Uncategorized June Charts and Graphs Here is the June report covering Price/Volume/Rates. It seems too easy to point to the intersection of low prices and low rates and see opportunity (sure, there is still risk in the global economy). But, that risk seems to be keeping interest rates down, so for those who are borrowing money, perhaps the risk is […]
Uncategorized 670 New Condo Units in Belltown?! Well, there goes the “there are no new condos coming out of the ground” argument. It looks like we can expect 335 new units by the end of 2014, with 335 more to follow if the developer feels that demand will support the supply. This underscores one of the challenges with assuming supply/demand-based appreciation in […]
Uncategorized New Construction 2006 v 2011 Easily digestible look at new construction, nationwide, comparing 2006 and 2011; price and financing. I was surprised that home size actually increased on average, as we often talk about a return to smaller, more efficiently designed (and affordable) spaces. http://www.kcmblog.com/2012/06/06/comparison-of-new-single-family-homes-2011-vs-2006/
Uncategorized Shopping based on your monthly payments or total cost? I have had a few people ask for this cost v. price study lately, so thought I’d share it again here: http://www.kcmblog.com/2012/03/19/buying-a-home-the-cost-is-more-important-than-the-price/ Perhaps even more relevant to Seattleites when coupled with this, from the Daily Journal of Commerce: KIRKLAND — Limited inventory and falling mortgage rates are driving up the price of houses near job […]
Uncategorized Emotional drivers for residential real estate Interesting post re: emotional drivers in residential home sales http://www.kcmblog.com/2012/06/04/the-emotion-driving-the-housing-recovery/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+KeepingCurrentMatters+%28The+KCM+Blog%29
Uncategorized Cap Rate v. Appreciation Play? Anyone in my world of commerical building sales have any comments on this: “Storrar declined to provide the cap rate. ‘It wasn’t sold on that basis,'” from a Daily Journal of Commerce article on $49M in office building sales just west of I5 near Amazon. Is that another way to say: “It doesn’t make sense […]
Uncategorized Foreclosure Inventory Map Interesting look at foreclosure inventory, particularly because it is human nature to to think “it is bad here” and forget that it might be worse elsewhere. http://www.kcmblog.com/2012/06/01/foreclosure-inventory-highest-lowest-states/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+KeepingCurrentMatters+%28The+KCM+Blog%29
Uncategorized Big Magnolia Land Buy http://www.djc.com/news/re/12041530.html Here’s an interesting one. Note the $400K per lot price, paid by a developer (they are accustomed to paying what most single family home buyers would consider “wholesale” for land).
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Uncategorized Two interesting morning conversations; mashed up (re: Buyer and Seller behavior): Me: “Buyers are hungry for new inventory, but most aren’t interested in considering homes that have been listed longer than a few weeks, or in making lower offers on those with inflated list prices.” Another agent: “It used to be that Sellers were curious about what I was going to do, now they simply want […]
Uncategorized Interesting “all-in-one” graphic… ….including data points for nation-wide supply/demand/shadow inventory/rates. http://www.kcmblog.com/2012/05/25/another-positive-report/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+KeepingCurrentMatters+%28The+KCM+Blog%29  
Uncategorized An Appraiser Speaks… I had the pleasure yesterday to hear local appraiser Alan Pope speak. Alan makes the time to take the data he sees in his appraisal work to extrapolate trends (and opinions) on the market in general. His absorption rate graph http://www.alanpope.com/Apr12/king2002-2012combined.pdf shows that supply is being absorbed by demand at a rate we’ve not seen […]
Uncategorized Just applied for a purchase money or refinance loan? Freeze! Good reminders here on how to stay on track for closing. http://www.kcmblog.com/2012/04/12/6-donts-after-you-apply-for-a-mortgage/
Uncategorized Where’s the market headed? Interesting – and short – question then answer posed by KCM blog: http://www.kcmblog.com/2012/05/22/where-are-house-prices-actually-headed/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+KeepingCurrentMatters+%28The+KCM+Blog%29
Uncategorized Local Seattle press acknowledges shrinking downtown condo inventory http://seattletimes.nwsource.com/html/businesstechnology/2018251763_condos21.html The “news” isn’t all that much a surprise. The balanced nature of the article – reduced supply, increased demand, but acknowledging “shadow inventory” – is refreshing.
Uncategorized May charts and graphs May charts and graphs. I don’t write the commentary, but…they seem like reasonable conclusions. Enjoy.
Uncategorized When an agent lists their property… With so much information to post on the improving real estate market, I thought I’d ignore all that and focus today on a few observations from the recently attempted sale of my own condo. -I wanted to give it the very best shot, so had my agent list it vacant and staged (thought it best […]
Uncategorized Nordstrom and Custom Service Interesting recent designation for Nordstrom. The survey was for wealthy consumers, but…as near as I can tell, the Nordstrom “experience” is applied consistently for all customers. http://www.bizjournals.com/seattle/morning_call/2012/05/wealthy-shoppers-rank-nordstrom-no-1.html
Uncategorized Spring Cleaning Do you have any unwanted electronics that you want to recycle/dispose of responsibly? Are you being crowded by reams of confidential paperwork that needs to be properly shredded/recycled? On Saturday, June 2nd, from 9am -12pm in the parking lot at 1900 Block of N. 34th Street, Windermere Lakeview will have TWO trucks on site to […]
Uncategorized What does Amazon mean to Seattle (and housing costs)? There are many opinions bantered about on the impact of Amazon in Seattle. It often comes up in the context of the developer community justifying the price of new construction condos, or the thousands of close-in new apartment units under construction. Residential neighborhoods, from Queen Anne to Cap Hill to Ballard, are also abuzz with […]
Uncategorized Congratulations to Todd and Julie Congratulations to Todd and Julie on a job extremely well done. Here’s what happened: -They had the home pre-inspected -They vacated the home and had it staged -They used a video tour to explain their experience to prospective Buyers. -They priced appropriately, and…   -They got seven offers after a 5 day waiting period -The […]