Is Now the Time to Buy?
I know all the talk about interest rates rising can seem overwhelming or make it feel like it isn't the "right" time to buy. But here's an interesting scenario to consider...
Let's say you were eyeing a home priced at $1M last year.In the competitive frenzied market, it's likely you would have had to bid the home up substantially AND waived your contingencies to even have a shot.So, let's say you were able to get that home for $1.3M instead of $1M with a 4.5% interest rate, but you had to also waive your inspection to do so...
Flash forward to today and let's say you could get the same home for that initial $1M price tag, but at the new rate of 6.5%. PLUS you could have an inspection contingency AND not have to waive your appraisal.
Now, here's the kicker, what if I told you that your principal and interest each month would actually be LESS TODAY at the higher interest rate? True story.
The higher inventory we are seeing is making the market less competitive which means it is a great time to snatch up a home without all the competition and without having to bid over list price.When rates go down, which they are predicted to do, you can refinance down to the lower rate.
The moral of the story here is this: though rates are higher today, competition is less. Don't wait to buy until rates go down and competition is high again.Get in now competition free and start earning equity ASAP!
Special thanks to Ryan Niles and team for this infographic below! If you are curious about buying in this market, please reach out to me or him and we'll get you on the road to home.
Fun News!
I am so excited to unveil my new logo today!
Though I loved the old branding, it was time for a refresh and something that was a little more home inspired. Thanks to all those who weighed in with their thoughts and extra special thanks to my design team at Esperluette Creative for making this shine! Check us out at www.lghomesnw.com to see more.
Market Report: October
Happy Fall! September's real estate stats are in and frankly they aren't as alarming as the media would make them seem.
Yes, interest rates are up higher than we've seen in a while, but you'll see here that the median sales price is also up from last year as is the supply of inventory - up 200% in Snohomish County. While that may seem like a crazy number, it is still not in a territory where we would consider it a balanced market or even a buyer's market. That said, a jump in inventory like this does give buyers more options and creates a less competitive environment. Contingencies are becoming the norm once again - hooray!
Now, here's the deal, if you've been thinking of buying, but are scared by interest rates, consider this: When you pay rent, all of your money is going to someone else's asset and someone else's equity. Wouldn't it be better to put only a small percentage of your money toward interest each month and own your home so YOU can start building equity and YOU can be the moneymaker and not your landlord?
Think of it this way too...you don't have to be married to your interest rate. You're just dating your rate until you can refinance when rates go down. There is opportunity as a buyer in this market for closing cost credits, interest rate buy downs and even inspection negotiations. Don't let this kind of market slip away from you if you've been hesitating to jump in. Let’s get you on the road to homeownership NOW!
Happy Clients
The BEST part of my job is knowing my clients are happy with the end result. Purchasing a home strictly as an investment and managing tenants can be a stressful endeavor. So thrilled for these sellers that they can now move on to their next adventure. Thank you for the glowing review, Trisha and Joshua! The pleasure was all mine.
Market Shifts
It's been a minute since I posted our monthly stats. Not because I didn't think they were important, but because I simply wanted to wait until there was a noticeable difference to show. Prior to the market shifting, I was beginning to feel like a bit of a broken record!
Fast forward to today and inventory is up to a 2 month supply in both King and Snohomish counties. While this is still a bit away from a balanced market, the added inventory is a welcome change to give buyers more options and cool bidding wars down.
You'll notice here for both counties that while days on market are up slightly, so is the median price. The sky isn't falling! What we are experiencing is a return to a more "normal" market. The market frenzy we had been in wasn't normal by any means. Prices just shouldn't be rising that fast and you shouldn't have to forfeit all your contingencies in order to buy a home!
In today's market, contingencies are feasible and closing cost credits are more likely. If you've been considering buying, but were fearful of the competition, this market is for you! Let's connect about how we can get you into a home now to start earning equity today.
That’s a Wrap!
That's a wrap! Two happy sellers on the same day. Congratulations to you both on your next chapter!
Though there is a bit more inventory available, bidding wars have cooled, and rates are slightly higher these days, homes are still moving quickly. Case in point: these two flew off the shelves in just a couple of days. With proper pricing and excellent presentation, buyers will be knocking on your door.
Don't let the market hype fool you, you can still find great success in this market as a seller! With my team by your side, you can rest assured we'll do everything we can to make your home shine above the rest. (Staging? Yes, please. Landscaping? Sure, we've got you. Professional cleaning? Absolutely. Professional photography and video? Of course.)
What are you waiting for? Give us a shout and let us put our team to work for you to get your home sold.
SOLD: 2015 Built Home
I am thrilled to announce the sale of this Phinney Ridge beauty!
I was lucky enough to represent these out of state clients twice - once when they purchased the home as an investment and again when it was time to sell. Being out of state can be stressful for a seller, but my full service approach takes all the prep off your plate. Just hand me the keys and I'll get the ball rolling!
For this home, we needed to tackle some extensive interior clean up throughout once the tenants had moved. But after an entire repaint, thorough professional cleaning and refresh of the landscaping, it was ready to stage and presented beautifully for sale! Congratulations, Trisha and Joshua!
New to Market: Picnic Point (Copy)
Open House Weekend
Saturday, August 20th from 11:00am-2:00pm
and Sunday, August 21st from 11:00am-2:00pm
Dearborn Park
Set along a treed edge of Dearborn Park, this Beacon Hill home has been lovingly maintained w/great updates done for you: all new plumbing throughout, stainless steel appliances, a new front fence and efficient mini splits for A/C. An open layout highlights hardwood floors, a gas fireplace and updated kitchen with granite and gas cooking. Three generously sized bedrooms, a rec room and two flex rooms offer you more than enough space for the modern life at home. Enormous laundry room has tons of additional storage. Relax on the deck or tend to your veggies in the garden beds. Fully fenced yard plus two off-street parking spaces. Set close to the Chief Sealth Trail, light rail, dining and shops with easy access to downtown.
5331 28th Avenue S | Seattle, WA 98108
3 Bedrooms • 2 Bathrooms • 2,080sf
Offered at $799,000
Price Adjustment: Developer’s Dream
We have an exciting new price to share for this rare lot in Northgate. Now listed at $875,000!
Calling all builders and developers! Incredible opportunity to build on a rare shy half-acre, flat in-city lot. Fantastic Northgate location just down the road from new light rail and NHL practice arena! Established fruit trees and a pond on the lot make this a tranquil location to build your dream home or homes! Currently there are two 2 bed/1 bath fixer uppers located on the property, both with utilities in place and separate gas/electric meters. Detached 2-car garage includes shop area w/ a wood stove. Private location w/ driveway already installed and a shed. Water, sewer, gas and electric already on property. Unbeatable location and immense value! Sold as-is with a short plat underway.
Creating Mosquito-free Outdoor Spaces
Imagine curling up in your new backyard with a glass of wine or a cup of cocoa to enjoy the summer evening. You put your feet up, watching the sprinklers going and the solar-powered sparkly lights turning on. Then they come: mosquitos. Mosquitos everywhere.
There are a myriad of plants that you can add to your backyard that mosquitos completely avoid, and thus avoiding you as well. And the plus? They can beautify your yard and even produce fruit! Catnip, citronella and lavender - to name a few - will keep the mosquito population down, beautify your yard and create a space that smells amazing!
New to Market: Picnic Point
Open House Weekend
Saturday, August 13th from 11:00am-2:00pm
and Sunday, August 14th from 12:00pm-2:00pm
Picnic Point
Looking for the perfect Picnic Point spot? This is the one! A thoughtfully laid-out floor plan maximizes every square foot and bathes in all-day light, highlighting fresh paint throughout, vaulted ceilings, bamboo floors, gas fireplace, open living spaces and a nicely updated kitchen with granite, stainless appliances and eating area. Three spacious bedrooms include a primary with walk-in closet & en-suite full bath with new floors and sinks. Move in with peace of mind thanks to recent upgrades: new water heater and skylight, new fence in 2021 and new roof/gutters in 2019. Roomy, fully fenced lot with deck and established gardens. Serene location close to parks, trails, beaches, great Mukilteo schools and amenities! No HOA.
14605 54th Place W | Edmonds, WA 98026
3 Bedrooms • 2.5 Bathrooms • 1,904sf • Built 1997
Offered at $789,000
SOLD: Fircrest Living
Fircrest Living
Gushing w/original charm & tasteful updates, this adorable Fircrest home is sure to steal your heart! Large windows fill the open main floor w/light, highlighting hardwoods, living room with gas fireplace, kitchen w/granite counters & gas cooking, a spacious primary bedroom & full bath w/heated tile floor. Upstairs, find 2 extra bedrooms, a full bath & flex bonus room great for crafts, work or play! Heat pump for A/C & storage galore. Tranquil backyard includes a large Trex deck, paver patio, water feature, stunning gardens, sprinklers & a huge detached 2-story garage w/shop space. Set on a quiet street & tucked down a long stamped concrete driveway w/ apple trees & mature landscaping. Conveniently close to everything!
1037 Princeton Street | Fircrest, WA 98466
3 Bedrooms • 2 Bathrooms • 1,954sf
Offered at $650,000 | Sold at $655,000
SOLD: Resort Style Living
Resort-Style Living
Resort-style living could be yours in this fabulous 2 bed/1.5 bath lake view unit at the coveted Sixty-01 community! Stylish & thoughtful details are found throughout this chic townhome, including bamboo floors, private deck, in-unit laundry, fresh paint throughout and a sleek kitchen boasting stainless appliances, new range, quartz counters and ample storage. Invest smart thanks to no rental cap, a designated carport and storage, security services and a well-run HOA. This coveted community has it all: trails, pool, gym, sports courts! All the amenities of both Redmond and Kirkland are within minutes. Easy commute in any direction w/ nearby freeway, transit and future light rail access. FHA approved!
6640 137th Avenue NE #501 | Redmond, WA 98052
2 Bedrooms • 1.5 Bathrooms • 1,060sf
Offered at $479,000 | Sold at $560,000
Hot New Price: 2015 Built Home
We've got some news...
This modern 2015 built home in Seattle's Whittier neighborhood has a hot new price!
Now listed $100,000 less at $1,395,000, this home is sure to impress.
And visit us for an open house Saturday and Sunday from 12:00-2:00pm to see it before it's gone!
Perfectly nestled between Phinney Ridge and Ballard, this modern 2015-built home checks all the boxes! Sunlight pours into open living areas to highlight the spacious living room with gas fireplace and dual sliders plus a large dining room. Whip up meals with fresh ingredients from nearby Ken's Market in the sleek chef's kitchen complete with gas cooking, quartz counters and a breakfast bar. All three bedrooms are upstairs, including the primary suite with vaulted ceilings, walk-in closet and 5-piece bath with giant walk-in shower and tub. Efficient systems, upper level laundry, all new paint and built-in vac all included! Fully-fenced yard offers a sunny patio with room to BBQ & relax plus access to the off-alley detached garage. Stroll to great dining, parks, schools and more!
7309 3rd Avenue NW | Seattle, WA 98117
3 Bedrooms • 2.5 Bathrooms • 2,220sf • Built 2015
Offered at $1,395,000
New to Market: 2015 Built Home
2015 Built Home
Perfectly nestled between Phinney Ridge and Ballard, this modern 2015-built home checks all the boxes! Sunlight pours into open living areas to highlight the spacious living room with gas fireplace and dual sliders plus a large dining room. Whip up meals with fresh ingredients from nearby Ken's Market in the sleek chef's kitchen complete with gas cooking, quartz counters and a breakfast bar. All three bedrooms are upstairs, including the primary suite with vaulted ceilings, walk-in closet and 5-piece bath with giant walk-in shower and tub. Efficient systems, upper level laundry, all new paint and built-in vac all included! Fully-fenced yard offers a sunny patio with room to BBQ & relax plus access to the off-alley detached garage. Stroll to great dining, parks, schools and more!
7309 3rd Avenue NW | Seattle, WA 98117
3 Bedrooms • 2.5 Bathrooms • 2,220sf • Built 2015
Offered at $1,495,000
SOLD: the Jade Residences in Kirkland
SOLD! Congratulations to my buyer on the purchase of his brand new condo at the Jade Residences in Kirkland. If you're looking for new construction on the eastside, Totem Lake has SO much to offer and there are still a handful of units left. Wishing you all the best in your new home!
Congratulations to my buyer on the purchase of her new construction townhome!
This sale came with lots of hurdles to jump through and she stuck it out like a champ for nearly a year.
If you are looking to buy brand new when ground is just being broken, please know that the process can be long and daunting with many delays in today's world. Supply chain issues, a concrete strike, staffing shortages, and weather delays put this one a few months behind schedule. As interest rates begin to rise, it's also important to remember that the rate you see when you make your offer, will most likely not be the same one you see when you are able to finally lock your rate. If the process gets delayed, you'll also want to prepare for rate lock extension fees and the potential of a different monthly payment than you may have been planning on. Having a great lending partner when buying is always key, but especially in new construction to help you navigate and adapt along the way. Thank you to Ryan Niles-Mortgage Advisor and Realtor Business Strategic Partner. and team for keeping this one together!
New to Market: Fircrest Living
Fircrest Living
Gushing w/original charm & tasteful updates, this adorable Fircrest home is sure to steal your heart! Large windows fill the open main floor w/light, highlighting hardwoods, living room with gas fireplace, kitchen w/granite counters & gas cooking, a spacious primary bedroom & full bath w/heated tile floor. Upstairs, find 2 extra bedrooms, a full bath & flex bonus room great for crafts, work or play! Heat pump for A/C & storage galore. Tranquil backyard includes a large Trex deck, paver patio, water feature, stunning gardens, sprinklers & a huge detached 2-story garage w/shop space. Set on a quiet street & tucked down a long stamped concrete driveway w/ apple trees & mature landscaping. Conveniently close to everything!
1037 Princeton Street | Fircrest, WA 98466
3 Bedrooms • 2 Bathrooms • 1,954sf
Offered at $650,000