CW Title and Escrow Newsletter | 2.2016

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the

FEBRUARY 2016

Volume 7 | Issue 2

LOCAL happenings

EYE ON THE market To alleviate the inventory issue, we may expect the following in the coming months:

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Seattle Boat Show seattleboatshow.com

5-6

Enumclaw Wine & Chocolate Festival | cityofenumclaw.net

5-6

Arlington Eagle Festival arlingtonwa.gov

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Hearts & Wine in Sodo firstharvest.org

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Wine & Chocolate in Tacoma metroparkstacoma.org

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Sweetheart Wine Walk in Sumner rhubarbpiecapital.com

 More buyers will be looking to the Someone once said “Opportunity has no off-season.” This year’s “off-season” has revealed great opportunities for persistent home buyers and Puget Sound’s real estate market has continued to amaze. Properties for sale have moved quickly, as many buyers didn’t take a break for the holidays. According to the NWMLS, closed sales in December for single-family homes were up year-over-year almost 5 percent in King County, 11.23 percent in Pierce County and just over 7 percent in Snohomish County. Local industry experts are continuing to keep an eye on low inventory, but many feel lower inventory numbers represent a new normal for our growing region rather than a cause for concern.

suburbs, particularly densely populated, developed areas in the suburbs that are walkable and have amenities.

 Buyers looking at new construction still want bigger homes, but they will have to live with a smaller lot because the price of land is so high.

 Cities in our region will take a look at zoning laws this year to see if there is a way to fit our growing population into our existing spaces. This could include more multifamily construction planned in job centers and near transportation links. The selling season is expected to get off to an early start, so the best advice for everyone involved is to be prepared for another year of growth and opportunity.

FIRST IMPRESSIONS count This year, the market is expected to heat up sooner than in years past. If you’re planning an open house, here are a few tips that will help you make a great first impression:

All over the house: Consider removing personal photos from display Garbage cans are empty Dust and vacuum Window blinds are open Lights are on Calm music is playing Bedrooms: Beds are nicely made Dirty clothes are out of sight Toys are put away Bathrooms: Non-essentials are out of sight Shower and tub are clean Towels are folded neatly Toilet lid is down

Kitchen: Sink is clear of any dishes Countertops are clear of toaster, coffee maker, etc. Clean range and microwave Living Room: Pillows/cushions are tidy TV screen is dusted Pets: Food bowls are put away Litter and cages are clean Yard: Yard is tidy for time of year Walkway/doorstep is swept Outside lights are on Outdoor toys and tools are put away

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Kid ‘n’ Critters at Northwest Trek nwtrek.org

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Northwest Flower & Garden Show in Seattle gardenshow.com

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Everett Film Fest everettfilmfest.org

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The Seattle Wine & Food Experience seattlewineandfoodexperience.com

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Seattle Home Show seattlehomeshow.com

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Lunar New Year Festival in the International District | cidbia.org Wintergrass Music Festival in Bellevue | wintergrass.com Chilly Hilly Bicycle Ride on Bainbridge Island | cascade.org


February I M P O R T A N T D A T E S TUESDAY, FEBRUARY 2 Groundhog Day

FRIDAY, FEBRUARY 12 Lincoln’s Birthday

SUNDAY, FEBRUARY 7 Super Bowl 50

SUNDAY, FEBRUARY 14 St. Valentine’s Day

MONDAY, FEBRUARY 8 Chinese New Year/Lunar New Year

MONDAY, FEBRUARY 15 Presidents Day (observed) CW & counties are closed

TUESDAY, FEBRUARY 9 Mardi Gras

VALENTINE GIFT ideas Check out the websites and ideas below for unique gifts that will be sure to please that someone special! Gifts for Parents: On the ‘Free’ Side: More Ideas:  Homemade gifts from the kids  Free Day: You take their chores, while  Cooking classes  Make A Plate Kit (at craft stores) they take off!  Couples’ cooking classes  Stepping Stone Kit (at craft stores)  Garden Crawl: Spend the day visiting  Wine tasting classes  Canvas prints of their little angels local gardens  Pottery classes Ideas: water pics for bathroom,  Movie Marathon: Binge-watch their  Photography classes messy pics for laundry room, etc. favorite flicks or TV shows! Check community colleges for classes! (canvaspress.com)  Game Night: Invite other couples over  Day at the spa or salon for a night of board game fun!  Monthly housecleaning for a year  Day Hike with Picnic (Bring blankets!)  Round of golf at a favorite course  Beer of the Month Club membership Online: beermonthclub.com etsy.com personalcreations.com craftbeerclub.com findgift.com perpetualkid.com amazingbeerclub.com kotulas.com canvaspress.com  Full car detailing (check local shops) gifts.com uncommongoods.com

MORTGAGE RATES through the years Mortgage rates remain at historic lows! Current rates remain lower than the average for 2014 and are still fluctuating near last year’s rates. Below is a chart showing 30-Year fixed-rate mortgages since 2000. It’s still a great time to enter the market! (Yearly average interest rate on 30-year fixed-rate mortgages)

Year

High Monthly Average

Low Monthly Average

Yearly Average

2015

4.05 (Jul)

3.67 (Jan & Apr) 3.85

2014

4.43 (Jan)

3.86 (Dec)

4.17

2013

4.49 (Sep)

3.41 (Jan)

3.98

2012

3.95 (Mar)

3.35 (Dec)

3.66

2011

4.95 (Feb)

3.96 (Dec)

4.45

2010

5.10 (Apr)

4.23 (Oct)

4.69

2009

5.42 (Jun)

4.81 (Apr)

5.04

2008

6.48 (Aug)

5.29 (Dec)

6.03

2007

6.70 (Jul)

6.10 (Dec)

6.34

2006

6.76 (Jul)

6.14 (Dec)

6.41

2005

6.33 (Nov)

5.58 (Jun)

5.87

2004

6.29 (Jun)

5.45 (Mar)

5.84

2003

6.26 (Aug)

5.23 (Jun)

5.83

2002

7.01 (Mar)

6.05 (Dec)

6.54

2001

7.16 (Jun)

6.62 (Oct)

6.97

2000

8.52 (May)

7.38 (Dec)

8.05

Figures from www.freddiemac.com

Volume 7 | Issue 2


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