February Newsletter

                                 February Newsletter from Oleg Doukhnevitch

Oleg Doukhnevitch February Newsletter

Seattle Real Estate Broker- Oleg Doukhnevitch

 


Posted on February 19, 2018 at 7:28 pm
Oleg Doukhnevitch | Posted in Real Estate News, Real Estate Tips, seattle |

Local Market Update – February 2018

With competition for homes growing and inventory shrinking, the real estate market in January was as hot as ever.  Home prices were up by double digits as buyers chased severely limited inventory. The number of homes for sale hit a record low for the month of January, which should strongly favor sellers as we move into the prime spring selling season.  The average home seller in our area now makes a 64 percent profit, the fourth-highest rate of any region in the country, according to ATTOM Data Solutions.

Eastside

>Click image to view full report.

Home prices on the Eastside continue to climb. The median price of a single-family home was up 18 percent over last January to $938,000 —­ virtually unchanged from the record high set a month ago. West Bellevue, King County’s most expensive area,  saw the median home price surge to a record high of $2.72 million. With less than a month of available inventory, prices aren’t expected to cool any time soon.

King County

>Click image to view full report.

Single-family home prices in King County soared 20 percent over a year ago to $628,388, with double-digit increases recorded in every area of the county.  Lack of inventory continues to fuel the market.  There were 21 percent fewer homes for sale here as compared to a year ago, with inventory hitting a record low for the month of January. The region has now been the hottest housing market in the country for 15 months in a row.

Seattle

>Click image to view full report.

An ongoing shortage of inventory combined with an economy that continues to add jobs has kept the Seattle housing market very competitive and increasingly expensive. Seattle’s median price hit a new record in January jumping 19 percent to $757,000.  Despite the increase in prices, brokers are reporting open house traffic that can number in the hundreds of interested buyers.

Snohomish County

>Click image to view full report.

Home price increases in Snohomish County were more moderate than those in King County. The median price of a single-family home grew 10 percent over a year ago to $450,000. That number is down from the high of last year, and reflects a more common seasonal slowdown.


Posted on February 14, 2018 at 6:41 pm
Oleg Doukhnevitch | Posted in Uncategorized |

Where Are Mortgage Interest Rates Headed in 2018?

Where Are Mortgage Interest Rates Headed in 2018? | MyKCM

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.

Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months.

Where Are Interest Rates Headed? | MyKCM

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.

According to CoreLogic’s latest Home Price Index, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year.

If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

Bottom Line 

Even a small increase in interest rate can impact your family’s wealth. Let’s get together to evaluate your ability to purchase your dream home.

First posted at KeepCurrentMatter.com


Posted on February 7, 2018 at 7:20 pm
Oleg Doukhnevitch | Posted in Uncategorized |

Affordable Tips To Up Your Home’s Curb Appeal

You’ll never have a second chance at a first impression, so let’s make it count! When it comes to upping your home’s curb appeal, there are plenty of small changes you can make that have a big impact. And best of all, you don’t need to call in the pros or spend a fortune to get beautiful results. Below are some helpful and affordable tips.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A Well-Maintained Yard

Mowing: The first step to a well-manicured lawn is to mow it regularly. The experts recommending mowing high because mowing it too short can damage the grass and allow weeds to set root.

Weeds: To prevent weeds like crabgrass use a pre-emergent herbicide in early spring. These herbicides manage the weeds by stopping the seeds from sprouting in your lawn. Broadleaf weeds like dandelions can be stopped by applying granular weed control products.

Feeding: Lawns consume mostly nitrogen, so look for mixes of fast and slow release fertilizers; they will feed your lawn over time while keeping it lush and green.

Watering: Nighttime watering can result in long spans of moisture on the blades, potentially exposing your grass to disease. Consider watering your lawn in the morning – the sun helps dry out the blades throughout the day.

Flowers: You can quickly and affordably dress up your yard with colorful pre-made flower pots and containers. When placing your flower pots and containers remember that asymmetrical arrangements and staggering plants will provided the liveliest setting.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dress up the Front Door and Porch

Paint: A fresh coat of paint in a pop color can give your home a well-deserved facelift. If you are hesitant to add a bright color to your front door, check out our article Energize Your Home This Winter With Bright Hues.

Replace Old Hardware: Clean off any dirty spots around the door knob, and use a metal polish on the fixtures. Change out house numbers for an updated feel, put up a wall-mounted mailbox, or add an overhead light fixture. Keep in mind that well thought through elements, instead of mix-and-match pieces, will add the most curb appeal.

Create Perfect Symmetry: Symmetry is one of the simplest design techniques to master and is the most pleasing to the eye. Maintain symmetry by flanking your front door with two sidelights (just make sure that your hardware matches); find two urn planters or a unique visual detail to put on either side of your door.

First posted at windermere-bellevue.com


Posted on February 7, 2018 at 7:04 pm
Oleg Doukhnevitch | Posted in Uncategorized |

The New Tax Code and Its Impact on Residential Real Estate

 

What about the three major concerns of real estate practitioners?

Continue reading


Posted on January 31, 2018 at 10:42 pm
Oleg Doukhnevitch | Posted in Uncategorized |

Windermere Foundation Surpasses $35 Million In Giving

The Windermere Foundation had another banner year in 2017, raising even more than it did the prior year thanks to the continued support of Windermere franchise owners, agents, staff, and the community. Over $2.4 million was raised in 2017, which is an increase of eight percent over the previous year. This brings our total to over $35.5 million raised since the start of the Windermere Foundation in 1989.

A portion of the money raised last year is thanks to our agents who each make a donation to the Windermere Foundation from every commission they earn. Additional donations from Windermere agents, the community, and fundraisers made up 66% of the money collected in 2017. These funds enable our offices to support local non-profits that provide much-needed services to low-income and homeless families in their communities.

SUMMARY OF FUNDS, GRANTS & DONATIONS IN 2017 

  • Organizations served: 472
  • Number of individual grants fulfilled: 644
  • Average grant amount: $2,964.04
  • Average donation to the Windermere Foundation: $116.08

 

 

 

 

FUNDING BREAKDOWN

  • Total amount disbursed in 2017:               $2,249,357.14
  • Total disbursed through grants:                 $1,908,843.54
  • Scholarships:                                                     5%
  • Youth/Child Programs:                                   33%
  • Emergency Assistance:                                   24%
  • Shelter:                                                             11%
  • School Assistance:                                            5%
  • Education/Counseling:                                   12%
  • Administrative Expenses:                                 2%
  • Fundraising Expenses:                                      8%

So how are Windermere Foundation funds used? Windermere offices decide for themselves how to distribute the money in their local community. Our offices have helped support school lunch and afterschool programs, housing assistance for homeless families, food banks, homeless shelters, and non-profits that provide basic necessities, such as shoes, clothing, toiletries, and blankets to families in need.

A very notable day in 2017 for the Windermere Foundation was November 15, when a record-breaking $253,782 was given in a single day.

A total of 35 non-profit organizations benefitted from that day’s donations, including Attain Housing in Kirkland, WA, which received $56,000 from the Windermere Real Estate East, Inc. group of offices. Other organizations that received donations were Boys and Girls Club of Contra Costa in Walnut Creek, CA, and the Shady Cove School in Shady Cove, Oregon.

2017 also marked the second year of our #tacklehomelessness campaign with the Seattle Seahawks, in which Windermere committed to donating $100 for every Seahawks home game defensive tackle to YouthCare, a non-profit organization that provides critical services to homeless youth. While the Seahawks didn’t make it to the playoffs this year, they did help us raise $31,800. When added to last year’s $35,000, that’s a total donation of $66,800. We are grateful for the opportunity to provide additional support to homeless youth thanks to the Seahawks, YouthCare, and the #tacklehomelessness campaign.

 

Thanks to our agents, offices, and everyone who supports the Windermere Foundation, we are able to continue to make a difference in the lives of many families in our local communities. If you’d like to help support programs in your community, please click the Donate button.

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

 

 

First posted in Windermere Foundation by Christine Wood 


Posted on January 31, 2018 at 10:13 pm
Oleg Doukhnevitch | Posted in Donate, windermere |

Study Shows “Millennials Deserve More Credit”

Study Shows "Millennials Deserve More Credit" | MyKCM

When it comes to talking about millennials, there are many stereotypes out there that have influenced the way the public feels about the generation. Whether it’s the assumption that millennials are irresponsible with money and would rather buy avocado toast than save for a down payment, or that millennials jump from job to job, the majority of these stereotypes paint the generation in a negative light.

A new study by Bank of America entitled Better Money Habits Millennial Report recently came to the defense of the generation when it reported that:

“Millennials deserve more credit – both from themselves and from others – for their mindfulness when it comes to money and their lives.”

Here are some key takeaways from the study proving that millennials deserve more credit for what they are already doing:

  • 63% are saving – (47% have $15,000 or more in savings)
  • 54% are budgeting – (73% who have a budget stick to it every month)
  • 57% have a savings goal – (67% who have a goal stick to it every month)
  • 46% have asked for a raise in the past 2 years – (80% who asked for a raise got one)
  • 59% feel financially secure – (16% have $100,000 or more in savings)

Many have wondered if millennials even want to own their own homes or if they would choose to rent instead. Well, not only do they want to own their own homes, but many already do and are looking to trade up! A recent study by realtor.com shows that 49% of Americans who plan to sell their home in the next 12 months are millennials!

Danielle Hale, realtor.com’s Chief Economist, gave some insight into why millennials are looking to sell,

“The housing shortage forced many first-time homebuyers to consider smaller homes and condos as a way to literally get their foot in the door. Our survey data reveals that we may see more of these homes hitting the market in the next year.”

Bottom Line

Not every millennial fits into the stereotypes that are so prominent in our society. Those who have risen above the stereotype are ready and willing to buy a home of their own, and many others already have!

First posted at www.mykcm.com.


Posted on January 31, 2018 at 9:19 pm
Oleg Doukhnevitch | Posted in Home Buying | Tagged , , , , , , , , , , ,

Creating Comfort Through Interior Design

 

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!

 

Continue reading


Posted on January 25, 2018 at 5:15 pm
Oleg Doukhnevitch | Posted in Home Design | Tagged ,

The Oleg Group Christmas and Clients Appreciation Party

 

We live in a crazy and fast growing world. Our calendars are full, our heads are packed with information, our phones run out of memory all the time. When we get a call from old friends who want to meet, we tell them that we need to check our schedule first… We are going in circles…

At the end of the year 2017, we decided to break that rule. We first thought not about year resolutions and setting goals but about people we know, people we work with, our clients and friends.

Working with customers 19 years, we want to get a chance to see those who trust us and our services. We appreciate that many of our customers were able to make it in the holidays rush and share Christmas and New Year celebration with The Oleg Group.
We wanted to thank everyone who came to create special memories that night. One of the sweet and unforgettable moments was the reunion of the old school friends from Vladivostok who didn’t see each other for 20 years and accidentally met at the party. We will also never forget the most charming Snegurochka Darina who made the evening!

This event would be never possible without our clients and partners. We are glad that The Oleg Group became a reliable resource for people and we hope to bring you more value.

Special thanks to our partners who participated in the organization of the Christmas and Clients appreciation party: Karina Bakhchinyan from Horizon Escrow and Dan Keller from Guild Mortgage.

Click here to see all photos from the event

 

 

Continue reading


Posted on January 17, 2018 at 9:34 pm
Oleg Doukhnevitch | Posted in Christmas |

December 2017 Year-to-date stats ~ What’s happening in the Market

The year is over and 2017 has shown to be one of the best years in recent memory for equity gain while creating more and more competition due to dwindling availability of homes. Pricing has recently reached all time highs with the median prices doubling over the past 6 years. That being said we don’t see it changing anytime soon with Consumer and Builder confidence on an all-time high. Those looking to Sell in 2018 will need to position their homes in the best possible light to receive top dollar and Buyers will need to be truly prepared to Buy in order to be awarded a New home in 2018!

OTHER DECEMBER MONTHLY TALKING POINTS
Eastside (based on Residential and Condominium report):
. Home prices nearly double in six years going from $407,000 in December 2011 to $810,000 in December 2017.
. The number of homes sold in December is virtually unchanged from a year ago (538 vs 541) even though there are 22% fewer houses for sale (451 vs 530).

It feels like 2018 will be similar to the past few years. A total frenzy until summer and then a flattening in price for the second half of the year. Interesting consistency in the past three years:

1. Big jump in median closed price in December.
2. By April or May the closed Median Price has reached the level it will remain close to, until the big jump in December


Posted on January 11, 2018 at 10:05 pm
Oleg Doukhnevitch | Posted in Market Stats, Real Estate News | Tagged , , ,