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Doug Holman
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Doug Holman’s Real Estate Insider — Fall 2015

October 29th, 2015 by Doug Holman

 

Rainier

Photo credit: Joseph Koenig

Red hot real estate

Summer is over, school is back in session, and as predicted in January, this year’s real estate market has been hot, hot, hot. Leading to the inevitable question, “Can this continue?”

In the words of the recently deceased Yogi Berra, “It’s like deja-vu all over again.” Many newcomers to our region don’t realize that a)  we actually lost a Superbowl in 2005 before we won one and b)  the Seattle real estate market was equally white hot in 2006, just like it is today. The Case-Shiller Index (measures the change in single family home prices), has a reading of 183 today which is on par with January of 2008, just below our pre-recession peak.


 

past present

Current data:

Buyer’s are understandably cautious about buying above the red line, fearful of an impending valley. Sellers don’t want to leave money on the table by waiting too long. The most recent NWMLS figures report that the median single-family Seattle home price of $571,000 (Sept ’15) was 10.44% higher than in September 2014. This 10% increase follows a near 10% increase from 2013. Inventory continues to remain stubbornly low, just a one month’s supply in Seattle.


 

inventory

Crystal ball fine tuning:

So where are we headed? Local tech behemoth and number cruncher Zillow Inc predicts a 6.4 % increase for Seattle single family homes in 2016, lower than year’s past but still above the 3-4% annual appreciation that is considered normal. A stubborn lack of supply and many in-city properties still receiving multiple offers (even as we approach November), suggest there is no reason for the up trend not to continue, albeit at a more gradual pace.


 

Crowd1

population

A final word on 2016:

The Puget Sound Regional Council predicts our area will grow by over one million people in the next 25 years. Our region is a true hub for technology and medicine as well as being a gateway to the east. The current rapid pace of growth is almost certain to slow, but the growth curve is up.


 

New listing in Maple Leaf! $435,000

October 6th, 2015 by Doug Holman

9215 Roosevelt Wy NE, Unit D, Seattle, WA 98115 (MLS # 854125)

(all data current as of 11/25/2017)

Listing provided by Real Property Associates, sold by Coldwell Banker Bain

Price $480,000
Beds 3
Baths 1 full, 1 three-quarter, 1 half
Home size 1,285 sq ft
Lot Size 1,285 sqft
Days on Market 36
Status Sold
Listing provided by Real Property Associates, sold by Coldwell Banker Bain
Like new 3 bed, 2.5 bath Craftsman style t-home in coveted Maple Leaf. Easy walk to local establishments incldg Seattle's best new Park. Hardwood floors thru-out main incldg light filled living rm w/gas fireplace & tile surround. Adjacent dining rm & cook's kitchen w/slab granite counter-tops, cherry cabinets & tile back splash. Two bedrooms on upper level, both w/cathedral ceilings, good closet space & access to full bath with granite vanity top & tile tub surround. Nice yard & NO HOA dues!

Property Type(s): Residential

Last Updated 11/9/2015 Tract n/a
Year Built 2008 Community Maple Leaf
Garage Spaces 1.0 County King
Total Parking 1 Walk Score ® 69

Listing information deemed reliable but not guaranteed. Read full disclaimer.

(view all details for MLS #854125)

YOU MUST: Keep it, store it, or shred it

December 19th, 2014 by Doug Holman

One of my greatest joys that costs “nuthin” is getting rid of old tax returns and all of the supporting documents that goes along with them.  Don’t get the wrong idea, I’m not saying our tax return is “soooo” complicated because we’ve got “soooo” much stuff going on.  We are not the west coast Trumps.  But I am self employed and we do have a few rental properties.  Those two things together mean itemized deductions and ongoing expenses for both my real estate business and the rental properties.  Which means paperwork. Bleah!

So every year about this time when things slow down at work,  I start purging my office of unnecessary clutter and pointless paperwork.  My 2013 return has been filed (right at the extension deadline) so now I can PURGE anything more than 3 years old, my 2011 return and the crud that goes with it.

Or can I?  Cathy Clayton, title rep extraordinaire from Commonwealth Title says “not so fast.”  Bank statements?  7 years sir.  Same for cancelled checks.  Ack!  Argh!  What?

Perhaps you too should review the handy reference below and tuck it away for your purge of the home office.

Merry Christmas and Happy holidays all.

keep, store, shred

Micro celebrities

December 15th, 2014 by Doug Holman

Thank you to Amy Luu for being a part of our Zillow Video which will “air” in Zillow home searches for 98155.

 

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