© Mariko Mitsui Real Estate

Volume 9 2017 Issue“A ugust real estate activity described asboth “robust and “stagnant”
The latest numbers from Northwest Multiple Listing Service show there
are both cooler spots and hot spots, with the demand for housing and prices
showing few signs of being extinguished.
Pending sales area-wide during August totaled 11,867 transactions, barely
exceeding the number of new listings (11,781) added during the month. At
month end, there were 15,987 total active listings in the MLS database, ashrinkage of 12.8 percent from a year ago.
Sparse inventory is a likely factor in the flat pending sales, with yearover-year pending sales for all areas down .09 percent (11,867 versus
11,878). Of the 23 counties in the Northwest MLS report, 15 had fewer
mutually accepted offers last month compared to twelve months ago. Lastmonth's total was up slightly from July's figure of 11,800.
Changing seasons will likely mean a drop-off in listing activity, noted J.
Lennox Scott, who was upbeat on summer sales. "It's been our best summer
ever for sales activity with June, July and August clocking in a record
number of transactions," said Scott, the chairman and CEO of John L. Scott.
He credits strong job growth and attractive interest rates ("the lowest
they've been since last November") with propelling sales.

Amazon's footprint in Seattle is more than twice as large as any othercompany in any other big U.S. city. Amazon now occupies more officespace than the next 40 biggest employers in the city combined. Its
footprint of 8.1 million square feet is expected to grow to more than 12
million square feet within five years.

B reakouts! – Residential SOLD Average
August 2017 (King/Snohomish/Pierce County) SOLD Average
Area (Area Code)Average $Average $2017 VS

August 2017 August 2016201613.57%

Auburn-Federal Way (110-310)$396,988$ 349,563

Kent-Maple Valley (320-340)
West Seattle (140)$$464,793
636,971$ 410,510$ 599,913

SODO-Beacon Hill (380-385)$691,692$ 558,203

6.18%
23.91%

E.lake-Madison-Capital Hill (390)$ 1,134,931$ 863,910

31.37%

Queen Anne-Magnolia (700)$ 1,110,081$ 1,004,571

10.50%

13.22%*Belltown-Downtown Seattle(701) $745,905$ 951,758-21.63%

Ballard-Greenlake (705)$836,867$ 675,937

23.81%

North Seattle (710)$894,846$ 735,474

21.67%

Shoreline/Richmond Beach (715)$706,741$ 530,087

33.33%
36.41%

Bellevue Downtown (520)$ 3,360,915$ 2,463,804"It's still a frenzy market in the more affordable and mid-price ranges," hesaid, while also noting the luxury segment continues to outpace last year'smarket "in a huge way."

Mercer Island (510)$ 1,636,663$ 1,570,450

4.22%

Bellevue South-Newcastle (500)$ 1,030,364$ 860,038

19.80%

Renton Highlands-Downtown (350) $587,418$ 506,062

16.08%

System-wide, 3,727 single family homes have sold for more than amillion dollars during the first eight months of the year, surpassing last
year's total of 2,456 such sales during the same time frame - a jump ofnearly 52 percent.

Microsoft-Bellevue East (530)$928,224$ 819,709

13.24%

Kirkland Downtown (560)$ 1,180,566$ 981,403

20.29%

Redmond (550)$862,830$ 789,0629.35%

Issaquah-Sammamish (540)$900,658$ 804,535

11.95%

With further drops in inventory likely during the fourth quarter, Scott andothers expect sales will continue at a quick clip.

Juanita-Bothell-Woodinville (600)$772,620$ 674,757

14.50%

Bothell North-Mill Creek (610)$658,471$ 562,228

17.12%"As we head into fall, September and October will see new listing
inventory drop by about 20 percent from the summer months, so the next
two months will be the best opportunity for selection and availability forbuyers to purchase a home," Scott suggests. "Starting in November, thenumber of new listings will drop by another 30 percent over the winter," headded.

Edmonds-Lynnwood (730)$550,944$ 494,484

11.42%

Everett-Mukilteo-Snohomish (740) $480,308$ 434,386

10.57%

Commenting on rising prices - up 8.3 percent across the MLS service area
– Mike Grady, president and COO of Coldwell Banker Bain said, "Ofcourse, that old law of supply and demand has its natural effect." The trend
is consistent throughout the MLS service area, he noted, adding, "WithKing County prices escalating at such a fast rate (up 17 percent), the ripple
effect will continue to push prices throughout the area, first in neighboring
counties, then throughout the region."

Research shows that 79% of home buyers consider a Home Warranty
key in decision making.

Listings
NewHomes & Condos Listings

Total

Closing Sales
Pending

ActiveR ead the Fine Print in Home Warranties

But home warranties can vary widely.
For instance, “preexisting conditions” in your home are excluded
from coverage. Common dilemmas, such as rust and corrosion areusually prohibited for the first 30 days. Mold? Not covered.
If you examine your home warranty carefully, you will see that you
must call the warranty company BEFORE a breakdown is fixed andtake pictures. This will help strengthen your claim.

Market Activity Summary for August 2017

Single Family*Condominium SOLD Average# ofAverage

MedianClosings

PricePriceKing

3,933

3,329

4,003

3,571

$700,066$585,000

Snohomish

1,886

1,830

1,885

1,648

$460,490$430,000

Pierce

1,959

2,555

2,123

1,763

$341,579$306,000

Total

7,778

7,714

8,011

6,982

$500,712$440,333

T he biggest company town in America
Amazon's extraordinary growth has turned Seattle into the biggest
company town in America, according to a report by the Seattle Times.
Amazon now occupies a mind-boggling 19 percent of all prime officespace in the city, the most for any employer in a major U.S. city.

So why a Home Warranty? A well-written warranty actually serves avery useful purpose as long as it is not a substitute for routine home
maintenance. It is design for major repairs, not the everyday
headaches.

Gina Brown (NMLS#115337)

Weekly Primary Mortgage Market Survey® (PMMS®)

Mortgage Specialist /Mortgage Capital Associates

September 18, 2017425-766-5408
gina@gmgloan.com
www.loansbygina.com

A verage Rates

Regional Breakdown

Fees & Po ints
A PR

30-Yr
FNM A
3.875%

30-Yr
FHA
3.25%

15-Yr
FNM A
3.00%

5/1
A RM
3.00%

*All loans are wit h a one point originat ion f ee.

4.004%

4.512%

3.224%

3.122%** Owner Occupied / Single Family Residence
740 credit score and 20% down payment for conventional
640 credit score and 3.50% down payment for FHA