February’s Home Connection
Tag Archives: Home selling
The Home Connection for May
Snohomish County Statistics December 2017
December is known for being on the cold side and a sign of a slowing Real Estate market as everyone starts to enjoy the holidays. Not this year however! December was smoking hot. A new record of 16 days inventory pushed buyers to snatch up everything they could and quickly.
Active Inventory
-2% December 2017 vs. December 2016
781 available homes currently on market -347 vs. last month.
Pending Transactions
-4% December 2017 vs. December 2016
1255 units -336 vs. last month
Sold Transactions
+12%!!! December 2017 vs. 2016
1516 units +101 than last month
Days on Market
Snohomish County Active to pending 34 days vs. 39 a year ago. Up 4 days from last month (normal with the holidays).
Median home price in Snohomish County 448,000 +12% last year. Up $4,000 from last month.
Area price % based on last Quarter
All percentages are up and also include new construction
Bothell + 20%, Edmonds/Lynnwood +15%. Everett/Mukilteo +10%
Snohomish/Monroe+ 17%. Lake Stevens/Granite Falls + 15%. Marysville +13%
King County Median home prices are $611,000 + 15% over last year and up $27k from last month.
Woodinville area Median price is $678!!
Of the more than 3,100 counties across the U.S., none saw a bigger net increase than Pierce and Snohomish in movers from other counties. Is this a reflection of people being priced out of King County?
Weekly Real Estate Awesomeness
REAL ESTATE news
Latest report from the NWMLS
Why it’s now an empty nesters housing market
When buyers cannot afford Seattle most head north into Snohomish County therefore we keep a close eye on the housing market all over and these stories paint a clear picture of why so many are moving this way.
Seattle’s scorching housing market positions it as a city on the rise.
What’s it like to buy and sell in Seattle’s crazy market
Prices soar leading some to give up
Boarded up house in Ballard lists for $595K!!
MORTGAGE & FINANCE news
Crowdfunding your down payment: a new way to buy a home?
3 steps to figure out how much mortgage you can afford
HOME trends
Modern backyard cabin is an urban oasis
5 most popular landscape design trends for fall 2017
City of Seattle begins work on a proposal to encourage development of backyard cottages
Make it a great week.
Jen Murrweiss- www.snohomishcountyhomesinc.com
Exquisite NEW Listing you must see!
Come and see this incredible new listing in the Snohomish School district. Close to all amenities including Mill Creek town center, Historic Snohomish and Boeing.
8/26/2017 from 1-4 11329 47th Ave SE Everett, WA 98208
Wire Fraud in on the rise
If you are refinancing, purchasing or selling this is a must read. I tell all my clients to call me first and double check if they get any suspicious email or phone call. Do not let this happen to you!
The Home Connection for May
Welcome to February’s Home Connection
Why, what’s the matter,
That you have such a February face,
So full of frost, of storm and cloudiness?
– – – William Shakespeare “Much Ado About Nothing”
Do not have a February face! Get out and enjoy all the great happenings and with this months newsletter on events, tips and eye on the market how could you not!
Curious when the best time to buy a house is?
You’re not alone.
As a Realtor, one of the questions I hear most frequently is, “When is the best time to buy a house?”
The answer is simple – the best time to buy a house is the right time for you.
That being said, the housing market does experience some seasonal patterns. Traditionally, folks don’t want to move during the holidays and they desperately want to get into a better school district prior to school starting.
This means inventory is typically low during the winter and demand is often high during the summer. While inventory has a tendency to peak during August, buyers who have been on the hunt for a substantial amount of time begin to experience fatigue.
By the time fall rolls around, many house hunters have given up and signed a lease or decided to stay in their current home for another year. In fact, the Seattle area housing market has gone like gangbusters from January through July of this year. Homes were flying off the market. Bidding wars were common. Buyers were waiving inspection and guaranteeing earnest money.
There was a tapering off in August. Bidding wars became less frequent and listed homes received fewer offers. Now that we have hit fall, the competition has dropped even further. Yet, interest rates still remain at record lows.
As a potential buyer, this is great news. With low rates and less competition, you have more choices. Doesn’t fall sound like a good time to buy a home?
Ready to find a home? I can guide you to great lenders, programs that fit your budget and of, course, find you a home. Contact me today!
Do you know about an exemption that can save you money when you sell?
TAX TIP: The 121 Exemption When Selling Your Home
The reason to do a 1031 exchange is to avoid capital gains taxes on investment property. Almost once a week I get asked about the sale of a primary residence. When you sell your home, you have an exemption from most capital gains taxes. A great resource to get more details about that is an IRS Publication, updated annually, called Selling Your Home (Pub 245). You could go to IRS.gov to download that.
In short, there is a 121 Exemption for capital gains taxes up to $250K per individual or $500K per married couple filing jointly. You do have to have lived in the property as your primary residence for 2 out of the last 5 years, and you can only take this exemption, once every 2 years.
This has been used in a long term strategy to avoid paying capital gains on rentals by converting the property from investment to primary residence. The IRS got wise to this strategy and put some constraints on this.
It could still be part of a plan, but reach out to your tax advisor with questions and see if this is an option for you
Jen Murrweiss RE/MAX Elite 