From Cap and Gown to Community Service

From Cap and Gown to Community Service

Posted in Community, Perspectives, and Windermere by Jill Jacobi Wood, OB Jacobi & Geoff Wood

Like many of you, our family has a high school student graduating soon who is both eager and excited to embark upon life’s next phase. It wasn’t all that long ago that for graduates, like ours, community service was something they did to pad their college applications, but now this important exercise is a requirement at most high schools. That’s because a common belief is that community service links together the academic, social, and emotional elements of learning while giving kids the chance for personal growth through helping others. And hopefully those same kids will grow into adults who will continue to be engaged, positive citizens in their community.

 

This is a philosophy that we believe in wholeheartedly at Windermere. That’s why every year our offices close their doors for one day to help make a positive difference in their communities. It all started in 1984 with a handful of agents who came together to help out a local elementary school that needed some TLC. Thirty-three years and more than one million hours of community service later, we’ve continued this tradition through neighborhood-enhancing projects in the areas where our Windermere teams live, work, and play.

 

We agree that community service shouldn’t end with a cap and gown. Over the years, our team has proven this time and time again by embodying the notion that service to others is not something you do, it is who you are.

 

On Friday June 9, Windermere offices throughout the Western U.S. will close their doors for our company-wide Community Service Day. You can follow their projects on our Facebook page: www.Facebook.com/WindermereRealEstate.

Posted on June 2, 2017 at 5:04 pm
Carl Peterson | Category: Gig Harbor Real Estate, Real Estate, Windermere | Tagged , , , , , , , , , , , , ,

Western Washington Real Estate Market Update

Western Washington Real Estate Market Update

Posted in Market News and Western Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate

 

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.

 

 

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.

Posted on May 17, 2017 at 11:06 pm
Carl Peterson | Category: Gig Harbor Real Estate, Homes, Real Estate, Windermere | Tagged , , , , , , , , ,

The Windermere Foundation By The Numbers

For the past 28 years, the Windermere Foundation has been helping those in need in our communities through donations to local organizations that provide services to low-income and homeless families. In 2016, the Windermere Foundation raised over $2.2 million in donations, bringing the total to over $33 million raised since it started in 1989.

Last year, 35 percent of the donations to the Windermere Foundation came from agent commissions. That’s because every time you use a Windermere agent to buy or sell a home, they make a donation to the Windermere Foundation. The other 65 percent came from additional donations made by Windermere agents, employees and the community. Because of these donations, the Windermere Foundation was able to fulfill 664 grants and help 410 organizations that provide help to those in need.

And every dollar donated is put to good use! As you can see from the infographic below, even small donations make a big impact and help us fund things like food bank meals, school supplies for underprivileged students, and resources for children in crisis.

Posted on February 24, 2017 at 11:33 pm
Carl Peterson | Category: Gig Harbor Real Estate, Homes, Real Estate, Windermere | Tagged , , , , , ,

Gig Harbor and Fox Island Median Sales Price

5 Year Trend for Gig Harbor and Fox Island Median Sales Price. Click the link below to see more.

http://nwmls.stats.showingtime.com/infoserv/s-v1/Qrk1-sf8

Call us for more information!

Posted on January 18, 2017 at 6:15 pm
Carl Peterson | Category: Gig Harbor Real Estate, Real Estate, Windermere | Tagged , , , , , , , , , , ,

Windermere Real Estate #tacklehomelessness

In partnership with the Seattle Seahawks, Windermere has donated $100 for every home game tackle this season to YouthCare to help #tacklehomelessness As the season comes to a close, we’ve decided to up the ante, so we’re donating an additional $54 for every tackle made by our favorite #54, Bobby Wagner, who currently leads the NFL in tackles.  This beings us to a grand total of $35,000 which will go towards funding essential services for homeless youth.  Congratulations to our Seahawks for a great season and thank you for helping us #tacklehomelessness.  Good Luck in the Playoffs!

Windermere Tackle Homelessness $35,000

Posted on January 6, 2017 at 10:14 pm
Carl Peterson | Category: Gig Harbor Real Estate, Real Estate, Windermere | Tagged , , , , , , , , , ,

Total Raised To Date $17,900

#tacklehomelessness

For each Seahawks home game tackle this season, we are making a $100 donation to YouthCare, a local nonprofit that provides services and support to homeless youth.  Yesterday’s game helped deliver another $2,500 to help #tacklehomelessness resulting in a total of $17,900 delivered so far this year! Congratulations to the Seahawks on another great WIN!!

Posted on December 5, 2016 at 8:48 pm
Carl Peterson | Category: Gig Harbor Real Estate, Real Estate, Windermere | Tagged , , , , , , , , , ,

Western Washington Real Estate Market Update

gardner

ECONOMIC OVERVIEW

Annual employment growth in Washington State slowed somewhat in the third quarter of this year, but still remains well above the long-term average. Additionally, the jobs that are being created are primarily quality, high-paying positions, which is important for the health of our economy.

Unemployment in the state remains at levels that are somewhat higher than I would like to see, but this continues to be impacted by a growing labor force and modestly slowing job growth. I still expect to see the rate drop a little further as we move through the final quarter of the year.

 

HOME SALES ACTIVITY

  • There were 24,277 home sales during the third quarter of 2016—up by an impressive 7.9% from the same period in 2015, and 6.8% above the total number of sales seen in the second quarter of this year.
  • Skagit County saw sales grow at the fastest rate over the past 12 months, with transactions up by 25.6%. There were also impressive increases in home sales in Thurston, San Juan, Pierce, and Grays Harbor Counties. Sales fell slightly in Jefferson and Kittitas Counties.
  • Overall listing activity remains low with the total number of homes for sale at the end of the quarter 11.2% below that seen a year ago. That said, I’m happy to report that listings have been slowly trending higher in 2016.
  • I’ve been thinking about how sales can continue to rise while inventory remains so low. I believe this is due to an uptick in first-time buyers. These buyers have no home to sell, so they don’t add to the number of listings; however, they do cause sales to increase when they buy. This is a good trend to see!

 

HOME PRICES

  • As demand continues to exceed supply, we are continuing to see upward pressure on home prices. In the third quarter, average prices rose by a substantial 10.2% and are 3.2% higher than seen in the second quarter of this year.
  • The current rate at which homes are appreciating cannot continue, and I anticipate that we will see a “cooling” start to take place in 2017.
  • When compared to the third quarter of 2015, price growth was most pronounced in Lewis County. In total, there were nine counties where annual price growth exceeded 10% and prices were higher across the entire region when compared to a year ago.
  • Although supply levels are slowly starting to creep higher, we are still solidly in a seller’s market. Rising inventory levels should start to do a better job of meeting demand next year, which when combined with modestly higher mortgage interest rates, will see the region move closer toward becoming a balanced market.

 

 

DAYS ON MARKET

  • The average number of days it took to sell a home dropped by twenty-two days when compared to the third quarter of 2015.
  • All the counties that comprise this report saw the length of time it took to sell a home drop.
  • In the third quarter of 2016, it took an average of 52 days to sell a home. This is down from the 74 days it took in the third quarter of 2015, and down from the 67 days it took in the second quarter of this year.
  • King and Snohomish Counties remain the only two markets where it took less than a month to sell a home. Even though King County saw days on market rise slightly from 18 to 20, it remains the hottest market in the region.

 

CONCLUSIONS

This speedometer reflects the state of the region’s housing market using housing inventory, price gains, sales velocities, interest rates, and larger economics factors. For the third quarter of 2016, I am moving the needle very slightly toward the buyers. This is entirely due to the recent increase in inventory levels that I believe will continue through the rest of the year. That said, the region remains steadfastly a seller’s market.

 

 

 

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

Posted on November 1, 2016 at 5:08 pm
Carl Peterson | Category: Gig Harbor Real Estate, Real Estate, Windermere | Tagged , , , , , , , , , ,

#tacklehomelessness

Way to go Hawks! This week we are donating $2,500 to our partners at YouthCare to help #TackleHomelessness. As the Official Real Estate Company of the Seattle Seahawks, we’re donating $100 per Seahawk’s home game tackle. So far this year we are giving $8,200 to provide essentials for homeless youth. #tacklehomelessness

tackle

Posted on October 17, 2016 at 10:53 pm
Carl Peterson | Category: Gig Harbor Real Estate, Real Estate, Windermere | Tagged , , , , , , ,

What’s It Worth?

Maybe you’re thinking of selling, maybe you’re thinking of refinancing, or maybe you’re just curious about the market. But the question is, “What is that domicile of your’s worth?”

Such a simple question should be returned with a simple answer, right? Well unfortunately, determining the value of your home–or any home for that matter–can be a tricky process. You can go online and nowadays there are endless websites that will promise you a fast answer with fancy charts and graphs. As tempting as it may be to trust this information, be wary of letting a computer program tell you what your largest investment is worth.

The trouble with these websites is that they have little to no local market information. They are not aware that a new park is being built, or that a four-lane highway is being re-routed, or that you’ve lovingly cared for and maintained your home.

The bottom line is this: If you’re serious about getting an informative valuation for your home you should contact a local real estate professional. These professionals work with the actual people who will ultimately determine the value of your home–the home buyer themselves. This is their profession and they will be happy to sit with you and explain the current market conditions that affect your home value.

Posted on September 27, 2016 at 6:18 pm
Carl Peterson | Category: Gig Harbor Real Estate, Home for Sale, Homes, Real Estate, Windermere | Tagged , , , , , , , , , , , , , , , , , , , ,

#tacklehomelessness

#tacklehomelessness

As the Official Real Estate Company of the Seattle Seahawks we are excited to announce the #WindermereFoundation will be donating $3,100 to YouthCare from yesterday's game as a part of our shared goal to#TackleHomelessness. For each home game tackle by the Seahawks, Windermere will donate $100 to help provide essential services and support for homeless youth.#12s #GoHawks #nfl #windermereblue #seahawks

Posted on September 12, 2016 at 9:17 pm
Carl Peterson | Category: Real Estate, Windermere | Tagged , , , , , , ,