It’s Friday, let’s sweep! | Episode #7 Double Down podcast

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

Episode #7, Double Down podcast is ready to roll! In 34 minutes, David Daniel (Demco), Chip Painter (VP, Windermere Services) Mark Hobbs (Eastlake assistant manager, the King of Standards of Practice!) and I digest our first legal bites of the year and set the table in a deeper dive into Windermere Standards of Practice. And oh, a bit on Zillow too! Tap the image below and tune-in!

Stay curious my friends,

Laura Smith, General Manager | Windermere Real Estate Co.

FridaysWithLaura_Web Banner R3

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

It’s Friday (ok, Saturday), let’s sweep! | staying curious

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

Six,

Yes, it’s Saturday – not Friday – the result of a long week spilling into Saturday morning. That happens! It was a good week – hope yours was too.

This week I’d like to share a conversation I had with a peer in our industry with respect to the power and importance of staying curious. 

On staying curious…what I notice is those that stay curious are successful. Those who stay curious stay relevant. To give a good example, I’ll again highlight Sol Vilarreal and his  incredible weekly habit in building his Civic Minute (weekly mailchip newsletter to his sphere). I asked Sol what a few of his favorite resources are in building his Civic Minute and staying curious…

(…and thank you Sol for your willingness to share!)

Most of Sol’s weekly real estate content comes from either The Seattle Times, Curbed Seattle, Seattle Bubble, the Puget Sound Business Journal.

Sol’s “Civic” content usually comes from:

The local section of the Seattle Times

Erica C. Barnett at The C is for Crank

Heidi Groover, Sydney Brownstone, and Steven Hsieh at The Stranger

Crosscut

Seattle Weekly (Sol’s found Twitter to be the best way to get their local politics articles)

Joel Connelly at the P-I

Publicola

And speaking to curiosity – sure interesting this week to follow Amazon’s reveal in their Top 20 cities still in the running for HQ2 – fascinating! The reveal here!

How might you stay curious in 2018? What habits will you create to stay curious? What will you read? What will you listen to?

That’s a wrap for this week! Next week, FWL will feature Episode #7 Double Down podcast – with David Daniel (Demco), Chip Painter (VP, Windermere Services) and Mark Hobbs (Eastlake assistant manager and the King of Standards of Practice. We’ll dive into our first legal bites of the year and set the table in a deeper dive into Standards of Practice. And oh, a bit on Zillow too!

Stay curious my friends,

Laura Smith, General Manager | Windermere Real Estate Co.

FridaysWithLaura_Web Banner R3

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

It’s Friday, let’s sweep! | 13,249,843 sq ft + the “science” + money in your pocket + computation of time (mlk)

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

Six,

Let’s jump right in and take a sweep of this week!  WRE Builder’s Breakfasts started back up again with keynote Matthew Gardner “speeching” (as he likes to say!) and yes, typically doing so in really cool socks. My favorite visual from his slides – this one. What do you notice? As he was speaking directly to both Seattle growth and unemployment rate he shared this graphic. I’d certainly say that this is a pictorial view of just that, growth and employment. Can you imagine how many jobs that will need to fill that Amazon square footage alone?! Had to share…

“The Science” | Windermere Stats updated

Click here for full reports | password: wrejanuary

…and a few digestible bites from the NWMLS statistical report:

NWMLS reports…
Within the Puget Sound region, King County registered the sharpest escalations at nearly 16 percent. Year-over-year prices jumped from $505,000 to $585,000.
 
For single family homes in King County, the hike was similar (about 15.5 percent), rising from $550,000 to $635,000 at year end.
 
The median home price in Seattle proper was up 14.2% from December of 2016 to December of 2017 to close the year at $725,000, below its peak for the year of $748,500 last July.
 
Condo prices surged 28 percent in King County over the past twelve months, from $315,000 to $402,000. During the same year-over-year period.
Custom Express
I was excited to read this week that we have improved pricing and quantities for several products within Custom Xpress.
You’ll find improved pricing and quantities for the following select products:
small and large sized postcards, 11×17 brochures, and 1-sided and 2-sided flyers. 
Here are the key changes:
Pricing has been reduced by 10 to 25 percent. Love that!
Required minimum order quantity for the select products has reduced from 50 to 25 pieces.
Additional quantity tiers have been expanded out to include deeper discounts on bulk orders.

Martin Luther King Day | Offices Closed this Monday.

Computation of Time

When computing time for the purchase and sale agreement, please regard Monday, January 15th as a legal holiday. Martin Luther King Day is a legal holiday under Washington law.

That’s a wrap for this week! Have a productive weekend in work + play – here to help – the ultimate goal. 206.227.7133 c – if you don’t yet have me plugged into your contacts!

In partnership,

Laura Smith, General Manager | Windermere Real Estate Co.

FridaysWithLaura_Web Banner R3

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

 

It’s Friday, let’s sweep! | a bird’s eye view of Seattle’s growth + new email security measures + kcm resources: new tax code

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

Six,

Welcome to 2018 everyone! I’m going to jump right in…before we get back to business, a fun bird’s eye view of Seattle’s growth. In January 2015, a 360 webcam was installed on top of the Space Needle. Since then, it has taken a 360 panorama of the whole city every 10 minutes! Curious to take a look? This really is a remarkable birds eye view. Click here.

Let’s begin to unzip a New Year together…FWL will again be dedicated to bringing you weekly fresh relevant content – created to easily digest so that we can continue to educate the people that lean on us for our advisory. #wearewindermere #2018 #gameon

On Monday, January 8th Windermere will begin to introduce New Email Security Measures. Please watch for these updates! Recently, Windermere, and the industry as a whole, has experienced an increase in attempts to access email accounts for the purposes of phishing scams and wire fraud. With your help, and advancements in technology, we now have the ability to significantly improve Windermere’s security in order to protect us from fraudulent activity. First communication will be in your inbox this Monday!

Next item of business as we jump into 2018. The New Tax Code.

The below is taken directly from KCM.  The team at Keeping Current Matters is doing an excellent job of creating a Tax Reform Reference Page. If you are not a KCM member, see your office staff for this resource. Most recently a 12 minute video has been posted to KCM –  “The New Tax Code and It’s Impact on Residential Real Estate.”

Ps, you can email, call or text me for this resource as well.

As Steve Harney likes to say, “It’s not good news. It’s not bad news. I’m just reporting THE news.”  KCM.

What about the three major concerns of real estate practitioners?


1.  Mortgage Interest Deduction

There was concern that the mortgage interest deduction (MID) would be eliminated. That didn’t happen.

However, the bill has made the following changes:

  • Reduces limit on deductible mortgage debt to $750,000 for new loans taken out after 12/14/17 (from the existing $1,000,000). Current loans up to $1 million are grandfathered.
  • Homeowners may refinance mortgage debts existing on 12/14/17 up to $1 million and still deduct the interest, so long as the new loan does not exceed the amount refinanced.
  • Repeals deduction for interest paid on home equity debt through 12/31/25.
  • Interest is still deductible on home equity loans if proceeds are used to substantially improve the residence.
  • Interest remains deductible on second homes, but subject to the limits.
2.  State and Local Taxes (SALT)

There was concern that the state and local tax deduction (which includes property taxes) would be eliminated. That didn’t happen.

The final bill allows an itemized deduction of up to $10,000 for the total of state and local property taxes and income or sales taxes.

3.  Exclusion of gain on sale of a principal residence

There was concern that owners would now need to live in their house for at least 5 out of the last 8 years to claim this exemption. Under the former tax framework, a typical owner, who has lived in their house for at least 2 years out of the last 5 years, would pay nothing in capital gain taxes if they sell the house.

No change. The new code will remain the same as the old.

As we continue to educate ourselves on the New Tax Code, let’s keep this very much top of mind: most families consider homeownership an essential part of the American Dream, and don’t purchase a home based solely on the tax advantages. #keepthisperspective

That’s a wrap for this week, we’ll do it again next week!

In partnership,

Laura Smith, General Manager | Windermere Real Estate Co.

FridaysWithLaura_Web Banner R3

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