Maddoxville | April 2017

 


 

Maddoxville | April 2017

View this email in your browser

Springtime rush is just on the horizon

March and April are usually my busiest months of the whole year. This year feels different— I am busy but for different reason. The log jam of my buyers that can’t find homes due to lack of inventory, and my sellers that are waiting for the sunshine to finally come out and add some color to their yards is piling up. When this dam finally breaks I am going to be just trying to stay afloat. I am hoping that many other agents in the area are also on the brink of listing several homes and maybe we will see a small spike in inventory over the next few weeks and months.

However, I am happy to report that, I do have two buyers that are currently pending on homes that they did not have to compete on, and they are both in Seattle. Both were able to have an inspection contingency, and negotiate on the items. There ARE homes out there that are not going for 20% over the asking price, you just have to be patient.

Now if I could just figure out how to get the sun to come out!

How far does your budget go?

Affordability is a key factor when shopping for a home. Below you will find four properties that have closed in the past 30 days in Seattle, Bothell, Issaquah and Auburn.

 

Capitol Hill, Seattle

Address: 1620 Belmont Ave

Bedroom: 1

Bath: 1

SqFt: 680

Sold Price: $500,000

 

City: Bothell

Address: 22714 4th Ave SE

Bedroom: 4

Bath: 2.75

SqFt: 1,817

Sold Price: $501,000

 

City: Issaquah

Address: 4155 248th Ct SE

Bedroom: 3

Bath: 2.25

SqFt: 1,501

Sold Price: $510,000

 

City: Auburn

Address: 10913 SE 304th St

Bedroom: 4

Bath: 2.5

SqFt: 2,823

Sold Price: $499,950

IN THE NEWS

19 homes sell for more than $2 million or more this year

Prices are up around the region, with more interest coming to high priced homes, 127 homes recently sold for $1 million or more. The median price of a single-family house in King County is now $560,000, and prices are up 14 percent. Puget Sound Business Journal says “the number of homes for sale will increase as the spring selling season begins, but with that will come more buyers.” The inventory crunch is pushing home prices up as buyers compete to win the sale.

Region’s prices reach new high, median price hits $700k

Prices in March reached a new record, with an almost 7% jump from the month before in some areas. The median price in Seattle has reached $700,000 for the first time, doubling from five years ago. Wow. Almost 3/4 of a million dollars. The Seattle Times says “Demand — propelled by rising employment numbers, growing salaries and tenants desperate to escape soaring rents — has far outstripped a supply of homes for sale that reached an all-time low in February, creating intense competition and driving up prices.”

I am often asked if this is a “bubble,” and although I do think it will level out eventually, it feels so different from the bubble of 2007. The banks aren’t justifying these insane prices, the buyers are waving their financing contingencies and putting in more cash to cover the difference of a low appraisal. This is supply/demand and buyer generated by a pool of buyers that have more cash than we have ever seen before. We think millennials live with their parents longer, at this rate my kids will never be able to afford to move out!

How many construction cranes does Seattle have?

Apparently there is a rumor going around that Seattle has more cranes than Dubai, which with 900 cranes building some of the tallest buildings in the world, all at the same time, is very difficult to compete with. KUOW has a story looking at the number of cranes around the city, and surrounding area. We do have more cranes than L.A., San Francisco, and Chicago. Spoiler alert: Seattle has 60.

Trending: Terrazzo is making a comeback

Do you remember the flooring material with the tiny bits of glass found in large high traffic buildings? It’s called Terrazzo, and Apartment Therapy says it’s making a comeback. This time around it’s being used not just as a flooring material, but also for countertops.

PENDING

 

Bidding wars have reached South King County! Listed this home in Covington for my clients, and in just 2 days we had 4 offers and it is pending for well over the asking price!

NEW LISTING

 

Custom-built home in the High Valley neighborhood hits the market this week for $699,000. Check out the 3D virtual tour, and walkthrough this home from the comfort of your living room!

FIND #heathershousefavs ON SOCIAL MEDIA

Did you know, the mobile app has a mortgage calculator as well as a calculator to estimate your net proceeds from your sale?  These tools can be found in the House Hunt and Sellers sections of the app.

 

Whether you are a first-time buyer, seller, or a seasoned market veteran— the Heather Maddox Homes app will be a valuable tool to explore your Real Estate market. Heather Maddox Homes focuses on top-notch customer service and client education as we help you navigate the milestones of homeownership. D

Facebook

@HeatherMaddox

Website

Instagram

Email

I can’t believe in a few short months we will be moving into Blackberry House! Currently it is projected to be complete by June 1st. I also have to put in a plug for my awesome builder, JB McHugh Construction, because they have stayed on schedule the entire time. It’s been a marathon of decisions and negotiations to make, like paint colors, flooring, cabinetry and tile. Hadley wants a pink wall and purple ceiling, Harper wants just about every color in the rainbow! Thankfully Shawn and I are on the same page on just about every decision (aka he is letting me make most of them), and it’s going to be so nice to move in and enjoy our new home. We are literally in the HOME stretch.
Check out the Blackberry House on Instagram.

MADDOXVILLE APPROVED

Nine’s Cleaning Service
nina@ninecleaning.com
541-961-7575

www.ninescleaning.com

Nine’s Cleaning Service does all of my prelisting cleaning and does a great job. Nina is very friendly, and offers plans that fit most budgets.

For my clients, she would like to offer a 20% discount on first time cleanings!

Copyright © 2017, Heather Maddox Homes, All rights reserved.

Heather Maddox, Broker
206-330-9185
heathermaddox@windermere.com

Our mailing address is:
3800 NE 4th St.
Renton, WA 98056

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list

SUBSCRIBE TO MADDOXVILLE

 

 


Posted on April 7, 2017 at 11:09 pm
Heather Maddox | Posted in Newsletter |

Maddoxville | February 2017

 

 


MADDOXVILLE: a real estate information newsletter
www.heathermaddoxhomes.com

View this email in your browser

 

SUBSCRIBE TO MADDOXVILLE

Happy 2017! So far this year is exactly as predicted— with no inventory! There are so many qualified buyers that are eager to find something. It’s difficult, because there are 70% fewer homes for sale in King County than five years ago in 2012. Many potential sellers are sitting on the fence because they are worried about where they will go when their house sells in the first week. This is a valid concern, however we are getting creative. Longer closings, rent backs for sellers, VRBO/vacation rentals are just some solutions we have used. In 2017, you will definitely get top dollar for your sale, the prices are surpassing any precedent and expectations. Prices in King County increased 14.2% last year. In the world of real estate we never know exactly how long this will last, so another option is to cash out and rent for a year or two and see if the market levels out. Current forecasters are calling for leveling/slowing in 2019, read the Gardner Report from Windermere Chief Economist Matthew Gardner below for some market predictions and analysis. Only time will tell where this market goes…

We are so excited to launch the Heather Maddox Homes app!  This app was 100% created by my team for my clients. It all started two months ago with a very simple idea of getting my industry contacts to all of my clients in an easy and usable way. After lots of brainstorming it evolved into a full blown swiss-army knife of an app for all of your Real Estate needs. Hayes spent nearly all of his time teaching himself how to develop an app. I am so proud of what he created! Please check out our video and then download it, and share it with your friends! We also welcome any feedback, so please let us know how it’s working for you!

Click here to download

 

Promo Final

Click on the image above to see a short promo video about the Heather Maddox Homes app.

IN THE NEWS

Home prices remain high, inventory remains tight

Seattle is now officially the second tightest housing market in the country, behind San Francisco. The Seattle Times reports that one of the reasons the market is so tight for buyers is that “no one is selling their house.” Seattle is also seeing the nation’s highest price increases for the third straight month. Supply is dwindling at a time when demand keeps rising with job and population growth, and renters keep getting fed up with pricey apartments.

Seattle treehouse in Magnolia hits market at $475,000

The Seattle Times tells the legal saga of a lighthouse-shaped treehouse in Magnolia that is only accessible by boat, when the tide is out. The treehouse was built and featured on an episode of “Treehouse Masters” and the legality of transferring ownership for a structure built without permits has been in court.

Region now home to 4 million residents

KUOW reports that all indicators point to 4,000,000 people calling the Puget Sound area home. KUOW’s Region of Boom team welcomes all the newcomers.

Windermere, University of Washington launch Real Estate Minor

The University of Washington recently launched a minor in Real Estate studies thanks to a $5.4 million gift from Windermere founder John Jacobi and his wife, Rosalind.

As the Official Real Estate Company of the Seattle Seahawks, Windermere donated a total of $35,000 to YouthCare to help #tacklehomelessness, $100 for each home tackle.

RECENTLY SOLD

 

This home had only been on the market for a few days and I was able to negotiate with the listing agent to allow my Buyer to present an offer prior to the review date, and it was accepted!  Getting creative in this market is crucial.

 

This 4 bedroom, 3 bathroom Fairwood Greens home went on the market the week of Thanksgiving & in just 2 days on the market, I was able to fetch $40k over the asking price for my Seller.

GARDNER REPORT
 

I believe that the big story for the coming year will be first-time home buyers. Since they don’t need to sell before purchasing, their reemergence into the market ensures that sales will continue to increase, even while inventory is limited. Thirty-one percent of buyers currently in the real estate market are first-time buyers, but it would be more ideal if that figure was closer to 40 percent.

Why don’t we have enough first-time buyers in the market? With Baby Boomers working and living longer, we aren’t making much room for Millennials to start their careers. Plus, the major debt that the younger generation owes on student loans ($1.3 trillion today) hugely impacts the housing market.

But the bigger issue is lack of down payments. Before the recession, many Millennials could look to their parents for help with down payments; however, these days that is not as much the case. I would also contend that the notion of Millennials being a “renter generation” is nonsense. In a National Association of Realtors survey, 75 percent of them said that buying a home would be the most astute financial decision they’d ever make; however, 80 percent said they don’t think they could qualify for a mortgage.

I do believe that Millennials will eventually buy, but they’re delaying their purchasing decisions by about three years when compared to previous generations, which is about the same amount of time they’re waiting to start families as well.

Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics.

MADDOXVILLE APPROVED
 

Eastside Tree Works

425-956-4948
206-396-9998
www.eastsidetreeworks.com

As spring is on its way, you might want to have your trees inspected by an arborist. Eastside Tree Works provides a variety of tree-related services, from pruning to stump grinding.

Subscribe to NEIGHBORHOOD NEWS

The best way to stay connected to what’s happening in the real estate market in your area, is to subscribe today to NEIGHBORHOOD NEWS.

FIND #heathershousefavs ON SOCIAL MEDIA

@HeatherMaddox

Facebook

Instagram

heathermaddox@windermere.com

www.heathermaddoxhomes.com

The #blackberryhouse‬ is on track for a June completion. It has a roof, gutters, decks, fireplaces and windows. To me, it will start to feel like a home when it’s not freezing cold inside. We recently spent almost 4 hours on a 30 degree day deciding where all the electrical outlets and light switches will go. I had to take a break in the middle to warm up!  So far my overall thoughts on designing a custom house is that it is exciting & fun, but perhaps timing could have been better. With full-time jobs and parenting two kids, this often feels like yet another full-time job! Check out the latest updates on the #blackberryhouse Instagram page!



Heather Maddox, Broker
Windermere Real Estate/Renton, Inc.
heathermaddox@windermere.com
206-330-9185

SUBSCRIBE TO MADDOXVILLE

Copyright © 2017 Heather Maddox Homes, All rights reserved.
Our mailing address is:
Windermere Real Estate/Renton Inc.
3800 NE 4th St.
Renton, WA
Want to change how you receive this newsletter?
your preferences or unsubscribe from this list


 

This email was sent to *|EMAIL|*

why did I get this?    unsubscribe from this list    update subscription preferences

*|LIST:ADDRESSLINE|**|REWARDS|*

 


Posted on March 14, 2017 at 6:22 pm
Heather Maddox | Posted in Newsletter |

Maddoxville | December 2016

*|MC:SUBJECT|


MADDOXVILLE: a real estate information newsletter
www.heathermaddoxhomes.com

View this email in your browser

 

SUBSCRIBE TO MADDOXVILLE

Happy Holidays! As 2016 closes, I have been reflecting on the past year. This year I am proud to be in the top 4% of all agents in Washington State (more than 20,000 people!)
I am constantly working hard to learn, better myself, and use each sale as a tool to make the next one easier for all parties. I never take the responsibility of assisting people with what is often their largest purchase lightly. I realize the weight of the amount of trust that my client put into my hands.

This year I also learned a lot about managing my responsibilities, and letting go of (some of) the control. I was lucky enough to have Hayes Trimm join my team and I know now that hiring him was an invaluable decision. Hayes has been behind many of the new and innovative ideas we have rolled out for Heather Maddox Homes in 2016. He is smart, thoughtful, and an excellent team player who understands that our main goal is to have clients that come back to us and trust us with their friends and family.

We have some exciting ideas for 2017, so make sure you keep tuning in. We are always here to help and are never too busy to assist you, or your friends and family, with their real estate needs! Have a happy & safe holiday season and we will see you next year!

GARDNER REPORT
 

What to Expect in Housing Affordability

What keeps Windermere’s Chief Economist, Matthew Gardner, up at night? Housing affordability. See what he has to say about how West Coast Cities can improve housing affordability through policy and infrastructure changes.

IN THE NEWS

Seattle becomes nation’s hottest housing market

GeekWire says it’s official, Seattle is the nation’s hottest housing market— driven largely by the tech boom. As GeekWire has previously reported, “there are now more than 80 engineering offices in the Seattle area operated by large tech giants, including fast-growing offices for Facebook, Salesforce, eBay and others. Homegrown tech companies such as Amazon.com, which now employs more than 25,000 people in the Seattle area, also are adding to the boom.”

8 experts predict what the 2017 housing market has in store

Inman, an online real estate publication, brought together 8 experts, including Windermere’s Matthew Gardner, on the outlook for housing in 2017.

Seattle buyers, spooked by rising interest rates, rush to buy

The Seattle Times reports that the region saw a roughly 30 percent rise in home sales in November as mortgage rates climbed. Home buyers hurried to lock in their interest rates and some without a rate lock found that they could no longer afford the home price they were approved for just months ago. This story has an informative map of sub-markets in the region.

$750 per month for a apartment the size of a parking space?

 

In what is arguably the smallest apartment in the city, The Seattle Times recently ran a story about a room for rent in the University District that is the size of a parking space! It’s a room with a shower, toliet, and sink.
New York is known for it’s “shoebox” size apartments and it looks like Seattle is offering spaces to fit that niche.

As the Official Real Estate Company of the Seattle Seahawks, Windermere is donating $100 per Seahawks home game tackle to YouthCare to help #tacklehomelessness. Last week the team made 28 defensive tackles, increasing our donation to YouthCare by $2,800 for a total of $20,700 this year! Go Hawks!

PENDING
 

This was my 2nd listing this fall in the popular Fairwood Greens community. Living room with vaulted ceiling, open beams, and fireplace. Slider opens to deck overlooking lovely backyard. This home went pending in just 2 days.

 

This 3 year old home was a perfect choice for my first time homebuyer!  Almost everything is new, the maintenance is very low, the location is perfect for them and it looks like they will be moving in before Christmas!

RECENTLY SOLD
 

I sold this adorable 1 bedroom, 1 bath condo in the heart of West Seattle to my client several years ago. We put it on the market the week before Thanksgiving and we ended up with a cash offer that closed in less than 2 weeks.

 

Longtime clients of mine bought new construction in a Toll Brothers community in early 2016. We have watched their home come to life over the past 10 months, and they were finally able to move in just after Thanksgiving.

MADDOXVILLE APPROVED
 

1-800-351-9563
www.environix.com

 

We live in a very wet climate, and often something as small as a missing roof vent, or a bathroom fan that is vented incorrectly can cause harmful mold in your attic. It is wise to pop your head into your attic a couple times a year to check the status. If you want a professional mold inspection, I would highly recommend Environix! I have been working with them for over 10 years and they always do a great job.

Subscribe to NEIGHBORHOOD NEWS

The best way to stay connected to what’s happening in the real estate market in your area, is to subscribe today to NEIGHBORHOOD NEWS.

FIND #heathershousefavs ON SOCIAL MEDIA

Thankful for amazing, loyal clients! I delivered pies to so many of the people that made 2016 a success; Clients that bought, sold, or referred me a client this year— thank you!
Happy Holidays!

@HeatherMaddox

Facebook

Instagram

heathermaddox@windermere.com

www.heathermaddoxhomes.com

Construction continues, the exterior walls have gone up and we have been busy making decisions on interior finishes.

I can’t believe that this time next year we will be in our new home! Building a house is very much a marathon, and we have reached the half-way point!

I’ll continue documenting progress in this space, but between newsletters the #blackberryhouse has its own Instagram page!



Heather Maddox, Broker
Windermere Real Estate/Renton, Inc.
heathermaddox@windermere.com
206-330-9185

SUBSCRIBE TO MADDOXVILLE

Copyright © 2016 Heather Maddox Homes, All rights reserved.
Our mailing address is:
Windermere Real Estate/Renton Inc.
3800 NE 4th St.
Renton, WA
Want to change how you receive this newsletter?
your preferences or unsubscribe from this list


 

This email was sent to *|EMAIL|*

why did I get this?    unsubscribe from this list    update subscription preferences

*|LIST:ADDRESSLINE|**|REWARDS|*

 


Posted on March 14, 2017 at 6:20 pm
Heather Maddox | Posted in Newsletter |

Maddoxville | October 2016

 


MADDOXVILLE: a real estate information newsletter
www.heathermaddoxhomes.com

View this email in your browser

 

SUBSCRIBE TO MADDOXVILLE

In my last newsletter, I mentioned that I had felt a shift in the market. Homes are still selling quickly, but in the last couple of months we have not seen as many price escalations, or bidding wars that come from multiple offer situations. There is an element to this that is seasonal, but I do think we are seeing some subtle market shifts overall. Buyers are getting extremely savvy about what they are looking for, what they are willing to spend, and when they are willing to bid over the asking price. Decisions are happening quickly, with most listings receiving an offer in less than 10 days on the market. But the flexibility and negotiating room on those offers is much less than it was even 6 months ago. Buyers are grabbing the upper hand of the seasonal slowdown, and using it to their advantage. There is a small pocket of time between now and when we begin the spring upswing (that starts in February) where a Buyer could ultimately control the purchase. If you are thinking about buying, now may be the time! I am excited to see what spring of 2017 will bring to our market.

IN THE NEWS
Seattle home prices remain strong

The Seattle Times says home prices grew 10.3 percent in September to a new median of $630,000 in Seattle, and shows a similar growth trend for surrounding suburbs.

How much does it cost to live in Seattle?

The Seattle P-I calculated the minimum annual salary you’d need to buy a home in 35 neighborhoods. To afford a median priced home, you need to make at least $111,000 a year.

B.C. hits foreign buyers with transfer tax

The Seattle P-I reports on the 15% foreign buyers Real Estate transfer tax, enacted by B.C. lawmakers to curb runaway prices. In Vancouver the median price of detached homes hovers around $1.5 million. Will Seattle enact a similar tax?

Is it time to refinance?

Bankrate.com says so. Mortgage rates slid to their lowest level in almost 3 months. “The benchmark 30-year fixed-rate mortgage fell this week to 3.54% from 3.62%, according to Bankrate’s weekly survey of large lenders. That’s barely above the record low of 3.5%, set in December 2012.”

As the Official Real Estate Company of the Seattle Seahawks, we’re donating $100 per Seahawks home game tackle to YouthCare to help #tacklehomelessness. So far this year we are giving $8,200 to provide essentials for homeless youth.

PENDING

In this part of the newsletter I usually feature my listings and pending sales.  In the past couple of months I have been involved in some of the most complex transactions of my career. I have learned invaluable lessons, techniques, rules and skills this year. I am currently working on 10 pending sales and I thought it may be interesting to touch on some of the unique challenges I am navigating through. 

Epic Contingent Domino of Sales
I wrote an unlikely contingent offer on a farm property (which is in itself a new experience!) for a Buyer and it was accepted! We quickly put their house on the market, and in turn another of my Buyer’s wrote a contingent offer on that house. We listed the 2nd Buyer’s house and had it pending in less than 48 hours. If that isn’t dramatic enough, the inspections on these homes included 3 septic systems, a well, a propane tank, a swimming pool, and 2 barns.

Inspections protect both buyer and seller
In the past few weeks I have faced the following inspection hurdles: mold, leaky roof, broken sewer line, inoperable well pump, lack of permits, major foundation issues, plumbing leaks— and those are just the major ones. These items create additional stress for all parties, which in turn can create delicate situations to negotiate through. If I have learned one thing over the years it is this, “if it is broken there is always a fix.” At times it does feel impossible, and when it works out— a miracle! I have never had so many clients ask me, “Why do you do this job?”

For me, Real Estate negotiations create a puzzle and I enjoy working hard at finding a solution so that I can deliver keys to happy clients.

Subscribe to NEIGHBORHOOD NEWS

The best way to stay connected to what’s happening in the real estate market in your area, is to subscribe today to NEIGHBORHOOD NEWS.

 

Technology and creative marketing of properties is constantly changing and I recently commissioned a drone videographer for the first time, to film a unique property in the Kennydale neighborhood of Renton. It turned out awesome! This home has everything, 4 bedrooms, a pool house, shop, greenhouse, park-like grounds with an entertaining deck and hot tub, on a more than 1/2 acre lot. The FAA recently revised its guidelines on commercial drone photography use paving the way for more drone photographers to sell their services, and I’m so excited to add this to my marketing toolkit for sellers!

MADDOXVILLE APPROVED
 

Lindsay Dockery | 206-783-7399
ldockery@californiaclosets.com
www.californiaclosets.com

 

Last Spring, I redid my Master Bedroom closets at my house. Previously it was just a bar with a shelf over it. Our clothes were always spilling out and we never had enough hanging space. Lindsay worked with us to redesign our closets in a way that would work best and they were installed two weeks later. We love our new closets and I can’t recommend her enough!

Mention you are a reader of Maddoxville for 5% off your California Closets!!

FIND #heathershousefavs ON SOCIAL MEDIA

I am having a Halloween Costume Contest!  There are prizes for the winners in three different categories- Kids, pets & Adults.  Make sure you enter on my Facebook page by November 1st!  Share your photo with friends to get votes!

 

 

Enter Contest!!

@HeatherMaddox

Facebook

Instagram

heathermaddox@windermere.com

www.heathermaddoxhomes.com

 

Follow the latest visual updates of Blackberry House.



Heather Maddox, Broker
Windermere Real Estate/Renton, Inc.
heathermaddox@windermere.com
206-330-9185

SUBSCRIBE TO MADDOXVILLE

Copyright © 2016 Heather Maddox Homes, All rights reserved.
Our mailing address is:
Windermere Real Estate/Renton Inc.
3800 NE 4th St.
Renton, WA
Want to change how you receive this newsletter?
your preferences or unsubscribe from this list


 

 

This email was sent to *|EMAIL|*

why did I get this?    unsubscribe from this list    update subscription preferences

*|LIST:ADDRESSLINE|**|REWARDS|*

 


Posted on March 14, 2017 at 6:09 pm
Heather Maddox | Posted in Newsletter |

Maddoxville | August 2016

 


MADDOXVILLE: a real estate information newsletter
www.heathermaddoxhomes.com

View this email in your browser

 

SUBSCRIBE TO MADDOXVILLE

The market has taken an interesting, yet somewhat predictable, turn over the summer. Statistically, Seattle residential real estate has a “summer lull” as Seattlites focus their energy on the outdoors and take vacations in July & August. After the record-breaking first half of 2016, I wasn’t sure what this summer would bring. Right after the 4th of July, things really settled down and many listings did not get multiple offers or even the asking price. Is this natural dip a telling sign that this crazy market is not a bubble, but the new trend in the Puget Sound? Only time will tell. September usually has a strong upswing of buyers and sellers, and if my pipeline is any indication of the market as a whole — the rest of this year will stay true to the stats.

IN THE NEWS

Seattle battles housing discrimination with rental regulations 

Crosscut.com explains a series of regulations for landlords recently passed by the Seattle City Counsel that effects properties within city limits. The most controversial and groundbreaking, is the requirement of rentals being awarded on a first-come, first-serve basis. City Officials are unaware of any other U.S. city requiring landlords to pick the first qualified applicant. If you have a rental property in the city of Seattle, please make sure you are aware of the regulations to keep yourself within the requirements. 

Seattle home market hits new peak, prices have officially doubled

The Seattle Times recently reported that “single-family house values rose 10.7 percent in May compared to a year ago, about the same growth rate as the prior three months, according to the monthly S&P/Case-Shiller index. That’s more the double the national average growth rate of 5 percent.”

Will Seattle really become the next San Francisco?

The Seattle Times analyzied the data to find clues. For the past two decades through boom and bust cycles, as home have risen one dollar around Puget Sound, they raise two dollars in the Greater San Francisco Bay Area.

“Just 10 percent of families in the San Francisco metro area can afford to buy the median home, compared with 50 percent in the Greater Seattle area, according to the National Association of Home Builders and Wells Fargo,” the paper reports.

Windermere, Seahawks partner to #tacklehomelessness

It’s that time of year again— football season! I was so excited when the Seattle Seahawks and Windermere Real Estate announced recently an exclusive partnership that will make Windermere the Official Real Estate Company of the Seattle Seahawks!

At the center of this partnership is a new campaign entitled #tacklehomelessness in which Windermere will donate $100 for every Seahawks tackle at home during the 2016 season. The donations will be made via the Windermere Foundation which to date has raised more than $30 million for low-income and homeless families.

I believe in the mission of the Windermere Foundation, and I make a donation on your behalf following each and every completed transaction. The values of compassion, teamwork and determination unite Windermere and the Seahawks together. Go Hawks!

PENDING
 

This mid-century house near Seward Park, with views of Lake Washington, went pending in just 7 days. I was able to negotiate a rent-back for my clients and they will have some extra time to move into their new house in Kirkland.

 

Three-year-old stunning Newcastle home has everything! The double door entry leads to great room with vaulted ceilings and a huge open concept kitchen & living space that’s perfect for entertaining. 

RECENTLY SOLD
 

I met a client at an open house in Issaquah recently, and nearly 24 hours later he was pending on a townhouse. He had been outbid prior to meeting me, and with my help we were able to secure a home in a tight market. 

 

Helped my clients with an off-market purchase in downtown Renton of a cute bungalow. Being aware of who you know that may be selling could help you bypass this crazy, competitive market.

MADDOXVILLE APPROVED
 

Office | 425-882-7882
Toll Free | 1-888-884-9772
info@movinglink.com
www.movinglink.com

 

I often have clients ask me for mover recommendations. Moving Link is one step better! They come into your home, discuss what your needs are, then they get the bids from all the moving companies for you and you choose which one. They are paid by the moving companies, so it’s a free service for you!

Subscribe to NEIGHBORHOOD NEWS

The best way to stay connected to what’s happening in the real estate market in your area, is to subscribe today to NEIGHBORHOOD NEWS.

FIND #heathershousefavs ON SOCIAL MEDIA

In June, I rented a theater for a private screening of Finding Dory and we had over a dozen kiddos seeing their very FIRST show in a theater! It was a packed house. A huge THANK YOU to all my clients who make these appreciation events so much fun to host. 

@HeatherMaddox

Facebook

Instagram

heathermaddox@windermere.com

www.heathermaddoxhomes.com

After months of frustrating delays, we finally received a permit from the City of Renton for ‪the #blackberryhouse‬! Before demolition began, we celebrated in style with custom cookies, sledgehammers and plenty of spray paint. 

I’ll continue documenting progress in this space, but between newsletters the #blackberryhouse now has its own Instagram page!



 

Blackberry House Demo (8.8.2016)

Check out our video recap of the demolition, and follow along at my new INSTAGRAM page for current #blackberryhouse updates. 



Heather Maddox, Broker
Windermere Real Estate/Renton, Inc.
heathermaddox@windermere.com
206-330-9185

SUBSCRIBE TO MADDOXVILLE

Copyright © 2016 Heather Maddox Homes, All rights reserved.
Our mailing address is:
Windermere Real Estate/Renton Inc.
3800 NE 4th St.
Renton, WA
Want to change how you receive this newsletter?
your preferences or unsubscribe from this list


 

 


Posted on March 14, 2017 at 6:06 pm
Heather Maddox | Posted in Newsletter |

Maddoxville | June 2016

<!doctype html>


*|MC:SUBJECT|*

 

 


MADDOXVILLE: a real estate information newsletter
www.heathermaddoxhomes.com

View this email in your browser

 

SUBSCRIBE TO MADDOXVILLE

Long-time clients, Erika and Tye Chapman purchased a vacant lot in Paradise Estates in Ashford, Wash. nearly three years ago, and recently completed building a 460 sq. ft. cabin on the property. My real estate license is good anywhere in Washington, so it is always fun when clients come to me with property search outside of my typical area.

We sat down with the Chapmans to learn about their experience building the cabin, a project they did mostly themselves, with the help of a few tradespeople.

I was also fortunate enough to get to stay in the cabin with my family in May, and I am already planning my next trip back! The best real estate-style description I have for the experience is, “luxurious living in the woods.”

Click on the photo below for their Before & After story.



IN THE NEWS
 

Seattle goes up in national rankings for million dollar homes
The Seattle Times recently reported that the region jumped from No. 20 to No. 14 in the country in a ranking of areas with the most homes valued at $1 million or more. “Overall, 1 of every 14 homes across the region will run you $1 million or more now, up from 1 out of every 40 houses in 2012.”

Seattle-area home prices soar
The Puget Sound Business Journal recently reported that in “King County, the median price of single-family houses that sold in May was $560,000, an increase of nearly 16.5 percent over a year ago, and in Snohomish County the median price jumped 11.4 percent to $389,950.” Lack of supply continues to push prices upward, as there are currently more buyers than sellers in the market.

PENDING
 

This lovely 3 bed, 2 bath townhouse in the Issaquah Highlands had over 100 people tour it in the first 5 days and received 4 very strong offers. We are pending, all contingencies waived, and I negotiated a free two week rent back for the Seller.

COMING SOON
 

Stayed tuned next week to HeatherMaddoxHomes.com to find out more about this adorable craftsman in a great, in-city location!

PENDING
 

This 7-year-old home in Renton received 3 offers and was pending within 5 days. Unfortunately, the first buyer backed out a week later, but without even putting it back on the market I had two interested buyers and it was under contract again within 6 hours. Now THAT is a hot market!

RECENTLY SOLD
 

This light and bright top unit condo feels like you are living in a treehouse! This listing went pending in 24 hours and sold for over the asking price, and closed with all cash in less than two weeks.

MADDOXVILLE APPROVED

Sun H. Ku
425-343-6376
sunpainting@yahoo.com

Sun Pro Painting Company is based out of Mill Creek and locally-owned by Sun Ku. His company does both interior and exterior painting for residential or commercial projects. 

Subscribe to NEIGHBORHOOD NEWS

The best way to stay connected to what’s happening in the real estate market in your area, is to subscribe today to NEIGHBORHOOD NEWS.

 

Windermere Gardner Report

When the Federal Reserve announces a change in interest rates, it makes headlines. But does the federal interest rate directly impact your mortgage rate? See what Windermere’s Chief Economist, Matthew Gardner has to say at the video link below.

 

How a Federal Interest Rate Hike Impacts Mortgage Rates

https://youtu.be/pivJF1PWhB0

Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics.

We were set to break ground this month, but revisions from the city to the storm water plan have delayed our start by at least two weeks.

Delays are unfortunately part of the building process so I better get used to the constant starts and stops, as this is probably the first of many.

FIND #heathershousefavs ON SOCIAL MEDIA

Make sure you follow me on social media, you never know when I might have tickets to cool events up for grabs. We recently attended a Windermere event with UW football coach Chris Petersen.



@HeatherMaddox

Facebook

Instagram

heathermaddox@windermere.com

heathermaddoxhomes.com



Heather Maddox, Broker
Windermere Real Estate/Renton, Inc.
heathermaddox@windermere.com
206-330-9185

SUBSCRIBE TO MADDOXVILLE

Copyright © 2016 Heather Maddox Homes, All rights reserved.
Our mailing address is:
Windermere Real Estate/Renton Inc.
3800 NE 4th St.
Renton, WA
Want to change how you receive this newsletter?
your preferences or unsubscribe from this list


 

 


Posted on March 14, 2017 at 6:04 pm
Heather Maddox | Posted in Newsletter |

Maddoxville | April 2016









*|MC:SUBJECT|*




MADDOXVILLE: a real estate information newsletter
www.heathermaddoxhomes.com

View this email in your browser

SUBSCRIBE TO MADDOXVILLE

In the current market, selling your house will likely be easier than buying a new one. Because of this, I often talk with clients that want to sell their current home, but are worried that it will take months to find their next home, and they will be homeless in the interim. As a seller, you are in a strong position to negotiate provisions that can alleviate some of that stress, and often solve the problem of the interim period. I have found that if the listing states exactly what you need, in most instances you will get it. Here are my top five strategies for Moving Up in this market:

1

Free Rent Back: You can ask the Buyer to allow you to stay in your home past the closing date. Due to the competitive nature of the market, most Buyers are offering this at no cost to the Seller. In the last couple months I have had Sellers receive free rent backs on almost every single sale, and for as much as 2 months. So you could get an offer on May 1st, close on June 1st, and then stay in the home for free until August 1st. That gives you 90 days to find your next home!

2

Longer closing dates: You can also build in some extra time in the closing date. Buyers are trying to make them short to entice the Seller, but most Buyers would be just as happy with a 60 day closing as they would a standard 30 day, giving you an extra month to close on your next home.

3

Take a gamble: In the current market, it is highly likely your home will sell in the first 2 weeks. You could start house hunting prior to listing your home, and once you are in contract, scramble to put your current house on the market knowing it will sell quickly. This is not ideal, but it may be a better situation for those who are not willing to take on the risk of having a time period without somewhere to go.

4

VRBO: I have also had clients that move all of their belongings into a POD and then rent a condo or home through VRBO for a month or so while they house hunt and close on their new home. Built-in vacation!

5

Plan B: Having a back-up plan is necessary. We hope that we do not have to utilize it, but you don’t want to be figuring out your Plan B at the last minute. Staying with a relative, renting for a year, and a combo of the above options are all good back-up plans. Make sure if your Plan B is to stay with a relative that they are aware of this prior to you showing up on their doorstep with all your belongings. Usually if you have a well thought-out Plan B, fate has it that you wont have to use it.

A MOVE UP Success Story

Clients of mine purchased their Seattle home in 2010, and although it was not the market of today, we still had to make a full price offer on the day it hit the market. Six years later they were able to sell their home for almost 70% more than what they paid for it. We received 3 offers in the first 5 days & negotiated a free rent back for them. As soon as we were under contract we ran around the city looking at listings. Within a week we found two they were interested in moving forward on. We inspected both of them, including a sewer scope, and found one to have issues. We made an offer on the other one, got it for under the listed price (HUGE win in this market), and they are closing both their purchase and their sale on the same day. Their new home is over double the square footage of their former, and has everything they were looking for. Whew!

RECENTLY SOLD


I secured this adorable rambler for my clients just hours after it was listed for sale in SeaTac. My clients trusted me in my unorthodox tactic & it worked! In this market, in order to stand out you may need to get creative and make bold moves with your offer.

PENDING SALE


Charming craftsman near Westwood Village in West Seattle received multiple offers that pushed the price well over the asking price. In a HOT housing market, a common tactic to make an offer aggressive is to include a price escalator addendum with your offer.

MADDOXVILLE APPROVED

Knock, knock. Who’s there?


Home Security Tip – We just installed this awesome doorbell at our house (thanks to a tip from a client/friend). I would HIGHLY recommend it. You can answer it and speak to the person on your porch from anywhere (work, vacation, etc.). It records a video when there is motion and sends you a text to your phone. It was so easy to install, only took about 15 minutes. I know this sounds like a commercial, but it’s just because I think it is so cool! You can get them from Best Buy, Amazon, etc.

www.ring.com

Subscribe to NEIGHBORHOOD NEWS

The best way to stay connected to what’s happening in the real estate market in your area, is to subscribe today to NEIGHBORHOOD NEWS.

building a home from the ground up is the ultimate adventure

Last month, I mentioned that Shawn and I are in the process of building a home. We affectionately are calling it the BLACKBERRY HOUSE, named after the brambles that were growing inside the current structure the first time we walked in. We purchased it at an auction 2 1/2 year ago, without being able to go inside first. (Ask me to tell you about the refrigerator next time I see you….)

I have had lots of questions from clients regarding the process of building a house. So I’ll provide brief updates each month on the progress so that readers can get an idea of the steps, as well as the ups & downs.

In June, we will demolish that home and break ground on the new house that will be completed next March. Before we could get permits to tear down, we had to verify that there was no asbestos in the current house. Shawn suited up and excavated several areas for the required samples (walls, ceilings, flooring, etc.). He diligently packed and labeled each of the samples and carefully placed them into a plastic toolbox for safe transport.

My assistant delivered the samples to a lab in Auburn and the woman at the testing office took the Ziplock bags out of the toolbox and casually tossed the samples on the desk. So much for trying to prevent cross-contamination! Good news, the samples were all clear! On to permitting!



Windermere Gardner Report
 

Washington State has seen very robust growth over the past 12 months with the addition of 102,600 new jobs, which is 224,000 more jobs than seen at the previous peak in 2008. With this robust growth, it is unsurprising to see the unemployment rate trend down to 5.8%—well below the long-term average of 6.4%. As pleasing as it is to see the unemployment rate drop, it is equally pleasing to see that the decrease comes in concert with growth in the civilian labor force, which continues to grow at a very solid pace. I continue to believe that there is no risk that we will see a statewide decline in the employment picture in 2016.

View the full report: here

Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics.

FIND #heathershousefavs ON SOCIAL MEDIA



@HeatherMaddox

Facebook

Instagram

heathermaddox@windermere.com

heathermaddoxhomes.com



Heather Maddox, Broker
Windermere Real Estate/Renton, Inc.
heathermaddox@windermere.com
206-330-9185

SUBSCRIBE TO MADDOXVILLE

Copyright © 2016 Heather Maddox Homes, All rights reserved.
Our mailing address is:
Windermere Real Estate/Renton Inc.
3800 NE 4th St.
Renton, WA
Want to change how you receive this newsletter?
your preferences or unsubscribe from this list



This email was sent to *|EMAIL|*

why did I get this?    unsubscribe from this list    update subscription preferences

*|LIST:ADDRESSLINE|*

*|REWARDS|*



Posted on April 28, 2016 at 6:03 pm
Heather Maddox | Posted in Newsletter |

Maddoxville | March 2016









*|MC:SUBJECT|*




MADDOXVILLE: a real estate information newsletter
www.heathermaddoxhomes.com

View this email in your browser

This past month my husband, Shawn, and I were sellers for the first time since I became a Realtor. We sold the home we lived in as newlyweds, and where we brought home Hadley from the hospital. It’s the last home I’ll have memories of my dad in. We sold the home to our tenants, so I know that they will love the home just as much as we did.

Sometimes when I take a step back and reflect on my job, I’m struck by the diversity of experiences of my clients as they buy and sell their homes. Today I’m writing an offer for first-time buyers who are at the start of their real estate story. Another client sold the home last month that they have lived in for 33 years, raising three children, and are looking forward to their next chapter in a new state. Sometimes preparing a home for sale is something that takes months and I help coordinate staging, landscaping, and repairs, and other times it’s ready to put on the market immediately. I have sellers who after they sell their condo will be moving back to the home they lived in for the first 18 years of their marriage, after living in their condo for 18 years. This home has been in their family for more than 100 years and the last time they lived there together without children, they were just 20 years old.

Shawn and I are about to embark on a new adventure as homeowners. We are about to break ground on our forever home, and have been working with the builder for the past year. This will be the home that our kids and grandkids will come home to, as we experience our lives moment by moment. It could very well be the home that is passed down in our family for the next 100 years, well beyond the time Shawn, our girls, and I live there.

I wanted to create the Maddoxville newsletter as a place to share small stories about my life and the life of my clients, the best part of the my job is being part of your milestones as your Realtor.


The regional real estate market is continuing to make headlines, as the median home price in King County climbed to $514,975 in February. The Seattle Times ran a story recently on what is driving prices, and what to expect for the typically busy spring home-buying season. In order to position yourself to be ready to buy when the time is right for you, make sure you are pre-approved with a lender and be familiar with the in and outs of credit through the infographic below.

Fun facts about credit

RECOMMENDED VENDORS

YOU READY FOR SPRING CLEANING SEASON?

Spring is a great time to spiff up your home, especially if you are thinking of listing it! Housecleaning Extraordinare is a locally-owned cleaning company founded in 2003.

Housecleaning Extraordinare
206-387-3108 | Maricela Moreno
www.housecleaninggals.com

PENDING SALE


Great starter home or rental in the well-established Cascade neighborhood of Renton went pending in just two days. The spring market is hot in all areas of King County and beyond!

NEW LISTING


Light, bright, and move-in ready! This top-floor 3BR/2BA unit lives like a house. Open-concept living space overlooks Fairwood Golf Course & Country Club and features territorial views.

Subscribe to NEIGHBORHOOD NEWS
The best way to stay connected to what’s happening in the real estate market in your area, is to subscribe today to NEIGHBORHOOD NEWS.

FIND #heathershousefavs ON SOCIAL MEDIA



@HeatherMaddox

Facebook

Instagram

heathermaddox@windermere.com

heathermaddoxhomes.com



Heather Maddox, Broker
Windermere Real Estate/Renton, Inc.
heathermaddox@windermere.com
206-330-9185

Copyright © 2016 Heather Maddox Homes, All rights reserved.
Our mailing address is:
Windermere Real Estate/Renton Inc.
3800 NE 4th St.
Renton, WA
Want to change how you receive this newsletter?
your preferences or unsubscribe from this list





Posted on March 23, 2016 at 4:27 pm
Heather Maddox | Posted in Newsletter |

Maddoxville | Feb. 2016









*|MC:SUBJECT|*




MADDOXVILLE: a real estate information newsletter
www.heathermaddoxhomes.com

View this email in your browser

In 2015, I was referred Joel & Lindsey Palmer, recent WSU graduates who at the time were engaged to be married. Despite being younger than your average homeowner, they were extremely smart about their purchase. They had saved for a downpayment and did not try to stretch their dollar beyond their means. If anything, they were looking for something that they could put some sweat equity into. They had great vision when house-hunting, looking at the floorplan & bones of homes rather than the cosmetics.

They won a multiple offer situation on a home in Covington and completed an impressive list of improvements before moving in. The couple put Do-It-Yourself (DIY) home improvement shows to shame, and their house looks amazing! Their work inspires me and if the home looked like it does now when it was on the market, it would have received at least three offers and gone for $30,000 more than they paid. Click here or on the photo below for their Before & After story.

What ‘Slow Season?!?’

Statistically speaking, November to January can be a bit sleepy in the real estate world. This winter was the opposite of sleepy. I was arguing a successful offer on behalf of a Buyer the week of Christmas that was up against a handful of other offers. What does this mean for the PNW housing market?

Spring is going to be unprecedented.

Windermere Real Estate chief economist Matthew Gardner said recently, “With a vast majority of our metropolitan areas having fully recovered from the job losses seen during the recession, I expect to see somewhat more modest job growth in the coming year. That being said, our economy will continue to expand, which will be a benefit to our region’s housing market.”

This speedometer reflects the state of the region’s housing market using housing inventory, price gains, sale velocities, interest rates, and larger economic factors.

The market is heavily in favor of Sellers, but some markets are reaching price points that will test affordability. Because of the constricted inventory of homes available for sale, which is not expected to keep up with demand, this will add further upward pressure on prices.

Annual Change in Home Sale Prices

  • Prices in the region rose by an average of 9.3% on a year-over-year basis, but were 0.4% lower than seen in the third quarter of 2015.

  • Unsurprisingly, no counties saw a drop in average home prices compared to fourth quarter last year.

  • When compared to the fourth quarter of 2014, San Juan County again saw the fastest price growth with an increase of 37.6%. However, this county is notorious for extreme swings giving the huge variations in prices in the San Juan Islands. Double-digit percentage gains were also seen in five other counties.

  • As long as inventory contraints persist, it is likely that price growth will continue. That said, modest increases in interest rates, in combination with declining affordablity conditions in several markets, will likely slow price appreciation.

    Source: Windermere Real Estate Chief Economist, Matthew Gardner

First-time buyer down payment statistics

How does your savings strategy stack up against other first-time buyers?

  • The typical first-time buyer had a down payment of 6%.

  • 47% of first-time buyers saved for their down payment in a year or less.

  • Among first-time buyers, 81% used their savings, 26% used gifts, and 10% borrowed money from friends or relatives for their down payments.

Source: NAR 2014 Profile of Buyers and Sellers

VENDOR OF THE MONTH | Ballard Lock & Key

It is extremely important that you change your locks after taking posession of your new home. You never know who might have copies of keys, garage door openers, etc., and changing the locks adds an extra layer of protection.

Do-It-Yourself, or consult a pro. Ballard Lock & Key is just one of many reputable locksmiths in the area. Please, please, please change your locks!

Ballard Lock & Key
206-783-6360
www.ballardlockandkey.com

PENDING SALE


This one bedroom, one bath condo in Greenwood went pending in a week. Demand for affordable condos in Seattle continues to be strong.

RECENTLY SOLD


Vacant land with view of Lake Sammamish got 5 cash offers in 24 hours, and sold in just two days for more than the asking price. Interesting fact— the winning offer owns the adjacent house and wanted to preserve their view.

NEW LISTINGS


Beautiful 5 bedroom, 3.5 bath home with territorial views at the end of a private lane in Bridlewood in Bothell. Offers will be accepted this week.

NEW LISTING


This immaculate 5 bedroom, 2.5 bath Redmond home that backs to Farrell-McWhirter Farm Park is on a shy-acre beautifully landscaped lot. Offers will be accepted this week.

Subscribe to NEIGHBORHOOD NEWS
The best way to stay connected to what’s happening in the real estate market in your area, is to subscribe today to NEIGHBORHOOD NEWS.

FIND #heathershousefavs ON SOCIAL MEDIA



@HeatherMaddox

Facebook

Instagram

heathermaddox@windermere.com

heathermaddoxhomes.com



Heather Maddox, Broker
Windermere Real Estate/Renton, Inc.
heathermaddox@windermere.com
206-330-9185

Copyright © 2016 Heather Maddox Homes, All rights reserved.
Our mailing address is:
Windermere Real Estate/Renton Inc.
3800 NE 4th St.
Renton, WA
Want to change how you receive this newsletter?
your preferences or unsubscribe from this list



This email was sent to *|EMAIL|*

why did I get this? unsubscribe from this list update subscription preferences

*|LIST:ADDRESSLINE|*

*|REWARDS|*



Posted on February 23, 2016 at 5:21 pm
Heather Maddox | Posted in Newsletter |

Maddoxville | Jan. 2016










Maddoxville Newsletter | Heather Maddox Homes





MADDOXVILLE: a real estate information newsletter
www.heathermaddoxhomes.com

View this email in your browser

Happy New Year, and cheers to a bright 2016!

 

Last year was a very rewarding year in real estate, but it was also extremely challenging. This market is brutal for Buyers—often submitting offers on multiple homes, competing, spending $1000s on pre-inspections and often paying (as much as 25%!) over the asking price―and it is an emotional roller coaster on the way to finding a home. This type of market is hard for me as a Buyer's agent. I take pride in helping my clients find THE HOUSE, not just a house. This can take months in a balanced market, and the current market is anything but balanced. Inventory is lower than ever, and competition is higher than ever. It often feels like an impossible task to prevent a Buyer from settling. However, I'm also proud to say I was the winner of 17 multiple offer situations on behalf of my buyers last year.
 
On the flip side of that, I had many happy Sellers. The chart below is a data visualization of my listings in 2015. Not one of them sold for under the list price, and on average they went for 8% OVER the asking price.

DIY transformation sets resale record

My record sale this year was a home in Meadowbrook, a neighborhood in the Lake City area of Northeast Seattle. John and Kelly Poort bought a mid-century rambler in 2010, it was all original inside and had a pool in the backyard. Over the next five years, the couple had three daughters, removed the pool and completely updated the house. (A true DIY project, thanks to a handy John, and his three handy brothers.)