Welcome to my Real Estate advice column, “Dear Don,” where I answer all your burning Real Estate questions. Send yours to me at donkoonce@windermere.com, and I’ll try to answer them in future columns.
Dear Don:
Is this a good time to buy a home?
Worried Wanda
As we step forward into 2019, eco-friendly “green homes” are more popular than ever. Upgrading your home’s sustainability improves quality of life for those residing in it, but it is also a savvy long-term investment. As green homes become more popular, properties boasting sustainable features have become increasingly desirable targets for homebuyers. Whether designing a new home from scratch or preparing your current home for sale, accentuating a house with environmentally-friendly features can pay big dividends for everyone.
While the added value depends on the location of the home, its age, and whether it’s certified or not, three separate studies all found that newly constructed, Energy Star, or LEED-certified homes typically sell for about nine percent more than comparable, non-certified new homes. Plus, one of those studies discovered that existing homes retrofitted with green technologies, and certified as such, can command a whopping 30-percent sales-price boost.
There are dozens of eco-friendly features that can provide extra value for you as a seller. To name a few:
Dear friends,
Have you hear about Treehouse–Washington’s leading nonprofit organization addressing the academic and other essential support needs of youth in foster care? Treehouse helps more than 7,500 youth each year through programs that focus on their academic success, fulfill key material needs and provide important childhood experiences every child deserves, and they can always use donations of gently used clothing.
In fact, a lot of people don’t know that Treehouse accept adult’s clothes as well as kid’s clothes. They have an exchange arrangement with Goodwill in which Goodwill gives them two kid’s garments in exchange for one adult garment. I am happy to pick up your clothing donations and deliver them to Treehouse, just give me a shout.
More About Treehouse:
The holidays were just around the corner when Astrid and Matt Horine reached out to my colleague Dorothy Driver and I about listing her Mount Baker Townhouse, which she had been renting out for some time.
The home was bright and spacious and nestled perfectly between the desirable Mount Baker and Columbia City neighborhoods, within walking distance to shopping, dining, nightlife, light rail, buses, parks and seasonal farmers markets.
Astrid had been impressed by our super successful sale of her neighbor’s home at 4735 South Hudson Street in the Southeast Seattle neighborhood of Lakewood, where the sellers were blessed with a final sale price 16% more than list price, but that house had been listed in May 2018 and the market had changed a lot in just a few months.
It was clear that we needed to manage the Astrid and Matt’s expectations.
In January, the West Hill Community Association (WHCA) will host its Winter Quarterly Meeting, a 90-minute community catch-up that promises to include “quickfire reports from a variety of interesting local groups,” a preview of upcoming local events and activities, information about the new King County Department of Local Services, and more.
WHCA is a nonprofit organization powered by volunteers elected by the very community it works for: the King County, Washington neighborhoods of Bryn Mawr, Campbell Hill, Earlington, Hilltop, Lakeridge, Panorama View, Skycrest and Skyway (situated between Renton, Tukwila and Seattle) known collectively as “West Hill.”
By Matthew Gardner, Chief Economist, Windermere Real Estate
Matthew Gardner, Chief Economist, Windermere Real Estate
What a year it has been for both for the U.S. economy and the national housing market. After several years of above-average economic and home price growth, 2018 marked the start of a slowdown in the residential real estate market. As the year comes to a close, it’s time for me to dust off my crystal ball to see what we can expect in 2019.
Despite the turbulence that the ongoing trade wars with China are causing, I still expect the U.S. economy to have one more year of relatively solid growth before we likely enter a recession in 2020. Yes, it’s the dreaded “R” word, but before you panic, there are some things to bear in mind.
Firstly, any cyclical downturn will not be driven by housing. Although it is almost impossible to predict exactly what will be the “straw that breaks the camel’s back”, I believe it will likely be caused by one of the following three things: an ongoing trade war, the Federal Reserve raising interest rates too quickly, or excessive corporate debt levels. That said, we still have another year of solid growth ahead of us, so I think it’s more important to focus on 2019 for now.
Photo/Rainier Valley Food Bank
Dear friends,
My office—Windermere Mount Baker Real Estate—is gearing up for our annual Winter Food Drive benefiting Rainier Valley Food Bank (RVFB), a South Seattle nonprofit dedicated to a hunger-free Rainier Valley, and we’d love your help.
Did you know?
You can bring your contributions (see list below) to the Windermere office (4919 S Genesee St., Seattle, WA 98118/206-725-7255) from January 21 through February 28, or contact me for pick-up.
In the meantime, Rainier Valley Food Bank (4205 Rainier Ave S, Seattle, WA 98118) will happily accept your generous donations now. Thank you!
4802 SW Hinds St.
Seattle, WA 98116
Listed at $825,000
This meticulously maintained and tastefully updated North Admiral split-entry will make your heart sing. Skylights bathe the kitchen and bath in light while the two fireplaces keep living spaces warm and cozy. The split floor plan provides spacious living with three bedrooms up and fourth bedroom/office down. The exterior is a low maintenance gardeners paradise; including a professional greenhouse and a beautiful in-ground pool. This home has it all, so get ready to move in and ring in the New Year!
Information provided as a courtesy only, buyer to verify. For more, go here.
We’ve enjoyed Friendsgiving with this great group for more than 20 years! Can you guess which bald white guy is me?
Dear friends,
As many of you know, Alan and I recently returned from a 10-day whirlwind cruise through London, France, Spain, and Portugal—a truly once-in-a-lifetime opportunity that left us both filled with good food, great memories, and a profound sense of gratitude for all the beauty, diversity and kindness that the world has to offer.
And as happy as we were to travel the open ocean and explore some of the world’s most beautiful ports, returning home to our sweet pugs, Dylan And Dexter and the fall colors of the Pacific Northwest was a gift in and of itself.
Believe it or not, I’m even happy to get back to work! I am honored to have helped 18 families achieve their life goals and start fresh this year and am lucky to do it with an amazing support team that makes what I do look easy.
I am honored to have helped 18 families achieve their life goals and start fresh this year.
In fact, I currently have two active listings, a thoughtfully updated Beacon Hill home, and a bright, spacious town home perfectly nestled between the desirable Mount Baker and Columbia City neighborhoods.
I’m also proud to report two recent closings, a private end-unit condo in Westwood Village that sold for $273,000, and a sweet two-bedroom Craftsman set on a big corner lot across from Kubota Gardens that sold with four offers at 6% over list price for $422,250. Finally, I expect this large, upscale Capitol Hill condo to close by the end of the month.
Thanks to everyone who has joined and supported me in my life’s work. Your trust is a gift, and I’m so grateful for your friendship and referrals. Please enjoy a wonderful holiday season and a prosperous 2019!
Warmly,
Don
(206) 250-7291
donkoonce@windermere.com
This is the house in 2018 as it was being sold to its new owners. Congratulations, Michael, Donica & kids!
Michael and Donica Byers were first-time home buyers when we began working together in 2015. We toured home after home for months with no success, and they were getting restless. Donica was pregnant, it was a HOT summer, and she seemed miserable. I felt so bad for her.
Then, one day we were touring available homes and it occurred to me to show them one I had just recently listed. I didn’t really think it was right for them, but was grasping at straws by this point. They didn’t say much while we were there, so I assumed that it wasn’t the right house for them.
But the next say, while I was there hosting an open house, they returned on their own with some family members and stayed for quite a while. I was shocked when they announced that they wanted to make an offer.
That said, I don’t do dual agency sales, so I referred them to my trusted friend and colleague Dorothy Driver. I knew there would likely be multiple offers, and that Dorothy could help them win.
Sure enough, the house got three offers, and the Byers got their first home.
Not long after, Donica had twins.
Despite being busy with not one but two new babies, Michael and Donica made some fantastic improvements to the house, such as a new bathroom, new plumbing, new wiring, new paint and landscaping.
Then last year, Donica had their third baby, and it was clear they had outgrown their two-bedroom house. Also, Donica got a job in Port Townsend, so they decided that it was time to make the move.
This is the house in 2015 when Michael & Donica first bought it (before kids).
They hired me to help them sell their house, and I stopped by to help them assess what they needed to do to prepare the house for the market. They worked really hard getting things ready, all the while caring for their three young children. I don’t know how they did it!
Once they moved to Port Townsend, I helped them manage contractors, inspectors, house cleaners, window washer, and more, since they were too far away to keep running back to Seattle.
Just as we were about to go on the market, three other similar neighborhood listings hit the market. I toured the other properties to assess if their price, condition, and location to help us develop a pricing strategy. We considered waiting to list until one of the others (the most serious competitor of the three) went under contract, but Michael and Donica decided against it.
Their house hit the market on a Friday, I held open houses on Saturday and Sunday, and we had four offers by Sunday afternoon. Michael and Donica chose a buyer who could close in two-weeks, and next thing we knew, the offers escalated to almost 6% over list price, even in our slowing market.
Michael and Donica were thrilled with the results and will soon be searching for their new Port Townsend abode. Congratulations, all!
Do you need help selling your home in this intense market? My mission is to help you achieve your life goals. Contact me today at 206-250-7291 or donkoonce@windermere.com.
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