Categoriesfinancing, info for buyers, info for home owners, Seattle, Seattle neigborhoods, Washington real estate

Three Reasons Why This Is Not a Housing Crisis

In times of uncertainty, one of the best things we can do to ease our fears is to educate ourselves with research, facts, and data. Digging into past experiences by reviewing historical trends and understanding the peaks and valleys of what’s come before us is one of the many ways we can confidently evaluate any situation. With concerns of a global recession on everyone’s minds today, it’s important to take an objective look at what has transpired over the years and how the housing market has successfully weathered these storms.

1. The Market Today Is Vastly Different from 2008
We all remember 2008. This is not 2008. Today’s market conditions are far from the time when housing was a key factor that triggered a recession. From easy-to-access mortgages to skyrocketing home price appreciation, a surplus of inventory, excessive equity-tapping, and more – we’re not where we were 12 years ago. None of those factors are in play today. Rest assured, housing is not a catalyst that could spiral us back to that time or place.

According to Danielle Hale, Chief Economist at Realtor.com, if there is a recession:

“It will be different than the Great Recession. Things unraveled pretty quickly, and then the recovery was pretty slow. I would expect this to be milder. There’s no dysfunction in the banking system, we don’t have many households who are overleveraged with their mortgage payments and are potentially in trouble.”

In addition, the Goldman Sachs GDP Forecast released this week indicates that although there is no growth anticipated immediately, gains are forecasted heading into the second half of this year and getting even stronger in early 2021.Three Reasons Why This Is Not a Housing Crisis | MyKCMBoth of these expert sources indicate this is a momentary event in time, not a collapse of the financial industry. It is a drop that will rebound quickly, a stark difference to the crash of 2008 that failed to get back to a sense of normal for almost four years. Although it poses plenty of near-term financial challenges, a potential recession this year is not a repeat of the long-term housing market crash we remember all too well.

2. A Recession Does Not Equal a Housing Crisis
Next, take a look at the past five recessions in U.S. history. Home values actually appreciated in three of them. It is true that they sank by almost 20% during the last recession, but as we’ve identified above, 2008 presented different circumstances. In the four previous recessions, home values depreciated only once (by less than 2%). In the other three, residential real estate values increased by 3.5%, 6.1%, and 6.6% (see below):Three Reasons Why This Is Not a Housing Crisis | MyKCM

3. We Can Be Confident About What We Know
Concerns about the global impact COVID-19 will have on the economy are real. And they’re scary, as the health and wellness of our friends, families, and loved ones are high on everyone’s emotional radar.

According to Bloomberg,

“Several economists made clear that the extent of the economic wreckage will depend on factors such as how long the virus lasts, whether governments will loosen fiscal policy enough and can markets avoid freezing up.”

That said, we can be confident that, while we don’t know the exact impact the virus will have on the housing market, we do know that housing isn’t the driver.

The reasons we move – marriage, children, job changes, retirement, etc. – are steadfast parts of life. As noted in a recent piece in the New York Times, “Everyone needs someplace to live.” That won’t change.

Bottom Line
Concerns about a recession are real, but housing isn’t the driver. If you have questions about what it means for your family’s homebuying or selling plans, let’s connect to discuss your needs.

Categoriesemergency preparedness, info for buyers, info for home owners, Seattle, Seattle neigborhoods, Washington real estate

Productivity Tips for Working From Home

Whether you’ve been working remotely for years or are new to a work-from-home scenario, there are important strategies for doing it successfully.

Many have the misconception that working from home is easy and will automatically lead to increased productivity. In reality, the opposite is usually true. There are often more distractions at home, and not having the office resources you rely on readily available can hamper your ability to do your job.

If you want to improve your chances of being productive while working from home, do the following:

Create designated space. Don’t try to do your job from the sofa, or worse, your bed. If you don’t already have a designated office space in your home, create one. Set up a table and comfortable chair in a room—or corner of a room—where you’re likely to have the most privacy. Use a decorative screen to help section off your workspace if need be. Take over a guest room, if you have one, or claim the dining room as your new office, relegating meals to the kitchen instead. The idea is to have a space that’s as private as possible, where you can leave your work materials out at the end of the day.

Get up on time. Working from home doesn’t mean it’s time to sleep in. Be sure to maintain the morning schedule you had when going into the office, and if you now have more time due to not having to commute, use it for exercise or to have breakfast with the family. Giving in to sleeping longer may reduce your energy level and make it harder to focus.

Establish a communication system. Working from home can often leave you feeling cut-off from your coworkers and managers, which can quickly stymie productivity. Make sure you have a system for effectively connecting, using both chat programs and video conferencing to stay in regular contact. Don’t just rely on email, which can lack details and intent. The idea is to avoid isolating yourself, even though you’re not physically present at the office.

Work during work hours. When working from home, it can be tempting to try and sneak in some domestic tasks or social engagements. Try to avoid this during designated work hours, as the distraction factor will quickly mount, and you’ll find it hard to keep switching between work and home life. Take a lunch hour and a couple of breaks for your personal tasks, then focus on work during the times you would while at the office.

Honor quitting time. One of the dangers of working from home is that your work is always right there with you. Be as productive as possible during work hours, then end your day as you normally would when at the office. Shut your computer down, organize your papers, turn off the light in your home office space and call it a day. Taking the necessary time to detach from work every day will ultimately make you more productive.

Photo by Bench Accounting on Unsplash

Categoriescommunity service, info for buyers, info for home owners, Seattle, Seattle neigborhoods

Best apps to use in Seattle, WA

Known for being the largest city in the Pacific Northwest with a land area of 83.7 square miles, Seattle can be overwhelming. Thankfully, there are a number of apps that can make life easier if you’re in Seattle. Whether it’s finding your way around the city or deciding on what restaurant to dine in, these mobile apps will be your guide:

1. OneBusAway

Get real-time transit information for Seattle, Tacoma, and the Puget Sound with OneBusAway. This helpful app provides you with the schedule of selected public transit vehicles in those areas, along with its routes and stops.

2. Parkopedia

Find the perfect parking spot with Parkopedia, a comprehensive app that tells you where to park in Seattle. Users can simply enter their current location or an address and the app will provide the parking space availability in real time.

3. Pay by Phone

Pay by Phone allows you to pay for your parking in seconds. All you need to do is download the app (it’s available on both Android and iOS), enter the location code of the area you want to park in, and indicate how long you’ll be parking for. You can even extend your parking hours anytime.

4. Seattle Times Mobile

The Seattle Times is the largest and longest-running newspaper in Washington state. The award-winning newspaper’s mobile app keeps you up-to-date with the latest local, national, and international news. Users can only access 15 articles per month for free or pay $9.99 per month to continue reading.

5. KING 5

For the latest local news, weather, traffic, and sports, check out the KING 5 app. Known for being a major news source in the Pacific Northwest, it has everything from breaking news to live-streaming newscasts.

6. Yelp

There’s only one way to find the best restaurants in Seattle: Yelp. Using the GPS on your phone, you’ll be directed to the city’s top restaurants and cafes. You can also filter your search by location, price, cuisine, and reviews.

7. Cocktail Compass

If you’re looking for the best bars or the nearest place to grab a drink, let Cocktail Compass tell you where. The free mobile app lets you search for bars in your area and provides you with the necessary photos, reviews, and directions to that particular watering hole.

Cocktail Compass also has a Happy Hour Countdown that shows you the nearest bars with a happy hour and how fast you need to get there before perks and freebies end.

8. Seahawks

Stay up-to-date with the latest Seattle Seahawks news, photos, and videos. The Seahawks app includes live updates, real-time stats and standings, and a schedule of the team’s upcoming games. You can even view, transfer or sell your Seahawks tickets through the app’s mobile ticketing feature.

The Seahawks mobile app is available for iPhone, Android, and iPad.

There’s no doubt that Seattle is one of the best cities to live in. Learn more about life in Seattle and its real estate offerings by getting in touch with Metropolist, email at [email protected]

Categorieseconomy, financing, home values, info for buyers, info for home owners, Seattle, Washington real estate

How Your Tax Refund Can Move You Toward Homeownership This Year

According to programs from the Federal Housing Authority, Freddie Mac, and Fannie Mae, many first-time buyers can purchase a home with as little as 3% down. Truth be told, a 20% down payment is not always required to buy a home, even though that’s a common misconception about homebuying. Veterans Affairs Loans allow many veterans to purchase a home with 0% down.

How can my tax refund help?
If you’re a first-time buyer, your tax refund may cover more of a down payment than you ever thought possible.

If you take into account the median home sale price by state, the map below shows the percentage of a 3% down payment that’s covered by the average tax refund:How Your Tax Refund Can Move You Toward Homeownership This Year | MyKCMThe darker the blue, the closer your tax refund gets you to homeownership in one of these programs. Maybe this is the year to plan ahead and put your tax refund toward a down payment on a home.

Bottom Line
Saving for a down payment can seem like a daunting task, but the more you know about what’s required, the more prepared you’ll be to make the best decision for you and your family. This tax season, your refund could be your key to homeownership.

Photo by Kelly Sikkema on Unsplash

Categoriesfeatured listings, Uncategorized

Cash Flow in Bremerton

Fantastic cashflow rental with lease of $2300/month + utilities. Built in 1925, this traditional gem is remodeled to include a beautiful master suite. Maple cabinets, formal dining room, spacious living room and 2 bedrooms complete the main level. Step downstairs to an expansive basement workshop with a 4th finished room. Envision another bedroom, office or personal studio. Beautiful level lot just awaits your green thumb and summer entertainment plans.

Previous Post: Built in 1925, this traditional gem is remodeled to include a beautiful master suite. Maple cabinets, formal dining room, spacious living room and 2 bedrooms complete the main level. Step downstairs to an expansive basement workshop with a 4th finished room. Envision another bedroom, office or personal studio. Beautiful level lot just awaits your green thumb and summer entertainment plans. Click here for more info!

Categoriesfinancing, home values, info for buyers, info for home owners, Seattle, Washington real estate

Entry-Level Homeowners Are in the Driver’s Seat

One thing helping homeowners right now is price appreciation, especially in the entry-level market. In the latest Home Price Insights report, CoreLogic reveals how home prices increased by 4% year-over-year and projects prices will rise 5.2% by December 2020.

Why is this good news for the homeowners?
When prices appreciate, homeowners gain equity. In addition, those planning to sell this year, especially in the entry-level market, can potentially earn a substantial profit.

Dr. Frank Nothaft, Chief Economist at CoreLogic, says:

“Moderately priced homes are in high demand and short supply, pushing up values…Homes that sold for 25% or more below the local median price experienced a 5.9% price gain in 2019, compared with a 3.7% gain for homes that sold for 25% or more above the median.”

As Dr. Nothaft indicates, the lack of inventory continues to drive home price growth. This means there’s a high demand for homes in this tier of the market, making it a great time to consider using your equity to move up to a bigger or more premium home.

When you upgrade your home, you may be able to find the amenities or features you’ve dreamed of – such as a yard to plant or garden in with your family this spring, or more outdoor space for entertaining this summer. Maybe it’s the master bath you’ve always hoped for, or a garage to finally park your car inside.

Whatever you choose, if you’re moving out of an entry-level house, you’re likely going to be in the driver’s seat as a seller.