October 2020 Newsletter

Page 1

the

Home Connection

Volume 11 | Issue 10

OCTOBER 2020

eye on the market As we enter the fall season, brokers report that the real estate market is still highly saturated with buying activity. Concurrently there’s been a decline in mortgage applications, despite mortgage rates remaining below 3 percent. Low interest rates have contributed to a significant increase in refinances and in turn, a decrease in home inventory available for sale as homeowners decide to stay put. Low mortgage rates and low inventory of houses have also continued to drive up home prices, making the market extremely competitive for homebuyers. The competitive landscape has not deterred buyers as there have been more multiple offer situations and an increased number of closed sales in our region. According to the Seattle Times, price growth in King, Pierce and Snohomish counties topped national averages for the eighth month straight. The most recent statistics from the Northwest MLS also show median

experience this! closed-sale prices for single-family homes are up significantly. Year-over-year in King County prices are up by 10.89 percent, in Snohomish County up by 13.27 percent, in Pierce County up by almost 15.84 percent and in Thurston County up by nearly 11.91 percent. These market conditions are said to have affected the home buying demographic and influenced trends. Many more young home buyers have entered the market as millennials are reportedly taking out more for-purchase loans than last year. It will also be interesting to see if there is continued movement out of urban areas into the suburban and rural areas since more people are able to work remotely on a permanent basis due to the pandemic. As we approach the winter months, time will tell how these trends will shape the coming real estate market and how the amount of inventory available to purchase will affect buyer demand.

Caffeine & Gasoline: Race Cars 10/3

Bellevue Jazz and Blues Music Series 10/5- 10/9 Virtual

Celebrate Schools 5K 10/10

The Seattle Glass Experience 10/15-10/18

Issaquah Goes Apples 10/17

Tacoma Holiday Food & Gift Festival 10/22-10/25

Zombie Walk 10/24

Seattle Children’s Festival 10/24-10/25

improving air quality in your home Improving Indoor air quality is a key factor of keeping a healthy home. Indoor allergens and irritants such as dust, pollen, and chemicals are often found in the air at home which can result in respiratory issues, allergy flare ups, and other illnesses. Here are a few tips to help keep your air clean.

• Vacuum floors and carpets weekly.

Keeping floors vacuumed reduces dust particles chemicals, and allergens in the air. Using a vacuum with a HEPA filter reduces concentrations of lead and other toxins in your home. It is also important to use a vacuum cleaner that has strong suction with rotating brushes. In high traffic areas vacuum the same spot several times. Don’t forget to vacuum walls, carpet edges, and upholstered furniture, where dust accumulates.

• Take your shoes off & keep a floor matt

at every door. Taking your shoes off whenever you come in from outside is crucial to keeping air clean as our shoes can track dirt, pesticides, chemicals, and pollutants into the home. Keeping a mat near the door helps to collect any dirt and pollutants from shoes and keeps them on the mat instead of on your floors. continued on next page

Craft Classic Half Cobweb Carnival Marathon and 5K 10/31 Virtual Race


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