Uncategorized • April 28, 2018

Farmer’s Market Schedule – 2018

by Sean Fortune

South Snohomish County •

Arlington Farmers Market
Legion Park: 200 N. Olympic Ave
Saturdays. 10am-3pm | July 7 — Sept 29

Bothell Farmers Market
Country Village: 23718 Both-Evrt Hwy
Fridays 12pm-6pm | June 1—Sept 28

Bothell South County Community Market
Park Ridge Church: 3805 Maltby Road, Bothell
Wednesdays 4pm-8pm | June 6—Sept 26

Edmonds Garden Market
Historical Museum: Between 5th & Bell Street
Saturdays 9am-2pm | May 5—June 9

Edmonds Summer Market
Downtown: 5th St from the fountain
Saturdays 9am-3pm | June 16—Oct 6

Everett Farmers Markets
Boxcar Park: 615 13^th Street
Sundays 11am-4pm | May 13—Oct 14

Everett Transit Center: 2333 32nd St
Wednesdays 4pm-8pm | May 23—Sept 26

Marysville Farmers Market
1035 State Ave
Saturdays 10am-2pm | June 23—Sept 1

Monroe Farmer’s Market
Lake Tye Park: 14964 Fryelands Blvd
Saturdays 8:30am-12:30pm | May 12—Nov 17

Mukilteo Farmers Market
Lighthouse Park: 609 Front Street
Wednesdays 3pm-7pm | June 7—Sept 27

Snohomish Farmers Market
The intersection of Cedar Ave & Pearl St.
Thursdays 3pm-7pm | May 3—Sept 27

The Eastside •

Bellevue Farmers Market
First Presbyterian: 1717 Bellevue Way NE
Thursdays. 3pm-7pm | May 17—Oct 11

Bothell Farmers Market
Country Village: 23718 Both-Evrt Hwy
Fridays 12pm-6pm | June 1—Sept 28

Issaquah Farmers Market
Pickering Barn: 1730 10th Ave NW
Saturdays 9am-2pm | May 5—Sept 29

Juanita Friday Market
Juanita Beach Park: 9703 NE Juanita Dr
Fridays. 3pm-7pm | June 1—Sept 28

Mercer Island Farmers Market
Mercerdale Park: 7700 SE 32nd St
Sundays 10am-3pm | June 3—Oct 7

Redmond Saturday Market
Redmond Town Center: 7730 Leary Way NE
Saturdays 9am-3pm | May 5—Oct 27

Sammamish Farmers Market
City Hall Plaza: 801 228th Ave SE
Wednesdays 4pm-8pm | May 9—Sept 26

Woodinville Farmers Market
DeYoung Park: 13680 NE 175th St
Saturdays 9am-3pm | May 5—Sept 29

Seattle Area •

Ballard Farmers Market
Ballard Ave NW
Sundays. 10am-3pm | Year round

Capitol Hill Broadway Farmers Market
Seattle Central Comm College: Broadway & Pine
Sundays 11am-3pm | Year round

Columbia City Farmers Market
37^th Ave S & S Edmunds St
Wednesdays 3pm-7pm | May 9—Oct 10

Fremont Sunday Market
Corner of 3410 Evanston Ave N
Sundays 10am-4pm | Year round

Lake City Farmers Market
125th St and 28th Ave NE
Thursdays 3pm-7pm | June 7—Oct 4

Lake Forest Park Farmers Market
Third Place Commons: 17171 Bothell Way NE
Sundays 10am-3pm | May 13—Oct 21

Madrona Farmers Market
1126 Martin Luther King Jr. Way
Fridays 3pm-7pm | May 18—Oct 12

Magnolia Farmers Market
Magnolia Village: 33rd Ave W & W McGraw
Saturdays. 10am-2pm | June 2—Oct 20

Phinney Farmers Market
Phinney Neighborhood Center: Phinney Ave N
Fridays 3:30pm-7:30pm | June 1—Sept 28

Pike Place Farmers Market
Pike Place & Pine St
Saturdays 9am-5pm | June 2—Nov 24

Queen Anne Farmers Market
W Crockett Street & Queen Anne Ave N
Thursdays 3pm-7:30pm | June 7—Oct 11

Shoreline Farmers Market
15300 Westminster Ave N
Saturdays 10am-3pm | June 9—Oct 6

University District Farmers Market
University Way NE “the Ave”
Saturdays 9am-2pm | Year round

Wallingford Farmers Market
Meridian Park: Meridian Ave N & N 50^th St
Wednesdays 3pm-7pm | May 16—Sept 26

West Seattle Farmers Market
California Ave SW & SW Alaska St
Sundays 10am-2pm | Year round

Uncategorized • April 28, 2018

Does it make more sense to rent or own?

by Sean Fortune

The current break-even horizon* in the Seattle metro area is 1.6 years!

*The amount of time you need to own your home in order for owning to be a superior financial decision.

With rising rental rates, historically low interest rates, and home prices on the rise, the advantage of buying vs. renting is becoming clearer each month.

In fact, Seattle has seen some of the sharpest rent hikes in the country over the last year! Snohomish County has seen a huge increase in apartment growth and rising rental rates as well. There are several factors to consider that will lead you to make the best decision for your lifestyle and your financial bottom line. Zillow Research has determined the break-even point for renting vs. buying in our metro area. In other words, the amount of time you need to own your home in order for owning to be a superior financial decision. Currently in Seattle the break-even point is 1.6 years – that is quick! What is so great about every month that ticks away thereafter is that your nest egg is building in value.

I am happy to help you or someone you know assess your options; please contact me anytime.

These assumptions are based on a home buyer purchasing a home with a 30-year, fixed-rate mortgage and a 20 percent down payment; and a renter earning five percent annually on investments in the stock market.

Uncategorized • April 28, 2018

Veggie Planting in Seattle

by Sean Fortune

It’s not too late! If you’re thinking about planting some fresh veggies but haven’t started yet, you still have time to get things in the ground for a late summer/early fall harvest. On average, the Puget Sound’s frost-free growing season is mid-March through mid-November, so with a little knowledge of when and how to start things, you can still see a bountiful harvest this year.

Some plants can be direct seeded into your garden, while others should be started indoors before being transplanted to your garden space. Deciding what to grow is the fun part! Plant what you like to eat, keeping in mind that some plants do better in our area than others.

Broccoli is arguably one of the most productive veggies you can grow in this area, although it can be vulnerable to root maggots and aphids. Giant Italian Parsley is easy to grow, highly productive, and expensive in the grocery store. Leeks are another that can be costly to buy in the store but trouble-free to grow in your own small space. Chard, Kale, Lettuce and Arugula are all full of vitamins and great for Northwest gardens. Carrots, Snap Peas, Snap Beans, Tomatoes and Basil all taste amazing fresh from the garden and grow relatively well in this area.

Check out the great resources at Garden.org for a full list of when to plant all these vegetables and more. They have detailed timelines for both spring and fall gardening; as well as information on transplanting seedlings vs. direct-sowing seeds.

Quarterly Market Trends • South King County • April 19, 2018

South King County Market Trends

by Sean Fortune

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 47% increase in new listings in March compared to February. That increase was matched by a 48% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 101%, indicating that multiple offers were the norm. We ended the quarter with 0.7 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 12% year-over-year.

South King County real estate has been a hot spot due to reasonable commute times and overall affordability compared to “in-city” real estate. In fact, the median price in March was 78% higher in Seattle Metro. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in south King County; please contact me if you would like further explanation of how the latest trends relate to you.

Uncategorized • April 19, 2018

Eastside Quarterly Market Trends

by Sean Fortune

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 54% increase in new listings in March compared to February. That increase was topped by a 58% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 103%, indicating that multiple offers were the norm. We ended the quarter with 0.7 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 14% year-over-year.

Eastside real estate has a very high premium due to close-in commute times and desirable neighborhoods. In fact, the median price in March was $927,000! Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends on the Eastside area; please contact me if you would like further explanation of how the latest trends relate to you.

Quarterly Market Trends • Seattle Metro • April 19, 2018

Seattle Metro Quarterly Market Trends

by Sean Fortune

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 69% increase in new listings in March compared to February. That increase was followed by a 48% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 105%, indicating that multiple offers were the norm. We ended the quarter with 0.6 months of inventory based on pending sales. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 16% year-over-year.

Seattle Metro real estate has a very high premium due to close-in commute times and vibrant neighborhoods. In fact, the median price in March was $800,000, up 5% from the month prior! Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in the Seattle Metro area; please contact me if you would like further explanation of how the latest trends relate to you.

North King County • Quarterly Market Trends • April 19, 2018

North King County Quarterly Market Trends

by Sean Fortune

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 55% increase in new listings in March compared to February. That increase was followed by a 41% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 106%, indicating that multiple offers were the norm. We ended the quarter with 0.6 months of inventory based on pending sales. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 14% year-over-year.

North King County real estate has a very high premium due to close-in commute times and desirable neighborhoods. In fact, the median price in March was $808,000, up 4% from the month prior! Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in north King County; please contact me if you would like further explanation of how the latest trends relate to you.

Quarterly Market Trends • South Snohomish County • April 19, 2018

South Snohomish County Quarterly Market Trends

by Sean Fortune

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 47% increase in new listings in March compared to February. That increase was matched by a 48% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 103%, indicating that multiple offers were the norm. We ended the quarter with 0.5 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 15% year-over-year.

South Snohomish County real estate has been a hot spot due to reasonable commute times and overall affordability compared to “in-city” real estate. In fact, the median price in March was 47% higher in Seattle Metro. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

North Snohomish County • Quarterly Market Trends • April 19, 2018

North Snohomish County Quarterly Market Trends

by Sean Fortune

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 54% increase in new listings in March compared to February. That increase was matched by a 50% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio was 100%, and average days on market was 35 days. We ended the quarter with 0.7 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 12% year-over-year.

North Snohomish County is one of the most affordable markets in the area. In fact, the median price in March was 28% higher in south Snohomish County. Buyers are migrating to the area, especially if they don’t have to commute into the city. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in north Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

Newsletter • April 3, 2018

Monthly Newsletter

by Sean Fortune

What the Same House Sold for 3 Years Later!
Price Appreciation Case Studies in South Snohomish & North King Counties

18407 62nd Pl W, Lynnwood • 3 bedroom • 1,305 sq ft

Sold in September 2014

$315,000

Sold in July 2017

$450,000

$135,000 INCREASE IN HOME VALUE: 42.85%

17836 1st Ave NE, Shoreline • 4 bedroom • 2,917 sq ft

Sold in November 2014

$560,000

Sold in January 2018
$800,000

$240,000 INCREASE IN HOME VALUE: 42.85%

Since 2014, home values have grown by over 10% each year, resulting in a resounding 35% or more return in pricing. Above are some examples of actual homes sold in late 2017 to early 2018 that also sold in 2014, and that were not remodeled or significantly improved in between sales. These examples show the growth in home values that we have experienced over the last three years due to our thriving local economy. I pulled these examples to show you actual pound-for-pound market data versus the statistical percentages I often quote in these market updates. I thought these examples were pretty telling and quite exciting.

This phenomenon has been driven by a lack of available housing inventory and super high demand due to the robust job market in our area influenced by companies like Amazon. In 2017, there were 1,000 people moving into our area each week! According to census data, that trend is supposed to continue.

The large price gains might seem familiar to the gains of the previous up market of 2004-2007 that resulted in a bubble, but this environment is much different, which is why we are not headed toward a housing collapse. Previous lending practices allowed people to get into homes with risky debt-to-income ratios, low credit scores, and undocumented incomes. A large part of why the housing bubble burst 10 years ago was due to people getting into mortgages they were not equipped to handle, which lend to the eventual fall of sub-prime lending and the bubble bursting. Matthew Gardner, Windermere’s Chief Economist speaks to this topic in this video.

It is supply and demand that is creating these huge gains in prices. An increase in inventory would be healthy and would temper price growth. Many folks who have been waiting for their current home values to return in order to make big moves involving their retirement, upgrading homes, investing, or even buying a second home are well poised to enter the market. If you are one of those people, I hope these examples provide insight on the increase in home values and how they might pertain to your goals.

Potential buyers might shy away from the market due to affordability. While it is expensive to buy a home in the Greater Seattle area, the people that have become homeowners over the last three years have built some amazing wealth. Interest rates remain low, helping to absorb the cost of a home in our area. Last month, I wrote a Love Letter to Buyers which helped layout the advantages of participating in today’s market and how to be successful. If you or any one you know is considering making a purchase, it is worth the read.

As we head into the active spring and summer months, if you’d like me to provide you a complimentary Comparable Market Analysis (CMA) on your home, so you have a better understanding of your home’s value, I’d be happy to do that. This would be an important component in charting your 2018 financial goals, and what a great time of year to gather that information! It is my goal to help keep my clients informed and empower strong decisions.

Celebrate Earth Day with us! Bring all your sensitive documents to be professionally destroyed on-site by Confidential Data Disposal. Limit 20 file boxes per customer.

We will also be collecting non-perishable food and cash donations to benefit Concern for Neighbors Food Bank. Donations are not required, but are appreciated.

Saturday, April 21st, 10am – 2pm.
4211 Alderwood Mall Blvd, Lynnwood 98036

*This is a shredding-only event. Only paper will be accepted – no electronics or recyclables.

Spring Gardening Tips to Help Get Your Yard Flourish-Ready

It is approaching that time of year when April showers will start to bring May flowers, so no better time to get outside to start prepping the garden. First, one must get their hands dirty cleaning out the beds, tending the soil and trimming back plants to prepare for new plantings and fresh growth. For a complete list of Spring gardening tips, click here.