OCTOBER 2022 Local Real Estate Market Trends Plus... ThepowerofWindermere.ThepersonalizedserviceofWindermereChambersBay. October Events Fall Crafts, Oktoberfest, and Trick-or-Treat: There's something for everyone Fall Selling Tips Things to Consider Preparing Your Home for Fall Your fall home maintenance cheklist 2022 Halloween Trends What to expect this year in decor Market Shift Back to the Drawing Board
October Events Fall Crafts, Oktoberfest, and Trick-or-Treat: There's something for everyone Fall Selling Tips Things to Consider Preparing Your Home for Fall Your fall home maintenance cheklist 2022 Halloween Trends What to expect this year in decor Market Shift Back to the Drawing Board
Tips to Sell TYour ips to Sell TYour ips to Sell Your Home in the HFall ome in the HFall ome in the Fall
Spring is the peak season and the best time of year to sell a house; but, that doesn't mean you can't sell (and make a profit) during the fall months or other times throughout the year.
ADVANTAGES
Serious buyers are motivated to purchase and move before the holidays and weather changes. The season makes your home feel cozy and welcoming.
There is still enough light in early fall to accommodate evening showings and weekend open houses.
DISADVANTAGES
Off peak season can mean fewer buyers. Bad weather can make showings difficult.
Falling leaves and dormant gardens can make it hard to keep up the curb appeal. Busy work and school schedules plus upcoming holidays can make it difficult to schedule showings.
Get going Selling in fall is much easier than December.
Get your photos ASAP The earlier in fall your listing photos are taken, the better the lighting and nicer your outdoor space will be.
Hire a Professional REALTOR Selling in a slower and changing market its essential to have a professional on your side that knows the market and best strategies.
Price to Sell Your agents expertise and neighborhood comps will price your home according to the market and time of year.
The
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Popular
Popular
Popular Halloween
2022
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Oversized Lawn Decorations
The oversized statues and inflatables with animated LCD eyes have risen in popularity as more people add them to their collection of festive yard decorations.
Spooky Dinnerware Pull out all the stops to impress your guests at your next spooky dinner party. Serve up terrifying treats on black and orange stoneware or find something truly unique like coffin-shaped charcuterie board from Etsy.
"Hocus Pocus" Decor
The 1993 movie "Hocus Pocus" is always popular, but since the new "Hocus Pocus 2" was released on September 30 expect to see more decor.
Most
THalloween he Most
THalloween
Most
Decorating Trends Of
Trends Of
Trends Of
Barbiecore Autumnal Products
With the new "Barbie" movie release, expect to see a lot of pink pumpkins, yassified skeletons, and Barbiecore Halloween costumes this year. People Magazine describes Barbiecore as a vibrant pink aesthetic that takes pointers from the IT girl herself. If you are not a fan of the classic spooky aesthetic, the Barbicore trend would be a cute alternative.
Strictly Themed Decor
Plan a Halloween theme: you can keep it relaxed with graveyard tombstones and skeletons, or go full fear with all things vampire including bats, coffins, fake blood, and a killer, blood-sucking costume to match. There's something to do in every room of the house. Check out Spirit Halloween for themes and ideas.
Read the full article:
The Most Popular Halloween Decorating Trends Of 2022 (housedigest.com)
Georgetown Morgue Haunted House 5000 E. Marginal Way S. Seattle, WA 98134 FrightHouse Station "Tacoma's Ultimate Haunted Attraction" 626 East 25th Street, Tacoma, WA 98421 Stalker Farms Haunted Maze Open every Fri-Sun in Oct. 8705 Marsh Rd Snohomish, WA 98296 Wild Waves Fright Fest Oct. 7 30 Family friendly by day 36201 Enchanted Pkwy S, Federal Way, WA 98003 H a u n t i n g A c t i v i t i e s Halloween Pet Parade Matching costumes for you and your pet! Oct. 8, 11 a.m. to 2 p.m. Volunteer Park, 1247 15th Ave E Seattle, WA 98112 Zoo Boo at Point Defiance Zoo & Aquarium Costumes, candy, animals eating pumpkins. 9 a.m. 3:30 p.m. Oct 15th & 16th, 5400 N Pearl St, Tacoma, WA 98407 The Museum of Fright Halloween themed games and activities at The Museum of Flight. Sunday, Oct. 30, 10 a.m. to 3 p.m. 9404 E Marginal Way S, Seattle, WA Scarecrows of Fircrest Homes are decorated with scarecrows for the annual competition. Drive around and see the displays. Oct 19 - Oct 31 F a m i l y F a l l A c t i v i t i e s
k t o b e r f e s
Maris Farms
Picha Farms
Spooner Farms
Leavenworth Oktoberfest Sept. 30 Oct. 1, Oct. 7 8 & Oct. 14 15 Town Toyota Center in Wenatchee Oktoberfest Northwest October 7-9 Washington State Fairgrounds 110 9th Ave SW, Puyallup, WA 98371 University Place Oktoberfest (come visit the Windermere Chambers Bay Team) Friday, October 14 5:00pm -9:00pm Market Square O
t P u m p k i n P a t c h e s
25001 Sumner Buckley Highway, Buckley October 1 October 31 Friday: 1 p.m. 7 p.m. (Farm activities, pumpkins, food, haunted woods, light show) Saturday: 10 a.m. – 10 p.m. (Farm activities, pumpkins, food, haunted woods, light show) Sunday: 10 a.m. – 7 p.m. (Farm activities, pumpkins, food, haunted woods) Thomasson Family Farm 38223 236th Avenue SE, Enumclaw October 1 30: 9:30 a.m. 5:30 p.m. October 31: 9:30 a.m. – 12 p.m.
6502 52nd Street E, Puyallup October 1 – October 31 Monday-Friday: 3 p.m. 6 p.m. Saturday – Sunday: 10 a.m. – 6 p.m.
9710 State Route 162 E, Puyallup October 1 October 31 Daily: 9 a.m. – 6 p.m. Double R Farms 5820 44th Street E, Puyallup October 8 – October 31
r e a t
T r i c kO rT
A r t s & C r a f t s Trick or Treat at Uptown OCT. 31 @ 4:00 PM - 6:00 PM Throughout Uptown Gig Harbor 4701 Point Fosdick Dr Proctor Treats! OCT. 31 @ 4:00 PM 6:00 PM Throughout Proctor District Tacoma Trunk or Treat & Carnival OCT. 21 @ 4:30 PM 6:30 PM UP Primary 2708 Grandview Dr. W,University Place Halloween String Art OCT. 31 @ 5:00 PM - 7:00 PM Craftopia 917 Pacific Ave Suite 100, Tacoma Tacoma Film Festival OCT. 6 13 The Grand Cineman 606 Fawcett Ave, Tacoma Family Pumpkin Carving Event OCT. 29 @ 4:00pm 7:00pm Engel & Volkers 2012 S 320th St, Suite A, Federal Way Uncorked Canvas Paint and Sip Various nights and paintings 1121 A Street, Tacoma Art Studio 27 Paint and Sip Various nights and paintings 7902 27th Street W, University Place Pop Up Vendors Galore OCT 29 @ 4:00 PM 9:00 PM Collins Grange Tacoma 3404 120th St S, Tacoma Trick-or-Treat Point Ruston OCT. 30 @ 12:00 PM 3:00 PM The Shops At Point Ruston 5020 Main Street, Ruston
Number of Closed Sales this month 1336 Down 3% compared to last month Median SOLD Price 520,000 Up 4% over Sept 2021 Days on Market 20 Up by 7 days compared to last month WindermereChambersBay September2022
Buying to Selling in this Market
Setting the right price is key in any market.
Homes are selling but they are priced right and in great shape. Being ready sell means more than just being ready to move on. Buying means knowing what to ask for. Who you work with matters. Months of pending inventory 2.2 Maintaining even since July 2022 NewListingsin PierceCounty 1570 Down7%compared tolastmonth
Real Estate is Local
The
Power Of Windermere The Personalized Service Of Windermere Chambers Bay
M U C H L I K E P E O P L E , E V E R Y M A R K E T I S U N I Q U E . S O M E M A R K E T S H A V E V I E W S , S O M E L A R G E Y A R D S F R O M H O M E S B U I L T A T T H E T U R N O F T H E C E N T U R Y T O N E W C O N S T R U C T I O N , E A C H A R E A H A S I T S O W N F E A T U R E S A N D T Y P E S O F H O M E S .
The Real Estate Market is Not In A Free Fall (and This is Why)
By:NeilGoradia
Readingrecentheadlines,you’dassumethattherealestatemarketwasabouttocollapseand,withForbesreporting thattheindustryisalreadyin“freefall,”you’dberighttohaveyourreservations.Beforeyoupanic,it’simportantto takestockofthefactorscurrentlyimpactingthemarketandrestassuredthatitsfoundationremainsintact Althoughit’sundeniablethattherealestatemarketiswrestlingwithlingeringsupplychainissues,aswellasless-thanidealinterestrates,theindustryisfarstrongerthanitwasadecadeago.Since2012,thenumberofnewhome constructionshasrisenroughly67%andhomeshomearestillsellingquickly,averaging17daysonthemarket accordingtoNAR’smostrecentexistinghomesalesreport.
CurrentHousingMarketStatus
Acrossthecountry,currentdatadoesshowtherealestatemarketistakingabreath Itwouldseemthatbuyersare tryingtograspthecurrenteconomicconditions
HeadlinesintheDenverareaassertthathousingpricesarebeingslashedinrecordnumbers,butthat’sonlypartofthe story.Jennifer,anagentandhomebuyerinDenver,Colo.,said,“ThetruthistheDenverhousingmarketisstillina healthypositionandinfactstillfavorsownersthatneedtoselltheirhouse.Weareshiftingfromasellers’markettoa slightlymoreneutralposition;however,whenqualityhomesarelistedfortherightprice,theyarestillsellingina reasonabletimeframe ”
Inshort,therealestatemarketisnotinfreefall DespiteongoingdifficultiescausedbytheCOVID-19pandemic,it remainsstrongerthanitwassincebeforetheGreatRecessionof2008.
2022WillNotBeaRepeatof2008
Tobetterunderstandthecurrentrealestatemarket,ithelpstocomparetodaytothemostrecenthousingcrisis:the 2008recession.Atthattime,themarketwasinfreefallduetoanumberoffactors,including:
Alackofjobsandincome
Theover-valuationofhomes
Thesubprimemortgagecrisis
Theburstofthehousingbubble
Ascracksbegantodevelopwithinthesubprimemortgageindustry,itbecameclearthatthehousingmarketof2008 wasbuiltonahouseofcards Theresult,asweallknowwasrecordforeclosures,amessthatwasleftbyirresponsible financialandlendingpractices
Today,however,isavastlydifferentsituation.MortgageandlendingpracticeswereoverhauledasaresultoftheGreat Recession,mosthomeownerstodayarewellequippedtoaffordtheirmortgages.Disruptionswithintherealestate markettodayarelargelyaresultofrippleswithinthegeneraleconomyleftoverfromtheCOVID-19pandemic. Goingbackto2020,theworldcametoagrindinghaltasanoverwhelmingmajorityofemployeeswerefurloughedor toldtostayhome Thiscreatedmajorbottleneckswithintheshippingindustry,leadingtowidespreadsupplyissues anddrivingupthepriceofbothconsumergoodsandrawmaterials Risingpricesledtorampantinflation,forcingthe Fedtoincreaseinterestrates,makingithardertosecurefinancing.
Today’sscenarioislessaboutanoverinflatedeconomyonthevergeofruptureandmoreaboutthelingeringaftereffectsofagenerallyslowereconomy.
DespiteaSlowerEconomy,theMarketisStillStrong
In2012,newconstructionroseby28%andwithintheyear,954,000newhomeswerebuilt Likewise,homesstarted sellingfaster withinfivemonthsratherthan Manymarketanalystsviewedthisastheendofthehousingcrisisanda returntonewdevelopment.Yet,comparing2012totoday,wecanseethatthemodernmarketisfarstronger. Evenwithbearishheadlinesprophesizingpotentialdoom,morethan1.4millionnewhomeshavebeencompleted monthlywithinthelastyear.Additionally,homesaresellingfasterthaneverbefore,sometimeswithinjustafew weeks.And,whilethesestatisticsmayhavesloweddownsincethestartoftheyear,theybynomeansindicatea collapseofthemarket
HowtoAdviseClientsHopingtoBuyorSellaHome
There’snodenyingthattherealestatemarketisinflux.Potentialbuyersarecontendingwithhigher-than-expected housingpricesandinterestrates,andsellersarestrugglingtofindnewpropertiestomoveintobeforeclosingontheir currentresidences.Thishasleftmanywonderingwhethertheyshouldjustwaitorriskalossbyengagingwitha volatilemarket.
Werecommendadvisingclientsinthefollowingways:
Long-termvacanciesareoftenmoreexpensive Ifaclienthasnooptionbuttomove,theymayconsiderkeeping theircurrenthomevacantuntiltheycansellitatabetterrate.Unfortunately,thisisn’talwayspossibleorpractical. Inmanycases,it’smoreexpensivetokeepahomevacantthantosellitforlessmoneythanoriginallydesired. Don’twaitfortheperfectdeal.Inasellers’market,it’softenhardtofindtheperfectdeal.Werecommendthat clientsconsidernegotiatingand,iftheyabsolutelymust,bewillingtoacceptaslightlyhigheraskingprice. Haveabackupplan Manyareasarestillseeinghighdemand,leavingsomehopefulbuyersstuckinbiddingwars Ratherthanwaitforanover-valuedhome,it’sbettertohaveabackupplaninplace
Workwitharealestateagent.Tryingtonavigatetherealestatemarketonyourownisarecipefordisaster.We recommendthatallofourclientsworkwitharealestateagentwhocanhelpthemfindthebestdealpossible.
TheBottomLine
Therealestatemaybeexperiencingsomedisruptions,butitsfoundationremainsstrong.Werecommendadvising yourclientsbasedontheirspecificsituationsandassuringthemthatthemarketisn’tasbadastheheadlinesindicate
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