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JANUARY 2016
Volume 7 | Issue 1
LOCAL happenings
EYE ON THE market Happy New Year! We’re at the beginning of what promises to be a great year in real estate for the Puget Sound region. The market went into it’s usual slowdown heading into December with MLS statistics from November (most recent available) showing a dip in inventory. Despite low inventory and stormy weather, there were still many qualified buyers out searching for their next home. Most well-priced listings experienced high traffic and great offers right through the holiday season. Of course there are buyers who take the holidays off from the market. We expect those buyers to return along with additional prospective home buyers comprised of new residents moving to the region, Millennials who have decided it’s time (or are now financially able) to buy and renters reeling from record-setting rent
increases in our region. That pent up demand may indicate an early start to the 2016 real estate season as buyers hope to get a jump on the spring market. Sellers contemplating putting their home on the market may enjoy a shorter time on market if they list their home on the market during the first quarter of 2016. Sellers successful in selling their home earlier in the year, may also find they are in a better position to buy a home in early spring without the contingency of selling their home first. Lastly, we should also note It’s widely reported that the Federal Reserve is set to raise interest rates in 2016. While it’s thought a rise in interest rates will not deter most buyers, many will want to consider the cost savings over the life of a loan with a lower rate. It looks like we're in for another exciting year!
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Polar Bear Plunge at Matthews Beach Park | seattle.gov
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Polar Bear Plunge at Point Defiance Park metroparkstacoma.org
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Kirkland Art Walk explorekirkland.com
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Dr. Martin Luther King, Jr. Celebration at the Paramount kingcounty.gov
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Northwest Remodeling Expo in Seattle homeshowcenter.com
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Model Railroad Show at Pacific Science Center pacificsciencecenter.org
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Sounds of Brass Concert in Tacoma | brassunlimited.org
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Free Entrance into State & National Parks discoverpass.wa.gov
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Dr. Martin Luther King Jr. Celebration at Garfield High School | mlkseattle.org
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Dr. Martin Luther King, Jr. Celebration in Tacoma cityoftacoma.org
NEW YEAR’S FINANCIAL resolutions The new year is also a great time to take a look at your finances to ensure that you’re ready to reach your investment goals for the coming year. Here are a few suggestions to get you started with assessing your situation:
Reassess your mortgage and make sure Review your insurance policy coverage 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.
Order a copy of your credit report and look for any errors. Mistakes on your report could significantly affect your ability to obtain a loan or 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.
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.
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/repair expenditures. If selling your house, speak with a Real Estate Broker about making smart improvements to your home that can help get you the best return.
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Children’s Film Festival Seattle childrensfilmfestivalseattle.org
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Washington Sportsmen’s Show in Puyallup thesportshows.com
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Tacoma Home & Garden Show otshows.com
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Seattle Boat Show seattleboatshow.com