It’s Friday, let’s sweep! | #20years + a long weekend

Six,

Welcome to Friday! FWL has started in on a long weekend with my family – digestible bites will be back at it next week! Until then – what you should know…

… our fearless Eastlake manager, Michael Nelson is celebrating 20 years today at Windermere! He is truly one of Windermere’s #bestofthebest and I am beyond grateful to be working with him. Twenty years and counting! Cheers Michael, we’ll be celebrating very soon!

Ps, Michael sporting one of his favorite shirts and showing us what he does best…

Back next week with content and another sweep of yet another productive + fun week together. Until then, I’ll be right here with my people taking a pause…

Happy Friday six!

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Ballard + Eastlake + Madison Park + Northgate + Sand Point + Wedgwood

It’s Friday, let’s sweep! | a tattoo + Q3 + The Zillow Group + a save the date!

Six,

Welcome to Friday! This week was full and good. Lots to share, plenty to digest. Let’s get this going and dig right in…

What quickly rose to the top of my sweep this week was an article shared with me by broker, Barbara Brandt from our Wedgwood office. This article hits home in articulating our value. Another angle on cost vs value. I found the article spot on however the imagery now tattooed in my brain – not one I’ll forget. Click here and see if this too will be tattooed in your brain!

Our Q3 Seattle Market Report is a wrap! Created for you as another tool in your toolbox. Your offices have the ISSUU digital link and PDF versions. This report will also be featured in our Nov 1st Client Newsletter. A quick snapshot of how it turned out!

 

“Real Estate is not only one of the most significant components of our economy, it also directly influences how we live, work, shop and play.”  – Runstad Center for Real Estate Studies | University of Washington

This week I attended the University of Washington Annual Runstad Center Leadership Dinner. Frankly, I didn’t entirely know what I was showing up to. Thank goodness I threw on a dress + heals for the evening – it was that kind of affair along with 800 others all suited up. The room was filled with the “whose who” in what appeared mostly in the commercial sector, current and alumni  Runstad students along with key local real estate influencers.

I came for the keynote speaker: Amy Bohutinksy, Chief Operating Officer, Zillow Group who was there to share with us pieces of The Zillow Group’s Report on Housing Trends.

Indeed the world has massively changed and The Zillow group has been working to understand us – the consumers and our changing needs.  The outcome has been a giant research project – asking 13,125 consumers – buyers, sellers, homeowners, renters …lots and lots of questions. The entire report resides here for you should you be looking for some light reading (warning: not light at all – 180 pages!)

Want to skip the 180 pages and instead digest a few bites? Here you go. Ps, I have to wholeheartedly admit, these are not new ah-ha’s for many of us. It’s what we are seeing and experiencing. I promised a summary – so here you go…digest what you’d like!

The first time homebuyer in the market. We still very much have a healthy parentage of first time homebuyers in our market – with monthly rents so expensive. 25% of first time homebuyers are putting less than 5% down.

Truth: Data shows that “yes” Millennials (age: 18-37) indeed want & believe in homeownership. On average Millennials are buying later than previous generations.  62% of Millennial Buyers are “dual tracking” simultaneously shopping homes for sale and for rent. Data shows…

Myth: Americans are on the move. On average, Americans move 11 times in their lifetime. Truth: people that sold their home in the last year had been on average in that home 12 years. Data continues to show people are staying in their home longer.

Truth: The vast majority of people still very much work with a real estate broker. 86% of buyers & sellers work with a broker. This % has not changes over the past decade despite having access to so much information.

Truth: Seattle’s real estate market is the hottest market in the nation right now.

Interesting digestible “bite”: over 100 Bay Area companies have satellite offices in Seattle. The secret is out: talent is here in Seattle.

It was certainly an entertaining night for me. Lots of praise was given to the Jacobi family for Windermere’s contributions and the impact that has made in helping The University of Washington celebrate the new Real Estate Department and on a whole, become one of the largest university real estate faculties in the country. My dinner date was one of those faculties, Matthew Gardner – our very own chief economist. Question: Have you ever been to the battle of the barristers event (you know, the event where 5 real estate attorneys hash out a topic?). Ok, now – imagine having dinner next to a chief economist who is listening to a keynote focused on data! Like I said, interesting + entertaining! Many ways to evaluate #’s and data.

 

 

Next week I’ll be taking a sweep of all highlights and “bites” from Inman’s Luxury Connect in Beverly Hills where 55+ Windermere brokers from all over our network spent the last couple of days together. Inman was again very pumped to have such a large group represented again. Lots to be share – will let you know what content filled these seats!

Ok, that’s a wrap. In continued partnership with you & loving it. Have a fantastic weekend in productive work + play! Here to help, the ultimate goal. And oh, a reminder to SAVE THE DATE – see below. We are planning serious fun this year – Casino Night should be a blast! Be there.

Laura Smith, General Manager | Windermere Real Estate Co.

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Ballard + Eastlake + Madison Park + Northgate + Sand Point + Wedgwood

 

 

It’s Friday, let’s sweep! | the passing of John Demco + #’s worth knowing + double down

Six,

Before we sweep this week, an important item of news to share with you. We have lost a good one this week as John Demco passed away. There will be a tribute posted soon on Demco’s website. For now, I’ll take a soundbite from attorney, David Daniel…”Cheers to keeping the Demco train rolling strong in his honor.” Exactly.

Ok, on the real estate front this week it’s time to sweep September #’s as we continue to bring the heart of a teacher to our marketplace. Seattle & Eastside full color reports are complete and are now posted on Windermere Statistics. password: wreoctober (not case sensitive)

For reports and a full set of talking points click here.

SEPTEMBER MONTHLY TALKING POINTS
Seattle (based on Residential and Condominium report):

• The market continues to move fast, yet continue to educate and set realistic expectations with Sellers – specific to their micro market.

> Months Supply of Inventory slightly down from this time last year to 0.8 (1.0 September 2016) – historically obviously still very low. (page #1)

> The percentage of closed sales selling for above list price was 53% in September (page #3) – this is slowly trending down > (56% August, 58% July, 65% June)

> Slightly over 75% of the homes that sold were on the market for less than 15 days. Keep in mind however that 25% of homes that sold were on the market for over 15 days. Continue to set realistic expectations with Sellers. (page #5)

• Seattle’s inventory remains as tight as ever, with homes being snapped up in days. A big hiring push by local employers keeps adding to the pressure. With supply dwindling and demand soaring, prices had only one place to go – up. In September, the median single-family home price in Seattle soared 15 percent over a year ago to $725,000.

• Based on normal seasonality, Buyers should be encouraged to try and buy this month or by the end of the year rather than waiting until January. Buyers should consider three things:

1) Can they afford the monthly payments?

2) Do they like the location?

3) Are they going to live in the house for a minimum of five years?

Question: Laura, where do you host your Double Down podcasts?

Answer: All episodes (#1-5) are hosted on the homepage of my website. Episode #6 has been recorded this week, currently in the editing phase and will be released soon! Descriptions of each podcasts have been included on my newly Tuned Up website. Click the microphone below, scroll down on my homepage and take your pick! Always there for you as convenient to you. I’m having a blast with my mobile studio. More to come.

That’s a wrap, sweep complete for this week! Have a fantastic wrap to your week and launch into a productive weekend of work + play. Here to help, that is the ultimate goal.

In partnership with you,

Laura Smith, General Manager | Windermere Real Estate Co.

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Ballard + Eastlake + Madison Park + Northgate + Sand Point + Wedgwood

It’s Friday, let’s sweep! | “best of the best”

Six,

Welcome to Friday! What an awesome week. 800 people strong at our WRE Symposium. Heck, I believe I had 7 states represented in my classes! I had a blast teaching and more importantly was reminded that we are surrounded by the “best of the best” in our industry.  A digestible bite from Peggy Frasse from our Eastlake office…

On the Symposium experience… “This App is fantastic. All the content, slides and info, immensely valuable for this visual learner. These classes, everything. Thank you for Symposium. Its knocking the message our of the park and helping us all to be reminded of things we have forgot along the way of living, working and being. Grateful, joyful and amplifying. – Peggy”

…and ready for you today is Episode #Five of my Double Down podcast where Kirstin Munger (Seattle/Eastlake office) and Greg Lewis (Seattle/Ballard office) joined me as we prepped last week for our 2017 Buyer-Savvy Strategies class. Kirstin and Greg share a few of their go too tools + processes in working with Buyers in any marketplace. Bottom-line – the key take away: have a process and make it consistent. Enjoy the conversation and tools! Episode #5 is 33 minutes.

Episode Five

…and what I learned this week in teaching at Symposium mirrors the fine wisdom of Seth Godin – couldn’t say it better myself! #alwayslearning #growthmindset #playingtogether

Teaching Others Scales Right Back to Us

“If I give you a bag of beans, I won’t have any more beans. Beans are scarce. If I teach you to throw a Frisbee, I’ll still know how to throw one.  And you will, too. The game is infinite if we choose it to be. Once more of us know how, we’ll be able to play together.”

Teaching rewards us all Seth Godin

In partnership with all of you, I am grateful.

Laura Smith, General Manager | Windermere Real Estate Co.

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Ballard + Eastlake + Madison Park + Northgate + Sand Point + Wedgwood