Newsletter

Seattle’s Real Estate Market Remains Resilient Despite COVID-19

The Seattle area housing market in May continued to show resiliency amid the novel coronavirus outbreak, with increases compared to the previous month in new listings and pending sales.

report from Northwest Multiple Listing Service — which covers 23 counties in the region — showed King County had 3,585 new listings during May, compared with 2,707 new listings that came on the market during April. The total number of active listings in King County also went up slightly month over month, from 3,255 in April to 3,467 in May.

“The market has proved to be very resilient,” Northwest Multiple Listing Service Director Mike Larson said in a news release.

Continue reading

Mortgage Rates Dipping Below 3%

More gloomy talk from Federal Reserve Chairman Jerome Powell has been greeted by another historic drop in mortgage rates, which have returned to an all-time low under 3% in a daily survey.

In two days of testimony to Congress this week — including an appearance on Tuesday in which he wore a mask and had a pump-bottle of hand sanitizer nearby — the leader of America’s central bank said the economy faces an “extraordinarily uncertain” recovery from the coronavirus pandemic.

Infections have been rising rapidly, and many states have halted their reopening plans.

Continue reading

Would you please help us continue our long-time commitment to the Summer Lunch Program at the Issaquah Food & Clothing Bankdespite the inability to hold our annual fireworks show?

With over 37,700 people in King County filing initial unemployment claims the first week in May, it’s more important than ever to ensure that children in our community are getting the nutrition they need. A nationwide April 2020 COVID Impact Survey showed that one in five households with children 12 and under have children who are currently experiencing food insecurity.

We have thoroughly enjoyed our annual Lake Sammamish Fireworks show to raise funds for children facing food insecurity in our community. Unfortunately, we will not be able to hold our 2020 fireworks display due to safety restrictions. We hope that you will find alternate ways to make your 4th of July celebration special this year and plan to join us for a huge celebration in July of 2021!

Would you please help us continue our long-time commitment to the Summer Lunch Program at the Issaquah Food & Clothing Bankdespite the inability to hold our annual fireworks show? A $100 gift can provide a child with breakfast, lunch and snack foods for an entire month this summer. Please consider giving a gift online:

click here to donate

The Numbers Are In and it is a Seller’s Market!

1. Seattle area’s inventory is lower today than it was a year ago.

2. We’re thin on listings, leading to extremely low supply (less than last year)

3. Inventory is down over 40% and sales are equal to a year ago

4. Weekly pending sales, as a percentage of last year, held steady at 85%

5. Though pending sales held steady as a % of last year, they rose 4% compared to last week

6. Pending sales in the $2m+ price range continued an upward trend

7. Pending Sales shot up to 1,035 from just 673 in May

8. New Listings shot up to 1,376 from just 971 in May

9. 9% more listings went pending in the first 30 days than last month

10. There are 709 less homes for sale than last year in June

What to expect? More new listings. More new sales. We anticipate July sales exceeding sales from July of 2019.

What does that mean? We are still in a seller’s market. If you are considering selling, now is a perfect time to get the ball rolling. Contact me and we can talk about your options and the best path forward for either purchasing or selling a home.

Windermere Bridge Loan Program

Introducing the Windermere Bridge Loan Program through Vintage Loans LLC.

You can buy before you sell with the Windermere Bridge Loan, from Vintage Loans, LLC. This is an exclusive tool that I can use to help you buy real estate when you find it.

You can make a non-contingent offer, which makes your offer more attractive to sellers, and you don’t have to risk losing your new home while waiting for your own property to sell.

The amount you owe on your home, plus the bridge loan, cannot be more than 65 percent of the value of your current home. The approval process by Vintage Loans, LLC takes only a few days.

The loan fee is just one percent of the loan amount, due upon disbursement of the loan. No payments are necessary on the loan before your home closes unless you choose to make a payment. The principal and interest are due when the home closes, or six months following disbursement, whichever comes first.

The Windermere Bridge Loan. It’s fast. It’s easy. And it’s at my fingertips, ready to help you get into your new home.