2022 has had an incredibly eventful start in our local real estate market. In January, the average list-to-sale price ratio (the percentage a house sells for in comparison to the list price) in King County was 105% and in Snohomish County it was 106%. This is in conjunction with complete year-over-year median price appreciation (the last 12 months of price growth averaged and compared to the previous 12 months of price growth) of 15% in King County and 23% in Snohomish County. In fact, 59% of homeowners in King County have more than 50% home equity and 55% of homeowners in Snohomish County have over 50% home equity.

With that said, how does one navigate successfully transitioning that equity to their next move, and who do they choose to help them with the job? With inventory at an all-time low and interest rates still hovering around 4%, buyer demand is high. There is no denying that homes sell quickly in this environment and oftentimes for over list price due to multiple offers. There are many different business models available to consumers when selecting who they align with to help them make this very important move. There are brokerages that will offer an up-front rebate on the commission and there are full-service brokerages, with a lot in between.

Before I highlight what a full-service brokerage, like Windermere North, has to offer a seller I want to show you some numbers rooted in seller results. In 2021, my office, Windermere North, outperformed the market – we sold homes faster and at a higher return!

Even as we track our statistics so far in 2022, according to NWMLS data, my office’s average list-to-sale price ratio for King and Snohomish Counties combined, including both residential and condo sales, was 114% and 4 days on the market. This compares to the average market results of 105% and 19 days on the market.

Our approach involves a strategic home preparation process, detailed price analysis, and keen negotiations. You might ask what type of negotiations happen when a seller is reviewing a stack of offers; actually, more than you know. Sifting through the terms of offers and vetting the buyers through rapport-building with their broker and lender helps us unearth who the most qualified buyer is to get into contract with. This takes extra time and skilled communication, but as you can see, these extra steps pay off for our sellers.

We also understand that getting a home ready for market can be a daunting task, but the upside is too measurable to ignore. We help our clients identify a punch-list of prep items and match them up with concierge-level service providers to help complete the work. Even if our sellers are limited in funds to prep their home, we have funds available for no up-front costs. Please reach out if you think this would be helpful.

Then the merchandising comes in (depending on the house): staging, professional photography, video, floorplans, print materials, and public exposure is planned and executed. Our listings hit the market perfectly positioned for buyers to see themselves living there and we invest in this on behalf of our sellers. We help connect the emotional dots that invoke buyers’ lifestyle goals resulting in high returns for our sellers.

Lastly, perspective is key! Markets shift, ebbing and flowing. Pricing a home is strategic and requires analysis of the recent sales, historical seasonality, and current market trends. This research is done sifting through data, but also with intangible outreach to fellow brokers inquiring about their experiences and gleaning conclusions. Also, physically touring the inventory, whether I’m showing buyers or walking through to see for myself, helps me understand how a home measures up and what buyers are looking for. All of these steps are over-and-above the norm and help contribute to the results my office is producing.

If you are considering a move, make sure you align yourself with a trusted advisor who is willing to put in the extra work to get you the best possible results. Navigating an extreme sellers’ market takes great skill and care to garner the best results. If done right, that skill and care will beat out any upfront discount a less-engaged broker will offer to win a listing. Make sure you consider the big picture, not just an immediate reward. Understand that who you choose to partner with to assist you with one of the biggest financial decisions a person ever makes is a very big deal. It is always my goal to help keep my clients well-informed and empower strong decisions. Please reach out if you think I can help you or someone you know, whether you are just curious about the market or you’re ready to make a move.

Cheers to 50 Years!
Fifty years of relationships, 50 years of giving back to our communities, and 50 years of growth. In 1972, Windermere Real Estate was founded by John Jacobi in the Sand Point neighborhood of Seattle, WA. Since then, Windermere has expanded to 10 states including Washington, Idaho, Oregon, Montana, California, Arizona, Nevada, Utah, Hawaii, and Colorado. Our network reaches over 300+ offices and 7,000+ brokers.  I can tap into our network of offices in the states above and I can also access Leading Real Estate Companies of the World beyond our Windermere network to help you find a like-minded broker for your out-of-area needs.

Even better, Windermere has donated just over $46 Million through the Windermere Foundation, giving funds back to the communities in which we serve. Windermere’s collective goal in 2022, is to get the Windermere Foundation to the $50 Million mark to help commemorate this monumental anniversary. Here’s to another impactful 50 years serving our communities through relationships, homeownership, and community outreach.

Video URL: https://youtu.be/marydsBTVAs

How a home is prepared for the market has a direct economic effect on the results a seller will have in the marketplace. Making home updates to match today’s trends, repairing deferred maintenance items, deep cleaning, and home staging all help contribute to a higher return for home sellers and less time on the market. According to the National Association of Realtors, 82% of home buyers said that staging and proper home preparation helped them better visualize a property as their future home. Even in the brisk seller’s market we are currently experiencing, it has paid off for sellers to get their properties ready for market in order to reap the highest return in the quickest amount of time. This is why Windermere has partnered with Move Forward Financial and developed the Windermere Ready Loan.

The Windermere Ready Loan allows our home sellers to receive access to funds to make home improvements and merchandise their homes for the market with no upfront cost. Clients can borrow up to $50,000 as long as the Windermere Ready Loan and any other encumbrances on the property do not exceed 75% of the market value. With the majority of Puget Sound cities having experienced 15-25% in price appreciation over the last year or two, this loan-to-value ratio is very manageable.

Even better, this program does not require a costly appraisal, but just an approved Comparative Market Analysis (CMA) from their Windermere broker and their office manager. Once that is done, approval can happen as fast as 2 business days and the loan can fund in 10 business days. In comparison to a cash-out refinance or home equity line of credit which both can take up to 60 days, the turnaround time is minimal.

The loan fee is 4% (based on the loan amount) and is due only once the subject property closes and requires no interest payments. There is a nominal $20 credit reporting fee and a $20 administrative fee collected at closing as well. Loans must fund within 60 days of approval and are due within 6 months of funding.

Clients do not need to present bids, only a predetermined amount they want to borrow that does not eclipse the 75% loan-to-value amount. Clients can also choose their own contractors. I also have a list of preferred contractors that I can access to help concierge the home-preparation experience for my clients.

I understand that getting a home ready to sell is not always an easy feat, but one worth the effort to get the most optimal outcome. If you are interested in learning more about this program, please reach out. I am happy to answer more questions, assist you in the process and help you get your home Windermere Ready in 2022!

Please join me for a very special virtual live event:

AN ECONOMIC FORECAST FOR 2022 & BEYOND
with Matthew Gardner, Chief Economist for Windermere Real Estate

Wednesday, January 19, 2022
6:30pm – 8pm

Presentation from 6:30-7:30pm, Q&A to follow

Please RSVP by phone/text or email by January 14th, 2022
to receive an emailed event link prior to the event.

This holiday season, I invite you to join me in this tangible way of showing gratitude and support to our healthcare workers, who have worked so long and hard under the most difficult circumstances.

In tandem with The Windermere Foundation and local non-profit We Got This Seattle, my office is collecting donations that will be used to purchase meals from local restaurants. We will be personally delivering these meals over three weeks to a coordinated point person at Providence Hospital in Everett, Swedish Edmonds, and UW Medical Center-Northwest. Meals and treats will be distributed to frontline workers such as nurses, doctors, respiratory therapists, and cleaning staff.

We are still collecting donations for UW Medical Center – Northwest. You can donate here through December 27th.

Results so far:

• $1,345 donated for meals to Providence Everett, we delivered 150 meals on December 16th!!!
• $2,105 donated for meals to Swedish Edmonds!! We will deliver meals right around the Christmas holiday.

Thank you for your generous gifts in support of our community.

Happy Holidays!

At Windermere, we have the benefit of being expertly guided by our Chief Economist, Matthew Gardner. Every year he shares his predictions for the US Economy and Housing Market. I have included a list of highlights below along with a link to a video where he spells it all out.

Matthew’s Forecast for the US Economy:

• The US will still continue to feel the effects of the COVID-19 pandemic on the economy. He acknowledges that we are healing, but still experiencing drag due to supply chain delays and Covid-sensitive consumers. He expects this to improve as we head into spring and the second half of 2022.
• He predicts a 4% increase in GDP in 2022.
• Even though we are still experiencing supply chain delays and labor shortages he does not anticipate a recession.
• He predicts more robust job growth in 2022 and returning to pre-Covid employment in the second half of 2022.
• Inflation is still very much affected by supply chain issues and labor shortages, but he sees that settling out mid-2022.
• Interest rates will help to counteract inflation and will start to increase in 2022, but not crest 4%.

Matthew’s Forecast for the US Housing Market:

• There will be a modest reduction in home sales year-over-year, but realize this is coming off of a high volume of sales in 2021.
• After a record-breaking 16% increase in median price in 2021, he predicts a 7% increase in median price year-over-year in 2022. This slow down in appreciation will be due to increased interest rates, affordability, and a slight increase in supply.
• Housing starts will increase, but more importantly, construction completion will increase due to supply chain issues and labor shortages improving.
• Interest rates will increase towards 4% as we travel through 2022, but will still be well below the 30 year average of 7.5%.
• There will not be a housing bubble due to high demand for housing, job growth improving, and the overall recovery of the US economy.
• He is not concerned about forbearance, but more so affordability for the aging millennial generation who would like to purchase their first home.
• He sees the housing market moving towards more balance in 2022 after an incredible year of growth in 2021.

Look for Matthew’s local economy and housing market predictions from me in January.  My office is also hosting a virtual Economic Forecast event with Matthew on January 19th.  Stay tuned for more information.

Overall, this is a positive outlook weighted with some real challenges that we still face as we recover from the global pandemic. It is always my goal to help keep my clients well-informed and empower strong decisions. Please reach out if you are curious about how the housing market relates to your goals or if you’d like to attend the virtual economic forecast event with Matthew in January.

Thank you to everyone who donated to our Thanksgiving food drive! Because of your generosity, we were able to give The Volunteers of America Food Banks a check for $3,075 and 2,169 pounds of food! That will provide a total of 3,498 meals for our community.

Food insecurity is one of the most prevalent social issues of our time. VOA food banks, food pantries, and distribution center all exist to tackle hunger in our community and also serve as touchpoints to connect our neighbors with other basic needs.

Thank you!

This holiday season, I invite you to join me in this tangible way of showing gratitude and support to our healthcare workers, who have worked so long and hard under the most difficult circumstances.

In tandem with The Windermere Foundation and local non-profit We Got This Seattle, my office is collecting donations that will be used to purchase meals from local restaurants. We will be personally delivering these meals over three weeks to a coordinated point person at Providence Hospital in Everett, Swedish Edmonds, and UW Medical Center-Northwest. Meals and treats will be distributed to frontline workers such as nurses, doctors, respiratory therapists, and cleaning staff.

All funds collected through:
12/6-13 will provide meals to Providence Everett
12/14-20 will provide meals to Swedish Edmonds
12/21-27 will provide meals to UW Medical Center – Northwest

>> Click here to donate!

Thank you for your generous gifts in support of our community.

Happy Holidays!