the
FEBRUARY 2018
Volume 9 | Issue 2
EYE ON THE
FEBRUARY happenings
market year in King County by 15.45 percent, in Snohomish County by 12.50 percent and in Pierce County by 12.25 percent.
A recently released report on real estate activity nationwide shows the Seattle metro area with 19 of the 25 most competitive markets in the country. The study took into account price appreciation, days on the market, how many sales were above list price, and other factors. That stunning result supports what many in the market for a home are currently experiencing: Our region is hot, and competition is fierce. The latest statistics from the Northwest MLS show closed-sales prices for singlefamily homes are again up year-over-
2018 FINANCIAL
Inventory remains the biggest concern for our region’s housing-market health. Brokers are reporting brisk traffic at open houses, and properly priced listings are moving fast. Some are speculating that the Seahawks missing the playoffs this year might have allowed prospective buyers a bit more time on the weekends to visit homes. While that may be true in many cases, the fact is that there are plenty of qualified buyers scouring the market and more entering every day.
It’s a great time to live and work in our area, and to invest in real estate here. There is no shortage of buyers, and for those who’ve been sitting on the fence about selling a home, now is a great time to enter the market and maximize their return.
1-3 Seattle Boat Show seattleboatshow.com
1-10 Children’s Film Festival childrensfilmfestivalseattle.org 2-3 11th Annual Eagle Festival arlingtonwa.gov 8 &10 UW CulturalFest | fiuts.org/events 9 Wine & Chocolate at Seymour Conservatory metroparkstacoma.org 11 Pike Chocofest strangertickets.com 11 Lunar New Year Celebration cidbia.org/event 14 Valentine’s Day Cocktail Hour at the Volunteer Park Conservatory brownpapertickets.com/event/1152572
resolutions
As you begin to prepare for tax time, February is a great time to take a look at your finances to ensure that you’re ready to reach your investment goals for the year. Here are a few suggestions to get you started with assessing your current situation: 1) Reassess your mortgage, and make sure it suits your current financial situation. Salary and cost-of-living fluctuations over the year can affect your monthly cash availability. Consider refinancing for better rate terms if the opportunity becomes available this year. 2) Review your insurance policy coverage, and shop other companies to see if you qualify for a lower premium. Make sure your policy adequately covers your home’s value, condition and any improvements you’ve made over the years. See last month’s newsletter for more tips for reviewing your homeowner’s insurance.
3) Obtain a copy of your credit report, and look for any errors. Mistakes on your report could significantly affect your ability to get a loan and could possibly increase the rates you pay. Follow up with the companies to correct any errors, and notify the three main credit bureaus (TransUnion, Experian and Equifax) once fixed. 4) If you're thinking about buying a home this year, start planning now. Cut out unnecessary spending in order to pay off any debt and to save up for emergency or repair expenditures. If selling a home, speak with a real estate professional or contractor about which improvements to your home can get you the best return.
16-17 Everett Film Festival everettfilmfest.org 16-22 Noir City Film Festival | siff.net
17-18 Fly Fishing Show flyfishingshow.com 17-19 Kids’n’Critters | nwtrek.org 17-25 Seattle Home Show seattlehomeshow.com 22-24 Seattle Wine & Food Experience seattlewineandfoodexperience.com 22-25 Asian American Film Festival seattleaaff.org 22-25 Wintergrass Music Festival 2018 wintergrass.com 24 Lunar New Year - Bellevue lunarnewyear.bellevuecollection.com 24-25 So Northwest Women’s Show nwwomenshow.com