NW REporter

June 2018 Issues

Builders of California homes must include solar provisions starting in 2020

Most new housing built in California after 2020 will be required to have installed solar power under a mandate of the state’s Energy Commission. The new energy efficiency standards, approved unanimously and developed with support from the California Building Industry Association, are the first in the nation to require solar. [..]

Seattle among areas where house-buying power is eroding

Years of pent-up demand resulting in a supply imbalance, a long run of historically low levels of new home construction, existing owners who are increasingly reluctant to list their homes, and rising mortgage rates are creating an ultra-competitive market and in some areas, eroding purchasing power, according to First American’s [..]

From holes to homes: transformation underway

Kent’s first-of-its-kind luxury rental housing is being built on a former nine-hole par 3 golf course. Developers broke ground last month on the 24-building, 20-acre mixed use project known as Marquee on Meeker. When completed, the development will encompass nearly 500 apartments in 21 three-story residential buildings, plus two six-story [..]

Real estate guru shares six real-estate related insights

Mortgage rates will rise, a downturn in housing is unlikely, presidential appointees will maintain a firm grip on mortgage policy, and building materials expenditures will grow. Those expectations were among insights discussed by real estate “guru” John Burns at a recent webinar. Burns, the founder and CEO of John Burns [..]

Improving inventory creating long-awaited opportunities for buyers

KIRKLAND, Washington (June 5, 2018) – Member-brokers of Northwest Multiple Listing Service added 14,524 new listings during May, the first time that volume topped 14,000 since May 2008. “With eyes peeled for potential shifts in a market that’s felt like ‘more of the same,’ the recent uptick in new listings [..]

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 [..]

News In Brief

According to the Wall Street Journal, Mortgage financing giant Freddie Mac has announced it will offer low-cost loans to multifamily property owners who keep their buildings affordable to middle-class families. Landlords will receive lower interest rates if they agree to make the majority of their units affordable for tenants who [..]

Majority of homeowners plan to remodel, not move

Current homeowners – by a wide margin – say they plan to never move. A new survey by Bankrate found 21 percent of homeowners plan to move within five years, but a whopping 62 percent say they plan to stay put. The Bankrate survey also revealed a strong preference 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 [..]

Vulcan volunteers converge for single-day buildout of tiny houses

Five hundred volunteers convened at CenturyLink Field Event Center on May 25 to take part in “Vulcan Converge,” a day of service for employees, former Seahawks and other volunteers. Their goal was to build 30 tiny houses. The completed houses will be donated to a tiny house village in Seattle’s [..]