NW REPORTER

NW REporter

January 2022 Issues

Amazon commits $21 million to kick-start housing by developers of color

Amazon is funding a $21 million program to help real estate developers of color advance their careers. The free, part-time professional development program is offered in partnership with social impact and economic justice groups to support developers and facilitate affordable housing projects in three metro areas, including the Puget Sound [..]

Design firm touts “5 Ps” to address functionality, livability in pandemic era

In response to the COVID-19 pandemic, a national design firm developed a white paper centered on “Five Ps” that impact home design and the “work from home” era. On target designs that inspire positive feelings and moods, foster activity, and even motivate a sale, begin with a robust understanding of [..]

Forterra-led coalition launches “Forest to Home” initiative to produce affordable housing using renewable materials

“Forest to Home,” an initiative of Forterra, got underway last month when construction started on the first homes being built with an engineered wood product known as cross-laminated timber (CLT). The milestone is part of Forterra’s goal to create “local, affordable housing built by local labor with resources from local [..]

“Hi Neighbor” fund increases home buying power for Blacks

Eligible Black/African American homebuyers can borrow up to $12,000 to layer into a mortgage loan to use toward their home’s purchase cost. Dubbed the “Sam Smith ‘Hi Neighbor’ Homeownership Fund,” the deferred loan product is designed for first-time homebuyers. The new purchase assistance program is a private/public partnership between HomeSight, [..]

Covid could reshape housing demand

Covid could change where people choose to live, reshaping housing demand in cities and suburbs, according to research by the Joint Center for Housing Studies of Harvard University (JCHS). While a hybrid work schedule may be an option – and preference-for many workers, it isn’t feasible for all, prompting a [..]

Issues & Impacts

Issues & Impacts is a quarterly publication produced by the SEATTLE KingCounty REALTORS® to inform members about current issues and successes within your Governmental Affairs Department. SEATTLE KingCounty REALTORS® (SKCR) is ensuring that public policies support homeownership and your business’s bottom line. View the full publication

Northwest MLS brokers end 2021 with depleted inventory, rising prices, weather disruptions

KIRKLAND, Washington (January 6, 2022) – Severe shortages of inventory, record-low temperatures and snow restrained December housing activity around Washington state beyond expected seasonal slowdowns, according to a new report from Northwest Multiple Listing Service. Read the Latest Press Release Other resources: Market Report Video Statistical Reports (Members Only)

Users give Northwest MLS mostly high marks for services, products

Northwest Multiple Listing Service released results of its latest member satisfaction survey conducted last year. When asked, “In general, how satisfied are you with the service provided by NWMLS?” the MLS earned an overall score of 4.11 on a five-point scale.  Nearly nine of every 10 respondents (88.8%) said NWMLS [..]

New year, new laws for Washingtonians

Take-out diners will have to ask for utensils, the minimum wage will increase, the wealthy will pay more on capital gains, and felons will have their voting rights restored. Those are some of several new laws that became effective in Washington state on January 1. Also enacted are bans on [..]

News In Brief: January 2022

According to Gene Balk of the Seattle Times, a new poll of county residents found support for a handful of approaches that would increase the supply of homes, including one that’s highly controversial: The elimination of single-family home zoning – and not just in Seattle, but in the suburbs, too. [..]

Community reuse center notches notable numbers for 2021

The RE Store, a community reuse center that is part of RE Sources, posted some impressive numbers for its waste reduction efforts during 2021. The nonprofit organization operates a retail location in the Fountain District of Bellingham as well as an online store for curbside pick-up. Among last year’s accomplishments [..]

Economist expects “rocky road” for homebuyers

Forecasts from some of the country’s largest real estate services firms predict a less frenzied housing market in 2022, with prices rising at a more moderate rate than during 2021. Buyers should expect a rocky road over the next few months, suggested Daryl Fairweather, chief economist at Redfin. Data compiled [..]

SKCR Events Calendar: January 2022

SKCR Events Calendar: January 2022

Responding to drought, Las Vegas bans grass for new homes

Building on existing restrictions for water use, the Southern Nevada Water Authority passed resolutions last month that ban grass for all new housing and commercial developments in the Las Vegas metro area. The not-for-profit water agency also approved a measure to ban evaporative cooling machines, also known as “swamp coolers.” [..]

Northwest MLS brokers end 2021 with depleted inventory, rising prices, weather disruptions

KIRKLAND, Washington (January 6, 2022) – Severe shortages of inventory, record-low temperatures and snow restrained December housing activity around Washington state beyond expected seasonal slowdowns, according to a new report from Northwest Multiple Listing Service. Summary statistics from the MLS show the volume of new listings added area-wide dropped 12.3% [..]