Monthly Newletter April 28, 2025

Monthly Newsletter 04/24/2025

As your trusted real estate advisor, my service to you is beyond the transaction of buying and selling real estate. Your home is your nest egg and often your most significant financial investment, requiring care and attention to maintain and protect it. An important aspect of protecting your home is your Homeowners Insurance Policy. In the wake of several natural disasters over the past five years, insurance carriers have depleted their reserves and had to recalibrate their risk management plans. Carriers have mitigated their risk by analyzing which areas of the country have the highest likelihood of claims, as well as which consumers have the highest claim rates.

The heat map below illustrates the rate of cancelled policies nationwide based on risk, weather patterns, and claims history. Beyond available coverage, it’s essential to understand the scope of your policy and the riders that accompany it. That is why it is essential to have an annual review with your insurance provider, ensuring you are adequately covered and updating your Replacement Cost Value (RCV) as needed.

Furthermore, some carriers are revising their policies, including the states in which they will operate and the products and materials they will insure. For example, in 2025 Safeco/Liberty Mutual will stop writing new policies for condominium, renters, and watercraft insurance in the state of California. This month, they are also capping umbrella limits to $1 million in some states, forcing renewals to lower that level if they had a higher coverage amount. No company is immune to these effects, so it is important to explore your options for the most complete coverage. It is also essential to review all mail from your insurance providers as renewals approach, so you don’t miss any significant changes.

Although I am not an insurance professional, I have connections to some credible insurance professionals who can help you better understand the changing climate. Join me on May 7th for a live webinar featuring a panel of experienced insurance professionals who will share their insights and expertise on today’s rapidly evolving homeowners insurance market.

Windermere North is proud to host this educational webinar, featuring Peter Hong of Allstate Insurance, Alex Busilacchi of Moreland Insurance, and Douglas Olsen of USI Insurance Services.

The first hour will be a guided conversation covering key points and will provide information to shed light on how the volatile environment affects you and the protection of your home. Then we will open up for a live Q&A so you can get your questions answered.

Click the link below to register and receive the Zoom link, or reach out and I can send the registration link to your email. Registration closes May 4th.

Clean air and spring cleaning go hand in hand this month. More allergens are floating around in the air this time of year, and you’ll want to prepare your home with a routine air conditioning tune-up before the temperatures rise.
Uncategorized April 17, 2025

South Snohomish County Market Report – Q1 2025

Year-to-date 2025, there have been more new listings than in 2024. After two years of tightly constricted inventory, this has been a welcome relief for buyers. Closed sales are trending up despite stubborn interest rates, and it is still a seller’s market with under two months of inventory. The increased selection has tempered the month-over-month price growth to typical historical levels versus the rapid uptick during the pandemic. Interest rates have decreased since last year and are expected to recede slowly throughout the year.

Delayed seller demand is starting to mount as some people are giving up their low rate to pivot to a home that better fits their lifestyle. With this increase, we anticipate more sustainable and stable price growth, which will rest on the shoulders of strong equity levels built over the last decade plus. Evaluating and applying the trends to your options will help you make informed and powerful decisions. Please don’t hesitate to reach out if you or someone you know would like to learn more, discuss goals, and create a winning plan.

 

Uncategorized April 17, 2025

North King County Market Report – Q1 2025

Year-to-date 2025, there have been more new listings than in 2024. After two years of tightly constricted inventory, this has been a welcome relief for buyers. Closed sales are trending up despite stubborn interest rates, and it is still a seller’s market with under two months of inventory. The increased selection has tempered the month-over-month price growth to typical historical levels versus the rapid uptick during the pandemic. Interest rates have decreased since last year and are expected to recede slowly throughout the year.

Delayed seller demand is starting to mount as some people are giving up their low rate to pivot to a home that better fits their lifestyle. With this increase, we anticipate more sustainable and stable price growth, which will rest on the shoulders of strong equity levels built over the last decade plus. Evaluating and applying the trends to your options will help you make informed and powerful decisions. Please don’t hesitate to reach out if you or someone you know would like to learn more, discuss goals, and create a winning plan.

 

Uncategorized April 17, 2025

Seattle Metro Market Report – Q1 2025

Year-to-date 2025, there have been more new listings than in 2024. After two years of tightly constricted inventory, this has been a welcome relief for buyers. Closed sales are trending up despite stubborn interest rates, and it is still a seller’s market with under two months of inventory. The increased selection has tempered the month-over-month price growth to typical historical levels versus the rapid uptick during the pandemic. Interest rates have decreased since last year and are expected to recede slowly throughout the year.

Delayed seller demand is starting to mount as some people are giving up their low rate to pivot to a home that better fits their lifestyle. With this increase, we anticipate more sustainable and stable price growth, which will rest on the shoulders of strong equity levels built over the last decade plus. Evaluating and applying the trends to your options will help you make informed and powerful decisions. Please don’t hesitate to reach out if you or someone you know would like to learn more, discuss goals, and create a winning plan.

 

Uncategorized April 17, 2025

Eastside Market Report – Q1 2025

Year-to-date 2025, there have been more new listings than in 2024. After two years of tightly constricted inventory, this has been a welcome relief for buyers. Closed sales are trending up despite stubborn interest rates, and it is still a seller’s market with under two months of inventory. The increased selection has tempered the month-over-month price growth to typical historical levels versus the rapid uptick during the pandemic. Interest rates have decreased since last year and are expected to recede slowly throughout the year.

Delayed seller demand is starting to mount as some people are giving up their low rate to pivot to a home that better fits their lifestyle. With this increase, we anticipate more sustainable and stable price growth, which will rest on the shoulders of strong equity levels built over the last decade plus. Evaluating and applying the trends to your options will help you make informed and powerful decisions. Please don’t hesitate to reach out if you or someone you know would like to learn more, discuss goals, and create a winning plan.

 

Uncategorized April 17, 2025

North Snohomish County Market Report – Q1 2025

Year-to-date 2025, there have been more new listings than in 2024. After two years of tightly constricted inventory, this has been a welcome relief for buyers. Closed sales are trending up despite stubborn interest rates, and it is still a seller’s market with under two months of inventory. The increased selection has tempered the month-over-month price growth to typical historical levels versus the rapid uptick during the pandemic. Interest rates have decreased since last year and are expected to recede slowly throughout the year.

Delayed seller demand is starting to mount as some people are giving up their low rate to pivot to a home that better fits their lifestyle. With this increase, we anticipate more sustainable and stable price growth, which will rest on the shoulders of strong equity levels built over the last decade plus. Evaluating and applying the trends to your options will help you make informed and powerful decisions. Please don’t hesitate to reach out if you or someone you know would like to learn more, discuss goals, and create a winning plan.

 

Uncategorized April 17, 2025

South King County Market Report – Q1 2025

Year-to-date 2025, there have been more new listings than in 2024. After two years of tightly constricted inventory, this has been a welcome relief for buyers. Closed sales are trending up despite stubborn interest rates, and it is still a seller’s market with under two months of inventory. The increased selection has tempered the month-over-month price growth to typical historical levels versus the rapid uptick during the pandemic. Interest rates have decreased since last year and are expected to recede slowly throughout the year.

Delayed seller demand is starting to mount as some people are giving up their low rate to pivot to a home that better fits their lifestyle. With this increase, we anticipate more sustainable and stable price growth, which will rest on the shoulders of strong equity levels built over the last decade plus. Evaluating and applying the trends to your options will help you make informed and powerful decisions. Please don’t hesitate to reach out if you or someone you know would like to learn more, discuss goals, and create a winning plan.

 

Monthly Newletter April 4, 2025

Monthly Newsletter 04/04/2025

As we head into Q2, I wanted to review preliminary Q1 stats in order to report the latest trends in the market. The spring market has sprung, and activity is positive on both the seller and buyer side. The two charts above show key market factors from two points of view, March 2025 over February 2025 (Month over Month, MOM) and Q1 2025 over Q1 2024 (Year over Year, YOY).  By looking at MOM, you can see the real-time progression of activity as we head into the busiest time of year in the real estate market, and the YOY look compares how 2025 is starting in comparison to 2024.

MOM new listings made a big jump up, days on market are shrinking, list-to-sale price ratios are slightly rising, and prices are maintaining and appreciating. Inventory remains tight despite the increase in new listings, with all six market areas sitting at a Seller’s Market (0-2 months of inventory). This indicates strong buyer demand that is absorbing the selection despite the slow decline in interest rates. We anticipate a strong spring market with more opportunity than 2024 provided for buyers, which is a welcome change.

The second chart shows that in Q1 2024, inventory was much more constricted in comparison to Q1 2025. The limited inventory last year created intense upward pressure on prices when rates were even higher than they are now. We are maintaining home values and growing at a slower pace than last year, which will be more sustainable. With affordability at an all-time low, this is good news for buyers. Sellers are still making incredible gains as price growth has been phenomenal over the last decade, and YOY, it is looking positive. With real estate being a long-term hold investment, many sellers are enjoying favorable returns when they decide to make a move.

Overall, the start to 2025 is taking on typical seasonal patterns. We have seen a quarter-point dip in interest rates, more selection, continued buyer demand, and sizable seller equity. If you are curious about how the trends relate to your real estate goals, please reach out. It is always my goal to help keep my clients informed so they are empowered to make informed decisions.

At press time, these figures accounted for the majority of March closings outside of the last two days. They still tell the story of the trends, so I was anxious to get them out. If you are on my physical mailing list, you will receive finalized numbers later in the month for your specific market area. Please let me know if you’d like to receive consistent quarterly reports, and I will add you to my snail-mail database.

You’re invited to our annual Paper Shredding Event & Food Drive. We partner with Confidential Data Disposal to provide a safe, eco-friendly way to reduce your paper trail and help prevent identity theft.

Saturday, April 19th, 10AM to 2PM (or until the trucks are full)
4211 Alderwood Mall Blvd, Lynnwood
Bring your sensitive documents to be professionally destroyed on-site. Limit 10 file boxes per visitor.

We will also be collecting non-perishable food and cash donations to benefit Volunteers of America Western Washington food banks. Donations are not required, but are appreciated. Hope to see you there!

>> This is a paper-only event. No x-rays, electronics, recyclables, or any other materials.

Join me on May 7th for a live webinar with a panel of experienced insurance professionals who will share their insights and knowledge about today’s ever-changing homeowners insurance market. In the wake of several natural disasters, including the LA fires, the insurance landscape is quickly changing, and being informed will help you protect your biggest asset!

Windermere North is proud to host this educational webinar, featuring Peter Hong of Allstate Insurance, Alex Busilacchi of Moreland Insurance, and Douglas Olsen of USI Insurance Services.

The first hour will be a guided conversation covering key points and will provide information to shed light on how the volatile environment affects you and the protection of your home. Then we will open up for a live Q&A so you can get your questions answered.

Click the link below to register and receive the Zoom link, or reach out and I can send the registration link to your email. Registration closes May 4th.

Big impact, bigger hearts. 💙 Thanks to our generous network, the Windermere Foundation distributed over $3.57 million in 2024, reaching a total of $56 million in donations!

We’re proud to share the 2024 Windermere Foundation Community Impact Report, highlighting how these contributions are making a difference for low-income and homeless families. Read the full report here.

Monthly Newletter March 15, 2025

Monthly Newsletter – 03/14/2025

Last month, my office invited a panel of insurance professionals to discuss the volatility of the Homeowner’s Insurance (HOI) market so we could learn the latest to best inform our clients. In the wake of several natural disasters, the LA Fires is one of the most recent, HOI companies have become much more scrutinous and expensive. The increase in natural disasters such as flooding, wildfires, hurricanes, earthquakes, landslides, tornadoes, and extreme cold snaps have accelerated losses and depleted their recovery funds. This has caused carriers to increase premiums, limit coverage, and, in some cases, cancel policies.

Hearing of the neighborhoods in the Palisades Fires that were canceled or not renewed by their carriers just weeks before the fires, motivated us to want to learn more to help educate our clients so they are equipped to be protected. After all, we help people secure their most significant asset; we want to empower them to protect it adequately as well. On the evening of May 7th at 6:30 pm, my office is hosting a virtual webinar event for our clients featuring the same panel of insurance professionals (see the link below to register; registration closes on May 4th). There will be two insurance brokers and one captive company agent from Allstate who will spend an hour answering questions about the current market.

For an hour, they will be led by a moderator to provide tips to ensure you are properly insured, highlight what to look for in your carrier’s contracts, explain which riders to a contract are most effective, and go over when it is appropriate to make an HOI claim and when you should not. All of this will help educate homeowners so they are empowered to make informed decisions about their coverage and costs and hopefully not find themselves in a situation like the victims of the LA Fires. We will then open it up for 30 minutes of Q&A and provide follow-up materials. I hope you can make it! Registering is easy with the link below, and you can also contact me directly to talk about the event and the topic overall.

In the meantime, here are a few things you can do now to evaluate your current coverage:

  • Make an appointment with your insurance agent/broker to review your policy. This should be done annually.
  • Reevaluate your policy after making any upgrades to your home.
  • Add an inflation endorsement to your policy.
  • Build a relationship with your agent/broker.

Here are a few important elements to focus on to ensure adequate coverage:

  • Replacement Cost Value (RCV): The amount of money needed to repair your home at today’s prices of building supplies or to replace your belongings at today’s cost of a similar or like item. It is important to discuss replacement costs with your insurance agent/broker when purchasing your policy. This is the figure that dictates the completeness of your coverage.
  • The cheapest policy is not always the best policy. Often, the most inexpensive policies lack the coverage you desire. Make sure to dig deep into the details and evaluate your RCV and deductible.
  • What exclusions are in your policy contract? You don’t want to find out after making a claim that you are not covered because of an exclusion. You may need to add specific riders to expand your coverage.
  • Be aware of what activities would void your coverage. For example, leaving your home vacant for more than 30 days often voids coverage without a vacancy rider. Snowbirds who winter in the sunshine should be keenly aware of this.
  • Understand the balance between your deductible and a claim amount. Making a claim could increase your premium or even get you canceled. Analyzing the impact of a claim and weighing the cost/benefit is key. If you can afford to pay for the repair on your own, it might make sense not to make the claim.
  • If you are a renter or own a condo, what policies should you have to protect your belongings? Renters need a renter’s policy to cover their personal belongings should something happen to the structure such as a fire. Additionally, condominium associations have a master policy that covers common areas and exterior elements. Condo owners should have personal policies to cover what the master policy doesn’t cover, along with their personal belongings.

These are just a few things to get you started on an HOI audit. If you need any referrals to reputable insurance agents or brokers, please let me know. While HOI is not my direct area of expertise, I’m happy to connect you with professionals to help you better. I hope you can attend the virtual panel event on May 7th so you can learn even more. It will provide you with useful insights and create value for your investment. It is always my goal to help you stay informed about the value of your home, market trends, and how to protect your home. You can click on the link below to register or reach out to me directly and I will get you the link to attend.

You’re invited to our annual Paper Shredding Event & Food Drive. We partner with Confidential Data Disposal to provide a safe, eco-friendly way to reduce your paper trail and help prevent identity theft.

Saturday, April 19th, 10AM to 2PM (or until the trucks are full)
4211 Alderwood Mall Blvd, Lynnwood
Bring your sensitive documents to be professionally destroyed on-site. Limit 10 file boxes per visitor.

We will also be collecting non-perishable food and cash donations to benefit Volunteers of America Western Washington food banks. Donations are not required, but are appreciated. Hope to see you there!

>> This is a paper-only event. No x-rays, electronics, recyclables, or any other materials.

Monthly Newletter February 23, 2025

Monthly Newsletter – 02/20/2025

As we start a new year, I am often asked where home prices are headed.  While I don’t have a crystal ball, I study the market trends and activity closely.  Many aspects affect home prices, such as the overall economy’s health, inventory levels (supply & demand), and interest rates.  Seasonality is also a pattern I pay close attention to, and we are headed into the time of year when we see most of the annual price growth happen.  As we prepare for the Spring market, I have pulled some data that shows the seasonal patterns and the impact interest rates have had on prices, and long-term equity growth.

First, before we look forward, we must look back to understand the relationship between rates and prices.  We went on a long run of rates being below 5% from 2010 to mid-2022, outside of the second half of 2018. Price growth was consistent after the recovery from the Great Recession in 2012 to 2018 and, in some cases, incredibly rapid.  When the increase in interest rates happened in 2018, along with the proposed Seattle Head Tax, we saw a correction in home prices.  It took the market about 15 months to recover from that correction.

Then, we hit the pandemic-fueled market of 2020-2022, where price growth was off the charts.  During that time, work-from-home moves flooded the suburbs and rural markets, early retirements and relocations to other states created movement, and interest rates under 3% drove prices up by double digits.  At the beginning of 2022, rates started to creep up to counter inflation and increased by 2 points in four months, landing at 5.5% in May 2022.  This, like 2018, forced a correction in prices.  This correction took 24 months to recover, with prices regaining their May 2022 peak in May 2024.

This recovery all happened amidst interest rates peaking at 7.91% in Oct 2023 and never going under 6% the entire time.  Rates have hovered from 6.75%-7.25% over the last year, outside of a small window in the Fall when they were in the mid-6%.  This illustrates that the market has become accustomed to the new normal of interest rates, and prices have been strong and stable.  Tight inventory has helped bolster price stability and growth with limited supply to fuel demand.

If you look at the recovery from May 2022 to May 2024, you must also understand the seasonality of the market.  This pattern has rung true for decades and has much to do with inventory levels.  We typically start the new year with the lowest amount of available homes for sale due to the holiday slow down, short, dark days, and many families timing their moves around the school year.  Once the new year starts, would-be buyers hit the market with their housing goals blowing wind into their sails.


This new demand is coupled with tight inventory, and the price growth for the year starts to take shape via price escalations via multiple offers.  This becomes commonplace in Q1, and we begin to see inventory catch up in Q2 when the days are longer, the flowers are in bloom, and we are a little closer to the opening of summer break for schools, creating a less disruptive move.  Despite the correction in 2022 and rates stubbornly remaining in the 6-7% range, sellers have realized incredible gains, and buyers who have made purchases have secured their trajectory of building wealth through owning real estate.

Even though price growth is more accelerated in the first half of the year, the deceleration of price growth sits on the shoulders of the gains in Q1 & 2, ultimately leaving prices higher year-over-year.  This is a pattern we have seen for some time, and we are already starting to see it unfold in 2025.  Month-to-date prices are up in February 2025 over January 2025 by 5% in King County and 1% in Snohomish County.  This pattern can guide one’s timing of the market, and so can life.  As much as hitting the perfect week when there is less competition and rates drop may feel like hitting your bet at the roulette table, making a move is much more nuanced than that.  The timing of a move needs to work with the demands of life, and the good news is the year-over-year gains are positive regardless.

As we head into the spring market for 2025, we anticipate additional price growth from where we are now and following the trend of prices peaking in late Spring.  We should regain and most likely eclipse the peak prices we saw in 2024.  To expand this to the bigger picture, let me share some fun facts about long-term price growth and homeowner equity with you.  This is especially important as real estate is a long-term investment, the four walls where you create your life, and not meant to be a lucky bet on black.

Check out the charts below that show how far prices have come over the last ten years!  In King County, the January median price is up 74% since 2016 and up 36% since 2020.  In Snohomish County, the January median price is up 103% since 2016 and up 51% since 2020.  Equity levels are high across our region, with over 50% of homeowners having 50% equity or more.  Many homeowners are in the fortunate position to reposition their equity into a home that is a better fit for their lifestyle if they are experiencing life changes such as a change in family size, job change, or a financial shift.


I hope this look back to look forward instills confidence in our real estate market and home values. If a move is in your future, you will prosper well.  Please reach out if you or someone you know is considering a move, whether it is a purchase, sale, or both.  I can help apply these facts and figures to your specific market area and help chart a plan according to the market conditions and your goals.  It is always my goal to help educate my clients and empower them with the information to make well-informed, strong decisions.
In 2024, the Windermere Foundation raised just over $3.5M and served 583 organizations.  Since its inception in 1989, they have raised over $56M!  The Foundation was created to help give back to our communities and focused on assisting homeless and low-income families and children.  Each Windermere agent participates by donating a portion of each commission earned, and additional fundraising is done annually by agents and offices.  Local chapters vet organizations aligning with the Foundation’s mission, and funds are responsibly disbursed.

Offices also take on projects to help give back throughout the year.  Our office consistently raises funds and collects food for the Volunteers of America (VOA) Food Banks of Snohomish County, and we hold three food drives a year.  We understand that food insecurity is a relevant need, especially amid high inflation.  Our next food drive is on Saturday, April 19th, and we will be combining it with our Paper Shredding Event that will be held at our office from 10 am to 2 pm.  If you have some paper to shred, please stop by and bring some food or a cash donation to benefit the food banks managed by VOA.

We also work with Washington Kids in Transition (WKT) and organize a Christmas-giving tree that benefits two dozen youths in the Edmonds and Everett School Districts.  WKT has also started a new mentorship program that helps homeless teens learn critical life skills, such as managing finances and nutrition.  The program also organizes outings and events under the moniker of the Friendship Club that give these teens the opportunity to build relationships and have experiences that would not be available to them like attending a play or a ball game.  These giving projects are near and dear to our hearts, and we are proud to align with these reputable organizations that do such meaningful work.