Uncategorized • August 21, 2013

Seattle home values up 15 percent. What is your home worth now?

by Dustin Keeth

Home values across the country are up. In the Seattle metro area, property prices have increased by more than 15 percent from one year ago, based on figures from Zillow, an online real estate company, reports the Puget Sound Business Journal. The region’s median home value in July was $302,600, up 2.3 percent from June and up 15.3 percent from July 2012.

Based on figures from the Northwest Multiple Listing Service, The Seattle Times reports the following housing data:

The median price of single-family homes sold in King County in July climbed to $434,000, up 15 percent from a year ago and up 1.5 percent from June. The number of pending homes sales hovered above 3,000, the most since 2005.

In Snohomish County, the median home price was $304,000, almost 12 percent higher than a year ago.

Home values in Burien & Normandy Park, WA

Pierce County posted a 16 percent increase at a median home price of $195,000.

For King County, bank-owned homes made up just 9 percent of sales in 2013, compared to 14 percent last year, according to Richard Eastern of Bellevue-based Washington Property Solutions. Short sales comprised 13 percent of this year’s sales. Southwest King County had the lowest median price at $248,500, while the Eastside boasted the highest at $566,258.

Cash buyers continue to account for a fair portion of the market. Nearly 23 percent of June home sales in Greater Seattle were non-mortgaged purchases, according to San Diego-based DataQuick. Seattle’s real estate market continues to outpace the nation’s home appreciation rate of 6 percent with a median property value of $161,600.

Your source for Real Estate News for Seattle, Burien, Normandy Park and Des Moines.

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Blog • August 9, 2013

Which US Cities have the lowest Closing Costs?

by Dustin Keeth

Washington’s closing costs among lowest in U.S.

As mortgage rates slowly increase, so do loan origination fees. USA Today reports that loan-origination and other fees went up 6 percent in the last year to a national average of $2,402 on a $200,000 single-family mortgage loan to a customer with stellar credit and 20 percent down, based on data from Bankrate.com. The reason for the parallel rise in rates and fees is two-fold. First, higher rates mean less profit on the money loaned. To compensate for the loss in profit, lenders attempt to make up the difference in fees. Second, the work required in underwriting loans is greater today than it has been in the past, thereby increasing costs. Bankrate’s 2013 survey indicates that Hawaii averages the highest closing costs at $2,912 for a mortgage of $200,000 (excluding taxes, title fees, property insurance, association fees, interest, and other prepaid items). In contrast, Washington has one of the lowest in the nation at $2,208. – See more at: http://dustinkeeth.info/#sthash.LtCW2P5e.dpuf

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Blog • July 13, 2012

To shingle or not to shingle?

by Dustin Keeth

The Shingle artchitectural style is singularly American and stands in contrast to the nineteenth-century Victorian houses of the same era. The New England school of architecture reacted against the ornamental Victorian revival styles and created a new design that is considered America’s first modern house. Though it began on the East Coast, the style can be seen across America and especially in the Pacific Northwest and Great Lakes states. While towers, gables, and complex rooflines showcase some flourish, the Shingle style sets itself apart from its Victorian cousins with its streamlined appearance.

Blog • May 14, 2012

Spotlight on Pacific NW gardening

by Dustin Keeth

Everything comes alive in the Pacific Northwest with fair May weather. The last frost of the season is likely behind us, and gardeners have the next 200 days, approximately, to cultivate the annuals, perennials, and vegetables of their choice

Blog • May 8, 2012

Kitchen islands aren’t going away

by Dustin Keeth

Better Homes & Gardens The kitchen island is often the hub of the home, the place where family members and guests gather to eat and socialize. While the island’s function remains the same as it has been for years, its look and feel are changing. “Pare it down to the basics, and anything else is a great addition but not necessary,” says Samantha Emmerling, a senior editor at House Beautiful, as reported in the Chicago Tribune . She notes that since most homeowners want an area for prep, additional counter space, seating, and storage, the form of the actual island ought to follow its function