NW REPORTER

NW REporter

April 2018 Issues

Labor costs, availability and building material prices lead list of biggest concerns builders cite for 2018

Labor costs and availability plus prices for building materials lead a list of major concerns builders cite as factors for the construction shortfall and items that concern them most. The same concerns topped the list for 2017. Builders identified 10 significant problems they expect to face in 2018 as part [..]

Buyers reveal “essential features” when house-hunting

Having a living room is essential to most prospective home buyers, with 61 percent of first-time buyers listing that feature as their top requirement. Among shoppers who are looking for their second or subsequent home, 72 percent said a laundry room was their top must-have feature. The poll results were [..]

Homeownership is top component in household wealth

Homeownership – more than any other financial asset – is key to household wealth, accounting for nearly one-fourth of all assets held by households in 2016. The Survey of Consumer Finances (SCR) valued assets made up of primary residences at $24.2 trillion. Three additional categories accounted for another 55 percent [..]

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 (PDF, 20 pages, 206KB)

Judge overturns Seattle’s first-in-time rental law

Property owners claimed victory while proponents of a Seattle law known as “first in time,” a law meant to regulate landlords and fight implicit bias against certain renters, vowed to appeal a judge’s ruling siding with landlords. The law had required landlords to rent to the first qualified applicant. Late [..]

Housing Market Back to “Pressure Cooker Situation” But Brokers Remind Sellers “Pricing Is Still Important”

KIRKLAND, Washington (April 5, 2018) – Job growth and a recent run-up in mortgage rates has created an “extremely intense market for each new listing,” stated J. Lennox Scott, chairman and CEO of John L. Scott Real Estate in commenting on the latest statistics from Northwest Multiple Listing Service. MLS [..]

Millennials lead all homebuyers

Millennials accounted for 36 percent of all home purchases last year, retaining their ranking as the most active generation of buyers for the fifth consecutive year, and improving on the previous year’s figure of 34 percent. Despite that feat, the chief economist at the National Association of Realtors® said the [..]

Northwest MLS unveils latest tools, services at member meetings

Membership meetings for the broker-owned Northwest Multiple Listing Service promised a full agenda, and it did not disappoint! MLS staff previewed several new and enhanced tools and provided updates on a variety of industry activities and concerns. Tara Marino, director of communications and training at Northwest MLS, presented an overview [..]

NWMLS Monthly Market Snapshot

Share on Social Media You are able to download the infographic to republish on your website or provide to clients. Usage Terms Subscribers may provide NWMLS’s Market Snapshot infographics to clients and prospective clients. Subscribers may republish NWMLS’s Market Snapshot infographics on websites, blogs, e-mails, newsletters, postcards, etc. Subscribers may [..]

King County broker tapped to chair Northwest MLS Board

Jason Wall, president and designated broker at Lake & Company Real Estate in Seattle, has been elected chairman of the Northwest Multiple Listing Service (NWMLS) board of directors. Other new officers for 2018 include Kevin Campbell, vice chairman; Robert Wasser, treasurer, and Randall Fisher, secretary. Joining the officers on the [..]

News In Brief

Four years of work remains, but drivers will soon to start to see the fruits of 17 years of construction on I-5 through Tacoma, according to a report in mynorthwest.com. The new northbound Puyallup River Bridge should open to all drivers in May. That is a huge step forward for [..]

SKCR Events Calendar

Date Event Time Where Phone 5/13-18/19 NAR Meetings Washington, DC 425-974-1011 5/23/19 First Citizen Banquet 5:30 pm – 9:30 pm Fairmont Hotel, Seattle 425-974-1011 5/27/19 Holiday – Office Closed 6/4/19 Housing Issues Briefing 11:30 am – 1:30 pm Meydenbauer Center 425-974-1011 For updates visit: www.nwrealtor.com and look under “Events”