Jul 28

Moving Tips

Getting Ready to Move: Tips for a Smoother Transition

Moving to a new home is exciting, but it also comes with plenty of planning. Whether you’re moving across town or across the country, a little preparation can make the process less stressful. These practical tips will help you stay organized, protect your belongings, and settle into your new home more quickly.

https://youtu.be/G2JH-Yc6F8w?si=WCrvlFMuY0dRW1WF

20 Tips for an ORGANIZED Moving Day (https://youtu.be/G2JH-Yc6F8w?si=WCrvlFMuY0dRW1WF)

1. Pack Smart

Using the right packing supplies is one of the easiest ways to protect your belongings during a move. Invest in sturdy moving boxes instead of relying on used grocery or liquor store boxes, which may not hold up under heavy loads.

Wrap fragile items with packing paper, bubble wrap, or even household linens like towels and blankets. Plates and glassware are less likely to break when packed vertically instead of stacked flat.

Keep boxes at a manageable weight. If a box is difficult to lift, divide the contents into two smaller boxes. Label every box clearly with its contents and the room where it belongs. It’s also helpful to mark boxes containing fragile items so your movers know to handle them with extra care.

Pack one box with essentials such as bedding, towels, phone chargers, toiletries, medications, and a change of clothes, so you have everything you need for your first night without searching through dozens of boxes.

2. Prepare Your Family

Moving day can be hectic, especially with children and pets. Teach children your new address and phone number, and keep important documents, medications, and valuables with you instead of loading them onto the moving truck.

If possible, arrange for pets to stay with a friend or family member during the move. The constant activity and open doors can be stressful and increase the chance of a pet escaping.

Before plugging in electronics at your new home, allow them to reach room temperature, especially if they’ve been transported in extreme weather.

If you’re trying to reduce moving costs, consider selling or donating items you no longer need before packing. Fewer belongings mean less to move and organize.

3. Work Closely with Your Movers

Good communication with your moving company can help prevent misunderstandings. Provide your movers with your current phone number and email address so they can easily reach you if needed.

Review your moving inventory and Bill of Lading carefully before signing. Ask questions if anything is unclear, and keep copies of all paperwork until your move is complete.

If you’re planning a long-distance move, ask whether your belongings will remain on the truck or be stored temporarily in a warehouse. If storage is necessary, ask about the facility’s security, organization, and cleanliness so you know your belongings will be well protected.

4. Don’t Forget About Your Home’s Security

One important task that often gets overlooked is securing your new home. Even if the previous owners returned all their keys, there’s no way to know how many copies were made over the years.

Hiring a professional locksmith to rekey or replace your locks shortly after moving in gives you peace of mind and helps ensure that only your family has access to your home. A locksmith can also inspect your existing locks, recommend security upgrades if needed, and duplicate keys for family members.

If you’re moving out of a home you’re selling, a locksmith can also help if keys have been lost, broken, or need to be replaced before closing.

Final Moving Checklist

Before moving day arrives, take a few minutes to confirm your plans:

Label every box with its destination room.
Pack an essentials box for your first 24 hours.
Keep valuables and important documents with you.
Confirm arrival times with your moving company.
Arrange care for children or pets if possible.
Schedule utilities to be connected at your new home.
Consider hiring a locksmith to rekey or replace your locks soon after moving in.

A successful move starts with good planning. By staying organized, communicating with your movers, and taking a few extra steps to secure your new home, you can make the transition easier and start enjoying your new space right away.

If you’d like, I can also optimize this article for SEO by incorporating keywords such as moving tips, residential locksmith, rekey locks after moving, or locksmith near me naturally throughout the text.

May 22

Tips for Getting Your Cleaning Deposit Back

Intro

Your apartment is your favorite place to come home to every evening. However, there will come a time when you have to move out. Let us take a very close look at some tips for getting your cleaning deposit back.

Start Early

First and foremost, you must get a head start on cleaning up. There’s nothing worse than procrastinating on the task and panicking the day before you have to move out. You should start at least a week in advance and preferably more. At the very least, you’ll be able to assess the situation and determine what parts of the property need deep cleaning. The bottom line is, you don’t know exactly how much you need to clean until you begin. You know that the area behind the refrigerator is dirty, but just how much grime has accumulated is unknown until you move the appliance out. You need to prepare for the worst-case scenario.

Use Vinegar

Out of all the chemicals in your cupboard, vinegar is your best friend. When there are stains on your walls or showers, sprinkle a little vinegar and wipe it down with water. You’ll find that almost any stain can be eliminated with this method. Vinegar isn’t only good for tackling stains. You can apply it to any surface that is a little musty to freshen it up. If pure vinegar is too strong, you can mix it with water or other cleaning supplies. Nevertheless, remember that vinegar is cheap and a universal solution.

https://youtu.be/MwTvLEmf9XA?si=kwD-JfqFl4eeN7Bn

7 Ways to Clean with Vinegar! (Clean My Space) (https://youtu.be/MwTvLEmf9XA?si=kwD-JfqFl4eeN7Bn)

Scrub Regularly

Last but not least, scrubbing regularly will solve so many issues from the start. It’s a mistake to think that you can scrub down the whole place in the end and make it as good as new. Although this is probably possible, it will take so much more effort as opposed to scrubbing regularly. When you scrub your apartment weekly, stains don’t have a chance of fully developing. You’re also stopping any dirt or debris in their tracks before they can overflow on your floors. It’s not a bad idea to make a scrubbing schedule and post it to your refrigerator door.

Hire Help

If you don’t have the time to clean yourself, consider hiring professional help. It can be surprisingly affordable to hire a service such as a professional carpet cleaner. It will certainly cost less to hire someone yourself than what the landlord would charge you.

Conclusion

When all is said and done, these are some great tips for getting your cleaning deposit back. That money is not insignificant, and it should be on your mind as you’re approaching your move-out date. Clean up beforehand and receive a full refund on the deposit!

ATR022724

Apr 07

3 Popular Choices for Backyard Deck Materials

It can be a daunting task to choose the right patio materials. You have to consider the weather, durability, resistance to insects, and cost. However, you don’t have to worry about yourself as this article explains the popular choices for your backyard deck materials.

Redwood and Cedar

Redwood and cedar are some of the popular decking materials available in the country. The tannins and oils available in both species make them naturally resistant to decay, rot, and insects. Also, they pose a rich color that makes them naturally beautiful.

The resistance of these decking materials to bugs and weather elements would depend on the amount of heartwood or sapwood used. Heartwood is relatively resistant and is located closer to the center of the tree. On the other hand, softwood grows to the outside of the tree and is associated with knots. Since they are softer, they are more susceptible to decay.

An annual power washing and a coat of sealant would ensure the maintenance of the decking materials. Protecting the wood’s surface from checking and weather elements would involve applying a clear wood preservative with water repellent. A semi-transparent stain would ensure that the wood maintains its natural color and does not turn to a silvery grey color.

Pressure-Treated Pine

Pressure-treated pine is an ideal type of decking material when you are looking for something inexpensive. It is fit for your deck when you suspect your patio to be vulnerable to insects and water. The chemicals used to treat the deck would repel insects and fungus away. These are some of the common problems people face, making it a common decking material.

Maintenance of the decking material is also easy. Even though it is pressure-treated, you will need to do an annual treatment of pressure washing, sanding, and sealing to make it last the next 30 years.

Composite Decking

Composite decking is made from recycled materials like plastic sacks and wood waste. Its use and popularity are fast growing due to its low budget and maintenance. Besides being resistant to weather and insects, it doesn’t need to be sanded or painted to maintain its look.

There is a wide variety of composite decks. It comes in different styles and colors. Depending on your choice, you can opt for the one that looks like wood or feels like wood. Special fasteners are important to those composite decks that are slippery and prone to mildew. They are also lighter, making them easy to carry and lift into places during installation.

The patio is an important part of the house. Improving it would increase the value of the house. Therefore, you will want to decorate the patio in your best interests and lifestyle. You should choose wisely the type of materials you use to make the patio. It is important to consider concrete patio cleaning and maintenance of your deck as well.

Nov 22

How to Select the Best Roofing Materials for Your Home

A roof is an essential part of the home that keeps you safe from various elements. When constructing a new house or planning to replace the roof, it’s crucial to understand how to choose suitable roofing materials.

There are various types of materials, and you need close attention when deciding on your best choice. Appropriate roofing materials offer just more than roofing and also add value to your home. They add a classic finish and make the house look beautiful.

Making the right choice will help you get a bang for your buck and enjoy a comfortable stay. Below are some of the best roofing materials for your home.

https://youtu.be/3bQPEEtWGKU

How to Install Roof Shingles | Ask This Old House (https://youtu.be/3bQPEEtWGKU)

Asphalt Shingles

Asphalt shingles are the most common type of roofing material. They come in various types. Asphalt doesn’t require much work, and you can install it yourself. They’re light and less costly compared to other materials.

Asphalt lasts for many years. The lifespan is between 15 to 30 years, and some go even for a more extended period. Most people prefer these types of materials, although they may not be environment-friendly due to asphalt. They can also wear out quickly when under harsh weather conditions.

Metal

Metal is a durable type of roofing material. You only need proper maintenance and care to last for more extended periods. The beauty of this type is that they reflect sun rays in the home and maintain low temperatures. They’re also fire and insect-resistant. You might experience a noisy environment during the rainy season. It’s best to note that metal materials are more expensive.

Wood Shakes

Wood shakes are made from redwood, cedar, or pine trees. They create a beautiful exterior of the home. Wood shakes are quick to root since they’re prone to various elements such as insects and mods. Such are costly and hard to install, and you may need to hire a roofing expert.

Slate

Slate materials are suitable for large houses of over 3,000 sq. Ft. They create a natural look to the home and are fire and insect-resistant. Slate saves you on cost since they require minimal repairs and maintenance. They’re also costly and cumbersome. You may need more support from a roofing contractor.

Tile

Tiles create a beautiful finish to the home. They’re robust, insect, moisture, and fire-resistant. Tiles respond well during temperature changes, making them energy efficient. They’re also expensive.

Solar Glass

Solar glass has a longer lifespan and comes with a lifetime warranty, boosting its rating and making it one of the homeowners’ best choices. They are cost-effective and also energy-efficient, although you’ll incur the high cost of installation.

Summary

The best choice of roofing materials will give you a quality roof and make your home have beautiful architecture. You’ll also keep off from constant repairs and maintenance, saving you more costs in the long run. Be sure to investigate roof cleaning methods when choosing your materials. Your major factor should be choosing materials that are energy efficient.

ATR041722

Sep 08

Top Choices for Roofing and Siding

Siding and roofing are, no doubt, the perfect way to add pomp and color to your abode. It is imperative to choose the most convenient option for you with many options in the roofing and sliding market. Not to underscore the importance of aesthetics, sliding material’s ability to resist water, versatility, and durability are key considerations to make.

Couple Looking At House

Most Popular types of Roofing and Siding

Wood

Wood is mostly used in bungalows and cottages as an exterior finish. Wood siding is durable and has an aesthetic appeal if looked after in the right way. A key point to note for wood lovers is that it requires a lot of maintenance to last long. Wood maintenance practices may include staining, chalking, and painting to prevent the harsh effects of adverse weather conditions and insect attacks. Well-maintained wood can last for up to a century. The market price for wood siding or roofing varies from $5 to $10 per square foot.

Stucco

Conventional stucco is a combination of cement, lime, sand, and water. In most stucco siding or roofs, a waterproof membrane and a galvanized metal sheet are layered over wooden walls before installing stucco. These measures are normally undertaken to create a good foundation for the stucco finish and protect the walls or roof ceiling.

Due to the rigid nature of stucco, cautious installation is required to prevent cracking. Properly installed stucco lasts for as long as the house exists.

Vinyl

Vinyl is one of the most common sliding materials thanks to its low cost, easy maintenance, and flexibility. The plastic nature of vinyl turns off most architects and designers, its design and color variety makes it a go-to option for most people. Vinyl requires little installation equipment and is available in most stores. The vinyl option is best for those who want a cheap and do-it-yourself siding or roofing solution. Since self-installation can come with technical mistakes, it is prudent to follow the manufacturers’ guide word by word.

Bricks

Brick roofing and siding have passed the test of time as convenient roofing and siding materials. It is mostly found in ancient cottages or colonial castles. The fired clay finish material comes in various dimensions and textures. Since bricks can absorb water, they require damp-proof paper between the house and the veneer. Properly installed brick roofing or siding can last a lifetime of the house. Bricks require high levels of labor, and thus their high cost.

Whatever material you choose, consider the long-term maintenance and cleaning.

ATR021523

May 20

Home Mortgage Interest Rate Timing

Less is more:

If you’re new to investing or real estate and don’t know the first thing about interest rates, here’s a good tip: the higher the interest rate, the more expensive it’s going to be. High interest rates mean you will have to pay back more on the money you borrow. Another good rule of thumb is that affordability increases if you use an adjustable rate mortgage (it’s easier to qualify this way). Of course, there will be a wide range of prices that you can choose from, depending on what kind of financing you choose. Home mortgage interest rate timing is not easy.

Not even the Fed knows for sure:

The Fed holds a considerable amount of power, but they can’t control everything. Home mortgage interest rates are affected by many unpredictable political, economic and social events. So there is no guarantee what direction interest rates will go, despite the forecasts of the experts. Therefore, make your financial decision based on where things are today including your budget, your needs and your future plans.

Locking in rates assures your lowest interest:

If you do decide you want to lock in at a certain interest rate, you will need to complete a loan application and send it to your lender as soon as possible. This must be done so that your commitment doesn’t run out before your loan is approved. Follow up and be se sure that the lender is receiving all of the necessary documentation. Get a property appraisal, which usually costs about $300 – $500, through your Lender as soon as possible.

Don’t obsess and miss a good real estate deal:

Although rising interest rates can create more problems for home buyers, waiting and hoping for low rates is not necessarily a smart move. You may end up paying a higher price when playing the home mortgage interest rate timing game. Also, refinancing is always an option in the event that interest rates come down.

Mar 30

Five Secrets to Buying the Best Home for Your Money

Do Not Make These Mistakes When Selling Your Home!

Mistake #1 — Pricing Your Property Too High:

Every seller obviously wants to get the most money for his or her product. Avoid these mistakes when selling your home. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price. This is one of the most damaging mistakes when selling you home!

Mistake #2 — Mistaking Re-finance Appraisals for the Market Value:

Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your REALTOR® for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.

Mistake #3 — Forgetting to “Showcase Your Home”:

This may be one of the worst mistakes when selling you home, but it is simple to avoid. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers.

Mistake #4 — Trying to “Hard Sell” While Showing:

Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don’t try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions.

Mistake #5 — Trying to Sell to “Looky-Loos”:

A prospective buyer who shows interest because of a “for sale” sign he saw, may not really be interested in your property. Often buyers who do not come through a REALTOR® are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate. This is one of the mistakes when selling your home.

Your REALTOR® should be able to distinguish realistic potential buyers from mere lookers. REALTOR®s should usually find out a prospective buyer’s savings, credit rating, and purchasing power in general. If your REALTOR® fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new REALTOR®.

Mistake #6 — Not Knowing Your Rights & Responsibilities:

It is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing.

Not being aware of the terms in your contract could cost you thousands for repairs and inspections and is one of the most serious mistakes when selling you home. Know what you are responsible for before signing the contract. Can the property be sold “as is”? How will deed restrictions and local zoning laws affect your transaction? Not knowing the answers to these kinds of questions could end up costing you a considerable amount of money. Do not make these mistakes when selling your home!

Mistake #7 — Limiting the Marketing and Advertising of the Property:

Your REALTOR® should employ a wide variety of marketing techniques. Your REALTOR® should also be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your REALTOR® is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch with many potential buyers.

Feb 03

Tips for Real Estate Investing

Be a Real Estate Investor!

When it comes to investing, everybody has certain goals and aspirations. However, we have found that there are certain guidelines every aspiring real estate investor needs to know Please see the tips for real estate investing below:

1. Compare Property Values and Rents:

Financial statistics only go so far; the best measure of a property’s market value is often the sale prices of nearby properties. The same holds true for area rents. A low price can often be justified by a reasonable rent; renters who can afford a high rent can afford to buy instead, so reasonably priced rent is a need.

2. Be Careful – Tax Laws May Change:

Don’t base your tax investment on current tax laws. The tax code is constantly changing, and a good investment is a good investment regardless of the tax code. Another one of the tips for real estate investing is finding the right property with the right financing. That is what you should look for as an investor.

3. Specialize In Something You Know:

Start in a market segment you know. Whether you focus on fixer-uppers, foreclosures, starter homes, low-down payment properties, condominiums, or small apartment buildings, you’ll benefit from experience by specializing in one aspect of investment real estate properties.

4. Know The Costs Going In!:

Know the financial statements inside out. What are operating expenses? What are loan payments? Vacancy costs? Taxes? What does the cash flow statement look like? These are key issues that must be addressed before making a solid investment.

5. Know Where Your Tenants Are Coming From:

If the last rent increase was recent, your tenants may be considering a move. If tenants have a short-term lease, they may be living there simply to attract unsuspecting buyers. It is also important to collect the tenants’ security deposits at closing.

6. Assess The Tax Situation:

Taxes are an integral part of successful real estate investing, and they often make the difference between a positive cash flow and a negative one. Know the tax situation, and see how it can be manipulated to your advantage. It may be a good idea to consult a tax advisor.

7. Investigate Insurance Coverage:

If seller’s coverage is based on lower-than-current replacement value, your insurance cost may increase when you pay a higher purchase price.

8. Confirm Utility Costs:

Ask the local utilities to verify recent utility expenses, especially if any of these costs are included in your tenant’s rent.

9. Consult Your Accountant:

Taxation is a key element of successful real estate investing. Find an accountant who is well-versed with the constantly evolving tax code is one of the important tips for real estate investing.

10. Inspect!:

Make sure that you always perform a thorough inspection of the property before buying it. Never, ever buy any property without at least examining the site. In all cases, hiring a professional inspector is a sound investment.

Jan 02

Real Estate Website Links & Related Topics

Each topic listed below contains real estate and real estate related useful links to valuable information websites and web directories.

Find a Real Estate agent or listing nationwide or search for International real estate resources – Locate a Home Mortgage lender in your city or state – Directory of multiple and/or general topic Search Engines – A great selection of Home Decorating, Furnishings, Gadgets, Improvement, Security, Safety, Gardening and Landscaping ideas. Find links to Building Design & Architecture plans websites.

Oct 23

Investing in Real Estate May Save You Money!

Lower Your Taxes:

Tax incentives for real estate investors can often make the difference in your tax rates. Deductions for rental property can often be used to offset wage income. Tax breaks can often enable investors to turn a loss into a profit.

For which items can investors get tax breaks? You could claim deductions for actual costs you incur for financing, managing and operating the rental property. This includes mortgage interest payments, real estate taxes, insurance, maintenance, repairs, property management fees, travel, advertising, and utilities (assuming the tenant does not pay them). These expenses can be subtracted from your adjusted gross income when determining your personal income taxes. Of course, these deductions cannot exceed the amount of real estate income you receive.

In addition to deductions for operating costs, you can also receive breaks for depreciation. Buildings naturally deteriorate over time, and these “losses” can be deducted regardless of the actual market value of the property. Because depreciation is a non-cash expense — you are not actually spending any money — the tax code can get a bit tricky. For more information about depreciation and various tax alternatives, ask your tax advisor about Section 1031 of the U.S. Tax Code.

Seek advise from your Income Tax advisor or a CPA regarding the above information before beginning your investing in real estate program!

Have a Positive Cash Flow:

There are two kinds of positive cash flows: pre-tax and after-tax. A pre-tax positive cash flow occurs when income received is greater than expenses incurred. This sort of situation is difficult to find, but they are usually a strong and safe investment. An after-tax positive cash flow may have expenses that outweigh collected income, but various tax breaks allow for a positive cash flow. This is more common, but it is generally not as strong or safe as a pre-tax positive cash flow.

Regardless of what kind of real estate you choose to invest in, timely collections from your tenants is absolutely necessary. A positive cash flow — whether it is pre-tax or after-tax — requires rental income. Be sure to find quality tenants; a thorough credit and employment check is probably a good idea.

Use Leverage:

One of the most important factors in determining a solid investment is the amount of equity you are purchasing. Equity is the difference between the actual worth of the property and the balanced owed on the mortgage.

Benefit from Growing Equity:

While investing in real estate is relatively complex, it is often worth the extra work. When compared to other financial investments, like bonds or CD’s, the return on investment for real estate purchases can often be greater.

The key to investing in real estate is equity. Determine an amount of equity that you want to achieve. When you reach your goal, it’s time to sell or refinance. Determining the proper amount of equity may require the assistance of a real estate professional.

Sep 09

Buyers & Brokers get Creative to Compete in a Hot Western Market

Housing around Western Washington is on an upward trajectory, but inadequate inventory “in the right prices and locations” makes for a “very difficult market for purchasers and brokers,” according to an executive with one multi-office real estate company.

New figures from Northwest Multiple Listing Service show inventory increased in May compared to a year ago, but brokers say competition is keen. “Multiple offers and escalation clauses occur on a regular basis for properties that are extremely well priced and in great condition,” reports Dick Beeson, principal managing broker at a real estate brokerage franchise in Tacoma, Washington.

Mike Gain, a former chairman of the Northwest MLS board of directors, also commented on the bidding wars. “We are experiencing more multiple offers than I have experienced in my 35 years of practicing real estate in this marketplace,” stated Gain, the president and CEO of a real estate brokerage in Seattle, WA. “This is a very difficult market for purchasers, our agents and brokers. If we had inventory to handle the demand our pending and sold numbers would be greatly increased,” he believes, adding, “We desperately need good quality inventory.”

Last month’s pending sales topped the 10,000 mark for the first time in twelve months. The number of mutually accepted offers totaled 10,373, outgaining a year ago by 328 transactions for an increase of almost 3.3 percent. Last month’s total was the highest volume of pending sales since June 2006 when brokers tallied 10,448 transactions.

With demand outpacing supply in many parts of the region, brokers are noticing more creativity among competing parties. “Offer review deadlines have become pretty commonplace in this market, as have pre-inspections,” said OB Jacobi, president of Windermere Real Estate. He said some agents and buyers are getting even more aggressive by submitting their offer prior to the deadline.

Jacobi said there’s also an increase in the number of cash buyers, and buyers willing to waive their financing contingency, “making it even more difficult for the vast majority who don’t have this option.” With ongoing competition likely to continue, Jacobi expects agents and buyers to be “increasingly creative until the market becomes more balanced, which probably isn’t going to happen any time soon.”

MLS figures show months of inventory slipped to 3.33 from April’s figure of 3.46. In King County, supply stayed about even with April (1.78 months of inventory in May versus l.74 months in April). Snohomish slipped from 2.47 months to 2.37. Four to six months is considered to be a balanced market.

Fewer sales closed last month compared to a year ago (down 2.2 percent), but prices increased. Compared to April, the number of completed sales in May jumped by 997 transactions for a gain of 16.1 percent. Brokers reported 7,187 closed sales of single family homes and condominiums last month with a median selling price of $285,000. That sales price reflects a 3.6 percent increase from the year-ago figure of $275,000.

For single family homes (excluding condos) the area-wide price rose 4.2 percent, increasing from $285,000 to $297,000. Condo prices jumped nearly 15% from the year-ago price of $200,000 to last month’s price of $229,900.

Brokers added 12,605 new listings to inventory during May, about 10 percent more than a year ago. At month end, the selection across the 21 counties served by Northwest MLS included 23,917 active listings. That total reflects a 9 percent increase from twelve months ago when buyers could choose from 21,943 homes and condominiums.

In several counties served by Northwest MLS distressed properties make up about 20 percent of the activity, according to an analysis by Beeson. His figures show one of every five homes that sold in Pierce, Thurston, Kitsap and Cowlitz counties was distressed, while in King County such properties accounted for only around 10 percent of the sales.

Beeson, a board member at Northwest MLS, expects distressed properties will continue to be an integral part of the market. As median prices continue to rise around Puget Sound, he believes the inventory of short sales will be reduced.

“The inventory of bank owned properties holds steady at twice the number of short sales,” Beeson reported, adding, “This probably will not change in the foreseeable future as banks have warehoused much of their ‘shadow inventory’ and are slowly bringing it on the market so as not to glut the market, and to help keep pricing levels up, which benefits them as well.”

Another MLS director, George Moorhead, characterized the market as “sluggish” in areas. Buyers are about “45 days later to the starting line” compared to patterns of the past three years. “Some areas are still doing extremely well and still seeing multiple offers, but not on the whole,” observed Moorhead, the managing broker at a real estate office in Bothell, Washington. Overall, he believes “the market is righting itself slowly and becoming healthy and sustainable.”

Snohomish anomaly

Inventory in Snohomish County jumped 43 percent compared to a year ago. Asked about the surge, Moorhead attributed much of it to an influx of new construction. The MLS database shows 406 of 2,206 listings of single family homes are classified as new construction. That’s about twice the number from a year ago. “The price points are some of the best in the market areas for size, style and overall location,” Moorhead stated.

Kitsap: Different segments tell different tale

Like many areas, Kitsap County has several submarkets. “Using a countywide statistic in this market is much like judging a book by its cover – you shouldn’t,” suggests MLS director Frank Wilson, the branch managing broker at a brokerage in Poulsbo, WA. “Each part of Kitsap is its own chapter with a story to tell,” he explained.

Overall, Kitsap’s inventory is holding at about a four-month supply, “just on the sellers’ side of neutral,” Wilson said. Traffic at open houses is up, and more listings are drawing multiple offers and offers with escalation clauses, he added.

Prices in Kitsap are down about 4 percent, but of 19 areas the Northwest MLS tracks in that county, 10 had year-over-year price gains, and nine map areas had declines. The sharpest price increase occurred in East Central Kitsap where values jumped 20 percent from twelve months ago.

Rosy outlook

Despite inventory shortages, Northwest MLS brokers were mostly upbeat about short-term activity:

“Locally, the summer selling season can be the busiest time of the year. This year with the lack of inventory it is probably the best market sellers will ever experience,” suggested Mike Gain.
“We anticipate the market remaining at modest levels of growth [in Snohomish County] and inventory levels continuing in a healthy range of seven to eight months instead of two to three months.” — George Moorhead.
“In almost every county, inventory increases since last year have brought a sigh of relief from many buyers . . . If interest rates continue to hold under 5 percent and the unemployment picture continues to improve or remain the same, we should see a moderate to strong market throughout the balance of 2014.” – Dick Beeson.

MLS spokespeople encouraged potential sellers to consider listing now. “Now is a great time for move up sellers/buyers who can sell their homes quickly today and secure another at today’s prices and today’s low interest rates,” Gain suggested. He also noted the majority of homeowners have experienced significant gains in their equity over the past two years. “Sellers who took their homes off the market in the down market can now get the prices they were wanting when they made their decisions to rent them. The prices are back and the homes will sell,” he emphasized.

Wilson urged sellers to make sure their home is exposed “to as many real estate brokers from as many real estate firms as possible to ensure all buyers in your area and price point have a chance to make an offer on your home.”

Buyers also need to be prepared, Wilson suggested. In addition to being fully approved for financing a mortgage before making an offer, buyers need to be mindful that their offer “may not be the only one being tendered to a seller” and be poised to respond.

Jul 20

Local, County & State Government Information

These links are provided to assist you in gathering detailed information about the area or region where you may be thinking of buying a home. Each of these websites have LINKS to local services in their respective communities such as: Schools, Hospitals & Medical Care, Libraries, Parks and Recreation, Fire Departments and Economic Development.