CW Title and Escrow Newsletter | 5.2018

the

Volume 9 | Issue 5

EYE ON THE

MAY 2018

According to a national home price report, the Seattle-area real estate market has been the hottest in the country for the past 17 months. The fact that the market has remained at a steady boil and has set records can be attributed to our thriving economy and plenty of desirable employment prospects continuing to attract new residents to our region.

In fact, a recent article in The Seattle Times reports that “Seattle is the only metro area outside of the Sunbelt that had more people move in from other parts of the country than move away.”

New census data shows that among the country's 15 largest metro areas, just five areas had an increase in net domestic migration (people moving in

MAY IS

MAY happenings

market from within the U.S.). Seattle came in at No. 5 with more than 21,000 new residents from 2016 to 2017, behind Dallas, Phoenix, Atlanta and Riverside, Calif.

1 May Day Celebration and Potluck fremontartscouncil.org/may-day/

Given this steady stream of new residents, inventory remains the main story for our local market. The most recent stats from the Northwest MLS show a heartening uptick in the number of listings throughout our region month-over-month, as well as year-over-year for the same time period. It seems that more sellers are finally deciding to make a move.

The most recent sales statistics from the Northwest MLS also show that closedsales prices for single-family homes continue to rise. Prices are again up yearover-year in King County by 15 percent, while in Snohomish County, prices are up by 11.76 percent and in Pierce County by 18.63 percent.

While rising mortgage rates have added another layer of complexity to the homebuying process, savvy and determined buyers are adjusting their goals and finding a way to remain in the hunt.

5 13th Annual Cinco de Mayo Celebration elcentrodelaraza.org

national home improvement month

Here are some tips to help you prepare your home and family if you’re planning projects over the next few months.

Research. Start researching early so you can make as many decisions as possible before target areas are gutted.

Get referrals. Find qualified and licensed contractors, interior designers and other professionals by contacting friends and family who can give you recommendations. Be sure to ask for references, and allow time to view past work to gauge quality and experience.

Allow time for permits. Keep track of whether your contractor has applied for and received permits that are needed for the work to be begin. There may be other permits needed later, but it’ll

5 Opening Day 2018 Boat Parade seattleyachtclub.org

12 Half-Price Moms’ Day at the Zoo | pdza.org 12 Mom & Me at the Zoo zoo.org 12 Seattle Maritime Festival seattlemaritime101.com

13 The Color Run 5K thecolorrun.com May 17- Seattle International Film June 10 Festival | siff.net/festival 19 Armed Forces Day jblmmwr.com/armedforcesday

save time to pull the permits needed by the time work is scheduled to begin.

Arrange for materials early. Order supplies as soon as possible to ensure that you get the style and finishes you want without delay. Inspect everything (continued on next page)

19-20 University District 49th Street Fair | udistrictstreetfair.org 26 Tankfest Northwest facebook.com

May 30- Bellevue Jazz & Blues Festival June 3 bellevuedowntown.com

May

I M P O R TA N T D AT E S Tuesday, May 1 May Day Saturday, May 5 Opening Day of Boating

tips to help you prepare for a

HOME REMODEL

Tuesday, May 8 Teacher Appreciation Day (continued from previous page)

Sunday, May 13 Mother’s Day Saturday, May 19 Armed Forces Day Monday, May 28 Memorial Day

2018 COLORS of the YEAR The 2018 color of the year is … well, it depends on who you ask. The selections for 2018 run the gamut (pun intended), and each paint company or color authority has their own take on what the new trendy color should be. Paint can brighten a space and it’s been reported that certain colors may even fetch you a higher sales price when it comes time to list. Whether you’re painting your kitchen or swapping out accessories in your living room, now is a great time of year for indoor projects that are begging for a change in color scheme, whatever color you choose.

Here are the trendy colors chosen by major paint companies and color experts, along with painting and decorating ideas to consider for each:

Ultra Violet

Deep Onyx

PANTONE Color: “Ultra Violet” Buzz: classic glamour, inventive, imaginative Use on: throw pillows or paint an accent wall GLIDDEN Color: “Deep Onyx” Buzz: no-fuss, less is more, can be neutral Use on: doors, trim, cabinets instead of white

SHERWINWILLIAMS Color: “Oceanside” Buzz: both accessible and Oceanside elusive, welcoming Use on: front door, home office or reading nook

In the Moment

Caliente

Black Magic

BEHR Color: “In the Moment” Buzz: soothing, restorative, mood-altering, cozy Use on: home exteriors, furnishings, textiles, tableware BENJAMIN MOORE Color: “Caliente” Buzz: charismatic, energetic, dramatic, playful Use on: home library, glossy front door, lamps OLYMPIC Color: “Black Magic” Buzz: security, intellectual, independent, sophisticated Use on: exterior window trim, shelving, dining room

as it arrives so that you can make exchanges of damaged items as early as possible during your renovation.

Create stand-in spaces. If you’re living in your home while the work is happening, plan to set up temporary spaces to stand in for the space you’re remodeling. Be sure they’re located out of the way of contractors. For instance, if you have a bar sink in the family room, add a mini fridge and top with a small microwave so the area can serve as your kitchen for quick meals.

Prevent dirt, dust and damage. Cover furniture and other surfaces with sheets or drop cloths to protect from construction dust. This will save you time and perhaps even cleaning fees after the work is done. Also, remove fragile items from walls and shelves to protect from damage.

De-stress your pets. Renovations can be hard on your pets. Have a friend look after your furry family member, or kennel your pet during all or part of the renovations. If this is not possible, create an area with all your pet’s favorite toys, food and water for them to hang out in. Be sure to let contractors know which area is off-limits, and caution them to not open the door.

(Post a sign.)

Keep kids busy. Although summer is a great time to do remodels, if you have young children who are around the house more during the summer, it might be worth considering postponing your renovations until they are back in school.

Otherwise, schedule activities to keep children from being underfoot during what is likely to be a dangerous time around the house.

Stay positive. Most importantly, keep your eyes on the finish line no matter how stressful things may become. Once the work is done, you’ll get to enjoy your newly renovated space.

To find additional tips for getting ready for a home remodel, visit www.nari.org.

Volume 9 | Issue 5