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Just Listed: Auburn Rambler!

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Exterior of 31610 51st Ave S Auburn

31610 51st Ave S
Auburn, WA 98001
MLS # 1389266
Offered at $349,950

This solid Rambler checks all the boxes: A generous 15,000 SQF corner lot, hardwood floors, private master bath, large brick fireplace with propane insert for extra heat on chilly days. This well-cared for home also comes with upgrades including double pane windows and newer electrical panel wired for a generator. There’s even a fenced and level backyard, dog run, gardening shed, fruit trees, and extra off street parking. So much to love at a great price!

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November Market Update for Seattle Real Estate

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The Market Update report is compiled from statistics from the NWMLS’ InfoSparks using data from City: Seattle and Area 705 Ballard/Greenlake. In November, the median sales price of a Seattle home continued to level out, dropping only 1%.

  • The amount of homes for sale on the market dropped by about 20%, however that is in line with seasonal norms and market fluctuations as less people list their homes in November and December during the holiday season.
  • Days on market edged up slightly, with Seattle homes now spending about a month on the market before accepting an offer.
  • Due to the lack of new listings coming on the market, there was only 2.1 months of inventory (the amount of time it would take to sell all homes on the market if no new inventory were to come on.)
  • Total closed sales volume was down 20% from the previous month and sharply from November of 2017. In Ballard, it was down by nearly 50%! Not as many homes sold and people pulling back in the holiday season can explain the lack of listings and sales.

Got questions about Seattle real estate? Give us a call at 206-965-8205.

FHFA Increases Loan Limits for 2019

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Lender Loan Limits Increase House

The Federal Housing Financing Agency (FHFA) announced Tuesday that it would increase loan limits for 2019. This is the third year in a row that the FHFA has authorized new limits, which for home-buyers means the ability to borrow more money under a conventional loan structure with a limited down payment. The new loan limit will be $484,350, rising from $453,100 in 2018, an increase of 6.9%. This means a home-buyer could get a conventional loan up to $484,350 while putting as low as 3% down.

In King and Snohomish counties, the conforming loan limit is significantly higher than the national loan limit, at $726,525, up from $as the area’s property values have increased significantly in the last several years. Buyers wanting to finance a home with a conventional loan have increased flexibility with the new loan limits and minimum down payment structure.

Seattle’s market has recently been cooling off, so it’s a good time to jump in. We can put you in contact with a trusted local lender and help navigate your home purchase. Don’t hesitate to contact us at 206-965-8205 or drop us an email at hello@remaxonmarket.com.

Should Sellers Decorate Their Homes for the Holidays?

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decorated living roomTo deck the halls or not to deck the halls? That is the question many Sellers find themselves facing when their home sale creeps into late November and December. Should Sellers show their holiday spirit, or should they just remain neutral?

Our broker, John Manning, was quoted in this article by Fresh Home, and he believes Sellers should err on the side of caution. “At the risk of sounding like a Grinch, we vote not. Buyers can hail from a variety of cultures and religious views, and if you want your home to appeal to the widest audience, you need to create a neutral environment. Buyers are walking through prospective homes envisioning their own life in the home, literally thinking, ‘Will this home suit me and my family throughout the year?’”

Furthermore, Anita Springate-Renaud, licensed partner and broker at Engel & Völkers Toronto Central, says elaborate or excessive decorations can distract from the parts of the home Sellers want to shine in any potential property walk-through. These include things like square footage, wall space, the quality of finishes and other amenities. How are buyers going to see how large your living room is with a 12-foot tree filling it up?

If you have questions about how to sell your home in Seattle or preparing your home for the market, we’re always here to help. Give us a call at 206-965-8205 or email hello@remaxonmarket.com. We’re always happy to provide a complimentary analysis of your home.

October Market Update for Seattle Real Estate

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The Market Update report is compiled from statistics from the NWMLS’ InfoSparks using data from City: Seattle and Area 705 Ballard/Greenlake. In October, the dropping prices in Seattle’s real estate began to level out, with only a 1% price drop month-over-month. Listings stayed level, suggesting that homes are moving and Sellers may be more cautious. Days on market edged up slightly, but not as much as previous months, and closed sales were up for the first month since July.

Got questions about Seattle real estate? Give us a call at 206-965-8205.

Just Listed: Green Lake Classic Tudor Home!

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Greenlake Tudor

7549 1st Ave NE
Seattle, WA 98105
MLS #1381524
Offered at $1,880,000

Impeccable Green Lake 4 bed 2.75 bath tudor, perfectly located & restored to its full splendor with the finest materials & finishes. Sophisticated & tasteful – custom solid mahogany & cherry cabinetry, trim, shutters & inlays in oak hardwoods. Elegant Arts & Crafts (Batchelder?) fireplace & coved ceilings complete this timeless classic. Chef’s kitchen has Viking range. Easiest commute in Seattle yet serene on a street of gorgeous homes. Gardeners delight, large fenced yard, deck & landscaping.

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November 2018 Recommended Events in Seattle

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Lots of Dia de los Muertos events happening around Seattle:

Celebration and Art Show – Lake Forest Park
Dia de los Muertos Celebration – Lake City
Dia de los Muertos at MOHAI – South Lake Union
Dia de los Muertos at Seatac Airport – SeaTac
Dia de los Muertos Party – Burien
Dia de los Muertos – Phinney Ridge
Dia de los Muertos Community Event – Tacoma

Craft Your Own Terrarium
Thursday, Nov 1 @ The Works Seattle

Space Expo: Space Art and Tech
Friday, Nov 2 @ Charles Simonyi Space Gallery

Goo Goo Dolls
Friday, Nov 2 @ The Paramount Theatre
Dizzy up the girl and re-live the dreams of the 90’s with the Goo Goo Dolls.

Green Seattle Day!
Saturday, Nov 3 – all over Seattle, WA
Plant trees and beautify Seattle

Ballard’s Maritime Metamorphosis: Fishing Village to Urban Hub
Saturday, Nov 3 @ Starting at Marvin’s Garden
A Seattle Architecture guide will lead you on a path through the old fishing neighborhood of Ballard, once home to working-class fishers and mill workers and now a prized and pricey residential and business district.

Ballard Brewed Winter Beer Festival
Saturday, Nov 3 @ Hale’s Ales Palladium
Beers from local brewers and live music

Won’t You Be My Neighbor Screening
Monday, Nov 5 @ Seattle Central Library
The question isn’t how much you will cry. Bring your tissues for this Fred Rogers documentary on his life and impact as Mister Rogers.

General Election
Tuesday, Nov 6 @ Everywhere
Don’t forget to vote!

Vikings Were People Too
Thursday, Nov 8 @ Nordic Museum
Short, snappy, entertaining: Scandinavian 30 is a series of free, thirty-minute talks by UW Scandinavian Studies faculty held once each month at the Nordic Museum.

Ballard Art Walk
2nd Saturday @ Ballard

Seattle Winter Ciderfest
Thursday, Nov 8 @ Within SoDo

Seattle Restaurant Week
Oct 21 – Nov 8
Best way to try a variety of Seattle restaurants on the cheap. Restaurants participating in Restaurant Week offer a 3-course meal for $30.

Northwest Chocolate Festival
Nov 10th and 11th @ Smith Cove Cruise Terminal
Large gathering of chocolate makers from all over the world!

An Evening with Fleetwood Mac
Saturday, Nov 17 @ Tacoma Dome

Buyers See Relief As Housing Market Shifts

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Houses on a hill

Buyers are seeing relief in the housing market after years of double-digit percentage growth in the west coast housing market. Nationally, the story is that year-over-year home sales dropped by 11.6%.

In west coast markets, RE/MAX agents are reporting home sales are down nearly 20% in August and September, marking a shift from the days of multiple offers and crazy escalations that Seattle, San Francisco and other hot markets have become accustomed to.

Our broker, John Manning, was quoted in the Forbes article. “There’s a healthy correction to the ‘red hot’ sellers’ market last spring with its multiple offers, low inventories, waived contingencies, and frustrated buyers,” Manning notes. “Sellers are realizing that it may take weeks or months to sell their home and to be competitive, they may need to make property improvements, invest in staging and marketing. Buyers are awakening to the fact they have more choice and purchasing power.”

If you’re on the market for a home or interested in selling, we’re happy to give you a free expert consultation. Our team of brokers helps buyers and sellers all over Seattle and the Puget Sound area, from Everett to Tacoma. Give us a call at 206-965-8205 or email hello@remaxonmarket.com to get started.

Just Listed: Ballard Townhouse

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Ballard Townhouse

2452 NW 57th St
Seattle, WA 98107
MLS #: 1373350
Offered at $748,000

Bright & airy townhouse on corner lot in prime Ballard location. Well maintained home with high ceilings, gleaming hardwood floors, balcony & gas fireplace. Two bedrooms upstairs, including master with large walk-in closet. Ground level bedroom has full bath & separate entrance to fully fenced sunny yard & patio. Radiant heat & one car garage plus private driveway parking. Located on pleasant tree-lined street. Walk score of 93! Nearby Ballard Locks, Burke Gilman Trail & downtown Ballard.

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NWMLS InfoSparks September Market Update for Seattle and Ballard

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The Seattle and Ballard Market Update is a monthly update using information from NWMLS’ InfoSparks using data for sold residential and condominium homes in Seattle and the Ballard/Greenlake area. September’s Market update key points include:

  • Median sales price is up slightly
  • Listings available are up 25% from last month. Not quite as much as July to August, but still a significant jump nonetheless
  • Closed sales were down again, a 28% drop from August to September
  • Average days on market jumped to 23 days for Seattle, increasing the months of inventory to 2.4. We haven’t seen that high of a month’s supply since Sep 2013.
  • Total sales volume was down sharply, by almost $200 Million

Have questions about buying or selling, or specific questions on trends in your neighborhood? Shoot us an email at hello@remaxonmarket.com. We’re happy to answer all your questions!