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December 2017 RE/MAX National Housing Report

Sales Up Despite Years of Rising Prices, Falling Inventory

November became the sixth month of 2017 to post an increase in year-over-year home sales, bucking prolonged trends of home price increases and inventory declines, according to the December RE/MAX National Housing Report.

The sales increase of 1.1% came on the strength of increased transaction closings in 36 of the report’s 54 markets. At the same time, buyers felt increasing headwinds as the Median Sales Price rose to $227,500 and marked the 20th consecutive month of year-over-year home price increases. In fact, the Median Sales Price has increased year-over-year in 69 of the last 70 months dating back to February 2012.

November’s inventory decline of 14.5% extended the streak of consecutive months of fewer homes on the market to 108. The current streak started nine years ago, in November 2008, shortly after the RE/MAX National Housing Report was introduced.

Read the full article in RE/MAX’s newsroom…

Watch the 40 second summary video on YouTube…

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The Tax Cuts and Jobs Act – What it Means for Homeowners and Real Estate Professionals

The National Association of REALTORS® (NAR) worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate investment, as well to ensure as many real estate professionals as possible would benefit from proposed tax cuts. Many of the changes reflected in the final bill were the result of the engagement of NAR and its members, not only in the last three months, but over several years.

While NAR remains concerned that the overall structure of the final bill diminishes the tax benefits of homeownership and will cause adverse impacts in some markets, the advocacy of NAR members, as well as consumers, helped NAR to gain some important improvements throughout the legislative process. The final legislation will benefit many homeowners, homebuyers, real estate investors, and NAR members as a result.

Read the National Association of Realtors article…

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Washington State NWMLS Market Snapshot for November 2017

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The Front Porch Is in Demand

The front porch—a classic feature of American homes—is making a comeback but with a twist.

Younger crowds are literally turning porches into stages. “Porchfest” is growing in popularity across the country, in which neighborhood music festivals pop up that are enjoyed from homeowners’ front porches.

The Atlantic Monthly’s CityLab reports: “In the Instagram age, the front steps have become places to see and be seen, throw a rocking concert or party, and to foster metropolitan community in a walk-by, stop-in-for-wine sense.”

Read more on REALTORmag…

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Maintenance Tips for Protecting Your Biggest Investment

While it’s not a dramatic renovation project, regular home maintenance will help you maintain your home’s value. In fact, proper maintenance actually increases the value of a house by about 1 percent each year, according to research from the University of Connecticut and Syracuse University.

Here are some strategies for keeping on track:

Focus on Enemy No. 1: Moisture

Slowly and insidiously, water can attack your house and wreak havoc with your home. Check and clear your gutters seasonally. Make sure your windows and doors are caulked to stave off moldy invaders. Check all water-related appliances, like your fridge, water heater, HVAC and sump pump. Don’t wait on fixing leaky faucets; the drips you see may be eroding the hidden pipes.

Optimize your home’s energy

Lowering your energy bill saves you money every month and higher efficiency will be a selling point when you list your home. Hire a pro to inspect your furnace every year, and be sure to replace filters regularly. Clean and replace filters on your AC unit, as well.

Keep your curb appeal

Your home’s exterior is the first thing potential buyers see when they visit your house, so maintaining it is key to protecting your investment. Keep hedges and trees trimmed neatly to improve aesthetics, and also prevent debris from clogging drainage and damaging your home’s exterior. Power wash decks, driveways and walkways to fight mold and slippery buildup and keep them looking new.

Keep a schedule

Use a home maintenance app like BrightNest to help you keep up with maintenance tasks. Tasks can also help you keep records you can show potential buyers.

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909 Gregory Wy SE, Olympia, WA 98513

$195,000

2 bedrooms; 1 bathroom; 806 square feet

Updated, well-maintained & move-in ready! Features include new ext paint & gutters; newer roof, windows, int paint, light fixtures, doors & molding; laminate floors through-out living areas. You’ll appreciate the updated kitch w/ newer appliances, maple cabinets, counters & tile backsplash. Relax & enjoy BBQs on the flagstone patio; activities in the large, level, fully-fenced lot. Plenty of parking along the driveway & in side/back yards behind gates. Don’t miss the deep garage, shed & lean-to.

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Virtual Tour

Sold 12/12/17 for $207,000

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1529 196th St Ct E, Spanaway, WA 98387

$255,000

3 bedrooms; 2.5 bathrooms; 1,540 square feet

This bright, beautiful & well maintained home simply awaits your move-in! Features include an open floorplan w/ cathedral ceilings, laminate flrs throughout the main level, comfortable kitchen, cozy gas fireplace & newer roof. Relax on your covered front porch; enjoy BBQs & entertaining on the large multi-level deck & a variety of activities in the large fully-fenced backyard. A double gate provides access to small boat/trailer parking on the side. All appliances, freezer & lawn care items stay!

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Virtual Tour

Sold 12/8/17 for $257,000

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October 2017 RE/MAX National Housing Report

 

September Home Sales Slow Amid Strong Prices, Low Inventory

September became the fifth month this year to post a decline in home sales compared to a record-setting 2016, while marking the 71st consecutive month of rising sale prices year-over-year, according to the October RE/MAX National Housing Report.

Joining August, July, April and February, September home sales dropped 4.2% year-over-year in the report’s monthly analysis of housing data in 54 metro areas. Going in the opposite direction, the Median Sales Price increased to $225,000. Though the lowest price since March, it was 2.3% higher than September 2016. The last month when home prices did not increase year-over-year was October 2011.

Read the full article in RE/MAX’s newsroom…

Watch the 40 second summary video on YouTube…

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Washington State NWMLS Market Snapshot for September 2017

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6 Easy Ways to Boost Curb Appeal

The exterior of the home counts big for creating first impressions. Here are a few things you can do to enhance the curb appeal to your listing:

1. Paint colorful flowers.

Adding colorful flowers, like yellows or pinks, to your landscaping can be the pop of color needed to attract buyers. Visit the local nursery or garden center to learn which varieties are the most hardy for where you live.

2. Freshen up the mailbox.

The mailbox counts too in adding curb appeal. Consider a new mailbox, or try to save the old one with a fresh coat of paint. Add new numbers to the box to spruce it up too.

3. Pressure wash.

Driveways can develop oil stains and a deck can show some wear and tear. To remove pesky stains, power wash the deck and driveway to get them clean.

4. Add lighting to walkways.

Beckon buyers to the front door by adding lighting to the path to the door. This will also create a clean border along your walkway. Select solar-powered LED outdoor lights, which don’t require any wiring, to brighten up the exterior pathways.

5. Revisit the front door.

Invest in a new door if the current one is looking too old and dingy. A fresh coat of paint may help improve an existing one, if a new door isn’t in the budget. Consider a new color, like red. Also, replace the hardware, like the doorbell and locks, to give the front door a fresh new look.

6. Repaint the shutters.

Painting the entire house may not be in the budget, but sellers can still make a big impact to the exterior by painting just the shutters. They might even want to consider changing up the color to boost their curb appeal.

Source: “Foolproof Upgrades That Will Instantly Improve Your Home’s Curb Appeal,” Cheetsheet.com