South Snohomish County Quarterly Market Trends

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 47% increase in new listings in March compared to February. That increase was matched by a 48% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 103%, indicating that multiple offers were the norm. We ended the quarter with 0.5 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 15% year-over-year.

South Snohomish County real estate has been a hot spot due to reasonable commute times and overall affordability compared to “in-city” real estate. In fact, the median price in March was 47% higher in Seattle Metro. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

Posted on April 19, 2018 at 3:26 pm
Cori Whitaker | Category: Market Trends and Statistics | Tagged , , , , , , , ,

What the Same House Sold for 3 Years Later!

Price Appreciation Case Studies in North King & South Snohomish Counties


17836 1st Ave NE, Shoreline  •  4 bedroom  •  2,917 sq ft

   


Sold in November 2014
$560,000

Sold in January 2018
$800,000

$240,000 INCREASE IN HOME VALUE: 42.85%


18407 62nd Pl W, Lynnwood  •  3 bedroom  •  1,305 sq ft

    

Sold in September 2014

$315,000

Sold in July 2017

$450,000

$135,000 INCREASE IN HOME VALUE: 42.85%


Since 2014, home values have grown by over 10% each year, resulting in a resounding 35% or more return in pricing. Above are some examples of actual homes sold in late 2017 to early 2018 that also sold in 2014, and that were not remodeled or significantly improved in between sales. These examples show the growth in home values that we have experienced over the last three years due to our thriving local economy. I pulled these examples to show you actual pound-for-pound market data versus the statistical percentages I often quote in these market updates. I thought these examples were pretty telling and quite exciting.

This phenomenon has been driven by a lack of available housing inventory and super high demand due to the robust job market in our area influenced by companies like Amazon. In 2017, there were 1,000 people moving into our area each week! According to census data, that trend is supposed to continue.

The large price gains might seem familiar to the gains of the previous up market of 2004-2007 that resulted in a bubble, but this environment is much different, which is why we are not headed toward a housing collapse. Previous lending practices allowed people to get into homes with risky debt-to-income ratios, low credit scores, and undocumented incomes. A large part of why the housing bubble burst 10 years ago was due to people getting into mortgages they were not equipped to handle, which lend to the eventual fall of sub-prime lending and the bubble bursting. Matthew Gardner, Windermere’s Chief Economist speaks to this topic in this video.

It is supply and demand that is creating these huge gains in prices. An increase in inventory would be healthy and would temper price growth. Many folks who have been waiting for their current home values to return in order to make big moves involving their retirement, upgrading homes, investing, or even buying a second home are well poised to enter the market. If you are one of those people, I hope these examples provide insight on the increase in home values and how they might pertain to your goals.

Potential buyers might shy away from the market due to affordability. While it is expensive to buy a home in the Greater Seattle area, the people that have become homeowners over the last three years have built some amazing wealth. Interest rates remain low, helping to absorb the cost of a home in our area. Last month, I wrote a Love Letter to Buyers which helped layout the advantages of participating in today’s market and how to be successful. If you or any one you know is considering making a purchase, it is worth the read.

As we head into the active spring and summer months, if you’d like me to provide you a complimentary Comparable Market Analysis (CMA) on your home, so you have a better understanding of your home’s value, I’d be happy to do that. This would be an important component in charting your 2018 financial goals, and what a great time of year to gather that information! It is my goal to help keep my clients informed and empower strong decisions.


Celebrate Earth Day with us! Bring all your sensitive documents to be professionally destroyed on-site by Confidential Data Disposal. Limit 20 file boxes per customer.

We will also be collecting non-perishable food and cash donations to benefit Concern for Neighbors Food Bank. Donations are not required, but are appreciated.

Saturday, April 21st, 10am – 2pm.
4211 Alderwood Mall Blvd, Lynnwood 98036

*This is a shredding-only event. Only paper will be accepted – no electronics or recyclables.

 


 

Spring Gardening Tips to Help Get Your Yard Flourish-Ready 

It is approaching that time of year when April showers will start to bring May flowers, so no better time to get outside to start prepping the garden. First, one must get their hands dirty cleaning out the beds, tending the soil and trimming back plants to prepare for new plantings and fresh growth. For a complete list of Spring gardening tips, click here.

 

Posted on March 29, 2018 at 4:52 pm
Cori Whitaker | Category: Market Trends and Statistics, Monthly Newsletter | Tagged , , , , ,

Quarterly Report – South Snohomish County

Price growth was particularly strong in 2017! Median was up 14% and average price up 12% over 2016. Median price in 2017 landed at $508,000 and the average at $543,000. The average amount of days it took to sell a house in 2017 was 24 days, which is 17% faster than 2016. The average list-to-sale price ratio over the last year was 101%, with the spring months as high as 103%! In 2017, inventory growth continued to be a challenge, with a 1% decrease in new listings compared to 2016. Even with inventory limitations there were 4% more sales! This phenomenon illustrates strong buyer demand and a need for more listings.

Median Price up 14%, Average Price up 12% Year-Over-Year

South Snohomish County real estate has seen a steady stream of buyers come our way due to affordability, reasonable commute times to job centers and quality of life. In fact, the median price in 2017 was 41% higher in north King County. Historically low interest rates continue to drive the market as well, they have helped offset the increase in prices. Sellers are enjoying great returns due to this phenomenon and buyers are securing mortgages with minor debt service.

This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

Posted on January 29, 2018 at 3:22 pm
Cori Whitaker | Category: Market Trends and Statistics | Tagged , , , , , ,

Matthew Gardner’s 2018 Housing Forecast

In a nutshell, here is Matthew Gardner’s 2018 Housing Forecast. If you want to read his forecast in more detail, click here: http://bit.ly/2Cx1oSG

Posted on January 10, 2018 at 12:36 pm
Cori Whitaker | Category: Matthew Gardner Economic Reports, Monthly Newsletter | Tagged , , , , , , , , , , , , , , , , ,

Our 12 Favorite Locally Recommended Lynnwood Restaurants

When it comes to restaurants in Lynnwood, no one knows more about the best spots around than our locals at Windermere Real Estate/North! From pizza and Asian cuisine to some excellent happy hours, they have the inside scoop on all of the top places to get your grub on!

Here is a list of our 12 favorite locally recommended Lynnwood restaurants:


BEER & HAPPY HOURS

Indigo Kitchen and Alehouse

  • Located at 2902 164th St. SW Lynnwood, WA 98087
  • Hours: 11:00a-1:00a Monday-Friday; 9:00a-1:00a Saturday-Sunday; Happy Hour: 3:00p-6:00p & 10:00p-12:00a Sunday-Saturday

A favorite among Yvette, Brian, and Tonya, Indigo serves up great comfort food and a rotating list of draft brews. “I like Indigo; they have a great happy hour,” Yvette shares. Tonya seconds that notion, with the addition that her “…favorite Lynnwood restaurant is Indigo for lunch and dinner…” and the locals can’t be wrong!

Special Brews

  • Located at 14608 WA-99 Lynnwood, WA 98087
  • Hours: 11:00a-10:00p Monday-Thursday; 11:00a-11:00p Friday-Saturday; 12:00p-8:00p Sunday

According to Rory, “for beer/cider, definitely hit Special Brews. Their selection is unreasonably large but the bartenders will always help you choose. And some local take out places deliver there,” making this tavern a win-win all around.

Hop Jack’s

  • Located at 19702 WA-99 #100 Lynnwood, WA 98036
  • Hours: 11:00a-11:00p Monday-Thursday; 11:00a-12:00a Friday; 8:00a-12:00a Saturday; 8:00a-11:00p Sunday; Happy Hour: 2:00p-6:00p & 9:00p-close Sunday-Saturday

Beat the summer heat with a refreshing drink from Hop Jack’s. “Hop Jack’s has a fantastic happy hour,” says Andrea. Indeed, with a beer tower pouring local brews at a frosty 34 degrees and affordable cocktails made with real fruit, this bar’s happy hour is an experience in itself.

Big T’s Moonshine BBQ

  • Located at 4911 196th St. SW Lynnwood, WA 98036
  • Hours: 11:00a-12:00a Sunday-Saturday; Happy Hour: 3:00p-6:00p & 9:00p-12:00a Sunday-Saturday

Take a trip to the wild west without ever leaving Lynnwood at Moonshine BBQ. “Moonshine BBQ on 196th has a great outdoor patio and happy hour,” shares Brian. With 16 northwest drafts, crafted moonshine and smoked barbeque pairings, and an old-fashioned saloon vibe, you can spend happy hour getting in touch with your inner cowboy!


WINGS & MORE

Cask & Trotter

  • Located at 18411 WA-99 Lynnwood, WA 98037
  • Hours: 11:00a-11:00p Monday-Wednesday; 11:00p-2:00a Thursday-Sunday

Chow down on classic BBQ burgers, sandwiches, and more while enjoying a full bar and happy hour at this premier Lynnwood barbeque joint. Andrea’s menu suggestion? “Cask & Trotter has the best wings ever!”

Big E Ales

  • Located at 5030 208th St. SW A Lynnwood, WA 98036
  • Hours: 11:30a-10:00p Tuesday-Saturday; closed Sunday-Monday

A unique and cozy Lynnwood brewpub, “Ellersick Brewery (aka Big E Ales),” as Brian notes, is a fantastic neighborhood hangout. “Wednesday night is wing night at Ellersick Brewery which is always a great place to meet up with friends,” Tonya shares. So grab the gang and head down to Big E Ales for some good beer, good grub, and good times!

B3 Breakfast & Burger Bar

  • Located at 4027 196th St. SW Lynnwood, WA 98036
  • Hours: 7:00a-9:00p Tuesday-Sunday; 7:00a-3:00p Monday

A recommended breakfast spot by Tonya, B3 Breakfast & Burger Bar is truly one-of-a-kind. Their menu includes unique items like Chicken N’ Savory Waffles as well as classic light breakfasts, specials, and gourmet burgers for lunch. If you want to wake up with some delicious flavors, check out B3 in the morning!


PIZZA

The Rock Wood Fired Kitchen

  • Located at 4010 196th St. SW Lynnwood, WA 98036
  • Hours: 11:30a-12:00a Sunday-Saturday

“Lynnwood has a couple of great pizza joints that you can’t beat,” shares Stefanie. “The Rock [for example] brews their own beer with seasonal selections and they do a killer wood fired pizza! My favorite is the ‘Crazy Train,’” which includes awesome toppings like hot cherry peppers and caramelized onions; definitely not to miss!

Zeeks Pizza

  • Located at 4309 196th St. SW Lynnwood, WA 98036
  • Hours: 11:00a-10:00p Sunday-Saturday

Another spot in Lynnwood for premium pies is Zeeks. “Zeeks pizza is also conveniently located and has a premium selection of beer and wine,” says Stefanie. “Can’t go wrong with their pizza either. Menu adapts with the season!”


ASIAN

O2 Sushi

  • Located at 18601 WA-99 #100 Lynnwood, WA 98037
  • Hours: 11:30a-2:30p (Lunch) & 5:00p-12:00a (Dinner) Tuesday-Saturday; 12:00p-9:00p Sunday; closed Monday

Recommended by Yvette for its great food and karaoke, O2 Sushi is a must. Bento boxes, happy hours, and tons of delectable sushi dishes make this place ideal for any adventurous foodie!


Silver Spoon Thai Restaurant & Bar

  • Located at 3828 196th St. SW Lynnwood, WA 98036
  • Hours: 11:00a-10:30p Sunday-Thursday; 11:00a-11:30p Friday-Saturday

For the best Thai food in Lynnwood, Brian suggests Silver Spoon. With an atmosphere of relaxed elegance and an array of great-tasting Thai dishes, this spot is perfect for a quiet date or nice family meal.


Muto Izakaya

  • Located at 19505 44th Ave. W K Lynnwood, WA 98036
  • Hours: 11:30a-2:30p & 5:00p-10:30p Monday-Friday; 12:00p-10:30p Saturday; 5:00p-9:00p Sunday

Also recommended by Brian, Muto Izakaya is one of Lynnwood’s hidden food gems. Authentic, delicious ramen and other dishes, plus a welcoming, homey ambiance, keeps the locals returning again and again.

Posted on June 27, 2017 at 2:30 pm
Cori Whitaker | Category: Lynnwood, Neighborhood Profiles | Tagged , , , , , ,

11 Awesome City Conveniences You Didn’t Know Were in Lynnwood

Lynnwood’s city conveniences are exceptional, and from top-notch transportation options to recreation opportunities, it’s packed with some excellent spots that can improve your day!

Here are 11 awesome city conveniences you might not have known were in Lynnwood:


TRANSIT

When it comes to getting around, Jen B knows trails and park-and-rides that make commuting a breeze! For example, summer is great for taking advantage of the Interurban Trail:

“Take a bike ride or jog along the Interurban Trail,” says Jen. “Linking North Seattle to South Everett, this is a great regional connector trail!”

Another suggestion? Commuters should definitely be taking advantage of the Lynnwood Transit Center, a convenient park-and-ride that features 1,368 parking spaces, lockers, a ride store, and more. Also, for those living in Lynnwood or those with plans to move to Lynnwood, you’re in luck—the Link Light Rail is coming to Lynnwood! Currently, the light rail runs from Angle Lake (just past the SeaTac Airport) to the University of Washington, but by 2023, the Light Rail will have four new station locations added from Northgate to Lynnwood. New stations include one at Northeast 145th Street, Northeast 185th Street, the Mountlake Transit Center (at 236th Street Southwest), and a station at the Lynnwood Transit Center (at 200th Street Southwest).

With these future extensions, riders are promised more frequent and reliable transportation and less pain from traffic congestion! It is estimated that commuters will be able to get from Lynnwood to Downtown Seattle in 28 minutes or to Sea-Tac Airport in 60 minutes.


SCHOOLS

Whether you’re starting out or starting over, Lynnwood has great opportunities for a college education. Edmonds Community College features 61 associate’s degree programs in disciplines like Pre-Nursing and Business/Accounting. With a newly announced Bachelor’s degree program too, Edmonds provides tools for success!

If you feel like there’s not enough time to go back to school, check out Central Washington University’s Lynnwood Campus too. CWU is dedicated to giving students valuable education through flexible class styles. The ability to complete your Bachelor’s degree on the Lynnwood campus ensures that you can balance your responsibilities and educational commitments.


COMMUNITY SPACES

From special events to family fun, Lynnwood offers amazing community spaces. Looking for a wedding or party venue? The Lynnwood Convention Center is a fantastic option! Convenient parking, a versatile landscape, and professional chefs are some of the services that promise you and your guests a memorable experience.

For something everyone will enjoy, visit the Lynnwood Recreation Center & Pool. “The Lynnwood Rec Center & Pool is one of the most popular places for family fun in Lynnwood,” shares Claudette M.

“There is often a line of people that wraps around the building for Rec & Open Swim sessions in this LEED certified facility featuring 3 pools, 2 hot tubs, 2 giant slides, beach access for toddlers and preschoolers, and a large water-dumping-bucket and play area (a la Great-Wolf-Lodge style, but at a fraction of the price) there’s something for everyone no matter their age.”


PARKS

If you’re out and about, stop by one of Lynnwood’s awesome parks for a picnic and play time! Wilcox Park “offers play structures, open field for volleyball, soccer, frisbee and a wooded area too,” according to Tonya T. “Wilcox City Park, also known by Lynnwoodians as Flag Park, offers a summer Farmers Market on Thursdays,” Stefanie M shares.

Another spot is Scriber Lake Park, which Tonya describes as “…a bridged walkway through natural ponds, streams and woods,” an ideal spot for wildlife lovers. Looking for something expansive that you can get lost in? Lynndale Park is Lynnwood’s largest park. Tonya’s tip? “The amphitheater at Lynndale park has live summer events!”


If you’re a history buff, Tonya recommends Heritage Park, which celebrates the city’s agricultural, transportation, and social heritage. Finally, Jen also recommends North Lynnwood Park for summer fun: “The North Lynnwood park has a dragon-themed splash pad, covered picnic areas, play equipment, and tons of lawn space. Perfect on those sunny summer days that will be coming soon. Right? Summer is coming, isn’t it?”

Posted on June 25, 2017 at 2:31 pm
Cori Whitaker | Category: Lynnwood, Neighborhood Profiles | Tagged , , , ,

13 Gorgeous Instagram Photos of Lynnwood You Need to See

Whether you’re looking for a gorgeous spot to spend the day or searching for a scenic area to snap a few family photos, Lynnwood is brimming with beauty if you know where to look! Enjoy these Instagram photos taken throughout Lynnwood to see all that this dynamic city has to offer:


1 & 2. Scriber Lake Park

Both of these views of Scriber Lake Park in Lynnwood are stunning, and this 22-acre park is definitely worth checking out. It features the lake, a floating boardwalk, opportunities for observing wildlife, a 0.8-mile walking trail, and a great history. Bring your camera and start exploring! Learn more here! 


3. Lynnwood Transit Center

What a spectacular sunset captured at the Lynnwood Transit Center! Did you know that the light rail is coming to Lynnwood? This is a huge deal for people in the area who commute—learn more about the Lynnwood light rail expansion here! 


4 & 5. Lynnwood Golf Course

Golf enthusiasts in the Lynnwood area are in luck—did you know we had such a lush, gorgeous course like this right in our backyard? Learn more about the course here! 


6 & 7. Great Commuting Options

Lynnwood is a popular choice for commuters—Highway 99, Interstate-5, and 405 all run through or border Lynnwood. Plus, the Interurban Trail, the Lynnwood Transit Center, and the link rail expansion ensure there’s plenty of commuting options to take advantage of. For tips on commuting in Lynnwood, click here!


8 & 9. Meadowdale Playfields

This incredible 27-acre complex is brimming with adventure! Not only can you find softball fields and a basketball court, but there’s also a play structure, picnic facilities, a forested area and a pond to explore, restrooms, and walking trails! Learn more here.


10 & 11. Lynndale Park

When you need to retreat into nature but don’t want to drive far, the 22-acre Lynndale Park is the perfect spot to head to! In addition to several sport courts and fields, there is play equipment, a skate park, a huge forested area with nature and walking trails, an off-leash dog area, and more! Click here for more information. 


12 & 13. Sunset Over Lynnwood

We’re glad that a couple of Lynnwood photographers took a moment to capture these beautiful sunsets!


 


 

Posted on June 13, 2017 at 1:55 pm
Cori Whitaker | Category: Lynnwood, Neighborhood Profiles | Tagged , , , ,