Monthly Newletter • May 24, 2017

You’d Like to Sell Your Home, but Where to Next, and How?

by Travis DeFries

Homeowners across our region are enjoying very healthy equity levels due to an upswing in the real estate market over the last five years. In fact, the median price in King County is up 50% over the last five years and up 47% in Snohomish County. This growth in equity has given homeowners the exciting option to sell their home for a high price and move on to their next chapter, such as a move-up, down-size or second home. This price growth is great news and provides many opportunities, however we have also faced some challenges in how to make these transitions.

Our biggest challenge in the marketplace right now is inventory levels; sometimes requiring a buyer to compete in multiple offers for their next home. Currently King County sits at 0.7 months of inventory and 0.8 in Snohomish. Historically, buyers that are also sellers would commonly secure a new home contingent on the sale of their current home. Meaning the seller of the new home they are buying would give them a month or so to get their current house sold in order to buy theirs. Well in this market, that is only rarely an option. So, the million-dollar question is this: how does one who has gained so much equity, now itching to get that bigger house, different location, or perfect rambler for settling into retirement, make this transition without having to move twice? We need to get creative and have a strategy. Two options that I have recently proved to be successful, are negotiating a rent-back for my sellers or using the Windermere Bridge Loan program.

First, negotiating a rent-back has become a great option for someone who needs to first sell their current home in order to buy. The way it works is we put their home on the market, price it competitively to create demand, and ask for a rent-back as one of the preferred terms. If this rent-back is successfully negotiated, then the seller closes on their home and collects their funds, but gets to stay in the house anywhere from 30-60 days. This enables the seller, who is now a buyer, to have their cash in-hand, time to find a new house, get it under contract and close the sale when their rent-back is ending. This eliminates the need to move twice. There is a bit of calculated risk in this plan, but I’ve seen it work several times, always with a plan B ready just in case. Rarely has plan B needed to be executed, and often times we’ve even been able to pay little to no rent during this time.

The second option is the Windermere Bridge Loan program. This is an amazing tool for homeowners that own their homes free and clear, or have paid down their debt quite a bit. This is a low-cost alternative to pull the equity out of one’s house prior to selling it in order to make a non-contingent offer. The way it works is we take the market value of the house the homeowner current lives in, established by a comparative market analysis that I complete and is signed off by my broker. We then take 65% of that value and subtract any debt owed, and that is the maximum amount the homeowner can borrow for their next down payment. They can then make a non-contingent offer on a new home. What is really great about this, is that it doesn’t require an appraisal (like a HELOC does), and these can easily be turned around in 3-5 business days. This tool provides the opportunity to quickly and inexpensively pull your equity out, be competitive, and eliminates the double move.

The fees associated with this program are a 1% loan fee on the equity that is pulled, a title report, and interest that is incurred between the loan funding and being paid off once the subject home is sold. That interest is conveniently wrapped up in the closing costs when they close the sale of their home, eliminating the need to make monthly interest payments. In a strategy that is somewhat mind blowing- we can sometimes use these bridge loans and never have to actually fund them. For example, if we secure a property non-contingent with the bridge loan and immediately get the subject home on the market, we can often secure a sale with a simultaneous closing, and never have to fund the loan. This eliminates the loan fee, interest, and the need to carry two mortgages.

If you are excited about equity levels and today’s low interest rates and have thought about making that move you’ve been waiting for, but have been fearful of how to do it all – I can help. These two options, along with great attention to detail, hand-holding, and careful planning have helped many people make these exciting transitions. It is my goal to help keep my clients informed and empower strong decisions. Please contact me if you would like further information on how this might work for you or someone you know.

Are you curious how the different areas of Western Washington are thriving in today’s real estate market? From San Juan County to Snohomish County, this report has it all! Including reports on pricing, sales rates and employment levels, Matthew Gardner, Windermere’s Chief Economist and nationally sought-after expert in real estate, shares his quarterly findings on the Western Washington real estate market. Read the full report here.

Find a Farmers Market

When you shop at a local Farmers Market, you’re buying outstanding freshness, quality and flavor. Knowing exactly where your food comes from and how it was grown provides peace of mind for your family. Plus, you’re supporting a sustainable regional food system that helps small family farms stay in business; protects land from development, and provides the community with fresh, healthy food. Find one near you!

Thank you for another successful shred day!

Two full truckloads of paper were safely shredded and recycled.

We love providing this service for our clients, friends and neighbors, but what we’re really excited about is how you all gave back to the community. Your donations provided 585 pounds of food and $543 to benefit Concern for Neighbors food bank. Thank you!

Do you want to be “In the Know” in your neighborhood? Sign up for a monthly overview of what’s happening in the zip code(s) of your choice. Neighborhood News is a great tool to stay informed about the home values and activity in your own backyard or to study a new market you may be interested in.Click here to sign up on my website.

Shoreline • May 16, 2017

5 Reasons Why Commuters Love Living in Shoreline

by Travis DeFries

“Commuters love Shoreline because it’s halfway between Everett and Seattle, so whether someone is going to Boeing or Amazon the commute is not overly painful. Plus there are so many Rapid Ride options, transit stations nearby and soon the Light Rail. Easy back roads to Ballard and Queen Anne and just a quick trip to Edmonds to hop on The Sounder!”

REALTOR® Cori Whitaker sums it up perfectly—Shoreline offers it all! Just north of Seattle, Shoreline is a top choice for those who commute due to its close proximity to the city (and like Cori mentions, other large cities like Everett) and myriad of transit options.

If you’re thinking about moving to Shoreline or switching up your commuting routine, check out these 5 reasons why commuters love living in Shoreline for some transit tips!

1. Future Light Rail Station

Did you know the Light Rail is coming to Shoreline?! That’s right—in 2023, Shoreline is getting light rail… and it’s getting not one but TWO stations! The city has plans for a station at I-5 and 145th St, and I-5 and 185th Street. You can take a look at the map of the extension right here. Not only will this be great for commuters, but this will have a huge effect on property values within its zoning.

2. Central Location

Like Cori mentioned earlier, Shoreline is nestled in a central location that’s in between Seattle and Everett. Depending where you live in Shoreline, it’s about a 24-minute drive into Downtown Seattle while Everett is about a 20-minute drive.

3. Aurora Village Transit Center

REALTOR® Jill Langer shares that people in Shoreline mostly use cars to get around, “but because there is a large transit center at Aurora Village, riding the bus is very convenient.” The Transit Center has several buses that head all over the region, including Downtown Seattle, First Hill, UW Campus, Northgate, Bellevue/Renton, and much more. There’s also a RapidRide to Downtown Seattle.

4. The Interurban Trail

“The Interurban Trail provides a great way to walk or bike and is connected to the north to Snohomish County’s and to the south to Seattle’s Interurban Trails,” shares REALTOR® Jill Langer. The north portion of this trail leads from Seattle all the way up to Everett and makes its way right through Shoreline.

The Burke-Gilman Trail doesn’t run through shoreline, but there is a project underway that connects Shoreline’s portion of the Interurban Trail to Lake Forest Park and the Burke-Gilman!

REALTOR® Bernice Whitney elaborates a bit more on the Burke-Gilman: “The primary source of transportation [in Shoreline] is by far the four wheel variety, but bicycles along the many two lane arterial roads is not uncommon. The Burke-Gilman Trail, which will take you down to the UW, points further west [and] is a popular destination for those both on bike and foot.”

5. Sounder Train in Nearby Edmonds

Located at 211 Railroad Ave, Edmonds, WA 98020 just north of Shoreline, the Sounder Train has a stop in Edmonds that you can take advantage of. The Sounder runs from Lakewood and Seattle, and Seattle and Everett, making it an excellent option for going longer distances in a relaxing, scenic manner. Bypass car traffic with this handy option!

Shoreline • May 16, 2017

Your Guide to Schools in Shoreline

by Travis DeFries

One of the top reasons why people choose to live in Shoreline, WA is because of Shoreline’s excellent educational options! “Shoreline has an amazing, award-winning public school district, many good private schools, and well-regarded Shoreline Community College,” shares REALTOR® Jill Langer. With public schools, private schools, and even a community college to choose from, Shoreline’s variety of schools offers its residence with some truly impressive and award-winning options.

Here are a few of the schools that locals recommend:

Shoreline Public Schools

The Shoreline Public School system features early learning opportunities, 9 elementary schools, 2 middle schools, 2 high schools, one K-8 school, and a Home Education Exchange program. Shorewood High School is especially of note—this school was recently completely renovated, and re-opened in September 2013.

You can view the attendance area map for Shoreline Public Schools right here.

PRIVATE SCHOOLS IN SHORELINE

St Luke School

St Luke School offers a wide range of programs, including a preschool program for 3 and 4-year-olds, all-day kindergarten, and school up through the 8th grade. They also have an educational and engaging summer program to take advantage of!

Horizon School

“My kids went to Horizon School and absolutely loved it!” shares REALTOR® Cori Whitaker. “[Horizon School is a] dynamic school for pre-school/kindergarten ages that focuses on hands-on, self-directed play and creative expression.” Nestled in the Richmond Beach community, Horizon School is a private, non-profit school. The application process begins each winter, and they also offer summer programs.

First Lutheran School & Kindergarten

“First Lutheran School & Kindergarten at Richmond Beach provides pre-k through kindergarten. It’s a solid starting point if you’re looking for a place that is well-rounded and focused on child development along with principles of the Christian faith,” says REALTOR® Casey Diep Bui. “Our kids attend and we are very impressed with the staff, their curriculum, and their approach to teaching.”

The Evergreen School

Offering programs for those in preschool all the way through 8th grade, The Evergreen School is all about learning in a vibrant, diverse environment. Their preschool program is a half-day program (with extended childcare available until 5:30pm), and their prekindergarten program is full-day. They also offer a huge variety of afterschool classes, including sessions that are focused on robotics, coding, baking, debate, sewing & crafting, and much more.

King’s School

This dynamic community offers programs from preschool all the way through high school graduation. The King’s School website state that their “standard curriculum is the highest quality college-prep track available,” and they also provide honors and classes in addition to a huge variety of sports, music, drama, and other programs.

Shoreline Community College

This incredible resource offers a dynamic range of programs, including high school programs (like Running Start, GED, and more), professional and technical programs (like nursing, dental hygiene, criminal justice, business technology, etc.), online programs, transfer degrees for those who plan to attend a college or university, continuing education, and so much more! Learn more about Shoreline Community College’s myriad of offerings here.

Shoreline • May 16, 2017

Your Go-To Shoreline Guide for Getting Out & About (Dining, Grocery Shopping & Parks

by Travis DeFries

With warmer weather on the way, it’s time to get out of the house and out on the town!

Here is your guide to the best dining, grocery shopping, and park destinations in Shoreline:

DINING OUT in SHORELINE

Ridgecrest Public House

Located at 520 NE 165th Street | Shoreline WA 98155
Hours: 4pm-midnight daily

Featuring 17 beers and 3 ciders, Ridgecrest is the place to be for a laid-back dinner and hangout with friends! They also host food trucks each evening from 5-9pm—take a look at their schedule here. “The Ridgecrest Public House is a great place to meet up with friends. The RPH has rotating taps for beer and cider and a different food truck each day offers plenty of options for food,” shares REALTOR® Samantha Arango. “Down the street is the Crest Theater, which is a discount movie theater, and a great place to take kids.”

Leena’s Cafe

Located at 17732 15th Ave NE, Shoreline, WA 98155
Hours: 6:30a-9:00p Monday-Saturday, 6:30a-8:00p Sunday

Family owned and operated, this Shoreline staple nestled in the heart of Shoreline’s North City district serves up classic diner food with a Greek influence. “Leena’s has a great breakfast menu,” shares REALTOR® Samantha Arango. REALTOR® Bernice Whitney agrees—”It’s hard to top their breakfast!”

The Greek Kitchen

Located at 608 NW Richmond Beach Rd. Shoreline, WA 98177
Hours: 11:00a-9:00p Sunday-Saturday

“Love this friendly, family run restaurant,” says REALTOR® Cori Whitaker. “Always clean, quick, consistent and delicious. Their hummus is to die for!”

Cabin Tavern

Located at 19322 Richmond Beach Dr. NW Shoreline, WA 98177
Hours: 12:00p-10:00p Monday; 12:00p-11:00p Tuesday-Thursday; 12:00p-2:00a Friday-Saturday; 12:00p-10:00p Sunday

According to Cori, “the Cabin Tavern is a perfect little dive bar grandfathered in to laid-back Richmond Beach with sloped floors, a crooked bar and regulars sipping beers at pretty much any time of day. Great fish and chips with the best tartar sauce ever and jam sessions Tuesday night where people can bring instruments and join in playing bluegrass, blues, folk, rock, you name it. Great character and worth checking out!” REALTOR® Melissa Huddleston also adds that this spot has been around for decades, and offers “typical bar food and fair, but so much fun to sit outside with a brewsky on gorgeous summer days.”

Hill’s Restaurant & Bar

Located at 1843 NW 195th St. Shoreline, WA 98177
Hours: 11:30a-4:00p Sunday-Saturday (Lunch); 3:00p-5:00p Monday-Friday (Happy Hour); 4:00p-9:00p Sunday-Thursday, 4:00p-9:30p Friday-Saturday (Dinner)

New residents won’t want to pass up this local favorite. Hill’s has been serving delectable dishes for over ten years, becoming a go-to for lunch, dinner, and happy hour. “Hill’s offers a great menu, nice ambience & good value,” shares REALTOR® Jill Langer. This is also one of REALTOR® Melissa Huddleston’s favorite spots—”It’s a quaint little spot with great food and atmosphere!”

Taqueria El Sabor

Located at 15221 Aurora Ave. North Shoreline, WA 98133
Hours: 9:00a-11:00p Monday-Thursday; 8:00a-12:00a Friday-Sunday

For south-of-the-border flavor, REALTOR® Cori Whitaker suggests Taqueria El Sabor: “Quick authentic Mexican food, always full of people enjoying a wide variety of food for reasonable prices. They started as a taco truck and now have 3 restaurants and a huge following.” REALTOR® Jill Langer also highly recommends Taqueria El Sabor—”[They have] consistently good fast food!”

Streetzeria

Located at 1857 NW 195th St. Shoreline, WA 98177
Hours: 5:00p-9:00p Sunday-Saturday

If you’re tired of the same old pizza places, mix things up with Streetzeria. Their flavors are amazing and their desserts are the perfect way to top off any meal.

Spiro’s Pizza & Pasta

Located at 18411 Aurora Ave. N. Shoreline, WA 98133
Hours: 11:00a-9:00p Monday; 11:00a-9:30p Tuesday-Thursday; 11:00a-10:30p Friday; 12:00p-10:30p Saturday; 4:00p-9:00p Sunday

Whether you’re looking for a team hangout or a corporate party spot, Spiro’s has you covered. Their restaurants work for group large and small and their food keeps everybody happy.

North City Bistro & Wine Shop

Located at 1520 NE 177th St. Shoreline, WA 98155
Hours: 4:30p-close Tuesday-Saturday (Kitchen); 2:00p Tuesday-Saturday (Wine Shop); closed Sunday-Monday

With food, wine, and live music, how can you go wrong? Grab your friends and check out the reinvented North City Bistro, a true neighborhood hot spot.

GROCERY SHOPPING in SHORELINE

For your grocery needs, Shoreline’s Costco, Central Market, and Trader Joe’s are not to be beat. From bulk savings and unique finds to fresh, high-quality foods, these shops have it all!

“For the best one-stop shopping experience, its got be Costco, centrally located in Shoreline and an easy I-5 commute. For a mid-day pick-me-up, you can always graze the isle samples or for that sit-down experience,there is the Food Court,” shares REALTOR® Bernice Whitney.

REALTOR® Samantha Arango also has a couple of grocery shopping tips—”I love Central Market as well,” she shares. “Central Market has cooking demonstrations, a huge deli, salad, and antipasto bar, and a great selection of cheeses, wines, and beers. Trader Joe’s opened up this year and is always a fun place to shop.” REALTOR® Jill Langer seconds that—”The Central Market offers everything FRESH – produce, seafood, flowers – you name it. They have lots of good organic options as well!”

PARKS in SHORELINE

Richmond Beach Saltwater Park

Located at 2021 NW 190th St. Shoreline, WA 98177
Hours: 6:00a-9:00p Sunday-Saturday

Located near the beautiful waterfront, Richmond Beach Saltwater Park is a perfect place to spend the summer picnicking or laying in the sand. REALTOR® Jill Langer highly recommends beach combing, and shares that there’s also an off-leash area during the winter months here.

Hamlin Park

Located at 16006 15th Ave. NE Seattle, WA 98155

If fitness is your thing, check out Hamlin Park. Trails run through natural areas and with the addition of an orienteering course, you can have fun while staying in shape. “Hamlin Park is a great place to do some trail running and there is a dog park there as well,” says REALTOR® Samantha Arango.

Paramount School Park

Located at 15300 8th Ave. NE Shoreline, WA 98155
Hours: 6:00a-10:00p Sunday-Saturday

Get the kids moving with a trip to Paramount School Park. Baseball fields, a playground, and a skate park promise hours of fun that won’t break the bank.

Boeing Creek Park

Located at 17229 3rd Ave. NW Shoreline, WA 98133
Hours: 6:00a-6:00p Sunday-Saturday

Escape the everyday at Boeing Creek Park. Walk the trails, watch the wildlife, and immerse yourself in nature’s beauty any time of the year. REALTOR® Jill Langer especially recommends Boeing Creek Park for hiking and bird-watching—she loves how you can experience being in the woods there!

Shoreline Pool

Located at 19030 1st Ave. NE Shoreline, WA 98155
Hours: 5:30a-8:45p Sunday-Saturday

Summer isn’t summer without a trip to the pool. Take the kids to Shoreline Pool for a dip this year or rent the whole pool for your next big weekend bash.

Shoreline • May 16, 2017

Don’t Miss Out on These 12 Special Annual Events in Shoreline

by Travis DeFries

One of the things that people love most about Shoreline is that it’s packed with fun events the whole family can enjoy! From festivals to food, there’s something for everyone.

We talked to local expert REALTOR® Cori Whitaker and REALTOR® Samantha Arango about the best events in Shoreline for 2017 and here are their top 12 picks! (We’ve shared the dates and times for 2017, but bookmark this post for next year so you can mark your calendars that a special event is coming up!)

APRIL 2017

Annual Egg Hunt on the Beach

Date & Time: April 15, 1:00p
Located at 2021 NW 190th St. Shoreline, WA 98177

This year’s Annual Egg Hunt on the Beach, sponsored by the Shoreline Fire Department, was a huge success. If you missed it, don’t fret; bring the kids down next year to catch some eggs and make some memories.

MAY 2017

Strawberry Festival

Date & Time: May 13, 12:00p-5:00p
Located at 2201 NW 197th St. Shoreline, WA 98177

Kick off strawberry season at Shoreline’s Strawberry Festival. Live music, tours, a children’s parade, and delicious strawberry shortcake make this one event you will not want to miss.

JULY-AUGUST 2017

Summer Concerts in the Park

Date & Time: July 5-August 23, 6:30p (unless otherwise noted)
Located at Several Community Parks Throughout Shoreline and Lake Forest Park

If you’re looking for a fun, free event, check out the Shoreline-Lake Forest Park Art Council’s Summer Concerts in the Park series. 2017’s lineup includes swing, latin jazz, and more, so grab a blanket and enjoy a musical summer evening.

AUGUST 2017

4-Corners Brewfest 2017

Date & Time: August 12, 3:00p-7:00p
Located at 1430 NW 188th St, Shoreline

Beer lovers unite! The 4-Corners Brewfest is back with more tasty food, live music, and the best brew samples around, so get ready for this local favorite.

Sandcastle Contest

Date & Time: August 20, 11:30a-2:30p
Located at 2021 NW 190th St. Shoreline, WA 98177

Part of “Celebrate Shoreline,” the Saltwater Park Sandcastle Contest gives contestants three hours to construct the best sandcastle. If you think you have what it takes, grab your shovel and start prepping for this unique event.

The North City Jazz Walk

“The North City Jazz walk is a fun summer event that takes place annually in August,” shares REALTOR® Samantha Arango. “A portion of 15th Ave NE is shut down and many businesses offer food and host various jazz bands.”

AUGUST-SEPTEMBER 2017

Shoreline Food Trucks

Date & Time: TBD; 5:00p-8:00p Wednesdays
Located at 2021 NW 190th St. Shoreline, WA 98177

Experience awesome local food trucks every Wednesday night at Saltwater Park. 2017 vendors are still TBA, so keep your eyes peeled for the taste adventures that await this year.

OCTOBER 2017

Hamlin Halloween Haunt

Date & Time: October 20, 6:00p-8:30p
Located at Hamlin Park 16006 15th Ave NE Shoreline, WA

If you’re looking for Halloween fun this year, need to check out the Hamlin Halloween Haunt. Spooky songs, s’mores, and more make this the perfect event for all ghouls and goblins.

Halloween Carnival

Date & Time: October 28, 3:00p-7:00p
Located at 19545 12th Ave. NW Shoreline, WA 98177

For old-fashioned carnival lovers, the Richmond Beach Community Association’s Halloween Carnival is exceptional. Classic games, a haunted house, inflatables, and food make this a timeless community tradition.

NOVEMBER 2017

Turkey Day Fun Run

Date & Time: November 23, 8:30a
Located at 2021 NW 190th St. Shoreline, WA 98177

Get pumped for that Thanksgiving feast during the Richmond Beach Community Association’s Turkey Day Fun Run. Enjoy a brisk trek before settling in to celebrate the holiday.

DECEMBER 2017

2017 Argosy Christmas Ship Visit

Date & Time: TBD
Located at 2021 NW 190th St. Shoreline, WA 98177

For a one-of-a-kind Christmas event, check out the Argosy Christmas Ship Visit. Relax around the campfire as a ship carrying choirs passes along the coastline, filling the air with carols that will fill you with holiday joy.

Christmas Morning Fire Truck Visit from Santa

Date & Time: December 25, Morning
Located at Various Neighborhoods Throughout Richmond Beach

Every Christmas morning, the Shoreline Fire Department gives the big man himself a ride atop one of their fire trucks as he visits the families of Richmond Beach. Keep a lookout this year; he may come down your street!

Community Info • May 16, 2017

The Gardner Report – First Quarter 2017

by Travis DeFries

The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me.

ECONOMIC OVERVIEW

I’m happy to report that Washington State continues to add jobs at a steady rate. While the rate of growth is tapering, this is because many markets are getting close to “full employment”, during which time growth naturally slows. That said, I believe that the state will add around 70,000 jobs in 2017.

Washington State, as well as the markets that make up Western Washington, continues to see unemployment fall and I anticipate that we will see this rate drop further as we move through the year.

In all, the economy continues to perform at or above average levels and 2017 will be another growth year.

HOME SALES

There were 15,652 home sales during the first quarter of 2017. This is an increase of 9.5% from the same period in 2016, but 20.7% below the total number of sales in the final quarter of 2016.
With an increase of 45.5%, sales in Clallam County grew at the fastest rate over the past 12 months. There were double-digit gains seen in an additional 10 counties, suggesting that demand remains very robust. The only modest decline in sales was seen in Grays Harbor County.
The number of homes for sale showed no improvement at all, with an average of just 6,893 homes for sale in the quarter, a decline of 33% from the previous quarter and 25% from the first quarter of 2016. Pending sales rose by 2% relative to the same quarter a year ago.
The key takeaway from this data is that 2017 will offer little relief to would-be home buyers as the housing supply remains severely constrained.

HOME PRICES

With demand continuing to exceed supply, home prices continued to rise at above-average rates. Year-over-year, average prices rose by 9.5% but were 1.1% lower than in the final quarter of 2016. The region’s average sales price is now $409,351.
Price growth in Western Washington is unlikely to taper dramatically in 2017 and many counties will continue to see prices appreciate well above their long-term averages.
When compared to the same period a year ago, price growth was most pronounced in Kittitas County, which rose by 19.6%. Double-digit price growth was seen in an additional 10 counties. The only market where the average price fell was in the ever-volatile San Juan County.
It is clear that rising interest rates have not taken much of a sheen off the market.

DAYS ON MARKET

The average number of days it took to sell a home in the first quarter dropped by 16 days when compared to the first quarter of 2016.
King County remained the tightest market, with the average time to sell a home at just 31 days. Island County was the only area where it took longer to sell a home than seen a year ago; however, the increase was just one day.
In the first quarter of the year, it took an average of 70 days to sell a home. This is down from the 86 days it took in the first quarter of 2016, but up from the 64 days it took in the final quarter of last year.
Given woefully low levels of inventory in all Western Washington markets, I do not expect to see the length of time that it takes to sell a home rising in 2017. In fact, it is likely that it will continue to drop.

CONCLUSIONS

This speedometer reflects the state of the region’s housing market using housing inventory, price gains, home sales, interest rates, and larger economic factors. For the first quarter of 2017, I moved the needle a little more in favor of sellers. The rapid increase in mortgage rates during the fourth quarter of 2016 has slowed and buyers are clearly out in force.

ABOUT MATTHEW GARDNER

Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has over 25 years of professional experience both in the U.S. and U.K.

Community Info • May 3, 2017

Seattle, What’s the Big Deal?

by Travis DeFries

The headlines are everywhere proclaiming Seattle as the hottest housing market in the nation. Our humble city built on aerospace, trade, and influenced by a software engineer who donates millions, has found itself on the national map as the new darling of the tech world. Of course, this proclamation cannot go without mentioning the commerce juggernaut right in our own backyard, Amazon. I was told recently by Windermere’s Chief Economist Matthew Gardner, that Amazon occupies 20% of all Class A business space in Seattle – that is a lot! It seems you cannot drive down I-5 between Shoreline and the Sea-Tac Airport without spotting at least 15-20 cranes busily building more of that office space.

So why, Seattle? In contrast to California’s Bay Area, the cost of living here (rents and real estate) is half – office space costs half and companies can provide the same wages. This combination puts more money in employees’ pockets and companies are not as expensive to run, making profits higher. This has driven many companies to relocate or expand from the Bay Area to Seattle or Bellevue, markedly increasing the demand for housing.

This has put an even tighter squeeze on inventory, putting us in the most extreme Seller’s market (0-3 months of inventory) we’ve ever seen. This has driven prices up, and values are hinging on commute times. Below is a chart that outlines the amount of available inventory based on pending sales measured in months, and the median price in the month of March 2017.

As you can see, there is a direct correlation between proximity to job centers (Seattle and Bellevue) and home prices. If you have considered selling your home and making a move, now is one of the most favorable times to do so. If you are considering a purchase, the environment is competitive but there are opportunities. Aligning with an experienced and knowledgeable broker who can help you properly strategize, is key.

One might think it is simple to sell your home in this market, but getting top dollar, strong terms, and a sale that will pass appraisal is the ultimate goal, and takes a high level of communication and nuanced negotiations. The same applies for buyers, along with education and a refined process, which helps empower buyers to make informed decisions and win.

Our city is changing, and whether one thinks it is for the good or the bad is up to them, but this is our new reality. Seattle is beautiful, prosperous and full of opportunities for those who choose to call it home. Like any opportunity, it needs to be properly analyzed, considered, and ultimately seized. If you are curious how your home measures up in today’s market please contact me, I’d be happy to provide you a complimentary market analysis to help keep you informed, or sit down and chat about the steps of a successful home purchase.

Tomorrow!! Bring all your sensitive documents to be professionally destroyed on-site by Confidential Data Disposal. Limit 20 file boxes per customer.

We will also be collecting non-perishable food and cash donations to benefit Concern for Neighbors Food Bank.

Saturday, April 22nd, 10am – 2pm.
4211 Alderwood Mall Blvd, Lynnwood 98036

*This is a shredding-only event. Only paper will be accepted – no binders, electronics, or any other items.

On Saturday, May 6, Windermere Real Estate will proudly present the 31st annual Windermere Cup Rowing Regatta.

I hope you’ll join us on the Montlake Cut to share in the excitement as the Husky men and women take on crews from Shanghai, China.

10:00 – Noon:
Regatta (featuring 800+ athletes, ages 14-70)
Noon – 2:00 PM:
Seattle Yacht Club’s Boat Parade

Enjoy a free celebration of community and sport!
Food Booths | Commemorative Items | Bouncy House

Parking is available in the surrounding UW lots for a fee. Be advised that the Montlake Bridge will be closed to traffic from 9:40 a.m. to 3:00 p.m.

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Edmonds • April 5, 2017

5 Gorgeous Home Listings in Edmonds (Don’t Miss Out on the Water Views!)

by Travis DeFries

Interested in living in Edmonds? Whether you’re searching for a condo or a spacious luxury retreat, Edmonds offers homebuyers a wide variety of real estate to choose from. You can find everything from mid-century beauties to new construction, and many homes even come with fabulous views of the shimmering Puget Sound!

These 5 single-family home listings all show off some of Edmonds’ lovely current real estate listings—take a moment to explore each one:

1. Vacation-Worthy 4-Bedroom, 3.5-Bath Masterpiece w/Elevator, 1,000-Bottle Wine Cellar, & Stunning Views

Located at 540 Holly Dr Edmonds, WA 98020
Listed for $1,400,000

This gorgeous 2003-built custom home is tucked away on a rare private lot just steps away from 5th Ave! Whether you’re relaxing outside on the expansive deck or enjoying a cozy fire in the living room, this home offers captivating views of the shimmering sound and majestic mountains in the background. Click here to take a tour of this one-of-a-kind 3,939-square-foot home!

Would you like to learn more about this home or living in Edmonds? You can contact Barbara Clark at bclark@windermere.com or give her a call at (425) 218-2754!

Impeccable 4-Bedroom, 2.5-Bath Home Less Than 1 Mile From the Heart of Downtown Edmonds

Located at 1226 7th Ave S Edmonds, WA 98020
Listed for $750,000

Beautifully maintained, this pristine, magazine-worthy residence offers exquisite style alongside premium amenities. Discover a fabulous 3,336-square-foot floorplan that includes an incredible master retreat, a private deck, a spa-like bath, and much more. This home is also in a highly desired location, just blocks to parks and less than 1 mile to Downtown Edmonds’ shops, restaurants, pubs, and other attractions.

Would you like to learn more about this home or living in Edmonds? You can contact Melody Benton at melodybenton@windermere.com or give her a call at (206) 948-9080.

Bright & Updated 4-Bedroom, 2.75-Bath Home in Seaview

Located at 18140 84th Ave W Edmonds, WA 98026
Listed for $695,000

Showing off top-notch craftsmanship throughout, this 2,320-square-foot beauty features a spacious layout and thoughtful details in each room! Enjoy a sun-drenched kitchen, fireplaces in each common room, remodeled bathrooms, a multi-level deck, garden spaces, a circle driveway, and much more.

Would you like to learn more about this home or living in Edmonds? You can contact Casey Bui at CaseyBui@windermere.com or give him a call at (206) 234-5611.

Resort-Inspired 4-Bedroom, 3-Bath Luxury Home w/180-Degree Unobstructed South & Olympic Mountain Views

Located at 9233 Olympic View Dr Edmonds, WA 98020
Listed for $2,195,000

Discover graceful Streamline Moderne architecture with this 4,842-square-foot masterpiece! This rare waterfront residence offers jaw-dropping views of the Sound and Olympic Mountains from nearly every room. Whether you’re entertaining a house filled with guests or simply enjoying quiet time in this vacation-worthy space, this home offers a truly fabulous lifestyle, all while being just 2 miles to the heart of Edmonds!

Would you like to learn more about this home or living in Edmonds? You can contact Barbara Clark at bclark@windermere.com or give her a call at (425) 218-2754!

Exquisite 4-Bedroom, 2.5-Bath Rambler Just Blocks to Downtown Edmonds

Located at 705 Birch Place Edmonds, WA 98020
Listed for $970,000

Wonderfully move-in ready, this expansive 2,660-square-foot gem offers ultimate comfort and convenience! Located just blocks to downtown and boasting Sound and Mountain views, this gorgeous haven is ready for entertaining. This home’s huge master suite, palatial deck, and light-filled kitchen are especially of note.

Would you like to learn more about this home or living in Edmonds? You can contact Melody Benton at melodybenton@windermere.com or give her a call at (206) 948-9080.

Click here to keep exploring Edmonds real estate!

Edmonds • April 5, 2017

Tips For Exploring Edmonds’ Scenic Waterfront & Beautiful Parks

by Travis DeFries

Located right along the Puget Sound, Edmonds features a long list of scenic opportunities for exploring the outdoors! From picturesque parks to its iconic waterfront, there’s a variety of activities to choose from, whether you’re just looking for a day at the playground or wanting to spend a sunny day by the sea.

When the sun comes out and you’re ready to head outside for some fresh air, make sure you have this list of tips for exploring Edmonds on hand:

Brackett’s Landing South & Brackett’s Landing North

Backett’s Landing North: 50 Railroad Ave N
Backett’s Landing South: 100 Railroad Ave S

Located on either side of the Edmonds/Kingston Ferry Dock, Brackett’s Landing South and Brackett’s Landing North are both popular destinations! These locals have some excellent tips on how to make the most of this beautiful setting:

“We love to play in the saltwater and build sandcastles with our preschooler on the sandy beach at Brackett’s Landing. Watching the coming and going of the ferries and trains nearby adds to his delight. On an especially warm day, we’ll head home via Canarino Gelato for cones. Beach and gelato—what more could a kid, or one at heart, ask for?!” – REALTOR® Claudette Meyer

“My kids and I love to collect sea glass along Brackett’s Landing and then have dinner at Anthony’s Beachfront Cafe and watch the ferries come and go.” – REALTOR® Andrea Wetzel

“Walking the beaches is a favorite thing to do—especially on those rare, sunny days. When the sun is out, it is a blessing to live so close to the coast with all its beauty. Storm watching from Sunset Ave is a great way to take a break and refresh!” – REALTOR® Barbara Clark

“The annual polar plunge on New Year’s Day that takes place at Brackett’s Landing is a super fun community event. [You can also] stroll along the waterfront where you can pop into the Beach Cafe for a bit and watch the boats go in and out of the Marina.” – Windermere North Owner Lena Wood Maul

Edmonds Underwater Park

Part of Brackett’s Landing North include the Edmonds Underwater Park, an incredible expanse of 27 acres of tide and bottom lands. There are features and trails developed especially for divers, and about 25,000 scuba divers visit and take advantage of this park each year!

Marina Beach Park (Including Off-Leash Area Edmonds)

Located at 470 Admiral Way Edmonds, WA

Marina Beach Park is brimming with things to do and see! Stunning views of the water and mountains set the gorgeous scene, and there’s a playground, picnic tables, a loop trail, open turf area, volleyball net, restroom, a car top boating launch, and even a special off-leash dog area at the south end of the park! “There is a great off-leash dog park just beyond the Marina that is a great place to let your four-legged friends run and play,” shares Lena Wood Maul.

Heading to this park with your pup? REALTOR® Casey Bui has an extra tip for you: “For dog owners, the Harbor Square complex down on the waterfront also houses Blue Collar Dog House, a dog sitting business that also offers grooming and training. It’s a nice complement to the off-leash dog park at Edmonds’ Marina Beach.”

Edmonds City Park

Located at 600 3rd Ave S, Edmonds, WA 98020

Offering about 10 acres of park-like space, this Edmonds gem is brimming with top-notch outdoor amenities! A spray park, playground, ballfield, gazebo, fire pits, trails, picnic tables, and more await. Plus, leashed dogs are allowed in the southeast wooded area of Edmonds City Park.

Meadowdale Beach Park

Located at 6026 156th St SW, Edmonds, WA 98026

Spanning a generous 108 acres, Meadowdale Beach Park is home to an old forest, a scenic stream that leads to the Puget Sound, and lovely beaches. This park is a popular spot to observe wildlife from, whether you’re enjoying the forest or spending time down by the water. Plan your trip here!

Hickman Park

Located at 23700 104th Ave W Edmonds, WA

This expansive park is ready for playtime! Beautifully maintained and a joy to spend time in, this park features a trail that winds through a wooded area, a picnic shelter, basketball court, restroom, playground, baseball field, and more. Plus, leashed dogs are allowed on the paths at Hickman Park.

Pine Street Playfield

Located at 6th and Pine Street Edmonds, WA

“Pine Street Playfield is simple but does have a little league ball field,” shares Casey Diep Bui. This smaller park is perfect for a sunny picnic and a day spent playing on the playground! Pine Street Playfield’s residential setting makes it a lovely spot to head to with little ones.

Lyndale Park

Located at 18927 72nd Ave W, Lynnwood, WA 98036

While this park is technically in next door Lynnwood, it’s too good not to mention! Boasting over 30 acres of beautiful outdoor space, this park includes a native forest, several sport fields and courts (including baseball fields, a soccer field, 4 tennis courts, basketball courts), play equipment, a skate park, walking trails, an amphitheater, an off-leash dog area, and more! Plan your trip here!

Edmonds • April 5, 2017

How to Take Advantage of Edmonds’ Thriving Art Scene

by Travis DeFries

I am so thankful for Edmonds’ commitment to the arts! As a result of members of the community making the arts a priority, there are some truly excellent and enriching opportunities to enjoy the arts all year long. Whether you’re looking to appreciate some art in a gallery or museum setting or just want to immerse yourself in beauty at a laid-back festival or art walk, Edmonds has opportunity for it all!

I asked locals how to best take advantage of this artistic city, and they gave me an inside look:

Cascadia Art Museum

Located at 190 Sunset Ave. #E Edmonds, WA 98020

“Cascadia Art Museum is a regional art museum which focuses specifically on NW artists of the mid 19th to mid 20th century,” shares local Lynette Hensley. “The museum opened in Sept 2015 at Salish Crossing, formerly a grocery store, and an antique mall. Repurposed into an art museum with rotating collections, it reflects the city of Edmonds’ commitment to the arts.”

Cascadia Art Museum offers a diverse range of exhibitions, ensuring there’s always a reason to head back! We recommend following the museum on Facebook so you can receive updates on new exhibits and events.

Monthly Art Walk

“The monthly art walk brings the town alive on the third Thursday of the month,” shares Lena Wood Maul. “Businesses stay open until 8 pm to showcase art from local artist and sometimes even serve wine and treats. The restaurants get a little extra kick that night too from all of the walking traffic. This is a super fun way to check out some local art and support our local businesses.”

Great tips, Lena! You can check out a detailed map on the Art Walk Edmonds website so you can plan your third Thursday. You can also follow them on Facebook to make sure you don’t miss out on special events happening at the art walks!

Public Art

One of the wonderful things about Edmonds is that you don’t have to head to a museum to enjoy art—you’re surrounded by it! “Check out the sculptures big and small along the waterfront walk, from the ferry to the fishing pier,” advises Lynette Hensley.

Sculptures on the waterfront include the Friendship Tree, and you can also check out an interactive map of public art in Edmonds here.

Edmonds Art Festival

Located at Frances Anderson Center 700 Main Street Edmonds, Washington

“Edmonds Art Festival is a major regional art festival, attracting artists from all over the country to show and sell at the Frances Anderson center between Dayton and Main at 7th,” says Lynette. “The festival takes place over Father’s Day weekend and is a big deal. It’s so big, it’s challenging to find parking during the most popular hours. There are two outdoor booth exhibit areas with artists lined up along ‘roads’ such as Van Gogh Place and DaVinci Avenue. Live music and food vendors keep the mood party-like, and a very inclusive student exhibit ensures participation from all ages. But the juried galleries are my favorite. As an artist myself, I’ve had work accepted in two categories. The categories include painting and drawing, 3D, photography and miniatures. Prizes are awarded, and sales are made within the galleries which benefit the Edmonds Art Festival Foundation as well as the artist.”

To learn more about participating or volunteering, check out the Edmonds Art Festival’s website!

Galleries

Local Lynette Hensley provided us with a list of some must-see galleries, so the next time you’re on an art walk or just out exploring Edmonds, be sure to stop by these art galleries:

Cole Gallery (fine art gallery with emphasis on realistic subject matter)
Gallery North (a Co-op gallery with member artists that place their work and serve as sales crew as well)
Aria Gallery (Joan Archer, watercolor artist)
MaJe Gallery (jewelry and adornment primarily)
Zinc Art + Design (art with a modern sense of style and gifts)

Artists Connect Meeting at Artworks

“Artists Connect is affiliated with Edmonds Art Festival Foundation, and meets monthly at 2nd and Dayton at the ArtWorks building,” says Lynette Hensley. “Artists Connect began with the purpose of supporting local artists, connecting them to each other and creating a space and time for ongoing conversations and support. Twelve years ago, Edmonds Art Studio Tour began because of the connections between members of Artists Connect!”

This wonderful organization helps bring artists from all over the region together. They work to help each other out with whatever another member may need help with, whether it’s sharing resources, creating opportunities to share each others’ work, learning how to grow as an artist, and more. Learn more here!

Studio Tours

“Edmonds Art Studio Tour happens the third weekend every September. Roughly 25 or so Artist participants and some galleries open their home studios all weekend to the public for touring, viewing, some demos, and sales of course,” says Lynette Hensley.

“Many studios have guest artists along with the host artist. The art offered for view is diverse, including bronze sculptures, oil and acrylic paintings, pottery and clay work, jewelry, and anything the creatives of Edmonds and the surrounding areas can cook up.” Learn more about which studios will be participating in the next tour here! We also recommend following the Edmonds Art Studio Tour on Facebook for event updates and reminders, videos from artists, and info on the Edmonds arts scene.

ARTspot Edmonds

This top-notch art store is not only packed with art supplies, but it also offers a wide range of classes and demonstrations as well! Both kids and adults can take art classes here whether you’re interested in learning how to use pastels, finger paint, watercolor, draw, oil paint, etc. Their diversity of offerings is impressive—check out their website to learn more about upcoming classes and events.