A Home’s Cost vs. Price Explained

We have often talked about the difference between COST and PRICE. As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first time or repeat buyer, you must not be concerned about price but instead about the ‘long term cost’ of the home. Let us explain.

Recently, we reported that a nationwide panel of over one hundred economists, real estate experts and investment & market strategists projected that home values would appreciate by approximately 8% from now to the end of 2015.

Additionally, Freddie Mac’s most recent Economic Commentary & Projections Table predicts that the 30 year fixed mortgage rate will be 5.7% by the end of next year.

What Does This Mean to a Buyer?

Here is a simple demonstration of what impact these projected changes would have on the mortgage payment of a home selling for approximately $250,000 today:

If you are considering a home purchase or home sale, give us a call, text or email. We work with you through the entire process, from sale to sold!

​​-Steve and Sandra

206-769-9577
stevehill@windermere.com

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Posted on April 7, 2014 at 4:20 pm
Steve Hill | Category: Seattle Real Estate | Tagged , , , , , , , , , ,

Sunday Open House! 11715 N Park Ave N Seattle WA

11715 N Park Ave N
Seattle WA 98133

OPEN SUNDAY 1PM-4PM

This one-owner home boasts light-filled spaces and convenient floor plan. The large kitchen opens to eating nook and family room with vaulted ceiling and gas fireplace. Entertain in the sunken living room which is distinguished by a cathedral ceiling and a large wall of windows. The dining room is highlighted by bay windows and a coved ceiling. The owner's suite features bath and walk-in closet. Outside of this fully landscaped home, enjoy the backyard with patio, deck and waterfall with pond. More details online at: AtHomeInBroadview.com

Stop by Sunday and see this charming Seattle home.

If you are looking for a home in the Seattle area, look no further than Steve and Sandra. We are Washington natives who are proud to call the Puget Sound area home. From searching for a home to closing, we will be with you every step up the way!

??-Steve and Sandra

206-769-9577
stevehill@windermere.com

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BrennerHillReviews.com

Posted on April 5, 2014 at 5:01 pm
Steve Hill | Category: Seattle Real Estate | Tagged , , , , , , , , , ,

Seattle Area Real Estate Statistics

Get your customized real estate stattistics market trends report right HERE! Pick any loaction you want for updates on real estate statistics in your neighborhood or any other area you are curious about.

Thinking about buying or selling a home? Give us a call, text or email. We are here to assist you every step of the way, you won't be passed off to assistants!

??-Steve and Sandra

206-769-9577
stevehill@windermere.com

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BrennerHillReviews.com

Posted on April 5, 2014 at 5:00 pm
Steve Hill | Category: Seattle Real Estate | Tagged , , , , , , , , , , ,

Open Saturday! 11715 N Park Ave N Seattle WA

11715 N Park Ave N
Seattle WA 98133

OPEN SATURDAY 1PM-4PM

This one-owner home boasts light-filled spaces and convenient floor plan. The large kitchen opens to eating nook and family room with vaulted ceiling and gas fireplace. Entertain in the sunken living room which is distinguished by a cathedral ceiling and a large wall of windows. The dining room is highlighted by bay windows and a coved ceiling. The owner's suite features bath and walk-in closet. Outside of this fully landscaped home, enjoy the backyard with patio, deck and waterfall with pond. More details online at: AtHomeInBroadview.com

Stop by Sunday and see this charming Seattle home.

If you are looking for a home in the Seattle area, look no further than Steve and Sandra. We are Washington natives who are proud to call the Puget Sound area home. From searching for a home to closing, we will be with you every step up the way!

-Steve and Sandra

206-769-9577
stevehill@windermere.com

BrennerHill.com
BrennerHillReviews.com

Posted on April 4, 2014 at 5:00 pm
Steve Hill | Category: Seattle Real Estate | Tagged , , , , , , , , , ,

The #1 Reason You Should Sell Your Seattle Area Home Now!

The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. Putting your home on the market now instead of waiting for the increased competition of the spring might make a lot of sense.

Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory available in most markets currently, a seller will be in a great position to negotiate.

If you are considering selling your home, give us a call, text or email and let us help you sell you home quickly and most importantly, for top dollar!

-Steve and Sandra

Steve Hill and Sandra Brenner
Windermere Real Estate/FN
Seattle-Northwest
122502 Greenwood Ave N
Seattle WA 98133
call/text: 206-769-9577
email: stevehill@windermere.com

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Posted on January 13, 2014 at 3:49 pm
Steve Hill | Category: Seattle Real Estate | Tagged , , , , , , , , , ,

Wealthy Pick Real Estate Over the Stock Market

luxury deckWe are taught from birth that the quickest way to achieve a goal is to seek out those who have already accomplished the goal and do what they do. Interested in creating wealth? It seems the wealthy trust real estate as an investment before even the stock market.

A recent survey revealed that 75 percent of luxury homebuyers believe homeownership is a more sound investment than the stock market. The study also reported 57 percent of employed luxury homeowners believe homeownership is a bigger indicator of success than their job or title.

Want to join the wealthy? Give us a calll and let us help you invest in real estate.

Check out the latest Seattle Real Estate Statistics HERE.

Steve Hill and Sandra Brenner
Best In Client Satisfaction
Windermere Real Estate
BrennerHill.com
call/text 206-769-9577

Our Preferred Lender:
George Runnels
Washington First Mortgage
WaFirstMortgage.com
call/text: 206-604-4545

 

Posted on September 18, 2013 at 1:37 pm
Steve Hill | Category: Seattle Real Estate | Tagged , , , , , , ,

Buyers Beware: Seattle Real Estate Inventory Levels at a Critical Low

Seattle area real estate levels are at a critical low for home buyers. As we move into the Spring 2013 home buying season, the amount of homes for sale will be less than half of those available in the Spring 2012 market. The culmination of low inventory and low interest rates have pushed our market into a buying frenzy with a high percentage of homes for sale entering multiple offers.

Check out Seattle real estate market statistics HERE.

If you are looking for a new home or would like usful advice about selling your home, give us a call, we are ready to assist you in the competitive real estate market.

 


Steve Hill and Sandra Brenner
Windermere Real Estate Seattle Northwest
206-769-9577

Posted on March 11, 2013 at 5:54 pm
Steve Hill | Category: Seattle Real Estate | Tagged , , , , , , ,

Now is the Time to Buy: Low Inventory and Low Interest Rates

Now is the Time to Buy:
Low Inventory and Low Interest Rates

Real estate has taken a hard hit along with the economy the past couple of years, with varying inventory and interest rates fluctuating often. This past quarter has shown an improvement in low interest rates as well as inventory. As sales rise, prices rise along with them, opening up the opportunity for growth in real estate.

Lower inventory rates are better for the market. When the market was struggling, there were too many houses for the level of demand. Now that the inventory rate is lowering, more people are purchasing real estate which will cause an increase in home pricing, but only modestly. Lower inventory also pushes people to widen their budget and expand their home search to new areas they weren’t considering before. 51% of buyers started looking in other areas because of the lower inventory, and 34% of buyers said they were willing to increase their budgets.

Inventory levels haven’t been as low as they were for February since 1985, with the average days on the market up slightly. There have been more property closings in February than in the previous month. Purchasing a home is a bargain compared to renting because houses are roughly 30% below their peak prices.

Interest rates are lower, with a national average of 3.53%. As the economy grows, interest rates will stabilize. Lower interest rates help new home buyers and bad credit owners get the money they need and be able to afford the payments on the real estate property. Borrowing costs are down 20% and mortgage rates are at an all-time low. As the year progresses, interest rates are expected to stay low with the inventory levels.

With lower interest rates and lower inventory, now is the time to jump into real estate and buy. This year will continue to make improvements in the real estate market, with more buyers and lower inventory to make prices rise moderately.

About the Author:

Florida Realty Group is pleased to bring you this informative article. They primarily specialize in luxury homes, condominiums and townhomes located throughout south Florida. Florida Realty focuses largely in Fort Lauderdale Real Estate and Coral Springs Real Estate areas.
 


If you are considering buying or selling a Seattle area home, give us a call, we would love to talk with you today.
 

Steve Hill and Sandra Brenner
Windermere Real Estate Seattle Northwest
206-769-9577

Posted on March 9, 2013 at 11:54 am
Steve Hill | Category: Seattle Real Estate | Tagged

The Seattle Real Estate Market is Hot!

Home prices show strongest growth in 7 years

NAR: Nearly 9 out of 10 metro areas posted annual gains in Q4

 

The median home price nationwide saw its biggest jump in seven years last quarter as for-sale inventory hit its lowest level in 12 years, according to a quarterly reportfrom the National Association of Realtors.

Of 152 metro areas, 133 (87.5 percent) saw their median sales prices rise year over year in fourth-quarter 2012 compared with 120 in the third quarter and only 29 in fourth-quarter 2011.

Nationally, the median sales price jumped 10 percent on an annual basis, to $178,900 — the strongest annual price increase since fourth-quarter 2005 when the median rose 13.6 percent, NAR said.

"Home sales are on a sustained uptrend; mortgage interest rates are hovering near record lows; and unsold inventory is at the lowest level in 12 years," said Lawrence Yun, NAR's chief economist, in a statement. 

"Home sales are being fueled by a pent-up demand and job creation, along with still favorable affordability conditions and rents rising at faster rates. Our population has been growing faster than overall housing stock, so supply and demand dynamics are very much at play," Yun said.

More housing construction is needed to relieve some of the pressure in the market and keep home prices from overheating, Yun added.

Inman News®

For more information on the Seattle Real Estate Market, give us a call.

Steve Hill and Sandra Brenner
Windermere Real Estate Seattle Northwest
206-769-9577

Posted on February 14, 2013 at 9:54 pm
Steve Hill | Category: Seattle Real Estate | Tagged

Low housing inventory makes it a seller’s market in Seattle

It's A Seller Market in Seattle

by MEG COYLE / KING 5 News

So much for Seattle's housing slump. It's a sellers' market these days.

According to zillow.com, metro home values rose 6.5 percent in the past year and are expected to rise another 4.6 percent this year. You can thank low interest rates and rising home values.

"When we decided to sell, the real estate man said, 'do you want to go on the market now?'" recalls Lou Watne. "We said sure."

That was right before Christmas. One week later.

"And we got three offers," says Watne.

So they now find themselves carefully wrapping up their 43 years in their northeast Seattle home. Their timing couldn't be better. Inventory is so low, buyers aren't always waiting for homes to hit the market.

"Got lots of buyers, don't have anything to show them at this point," says realtor Tim Lenihan with Windermere Real Estate.

What would it take for you to sell your house even it's not on the market? Many homes on Zillow have a "make me move" price. And even though it's often above what it's worth, Linehan is still interested.

"It's a shot in the dark but I feel like I'm at least trying to find my clients other avenues besides what's on the multiple listing service."

Linehan hasn't made anyone move just yet. But nothing is off the table.

Unless you're the Watnes, capitalizing on a housing market that looks to be on the way up.

"43 years enjoying your house has to count for something," says Watne.

Zillow Sr. Economist, Svenja Gudell released a statement, saying there are a few factors that are driving low inventory numbers in the Seattle area.

"For one, negative equity is still relatively high in the metro, at 34.2 percent. This means that some homeowners who want to sell aren’t able to, unless they bring money to the closing. Additionally, some homeowners don’t want to sell this close to the bottom, and would rather wait for home values to increase further before selling their home. On the demand side, we have seen both consumer and investor activity increase, which translates into shorter time periods for homes to stay on the market. In fact, the Seattle metro is a sellers’ market according to Zillow’s recent Buyer/Seller Index analysis, meaning homes in the Seattle metro are on the market for a shorter amount of time, there is a low percentage of homes with a price cut, and the sale-to-list price ratio is relatively high. These conditions paired with low interest rates and rising home values (metro up 6.5% annually) gives you the recipe for tight inventory in the area. "

It's not just Seattle seeing high demand and low inventories. Zillow compiled a forecast for 2013 of the hottest cities and neighborhoods in Western Washington.

For more information about the Seattle area real estate market, call Steve Hill and Sandra Brenner, Windermere Real Estate Seattle-Northwest 206-769-9577.

Posted on February 12, 2013 at 9:55 pm
Steve Hill | Category: Seattle Real Estate | Tagged

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