NW REporter

November 2019 Issues

Accessory dwellings gaining acceptance as one approach to ease housing shortages

As municipalities wrestle with ways to provide affordable housing, representatives from the public and private sectors are working to clarify – or create – regulations to allow small homes (often known as Accessory Dwelling Units or ADUs) in backyards. ADUs may be defined in different ways but are generally considered [..]

Global group hosting Affordable Housing Summit in Seattle

Leaders from various real estate organizations and panelists from several public and private sectors who are actively working on affordable housing issues will convene in Seattle on November 14 for summit devoted to affordable housing. The event, which is open to the public, is presented by FIABCI-Seattle (International Real Estate [..]

Tri of fed agencies agree to change appraisal rules

Three federal regulatory agencies approved a rule change that eliminates appraisal requirements for homes priced up to $400,000. The new threshold ups the previous figure of $250,000. The move culminates a year-long process and review of more than 560 comments, and marks the first time the threshold for residential real [..]

Builders told to expect global recession, but Seattle area is likely to dodge it

The dwindling supply of vacant buildable lots is a key reason why prices are escalating and homeownership rates are declining, according to Todd Britsch, Pacific Northwest regional director of Metrostudy. He also believes a global recession is inevitable. Speaking at the annual Builder & Developer Breakfast presented by John L. [..]

How to find, renovate, or build a home suitable for aging-in-place

Three out of four people would prefer to continue to reside in their family home through their golden years. With only one percent of properties suitable for aging-in-place, the majority of homes are not quite ready for that move, however. To bring their home up to safe standards for aging-in-place, [..]

Construction underway for Everett’s first waterfront housing projects

Groundbreaking ceremonies for the Waterfront Place Apartments at Fisherman’s Harbor marked the start of construction for the first housing projects that are part of the redevelopment of the Port of Everett. The apartments will consist of two mid-rise buildings that bring housing to the waterfront for the first time in [..]

Elections, rules changes, service enhancements among agenda items at NWMLS member meetings

Fall meetings for member brokers across the Northwest MLS service area covered a variety of topics from elections to rules changes and service updates. This year’s elections for board of director positions in several districts will be conducted paperlessly via a voting platform called Election Buddy. That software, designed for [..]

Sparse supply spurring more competition among motivated home buyers in Western Washington

KIRKLAND, Washington (November 7, 2019) – “People are moving here, home prices will continue to increase, inventory shortages will occur. That’s our future,” remarked Dick Beeson, principal managing broker at RE/MAX Northwest in Gig Harbor, upon viewing the October statistics from Northwest Multiple Listing Service. Active listings of homes and [..]

News In Brief

Those who work in Washington enjoy the fourth-highest median wage in the nation, but it turns out that money only goes so far… Business.org compared each state’s (plus the District of Columbia) median wage to the cost of renting a 1 bedroom apartment and found that as a whole, Washington [..]

SKCR Events Calendar: November 2019

SKCR Events Calendar: November 2019

Real estate pros raising funds for tiny homes village being built for homeless veterans in Pierce County

“It takes a village to make a village,” say the backers of Orting Veterans Village, a development that will encompass 35 tiny homes for homeless veterans clustered around a large community building. It is being built in Orting on a 5+ acres. The parcel is leased from the Department of [..]

Builders compare generational differences in “What Home Buyers Really Want” report

Millennials desire outdoor activity spaces. This demographic also values walkability and accessibility to retail spaces, according to a survey by the National Association of Homebuilders (NAHB). In its latest “What Home Buyers Really Want” report, NAHB asked prospective and recent home buyers to rate 175 home- and community-related features using [..]