Uncategorized Market Update June 8, 2022 MAY’S LOCAL HOUSING DATA IS AVAILABLE!In this week’s email, I’ll be analyzing our May numbers to shed some light on the developing trends. HISTORIC VS CURRENT DATA Sales Price for resale homes is up to it’s all-time-high of $825,000 Resale homes in Gig Harbor have seen their prices appreciate 17.9% Historically, 150 homes are listed […]
Uncategorized Market Update June 1, 2022 IS THE HOUSING MARKET CRACKING?Cracks are starting to show in the housing market. Rising interest rates, quantitative tightening, consumer sentiment at recession level lows, and drastically-lower-than-predicted new homes sales, are all signaling that things are about to change. Let’s find out why! In addition to “location, location, location” real estate is primarily driven by inventory. […]
Uncategorized Market Update May 25, 2022 RAY DALIO AND JEREMY GRANTHAM ON HOW THEY’RE SEEING THE WORLD RIGHT NOWThis email will be a little different that my standard real estate related content. I feel like I needed to share this information with you because it’s likely no one else is… including those in charge of your retirement accounts. If you have […]
Uncategorized Market Update May 18, 2022 How to read graphic: The median spend in 2021 on a kitchen remodel was $15,000, a 25% increase from 2020. One could infer costs have increased in 2022. CONSIDERING SOME RENOVATION? With building materials and labor prices climbing ever higher, you might be wondering just how much it would cost to update your home. Therefore, […]
Uncategorized Market Update May 11, 2022 NEWS BEFORE IT’S NEWSThis is the first time in the last four years that we have seen a year-over-year increase of more than one percent of active listings with price drops. This is called an inflection point. It doesn’t mean it’s going to sustain, it just happens to be one of those early signs. While […]
Uncategorized Market Update May 4, 2022 PIMCO vs PIMCOI recently read an interesting article that you might have come across as well. In it, one of the top dogs at Pimco claims that “we’re in the final innings of the real estate market,” while other analysts at Pimco expect only a slowdown of home-price growth. If the name “Pimco” doesn’t ring […]
Uncategorized Market Update April 27, 2022 MONDAY WITH MATTHEW: THE CURRENT STATE OF THE US HOUSING MARKETWith so much clickbait these days predicting this crash or that bust, I thought it’s best to allow Windermere’s chief economist, Matthew Gardener, to illuminate us with what’s really going on. Just as an observation, there’s a big difference in “reality” if your paycheck doesn’t […]
Uncategorized Market Update April 20, 2022 MORTGAGE RATES: SETTING THE STAGE FOR FUTURE HOUSING SHORTAGEI try to avoid talking about mortgage rates as much as possible… it tends to make fore very dry reading. However, we are currently experiencing a drastic change in mortgage rates. Mortgage brokers are having to deal with entire percentage point swings in a single day. Since […]
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Uncategorized Market Update April 13, 2022 HOME FLIPPER INSIGHTSHome flipping is at its highest level since 2006. What makes this fact interesting is that despite the dropping profit margins, we’re seeing a record amount of homes being flipped. It is estimated that the amount of flipped homes grew by 26% in the year 2021 compared to 2020. (Data isn’t available yet […]
Uncategorized Market Update April 6, 2022 PRICES LEVEL OUTAs we begin to enter our spring housing market we’re starting to see an interesting trend emerge. The sudden spike in interest rates are starting to weigh down the median priced housing market. As shown in the graph above, the current median price in Gig Harbor is currently sitting at $710,000. I’ve included […]
Uncategorized Market Update March 30, 2022 EMAIL LITE™ THIS WEEKWith two new listing coming online tomorrow (and another one in the works) I don’t have the usual amount of time set aside this week for my real estate deep dive. That being said, there are some topics I’d still like to share that are worth paying attention to: Yield curve inversion!Why […]
Uncategorized Market Update March 23, 2022 1031 EXCHANGE – THE DETAILS!As promised – I’m going in- depth on the 1031 Exchange. If you’re interested on learning more about why this IRS rule is so appealing and difficult for so many people, you’ve come to the right place. For the uninitiated, the 1301 Exchange is basically an IRS tax code section that […]
Uncategorized Market Update March 16, 2022 WONDERING WHY THE RICH DON’T PAY THEIR “FAIR SHARE” OF TAXES? It’s simply. They follow the IRS incentive structure: Own a big business (+500 employees) Invest tax-break markets:  Energy, Agriculture, Mining, and Housing. Sadly, these tax breaks are limited to entrepreneurs and accredited investors… which most American’s are not. However, there is good news. The […]
Uncategorized Market Update March 9, 2022 HOW WILL CONFLICT IN EASTERN EUROPE IMPACT OUR HOUSING MARKET?There has been a tinge of panic spreading through the real estate market regarding the sudden escalation in mortgage rates and what war in Eastern Europe would mean for the US housing market. The fear and uncertainty stemming from any international conflict impacts equity markets by […]
Uncategorized Market Update March 2, 2022 WOW! NOT A WHOLE LOTTA CHANGE!Sorry about the clickbaity subject line, but the lack of change between January’s stats and February’s does give us an insight on the weird developing trend in the market. Median sales price, days on market, homes for sale, and price per square foot, all remained on par with prior month’s […]
Uncategorized Market Update February 23, 2022 RENT AND MORTGAGES PUSH HOMEOWNERS TO MOVE!Well, faster than the bobble-heads on TV have been saying. But because you’re reading this weekly email (and are therefore super informed on all things housing) you knew this was inevitable. As if the available inventory wasn’t bad enough, there are additional factors that are making relocating for the […]
Uncategorized Market Update February 16, 2022   THE QUICK FIX TO INFLATION – CHANGE THE CPI MEASUREMENT!The government is changing the way they measure CPI this year. So what if inflation is running a little too hot? No problem! Should we bring down prices? Nope! Just change the weight of the things being measured. Why? So politicians can get re-elected without […]
Uncategorized Market Update February 9, 2022   WASHINGTON’S PROPOSED ZONING CHANGESThere have been some rumblings as of late due to a couple of bills that are making their way through the State Senate and the House. Both of these bills seek to introduce denser housing types into single-family zoned neighborhoods… and we’re not just talking King County here… these bills will […]
Uncategorized Market Update February 2, 2022   MATTHEW GARDNER’S Q4 2021 WESTERN WASHINGTON REPORT Windermere’s chief economist, Matthew Gardner, just released his analysis of the Western Washington real estate market. You can of course read the full report via link above… or read the key takeaways I have compiled for you below. ❱❱ UNEMPLOYMENT DATAThe most recent data (November) shows the […]
Uncategorized Market Update January 26, 2022   IT’S NOT JUST HOUSING…The short supply of housing that caused a boom in prices is spilling over into the rental market. Renters are competing for fewer and fewer available properties. Demand is so strong that we’re seeing national vacancy rates down at 5.8%. While this isn’t a historical low, it’s the lowest we’ve seen […]