and Sandra Brenner
OPEN HOUSE, July 06, Sunday 1:00 PM – 4:00 PM
11801 12TH AVE NW, SEATTLE, WA
Get Directions Click Here
Description Features Photos Maps & Local Schools
$ Click for current price
4 BEDROOMS
3 BATHROOMS (3 full)
3440 Square Feet
An umbrella of sunshine reaches over the deck and onto the alfresco living spaces. Open beam ceilings with skylights and extensive windows allow you to enjoy the lush, natural setting from nearly every room. This custom home, on a corner lot, boasts a seamless floor plan with gracious formal areas and casual spaces for day to day living and mother-in-law apartment below. The home is just moments to Carkeek Park via a neighborhood trail in a quiet and peaceful neighborhood of well-kept homes.
Steve Hill and Sandra Brenner

Broker | REALTOR®
 
Windermere Real Estate/FN
 
206-769-9577
 
stevehill@windermere.com
 
L2L Virtual Tours
 

 

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Seattle Real Estate • July 4, 2014

Fantastic Seattle Neighborhood :: Home for Sale :: Open Saturday 1PM-4PM

by Steve Hill and Sandra Brenner
OPEN HOUSE, July 05, Saturday 1:00 PM – 4:00 PM
13250 6TH AVE NW, SEATTLE, WA
Get Directions Click Here
Description Features Photos Maps & Local Schools
$ Click for current price
4 BEDROOMS
3 BATHROOMS (2 full, 1 half)
2790 Square Feet
A choreographed mix of skylights and vaulted ceilings pour light into every room of this updated Broadview home. Located on a quiet dead end street, this home boasts dramatic vaulted ceilings and spacious entertaining spaces. The large master suite features high ceilings, luxurious bath, walk-in closet and sliding door to the garden. The chefs kitchen includes eating space and convenience to the intimate deck and gracious living spaces.
Steve Hill and Sandra Brenner

Broker | REALTOR®
Windermere Real Estate/FN
206-769-9577
stevehill@windermere.com
L2L Virtual Tours

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Seattle Real Estate • July 4, 2014

Private Park-Like Setting :: Open Saturday July 5th :: 1PM-4PM

by Steve Hill and Sandra Brenner
OPEN HOUSE, July 05, Saturday 1:00 PM – 4:00 PM
11836 8TH AVE NW, SEATTLE, WA
Get Directions Click Here
Description Features Photos Maps & Local Schools
$ Click for current price
4 BEDROOMS
3 BATHROOMS (2 full, 1 half)
2784 Square Feet
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. Youll appreciate the space this home offers with a lower level 4th bedroom, a 3/4 bath and large family room.
Seattle Area Homes For Sale
 
Seattle Foreclosed Properties
 
Steve Hill and Sandra Brenner

Broker | REALTOR®
 
Windermere Real Estate/FN
 
206-769-9577
 
stevehill@windermere.com
 
L2L Virtual Tours
 

 

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Seattle Real Estate • July 3, 2014

Buying a Home: The Cost of Waiting

by Steve Hill and Sandra Brenner
Whether you are a first time buyer or a move-up buyer, you should look at the projections housing experts are making in two major areas: home prices and mortgage rates.
PRICES
Over 100 economists, real estate experts and investment & market strategists were recently surveyed. They were asked to project where home prices were headed. The average value appreciation projected over the next twelve month period was approximately 4%.
MORTGAGE INTEREST RATES
In their last Economic & Housing Market Outlook, Freddie Mac predicted that 30 year fixed mortgage rates would be 4.8% by this time next year. As of last week, the Freddie Mac rate was 4.14%.
What does this mean to you?
If you are a first time buyer currently looking at a home priced at $250,000, this is what it could cost you on a monthly basis if you wait to buy next year:
If you are considering a home purchase, give us a call, text or email. We would love to get you into the home of your dreams!
-Steve and Sandra

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

 

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Seattle Real Estate • July 2, 2014

Housing Trends

by Steve Hill and Sandra Brenner

See all local and national residential real estate trends in this handy monthly newsletter. Subscribe to this monthly newsletter and don't miss a month!

http://windermere.housingtrendsenewsletter.com/

-Steve and Sandra

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

 

http://windermere.housingtrendsenewsletter.com/

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Seattle Real Estate • July 1, 2014

Harvard: 5 Financial Reasons to Buy a Home

by Steve Hill and Sandra Brenner
Eric Belsky is Managing Director of the Joint Center of Housing Studies at Harvard University. He also currently serves on the editorial board of the Journal of Housing Research and Housing Policy Debate. Last year he released a paper on homeownership – The Dream Lives On: the Future of Homeownership in America. In his paper, Belsky reveals five financial reasons people should consider buying a home.
Here are the five reasons, each followed by an excerpt from the study:
1.) Housing is typically the one leveraged investment available. 
“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.”
2.) You're paying for housing whether you own or rent. 
“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord.”
3.) Owning is usually a form of “forced savings”.
“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”
4.) There are substantial tax benefits to owning. 
“Homeowners are able to deduct mortgage interest and property taxes from income…On top of all this, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain.”
5.) Owning is a hedge against inflation.
“Housing costs and rents have tended over most time periods to go up at or higher than the rate of inflation, making owning an attractive proposition.”
Bottom Line
We realize that homeownership makes sense for many Americans for many social and family reasons. It also makes sense financially.
Give us a call text or email. Let's get together and discuss how we can assist you in finding your perfect Seattle area home!
-Steve and Sandra

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

 

 

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Seattle Real Estate • July 1, 2014

Broadview Seattle WA Continues to be a Seller’s Market

by Steve Hill and Sandra Brenner

Broadview, one of Seattle's most desireable neighborhoods, continues to be a seller's market. With only 1.7 months of inventory, buyers need to move fast!

If you are curious about inventory in this beautiful neighborhood, give us a call, email or text. We are Broadview's most prolific real estate brokers.

Steve Hill and Sandra Brenner
206-769-9577
stevehill@windermere.com

Steve Hill and Sandra Brenner

SEATTLE-NORTHWEST
Windermere Real Estate

206-769-9577
stevehill@windermere.com

BrennerHill.com
BrennerHillReviews.com

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Seattle WA Real Estate and Homes for Sale Find Out What The Home Down The Street Sold For! Knowing what homes have sold for in your area, and how active listings are priced, is very important information when the time comes to put your home on the market.  This information will give you a good idea of what your home might sell for if you were to put it up for sale in […]
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