Windermere’s 4th Year of Partnering with the Seahawks

 

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

Once again, our #tacklehomelessnesscampaign is front-and-center, with the Windermere Foundation donating $100 for every Seahawks home-game defensive tackle to Mary’s Place, a Seattle-based non-profit organization that provides safe, inclusive shelter and services supporting women, children, and families on their journey out of homelessness. We are looking forward to raising even more money – and awareness – for this important cause.

Our partnership with the Seahawks and Mary’s Place 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 #tacklehomelessnesscampaign, we hope to be able to do even more.

Check out the Seahawks schedule here, the preseason is just a couple of weeks away!

Posted on July 26, 2019 at 8:15 pm
Jill Langer | Category: Community, Monthly Newsletters, Windermere Foundation

Windermere Foundation Update

 

We’re halfway through the Windermere Foundation’s 30-year anniversary and there’s no sign of donations slowing down. In the second quarter of this year, the Windermere Foundation collected $556,937, bringing our year-to-date total to $865,029, and our grand total to $38,871,157 raised since 1989. These donations are used to support non-profit organizations and programs that help low-income and homeless families throughout the Western U.S.

Every Windermere office has its own Windermere Foundation fund account from which we make donations to help those in need in our local communities. These funds come from each real estate transaction that we close, as well as individual donations from agents, staff, and the community.

Thank you for your support! Together, we are able to make a real difference for those in need in our local communities.

Posted on July 26, 2019 at 8:13 pm
Jill Langer | Category: Community, Monthly Newsletters, Windermere Foundation

Summer Camp Scholarships!

Every year, my office comes together to provide summer camp scholarships for local kids who may not otherwise have the opportunity to experience the adventures of overnight camp. This year we donated $17,125 to YMCA Camp Orkila and Camp Colman – our highest number ever! I am so proud to be part of an office that cares so deeply for the community!

Posted on June 9, 2019 at 4:08 am
Jill Langer | Category: Community, Fun Things To Do, Windermere Foundation

Windermere Roundation Recognized at Puget Sound Business Journal Philanthropy Luncheon

 

The Windermere Foundation was recognized last week, along with 74 other generous companies, at the annual Puget Sound Business Journal’s Corporate Philanthropy luncheon. The Windermere Foundation moved up the list (and it’s a very impressive list, full of national and international companies!) from #22 to #17!

Check out WindermereFoundation.com for more info on our culture of giving back.

Posted on June 9, 2019 at 2:31 am
Jill Langer | Category: Community, Windermere Foundation

Seed Drive!

We are collecting vegetable seeds and starts for the Martha Perry Garden, where volunteers grow thousands of pounds of fresh produce every year for local food banks.

My office will be spending a volunteer day in the garden for our annual Community Service Day in June. In addition to our labor, we will gift them all of the vegetable seeds and starts collected between now and then.

Partial packets of seeds are gladly accepted! All seeds should be no more than a year old, although fresh seeds are preferred.

Wish List:

Basil, Beets, Cabbage, Carrots*, Cauliflower, Chard, Cucumbers, Green Beans, Herbs, Marigolds, Peppers, Radishes, Summer Squash, Snow Peas, Tomatoes, Winter Squash, Zucchini

*High Demand!

Starts of cucumbers, winter & summer squash, cole crops (cabbage, cauliflower, broccoli, kale, etc) are especially welcome.

Drop seeds off at my office through June 6th
4211 Alderwood Mall Blvd #110, Lynnwood
Mon-Friday: 8am-5pm & Sat-Sun: 9am-3pm

Posted on May 6, 2019 at 5:44 pm
Jill Langer | Category: Community, Events, Gardening & Landscaping, Windermere Foundation

2019 Economic & Housing Forecast

 

Happy 2019! As we head into the New Year, it’s a great time to look ahead to what the real estate market has in store. Just last week, I had the pleasure of hosting an Economic Forecast Event with Windermere’s Chief Economist, Matthew Gardner, and soaked up his knowledge and predictions. Below are his general predictions for the at-large real estate market across the nation. Please review and let me know if you have any questions.

Beyond the national forecast, at the event Matthew reported specifically on the Greater Seattle market, including both King and Snohomish counties. I received his Power Point presentation and I am happy to share his slides, should you request them.

A few take-a-ways to note are:

  • Seattle remains strong economically and our job market is thriving.
  • Interest rates are still historically low and will rise, but not beyond 6%.
  • It is still a seller’s market in our area, but price escalations are softening, creating more balance and sustainability. We are NOT experiencing a bubble.
  • 25% of homeowners in our region have 50% equity in their homes.
  • An economic recession is upon us in 2020. This one should be much like the 1991 recession; short and not based in housing.
  • Be careful how you process the media’s take on the market as they often use extreme month-over-month numbers vs. richer long-term data.
  • Prices are expected to rise 5-7% in 2019, which is more normal, but above the long-term average, yet lower than the recent double-digit year-over-year gains we’ve seen since 2012.

It is always my goal to help empower my clients with information to help them make informed decisions regarding their real estate.  Let me know if you’d like that Power Point. I’m happy to share and help you dissect the information. Here’s to a great 2019!

 


2019 Economic and Housing Forecast
Posted on Windermere.com in Market News by Matthew Gardner, Chief Economist, Windermere Real Estate 

What a year it has been for both the U.S. economy and the national housing market. After several years of above-average economic and home price growth, 2018 marked the start of a slowdown in the residential real estate market. As the year comes to a close, it’s time for me to dust off my crystal ball to see what we can expect in 2019.

The U.S. Economy

Despite the turbulence that the ongoing trade wars with China are causing, I still expect the U.S. economy to have one more year of relatively solid growth before we likely enter a recession in 2020. Yes, it’s the dreaded “R” word, but before you panic, there are some things to bear in mind.
Firstly, any cyclical downturn will not be driven by housing.  Although it is almost impossible to predict exactly what will be the “straw that breaks the camel’s back”, I believe it will likely be caused by one of the following three things: an ongoing trade war, the Federal Reserve raising interest rates too quickly, or excessive corporate debt levels. That said, we still have another year of solid growth ahead of us, so I think it’s more important to focus on 2019 for now.

The U.S. Housing Market

Existing Home Sales
This paper is being written well before the year-end numbers come out, but I expect 2018 home sales will be about 3.5% lower than the prior year. Sales started to slow last spring as we breached affordability limits and more homes came on the market.  In 2019, I anticipate that home sales will rebound modestly and rise by 1.9% to a little over 5.4 million units.

Existing Home Prices
We will likely end 2018 with a median home price of about $260,000 – up 5.4% from 2017.  In 2019 I expect prices to continue rising, but at a slower rate as we move toward a more balanced housing market. I’m forecasting the median home price to increase by 4.4% as rising mortgage rates continue to act as a headwind to home price growth.

New Home Sales
In a somewhat similar manner to existing home sales, new home sales started to slow in the spring of 2018, but the overall trend has been positive since 2011. I expect that to continue in 2019 with sales increasing by 6.9% to 695,000 units – the highest level seen since 2007.

That being said, the level of new construction remains well below the long-term average. Builders continue to struggle with land, labor, and material costs, and this is an issue that is not likely to be solved in 2019. Furthermore, these constraints are forcing developers to primarily build higher-priced homes, which does little to meet the substantial demand by first-time buyers.

Mortgage Rates
In last year’s forecast, I suggested that 5% interest rates would be a 2019 story, not a 2018 story. This prediction has proven accurate with the average 30-year conforming rates measured at 4.87% in November, and highly unlikely to breach the 5% barrier before the end of the year.

In 2019, I expect interest rates to continue trending higher, but we may see periods of modest contraction or levelling.  We will likely end the year with the 30-year fixed rate at around 5.7%, which means that 6% interest rates are more apt to be a 2020 story.

I also believe that non-conforming (or jumbo) rates will remain remarkably competitive. Banks appear to be comfortable with the risk and ultimately, the return, that this product offers, so expect jumbo loan yields to track conforming loans quite closely.

Conclusions
There are still voices out there that seem to suggest the housing market is headed for calamity and that another housing bubble is forming, or in some cases, is already deflating.  In all the data that I review, I just don’t see this happening. Credit quality for new mortgage holders remains very high and the median down payment (as a percentage of home price) is at its highest level since 2004.

That is not to say that there aren’t several markets around the country that are overpriced, but just because a market is overvalued, does not mean that a bubble is in place. It simply means that forward price growth in these markets will be lower to allow income levels to rise sufficiently.

Finally, if there is a big story for 2019, I believe it will be the ongoing resurgence of first-time buyers. While these buyers face challenges regarding student debt and the ability to save for a down payment, they are definitely on the comeback and likely to purchase more homes next year than any other buyer demographic.

Originally published on Inman News.
 

 

At Windermere we help people buy and sell homes, but we also help build community. I’m proud to support the Windermere Foundation with every home I help sell or buy. 2018 concluded with another great year of fundraising and giving for the Windermere Foundation, thanks to the continued support of agents, franchise owners, staff, and the community. Nearly $2.5 million was raised in 2018, bringing our grand total to over $38 million raised since the Foundation’s inception in 1989! This money goes right back into our community, helping low-income and homeless families. Read the full blog post here.

 

 

This past Christmas, my office adopted 22 foster boys, ranging in age from 13-18 years old, and living in group homes managed by Pioneer Human Services. These group homes serve boys who are struggling with emotional, behavioral and/or psychiatric problems that prevent placement in a traditional foster care setting. We purchased gifts, using wish lists from the boys, to help provide a joyful Christmas morning for these teenage boys who might otherwise be overlooked.

The office also raised money for grocery gift cards for families in need (also referred by Pioneer Human Services). This year we distributed $2,068 in grocery gift cards to 15 local families.

We are also thrilled to report that through our partnership with the Seattle Seahawks, this season Windermere raised a total of $31,900 for YouthCare, an organization that provides critical services for homeless youth. This brings our three-year total to $98,700 towards our#tacklehomelessness campaign! Thank you to the Seahawks and to YouthCare for helping us support homeless youth in our community. We’ll be back next year to raise even more!

Posted on February 3, 2019 at 7:18 pm
Jill Langer | Category: Buying Homes, Economic Forecasts & Trends, Matthew Gardner, Monthly Newsletters, Selling Homes, Windermere Foundation

November Monthly Newsletter

 

Quarterly Economic Update for Western Washington
We are so fortunate here at Windermere to have Matthew Gardner, Windermere’s Chief Economist to help keep us informed on our economy and the real estate market. Each quarter Matthew compiles in-depth research on counties from across Western Washington. Click here to download Matthew’s full Q3 2018 report and check out the latest on the area you call home.

 

 

 

At the close of the third quarter, the Windermere Foundation had donated (year-to-date) over $1.2 million to non-profit organizations in communities throughout the Western U.S. that provide services to low-income and homeless families.

During the third quarter alone, the Windermere Foundation collected over $742,226 in donations; 70 percent of which came from individual contributions and fundraisers, while 30 percent came from donations through Windermere agent sales transactions. This brings the grand total to $37,151,731 raised since 1989!

If you would like to learn more about how the Windermere Foundation is supporting low-income and homeless families in our communities, check out this blog post. And for information on how we’re helping the California Wildfire Relief Fund, click here.

Thank you for your support! Together, we are able to make a real difference for those in need in our local communities.

Click here to learn more about the Windermere Foundation.

 

 

#TackleHomelessness Update
Consider this house protected. In our last home game win against the Packers, the Seattle Seahawks also brought home $2,800 to be donated to YouthCare to #TackleHomelessness. With that, we’re up to $15,000 raised this season and $81,800 in total! Great work and #GoHawks!
 

 

Do you want to be “In the Know” in your neighborhood? Sign up for a monthly overview of what’s happening in the zip code(s) of your choice. Neighborhood News is a great tool to stay informed about the home values and activity in your own backyard or to study a new market you may be interested in.Click here to sign up on my website.
Posted on November 28, 2018 at 11:26 pm
Jill Langer | Category: Buying Homes, Economic Forecasts & Trends, Gardner Reports, Matthew Gardner, Monthly Newsletters, Selling Homes, Windermere Foundation

#TackleHomelessness for YouthCare

 

#TackleHomelessness 

 

Every play matters in the fight against homelessness! Congratulations to the Seattle Seahawks for helping us raise $4,600 to #TackleHomelessness in their last home game against Los Angeles. That brings our season total to $9,200 and our cumulative money raised to $76,000! Good luck to the Hawks this weekend in Detroit! 

Posted on October 31, 2018 at 3:25 am
Jill Langer | Category: Community, Monthly Newsletters, Windermere Foundation | Tagged ,

Wealth-Building Opportunities for First-Time Home Buyers Abound

 

 

With the sharpest increase of available homes for sale in years, more opportunities are now available for buyers, including first-timers. Many first-time home buyers have sat on the sidelines and remained renters due to the constriction of inventory, which put major pressure on price affordability. Not only has affordability been an issue, but the terms required to prevail in a multiple-offer situation were often not within reach for someone entering the market for the first time.

For example, over the last 12 months in the Seattle Metro area we have seen a 66% increase in the selection homes for buyers to choose from. There is currently 1.8 months of available inventory based on pending sales versus 0.8 months that was available the same month last year. This is still a seller’s market (0-3 months), but it is providing more than twice as much selection than a year ago. This loosening up of the market has helped to temper price growth by reducing the amount of price escalations and the need to have super aggressive financing terms in order to secure a home.

You see, over the last 3-4 years we have experienced double-digit price appreciation (10-14%) year-over-year, each year. A normal rate of appreciation is 3-5%. Minimal amounts of available inventory, low interest rates, and rapid job growth lead to this increase in prices. Now that more homes are coming to market and job growth has stabilized a bit (still growing, but not as fast), price growth has slowed. This is good news for sustainability and affordability. Here’s the deal though – we are still experiencing growth in values, making home ownership a sound investment over renting.

According to the most recent survey from rentcafe.com, the average rent for an apartment in Seattle is $1,906 with an average square footage of 736 sq. ft. That is quite a bit of money for not a ton of space. Further, that monthly expenditure does not create any wealth for the renter, only for the landlord. With renting, rates can be increased at any time, and you are paying down someone else’s asset, not your own. Also, owning gives the homeowner control of their overhead, while getting to make their house their home by adding improvements such as painting.
  
There are several factors to consider that will lead a person to make the best decision for their lifestyle and their financial bottom line. One of the biggest factors is interest rates! Currently, the rate for a 30-year fixed, conventional, conforming loan is hovering around 4.88%. Up from earlier this year and predicted to rise, but still historically low over the course of the last 30 years. These rates need to be considered the greatest opportunity of them all! With prices tempering and rates still under the 30-year average of 6.65%, buyers are able to secure a sound investment with very low debt service.

With interest rates predicted to rise over the next year, a good rule of thumb to remember is that for every one-point increase in rate, a buyer loses 10% of their buying power. For example, if the rate jumps from 4.75% to 5.75% and one wants to keep the same monthly payment, they must adjust their price point down by 10%. So, a $450,000 budget becomes a $405,000 budget, and that isn’t taking appreciation into consideration. If you assume an average appreciation rate of 4% year-over-year, today’s $450,000 house will be $468,000 next year. What side of the equity growth do you want to be on? As an owner now, or a buyer a year from now, when prices are higher and interest rates are most likely higher as well?

Once you secure a mortgage, the payment stays the same over the term of the entire loan. The long-term benefits of owning are abundant, including the stability of not being asked to move. These are important factors to consider for everyone, but especially millennials, who are enjoying the benefits of Seattle’s attractive job market. One myth to address is the common belief that you must have a 20% down payment in order to buy a home. That is simply not true. There are loan programs as low as 3% down, decreasing the need to have a large sum of money saved up before being able to buy.

Where folks are having to compromise the most due to affordability is commute times, and settling in less-urban neighborhoods. Worth pointing out, is the average home price in south Snohomish County is 34% less than Seattle Metro – that is a huge savings! Further, south King County is 74% more affordable than Seattle. Some people, mainly millennials, have not been willing to give up living in the core urban neighborhoods that have high walk scores and shorter commute times. That should be apt to change with more selection available in the purchase market, coupled with low interest rates. The advantages of moving out a little further and securing a home will start people on the track of building long-term wealth. If you or anyone you know is currently renting and is considering a change, please let me know, as I would be happy to get their questions answered and help them make an informed decision.

 

 
Don’t Wait for a Disaster to Build Your Emergency Kit
 

 

Two Weeks Ready: Be Prepared. Build Kits. Help Each Other.

The first few days after a disaster are often the most critical. Government and essential services may not be available right away, depending on the circumstances. It is imperative to have a plan in place for such a time, and be ready to act on your own.

Washington’s biggest disaster threat is from earthquakes. Washington State’s Emergency Management Division advises that we take precautions to be on our own for at least 2 weeks. Take a look at their Two Week Ready Brochure (PDF) that outlines the basics necessary for your emergency kit. While it is important to get ready, don’t feel like you have to do it all at once. The list of necessities is long, so take a look at the agency’s year-long prep plan. You will also find information on pet preparedness, as well as the agency’s Drop, Cover, and Hold Earthquake Scenario map.

 

 
#TackleHomelessness Update

 

 

 

During last weekend’s win against Dallas, the Seattle Seahawks had 46 defensive tackles, raising another $4,600 for Windermere’s #TackleHomelessness campaign. Combined with what we’ve raised over the past two seasons, this brings our to-date grand total to $71,400! All season long we’ll be partnering with the Seahawks to raise money for YouthCare in support of homeless youth.
Posted on September 26, 2018 at 1:51 am
Jill Langer | Category: Buying Homes, Community, Economic Forecasts & Trends, Home Maintenance, Monthly Newsletters, Windermere Foundation

#TackleHomelessness!

 

Windermere and the Seahawks are Back 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 tackle during the 2018 season to YouthCare, a Seattle-based non-profit organization that has been providing services and support to homeless youth for more than 40 years. Over the last two years, the Seahawks helped us raise over $66,000 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. 

Posted on August 31, 2018 at 9:59 pm
Jill Langer | Category: Community, Windermere Foundation