Windermere and the Seattle Seahawks have come together to help #tacklehomelessness in our community.
As part of that campaign, offices on the Eastside are participating in Windermere’s “We’ve Got You Covered” winter drive.
From October 17 through November 14, we are collecting new hats, scarves, gloves/mittens, and warm socks for YouthCare, a non-profit that provides support and services to homeless youth throughout the Puget Sound area.
Each night in Seattle, nearly 1,000 young people are homeless. Please help them stay warm during the cold winter months by dropping off your donation to one of our offices during the drive.
Eastside Windermere Office Locations
- Bellevue Commons
- Bellevue South
- Bellevue West
- Kirkland Central
- Kirkland Yarrow Bay
- Kirkland Totem Lake
- Mercer Island
At a time of year when sales traditionally slow down, September saw particularly strong sales growth. Home prices rose yet again compared to the same time last year, but they remain below the peak of several months ago. And inventory, while still low, is at its highest level in two years. The local real estate market continues to be one of the hottest in the country, but there are signs that prices may be rising more slowly than they did in the first half of the year.
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Home prices on the Eastside remain very strong. The September median price of $750,000 was a healthy 10 percent increase over last September. Inventory remains very low with just over a month supply of homes. Demand in this sought-after market continues to overwhelm the number of properties available for sale.
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Think you can’t afford to buy a house? There are a number of programs that can help make the dream of buying a home a reality.
- You don’t need to put 20% down. Fannie Mae and Freddie Mac have down payment requirements as low as 3%. If you’re a vet or active military, a VA loan requires no down payment.
- Your family can help with your down payment. Fannie Mae’s HomeReady Mortgage allows a down payment of just 3%, and income from grandparents, parents, relatives, and working children can be used to help qualify for the loan.
- You don’t need perfect credit. To qualify for an FHA loan, your credit score needs to be just 500 or higher. FHA loans allow a down payment as low as 3.5%, and that payment can come entirely from “gift funds.”
- BIG PLUS: There are a number of down payment assistance programs in…
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Home prices are still on the rise compared to a year ago, but there is some indication that prices are moderating. Combine that with an increase in inventory and we may be seeing some relief for buyers. Time will tell whether this is a momentary breather, or if we’re slowly moving to a more balanced market.
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Home to the highest concentration of luxury homes in the state, the Eastside continues to be the highest priced region of King County. Median home prices here were up 10 percent over last July to $750,400. That is down from the May peak of $760,000, and virtually unchanged from June. Buyers looking in this desirable market may be seeing the start of easing home prices.
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Washington State continues to see strong employment growth, outpacing national numbers with an annual rate of more than 3%. Interestingly enough, despite these substantial job gains, the unemployment rate remains stubbornly high at 5.8%. However, I’m not overly concerned about this because it’s largely due to a growing labor force rather than a declining job market. This means that those who are unemployed who had previously stopped looking for work are now resurrecting their job searches because they have confidence in the economy.
I expect to see a modest drop in the unemployment rate through the balance of the year, and believe we will continue to outperform the nation as a whole with above-average job gains.
Home Sales Activity
- There were 22,721 home sales during the second quarter of 2016, up by 4.4% from the same period in 2015. We finally saw a much-needed increase in listings, which…
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To say that Windermere has a lot of Seahawks fans would be an understatement. That’s why we are so excited to announce that we are now the “Official Real Estate Company of the Seattle Seahawks”!
At the center of this partnership with the Seahawks is a new #tacklehomelessness campaign in which the Windermere Foundation will donate $100 for every Seahawks tackle at home during the 2016 season. On the receiving end of these donations is YouthCare, a Seattle-based non-profit organization that has been providing services and support to homeless youth from across Puget Sound for more than 40 years. Since 1989, the Windermere Foundation has donated over $30 million to non-profits that support low-income and homeless families, so partnering with YouthCare and the Seahawks on the #tacklehomelessness campaign is a perfect fit for us.
“We are proud to partner with Windermere, an iconic and locally-based company with a deep…
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