the
home connection
Volume 11 | Issue 4
APRIL 2020
EYE ON THE MARKET
GREEN HOME PROJECTS King County by 3.05 percent, in Snohomish County by 8.43 percent, in Pierce County by 11.27 percent and in Thurston County by 12.29 percent. Listings are down by 40.74 percent, 41.25 percent, 38.29 percent and 45.37 percent year-over-year, respectively for those same areas.
The big story of the new spring market is the effect global events are having on interest rates. Mortgage interest rates are at their lowest level in 11 years, and many home buyers are taking advantage of more buying power. At the same time, a significant number of would-be sellers are also benefiting from lower refinance rates that provide an incentive to stay put instead of listing their home for sale. The result is continued inventory shortages. The lack of homes on the market is causing prices to rise along with the early spring temperatures. The latest market statistics from the Northwest MLS show closed-sale prices for singlefamily homes are up year-over-year in
More recent analysis on the site Geekwire.com has brokers reporting a noticeable impact from the virus outbreak on home-buying demand in the Seattle area, but also noting that listing activations were up. During these times some buyers may feel an increased sense of urgency to get settled and into a home to take advantage of the increase in the range of home prices they may qualify for as a result of lower mortgage rates. Buyers may also see brokers exploring different ways to market their listings, such as promoting their virtual tours and increasing activities on social media to get the word out.
CELEBRATING EARTH DAY 2020: BACK TO BASICS Helping the Earth doesn’t have to be complicated. Here are a few little things we each can do that will really add up: Walk or bike to work. Reduce your footprint on the Earth by leaving your car at home whenever possible. You benefit from the heart-healthy exercise, and the Earth benefits because, with one less car on the road, there are fewer carbon emissions. Recycle your e-waste. More than 50 million tons of electronic waste are generated each year in the U.S. alone, and only 20 to 25 percent of the waste is responsibly recycled. As a direct consequence, large amounts of hazardous materials such as lead, mercury and cadmium leach into our air and water, contaminating our communities. Go to e-stewards.org to find a facility that will help you recycle your e-waste
in a safe and responsible manner. Reduce junk mail. One hundred million trees are cut down each year to produce junk mail, and the resulting loss of trees takes a huge toll on the Earth. Return junk mail unopened to the sender by writing "Refused. Return to sender.” Opt out of prescreened credit offers permanently or for five years online at optoutprescreen.com. Decide what other mail you do not want to receive by going to DMAchoice.org. Donate your old clothes. Much of your old, unused clothing can be given a second life by others who purchase secondhand; regenerated into textiles for other products such as cleaning cloths; or turned into fibers for insulation. Goodwill, Value Village and the Salvation Army all participate in (continued on next page)
Earth Day is April 22 and here are a few ways (big and small) that will “green up” your next project:
Flooring: Bamboo grows quickly even without pesticides and, when assembled into flooring, is more durable than most hardwoods. This makes it a sustainable choice for your home. Concrete is another alternative and can incorporate recycled materials such as recycled glass to give it unique character. Countertops: Recycled-glass products are elegant and stylish and add a modern twist. These products are available in a variety of designs and colors. Concrete is another option. Bathtubs/sinks: If your bathtub or sink is in good condition, instead of buying a new one, get the current one refinished. Another alternative to buying new is to look for a replacement at a salvage yard. Driveways/walkways: Consider installing a permeable driveway or walkway made of pavers, crushed stone or broken (recycled) concrete, which allows rainwater to seep through to the ground.
Plumbing fixtures: The latest low-flow fixtures not only look good but save significantly more water than those made even just a generation ago. All of these improvements add to a home’s value and livability, while also making it more attractive to buyers looking for earthfriendly features in their next home.