What It’s Like Living In The Suburbs

A lot of ideas come to mind when someone mentions the ‘burbs. There are images of meeting your neighbor at the end of the driveway to pick up the morning paper, backyard grilling, and everyone walking their dogs. But preconceptions aside, it’s important to know the facts about the suburbs, especially when you’re home shopping. Every residential area has its own pros and cons, and the suburbs are no exception. Here’s what you should know.

Room To Stretch Your Legs

The obvious benefit of the suburbs is that the homes and yards that come with them are larger than what you’d find close to or in the city. More bedrooms, bathrooms, and storage means there’s plenty of room for your family, whether you’re just starting one or you’re moving with the kids. Larger yards give you a place to enjoy some fresh air that’s only a few steps away, and many yards will have mature landscaping depending on the age of the property. This extra space comes with the downside though of higher energy costs and lots of yard maintenance.

The Education

The suburbs are often home to top-notch schools, both public and private, and bus or car rides can be incredibly short depending on how close you live to the schools. Your children will also have the benefit of living close to their friends, so socializing may only be a walk or bike ride away. You’ll meet new families who can help you navigate the area and lend a hand when life gets extra busy. All this is great, just as long as your children fit in with the school district. If, for some reason, they need to transfer, your location could complicate the situation.

Bang For Your Buck

Unless you plan on moving to a famous or prestigious suburb, the odds are your property’s price will be a great deal for the amount of space you get. You also have easy access to the local school district and the peace of mind of a safer neighborhood, and these come with the property free of charge. You’ll always have a lot of flexibility if you ever decide to sell your home, since families are always looking to buy homes near schools and in quiet neighborhoods. You should be careful to remember though that this deal could become less sweet if you have to chase down contractors for repairs or renovations frequently.

A Local Community

In the suburbs, you’re bound to find countless little spots and businesses that make everyone in the community love where they live. Restaurants are passed down through families and become local traditions, and parks and trails let you change up the scenery of your life every once in a while. The suburbs will never be able to compete with the city’s bustling nightlife, but as long as you’re willing to drive a little bit, you’re never too far away from a memorable day or night out.

The suburbs are appealing to lots of people, whether you have a large family or not. Knowing if it’s the perfect fit depends on your needs. As always, it’s best to talk with an experienced real estate agent to find a home that will fill all those checkboxes.

Thinking about buying or selling a home?

I can help help make it easy and leave the stress to me. I’m just a phone call away let’s get together and talk about it.

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THE MARKET IS BLOOMING

• 

Running out of room and thinking about selling?

• Home values in 98466 have increased 15.2 % (↑) over the past 12 months.
• I predict the home values in 98466 will increase 7.8% (↑) in the next year.
• The average home is a 3 bedroom home with 2 baths in University Place.
• The average price for this ZIP code is $502,927.

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Current Market Report

With a booming housing market projected to go into the spring months, local real estate expert,
Frank Hawkins of Hawkins-Poe Real Estate, Fircrest WA, along with Northwest MLS experts provide input on how March is shaping up for potential buyers and sellers.
Despite our chilly February weather, data shows that the market continues
to be hot, with residential inventory tight and median prices rising by double-digit across most of our counties. Northwest MLS figures show brokers
added a similar number of new listings of single-family homes and condos
last month (7,418) as compared to a year ago (7,786), for a difference of
368 properties. This was down 4.7%. For residential units (excluding condos),
there was a 6.8% year-over-year drop. Total active listings of single-family
homes declined nearly 44% from a year ago. The selection of single-family
homes fell more than 51% while condo inventory rose 7.9%. “A decline
in listing volume this year should not surprise anyone,” according to James
Young, director of the Washington Center for Real Estate Research at the
University of Washington. “We are virtually sold out of inventory everywhere
in the Central Puget Sound area.”
There are only about three weeks of supply of inventory in the MLS database, which covers 26 counties. For residential only (excluding condos), the
shortage is more pronounced at less than 3 weeks supply. For the tri-county
area encompassing King, Pierce and Snohomish counties, the MLS report
shows there were 4,896 pending sales in January and 5,232 sales in February
for a month to-month gain of 6.9%.
Freddie Mac reported an average rate of 3.02% for a 30-year fixed-rate

mortgage for the week ending March 4. That’s up five basis points from the previous week, and the first time since July 2020
that the benchmark mortgage rate climbed above 3%. Despite rates edging up and inclement weather during much of
February, eight counties in the Northwest MLS report showed year-over-year gains in pending sales: Adams, Douglas, Grant,
Kitsap, Lewis, Pacific, San Juan, and Walla Walla. System-wide, there were 7,724 pending sales in February, a year-over-year
drop of 7.5%. Compared to January when brokers reported 7,394 sales, the pending sales volume increased 4.5%.
Northwest MLS member-brokers reported 5,812 closed sales during February for a 10.4% increase over the year-ago total
of 5,265 closings. The median price on last month’s completed sales jumped more than 15% from a year ago, increasing from
$445,000 to $512,000. Twenty of the 26 counties in the report showed double-digit year-over-year price gains. “Even though
interest rates have ticked up a bit, they continue at near historic lows. interest rates, jobs, and lifestyle changes continue to
drive the real estate market,” stated Frank Hawkins, Designated Broker of Hawkins-Poe. He also noted an uptick in multiple
offers.
As Brokers with Hawkins-Poe Real Estate, we are working hard to help prepare buyers both emotionally and financially for
the realities they face and to help position them as the winning purchaser. With COVID-19 restrictions opening up, and open
house restrictions eased to allow more people at one time, our Brokers are also spending a good amount of time preparing
sellers to become comfortable with having people in their homes and to safely facilitate viewings. We are also managing and
analyzing all the offers.
“March historically marks the beginning of an eight-month primetime real estate market. After an intense winter in the local
real estate market, more new resale listings should be on the horizon. The positive, optimistic mood is unmistakable, and I’m
expecting that to continue through the summer as vaccines roll out, and things continue opening up,” concluded Hawkins.
For more information on buying or selling your home and preparing for the competitive market ahead, contact me today
to find out how I can best serve you.“

March 2021 | Hawkins-Poe Real Estate

https://lesliesellshouses.com/

Is This the Year to Sell My House

Is This the Year to Sell My House

If one of the questions you’re asking yourself is, “Should I sell my house this year?” consumer sentiment about selling today should boost your confidence in the right direction. Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why.

According to the latest Home Purchase Sentiment Index from Fannie Mae, 57% of consumer respondents to their survey indicate now is a good time to buy a home, while 59% feel it’s a good time to sell one:

“The percentage of respondents who say it is a good time to sell a home remained the same at 59%, while the percentage who say it’s a bad time to sell decreased from 35% to 33%. As a result, the net share of those who say it is a good time to sell increased 2 percentage points month over month.”

As you can see, many still believe that, despite everything going on in the world, it is still a good time to sell a house.

Why is now a good time to sell?

There simply are not enough homes available to meet today’s buyer demand, and they’re selling just as quickly as they’re coming to the market. According to the National Association of Realtors (NAR), unsold inventory available today sits at a 2.3-month supply at the current sales pace, which is down from a 2.5-month supply from the previous month. This record-low inventory is not even half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory to balance out.

With so few homes available for buyers to choose from, we’re in a true sellers’ market. Homeowners ready to make a move right now have the opportunity to negotiate the best possible contracts with buyers who are feeling the pull of intense competition when it comes to finding their dream home. Lawrence Yun, Chief Economist for NAR, notes how quickly homes are selling right now, further confirming the benefits to sellers this season:

“The market is incredibly swift this winter with the listed homes going under contract on average at less than a month due to a backlog of buyers wanting to take advantage of record-low mortgage rates.”

However, this sweet spot for sellers won’t last forever. As more homes are listed this year, this tip toward sellers may start to wane. According to Danielle Hale, Chief Economist at realtor.com, more choices for buyers are on the not-too-distant horizon:

“The bright spot for buyers is that more homes are likely to become available in the last six months of 2021. That should give folks more options to choose from and take away some of their urgency. With a larger selection, buyers may not be forced to make a decision in mere hours and will have more time to make up their minds.”

Bottom Line

If you’re ready to make a move, you can feel good about the current sentiment in the market and the advantageous conditions for today’s sellers. Contact a local real estate professional today to determine the best next step when it comes to selling your house this year.

https://lesliesellshouses.com/

https://www.keepingcurrentmatters.com/2021/01/07/is-this-the-year-to-sell-my-house/