Lynn Sanborn
Lynn Sanborn
Realogics Sotheby's International Realty
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Tips for Year End Giving!

Posted on December 27, 2013

Happy Holidays!!

I hope you have been enjoying a great holidays season and have a very fun New Years planned!!


 As most who know me know, I am very into giving back to the community and especially to homeless families. I wanted to share this great link to tips of year end giving for 2013.



http://www.irs.gov/uac/Newsroom/IRS-Offers-Tips-for-Year-End-Giving-2013#!

Wishing you all a healthy and prosperous 2014.
Lynn

15% Rise in King County Housing!

Posted on November 11, 2013

The median price of single-family homes sold in King County last month rose to $426,000, a 15 percent increase over the year.

After a remarkable frenzy of homebuying in early summer sent the median price to $434,000 in July, the highest level in five years, October’s activity showed a more balanced market, with more inventory for sale.

Buyers closed on 2,187 homes, 10 percent more than in the previous October, the Northwest Multiple Listing Service (MLS) reported Tuesday.

While extremely tight inventory drove bidding wars in spring, October was the first time this year that inventory of single-family homes was higher than a year earlier.

In King County, there were 4,575 single-family homes listed, 6 percent more than a year earlier. In the condominium market, there were 1,133 units listed, 8 percent more than a year ago.

The Eastside, as usual, had the highest median price in King County: It was $575,377, up 14 percent from a year ago. Southwest King County had the lowest median price at $240,000, about 7 percent higher over the year.

Pending sales are where the shutdown’s impact would have shown up, but it’s hard to tease that out from other possible causes, said Glenn Crellin, associate director of research at the Runstad Center for Real Estate Studies at the University of Washington.

Regionally, inventory remains tight: King, Snohomish and Pierce counties all have less than three months’ supply, the MLS reported.

A balanced market generally has enough supply for four to six months.
 
So, the increase is expected to continue!

Home prices in most metropolitan areas grew significantly in the third quarter, with the national median price rising at its fastest annual clip in nearly eight years, according to the National Association of Realtors (NAR).

During the same period, existing homes sold at the fastest annual rate recorded in more than six years, according to NAR’s latest quarterly report on metro area median prices and affordability.

Despite the robust price growth, NAR estimated that potential buyers still had adequate income in most areas to purchase a home in the third quarter. Nonetheless, market momentum is changing, according to Lawrence Yun, chief economist at NAR.

“Rising prices and higher interest rates have taken a bite out of housing affordability,” Yun said. “However, we have the ongoing situation of more buyers than sellers in the market, so lower sales will help to take the pressure off home price growth and allow them to rise slowly at a single-digit growth rate in 2014.”

The national median existing single-family home price increased by 12.5 percent year over year to $207,300 in the third quarter, the strongest year-over-year gain since the fourth quarter of 2005 when it shot up 13.6 percent, according to the trade group.

In the second quarter, the median price reportedly rose 12.2 percent year over year.

- See more at: http://www.inman.com/2013/11/06/home-prices-post-highest-annual-gain-in-nearly-8-years/#sthash.8XLrp2Sg.dpuf

Home prices in most metropolitan areas grew significantly in the third quarter, with the national median price rising at its fastest annual clip in nearly eight years, according to the National Association of Realtors (NAR).

During the same period, existing homes sold at the fastest annual rate recorded in more than six years, according to NAR’s latest quarterly report on metro area median prices and affordability.

Despite the robust price growth, NAR estimated that potential buyers still had adequate income in most areas to purchase a home in the third quarter. Nonetheless, market momentum is changing, according to Lawrence Yun, chief economist at NAR.

“Rising prices and higher interest rates have taken a bite out of housing affordability,” Yun said. “However, we have the ongoing situation of more buyers than sellers in the market, so lower sales will help to take the pressure off home price growth and allow them to rise slowly at a single-digit growth rate in 2014.”

The national median existing single-family home price increased by 12.5 percent year over year to $207,300 in the third quarter, the strongest year-over-year gain since the fourth quarter of 2005 when it shot up 13.6 percent, according to the trade group.

In the second quarter, the median price reportedly rose 12.2 percent year over year.

- See more at: http://www.inman.com/2013/11/06/home-prices-post-highest-annual-gain-in-nearly-8-years/#sthash.8XLrp2Sg.dpufTEST

Home prices in most metropolitan areas grew significantly in the third quarter, with the national median price rising at its fastest annual clip in nearly eight years, according to the National Association of Realtors (NAR).

During the same period, existing homes sold at the fastest annual rate recorded in more than six years, according to NAR’s latest quarterly report on metro area median prices and affordability.

Despite the robust price growth, NAR estimated that potential buyers still had adequate income in most areas to purchase a home in the third quarter. Nonetheless, market momentum is changing, according to Lawrence Yun, chief economist at NAR.

“Rising prices and higher interest rates have taken a bite out of housing affordability,” Yun said. “However, we have the ongoing situation of more buyers than sellers in the market, so lower sales will help to take the pressure off home price growth and allow them to rise slowly at a single-digit growth rate in 2014.”

The national median existing single-family home price increased by 12.5 percent year over year to $207,300 in the third quarter, the strongest year-over-year gain since the fourth quarter of 2005 when it shot up 13.6 percent, according to the trade group.

In the second quarter, the median price reportedly rose 12.2 percent year over year.

- See more at: http://www.inman.com/2013/11/06/home-prices-post-highest-annual-gain-in-nearly-8-years/#sthash.8XLrp2Sg.dpuf

Home prices in most metropolitan areas grew significantly in the third quarter, with the national median price rising at its fastest annual clip in nearly eight years, according to the National Association of Realtors (NAR).

During the same period, existing homes sold at the fastest annual rate recorded in more than six years, according to NAR’s latest quarterly report on metro area median prices and affordability.

Despite the robust price growth, NAR estimated that potential buyers still had adequate income in most areas to purchase a home in the third quarter. Nonetheless, market momentum is changing, according to Lawrence Yun, chief economist at NAR.

“Rising prices and higher interest rates have taken a bite out of housing affordability,” Yun said. “However, we have the ongoing situation of more buyers than sellers in the market, so lower sales will help to take the pressure off home price growth and allow them to rise slowly at a single-digit growth rate in 2014.”

The national median existing single-family home price increased by 12.5 percent year over year to $207,300 in the third quarter, the strongest year-over-year gain since the fourth quarter of 2005 when it shot up 13.6 percent, according to the trade group.

In the second quarter, the median price reportedly rose 12.2 percent year over year.

- See more at: http://www.inman.com/2013/11/06/home-prices-post-highest-annual-gain-in-nearly-8-years/#sthash.8XLrp2Sg.dpuf

Home prices in most metropolitan areas grew significantly in the third quarter, with the national median price rising at its fastest annual clip in nearly eight years, according to the National Association of Realtors (NAR).

During the same period, existing homes sold at the fastest annual rate recorded in more than six years, according to NAR’s latest quarterly report on metro area median prices and affordability.

Despite the robust price growth, NAR estimated that potential buyers still had adequate income in most areas to purchase a home in the third quarter. Nonetheless, market momentum is changing, according to Lawrence Yun, chief economist at NAR.

“Rising prices and higher interest rates have taken a bite out of housing affordability,” Yun said. “However, we have the ongoing situation of more buyers than sellers in the market, so lower sales will help to take the pressure off home price growth and allow them to rise slowly at a single-digit growth rate in 2014.”

The national median existing single-family home price increased by 12.5 percent year over year to $207,300 in the third quarter, the strongest year-over-year gain since the fourth quarter of 2005 when it shot up 13.6 percent, according to the trade group.

In the second quarter, the median price reportedly rose 12.2 percent year over year.

- See more at: http://www.inman.com/2013/11/06/home-prices-post-highest-annual-gain-in-nearly-8-years/#sthash.8XLrp2Sg.dpuf

Home prices in most metropolitan areas grew significantly in the third quarter, with the national median price rising at its fastest annual clip in nearly eight years, according to the National Association of Realtors (NAR).

During the same period, existing homes sold at the fastest annual rate recorded in more than six years, according to NAR’s latest quarterly report on metro area median prices and affordability.

Despite the robust price growth, NAR estimated that potential buyers still had adequate income in most areas to purchase a home in the third quarter. Nonetheless, market momentum is changing, according to Lawrence Yun, chief economist at NAR.

“Rising prices and higher interest rates have taken a bite out of housing affordability,” Yun said. “However, we have the ongoing situation of more buyers than sellers in the market, so lower sales will help to take the pressure off home price growth and allow them to rise slowly at a single-digit growth rate in 2014.”

The national median existing single-family home price increased by 12.5 percent year over year to $207,300 in the third quarter, the strongest year-over-year gain since the fourth quarter of 2005 when it shot up 13.6 percent, according to the trade group.

In the second quarter, the median price reportedly rose 12.2 percent year over year.

- See more at: http://www.inman.com/2013/11/06/home-prices-post-highest-annual-gain-in-nearly-8-years/#sthash.8XLrp2Sg.dpufTEST

Home prices in most metropolitan areas grew significantly in the third quarter, with the national median price rising at its fastest annual clip in nearly eight years, according to the National Association of Realtors (NAR).

During the same period, existing homes sold at the fastest annual rate recorded in more than six years, according to NAR’s latest quarterly report on metro area median prices and affordability.

Despite the robust price growth, NAR estimated that potential buyers still had adequate income in most areas to purchase a home in the third quarter. Nonetheless, market momentum is changing, according to Lawrence Yun, chief economist at NAR.

“Rising prices and higher interest rates have taken a bite out of housing affordability,” Yun said. “However, we have the ongoing situation of more buyers than sellers in the market, so lower sales will help to take the pressure off home price growth and allow them to rise slowly at a single-digit growth rate in 2014.”

The national median existing single-family home price increased by 12.5 percent year over year to $207,300 in the third quarter, the strongest year-over-year gain since the fourth quarter of 2005 when it shot up 13.6 percent, according to the trade group.

In the second quarter, the median price reportedly rose 12.2 percent year over year.

- See more at: http://www.inman.com/2013/11/06/home-prices-post-highest-annual-gain-in-nearly-8-years/#sthash.8XLrp2Sg.dpuf

Home prices in most metropolitan areas grew significantly in the third quarter, with the national median price rising at its fastest annual clip in nearly eight years, according to the National Association of Realtors (NAR).

During the same period, existing homes sold at the fastest annual rate recorded in more than six years, according to NAR’s latest quarterly report on metro area median prices and affordability.

Despite the robust price growth, NAR estimated that potential buyers still had adequate income in most areas to purchase a home in the third quarter. Nonetheless, market momentum is changing, according to Lawrence Yun, chief economist at NAR.

“Rising prices and higher interest rates have taken a bite out of housing affordability,” Yun said. “However, we have the ongoing situation of more buyers than sellers in the market, so lower sales will help to take the pressure off home price growth and allow them to rise slowly at a single-digit growth rate in 2014.”

The national median existing single-family home price increased by 12.5 percent year over year to $207,300 in the third quarter, the strongest year-over-year gain since the fourth quarter of 2005 when it shot up 13.6 percent, according to the trade group.

In the second quarter, the median price reportedly rose 12.2 percent year over year.

- See more at: http://www.inman.com/2013/11/06/home-prices-post-highest-annual-gain-in-nearly-8-years/#sthash.z8VaTdoD.dpuf

Kirkland Housing Market Slows A Bit!

Posted on September 16, 2013
Higher home prices, interest rates and low inventory impacted real estate sales activity in Kirkland in August. according to statistics just published by the Northwest Multiple Listing Service, pending sales (contracted, not yet closed) were down 7% for August compared to July.   However, pending sales were a significant 40% higher than they were in August one year ago.

The inventory level for single family homes remained at 1.8 months of supply, a low level and one which indicates we are still in seller's market.  The median price was slightly lower at $534,000. 

The condo market was a little stronger, with pending sales higher by 6% over July levels and 40% higher than one year ago.

Condo inventory edged  higher to 1.3 months of supply, but is at low levels.  The median condo price was slightly lower at $240,000.

It remains to be seen how the combination of higher home prices AND higher interests will impact Kirkland home sales.   I suspect it will slow the market to more of a normal pace.  Sellers will need to be a bit more patient and more realistic with prices.  The good news for buyers is there is less competition for homes and they are less likely to face multiple offer scenarios.

Waste Watchers Program for Kirkland!

Posted on June 6, 2013
Take the Waste Watchers Pledge.
Reduce your waste and your garbage bill.
This summer, the cities of Bothell, Kirkland, and Redmond are partnering with Waste Management to bring their residents a new waste reduction program called Waste Watchers.
 
To make a positive impact on the environment they are asking residents to take a pledge to reduce. Great ideas to share with your kids. Here are the ways you can make an impact:

RECYCLE MORE & SAVE MONEY

Review my city's Recycling Guide - Bothell, Kirkland, Redmond
--- (Guides are in Acrobat format)
Check out my city’s recycling events - Bothell, Kirkland, Redmond
Look in my garbage for recyclable items
Bring unwanted or expired medicines to a takebackyourmeds.org drop-off
Bring Household Hazardous Waste to a King County HHW drop-off
Use King County's 'What Do I Do With' website for more recycling options

WASTE LESS & SAVE MONEY

Bring reusable bags and containers when I shop
Use a reusable water bottle
Drink coffee from a reusable mug
Think twice before printing
Print double sided
Pack lunches in reusable containers and bring cloth napkins and silverware
Donate old magazines to charities, doctor's offices, hospitals, schools or
___my local gym

SHOP SMART & SAVE MONEY

Think twice before buying anything
Before making a purchase, consider how well a product is made and how many
___times I plan to use it
Check out garage sales, thrift stores, consignment stores and online exchanges
___before purchasing new items
Plan meals without waste
Shop at my local farmers market
Buy groceries in bulk quantities, using reusable containers
Opt out of unwanted junk mail, catalogs and phone books
Visit the King County Library to borrow books, magazines, DVDs, and CDs
 
Guess I better get those  reusable bags in my car. Let me know if you have other great things you do too!

High Mortgage Rates Will Help the Housing Market

Posted on March 28, 2013

FORTUNE – Mortgage interest rates have been rising on signs that the U.S. economy is improving. Last week, the 30-year fixed rate reached the highest level in more than six months, climbing to an average of 3.63%, compared with 3.52% the previous week and 3.92% a year earlier. The current rate is the highest it's been since the week of Aug. 23 when the 30-year fixed rate averaged 3.63%, according to Freddie Mac.

With economic prospects improving, rates could rise even higher this year. This increase could mathematically make buying a home more expensive, but it's unlikely to stall the housing recovery. To the contrary, higher rates could actually support it.

For the past few years, mortgage rates have sunk to new lows as the Federal Reserve continues to buy up hundreds of billions of dollars worth of bonds. The policy is meant to get everyone from investors to consumers to borrow and spend more. While it has driven many homeowners to refinance existing home loans, it hasn't spurred nearly as many mortgages for home purchases.  In 2012, refinances made up 71% of all mortgage originations, according to the Mortgage Bankers Association, a group that tracks mortgage rates and home loan trends.

Home sales last year rebounded more than most ever thought. Even if mortgage rates edged higher, the recovery could last for a few reasons.

For one, those who've been eyeing to buy a home may finally pull the trigger once they realize that borrowing is still cheap and it would be wise to lock in today's mortgage rate rather than wait and see where rates could fall tomorrow or months from now, says Andrea Heuson, finance professor at the University of Miami. "It could bring serious purchases back to the market."

To be sure, the Great Recession has proven that mortgage rates have almost no influence over home prices. And so the sustainability of the housing recovery will depend more on factors such as jobs growth than the cost of taking out a home loan.

If anything, slightly higher rates could reflect that slightly more risky borrowers are being offered credit following years of tighter lending standards. And this could be a good thing, says Barney Hartman-Glaser, real estate finance professor at Duke University.

"Although important, rising interest rates alone are not enough to slow down the housing recovery," says Hartman-Glaser, adding that "my sense is that underwriting standards are getting easier to satisfy, and so we would expect rates to rise as slightly more risky borrowers are brought into the fold."

However borrowers interpret higher rates, the increase ultimately reflects an improving economy. Which, in turn, is something that would support the housing recovery rather than stall it. Investors have increasingly turned to riskier investments since the start of the year. The  stock market has reached new highs, making bonds look less attractive and therefore pushing mortgage rates higher.

Heuson adds the rise in mortgage rates coincides with growing demand for loans across U.S. businesses – a marked turnaround from the dark days of the financial crisis and subsequent economic recession. At the end of January, commercial and industrial loans stood at more than $1.5 trillion, up more than 12.5% from a year earlier. What's more, the current level is more than 75% above the low point of $870 billion in mid 2004, according to Federal Reserve statistics.

"From that perspective, the recent increase … bodes well for the future of the U.S. economy," Heuson says, adding that when businesses borrow more, that will typically boost the economy in all kinds of ways, from spurring jobs growth to raising consumer confidence.

And last but not least, it could encourage more home sales.

Helping Families in Need!

Posted on February 5, 2013

I wanted to share one of my passions with you. That is helping families in my community that are homeless or in financial crisis. I am the Redmond Windermere Office Foundation Rep and am the VP on the board of KITH- a non-profit charity. Both help families who find themelves in these situations. Please join me in helping these families, some that are living on the streets, some are living in their cars or couch surfing. Yes, these are people all over the Eastside. Did you know there are 27,000 students who are registered as homeless? And that the on Jan 24th volunteers discovered 2,736 people that were homeless throughout King County. That is up 142 from last year, and the 2012 count was on a clear night. This does not include the shelters or tent cities. So much work yet to be done...

Join us March 8 for the 4th Annual Fighting Homelessness Luncheon to benefit KITH programs helping homeless families gain stability and self-sufficiency.
Register today at www.kithcares.org/news/luncheon-reg.htm. Thank you to presenting sponsor Fix Auto Bellevue, Honoray Chair King County Councilwoman Jane Hague, Emcee KING5 Television Traffic Anchor Tracy Taylor, keynote speaker Dr. Joseph Castleberry, author Your Deepest Dream and President of Northwest University, and KITH client speaker Solomon Metalwala, father of Maile and Sky.

For more info or to register go to:
http://www.kithcares.org/news/luncheon.htm

Thanks you so much for anything you do to help people in need in our community!

More Blog Entries
Homlessness A Huge Issue In Our Community! - Posted on January 27, 2013
Energy and Money Savers! - Posted on January 16, 2013
13 Good Signs for 2013! - Posted on December 27, 2012
Safety Tips For The Holidays! - Posted on December 4, 2012
Find the Perfect School for your Child! - Posted on October 30, 2012
2012 Remodeled Home Tour! - Posted on October 15, 2012
Fire Destroys KITH Building in Juanita - Posted on September 7, 2012
KITH Kids Back Pack Program! - Posted on August 2, 2012
Green-certified homes sell for 9% more, study in California finds - Posted on July 31, 2012
King Country strongest market in 5 years! - Posted on July 10, 2012
King County Wastemobile in Kirkland June 29-July 1 - Posted on June 19, 2012
Home buying at most affordable level in decades!! - Posted on May 21, 2012
Pending home sales near 2-year high - Posted on May 1, 2012
Earth day is April 22!! - Posted on March 25, 2012
Market Bottom of Cycle? - Posted on March 19, 2012
Windermere Foundation Fundraiser! - Posted on March 14, 2012
Seattle Ranks HIgh For Real Estate Investing! - Posted on January 23, 2012
New Home Sales Edge Up! - Posted on December 27, 2011
Reduce, reuse... - Posted on December 15, 2011
Winterize Your Home!! - Posted on November 28, 2011
 
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