Windermere Foundation Donates Nearly $1 Million in the first half of 2018

Thanks to the generosity of Windermere agents, staff, franchise owners, and the community, the Windermere Foundation has proudly donated a total of $920,351 so far this year to non-profit organizations that provide services to low-income and homeless families. This brings the total amount of money that the Windermere Foundation has raised since 1989 to over $36 million.

Each Windermere office has its own Windermere Foundation fund account that they use to make donations to organizations in their local communities. One such organization in Boise, Idaho is CATCH (Charitable Assistance to Community’s Homeless), whose vision is to end homelessness for families by providing programs that work with local resources to provide stable housing, inspire financial independence, and build on a family’s strength and resilience.

The Windermere Caldwell and Boise Valley offices have worked with CATCH for over six years, with funding support from the Windermere Foundation. These donations help pay for programs that provide hope and support to many families in Idaho’s Treasure Valley…families like Andrea’s. *

Before CATCH, Andrea had come out of an abusive relationship, leaving her to raise her three young children on her own. When they became homeless, they spent six months living out of her car, waiting until a more stable living situation became available. Finally, the call came from Andrea’s case manager that they had been accepted into the CATCH program. Through the program, Andrea had access to resources to help her find housing. After about a month, she was able to find the perfect home for her family.

During her few months in the CATCH program, Andrea said she not only gained housing, but also so much more. “I’ve gained a bigger support system, more love, and knowledge. I’ve gained more strength and responsibility. I learned how to budget, worked at bettering my career, and I didn’t feel alone anymore. But most of all, CATCH has allowed me to put my pride away at times I didn’t need it and accept what I do need, and that is LOVE. I thank the CATCH program for helping me and my family grow stronger.”

Generous donations to the Windermere Foundation over the years have enabled Windermere offices to continue to support local non-profits like CATCH.

If you’d like to help support programs in your community, please click on the Donate button. To learn more about the Windermere Foundation, visit windermerefoundation.com

First posted on windermere-bellevue.com

Posted on August 16, 2018 at 4:04 pm
Oleg Doukhnevitch | Category: Community Support, Windermere Bellevue Commons News | Tagged , , ,

The Gardner Report – Second Quarter 2018

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.

Economic Overview

The Washington State economy added 83,900 new jobs over the past 12 months, representing an annual growth rate of 2.5%. This is a slowdown from the last quarter, but employment growth remains well above the national rate of 1.6%. Employment gains continue to be robust in the private sector, which was up by 2.8%. The public sector (government) grew by a more modest 1.1%.

The strongest growth sectors were Retail Trade and Construction, which both rose by 4.8%. Significant growth was also seen in the Education & Health Services and Information sectors, which rose by 3.9% and 3.4%, respectively.

The State’s unemployment rate was 4.7%, down from 4.8% a year ago. Washington State will continue adding jobs for the balance of the year and I anticipate total job growth for 2018 will be around 80,000, representing a total employment growth rate of 2.4%.

Home Sales Activity

  • There were 23,209 home sales during the second quarter of 2018. This is a drop of 2.3% compared to the same period a year ago.

  • Clallam County saw sales rise the fastest relative to the same period a year ago, with an increase of 12.6%. Jefferson County also saw significant gains in sales at 11.1%.

  • The number of homes for sale last quarter was down by a nominal 0.3% when compared to the second quarter of 2017, but up by 66% when compared to the first quarter of this year. Much has been mentioned regarding the growth in listings, but it was not region-wide. King County saw a massive 31.7% increase in inventory, though all but three of the other counties covered in this report saw the number of listings drop compared to a year ago.

  • The takeaway from this data is that while some counties are seeing growth in listings — which will translate into sales down the road — the market is still out of balance.

Home Prices

  • Home prices continue to trend higher across Western Washington, but the pace of growth has started to slow. This should please would-be buyers. The spring market came late but inventory growth in the expensive King County market will give buyers more choices and likely lead to a slowing down of price growth as bidding wars continue to taper.

  • When compared to the same period a year ago, price growth was strongest in Mason County, which was up 17.4%. Eleven other counties experienced double-digit price growth.

  • Mortgage rates, which had been rising significantly since the start of the year, have levelled off over the past month. I believe rising rates are likely the reason that inventory levels are rising, as would-be sellers believe that this could be the right time to cash out. That said, the slowing in rate increases has led buyers to believe that rates will not jump soon, which gives them a little more breathing room. I do not expect to see any possible slowdown in demand until mortgage rates breach the 5% mark.

Days on Market

  • The average number of days it took to sell a home dropped by seven days compared to the same quarter of 2017.

  • King County continues to be the tightest market in Western Washington, with homes taking an average of only 13 days to sell. Every county in the region other than Clallam saw the length of time it took to sell a home drop when compared to the same period a year ago.

  • Across the entire region, it took an average of 41 days to sell a home in the second quarter of this year. This is down from 48 days in the second quarter of 2017 and down by 20 days when compared to the first quarter of 2018.

  • Although we did see some inventory increases when compared to the first quarter of the year, we are essentially at the same level of homes on the market as a year ago. The market has yet to reach equilibrium and I certainly do not expect to reach that point until sometime in 2019.

Conclusions

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors. For the second quarter of 2018, I have moved the needle very slightly towards buyers, but it remains firmly a seller’s market. This shift is a function of price growth tapering very slightly, as well as the expectation that we should see more homes come on the market as we move through the balance of the year.

 

 

Matthew 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.

 

 

 

 

 

This post originally appeared on the Windermere.com Blog.

Posted on July 25, 2018 at 9:27 pm
Oleg Doukhnevitch | Category: Home Update, Market Stats, Real Estate News, windermere, Windermere Bellevue Commons News | Tagged homeless | Tagged , , , , , , ,

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 | Category: Home Buying, Market Stats, Real Estate News | Tagged , , , , , , , , , ,

Coffee with Oleg

How to Hire the Best Landscape Contractor for Your Project

You’ve approved your landscape architect’s final site plan for your landscape design, and now it’s time to get the project built. You can pay the landscape architect to select a contractor for you, or you can hire one on your own. Like other building professionals, landscape contractors have different skillsets and levels of experience. A landscape contractor does not need an award-winning portfolio of work in order to do a great job. The work of the contractor comes down to getting the job done on budget and on time while providing good, reliable service and quality installation work.

Read More >

Posted on 31 May 2017 | 6:30 pm

How are inventory shortages impacting the housing market?

The shortage of homes for sale has been a major concern for buyers and real estate agents over the last few years. Windermere Chief Economist, Matthew Gardner, explains the impact these shortages are having on the housing market.

Read More >

Posted on 30 May 2017 | 7:25 pm

At Home in the Outdoors

More than 80 percent of Americans say they want an outdoor living space where they can relax and entertain. And it’s no wonder why. Outdoor spaces extend your livable space, add visual interest, and increase not only your quality of life, but also the overall value of your home. (In some cases, the increase in your home’s value can cover most or all of the cost to create the new space.) Here are some options to consider:

Read More >

Posted on 23 May 2017 | 8:50 pm

The Trump Administration’s Impact on U.S. Housing

Will the Trump administration have an impact on the U.S. housing market? Windermere Chief Economist, Matthew Gardner, weighs in on how mortgage rates, inflation, and the possible repeal of Dodd-Frank could impact housing in the foreseeable future.

Read More >

Posted on 22 May 2017 | 7:00 pm

Windermere’s Chief Economist Weighs in on White House Uncertainty

Windermere Real Estate Chief Economist, Matthew Gardner, was interviewed by real estate industry news leader, Inman News, on what impact recent White House turmoil could have on the U.S. housing market. This is what he had to say:

Read More >

Posted on 18 May 2017 | 10:00 pm

5 Things Your Contractor Doesn’t Want to Hear

There are parts of every job, no matter what field you’re in, that are just less fun than others. Building professionals pride themselves on doing anything and everything to make clients happy. But that doesn’t always mean the builder is jumping up and down with excitement at every stage of a project.

Read More >

Posted on 18 May 2017 | 6:30 pm

Windermere Helps Fight Food Insecurity by Funding Weekend and Summer Meal Programs

For many children, the free meals that they receive in the school cafeteria may be the only food that they get for the entire day. And that’s just on the weekdays. On the weekends, children often go hungry because their families cannot afford to cover basic household expenses, including groceries. And when the school year ends, they lose the security of those two meals, making summer the hungriest season of the year for children in our communities.

Read More >

Posted on 17 May 2017 | 6:00 pm

Oregon and Southwest Washington Real Estate Market Update

ECONOMIC OVERVIEW

Oregon State has added almost 40,000 new jobs over the past 12 months. Although growth has slowed significantly, we can attribute this to the fact that the state has reached “full employment.” When this is achieved, growth has to rely on the population rising to drive jobs higher and, inevitably, the pace slows. Year-over-year, employment in Oregon rose by 2.2%.

Read More >

Posted on 15 May 2017 | 6:00 pm

How to Stay Organized During a Home Renovation

When you’re embarking on a renovation project, it’s a good idea to clear as much space as possible before the chaos ensues. Think about what you want and need in your new room, and thoroughly declutter the area. Follow these tips for clearing, organizing and storing to ensure your building work creates as little upheaval as possible.

Read More >

Posted on 12 May 2017 | 6:30 pm

Colorado Real Estate Market Update

ECONOMIC OVERVIEW

Annual employment in Colorado grew by a respectable 2.3% in February, which equated to about 64,000 new jobs over the past 12 months. Within the metropolitan market areas included in this report, employment has been mixed, with Denver, Fort Collins, and Colorado Springs reporting above-average growth. However, Greeley and Grand Junction saw a modest decline in employment.

Read More >

Posted on May 31, 2017 at 8:26 pm
Oleg Doukhnevitch | Category: Real Estate News | Tagged , ,