At a glance for this week > a note on appraisals + Ballard gets a new neighbor + Gardner Report Q2 + 2016 Art Fair + we become the Seahawks 12th man – at least one of them! Go Hawks + Go Windermere, let’s recap this week and prep for next…
Delayed appraisals…a market driven condition.. | Multiple stories this week of possible delays in closing based on appraisals not being done (in some cases, not even started for weeks) – and I am not simply referencing stories of aggressive buyers with quick closings! Let’s face it, appraisers are very busy (purchase + refinance business) – we have hit a very real volume issue and appraisers are having to turn down orders. I’ve heard of appraisers being booked out through August. That said, set expectations with your clients and get looped in early with Lender on what they are seeing. This issue may come and go, yet in the immediate be aware of it and be proactive. A “rush order” may or may not help, I’ve been told. I spoke with one appraiser today, he is getting 30 appraisal requests per day! ***Keep in mind, appraisers are part of our team to get this done. They too are human and can only handle so much volume. Looks like patience + setting expectations will need to be key ingredients in our success.
Our Ballard office gets a new neighbor! | Tomorrow’s groundbreaking celebration at the site of the New Nordic Heritage Museum will officially kick-off the public campaign in funding. This morning I had the opportunity to hear all about the vision for this new museum – one that will act as “a bridge to the contimpory Nordic culture.” This is the only museum in the U.S. that represents all 5 Nordic countries. I am awestruck in both the plans and vision for this new site! It will live directly across the street from our Ballard office – fun for us all – a new community gathering spot. Interested to learn more or support? Click here for more! There will be a stunning auditorium for 400 people – I already have visions for a 2018 Windermere kick-off hosted here – thinking ahead!
2016 Q2 “science” | Our second-quarter Western Washington Gardner Report is now available to digest + share with your people. Click here for the Q2 report – featuring a new map graphic that helps readers understand the region’s home sale trends at a glance. A couple quick snapshots below as teasers from the full report.
Annual change in Home Sale prices | Q2 2015 – Q2 2016…
CONCLUSIONS | no surprises here, although consistent talking points as you continue to educate our local market…
“This speedometer reflects the state of the region’s housing market using housing inventory, price gains, sales velocities, interest rates, and larger economics factors. For the second quarter of 2016, I am leaving the needle in the same position as last quarter. Inventory levels have improved, albeit modestly, and price growth has slowed very slightly. However, this is offset by a jump in pending sales, a slightly higher number of closed sales, and a drop in interest rates. As such, the region remains staunchly a seller’s market.” – Matthew Gardner, WRE Chief Economist
2016 Seattle Art Fair | It’s right around the corner – aka, next weekend! Our sponsorship allows you to pass along complementary one-day tickets to your clients. Want to quickly grab tickets for you or your people – click here.
- 11am-7pm | Friday, Aug 5
- 11am – 7pm | Saturday, Aug 6
- 12pm – 6pm | Sunday, Aug 7
Your office has all you need to make the invite!
I’m IN! | Soon “blue Fridays” will take over in Seattle and our six offices will be ready! I’ve just ordered each of our offices our official partnership flag that we can proudly display in support of our partnership with our Seahawks and our #tacklehomelessness campaign. For every home game tackle that the Seahawks make, Windermere is donating $100 to YouthCare, a non-profit organization that provides services and support to homeless youth. I’m IN!
That’s a wrap for this week, prepping for next. Here to help, just ask.
…and oh yes, our Windermere boat hit the waters for our second practice on the waters of Lake Washington. A quick peek at our winning team. Two more practices and then…we race @ Summer Splash, Aug 20th.
Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.