The Seahawks and Windermere Return for Another Season to #TackleHomelessness

All of us at Windermere are very excited to kick-off our third season as the Official Real Estate Company of the Seattle Seahawks!

Once again, our #tacklehomelessness campaign is front-and-center, with the Windermere Foundation donating $100 for every Seahawks home-game defensive tackle to YouthCare, a Seattle-based non-profit organization that has been providing services and support to homeless youth for more than 40 years. During the past two seasons, the Seahawks have helped us raise $66,800 through our #tacklehomelessness campaign, and this year we are looking forward to raising even more money – and awareness – for this important cause.

Our partnership with the Seahawks and YouthCare fits perfectly with the mission of the Windermere Foundation which is to support low-income and homeless families in the communities where we have offices. Through the #tacklehomelessness campaign, we hope to be able to do even more.

A “scorecard” will be posted after each home game with an update on how much we’ve raised. You can follow our progress throughout the Seahawks season on the Windermere Facebook page at Facebook.com/WindermereRealEstate and on Instagram at https://www.instagram.com/windermere/.

This article was originally posted on the Windermere Blog.

Posted on September 19, 2018 at 2:40 pm
Marilena Sirbu | Category: Uncategorized | Tagged , , , , ,

The Gardner Report – Q2 2018

Gardner Report Q2 2018

The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions.

Economic Overview

The Washington State economy added 83,900 new jobs over the past 12 months, representing an annual growth rate of 2.5%. This is a slowdown from the last quarter, but employment growth remains well above the national rate of 1.6%. Employment gains continue to be robust in the private sector, which was up by 2.8%. The public sector (government) grew by a more modest 1.1%.

The strongest growth sectors were Retail Trade and Construction, which both rose by 4.8%. Significant growth was also seen in the Education & Health Services and Information sectors, which rose by 3.9% and 3.4%, respectively.

The State’s unemployment rate was 4.7%, down from 4.8% a year ago. Washington State will continue adding jobs for the balance of the year and I anticipate total job growth for 2018 will be around 80,000, representing a total employment growth rate of 2.4%.

Home Sales Activity

  • There were 23,209 home sales during the second quarter of 2018. This is a drop of 2.3% compared to the same period a year ago.

  • Clallam County saw sales rise the fastest relative to the same period a year ago, with an increase of 12.6%. Jefferson County also saw significant gains in sales at 11.1%.

  • The number of homes for sale last quarter was down by a nominal 0.3% when compared to the second quarter of 2017, but up by 66% when compared to the first quarter of this year. Much has been mentioned regarding the growth in listings, but it was not region-wide. King County saw a massive 31.7% increase in inventory, though all but three of the other counties covered in this report saw the number of listings drop compared to a year ago.

  • The takeaway from this data is that while some counties are seeing growth in listings — which will translate into sales down the road — the market is still out of balance.

Q2 Annual Change In Home Sales

Home Prices

  • HomePrice Change Map Q2As inventory is still fairly scarce, growth in home prices continues to trend well above the long-term average. Prices in Western Washington rose 12.2% over last year to $526,398.

  • Home prices continue to trend higher across Western Washington, but the pace of growth has started to slow. This should please would-be buyers. The spring market came late but inventory growth in the expensive King County market will give buyers more choices and likely lead to a slowing down of price growth as bidding wars continue to taper.

  • When compared to the same period a year ago, price growth was strongest in Mason County, which was up 17.4%. Eleven other counties experienced double-digit price growth.

  • Mortgage rates, which had been rising significantly since the start of the year, have levelled off over the past month. I believe rising rates are likely the reason that inventory levels are rising, as would-be sellers believe that this could be the right time to cash out. That said, the slowing in rate increases has led buyers to believe that rates will not jump soon, which gives them a little more breathing room. I do not expect to see any possible slowdown in demand until mortgage rates breach the 5% mark.

Days on Market

  • The average number of days it took to sell a home dropped by seven days compared to the same quarter of 2017.

  • King County continues to be the tightest market in Western Washington, with homes taking an average of only 13 days to sell. Every county in the region other than Clallam saw the length of time it took to sell a home drop when compared to the same period a year ago.

  • Across the entire region, it took an average of 41 days to sell a home in the second quarter of this year. This is down from 48 days in the second quarter of 2017 and down by 20 days when compared to the first quarter of 2018.

  • Although we did see some inventory increases when compared to the first quarter of the year, we are essentially at the same level of homes on the market as a year ago. The market has yet to reach equilibrium and I certainly do not expect to reach that point until sometime in 2019.

Average Days On Market, Q2 2018

Conclusions

Market Speedometer

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors. For the second quarter of 2018, I have moved the needle very slightly towards buyers, but it remains firmly a seller’s market. This shift is a function of price growth tapering very slightly, as well as the expectation that we should see more homes come on the market as we move through the balance of the year.

 

Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has more than 30 years of professional experience both in the U.S. and U.K.

 

This post originally appeared on the Windermere.com Blog.

Posted on July 26, 2018 at 9:11 am
Marilena Sirbu | Category: Uncategorized

The Gardner Report – First Quarter 2018

 

The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions.

Economic Overview

The Washington State economy added 96,900 new jobs over the past 12 months, representing an annual growth rate of 2.9%—still solidly above the national rate of 1.5%. Most of the employment gains were in the private sector, which rose by 3.4%. The public sector saw a more modest increase of 1.6%.

The strongest growth was in the Education & Health Services and Retail sectors, which added 17,300 and 16,700 jobs, respectively. The Construction sector added 10,900 new positions over the past 12 months.

Even with solid increases in jobs, the state unemployment rate held steady at 4.7%—a figure that has not moved since September of last year.

I expect the Washington State economy to continue adding jobs in 2018, but not at the same rate as last year given that we are nearing full employment. That said, we will still outperform the nation as a whole when it comes to job creation.

Home Sales Activity

  • There were 14,961 home sales during the first quarter of 2018. This is a drop of 5.4% over the same period in 2017.
  • Clallam County saw sales rise the fastest relative to the first quarter of 2017, with an increase of 16.5%. In most of the other markets, the lack of available homes for sale slowed the number of closings during this period.
  • Listing inventory in the quarter was down by 17.6% when compared to the first quarter of 2017, but pending home sales rose by 2.6% over the same period, suggesting that closings in the second quarter should be fairly robust.
  • The takeaway from this data is that the lack of supply continues to put a damper on sales. I also believe that the rise in interest rates in the final quarter of 2017 likely pulled sales forward, leading to a drop in sales in the first quarter of 2018.

Annual change in home sales

Home Prices

  • With ongoing limited inventory, it’s not surprising that the growth in home prices continues to trend well above the long-term average. Year-over-year, average prices rose 14.4% to $468,312.
  • Economic vitality in the region is leading to robust housing demand that far exceeds supply. Given the relative lack of new construction homes— something that is unlikely to change any time soon—there will continue to be pressure on the resale market. As a result, home prices will continue to rise at above-average rates in the coming year.
  • When compared to the same period a year ago, price growth was strongest in Grays Harbor County at 27.5%. Ten additional counties experienced double-digit price growth.
  • Mortgage rates continued to rise during first quarter, and are expected to increase modestly in the coming months. By the end of the year, interest rates will likely land around 4.9%, which should take some of the steam out of price growth. This is actually a good thing and should help address the challenges we face with housing affordability—especially in markets near the major job centers.

Annual change in home sale prices Q1

Days on Market

  • The average number of days it took to sell a home dropped by seven days when compared to the same quarter of 2017.
  • King County continues to be the tightest market in Western Washington, with homes taking an average of 24 days to sell. Every county in the region saw the length of time it took to sell a home either drop or remain essentially static relative to the same period a year ago.
  • In looking at the entire region, it took an average of 61 days to sell a home in the first quarter of this year. This is down from 68 days in the first quarter of 2017 but up by eleven days when compared to the fourth quarter of 2017.
  • Anyone expecting to see a rapid rise in the number of homes for sale in 2018 will likely be disappointed. New construction permit activity—a leading indicator—remains well below historic levels and this will continue to put increasing pressure on the resale home market.

Average Days On Market

Conclusions

Market SpeedometerThis speedometer reflects the state of the region’s housing market using housing inventory, price gains, home sales, interest rates, and larger economic factors. For the first quarter of 2018, I have left the needle at the same point as fourth quarter of last year. Price growth remains strong even as sales activity slowed. All things being equal, 2018 is setting itself up to be another very good year for sellers but, unfortunately, not for buyers who will still see stiff competition for the limited number of available homes for sale.

 

 

Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has more than 30 years of professional experience both in the U.S. and U.K.

This article originally appeared on the Windermere.com blog.

Posted on April 30, 2018 at 2:50 pm
Marilena Sirbu | Category: Uncategorized

Home Decor Through The Decades

 

 

As we celebrate our 45th anniversary here at Windermere, we’re feeling a bit nostalgic. The fundamentals of helping our clients buy and sell homes haven’t changed much over the past 45 years, but the way we decorate our homes sure has. Let’s take a trip down memory lane and explore interior design trends from the past four decades—the good (farmhouse sinks), the bad (macramé owls), and the ill-advised (carpeted bathrooms!).

1970s
Inspired by the hippie movement, interior design in the 1970s centered around bringing the outdoors inside. Wood paneling could be found in bedrooms and basements alike, and wood accents adorned appliances in the kitchen.

Earth tones dominated throughout the house. If your refrigerator wasn’t avocado or burnt sienna and your shag carpet wasn’t harvest gold, you were not keeping up with the times.

 

1980s
In the 1980s, we wanted to make homes as cozy as possible, which for a lot of folks meant chintz, Laura Ashley–inspired florals, and tons of pastels.

The “country” look gained huge popularity during this decade as well. Even high-rise city apartments were filled with objects that seemed more at home on a ranch in Texas, including bleached cow skulls and weathered-wood dining tables and chairs.

 

1990s
Perhaps as a reaction to the excess of the decade before, the 1990s saw a rise in Japanese-inspired minimalism. Sparsely furnished rooms with rock gardens, clean lines, and simple colors were all the rage.

On the opposite end of that spectrum was the shabby chic craze. Distressed furniture, soft colors, and oversized textiles combined to create this look.

Texturized walls were also a big hit. Wall paper and paint brushes were out, and sponges became the way to get the chicest look for your home.

 

2000s
It’s hard to believe, but we’re nearly a decade out from the early aughts. And that perspective makes it easier to spot trends that felt of-the-moment only a few years ago but are waning in popularity today. One example is Tuscan-style kitchens. It seemed every new home—especially homes on the upper end of the market—included a kitchen with stone tiles, granite countertops, hanging vines, and beige and tan tones.

Another popular item from the early 2000s that is now facing a bit of a backlash is mason jars. Once a staple of homes looking to incorporate a rustic feel, mason jars are now so common in decorating both homes and restaurants that they no longer feel special or nostalgic.

 

Today
Trends are always evolving, but if you’re looking for some cutting-edge interior design ideas for 2018, here are a couple to consider.

Embrace super saturated colors, especially warmer tones like yellow and red. These bold hues no longer need to be saved for accent pieces like pillows or lamps. Larger pieces of furniture and entire walls make a bigger splash.

Incorporate geometric patterns. There’s really no wrong way to get on board with this trend. Whether your couch features large circles, you add patterned backsplash in your kitchen, or you cover your ceiling with octagonal wallpaper, geometric shapes will help your home feel fresh.

 

This post originally appeared on the Windermere.com Blog.

Posted on April 23, 2018 at 4:56 pm
Marilena Sirbu | Category: Uncategorized | Tagged , , , , , , ,

Windermere Foundation Nears $36 Million in Total Donations Raised!

Thanks to the generosity of Windermere agents and the community, the Windermere Foundation collected over $330,000 in donations during the first quarter of 2018. Individual contributions and fundraisers accounted for 58 percent of the donations, while 42 percent came from donations through Windermere agent commissions. So far, we have raised a total of $35,869,961 in donations since 1989 when the Windermere Foundation was started.

Each Windermere office has its own Windermere Foundation fund account that they use to make donations to organizations in their local communities. In the first quarter of 2018, a total of $521,916 was disbursed to non-profit organizations dedicated to providing services to low-income and homeless families throughout the Western U.S.

One organization that has been the recipient of Windermere Foundation funds is Youthnet, serving Skagit, Whatcom, Snohomish, Island, and San Juan Counties in Washington State. Youthnet provides caring and supportive educational and social services to youth and families to help them attain a productive and successful life.

The Windermere Real Estate/Skagit Valley office in Mount Vernon, Washington has donated a total of $1,500 to Youthnet since 2015. Their support has continued to make a difference to the children, youth, and families served.

Donations have helped Youthnet support clients like Tracey and Tom, who are struggling to care for their three young children because of their inability to find and keep jobs due to mental health issues. Support from donors such as Windermere allows Tracey and Tom to receive resources, parenting support, and guidance to keep Sarah, Suzie and Jimmy well-cared-for.  Funding also helps clients like Jennifer, who is finishing high school this year and thinking about going to college. She would be the first one in her family to achieve this goal.

Generous donations to the Windermere Foundation over the years have enabled Windermere offices to continue to support local non-profits like Youthnet. If you’d like to help support programs in your community, please click on the Donate button.

To learn more about the Windermere Foundation, visit http://www.windermere.com/foundation.

This post originally appeared on the Windermere.com Blog.

Posted on April 23, 2018 at 3:05 pm
Marilena Sirbu | Category: Uncategorized | Tagged , , , , ,

Windermere Foundation by the Numbers

For the past 29 years, the Windermere Foundation has been helping those in need in our communities through donations to local organizations that provide services to low-income and homeless families. In 2017, the Windermere Foundation raised over $2.4 million in donations, bringing the total to over $35 million raised since we started this effort in 1989. The following infographic details exactly how these funds were dispersed in 2017 and the types of organizations that benefited from them. For more information please visit windermere.com/foundation.

This post originally appeared on Windermere.com.

Posted on April 5, 2018 at 5:09 pm
Marilena Sirbu | Category: Uncategorized

Creating Comfort Through Interior Design

 

content_Hygge_Header.jpg

Just because the Christmas decor is put away and the festive mood of the holidays is over doesn’t mean we have to stop creating a snug and cozy home. It’s a good time to embrace winter Hygge! If you aren’t familiar with Hygge, it’s a Danish word for feeling content and cozy.

Here are seven ways to bring Hygge style comfort to your home, even during the dreariest winter month of the year!

LAYERED LIGHTS

Even if you feel like you’re lacking in the cozy department, simply addressing your lighting will make a huge difference. Layers of lighting make every room feel more welcoming. In the daytime, natural light is ideal. But for evenings, it’s nice to add a cozy glow. A good rule of thumb is to try to have a least three light sources in every room. Use a mix of table lamps, floor lamps, task lamps, and overhead lighting. Consider using warmer lightbulbs for the coziest ambience.

COMFORTING MOMENTS

Your home will offer a sense of comfort when you incorporate some favorite photos of loved ones, treasured hand-me-downs, antiques or flea-market finds, eye-catching conversation starters, art that inspires you, special mementos, or simply things that make you smile.

AN INVITING AROMA

What aroma feels ‘cozy’ to you? Set the tone for your home by filling it up with winter scents that inspire you.

TOUCHABLE TEXTURES

The coziest homes contain a variety different textures that delight the eye. Incorporate different touch-worthy materials through pillows, drapery, throw blankets, rugs, lamps, and furniture. The fabric possibilities are endless: velvet, woven, knit, embroidered, grain sack, faux fur, tweed, etc. You can also consider creating contrast with varying materials like metal, wood, glass, rattan, mirrored, painted, and more.

A PLACE TO CURL UP

Make yourself a special cozy place to relax. A reading chair will be extra cozy with some good books nearby in a basket, a lamp, a footstool, a side table to set a cup of tea, and a soft blanket you can curl up in.

A BIT OF WARMTH

Every home can benefit from warmth. No matter what your color scheme, you can add warmth through natural tones like wood, leather, jute, warm metals, etc.

SOMETHING LIVING

A room comes to life when an organic element is incorporated into the decor. Every room can benefit from having at least one plant, bouquet of flowers, or even a sprig of greenery like eucalyptus to remind us that spring is on its way.

 

This post originally appeared on the Windermere Blog.

Posted on January 23, 2018 at 11:58 am
Marilena Sirbu | Category: Uncategorized | Tagged , , , ,