the
FEBRUARY 2017
Volume 8 | Issue 2
EYE ON THE
market
The beginning of 2017 continues in a manner similar to 2016: Low inventory numbers are making it more attractive for sellers to enter the market, but for the same reason, sellers are balking at giving up their current residence. For those sellers who decide the time is right, new listings are getting immediate attention from buyers ready to make an offer on a home. Recent interest-rate hikes have not deterred well-qualified buyers in our region. Despite the low inventory, sales of single-family homes in December were up 4.71 percent in King County, three-quarters of a percent in Snohomish County and an impressive 11.29 percent in Pierce County compared with this same time period last year. This year is expected to mirror last year in another way: The spring market is
LOCAL predicted to heat up in February again this year. Buyers are not expected to wait for the temperatures to rise to begin their home search in earnest. As recently reported in The Seattle Times, there are nearly 10,000 rental units coming online in 2017 (and at least that many more in 2018). Market analysts predict this will help alleviate some of the pressure on the existing resale inventory and lead to a more balanced market overall. Incoming new residents attracted to the region by our healthy job market may have housing options not seen in the last couple of years. As some give up looking for a home and choose to rent, buyers who stay the course should enjoy some breathing room this year. Overall, brokers expect another exciting year, but with its own set of challenges.
springtime FIRST IMPRESSIONS If you’re planning an open house, here are a few tips that will help make a great first impression:
ALL OVER THE HOUSE: Consider removing personal photos from display Wastebaskets are empty Dust and vacuum Window blinds are open Lights are on Calm music is playing BEDROOMS: Beds are nicely made Dirty clothes are out of sight Toys are put away BATHROOMS: Non-essentials are out of sight Shower and tub are clean Towels are folded neatly Toilet lid is down
KITCHEN: Sink is clear of any dishes Countertops are clear of toaster, coffee maker, etc. Clean range and microwave LIVING ROOM: Pillows/cushions are tidy TV screen is dusted Pets: Food bowls are put away Litter and cages are clean YARD: Yard is tidy for time of year Walkway/doorstep is swept Outside lights are on Outdoor toys and tools are put away
happenings
1-4 Seattle Boat Show (begins 1/27) seattleboatshow.com 3-4 Arlington-Stillaguamish Eagle Festival | arlingtonwa.gov 4 Lunar New Year at the Bellevue Collection bellevuecollection.com 10 Hearts & Wine in Sodo firstharvest.org 10 I Love Kirkland February Wine Walk kirklanddowntown.org 10 Wine & Chocolate in Tacoma metroparkstacoma.org 11 Chocolate Tasting at Country Village in Bothell countryvillagebothell.com 11 Valentine’s Run on Ruston Way in Tacoma metroparkstacoma.org 11 Winter Sip & Stroll Gig Harbor gigharborwaterfront.org 11 Sweetheart Wine Walk in Sumner sumnerdowntown.com 16 Marysville Blues & Brews marysvillewa.gov 18-26 Seattle Home Show seattlehomeshow.com 22-26 Northwest Flower & Garden Show in Seattle gardenshow.com 23-26 Wintergrass Music Festival in Bellevue wintergrass.com 24-26 The Seattle Wine and Food Experience seattlewineandfoodexperience.com
February
IMPORTANT DATES
Thursday, February 2 Groundhog Day
Tuesday, February 14 St. Valentine’s Day
Sunday, February 5 Super Bowl LI (51)
Monday, February 20 Presidents Day (observed) CW & Counties are closed
Sunday, February 12 Lincoln’s Birthday
TAX TIPS & Due date of return File your tax return by April 18, 2017. The due date is Tuesday, April 18, instead of April 15, because of the Emancipation Day holiday in the District of Columbia. Standard deduction For 2016, the standard deduction for head of household filing status has increased to $9,300. The other standard deduction amounts are unchanged. Electronic Filing PIN Electronic Filing PIN, an IRSgenerated PIN used to verify your signature on your self-prepared, electronic tax return, is no longer available. To validate your signature, you must use your prior-year adjusted gross income or prior-year self-select PIN. Cash payment option There is a new option for taxpayers who want to pay their taxes in cash.
Tuesday, February 28 Mardi Gras/Fat Tuesday
updates Standard mileage rates The 2016 rate for business use of your vehicle is 54 cents a mile. The 2016 rate for use of your vehicle to get medical care or to move is 19 cents a mile. Check your refund status You can check Where's My Refund on IRS.gov (IRS.gov/refunds) after you file for a projected deposit date. Where's My Refund and the IRS2Go phone app allow you to check the status of any refund. The information in this article was compiled from the IRS Publication “Your Federal Income Tax For Individuals” on January 17, 2017. There may be other changes that affect you this tax season. Please consult a tax accountant or visit the IRS websites listed below for complete details on tax credits and deductions. www.irs.gov/pub/irs-pdf/p17.pdf www.irs.gov
MORTGAGE RATES through the years 2016 mortgage rates were the lowest in history and remain at historic lows! Check out the data for 30-year fixed-rate mortgages since 2000. It’s still a great time to enter the market!
(Yearly average interest rate on 30-year fixed-rate mortgages) Data from freddiemac.com
Volume 8 | Issue 2
VALENTINE’S GIFT ideas Gifts for Parents: Homemade gifts from the kids Make A Plate Kit (at craft stores) Stepping Stone Kit (at craft stores) Canvas prints of their little angels Ideas: water pics for bathroom, messy pics for laundry room, etc. (canvaspress.com) Day at the spa or salon Monthly housecleaning for a year Round of golf at a favorite course Full car detailing (check local shops) On the “Free” Side: Free Day: You take their chores, while they take off! Garden Crawl: Spend the day visiting local gardens Movie/TV Marathon: Binge-watch their favorite flicks or TV shows! Game Night: Invite other couples over for a night of board game fun! Day Hike with Picnic (Bring blankets!) Online: etsy.com findgift.com kotulas.com gifts.com
personalcreations.com perpetualkid.com canvaspress.com uncommongoods.com
Classes (Check community colleges for classes): Cooking classes Couples’ cooking classes Wine tasting classes Pottery classes Photography classes
Year
High Monthly Low Monthly Average Average
Yearly Average
2016
4.20 (Dec)
3.44 (Jul & Aug) 3.65
2015
4.05 (Jul)
3.67 (Jan & Apr) 3.85
2014
4.43 (Jan)
3.86 (Dec)
4.17
2013
4.49 (Sep)
3.41 (Jan)
3.98
2012
3.95 (Mar)
3.35 (Dec)
3.66
2011
4.95 (Feb)
3.96 (Dec)
4.45
2010
5.10 (Apr)
4.23 (Oct)
4.69
2009
5.42 (Jun)
4.81 (Apr)
5.04
2008
6.48 (Aug)
5.29 (Dec)
6.03
2007
6.70 (Jul)
6.10 (Dec)
6.34
2006
6.76 (Jul)
6.14 (Dec)
6.41
2005
6.33 (Nov)
5.58 (Jun)
5.87
2004
6.29 (Jun)
5.45 (Mar)
5.84
2003
6.26 (Aug)
5.23 (Jun)
5.83
2002
7.01 (Mar)
6.05 (Dec)
6.54
2001
7.16 (Jun)
6.62 (Oct)
6.97
2000
8.52 (May)
7.38 (Dec)
8.05