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Stephanie Dawson

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My Last Blog of 2008

Wednesday, December 31, 2008
by Stephanie Dawson
As I sit at my desk on the last day of this year thinking back on 2008, I amazed by what a wild ride it was. It is very different than how I pictured it would go, but overall it was not as bad as I had thought it could be, in regards to real estate.
 
We saw so many changes here in Washington State – from our Sonics leaving and our Seattle teams underperforming; the stock market roller coaster, economic recession, bailouts, housing market dip, economic stimulus packages and great loan rates; to the increase in food prices, ups and downs of fuel prices, and the Boeing strikes and job losses; to the Olympics in Beijing, and the grueling election and final selection of a new President to manage our country. Was 2008 the year you thought it would be, or were you surprised by what we had?
 
2008 proved to be a difficult year for many sellers struggling to sell their home for maximum dollar and move on to the next chapter of their lives. Throughout 2008, both King and Pierce Counties had more homes on the market than they did in 2007. Perhaps more sellers wanted to take advantage of buying in this buyer’s market, so they put their homes up for sale. Other sellers had plans of selling their home to retire and relocate; some needed to relocate for their jobs; and others needed to sell their investment properties. While not every seller experienced success in selling this year, NWMLS statistics show that as of December 1st, 2008, there were 56,864 property sales in the Puget Sound over the first eleven months of the year. This shows that people did buy homes in 2008, despite what the media tells us.  NWMLS data shows that as of December 1st, 2008, there are currently 69,905 properties still for sale in the Puget Sound area.
 
This year was an excellent one for home buyers – especially first-time home buyers. I had more buyer sales than seller sales in 2008 and I have a feeling that this trend will continue through 2009 as home prices dip lower into the first-time home buyer price range. On average, my home buyer clients paid 96.43% of the seller’s asking price, at the time we wrote the offer. It was a very good time to be a buyer, and it still is today!
 
I remained optimistic throughout 2008, and I think that is what attracted my clients and me to one another. While 2008 did not prove to be my very best year in business, it was still a good one and I credit that to the many wonderful clients I had the opportunity to work with. I am very thankful to have met some really incredible buyers and sellers this year, and I am honored that they selected me as their real estate advisor for their real estate needs. When I look back at this past year it is the people I remember, and it is these wonderful clients that make up my happy memories of 2008.
 
Although things won’t change overnight, I am filled with hope that 2009 will be a good year. It will be another year of adjustments as we re-price listings to the current market price, and I’m sure that buyers and home owners alike will benefit from the low loan rates and the new loan programs that will be unveiled in 2009.
 
My wish for you and your family is for 2009 to be a fantastic year of new beginnings, filled with happiness, love, excellent health, blessings, and fun experiences. Happy New Year, everyone!!
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King & Pierce County, WA Real Estate Market Update for December 2008

Tuesday, December 09, 2008
by Stephanie Dawson
King & Pierce County Update for December 2008
When comparing November 2008 to November 2007, the average price of a home* in King County depreciated 8.21 percent, according to the NWMLS statistics.  Compared with November of last year, the average price decreased from $476,207 to $440,062 and the median price dropped from $385,990 to $365,000 for a decrease of 5.75 percent over November 2007.   The average asking price for a resale home or condo in King County is $664,008 - not including brand new homes.
 
The average time that homes were on the market before accepting an offer was 86 days.  At the end of November 2007, there were 13,188 active homes for sale in King County.  By comparison, at the end of November 2008, there were 13,578 active homes for sale in the MLS in King County, representing a 9.4 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.  
 
If you are thinking about buying, this is an excellent time to get a great deal on a home! Interest rates are very low, and home buyers can now purchase homes that would have cost an additional hundred thousand dollars or more a year or two ago.
 

  
   
    
  
   
   
    
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
 

 

 

Pierce County
When comparing November 2008 to November 2007, the average price of a home* in Pierce County depreciated 14.61 percent, according to the NWMLS statistics.  More specifically, the average price fell from $296,996 to $259,145 and the median price fell from $262,950 to $230,000 for a decrease of 14.33 percent over November 2007.  In Pierce County, the average asking price for a resale house or condo is $384,356 - and that doesn't include any of the new homes that builders are trying to offload.
 
The average time that homes were on the market before accepting an offer was 97 days.  In November 2007, there were 7,981 active homes for sale in Pierce County.  At the end of November 2008, there were 6,998 active homes for sale in the MLS in Pierce County, representing a 10.44 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
 
If you are thinking about buying, this is an excellent time to get a great deal on a home! Interest rates are very low, and home buyers can now purchase homes that would have cost an additional hundred thousand dollars or more a year or two ago.
  
 
   
    
  
  
  
 
   
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
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Financial Assistance for Converting Baseboard Heat to Ductless Heating & A/C!

Thursday, November 13, 2008
by Stephanie Dawson
My father works for a Seattle heating and air conditioning company and told me about this exciting new plan for homeowners with electric baseboard or wall heaters.   Here is the information I published in the newsletter I mailed out this week:
ATTENTION: If you are heating your home with electric baseboards or wall heaters, Bonneville Power Administration and your local utilities are offering to help eligible homeowners pay for an UPGRADE!
 
If you currently have outdated baseboard or wall heaters, you are likely using more energy than is needed to heat your home. A new program is being launched early next year to help qualified customers to upgrade to a Ductless Heating and Cooling System that uses a fraction of the electricity and provides more comfort than outdated systems. Eligible homeowners may receive a substantial incentive when they have a system installed.
 
Why Upgrade to a Ductless Heating and Cooling System?
·         Save Energy and Money Every Month!
·         Systems Come Standard with Air Conditioning - No More Window Units!
·         Experience a More Comfortable Home
·         Low-Cost Easy Installation
 
Please give me a call to learn more about details of this exciting energy conservation pilot program!  I have more details and can help you determine if you qualify.
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King & Pierce County, WA - November 2008 Real Estate Market Update

Wednesday, November 12, 2008
by Stephanie Dawson
King & Pierce County Update for November 2008
When comparing October 2008 to October 2007, the average price of a home* in King County depreciated 7.95 percent, according to the NWMLS statistics.  Compared with October of last year, the average price decreased from $482,839 to $477,281 and the median price dropped from $387,500 to $358,500 for a decrease of 8.09 percent over October 2007.   The average asking price for a resale home or condo in King County is $669,698 - not including brand new homes.
 
The average time that homes were on the market before accepting an offer was 81 days.  At the end of October 2007, there were 14,240 active homes for sale in King County.  By comparison, at the end of October 2008, there were 14,655 active homes for sale in the MLS in King County, representing a 8.49 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.  
 
October
  
   
    
  
   
   
    
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

 

 

Pierce County
When comparing October 2008 to October 2007, the average price of a home* in Pierce County depreciated 11.11 percent, according to the NWMLS statistics.  More specifically, the average price fell from $304,061 to $273,665 and the median price fell from $274,950 to $241,000 for a decrease of 10.44 percent over October 2007.  In Pierce County, the average asking price for a resale house or condo is $390,296 - and that doesn't include any of the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 87 days, which is ten days better than September’s number of 97 days.  In October 2007, there were 8,439 active homes for sale in Pierce County.  At the end of October 2008, there were 7,244 active homes for sale in the MLS in Pierce County, representing a 9.61 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
  
 
   
   
  
  
  
  
  
   
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
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Second Annual Toiletries Collection for the Seattle Ronald McDonald House

Monday, November 10, 2008
by Stephanie Dawson

Most of us know someone who has had a child receive care at Children’s Hospital, and we’ve heard the many success stories of children that have overcome their health issues. As Puget Sound residents, we are blessed to live in an area with such excellent doctors. Not everyone who visits Children’s Hospital is a local resident. Some families travel thousands of miles to visit the Seattle Children’s Hospital, and they have an opportunity to stay at the Seattle Ronald McDonald House for less than the cost of a hotel stay. According to their website, approximately 1,100 families use RMDH as their home away from home each year, making the Seattle location the second largest House in the world.

  
Please join me in collecting toiletry items for the families that stay at the Seattle Ronald McDonald House (RMDH). Unlike a hotel, these rooms are not equipped with toiletry items for the families, so the RMDH relies on donations from vendors and caring individuals like yourself. The families staying at RMDH are often stressed with the enormous travel expenses and medical bills and having a few free toiletry items on hand will surely help them.

  
Here are the toiletry items the RMDH needs. Do you have any extra new & unused toothbrushes from dentist appointments or hotel stays? The small trial sizes are appreciated just as much as full size!

Toothpaste    /    Liquid Body Wash    /    Body Lotion
Toothbrushes    /    Shampoo    /    Hand Soap
Floss    /    Conditioner    /    Bar Soap

HERE IS HOW TO GET THE DONATED ITEMS TO RMDH: 
- You may drop them off in a box or bag (to my attention) at my John L. Scott Kent North Office in the Panther Lake Shopping Center (South of Albertson’s, next to Papa John’s) Monday through Friday 8 am—7 pm, Saturday & Sunday 9 am—5 pm.


- Deliver them directly to the Ronald McDonald House, located at 5130 40th Avenue NE, Seattle. The phone number for RMDH is (206) 838-0600. Or you may visit them online at www.rmhcseattle.org

I am collecting items through December 15th, 2008 and will deliver them to the Seattle Ronald McDonald House for you.

You may contact me on my cell phone at (206) 419-2833 or email me at Stephanie@ListedByStephanie.com with questions.

Thank you in advance for helping to make a positive difference in other people’s lives.

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King & Pierce County, WA - October 2008 Real Estate Market Update

Thursday, October 09, 2008
by Stephanie Dawson
King & Pierce County Update for October 2008
When comparing September 2008 to September 2007, the average price of a home* in King County depreciated 8.48 percent, according to the NWMLS statistics.  Compared with September of last year, the average price decreased from $486,404 to $448,387 and the median price dropped from $395,000 to $380,315 for a decrease of 3.86 percent over September 2007.   The average asking price for a resale home or condo in King County is $664,511 - not including brand new homes.
 
The average time that homes were on the market before accepting an offer was 77 days.  At the end of September 2007, there were 14,537 active homes for sale in King County.  By comparison, at the end of September 2008, there were 15,438 active homes for sale in the MLS in King County, representing a 6.73 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market. We have been hovering over the balanced market for 6 months now, contrary to what the media promotes.
 

  

 

 

  

  

 

   

 

 

*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

 
  

Pierce County
  
When comparing September 2008 to September 2007, the average price of a home* in Pierce County depreciated 10.52 percent, according to the NWMLS statistics.  More specifically, the average price fell from $303,156 to $274,288 and the median price fell from $269,925 to $241,950 for a decrease of 11.56 percent over September 2007.  In Pierce County, the average asking price for a resale house or condo is $394,912 - and that doesn't include any of the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 97 days.  In September 2007, there were 8,681 active homes for sale in Pierce County.  At the end of September 2008, there were 7,710 active homes for sale in the MLS in Pierce County, representing a 7.76 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
  
     
    
  
 
 
   
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
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Home Inspections: Ten Things to Check for Yourself

Thursday, September 25, 2008
by Stephanie Dawson

I saw this article from Touchpoint Communications Volume 17, Issue 11 and wanted to share it with you because I thought it was useful information.  One wouldn't perform this kind of inspection on every house that they saw with their real estate agent, but if you were really seriously considering making an offer on a house, I would recommend you take a closer look at the home.  I have paraphrased the article, below: 

Even new homes may have hidden problems.  Here are ten clues for determining a home's overall quality before you commit to the cost of hiring a licensed home inspector:

1. The Structure: From a reasonably distant vantage point, look at the house.  Do the walls appear to be plumb and flat?  From inside, are any walls bowed or not square at the corners?  When you jump up and down in the middle of the living room floor, does it flex or feel solid?

2. Water Control: Does the ground slope away from the base of the house?  Will gutters, downspouts and drainage pipes carry excess water away from the house - or will water flow into the basement?  Is there any evidence of water damage?

3. The Roof: Is the roof new and in good shape?  Does it look neat and properly applied?

4. Details: Do you see signs of quality workmanship in the finish details, such as moldings, tilework, hardware and paint?

5. Kitchen and Bath Fixtures: Are the sinks, toilets and tubs installed with quality fixtures?  Do they work properly?  Is the water pressure good when you turn on the faucets and flush the toilet?

6. Electrical System: Are the number and locations of receptacles adequate to the needs of the house?  Is the main circuit breaker marked at least "100 amps"?

7. Water Heater and Plumbing: Is the water heater gas or electric?  Typically gas is more efficient.  Water supply pipes running from the water heater to the fixtures should be copper.

8. Heating: Where is the furnace or heater located, and what type is it?  Are any rooms not heated?  Do heat registers (vents) look adequate for the room space?  Is the house air-conditioned?

9. Insulation: Look in the attic for insulation; R-19 (6 inches of fiberglass, for example) is a minimum in moderate climates; up to R-38 (12 inches of fiberglass) is required in cold climates.  Simply remove a receptacle cover on a perimeter wall to check for wall insulation.

10. Fireplace: Does it have screens or glass doors?  Doors are more efficient.  What about dampers and log lighters?  Is there a combustion vent that draws air from outside and a park arrestor at the top of the chimney?

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Green Your Home

Tuesday, September 23, 2008
by Stephanie Dawson

I just received my copy of REALTOR magazine and as I was reading it, I came across something in the "Cool Tools" section.  Here is the gist of what the article says...

"Save on energy costs and reduce greenhouse gas  emissions with the Eco Hatchery Starter Kit, which could help you trim up to $216 in utility bills each year.  The kit includes an appliance energy monitor, home water quality test, reusable filtered water bottle, home insulation products, eco lighting renovation tool, recycling resources directory, and more.  You'll also get eco-friendly product samples, such as nontoxic household cleaners and recycled coffee filters.  Then, visit an online 'Eco Roadmap' to receive personalized project recommendations and track your carbon footprint and savings."

Interesting!  This kit costs $97.50 and more information can be found at their website www.ecohatchery.com

What do you think of this kit?  Have you implemented any "green" changes recently or have you always recycled, reused things, and used flourescent lightbulbs?

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Property Tax Assessments

Thursday, September 18, 2008
by Stephanie Dawson
In Washington State, property taxes account for 30 percent of tax revenues for the entire state.  A large percentage of these tax revenues go toward educating our community’s young people.  In addition, our police, fire, libraries, and parks and recreation are funded with this money.
 
Each year at this time, Washington homeowners receive their annual property tax assessment.  Though many of us greet these statements with some trepidation, the assessment presents a perfect opportunity to think about your home’s value, and the value it brings to the community.
 
By keeping school levies, community improvements, and public services in mind, you’ll have a greater sense of where your hard-earned money is going.
 

Property value is assessed annually using one of several methods: using a market sales comparison, determining the cost of replacing the structure with one that would serve the same purpose, or figuring out the income-producing potential of the property. Once a property’s value is determined, special levies and district taxing policies are factored in to create your assessment.
 
In this slower market, many home owners are shocked that their assessment increased when it seems it should have decreased.  The reason for the increase is that we've had a really good real estate market for sellers over the last few years and taxes are assessed by looking at the home's perceived value over the last three year period.  Perhaps next year assessments will not show homes as high because they'll be including the 2008 data.
 
If you disagree with the value your local assessor has placed on your house, you are entitled to an appeal. First, be sure to check for appeal deadlines. Next, fill out your dispute forms as accurately and completely as possible.
 
Keep in mind: you may be asked to attend a formal hearing. Don’t fret—50% of appeals are successful.
 
Now that you have an idea of your home’s monetary value, it’s the perfect time to evaluate your options. Are you thinking of moving to a new neighborhood? Maybe you’ve decided that you want to downsize.
 
Let’s work together to map out a successful property marketing and price strategy plan. I’d be happy to discuss a comparative market analysis of your home.

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King & Pierce County, WA Update for September 2008

Saturday, September 13, 2008
by Stephanie Dawson
King & Pierce County Update for September 2008
  
When comparing August 2008 to August 2007, the average price of a home* in King County depreciated 8.7 percent, according to the NWMLS statistics.  Compared with August of last year, the average price decreased from $519,450 to $477,877 and the median price dropped from $415,000 to $388,350 for a decrease of 6.86 percent over August 2007.   The average asking price for a resale home or condo in King County is $657,651 - not including brand new homes.
 
With end-of-summer family vacations and back-to-school preparations, we saw a longer period of time pass before homes were sold in August. The average time that homes were on the market before accepting an offer was 80 days.  At the end of August 2007, there were 13,415 active homes for sale in King County.  By comparison, at the end of August 2008, there were 15,875 active homes for sale in the MLS in King County, representing a 6.86 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market. We have been hovering over the balanced market for 6 months now, contrary to what the media promotes.

 

  

 

  

  

   

  

 

*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

 
  

 

 

Pierce County
  
When comparing August 2008 to August 2007, the average price of a home* in Pierce County depreciated 16.84 percent, according to the NWMLS statistics.  More specifically, the average price tumbled from $326,520 to $279,452 and the median price fell from $285,000 to $250,975 for a decrease of 13.56 percent over August 2007.  In Pierce County, the average asking price for a resale house or condo is $400,212 - and that doesn't include any of the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 89 days, which is an improvement over last month’s average.  In August 2007, there were 8,839 active homes for sale in Pierce County.  At the end of August 2008, there were 7,958 active homes for sale in the MLS in Pierce County, representing a 8.01 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
  
     
    
  
 
   
 
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
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Displaying blog entries 181-190 of 245

I am a life-long King County resident and a REALTOR® who cares!  Read about my efforts to collect toiletry items for the Seattle Ronald McDonald House.  Let's give back!

Would you like to see my Seattle Insider List of really fun places to see in Seattle?  Please check out my Seattle Tourist blog post.

Have a real estate question?  Call me by clicking below.