Monday, February 26, 2018

Homeowner Stabilization Loans

Here is a great new program to help homeowners in distress:
HomeSight is pleased to announce the launch of the Seattle Homeowner Stabilization Loan Program. We have received a $484,000 investment from the City of Seattle - Office of Housing Housing Levy to originate foreclosure prevention “rescue loans” to help homeowners in jeopardy of losing their home. These funds are for a two-year pilot period at which time the City will decide whether to continue the program.
Homeowners experiencing temporary hardship or facing default or foreclosure whether from mortgage lender, property taxes or a condo association, may qualify for a low interest rescue loan up to $30,000 to help resolve the default. These loans will generally be available to owners who have fallen behind in payments and have exhausted other options and need assistance getting caught up, or who need additional funds in order to secure a loan modification, pay back taxes or condo dues.
For more information, or to find out if you qualify, contact:

Sunday, February 4, 2018

Waterfront Fixer

Here is my newest property listing:

View any time this morning with your real estate broker, but without an appointment - or any time after today, by appointment only.

Major fixer with awesome views!

Happy Investing!

Thursday, December 21, 2017

Changes in Seattle Housing Market

The Seattle Real Estate Market – WHERE TO START???
I don’t even know where to start!  So much housing related info came out this week…  I guess I’ll just let the bullet points tell the story:
·         Seattle passed sweeping short-term rental laws
o   Hosts for AirBnB, VRBO, HomeAway, and other short term rental platforms can now only rent out two dwelling units (including a room in the host’s primary residence)
o   Hosts must now be licensed, which means they will likely be taxed by the local government for operating a short-term rental
o   Overall, this should help preserve an adequate supply of long-term rental stock for the city’s permanent residents
§  Effect on local housing market – Neutral
·         Amazon hiring has slowed dramatically
o   As recently as June, Amazon had over 9,000 job postings for Seattle-based jobs…There are only 3,503 postings for jobs currently
o   This is the fewest Seattle-based job postings Amazon has had in almost 4 years
o   Nonetheless, the 3,503 postings is still more than the combined postings for Microsoft, University of Washington, Nordstroms, and Starbucks
§  Effect on local housing market – Slightly not good… but an additional 3,500 highly paid employees still adds a lot of pressure on an already pretty tight housing market (currently 458 homes for sale out of 129,331 total single family residences), so we may not notice a difference.  Nonetheless, it’s something to keep an eye on
·         New Tax Plan
o   Interest deduction on home equity lines of credit goes away
§  Effect on local housing market – Neutral
o   Interest deduction on mortgages up to $750,000 (used to be up to $1,000,000)
§  Effect on local housing market – Slightly not good
o   State and local taxes (SALT) deductions capped at $10,000
§  Effect on local housing market – Slightly not good
o   There was no change in the requirement for people to qualify for the gain-exclusion on sale of a personal residence.  It was talked about that the current gain-exclusion of living in the house 2 out of the last 5 years was going to increase to 5 out of the last 8, but that didn’t happen. 
§  Effect on local housing market – If the gain-exclusion increased to 5 out of the last 8 years, then we would have less sellers, and therefore prices would rise.  However, nothing happened, so housing is unaffected
·         Overall, the new tax plan will put downward pressure on higher priced homes.  Seattle’s current median home price is $754,000…  so the vast majority of us aren’t affected yet (since a homebuyer did put some money down on that $754,000 purchase price), but the tax plan could play a larger role in the next couple years as Seattle home prices continue to appreciate

Saturday, November 18, 2017

Renton Open House Sunday

Here is my latest listing in Renton. This lovely suburban home is open tomorrow (Sunday November 19, 2017) from 1-3p. It is located at 18858 129th Pl SE, and is listed for $400,000.

Friendly suburban community with annual neighborhood events, including Easter egg hunts, garage sales, beauty bark sales in nearby park. This lovingly maintained home has a long-term roof warranty, updated kitchen, new carpets, laminate flooring, lots of space to play, and a fully fenced yard. Welcome to the neighborhood!

NWMLS #1218245

Happy Investing!

Wednesday, November 15, 2017

South Seattle Brick House for Sale

We are reviewing offers on this property today:
Address: 6724 Mars Ave S, Seattle 98108
List Price: $549,888

Monday, October 16, 2017

Housing Trends

Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general. 

Please click on this link to view the Housing Trends October 2017 Newsletter 

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, reports and other sources. 

Housing Trends eNewsletter is filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, consumer videos, blogs, real estate glossary, mortgage rates and calculators, consumer articles, and local community reports. 

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report: 

Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future. 

Sincerely yours, 

Wendy Ceccherelli
Century 21 NW Realty
216 31st Avenue Seattle WA 98122 

Friday, September 15, 2017

Seattle Housing Inventory

Normally we see a pretty nice little bump in inventory in September, however, I’m not entirely sure that’s going to happen again!  We saw a HUGE run up in Seattle inventory between April and late June (about an 80% increase in inventory during that time), however, since peaking in August we’ve been on a pretty sharp decline in overall inventory levels.  That doesn’t mean things won’t start hitting the market in late September like they normally do, this early decline in inventory is merely representative of the gigantic build-up of buyers still looking for a home, and refocusing on their search now that Summer and Labor Day are over.

With the recent decline in overall inventory, we’ve also seen the median priced home in Seattle tick back upward from $699k in late August, to $722k this past week.  Please note, the Seattle median price home peak for the year was set in mid May at $777,475.  It will be interesting to see whether or not prices continue to increase throughout fall and winter, and then increasingly so next spring; versus what normally happens where prices remain steady until January when they start skyrocketing. 

In the end, it looks like the stage is being set for an even more competitive market next year with inventory levels plummeting earlier than normal as Fall’s buyer-pool snatches up homes more fiercely than ever before. 

Happy Investing!

Today's market report courtesy of Kyle Bergquist, Guild Mortgage