King County, WA Real Estate News

By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
Changing Markets Means Changing Strategies We have all been to many workshops and classes over the years - I know I have. Education is always something I have been passionate about. I love teaching and I love learning! As the market experiences both large and subtle changes, we need to change our strategies accordingly. Being open to education is an extremely important trait in our industry, especially when the market shifts quickly. Taking a class is like a shortcut to save time and money. I have some great classes coming up, including the 2-day "Stop Making Excuses, Start Making More Money!” class and the 3-day Prosperity Strategy event in Palm Springs. Invest in yourself this autumn by coming to a class and learning something new. I hope to see you there! Join us for FOUR compelling...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
Client Events for Anyone How do we plan a client appreciation event that keeps everyone happy? Simple - we don't! What we need to find is the sweet spot that appeals to the most people. When I started planning a client appreciation event, my first step was to classify my past clients. I had groups of families, couples, single professionals, seniors, and more. Then, I tried to think of something that would appeal to all generations. Watch the video for some of my most successful ideas—and my least successful event idea—and the keys to creating a winning past-client event that lots of your past clients will love to attend year after year. Need help with getting the word out? Or maybe your event needs some specialty design work. Event RSVP postcards, flyers, menus, favor-bag stickers, ban...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
Client Gifts and Events Don't let 2022 slip by without recognizing your clients in a big way. Although the pandemic is still affecting us, our celebrations had to be tamped down over the last couple of years. So, dust off that past client database and let's do some big planning between now and the end of the year! Gifts? Events? What Do I Do? If you have never done any gifting or live appreciation event before, now is a great time to dive in. There are really only a few things to consider: What would be meaningful to you? What would be meaningful to your clients? How can you work in an element of live connection? How much time do you have? What is your budget? Start making a list and jotting down some ideas over the next few days and in the meantime, let’s dive a little deeper into the...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
Past Client Neglect We've all done it. There's not a real estate professional out there that hasn't at one point or another (or many times) neglected their past clients. It's easy to do. Just like anyone else, our current clients and urgent to-do list can take up all our attention and time. So, we need to have a system to ensure that we don't forget those past clients. In today's Zebra Report I share how I created systems to stay in contact with my past clients and the key factors in making your system work for you. While you are here, if you are in Washington State, check out this workshop I will be teaching this coming October 24-25 and December 5-6 at the Lynnwood Convention Center. LEARN MORE If the last few years have been a roller coaster, you need this class to refocus on the ac...
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By Rob Spinosa, SVP of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
How to Rock Adding a Co-Signer on a Mortgage!!!  When your fantasy of owning a home meets the reality of qualifying mortgage, it can sometimes mean that you'll need a little help.  And in more than a few of those cases, the most elegant solution can be a co-signer, technically known as a "non-occupant co-borrower" within the mortgage industry. So, who makes a good co-signer and who's just "bad company?" Let's learn how co-signers can impact, both good and bad, the three most critical elements of any loan approval; income, assets and credit. I won't deny it,  Rob SpinosaSVP of Mortgage LendingGuaranteed RateNMLS: 22343 Cell/Text: 415-367-5959 rob.spinosa@rate.com Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 *The views and opinions expressed on this site about work-r...
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By J. Casey Losh, CEO
(Ewing and Clark)
NWMLS July UpdateThe greater Seattle real estate market is still strong just like the rest of the state, but there are signs of change.  For instance, across the NWMLS pending (-24%) and closed (-30%) sales are down from the previous year.  Thus, the number of condos and homes listed is up to 15,381 which is nearly twice the amount last year (7,948 listings).  Thus, inventory supply is just over two months which is the highest it has been since January 2019 when there was 2.3 months' supply.  Despite the slowdown in the amount of sales, it is still not to the 3 to 6 months that is considered an even real estate market.  Therefore, prices are still up from the previous year.  Median prices across the NWMLS are up for homes 6.6% and 8.6% for condos.  Similar Results for Seattle Homes and ...
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By J. Casey Losh, CEO
(Ewing and Clark)
Despite the negative news, the Greater Seattle real estate market is still relatively strong.  It is slowing down, but the sky is not falling.  Across the NWMLS, inventory is up to 13,405 listings (homes and condos) which is over double last June (6,358 listings).  Nevertheless, inventory is at 1.48 month supply which is still not the 3 to 6 months that is considered an even market for buyers and sellers.  Thus, prices continue to stay high.  Median prices on the NWMLS are up to $650,000 compared to $589,000 a year ago: a 10.4% increase (10.5% for homes/10.2% for condos).  While 10.4% is a healthy increase, ironically, that is the smallest year-over-year gain since June 2020. Narrowing it down to just King County, there were 2,580 sales in June with a median sales price of $851,000.  Mo...
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By Adrian Willanger, Profit from my two decades of experience
(206 909-7536 AdrianWillanger-broker.com)
View Multigenerational Home in Kenmore, WA.Listing DetailsMultigenerational Home in Kenmore, WA.153366 Juanita Drive Northeast, Kenmore, WA.    Price: $2,149,500MLS number: 1926488Bedrooms: 5Bathrooms: 4Square Footage: 4,068Call Adrian Willanger-Managing Broker 206 909 7536 to see if this property is still available and arrange a showing. A Place to Live Well and Connect With Household MembersInStyle Homes’ newest offering features a fresh contemporary design complete with, potential income producing, move-in ready ADU. Within walking distance to Saint Edwards Park and “The Lodge" via the Juanita Drive Pedestrian and Bicycle improvement project. The new home is filled with custom built-ins, specializedcloset systems, custom glass stair railing, floating shelves, and a sleek modern kitch...
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By J. Casey Losh, CEO
(Ewing and Clark)
Residential properties across the NWMLS (26 counties) sold for 107.8% over asking price in April.  King County is one of two counties where inventory is down from a year ago.  This is especially true for condos where inventory is down 35%.  Thus King County prices are up nearly 20% for single family homes and 12.6% for condos  Median price in King County for a house is now nearly $1 million ($995,000) and condos are $518,000.  Nevertheless, inventory across the NWMLS is up slightly and with an uptick in interest rates, some think the real estate market will start to calm.  But, so far, the real estate market continues to be brisk and prices have continued to increase. Closed Seattle home transactions are down to 836 sales compared to 1,022 the previous April, Nevertheless, the average p...
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By J. Casey Losh, CEO
(Ewing and Clark)
Luxury real estate market is extremely hot.   In the first quarter of the previous year there were 371 sales over $2 million in King County.  In the first quarter of 2022, there were 513 luxury home sales over $2 million.  Not only were there more sales, the average list price of those luxury homes was nearly $2.78 million, BUT the average sales price was $3.04 million.  So the average luxury real estate listing went for nearly 9.5% over asking.  The highest sale price in the first quarter of 2022 was only $12.75 million compared to $18.15 million for the same time in the previous year.  Thus, the 2022 averages were not distorted by only a few large sales.  The Eastside continues to dominate the luxury "home" market.  8 out of 10 of the top sales in 2022 were in Bellevue, Medina, and Cl...
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By Kevin Meyer, Eastside and Greater Seattle Homes & Real Estate
(Kevin Meyer Group - John L Scott Real Estate)
Just Listed! Impressive Squak Mountain Home  Click here to access all photos. *Just Listed*    With gorgeous Cougar, Squak and Tiger Mountains just a stone’s throw away, this impressive home is a rare blend of incredible location, charming style and smart updates. Step inside and you can’t help but be captivated by the welcoming warmth of every handsome detail: a rustic wood-beam mantle, wood burning fireplace, charming brick accents, delightful tile work. There is so much personality throughout! The kitchen is a highlight, remodeled in 2019 with a cavernous stainless steel refrigerator/freezer, pro-style range, and beautiful finishes worth savoring. The expansive kitchen peninsula is the ultimate family gathering spot where the good times are sure to flow.   Outside, the generously siz...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
5 Tips for Real Estate Business Planning Success Business planning is top of mind for most business leaders this time of year. Lofty goals, dedication and drive are commonplace, but what is going to get you to a new level of success is not looking forward, it is looking backward and analyzing what has room for improvement. In all my years of both selling real estate and now as a coach and trainer, there are common challenges that always doom a business plan and sabotages goals. Agents aren't consistent, they aren't leveraging their time, they don't track their money, they don't connect, and don't take enough time off. So before you look forward, I encourage you to take a good hard look at your 2021 and ask yourself the following questions: Are You Consistent Enough? Meaning, are you fo...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
Keeping It Simple in 2022 Every year when the first of January rolls around, everyone comes up with this long list of things and goals they want to get done. But this year, I want you to start with one thing. Just one thing. Don't get distracted by the fog of resolutions and checklists of goals. Pick out one goal or task to achieve this year. It could be a thing that is a source of pain. It could be a source of great joy. It could remove stress for you. Just really think about one thing that, if you were to complete this year, would positively impact everything else. Start there. If you're successful, fantastic! Now you can pick a new one thing and continue on. I think we put a lot of pressure on ourselves. We sit down and create these great big, extravagant lists. It looks perfect in ...
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By J. Casey Losh, CEO
(Ewing and Clark)
The holiday season is historically slow time in the Seattle real estate market.  During COVID the last two years, the real estate market has not been as affected by  holidays as other years.  This November and last November are nearly identical in the number of transactions.  Both years the number of pending sales were nearly 8,600 and the number of closes sales were within 1.14% (8,976 in 2021 vs 8,875 in 2020). Only 6,455 listings were added this November which was well below the pending sales of nearly 8,600.  This continues the downward trend on inventory in the NWMLS.  Real estate inventory continues to be historically low.   For example, King County inventory is down over 10,000 listings compared to 2010 (see chart). King County Active Listings as of:   Nov 2021   1,149 Active Lis...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
2022 Real Estate Predictions - Be Brave With Your Opinion! The last two years have had an unprecedented effect on the economy, on the way we interact socially, on the way we shop, on education, and of course, on the real estate market. More than ever, your clients need to hear your voice when it comes to the real estate market and what they can expect in the coming year. Many real estate agents are not comfortable looking into the future and making predictions. However, making a prediction is nothing more than making your best guess based on the information you have at the moment. You make predictions all the time; you just may not refer to them as predictions. For example, let's say you have a listing that is priced in the middle of your market. It gets 15 offers and the price escalat...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
The Real Estate Numbers You Should Track My favorite thing about numbers is that they do not lie. If I look at an agent's business, their numbers will give a very clear indication of what's really going on. Not only do these numbers define past success, they also predict your future. If you don't know your numbers, you are running blind. When you track your numbers, you have the best possible road-map to success. What numbers am I talking about? There are lots of metrics, but the most important ones to consistently track are these: Gross Commission Income & Activity Let's start with the obvious one: tracking your monthly income. You should look at both the money and the activity. You may notice some interesting trends, including your most efficient client load, your burn-out point, and...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
Your Listing Checklist: Naming and Claiming What You Do In October, The Lones Group hosted our listing presentation class for real estate agents - Stop Losing Listings You Should Have Won. In that class, we offered 15 spots to those agents who wanted to revamp their listing presentation and be part of a case study. Well, those spots got taken very quickly. That case study is currently running and we are in the process of individually redoing each agent's listing presentation materials, customizing each to what they each offer a seller when they list their home. One of the first things we asked each of our case study participants to do is fill out an intake form which included checking off the services they did for each listing and checking those services they only did when the listing ...
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By Courtney Cooper, 206-850-8841
(Cooper | Cartwright)
Looking for an excellent new lifestyle or to elevate your home in general?  This is a fantastic floating home!  Elevate beyond your expectations in Portage Bay. Starting from the rooftop deck with two seating areas to soak up the view & fire pit to enjoy year round. Custom extra wide spiral staircase leads you to the covered deck off the main floor living area. Open concept for dining, cooking, and entertaining. Stunning ethanol fireplace, sleek kitchen w/ two eat-in areas, Wolf gas range, & Dekton countertops. Travel down the stairs to the bedroom level. The most beautiful bathroom and primary closet will knock your socks off. We love the breezeway between the two rooms on this level. Go for a dip in the lake or hot tub and take in the lapping water around you. The basement has room fo...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
What If a Seller Asks You to Cut Your Commission? The first thing you have to remember is that when someone asks you to cut your commission, they are being motivated by something. Maybe the seller is concerned about closing fees. Maybe a friend of theirs bragged about what they paid. Maybe they are just trying to figure out the differences between you and another agent (because you may be competing against other agents to secure this listing client). With that in mind, it's not about having perfect answers right off the top of your head. It's about opening up the topic for discussion. Both you and your prospective client should be comfortable talking about your commission. When I was an agent, I would frequently talk with sellers about commissions. My response was, "That is a really gr...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
How Will You Prepare Your Business for 2022? Right now it is the fall real estate season. Maybe, just maybe, in your area you might have the sensation that the market has softened. Maybe just a little bit. And ho-boy, if you have been working hard all year long, this may feel like a long overdue and welcome moment. But I've done my research. Have you? Because there is something you should know. Our market is still in dire need of new inventory and there's no relief coming in 2022. So, how will you prepare for the coming year? Every year, about this time, I'm already thinking ahead. I know that while it's only the second week of November that just around the corner is Thanksgiving and then BOOM the end of the year will be upon us. Are you wondering what the housing market will do this c...
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King County, WA Real Estate Professionals