Sound View Home Listings

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Elegant custom craftsman, 3 level, 4,000 sq. ft. home privately sited in Old Town. Great room living area, custom kitchen w/large island, granite counters, cherry cabinets, S/S appliances, walk-in pantry and hardwood floors. Stone surround gas fireplace and 2 decks off formal living room. Open view dining area & family room. Main level master suite has walk-in closet, 5 piece bath with jetted tub, Travertine tile shower and patio. Laundry room close to 4 bedrooms. Possible M-I-L lower level or media room/office w/sound system, deck & full bath; permittable accessory dwelling unit. 3 stop elevator, instant hot water, security system, skylights, air filtration, tile roof, long 2 stall garage. Park-like terraced yard & gardens. Close to ferry, beach, shops, Sounder, Boeing & freeways! Express bus to University of Washington. Mukilteo School District. NWMLS 1121140 $1,099,000

Price reduced to $515,000! Partial Sound view from spacious, historic North Everett craftsman! Home has exposed beams, wood baseboard & window trim. Sunroom entry can be enjoyed year round. 9 ft ceilings in formal living room has statement built-in bookcases with leaded glass cabinets & brick fireplace. French doors lead to a bright den/office off formal dining room. Leaded glass china cabinet built-in leads into country kitchen with large farm sink. Sound view, huge bonus room (possible view master suite) on upper level. Basement is large with potential and has separate entrance. Newer electric furnace and A/C. New interior and exterior paint, hardwood floors, skylight and fenced yard. Off-street and plenty of room for RV parking. Close to parks, waterfront, hospital and shops. NWMLS 1121385 

The Advantage of 3D Virtual Tours

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There is new technology making it easier to view homes without ever stepping foot on the property.  These Matterport cameras can take 360 degree shots of almost every room in a home and make you feel like you are there experiencing a tour.  You can easily follow the marks and move through a home, see the views, details and flow all from your computer, tablet or phone.  It is adding a piece for Sellers to market and creating a new way for Buyers to engage their interest and potentially make the decision to buy a property.

Our latest listing to go on the market is a 4,000 sqft, 4 bedroom/3.5 bath, 3 level home in Old Town Mukilteo with stunning Sound, ferry and sunset views and even an elevator!  The dollhouse model can provide Buyers a complete picture of this home from every angle; they can see into any room or look at the floor plan of each level laid out and they can view it as many times as they want without time constraints or the pressure of taking everything in at once.  Take a look at 634 Park Ave., Mukilteo online. If after taking the virtual tour, you’re interested in the home or have qualified buyers, and would like to schedule an in person tour, please let me know.

634 Park Ave., Mukilteo WA 98275

The Current Real Estate Market: A Daily Recap

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Here you can see the real estate market with current daily accounts of homes listed and sold in King County and Snohomish County. Want a closer look at your neighborhood? Click the link and see specific data for your area. If you are interested in buying or selling, I would be happy to help find you your next home or get you top dollar for your current home.

Council of Residential Specialists

crsdeEarned my CRS designation! 25 years working with Buyers and Sellers to meet their real estate needs in our local market with over 500 transactions and additional education courses. More training can mean a bigger advantage in our market! I’d be happy to assist you or a friend you refer with buying or selling their next property!

Important Step to Buy: Get Pre-Approved

Pre-Approval Should Always Be Your First Step | Keeping Current Matters

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach. Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”  Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.

Supply & Demand: Good Time to Sell

The National Association of Realtors (NAR) recently released the findings of their Q2 Homeownership Opportunities and Market Experience (HOME) Survey. The report covers core topics like, “if now is a good time to buy or sell a home, the perception of home price changes, perceived ability to qualify for a mortgage, and [an] outlook on the U.S. economy.” The survey revealed that 75% of homeowners think now is a good time to sell, compared to 70% last quarter. This is a considerable increase from more than a year ago when 66% agreed. Even though homeowners believe that now is a good time to sell, many have not taken the step to list their homes, as inventory shortages still exist across the country. Lawrence Yun, NAR’s Chief Economist, had this to say:

“There are just not enough homeowners deciding to sell because they’re either content where they are, holding off until they build more equity, or hesitant seeing as it will be difficult to find an affordable home to buy… As a result, inventory conditions have worsened and are restricting sales from breaking out while contributing to price appreciation that remains far above income growth.”

Great Time to Sell

We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. Two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house.

Let’s look at the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report.

REALTORS® CONFIDENCE INDEX

Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that home-buying demand continued to outpace supply in May.

The map below illustrates buyer demand broken down by state (the darker your state, the stronger the demand is there).

NAR Data Shows Now Is a Great Time to Sell! | Keeping Current Matters

In addition to revealing high demand, the index also mentioned that “compared to conditions in the same month last year, seller traffic conditions were ‘weak’ in 24 states, ‘stable’ in 25 states, and ‘strong’ in D.C and West Virginia. 

Takeaway: Demand for housing continues to be strong throughout 2017, but supply is struggling to keep up, and this trend is likely to continue into 2018.

THE EXISTING HOME SALES REPORT

The most important data revealed in the report was not sales, but was instead the inventory of homes for sale (supply). The report explained:

  • Total housing inventory rose 2.1% to 1.96 million homes available for sale
  • That represents a 4.2-month supply at the current sales pace
  • Unsold inventory is 8.4% lower than a year ago, marking the 24th consecutive month with year-over-year declines

According to Lawrence Yun, Chief Economist at NAR:

“Current demand levels indicate sales should be stronger, but it’s clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions.”

In real estate, there is a guideline that often applies; when there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see appreciation. Between 6-7 months is a neutral market, where prices will increase at the rate of inflation. More than a 7-month supply means we are in a buyer’s market and should expect depreciation in home values.

As we mentioned before, there is currently a 4.2- month supply, and houses are going under contract fast. The Confidence Index shows that 55% of properties were on the market for less than a month when sold.

In May, properties sold nationally were typically on the market for 27 days. As Yun notes, this will continue, unless more listings come to the market.

“With new and existing supply failing to catch up with demand, several markets this summer will continue to see homes going under contract at this remarkably fast pace of under a month.”

Takeaway: Inventory of homes for sale is still well below the 6-month supply needed for a normal market. And the supply will continue to ‘fail to catch up with demand’ if a ‘sizable’ supply does not enter the market.

Bottom Line

If you are going to sell, now may be the time to take advantage of the ready, willing, and able buyers that are still out searching for your house.

What Increases Property Values?

The National Association of Realtors website has an informative piece pointing to what is bringing up the rising values in some homes across the nation. Looking beyond the recent appreciation due to the lack of inventory we have been seeing around here, they include the hot list of features below, which could help your real estate investment grow more. Click the following link to the full article: What Really Makes a Property Appreciate.

hot list

I Always Appreciate A Referral

There is no greater compliment than a referral! I am proud to represent you as well as any family or friends you have who may need my team’s assistance in buying or selling real estate in our local market. I also have tons of connections across the country (and even globally) if you need a good referral for a Realtor in another area. Thank you for your business!referral