the
Volume 8 | Issue 12
EYE ON THE
DECEMBER 2017
market
The market has begun to slow, but this time of year can offer opportunity for those who choose to remain engaged. Buyers may experience less competition and have more time to research properties and strategize. Sellers who choose to list their home during this time of year may find that their home (if in good condition and priced properly) receives more attention and consideration. The latest statistics from the Northwest MLS show closed-sales prices for singlefamily homes in King County are up yearover-year by 14.55 percent, in Snohomish County by 13.81 percent and in Pierce County by 12.52 percent. Multiple offer situations remain a part of most transactions, but brokers are reporting fewer offers on the table per transaction. This year has been exciting and historic in many ways, but it would seem the coming year will continue to amaze.
LOCAL 2018 Market Outlook: Proposed changes might reduce the number of home transactions that qualify for the mortgage interest deduction. With most homes selling in King County for more than half a million dollars in 2017, this means many buyers may not qualify for the deduction. Will sellers elect to not list their home for sale because they’ll lose their current deduction? The Federal Reserve is expected to raise rates in the near future, and there will be a new chair appointed as its leader. What moves will the new head of the Fed make, and when? And will home buyers be able to absorb a rate increase, or will they act more cautiously? Lastly, the announcement of Amazon’s HQ2 is expected in 2018. If they choose a location close to home will there be an influx of additional high-wage earners that may continue to fuel the trend of higher home prices? Or, if the location is elsewhere, will that cause an exodus that will make a dent in our current housing market and provide some relief? Stay tuned!
TIPS FOR GREEN HOLIDAY
entertaining
A few tips to help you “go green” this holiday season: Stocking up—Buying in bulk in bigger Cooking—Support our community farms! containers helps to cut down on packBuy organic when you can, and visit your aging and reduce the number of trips local farms to get produce, meats and to the store to restock these items. dairy products. Many farms offer fresh items year-round, and you Decorating—Many of your might even discover a new guests will eventually come favorite. Ask for recipes and to the kitchen to hang out, so preparation tips if you’re trying to really get into the holiday something new. spirit, decorate your kitchen as well. For the kitchen (and Serving—Use cloth or compostall over the house), string LED able napkins, and invest in an lights, which use less energy. inexpensive set of flatware that Pinecones, evergreen branches and can be reused next year. Better yet, if boughs of holly you’ve collected from your event is casual, check your local your yard also make festive holiday vintage store for flatware and glassware decorations and don’t require any sets or individual pieces that meet your energy usage. entertaining needs. (continued on next page)
happenings
11/24-1/1 WinterFest at Seattle Center | seattlecenter.com
12/1 Great Figgy Pudding Caroling Competition pikemarketseniorcenter.org 12/1-12/2 2017 Winter Beer Fest washingtonbrewersguild.org 12/1-12/3 A Victorian Country Christmas
avictoriancountrychristmas.com
12/1-12/23 Issaquah Reindeer Festival cougarmountainzoo.org 12/1-12/24 Snowflake Lane snowflakelane.com
12/1-12/30 The Lights of Christmas thelightsofchristmas.com 12/1-12/31 Garden d’Lights at the Bellevue Botanical Garden gardendlights.org 12/1-12/31 Holiday Show at Schack Art Center | schack.org
12/1-1/1 Gingerbread Village sheratonseattle.com/gingerbread-village 12/1-1/1 WildLights at Woodland Park Zoo | zoo.org 12/1-1/1 ZooLights at Point Defiance Zoo & Aquarium | pdza.org 12/1-12/24 Live Reindeer at Country Village countryvillagebothell.com 12/2 Fall City Holiday Market fallcity.org 12/2 Julefest poulsbosonsofnorway.com 12/2 Redmond Lights redmondlights.com (events continued on next page)