You, too, can go ‘Green at the Beach’ — for $1.45 million

Now on the real estate market, this Warm Beach waterfront home is eco-friendly from top to bottom.

By | Saturday, May 11, 2019 1:30am

 

It hit Dave Porter back in 2004 that he was a hypocrite.

After giving a speech to home builders and real estate agents about the importance of green design and building, Porter realized he didn’t practice what he preached.

“We had a decadent car and a house that was too big for our needs,” said Porter, a certified green building speaker who has toured the nation in the name of eco-friendly design. “It was time for a do-over.”

In 2005, Porter and his wife, Anna, sold their too-big house and, in 2007, started rebuilding a 100-year-old beachfront home in Warm Beach. They were determined to make it green from top to bottom — capable of meeting even the strictest green-home guidelines.

Their coastal-inspired, two-story home featuring a lighthouse cupola was named the 2008 Custom Home of the Year by the National Association of Home Builders and was given a Leadership in Energy and Environmental Design gold certification by the U.S. Green Building Council, among other national awards and designations.

Now it’s on the market for $1.45 million.

“It’s not only a fun and beautiful house, but it’s got this incredible background of green building when green building was just getting to be known,” said Linda Evans, the listing real estate agent for the property. “I don’t know of any other house that has this depth.”

Evans, who works for Windermere Real Estate Stanwood and Camano Island, said the 3,147-square-foot, three-bedroom, four-bath home is unique for having carefully chosen materials, such as insulation made from recycled blue jeans, formaldehyde-free doors and recycled glass countertops.

Snohomish County values the home at $744,900 for property tax assessments.

The Porters meticulously researched every piece of the house, keeping several questions in mind: Is it an earth-friendly product? Is it healthy or unhealthy? Does it help reduce their carbon footprint?

Not ones to waste anything, they salvaged more than 80 percent of their building materials from the original home, built in 1907, to keep it from going to the landfill.

The patio, walkway, parking pad and road easement are paved with pervious concrete, which drains water into the ground rather than flushing it into Port Susan nearby. They also have a rainwater catchment system, solar panels and a geothermal heat pump.

The couple, who are moving to Ashland, Oregon, to be closer to family, said they hope the next owners appreciate all the work that went into the house.

“It’s probably been the best experience we’ve ever had,” said Dave Porter, a sales manager for loanDepot. “It’s the longest we’ve ever lived in a home.”

The Porters wanted their experience to be educational for others, so they documented their rebuild, including every material used in the house, on their Going Green at the Beach website.

They’ve also opened their doors to about 5,000 people — including architects, realtors and elementary school students —for educational tours.

The green building materials are a big part of the price tag, Evans said, but not the only justification. The house has a number of other features, including a 1,100-bottle wine cellar, a detached guest retreat and lighthouse-themed cupola, which is a small dome on top of a roof.

But even the cupola, which has 360-degree views of the surrounding area and Port Susan, was designed to be green. The house doesn’t have mechanical air conditioning; open the windows in the cupola and fresh air funnels down to the rest of the house.

All of the green-home details still boggle Evans’ mind.

“Every time I go there, I learn something new,” she said.

Read the full article

 

Posted on May 11, 2019 at 9:01 pm
Windermere Stanwood Camano | Category: News

What Paine Field means for county’s real estate

Connections to West Coast cities will allow easy travel for our residents and bring tourists here.

Monday, May 6, 2019

It’s finally time to go after that second “dream home” you’ve been longing for since your 30s. You’ve earned it after a career of hard work, buckling down, and saving your pennies. When retirement or empty nesting occurs, many of us seek a home-away-from-home that offers a way to slow down, relax, and enjoy life. So now that the time’s right and you’re ready to make a move, what considerations should you take into account when looking for a second home?

Many soon-to-be retirees in our region have spent years in the grind of Seattle traffic that has only gotten worse, in a region that is one of the fastest growing in our nation. While many of us look to “get away from it all” as we retire, seeking privacy and immersion in natural beauty, we also want to preserve access to the luxuries and conveniences of city living. Access to things like travel as well as the simple but finer things in life like coffee shops, dining options, and even Amazon delivery can make all the difference when choosing a place to call “second home.” The reality is that most of us do enjoy many aspects of city living and we’re not completely ready to give up as we sail into the sunset.

There is no bigger “city” convenience than access to travel, and a strong regional airport in particular. Air travel allows us to enjoy the epic summers in the Pacific Northwest, yet get away to Maui or Palm Springs in the winter, or to the snow of the rugged West for some time on the ski hills.

Insert Everett’s new Paine Field Passenger Terminal, a regional transportation development that has the potential to change how retirees think about that dreamy second home, and in particular, how they look at options like Camano Island which is just 20 minutes northwest of Everett. Paine Field has recently begun buzzing with commercial airlines, bringing the world closer to Camano Island and the rest of Snohomish County than ever before. Alaska Airlines and United Airlines will connect Everett to a host of U.S. cities including Phoenix, Denver, Los Angeles, San Francisco and Las Vegas.

Whether you’re the retired parents of a Seattle tech worker looking for your second home near grandchildren, or you’re moving here to escape Seattle or San Francisco, there’s now a fantastic local airport at your doorstep, allowing you to avoid the arduous drive to Sea-Tac.

While Camano Island’s desirability is now matched with much-improved access to other well-traveled destinations, many view the island as a destination in its own right. Boasting stunning sandy beaches, abundant wildlife, and relaxed small-town charm, Camano Island is a haven for crabbers, water-skiers, and beach-lovers.

Rich in history and culture, Camano Island is home to a vibrant arts community as well as an array of local restaurants, shops, markets, events and festivals. The enduring appeal of Camano Island is that it offers an idyllic, island experience that feels away from it all, without actually being away from it all.

With no ferries and an always-open bridge, you can find yourself ensconced in a diverse community of families, retirees, artists and locals who value culture and the finer things in life, which now includes easy access to travel. Of course, the beauty of the Paine Field opening goes both ways. Visitors can hop a quick flight and visit you easier than ever before.

So check your frequent-flyer miles and come explore. You won’t be disappointed.

 

Read the full article

 

Posted on May 6, 2019 at 2:30 pm
Windermere Stanwood Camano | Category: News

Warm Beach home with lighthouse rotunda asks $1.45 million

By

A beach house with nautical details is one thing, but a built-in lighthouse is another. This home in Warm Beach—along semi-sandy Port Susan waterfront, facing Camano Island—goes above and beyond with waterfront whimsy. It was built in 2007 with all the trappings of a high-priced waterfront home, like big view windows, a wine cellar, and a network of outdoor decks and patios, has a lot of fun with the style.

The most obvious feature is the lighthouse-styled rotunda protruding from the roof, complete with a light, built for 180-degree water views. The builders added some other offbeat touches, though: a secret office through a bookcase door, a light-up “tide pool” countertop with beachcombed goods under glass, and driftwood fencing on the beach-facing side. Playful design aside, with three bedrooms and four baths, two fireplaces, and a hot tub, it also functions as a luxurious, waterfront home.

19126 Soundview Drive is listed for $1.45 million via Windermere.

 

Read the full article

 

Posted on May 1, 2019 at 2:22 pm
Windermere Stanwood Camano | Category: News

Western Washington Gardner Report Q1 2019

Western Washington Real Estate Market Update

by Matthew Gardner, Chief Economist, Windermere Real Estate

The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your local Windermere Agent. 


As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.
In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the Unversity of Washington where he also lectures in real estate economics.

Original Blog post from Windermere

 

Posted on May 1, 2019 at 10:02 am
Windermere Stanwood Camano | Category: Uncategorized

Warm Beach’s iconic eco-friendly home for sale

The award-winning house featured on TV and in magazines.

 

 

One of the area’s most iconic homes is for sale.

Easily identified along the Warm Beach waterfront by its lighthouse-inspired cupola, this ultra-green house is most famous for its sustainability.

“The goal was to build this as environmentally friendly as possible,” said Anna Porter, who owns it with her husband, Dave, who works in mortgage lending. “But a lot of the green building techniques we know today didn’t exist in 2007. We were developing and learning as we went. We made it into a public project so anyone could learn along with us.”

The effort paid off in the end.

The 2,700-square-foot, three-story house earned the “2008 Custom Home of the Year” award by the National Association of Home Builders. It also earned numerous additional design certifications, including: “LEED Gold” from the U.S. Green Building Council; ‘American Lung Association Health House;” Master Builders of King & Snohomish Counties, “Built Green 5 Star”; “Energy Star;” and “Environments for Living.”

The couple worked with a variety of local companies in 2007 to pioneer green additions for residential use.

“We were all learning as we went,” said Porter, who works in program development and project management.

At the time, the three-bedroom, four-bath home attracted widespread attention from media, the building industry and the public. By January 2013, more than 38,000 unique visitors browsed the project website, more than 3,000 people toured the home, and the project was featured in more than a dozen publications, including Natural Home, Smart HomeOwner and Environmental Design + Construction. It also appeared on the TV show “Renovation Nation.”

Among the sustainable features: geothermal heat; sustainably chosen construction materials; recycled wood and stone; and Forest Stewardship Council-certified flooring. Smaller details include opting for chemical-free cabinets and countertops made from recycled agriculture products instead of MDF fiberboard.

But in 2011, Porter suffered a stroke, leaving her right leg and foot with limited use.

“Getting around is tedious — actually, it’s dangerous,” she said. “We’re ready to move to something smaller and closer to grandchildren.”

The home is listed at $1.45 million. It’s a price tag that’s becoming less uncommon around Stanwood and Camano Island.

In 2017, there were nine homes in the area that sold for more than $1 million. In 2018, that ballooned to 21.

And the Porter’s home may be the most unique one to hit the market.

“I can’t think of anything similar,” said Linda Evans, the listing agent with Windermere Stanwood Camano. “There are green houses that have some features, but this has all the features.”

In addition to a rock fireplace made from stones gathered from the beach in front of the house and recycled glass accents throughout, there’s a temperature-controlled 1,100-bottle wine cellar situated three stories below the landmark cupola. The wine racks — like a handful of other features in the house — were made from parts of the 1907 cabin that previously sat on the 0.37-acre lot.

“It’s bittersweet selling this home, it’s been such a great story,” Porter said. “But it’s time for a plot twist.”

Read the full article

 

Posted on April 29, 2019 at 2:40 pm
Windermere Stanwood Camano | Category: News

Broker’s Perspective – Love it or List it?

Windermere Stanwood-Camano Real Estate Brokers are deeply connected to the issues that face local home-buyers and sellers. In this series of blogs, The Broker’s Perspective, Windermere Stanwood-Camano Brokers provide insight into current Real Estate market trends and topics.

This week we take a look at the popular topic of “Should I move or remodel?” Nancy McClure, a broker from our Camano Island office gives us her perspective on this hot topic.

Original Windermere blog;  Should I Move Or Remodel?


Windermere Broker Nancy McClure gives us her perspective –

Windermere Broker, Nancy McClure

What are the most important factors to consider when trying to make the decision to move or remodel?  

Most decisions with Real Estate ultimately come down to decisions based on Cost or Location.   If you are located in Seattle and accept a job in Spokane, most likely you will move instead of remodeling, basing the decision on your location.

If you love the neighborhood you live in, but would like an updated home, remodeling or moving is generally considered based upon the cost.

If you are looking at remodeling with the intent to move,  the remodeling decisions are usually based upon remodeling costs vs. possible returns.

 

What home renovation projects deliver the best return on investment?

Paint!  Something this small can make a big difference and does not cost a ton.   When you start tearing things apart and renovating large parts of the home, it can be challenging to recoup your investment dollar for dollar.   However, this is probably not the case with a “fixer – upper” that is purchased at a lower price point.  Fixer upper homes generally have more flexibility on larger renovation projects based on the fact that these homes are purchased with the intent to remodel and sell.  In the case of a fixer-upper,  here are a few things that can add good value to the home,

Remodeling the kitchen and bathroom – Kitchen remodels can change the entire feel of a home.  If the kitchen is outdated there is a good chance the bathroom is too!

Adding a bedroom – This can be done by finishing basements and attics or putting a closet in a spare room and can definitely raise the value of the home.

Replacing doors and windows, installing new heating or cooling systems – Energy efficient homes are in demand.

Adding a deck or putting on a new roof – These are just a sample of some exterior projects that will give you an immediately improved look and a higher home value.

Other projects that may add value include replacing siding, adding a garage or carport, repairing front porch, landscaping and resurfacing the driveway.

 

Could your renovations possibly decrease the sale price of your home?

It sure could.  When making the decision to remodel with the intent to sell the home it is important to choose timeless, classic details.  Choosing a color that is not popular, or a layout that is not functional could definitely be detrimental.   Contractors, Interior Designers, and Real Estate professionals can help you with the most sought after details in homes today.

 

Do we have good resources in our local Stanwood – Camano area such as custom builders, licensed contractors, and interior designers?

We do. Both of the Windermere offices have information on local resources. Also, our brokers are deeply connected to the community, so many have personal connections with contractors, builders and much more.  Stop by and we’ll give you a referral, or two!

 

Any parting tips you may want to leave us with?

If you end up selling, don’t forget curb appeal!  Homes that have great curb appeal tend to sell quicker and generally for a better price.

Remodeling a home isn’t quite as easy as HGTV makes it look!  Start with a good support network, know when to hire a professional, do your research and don’t forget to ask your contractors for references before hiring them!  And then go have some fun!

Posted on April 16, 2019 at 3:46 pm
Windermere Stanwood Camano | Category: Buying, DIY, Selling, We Are Stanwood Camano

Market Stats February 2019

Every month, Windermere Stanwood-Camano publishes a snapshot of the local real estate market. Our Brokers use this data to help determine listing prices, realistic offers, and tailored advice for their clients. We also like to make this information public, to help you with your real estate journey. Market Stats are provided courtesy of Marla Heagle. 


February 2019 Stanwood – Camano Area Market Stats

If you have any questions about our local statistics, please contact our office and we will put you in touch with an experienced professional broker from one our offices.

Terry’s Corner office 360-387-4663

Stanwood office 360-629-8233

 

View Full Stats – Camano Island       View Full Stats – Stanwood


To read in-depth statistics from January 2019, click on the links below.

View Full Stats – Camano Island  View Full Stats – Stanwood


Matthew Gardner’s Real Estate Forecast for 2019

Year End Market Stats 2018 and MSI

 

Posted on April 3, 2019 at 2:43 pm
Windermere Stanwood Camano | Category: Buying, Selling

Here’s Your Spring Maintenance Checklist

 

Now that spring has sprung, let’s clear the cobwebs and get your home ready! Here is our quick guide to spring home maintenance:

 

Inspection top to bottom: Now that the weather is temperate you will want to check on how your home weathered the winter. Check the roof for leaks, the gutters for damage, and the siding for cracks. You will also want to inspect your basement or foundation for any shifts. Make repairs now to prevent further damage.

 

Clean out the gutters: April showers bring May flowers… so clear out the gutters to keep rain from pooling on your roof or near your foundation.

 

Pest control: Spring is mating season for eight-legged critters, so sweep out cobwebs, clear debris, and check the nooks and crannies. If you live in an area prone to dangerous species like brown recluse or black widows, you may want to contact your local pest control, but otherwise, household spiders do help eliminate other bugs.

 

HVAC system: If you have an air conditioner now is the time to check to make sure it is ready before summer gets here and everyone else is clamoring for maintenance. Now is a good time to check your home air filters and replace or upgrade to keep allergens at bay.

 

Clear the clutter: Do a sweep around the house and get rid of junk that you don’t use! Take a little time each week to tackle a room. Closets, playrooms, and basements can be especially daunting, but getting rid of old stuff and refreshing your space will go a long way!

 

Deep clean: On a nice day open the windows, dust, wipe, scrub, and clean. You will get a nice workout and your home will look and feel so fresh after a winter of being cooped up.

 

Update your décor: Add a splash of color to your home with small embellishments. Add a colorful vase, a lighter throw for your sofa, pretty pastel pillows, or spring-time candles, to upgrade your living space.

 

Take it outdoors: Let your throw rugs, curtains, and other tapestries air our outside. Shake off the dust, spot clean what you can and let everything bask in the sun for an afternoon.

 

Don’t forget the back yard: It may not be time to start up the grill, yet, but you can get started on your outdoor entertaining checklist. Check your lawn, and if you have some spare spots start filling in with seed. Check your outdoor plants, prune, plant bulbs, start to replenish the soil for your garden, and mow, so you are ready to start when the season allows.

Speaking of the grill – if you have a gas grill you will want to pull this out and perform a maintenance check. Clean everything up and check to make sure all the gas lines are clear, as these can get clogged after sitting idle all winter. Make sure the grill is clear of spiders too, as they can build webs in the tubes, causing damage to your grill. You can start to bring out your garden furniture too, or clean it up if you left it covered outside all winter. Because before you know it, it’ll be barbeque season!

Posted on March 26, 2019 at 9:00 am
Windermere Stanwood Camano | Category: DIY, Living

Should I Move or Remodel?

There are a number of things that can trigger the decision to remodel or move to a new home. Perhaps you have outgrown your current space, you might be tired of struggling with ancient plumbing or wiring systems, or maybe your home just feels out of date. The question is: Should you stay or should you go? Choosing whether to remodel or move involves looking at a number of factors. Here are some things to consider when making your decision.

 

Five reasons to move:

1. Your current location just isn’t working.

Unruly neighbors, a miserable commute, or a less-than-desirable school district—these are factors you cannot change. If your current location is detracting from your overall quality of life, it’s time to consider moving. If you’re just ready for a change, that’s a good reason, too. Some people are simply tired of their old homes and want to move on.

2. Your home is already one of the nicest in the neighborhood.

Regardless of the improvements you might make, location largely limits the amount of money you can get for your home when you sell. A general rule of thumb for remodeling is to make sure that you don’t over-improve your home for the neighborhood. If your property is already the most valuable house on the block, additional upgrades usually won’t pay off in return on investment at selling time.

3. There is a good chance you will move soon anyway.

If your likelihood of moving in the next two years is high, remodeling probably isn’t your best choice. There’s no reason to go through the hassle and expense of remodeling and not be able to enjoy it. It may be better to move now to get the house you want.

4. You need to make too many improvements to meet your needs.

This is particularly an issue with growing families. What was cozy for a young couple may be totally inadequate when you add small children. Increasing the space to make your home workable may cost more than moving to another house. In addition, lot size, building codes, and neighborhood covenants may restrict what you can do. Once you’ve outlined the remodeling upgrades that you’d like, a real estate agent can help you determine what kind of home you could buy for the same investment.

5. You don’t like remodeling.

Remodeling is disruptive. It may be the inconvenience of loosing the use of a bathroom for a week, or it can mean moving out altogether for a couple of months. Remodeling also requires making a lot of decisions. You have to be able to visualize new walls and floor plans, decide how large you want windows to be, and where to situate doors. Then there is choosing from hundreds of flooring, countertop, and fixture options. Some people love this. If you’re not one of them, it is probably easier to buy a house that has the features you want already in place.

 

Five reasons to remodel:

1. You love your neighborhood.

You can walk to the park, you have lots of close friends nearby, and the guy at the espresso stand knows you by name. There are features of a neighborhood, whether it’s tree-lined streets or annual community celebrations, that you just can’t re-create somewhere else. If you love where you live, that’s a good reason to stay.

2. You like your current home’s floor plan.

The general layout of your home either works for you or it doesn’t. If you enjoy the configuration and overall feeling of your current home, there’s a good chance it can be turned into a dream home. The combination of special features you really value, such as morning sun or a special view, may be hard to replicate in a new home.

3. You’ve got a great yard.

Yards in older neighborhoods often have features you cannot find in newer developments, including large lots, mature trees, and established landscaping. Even if you find a new home with a large lot, it takes considerable time and expense to create a fully landscaped yard.

4. You can get exactly the home you want.

Remodeling allows you to create a home tailored exactly to your lifestyle. You have control over the look and feel of everything, from the color of the walls to the finish on the cabinets. Consider also that most people who buy a new home spend up to 30 percent of the value of their new house fixing it up the way they want.

5. It may make better financial sense.

In some cases, remodeling might be cheaper than selling. A contractor can give you an estimate of what it would cost to make the improvements you’re considering. A real estate agent can give you prices of comparable homes with those same features. But remember that while remodeling projects add to the value of your home, most don’t fully recover their costs when you sell.

 

Remodel or move checklist:

Here are some questions to ask when deciding whether to move or remodel.

1.      How much money can you afford to spend?

2.      How long do you plan to live in your current home?

3.      How do you feel about your current location?

4.      Do you like the general floor plan of your current house?

5.      Will the remodeling you’re considering offer a good return on investment?

6.      Can you get more house for the money in another location that you like?

7.      Are you willing to live in your house during a remodeling project?

8.      If not, do you have the resources to live elsewhere while you’re remodeling?

 

If you have questions about whether remodeling or selling is a wise investment, or are looking for an agent in your area, we have professionals that can help you. Contact us today!

Posted on March 19, 2019 at 10:45 am
Windermere Stanwood Camano | Category: Buying, Living, Selling

Market turnaround? King County home prices take biggest one-month jump ever.

Originally published March 6, 2019 at 4:22 pm Seattletimes.com

For months, there’s been one question in Seattle-area real estate: How low can prices go?       We may have found our answer.

King County home prices had dropped $116,000 since last spring, falling to a two-year low in January.

But in February, home prices bounced back as the median sale rose by $45,000 from the month prior, according to new data released Wednesday. It was the first time in eight months that prices actually went up, on a month-over-month basis.

And it was no small increase, either: In dollar terms, it’s the biggest one-month jump since records have been kept.

One month of data does not necessarily guarantee a new trend. But there’s evidence the market could be picking up speed as buyers start slowly coming out of the woodwork: Sales increased 1 percent on a year-over-year basis, a small amount but nevertheless the first increase since April 2018, back when Seattle was still the hottest market in the country. Brokers and buyers are reporting more traffic in open houses and the slow return of bidding wars.

And while prices usually grow in February coming out of the winter doldrums, this year’s bump was triple the average increase from the previous five years. It’s an ominous sign for buyers, given that prices almost always rise the most in spring, which is just around the corner.

King County’s median single-family house sold for $655,000 in February, up 7.4 percent from a month prior but still comfortably below record highs reached last spring, according to the Northwest Multiple Listing Service.

“Everything has picked back up,” said Grant Burton, a Seattle-based Redfin agent. He’s working on two buyer offers right now, and has four pending sales — all featuring bidding wars, which had all-but disappeared in the second half of last year.

 

“When we noticed the cool-down last spring, buyers were fatigued, they were burnt out on the crazy market and not having enough time to do their due diligence,” Burton said. But then things went in the opposite direction — homes sitting unsold longer, prices being negotiated down — for long enough that buyers have started to feel comfortable enough to come back.

“It helps that there’s more inventory, and having more time (to decide on a house) has been a little bit easier for buyers to digest. And I think maybe people were trying to take advantage of not as many buyers to compete with,” he said.

Still not red hot

The market isn’t back to red-hot by any means. On a year-over-year basis, prices rose a bit less than 1 percent. And the number of homes sitting unsold still doubled in that span. Brokers say instead of bidding wars with 10 buyers driving up prices way above the list price — which was common for years — now there might be two or three bidders on sought-after homes, willing to go slightly above list price.

House Sales by Sub-market

Paul Lundin and his wife are closing on a $1.5 million Ballard home now after losing three previous bidding wars. They wound up having to go $80,000 over list price and waive all their contingencies — such as the clause that allows buyers to back out of a home purchase if an inspection turns up new problems — to beat out other bidders.

“We ended up overpaying or at least paying more than we wanted to,” Lundin said. “I certainly would have liked to land something in December (before the market picked up), but it just is what it is.”

Lundin said it’s clear the competition among buyers has increased compared to when they started looking around last fall.

“It was going pretty fast, very contentious,” he said. “If you go to open houses on a weekend, there are people streaming out all day.”

A closer look at the numbers

In Seattle, the median home price hit $730,000, up from $711,000 the previous month but still down from a year ago.

The biggest gains came in Southeast King County, where prices grew from $450,000 to $473,000 in the last month – led by gains of $100,000 in Renton.

But the turnaround hasn’t started on the Eastside. There, prices fell to $900,000 — down from a month ago and a year prior.

Also helping nudge buyers back into the market: mortgage interest rates, which had grown last fall, have fallen back down in the last few months.

Despite a shift in single-family home values, condo prices continue to fall — down 8.4 percent from a year ago across King County, the biggest decline in seven years. The median condo across the county sold for $380,000, down from a record high of $466,000 last spring. The number of condos sitting unsold more than tripled in the past year while sales continued to decline.

The cool-down also continues in Snohomish County, where the cost of the median single-family house fell 2.1 percent from a year prior — the county’s first annual drop since 2012. The median Snohomish house sold for $475,000, down from last spring’s peak of $511,000.

Pierce and Kitsap counties, which have been mostly immune from the recent slowdown as buyers seek out cheaper alternatives, continue to see prices grow.

In Pierce, the median house sold for $355,000 — up 9.2 percent in the past year, and matching the record highs reached last spring. In Kitsap, prices grew 3.7 percent, to $341,000.

Original article from Seattle Times

Source, Seattle Times Newspaper March 6th, 2019

Posted on March 15, 2019 at 3:40 pm
Windermere Stanwood Camano | Category: Buying, Housing Trends