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Welcome October! |
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TD's take on the housing market, long term interest rates and more. Financial markets have been in a rut most of 2022. The stock market is down over 20% and mortgage rates have more than doubled since this spring. The housing market accelerated 20% from the beginning of 2021 to March of this year. At last check, the housing market median home price in the PNW is approximately where it was 1 year ago. Bottom line, most homeowners are in good shape when it comes to the equity in their home. While it is possible that home values may decrease further in the short term, the long term of the PNW housing market is incredibly solid mostly due to the dynamics of low supply and high demand. While housing starts and permits are up this year in King County, there is still not enough new housing in the pipeline to satisfy this high demand. And Seattle has been experimenting with up-zoning in many areas to allow for higher-value projects or more dense use of land. Looking to rent? 2022 has seen rents rise by double digit percentage increases, and they aren't coming down anytime soon. A 3 bedroom is $4200 in Bellevue, $4080 in Sammamish, $3270 in Ballard, $3170 in Magnolia/Queen Anne and $2900 in West Seattle & Normandy Park. PRO TIP! Watch the yield on the 10 year Treasury. When that yield starts coming down (like it has significantly in the last 2 days) it may be time to think about locking down a rate to buy a home. And if you are a home seller, that number is very important to your potential buyers. That's TD's POV - have a question on your specific situation? We're here to help you navigate this volatile housing market. Read on for more housing news, seasonal insights and tips |
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Real Estate in the News |
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How Are the Suburbs Faring in the Housing Market Cooldown? |
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Some former darlings of the local real estate market are still showing signs of robust price growth. Others are dipping as interest rates rise. |
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Tips & Trends |
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Spruce Up Your Home This Fall |
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Take a look at this article to see what nine interior designers are saying will be the new and existing trends for Fall 2022. Our favorites include adding a pop of color and layering fabric textures. |
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Decorative Gourds |
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Add a bit of spice to your fall decor with a piece of Manolo glass featured at Des Moines newest shop Marina Mercantile! Mr. Aguilera has been a member of the artist team responsible for helping to produce Dale Chihuly's amazing glass art since 2004 but he is a sought after artist in his own right. Watch him at work on Youtube and learn more about him at Manolo Glass. |
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Halloween Haunted Houses |
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Halloween is just around the corner. That means haunted houses will be coming back in full swing. We found an article on the top 13 scariest haunted houses in the US. Turns out we have one right here in Washington. Be sure to check out the Georgetown Morgue's Haunted House this October! |
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Word Around Silverstar |
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Legendary Sushi Chef Expands to Bellevue |
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We love sushi and are very excited about the big opening of the year in Bellevue, a hush-hush, three-year project in the making from star chef Shiro Kashiba, is finally unveiled, as he gives his star pupil a stage to showcase his fish prowess at the new Takai by Kashiba.
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Corn Mazes & Pumpkin Patches Whether you're looking for a maze or a pumpkin patch, the Seattle area has many options for you to choose from. Join the countless families and friends partaking in these fun October traditions. |
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U-Pick Apple Picking Everyone should try apple picking this fall. Here are seven farms within 3 hours of Seattle where you pick your own apples. |
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