Live Washington: Leavenworth

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Leavenworth is where Bavarian charm and the Northwest meet, located on the Eastern cusp of the Cascades 2 1/2 hours from Seattle.  Not only is it a mecca for recreation, with endless opportunities for climbing, camping, mountain biking and golfing in the spring and summer months and skiing, sledding, cross country skiing and ice climbing in the winter, the town is also jam packed with festivals and events in almost every month.  

The Live Washington series will explore some of the best places to visit and invest in vacation homes or rentals that are accessible, family friendly and embody the Pacific Northwest lifestyle that draw us to call this place home.  I am excited to share these places with you, and am inspired by the beauty that is so close to home!

Leavenworth is an affordable and beautiful place if you are looking to purchase a second home.  The median sale price in Leavenworth for the last 90 days is $325,000 with prices ranging from $150,000- $1 million there is something for everyone here.

Beautiful waterfront home with lake and mountain views + close to downtown Leavenworth

cozy open floor plan + perfect setting for family gatherings

Magical Holiday lights in downtown Leavenworth

Hiking + Mountain Biking destinations in Spring/Summer months 

Market Mondays: Kirkland Condos and Holiday Happenings

Happy Monday everyone! Can you believe it’s almost Christmas? It’s been an amazing year and I can’t wait to see what 2015 has in store personally and professionally. I am grateful to be part of such an exciting and dynamic time in real estate.  Nothing is more fulfilling than walking alongside each and every one of you through this process.  While most people don’t think of the holidays as a good time for house-hunting, that may be just the reason to do it. Less competition with other buyers and more motivated sellers can mean a smoother transaction and more leverage in the negotiation process.

This week we are taking a quick look at the Kirkland/Bridle condo market.  There have been 94 condominiums sold in the last 90 days, ranging from a low of $105,500 – $3.1 million with a median sale price of $350,000.  With 43 active listings ranging from $169,950 – $5.75 million and a median listing price of $375,000 there is about 1.4 months supply of inventory in the market! There is typically a shortage of inventory during the winter months, however, sellers are still seeing 98% percent of their listing price…people are still buying houses! With low interest rates and a healthy market, it is a prime time to buy and sell!

As we move into 2015, where do you see yourself next year? Is buying your first home or perhaps moving into a larger home one of your goals? I have talked to a lot of people who are looking into buying homes in 2015 and I challenge you to write down what that looks like for you! We have a lot of exciting things planned and will be holding a webinar workshop for First Time Home-Buyers in January that will take you step by step through the process as well as allow for any questions you may have….so stay tuned and get your questions ready! 

As a continuation of last week and as I can’t help but marvel at all the beautiful light displays, there is one house that has developed quite the reputation in the Kirkland neighborhood AND shows huge support for our beloved Seahawks.  Dubbed the “Seahawks House” by locals, this home is a sight to behold, it’s one you MUST check out for yourself! Merry Christmas and Happy Holidays everyone!

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Market Mondays: Issaquah

Happy Monday! This week we are looking at the beautiful community of Issaquah, one of my absolute favorite locations and is becoming a hotbed for growth and development as people see what this community has to offer.  Issaquah is just 17 miles east of Seattle, sitting on the southern border of Lake Sammamish. With its proximity to Seattle, nearby mountains, and perfect summer weather, the town has grown in recent years and attracts enough new blood to be the second fastest growing suburb in the state.

Issaquah is nestled up against the Cascade foothills. Several small mountains make up the so-called Issaquah Alps to the south of Issaquah: Tiger Mountain, Cougar Mountain and Squak Mountain.  This area is also a major attraction for the outdoor lovers, making it a perfect lifestyle fit for those who like the best of both worlds. The Issaquah and Sammamish Plateaus and Lake Sammamish are to the north.

So, what’s happening in Real Estate? Issaquah has seen steady growth and like I mentioned earlier is the second fastest growing suburb in the state of Washington.  Issaquah has seen a 12% increase in home sales when compared to December of 2013 with a median sale price of $700,000.  As of December 15th, 2014 there are 43 single family homes for sale ranging from $358,300-$4.98 million.  In the last 90 days, 70 single family homes have sold, ranging from $272,888-$1.83 million with a median sale price of $700,000 like I mentioned earlier.  The average days on market is 36 days! Who said that December is a bad time to buy or sell a home?!

The graph above displays months of inventory through the end of November, however, as of December 15th 2014 Issaquah is at 1.84 months of inventory based on closed sales which is slightly higher than December of 2013.  What this tells us is that there is a shortage of inventory, more buyers than sellers.  Issaquah is a hotbed for new construction so this will be an interesting market to keep an eye on.

If you or someone you know is looking to buy or sell their home, please don’t hesitate to contact me at rachelwagner@johnlscott.com or call/text 324.0302.  Don’t forget to follow my blog for weekly market updates, which you can do by clicking the “follow” button at the top right hand side of the page.

Oh, and here is a lovely display of lights that you might be interested in checking out in Issaquah, in the spirit of the holiday season!  This light show is dressed to impress with hundreds of thousands of lights that the Ginnaty family has been putting on for over a decade.

Ginnaty Christmas Light Show
9325 240th Avenue SE
Issaquah, WA 98027

South of Issaquah on Front Street, take SE 96th Street east to the turn. Turn left on 240th Ave SE. You can’t miss it on the left a few houses up the street. Look for the sandwich boards at the turns to confirm you’re in the right spot.

Market Mondays: Kirkland/Bridle

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Happy Monday! Can you believe it’s already December 1st? I hope everyone had a wonderful Thanksgiving and is ready to finish out 2014 strong! It has been an exciting year in the real estate market and this week we are looking at what’s happening with single family homes in the Kirkland/Bridle area.

As of December 1st, 2014 there are 90 active listings (115 when pending sales are included) ranging from $285,000- $3.7 million with a median listing price of $939,000.  When we look at sold homes, there have been 166 sales in the past 90 days, ranging from $225,000- $7.75 million with a median sale price of $830,000. The graph below demonstrates the average days on market as well as the sale price to list price ratio.

When you compare October 2013 to October 2014 (the most recent up to date data), we see a slight decrease in the sale price to the original list price and a huge increase in inventory.  What this graph fails to show is that the average sale price has gone up 57%, from an average sale price of $667,000 in October 2013 to an an AVERAGE sale price of $1.5 million in October 2014.

As of today, there is 2.09 months supply of inventory when pending sales are included and 1.63 months supply of inventory when only active listings are included.  The market is seeing a shortage of inventory and there is still a backlog of buyers ready to jump at their perfect home.  If you are thinking of selling, now is a great time!

If you or someone you know has an interest in a specific area or market, please feel free to contact me at rachelwagner@johnlscott.com or call/text 425.324.0302. I am happy to answer any of your questions, as they relate to real estate! Have a great week!

Credit 101: True or False

I receive a lot of questions on a daily basis from prospective buyers (especially first time home-buyers) relating to finances and primarily, CREDIT! Today, we are playing a little game of True or False as they relate to all things credit! What I love about Real Estate is the opportunity to learn and grow on a daily basis.  Many times, I grow right along with the people I’m working with and seek out answers to things I’m unsure of.  Yesterday, I had the opportunity to speak with David Bryce, Senior Loan Officer with Priority Home Lending and he broke down some of your most common credit questions.  If you are considering purchasing a home, I highly suggest giving him a call at 425.466.4533 and know he will be able to answer any questions you may have as they relate to financing. Also, feel free to email rachelwagner@johnlscott with any other questions you may have, I’m always happy to help!  Happy Wednesday and I hope you learned as much as I did in the following Q&A.

1.  Paying off an account that has been turned over to the creditor’s collections department or a collection agency will increase your credit score.

Sorry to start out with what amounts to a trick question but, the correct response is false- most of the time.  Only if the account has gone into collections recently is it wise to pay it off.  Older accounts should be left alone.

Scoring systems place the most emphasis on the most recent activity in your credit record.  Paying off collection accounts, no matter their age, registers as recent activity.  Consequently, the closer such a step takes place to pulling a credit report, the lower your score will be.  If the date of the last activity exceeds 12 months, leave it alone.

If the mortgage lender requires that you pay off an account in collections as a condition of obtaining funding, do so as part of the closing process so it will not impact the score the lender will pull shortly before closing to make sure nothing detrimental has happened to your credit since the loan was first approved.

2.  Closing a credit card account will increase your score.

False.  Closing a credit card could actually lower your score because the amount of revolving credit available to you will decrease.  Rather than close an account, keep your balance below 30% of its limit.  Credit scoring models rate debt utilization or the amounts owed on your accounts, almost as important as payment history.

3.  Having cash on hand in a saving account will improve your score.

False.  While lenders prefer that borrowers have some cash reserves to tide them over in case of emergency, scoring systems look only at credit.

4.  Borrowing money from a finance company is no different than borrowing from a bank.

False.  All credit accounts are not ranked equally.  Credit from finance companies will score lower than a bank card, travel and entertainment card, oil card or auto loan.  Ditto for payday loans, cash advance loans, check advance loans, post dated check loans or deferred deposit check loans.

5.  Seeking the help of a qualified consumer credit counselor will automatically improve your score.

False.  More often than not, a credit counselor negotiates on behalf of the consumer to make a lower monthly payment on an overdue account.  Even thought the creditor agrees, it is not the same arrangement for which the consumer signed up originally.  As a result, the payment more than likely will appear as late on the person’s credit report.

6.  You only need to worry about your credit score when you are buying a big ticket item such as a house or automobile.

False.  With the amount of fraud and identity theft taking place, all of us should check our credit reports at least once a year, and Credit Plus recommends twice.  By law, you are entitled to one free copy annually. Go to http://www.annualcreditreport.com to get your free annual report.

7.  Your credit score differs, depending on the item you are purchasing.

True.  Different industries use different scoring models, so scores will change, depending on whether you are buying a house, purchasing a car or applying for insurance.  Make sure your lender uses a score developed solely for the mortgage business.  Others are almost always 50 to 60 points higher than the score developed solely for the mortgage business.

8.  A finance company credit card scores the same as any other credit card.

False.  Finance company cards, which typically allow borrowers to open a store account with zero interest for a year, weigh more heavily on credit scores.  Worse, when you open the account, the creditor sets your limit at the cost of your purchase, meaning the card is maxed out and well above the 30% balance you should strive not to exceed.

9.  Negative credit information can stay on your record forever.

False.  Generally, negative information remains on your report for seven years from the last activity.  But if it involves a bankruptcy, it can stay for as long as 10 years.  The exception is a federal tax lien, the removal of which is determined by a prescriptive period.

10.  There’s nothing wrong with using your maiden name when pulling your credit report.

False.  Always use the same, full legal name.  Being consistent will help avoid confusion with other borrowers with the same name as yours.  Not all credit bureaus use Social Security numbers as the primary means of identification.

11.  If you have poor credit and cannot obtain credit on your own, the best ways to start rebuilding your credit record is by obtaining a secured credit card or asking someone to co sign with you for a major credit card.

True.  One reason for a low score is because there is not enough “positive’ revolving credit in your report.  Indeed, in many cases, when “positive” credit is added, a score will increase.

Simply Home: Wednesday Inspiration

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I think it’s safe to say that Pinterest is a great source of home inspiration, providing a wonderful resource for DIY home improvement projects and crafts.  The photo above depicts a mantle project that took me under 2 hours to complete, which included painting (white chalk paint, amazing), creating the banner and the sign.  Although my version may pale in comparison to some of the following mantle photos, it brought a huge amount of light and joy into our home, welcoming the Holiday season. We have quite a few home improvement projects planned in the future, so expect to see more of these as we continue the process of updating our home!  ENJOY!

Be Thankful Thanksgiving Mantel & Gratitude Frame - Landee See Landee Do

Simply Country Life: Rustic Burlap and White Pumpkin Fall Wreath

I drew inspiration from the “give thanks” concept, a nice modern twist to Thanksgiving decor

11 Inspiring Fall Mantles - cute mantle, can't find the 11 though...looks like a good blog though - cute tutorials!

Beautiful Fall display

Mod Vintage Life: Elegant Thanksgiving

Elegant Thanksgiving

Thanksgiving Table Center Piece via Amy Huntley (The Idea Room)

Lovely Table Centerpiece

Pretty Painted Pumpkins

Orchard Girls: Top 12 Fall Decorating Ideas definitely will have a fireplace in the house we buy. :)

And remember…..

7 Inspirational Quotes That Remind Us To Find Comfort In Our Homes (PHOTOS)

Market Mondays: Kirkland Condos

Happy Monday!

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The sun is shining, the leaves are falling and the holiday season is rapidly approaching.  This week, I will share with you a quick glance at the Kirkland condo market.  In the spirit of the holiday season, I will also be doing a post this coming Wednesday on some easy and fun holiday themed updates for your fireplace mantle, so stay tuned!

As of November 10, 2014 Kirkland has 59 active condo listings ranging from $138,000-$5.75 million, with the median listing price of $380,000.  In the last 90 days, there have been 86 condos sold with a sale price of $149,000-$3.15 million and median sale price of $516,000.  As you will see demonstrated by the graph below, Kirkland had 6 months supply of inventory (a balanced market), at the end of October.  However, as we approach the end of the second week in November, Kirkland is at 2.06 months supply of inventory based on closed sales.  Many homes that are now closed had more than likely gone pending in October, not reflecting in the months of inventory based on closed sales.  Its normal for the market to slow down a little in the fall and winter months…less light, holidays etc. have brought the Kirkland condo market down to a simmer, although things are definitely still clipping right along!

What will the median sale price of $516,000 get you in the Kirkland area?

The above property, a detached condo, sold for $516,000 in October, falling right in the middle of the pack with a little over 2,000 square feet and a beautiful floor plan.

If you, or someone you know are looking for condos in Kirkland, email me at rachelwagner@johnlscott.com.  As an avid runner and Kirkland resident, I am always out and about in the neighborhoods and absolutely love this area…I’m grateful to call it home.

Make it a great week!