Happy Mother’s Day!
What a beautiful weekend to celebrate our Mom’s & Family Time!
What are your plans? Gardening? Picnic? Brunch? Below are some fun “low cost or no cost” activities or places to visit this Mother’s Day Weekend. Plan on crowds in most places with this wonderful out of the ordinary weather! Oh – my sunglasses and peonies are loving it!
As for Real Estate we are in a Seller’s Squeeze Market.
“Today’s buyers have made their peace with today’s interest rates. They aren’t happy about them, but they understand their ability to refinance down the road when interest rates eventually fall. Sellers on the other hand have NOT made their peace with trading in their 3% Pandemic interest rate for a 6.5% rate. And now that housing prices have risen so dramatically since the beginning of the year, I can’t imagine that helps the equation. Unless someone HAS to sell, most sellers are looking at an equation along the lines of: If I sell, I’ll be paying a substantially higher interest rate, and buying at a relatively higher price point***. Ironically, this dynamic only sets the stage for the snowball effect to gain even more momentum: Fewer sellers = higher prices = fewer sellers = higher prices, and so on.
King County has grown by 135,368 residents since 2019 (+6.05%), Snohomish County has grown by 45,850 residents (+5.62%), and Pierce County has grown by 50,365 (+5.54%). With a growing buyer pool that’s now made their peace with today’s higher interest rates; against a Seller Squeeze due to those higher interest rates AND higher housing prices, this spiral points to even higher prices down the road. If you think lower interest rates will solve the Seller Squeeze… Well, let me put it this way: Buyers are going to be ecstatic when rates are 5.5%…but will sellers be as ecstatic? Not as much. Because 5.5% is still much higher than 3%. Thus, even in a declining interest rate environment, the snowball effect could create even more momentum and drive prices higher with increased buyer purchasing power due to falling interest rates.
I understand that sellers also get to take advantage of the higher price point on the sell side of things, but that only works out if the seller is moving-down. If a seller is moving-up (which a majority of them are) and the market has appreciated 10%…well, 10% on a $500k home equals $50k equity gain, but if the home they’re looking at started off at $750,000, then even though they made an extra $50k on their own home, they’re spending $75k more on their new one, which is why rising housing prices exacerbate the Seller Squeeze. “
Thank YouKyle Bergquist; Branch Manager – APM Puget Sound Group Ballard Office for providing me these stats and story of what we are seeing in todays market.
I am very excited about the possibilities of being a buyer. I am looking almost every day dreaming and scheming for my future purchase of my own home! (Please Birch Bay Condo lets Sell!) MLS#2055324 – Selling my Birch Bay Condo will give me my down payment and ability to buy a bungalow to call my own! If you know of anyone looking for a total turn key place in Birch Bay WA – please pass my contact information along!
View more details HERE!
Ordinary Adventures 14 Fun Things to do on Bainbridge Island with or without a carSchmitz Preserve Park t’s astonishing to find, in the middle of West Seattle, as many old growth trees as you might see in a whole season of hiking at Tiger Mountain. But Schmitz Preserve Park offers exactly that! The 53.1 acre park was formed from land donated to the city between 1908 and 1912, before the area had been completely logged. The largest parcel was donated by German immigrants Ferdinand and Emma Schmitz, after whom the park is named.
Lakeview Cemetery Seattle’s got quite a few graveyards, but none as iconic as Lakeview Cemetery in Capitol Hill. It’s home to several influential people, including Seattle’s founding fathers and Hollywood martial arts legends Bruce and Brandon Lee.
Swanson Nursery We’re here to help our neighbors love growing as much as we do. From your first visit to every conversation we have after that – it’s our privilege to be your gardening partner.
The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best advice is for someone in your position right now.
Regional Economic Overview
The pace of employment growth in Western Washington continues to slow. The region added only 90,340 new jobs over the past 12 months. That said, the annual pace of employment growth was a respectable 3.6%. Three counties have not recovered completely from their pandemic job losses: Whatcom, Skagit, and Snohomish. However they are short by just under 10,000 jobs, which should be recovered by this fall. Regionally, the unemployment rate in February was 4.1%, which was marginally above the 3.8% level of a year ago. The employment outlook has improved modestly, with the likelihood of a recession in 2023 down to about 50%. That said, I expect the pace of job growth to continue to slow as businesses remain concerned about a contraction in consumer spending, as well as facing tighter credit conditions following recent bank failures. READ MORE HERE!
7 Garden Trends That will be Huge This Year, According to Experts The team at Monrovia predicts these garden trends are about to surge in popularity.15 Kids’ Room Ideas for Cool Space to Call Their Own A kid’s bedroom is where they play, learn, sleep, and even get up to innocent mischief! As a result, their bedroom should mirror their unique personalities. While being an aesthetically pleasing space, their rooms must also be functional. In essence, this should be a safe space where a child can feel nurtured and grow. Read on for our top designer-approved inspirational kids room ideas!
Just about everyone seems to be adopting more environmental awareness these days, and while we’ve all heard of the virtues of recycling and electric cars, there’s now an array of far more surprising ways to save our planet.
Farmers Markets Around Town
Open All Year-Round: Find Your Market
Spark Golf is a network of social golf leagues organized to be casual and fun. We make it easy for co-ed players of all skill levels to play golf. In 2022 more than 1,000 courses will host Spark Golf across North America. Find a league and play Spark Golf at a course near you! www.sparkgolf.com
We are an inclusive community of athletes who find strength, confidence, and connection by pursuing lifelong health and fitness together. We believe coming to the gym can help you learn the skills, build the strength, and develop the flexibility you need to live the rest of your life to the fullest. www.greenlakestrength.com