Community Service Day 2018 – Windermere Bellevue Commons

Windermere Community Service Day – June 8th, 2018

Every year since 1984, Windermere managers, brokers and staff have dedicated a day of work to complete neighborhood improvement projects as part of Windermere’s Community Service Day. Creating vibrant communities is one of the things that inspire all of us at Windermere as it gives us an opportunity to give back to the communities where we live and work.  After all, real estate is rooted in our communities. And an investment in our neighborhoods gives us all a better place to call home.

This year Windermere Community Service Day is on June 8th, 2018. On this day, our brokers and staff at Bellevue Commons will be doing a variety of projects at Little Bit Therapeutic Riding Center; we’ve been volunteering at this great organization for the past 18 years. We will be cleaning, gardening and painting to help out this awesome group of people.

Last year we helped Little Bit get ready for their auction, whacked the weeds, and washed windows, and planted new plants. The brokers also washed the horses’ paddock fencing and arena fencing.

 

 

Volunteering at Little Bit – June 2017

Little Bit Therapeutic Riding Center improves the bodies, minds, and spirits of children and adults with disabilities through equine-assisted therapies and activities, and to be an inspiration and educational resource to the therapeutic riding profession, both regionally and nationally.

Watch this video to learn more about Little Bit.

First posted on windermere-bellevue.com.

Posted on June 20, 2018 at 7:00 pm
Oleg Doukhnevitch | Posted in Community Support, Donate, Events | Tagged , , , , , , , , , ,

What’s Happening in the Market in May 2018?

Here are the Current stats via “What’s Happening in the Market” for the month of May 2018 for Eastside (based on Residential and Condominium report):

  • Is the market shifting? It is too early to call and the real estate statistics show demand still far exceeding supply, however still low, there has been a significant increase in inventory.
  • Number of properties for sale is increasing:

o             1,230 active properties for sale is the highest number in the past 20 months or since August 2016.

o             Active inventory is up 350 properties or 40% compared to a year ago (May 2018 = 1,230 vs May 2017 = 880)

  • Statistics indicating more demand than supply:

o             Less than one month’s supply of inventory.

             0.9 May 2018 vs 0.6 May 2017 vs 0.8 May 2016 vs 1.1 May 2015

o             Sales prices on closed May sales are up 14% to $859,950 vs $753,750 May 2017.

o             58% of houses sold over list price compared to 62% in April 2018 and 61% in May 2017

The increased inventory means Sellers and listing brokers will need to consider active competition.  Condition, marketing and pricing will be more important with rising inventory.

April-2018-YTD-Residential-Stats.jpg


Posted on June 13, 2018 at 5:17 pm
Oleg Doukhnevitch | Posted in Uncategorized |

King & Snohomish County Market Stats – April 2018

April 2018 active inventory rose 25% from March 31 2018 and 17% from April 2017.

Historically listings taken and active listings at the end of the month grow from April through July. In addition the majority of the year’s appreciation occurs in the first six months.

What does this mean:

  • Buyers can be a little more picky, more listings are coming, but they still are going to have to be aggressive with their offers
  • 62% sold for over list price and 83.4% sold in less than 15 days. However these are the properties that sold.
  • April 2018 active inventory rose 25% from March 31 2018 and 17% from April 2017.
  • Sellers may want to be cautious about pushing their asking price.

First posted on windermere-bellevue.com.


Posted on June 13, 2018 at 4:42 pm
Oleg Doukhnevitch | Posted in Uncategorized |

The Oleg Group Vlog

I am excited to share the First Episode of my Vlog. In this video you’ll see what I’ve been up to last month, learn why Kirkland’s residential price went up 32.5% (the highest price change in King County) within a year and why people love this beautiful city.

In the next episodes, I will be showing you other cities in WA state. Subscribe to my Youtube channel and stay tuned for the next episode!


Posted on June 11, 2018 at 7:27 pm
Oleg Doukhnevitch | Posted in Uncategorized |

Local Farmers Markets Summer 2018


Posted on May 23, 2018 at 7:14 pm
Oleg Doukhnevitch | Posted in Uncategorized |

How to Get Back to a Balanced Housing Market

Developers are not building enough single-family homes to keep up with demand. The reason why? Cost. Windermere’s Chief Economist, Matthew Gardner explains why new construction is so cost prohibitive and how to shift the trend.

 

First posted at Windermere.com


Posted on May 9, 2018 at 5:13 pm
Oleg Doukhnevitch | Posted in Home Buying, Market Stats, Real Estate News | Tagged , , , , , , , , , ,

How Rising Prices Will Help You Build Family Wealth In 2018

Homeowners can build wealth by purchasing a home. Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple purchases and closes on a $250,000 home this month (January). If we only look at the projected increase in the price of that home, how much equity will they earn over the next 5 years?

How Rising Prices Will Help You Build Family Wealth in 2018 | Keeping Current Matters

Since the experts predict that home prices will increase by 4.2% in 2018, the young homeowners will have gained $10,500 in equity in just one year.

Over a five-year period, their equity will increase by nearly $45,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.

Bottom Line

Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, speak to a professional and find out if you are able to today!

First posted at windermere-bellevue.com


Posted on May 9, 2018 at 5:05 pm
Oleg Doukhnevitch | Posted in Home Buying | Tagged , , , , , , ,

This Just In: Data Says May is the Best Month to Sell Your Home

This Just In: Data Says May is the Best Month to Sell Your Home | MyKCM

According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home.

For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved for each month of the year. Below is a breakdown by month:

This Just In: Data Says May is the Best Month to Sell Your Home | MyKCM

ATTOM even went a step further and broke their results down by day.

Top 5 Days to Sell:

  • June 28th – 9.1% above market
  • February 15th – 9.0% above market
  • May 31st – 8.3% above market
  • May 29th – 8.2% above market
  • June 21st – 8.1% above market

It should come as no surprise that May and June dominate as the top months to sell and that 4 of the top 5 days to sell fall in those two months. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, which often leads to bidding wars.

One caveat to mention though, is that when broken down by metroATTOM noticed that while warmer climates share in the overall trend, it turns out that they have different top months for sales. The best month to get the highest price in Miami, FL, for instance, was January, and Phoenix, AZ came in with November leading the charge.

If you’re thinking of selling your home this year, the time to list is NOW! According to the National Association of Realtors, homes sold in an average of just 30 days last month! If you list now, you’ll have a really good chance to sell in May or June, setting yourself up for getting the best price!

Bottom Line

Let’s get together to discuss the market conditions in our area and get you the most exposure to the buyers who are ready and willing to buy!

First posted at www.mykcm.com.


Posted on May 3, 2018 at 7:43 pm
Oleg Doukhnevitch | Posted in Uncategorized |

Windermere Real Estate Hits Refresh Button on Company Brand

 

When you’ve been in business for 46 years, you learn that one of the keys to being successful is knowing when it’s time to spruce things up – and that’s exactly what we’ve done with the Windermere brand. We knew we didn’t need an entire brand overhaul, but a little facelift was definitely in order.

It all started in the spring of 2017 when we launched Windermere’s ultra-luxury marketing brand, W Collection. The development of that program and its visual identity caused us to take a step back and look at how the primary Windermere brand and all of its sub-brands worked together as a cohesive unit.

The result was a 12-month process that saw every element of the Windermere brand updated to reflect a more modern look and feel. Everything from signage to business cards, marketing materials, and the Windermere website now features our new and improved brand. For a complete look, please visit windermererefresh.com.

May 1 marks the official launch of the refreshed Windermere brand; to commemorate this major company milestone, we produced a video that visually embodies our core values of professionalism, relationships, collaboration, and community.

We’re incredibly proud of the refreshed Windermere brand and thankful that we’ve been able to serve communities up and down the West Coast for the past 46 years.

First posted at Windermere.com


Posted on May 2, 2018 at 7:35 pm
Oleg Doukhnevitch | Posted in Uncategorized |

Western Washington Real Estate Market Update

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. For further information about the housing market in your area, please don’t hesitate to contact me at 206-850-1151.

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 afordability—especially in markets near the major job centers.

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 firstquarter 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.

 

 

CONCLUSIONS

This 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.

 

 

 

Mr. 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.


Posted on April 25, 2018 at 6:50 pm
Oleg Doukhnevitch | Posted in Uncategorized |