the
Home Connection
Volume 13 | Issue 2
FEBRUARY 2022
eye on the market For the start of the second month of the 2022, there’s excitement in the air for what this year’s real estate market will bring. Intense shortages of inventory, along with record-low temperatures and snow put a strain on recent housing activity, beyond the typical seasonal slowdown. Statistics from the MLS showed the volume of new listings added area-wide dropped by 12.3% last month, as compared with the same month a year ago. Year-over-year inventory, pending sales, and closed sales all fell by double digits. However, prices on homes rose by close to 17.4 percent overall for homes in most counties. The data coming from Northwest MLS gave us a deeper dive into the closed sale price escalations for specific counties, compared with the same month a year ago. In King County prices are up by 9.46 percent, in Snohomish County up by 36.99 percent, in Pierce County up
experience this! by almost 18.87 percent, in Thurston County up by almost 20.50 percent, and in Spokane County up by nearly 23.8 percent (Spokane Association of REALTORS). According to brokers, buyers are hoping for an influx of inventory this upcoming season. More housing units could potentially function to slow down price growth of the area’s existing housing and relieve the intense competition buyers continue to experience. High buyer demand has kept the pressure on for securing a sale and sellers are still seeing multiple offers, waived inspections, and cash offers to close the deal. However, sellers are also having difficulty in this hot market with trying to find replacement properties, which has in turn discouraged potential sellers from listing their homes. As we enter into the spring market, it will be interesting to see if these conditions change and how sellers and buyers will interact during the busiest season in real estate.
Tax tips and tricks
The Play That Goes Wrong 2/3
Valentine’s Concert 2/11
Seattle Boat Show 2/4-2/12
29th Annual Hillsdale Brewfest 2/19
Belgian Fest 2/5
Inlander Restaurant Week 2/24-3/5
Run or wine 5K & 8K 2/5
Love in the Market 2/26
Tax season is almost here and now is a great time to get prepared. To help prevent stress, here are a few helpful tips to make the tax prep process as smooth as possible.
• A great first step towards preparing for
tax season is to get organized. Clean out your filing cabinet, desk, or junk drawer where you keep your mail and make sure important papers are in order.
• Create a folder for all the tax paperwork and forms you’ll need for this season that is separate from last year’s forms (including your returns) and have them ready to go in case you need to reference them.
• As soon as you have your W-2
form(s) you can start your taxes. The earlier you start the more leeway you have to correct mistakes or
to seek professional help if you realize you need it.
• Round up all 2020 receipts, canceled
checks and other documents that support income and/or deductions that you plan to claim on your return. Set aside an envelope or folder to collect the documents that arrive in the mail so you’ll have them all in one spot when the time comes to complete your return.
• Your W-2 and/or 1099 has
Historic Pub Crawl 2/10
Green River Glass Show & Sale 2/26
to be postmarked no later than January 31, so be on the lookout for delivery of these in early February.
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