| MY NEWSLETTERS | | |
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Sophia McDonald
Associate Broker John L. Scott(206) 683-0089
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Click here
to download a .PDF of "Why Now is a Smart Time to Buy," compliments of Sophia McDonald | |
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WHY NOW IS A SMART TIME TO BUY
Courtesy of Sophia McDonald / John L. Scott
Current as of January 2008 |
Dear Sophia,
Considering all of the negative press the housing market received in late 2007, it's more important than ever for buyers to know the facts when deciding upon a time to buy a home. With so much information from so many different sources, we at John L. Scott Real Estate have produced an objectively researched and written white paper to help home buyers assess the facts of the current real estate market.
Entitled "Why Now is a Smart Time to Buy," the white paper explains in simple-to-understand terms the past, present and likely future real estate markets, including the answers to such questions as:
- Are home values likely to fall?
- Are the subprime mortgage and foreclosure issues something to worry about?
- Will mortgage rates hold steady?
- With an increase in the number of houses for sale, how are home prices affected?
- Do national trends inevitably affect local real estate market conditions?
We hope you find the information in this white paper enlightening. And remember, if you are looking for a REALTOR to help you or any of your friends and family with thier real estate needs, we hope you will consider Sophia McDonald Real Estate team as your real estate resource.
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Click here to download a .PDF of "Why Now is a Smart Time to Buy," compliments of John L. Scott. |
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2007 is still among the highest years on record, with numbers of sales for both 2007 and 2008 projected to be even higher than the levels seen in 2002.
ABOUT INVENTORY =>
- FACT: The housing market is undergoing a natural cyclical correction.
ABOUT MORTGAGES =>
ALL REAL ESTATE MARKETS ARE LOCAL =>
FACT: Real Estate is localized and the Northwest is one of the strongest housing markets in the United States.
REAL ESTATE CYCLES AND ECONOMICS =>
FACT: Over the long-term, Real Estate has always appreciated in value.
BUY SMART IN TODAY'S MARKET =>
THE FACTS ADD UP: If you're in the market to buy, now is the time to "Buy Smart"
A number of factors have converged to make this the best buyers' market the Pacific Northwest has seen in years. ✔ Rates are back where they were before the market turned, making monthly mortgage payments affordable.
✔ There is a wide selection of housing inventory, which is good news for buyers who now have even more properties to choose from to find the right home.
✔ Homeowners in it for the long-term nearly always come out ahead in building wealth.
✔ It's a good time to take advantage of a strong local economy.
✔ Home sales have slowed, giving buyers an advantage.
✔ NOW is a great time to Buy Smart! |
I appreciate you continued support and your every referral and always treat my clients with respect, care and professionalism. Thank you for thinking of me and trusting me with your real estate needs. 
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Sophia McDonald
Associate Broker John L. Scott(206) 683-0089
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|
Click here
to download a .PDF of "Why Now is a Smart Time to Buy," compliments of Sophia McDonald | |
|
WHY NOW IS A SMART TIME TO BUY
Courtesy of Sophia McDonald / John L. Scott
Current as of January 2008 |
Dear Sophia,
Considering all of the negative press the housing market received in late 2007, it's more important than ever for buyers to know the facts when deciding upon a time to buy a home. With so much information from so many different sources, we at John L. Scott Real Estate have produced an objectively researched and written white paper to help home buyers assess the facts of the current real estate market.
Entitled "Why Now is a Smart Time to Buy," the white paper explains in simple-to-understand terms the past, present and likely future real estate markets, including the answers to such questions as:
- Are home values likely to fall?
- Are the subprime mortgage and foreclosure issues something to worry about?
- Will mortgage rates hold steady?
- With an increase in the number of houses for sale, how are home prices affected?
- Do national trends inevitably affect local real estate market conditions?
We hope you find the information in this white paper enlightening. And remember, if you are looking for a REALTOR to help you or any of your friends and family with thier real estate needs, we hope you will consider Sophia McDonald Real Estate team as your real estate resource.
| _______________________________________ |
|
Click here to download a .PDF of "Why Now is a Smart Time to Buy," compliments of John L. Scott. |
|
_______________________________________ |
|
|
2007 is still among the highest years on record, with numbers of sales for both 2007 and 2008 projected to be even higher than the levels seen in 2002.
ABOUT INVENTORY =>
- FACT: The housing market is undergoing a natural cyclical correction.
ABOUT MORTGAGES =>
ALL REAL ESTATE MARKETS ARE LOCAL =>
FACT: Real Estate is localized and the Northwest is one of the strongest housing markets in the United States.
REAL ESTATE CYCLES AND ECONOMICS =>
FACT: Over the long-term, Real Estate has always appreciated in value.
BUY SMART IN TODAY'S MARKET =>
THE FACTS ADD UP: If you're in the market to buy, now is the time to "Buy Smart"
A number of factors have converged to make this the best buyers' market the Pacific Northwest has seen in years. ✔ Rates are back where they were before the market turned, making monthly mortgage payments affordable.
✔ There is a wide selection of housing inventory, which is good news for buyers who now have even more properties to choose from to find the right home.
✔ Homeowners in it for the long-term nearly always come out ahead in building wealth.
✔ It's a good time to take advantage of a strong local economy.
✔ Home sales have slowed, giving buyers an advantage.
✔ NOW is a great time to Buy Smart! |
I appreciate you continued support and your every referral and always treat my clients with respect, care and professionalism. Thank you for thinking of me and trusting me with your real estate needs.
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| Making You Exceptional!
Sophia McDonald Real Estate Team
Our Latest Update
December, 2007- Issue 14 | |
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Have a Happy Holiday Season and Drive Carefully In Snow!
I appreciate you continued support and your every referral and always treat my clients with respect, care and professionalism. Thank you for thinking of me and trusting me with your real estate needs. 
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| Dear Denny, |
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The real estate market continues to struggle especially in other parts of the country. Today's hot markets can tell you a great deal about the value of your own housing investment.
If the economy's okay, your market will be too... You needn't worry about house prices collapsing if local industries are doing well. By merely reading the business section of the local paper, you get a sense of the economic climate.
...as long as speculators aren't dumping properties. If they are, your local market could be headed for a bubble pop.
Signs that investors are rife? FOR RENT signs lining the streets and no cars in the driveways at night. If you're buying a new home, make sure the developer restricts investors from buying up too much of the inventory.
Hot pockets exist even in chilly markets. Even après-bubble, prices in some neighborhoods will be on the upswing.
The laws of economics still apply. Cycles happen.
Five years ago it looked like fat year-to-year gains in home prices would continue forever. That assumption came crashing down earlier this year when a Standard & Poor's report showed that home prices in the first quarter had fallen for the first time in 16 years. That too will end. But since housing generally has a 10-year price cycle, you shouldn't rely on prices rising much for the next decade.
If you've owned a house for a while, you don't have to worry. The gains you've enjoyed in recent years are huge compared with recent price downturns. Until we meet face to face,
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| Latest Statistics |
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Where housing still sizzles |
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Prices steam ahead in these towns even as property values slide elsewhere in the nation. |
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1-yr price increase |
Median price |
Why it's hot |
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Wenatchee, Wash. |
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23.5% |
$238,900 |
An influx of retirees is buying up houses. |
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Salt Lake City |
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16.0% |
$233,100 |
A newly booming tech industry has drawn workers. |
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Grand Junction, Colo. |
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14.3% |
$217,000 |
The town's energy-industry work force is expanding. |
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Seattle |
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9.9% |
$395,300 |
A post-tech-bubble revival is under way. |
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Wilmington, N.C. |
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9.1% |
$272,000 |
The population is among the fastest growing. |
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U.S. national average |
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3.2% |
$223,800 |
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Source:Colorado Association of Realtors; National Association of Realtors; North Carolina Association of Realtors; Office of Federal Housing Enterprise Oversight; Washington Center for Real Estate Research. Prices are for the year ended June 2007 except for Wilmington's, which is a September 2007 average. |
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Lush price growth, still affordable |
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Prices in these metro areas increased more than the 3.2% national average in the past year. And they are relatively affordable, meaning that at least 40% of the homes could be purchased by a family with the median income for that area. |
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Ogden, Utah |
+15.2% |
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Albuquerque |
+9.0% |
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Austin |
+10.8% |
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Erie, Pa. |
+4.2% |
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Richmond |
+ 6.9% |
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Asheville, N.C. |
+10.9% |
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Charlotte, N.C. |
+8.6% |
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Beaumont, Texas |
+10.6% |
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Wilmington, Del. |
+5.2% |
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Raleigh, N.C. |
+ 7.1% |
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Source:NAHB/Wells Fargo Housing Opportunity Index; Office of Federal Housing Enterprise Oversight. | |
| Home Prices in Seattle Area |
With real-estate markets across the country reeling, Seattle-area homeowners may have a hard time getting any sympathy from distant relatives when they talk about how much the market has cooled off here.
After 2 ½ years of double-digit increases, King County's single-family home appreciation peaked early last year. But at 16 percent for the year, the increase in home prices for 2006 handily beat the previous five years' annual average: 9 percent. The same was true in the southern half of Snohomish County.So far this year, King County's appreciation rate has dropped to 13 percent.
It remains to be seen if the housing market is seriously cooling off or merely taking a breather before prices shoot up again.
The median price of a house in King County has climbed every year since 1985. The last time the housing market had two consecutive years of double-digit price appreciation - at 15.6 percent in 1989 and 28.9 percent in 1990 - was followed by five years of anemic growth.
Seattle-area prices will continue to climb this year and appreciation will "be above 5 percent. But hitting double-digit in 2007 may be somewhat difficult," said Lawrence Yun, the senior economist at the National Association of Realtors. |
| Neighborhood Profiles |
| Detailed information about homes in King and South Snohomish counties by neighborhood.
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| The housing boom? It's over, Realtors told |
 LAS VEGAS - The National Association of Realtors' annual convention started with a bang - literally - Tuesday morning when the nearby Frontier hotel imploded, sending up a huge plume of dust and making the ground shake.
It was a decent metaphor for the current state of the real-estate industry. The boom is over and the dust is now settling, Lawrence Yun, the group's chief economist, told the thousands of real-estate professionals meeting here.
This is the first year since the Great Depression to register a nationwide decline in median home prices, Yun said. His latest numbers put the drop at 1.7 percent. "We're in a time of fear," he said.
For 2008, Yun is predicting prices nationally will be flat, as buyers react to gloomy housing-industry news by sitting this one out.
But, as Yun said repeatedly, real estate is intensely local. National trends mean about as much to buyers and sellers in any one city as a national weather forecast would mean to them.
That's why things will be bad in some areas, such as Ohio, which has experienced significant job losses, and good in others.
Yun suggested Seattle will continue as one of the bright lights, which it's been this year. Median year-over-year home prices have risen every month save October, when they were down slightly.
But Seattle's strength may go beyond the usual reasons: a strong local economy and good job growth propelling housing demand.
Yun suggested that Seattle may be joining such cities as New York and San Francisco as "superstar cities" whose desirability attracts affluent newcomers who bring the buying power to continue pumping up housing prices.
In Washington, the group issued its ninth-straight downwardly revised monthly forecast, saying nationally existing home sales will fall 12.7 percent this year to 5.66 million, down from 6.48 million last year and the lowest level since 2002.
The group forecast sales will rise slightly next year to 5.69 million, but that is down from last month's prediction of 6.12 million.
Yun's forecast shows existing home sales bottoming out in the current quarter, then rebounding by mid-2008.
However, many other economists are far less optimistic. They predict weak sales, sinking new home construction and falling prices through next year and emphasize that those problems could worsen if the economy sinks into a recession.
The Realtors group said the median price for U.S. existing homes - the point at which half sold for more and half for less - will sink to $218,200 this year and remain basically flat next year at $218,300. In October, the median price for single-family homes in King County was $443,950. In Snohomish County last month, the median was $374,334.
If median prices on the national level fall this year, it will be the first price decline in the nearly 40 years that the trade group has tracked median prices.
Other ways to measure national housing prices, such as the S&P/Case-Shiller index, have already shown price declines.
By Elizabeth Rhodes erhodes@seattletimes.com> Seattle Times real estate reporter. The Associated Press contributed to this report. Copyright © 2007 The Seattle Times Company | |
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| Living Deliberately,
Sophia McDonald
Associate Broker
John L. Scott Real Estate
(206) 683-0089
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| Making You Exceptional!
Sophia McDonald Real Estate Team
Our Latest Update
November, 2007- Issue 13 | |
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I appreciate you continued support and your every referral and will treat them with respect, care and professionalism. Thank you for thinking of me and trusting me with your real estate needs.
(206) 683-0089
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| Dear Misha, |
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 2007 was a challenging year and I am sure not only for the real estate amd mortgage industry. I agree, the economy is not the same as 3-4 years ago, but the thing is - we are the same, better or much better than a few years ago!
I had a long way to get to the place in my life when I could sign with Living Deliberately quote. My life has changed, as soon as I took responsibility for my thoughts, life and actions. Moving from Europe to States few years ago made me to overcome my fears, expand my comfort zone and to focus on where I want to be vs. there I was. I believed that I will get the success I deserved. I saw, smelled, tasted in my mind very clearly the picture of my dream. I filled my life with belief into possibilities, focus, commitment and dream of Success, Happiness and Love.
Are there universal traits to the state of living deliberately or can it differ for each person?This is a timely one for me. Basically it breaks down into two parts: the life you want to lead and the life you are actually leading. The problem for most of us is that there is a disconnect between the two. The only way to get from one to the other is one small commitment at a time. Do you really know what you want? Do you want to live a life you want? Have you ever visualized it?
Are you in control of your life, your influences, and your connections?
Thoreau says it another way" to put to route all that is not life" Sometimes the best encounter you make is the one you choose not to make. Living deliberately and making deliberate choices doesn't exclude serendipity. Are you living with drive and purpose and urgency? If not - ask yourself the ultimate question - Who are you? and Why AREN'T you? Christian Deitrich (sp?) (remember him?) said once, "Life is a homework assignment due in forty years and we're all putting it off. Awareness of this sort also lends itself to greater peace in communicating with and understanding others.
This is a helpful thing for those of us who don't know yet what we actually want to DO with our lives (or for those of us who don't feel we have very fulfilling jobs). Each moment that we are aware can be fulfilling. Just stop, go back to your breath, and begin anew in mindfulness. This practices lends itself to amazing things. Since I've been practicing mindfulness, and stopping and being aware happens more frequently, I've begun to realize my habitual ways of thinking and reacting to things, ways that are probably not healthy ways of living. I pay much more attention to how I treat other people and how I treat myself. I think that this practice is not "just another spiritual practice" that works for some people and not for others. I think that mindfulness is for everyone, and can help everyone to become more peaceful. You just have to do it as much as you can, and hopefully be able to reinforce it by actual sitting meditation each day (even if only for 15 minutes). So maybe if you agree with me that practicing mindfulness is living deliberately, you won't be as hard on yourself for not meeting a deadline or messing up every once in a while. If you're mindful, then you can change, and grow, and become a better person.
Until we meet face to face,
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| PROPERTY TAXES DUE THIS WEEK |
 It's semiannual property-tax time again. If you pay your own taxes, you have until midnight Wednesday to get your payment postmarked and avoid delinquency charges.
If you've misplaced your tax statement, call you county treasury office to learn what you owe. It's important to pay on time because extensions are not given.
In King County, call 206-296-3850. For an automated line, call 206-296-0923.
In Pierce County, call 253-798-6111. For an automated line, call 253-798-3333.
In Snohomish County, call 425-388-3366.
In Kitsap County, call 360-337-7135.
Additionally, property-tax statements and information may be available online. The above phone numbers include information on how to access those counties' sites. |
| MARKET COMMENTARY |
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This should be a big week for economic data, headlined the October employment report.
On Tuesday, the Conference Board's consumer confidence index is expected to drop to 98.0 in October - pressured by higher oil prices and continued problems in the housing and mortgage markets.
On Wednesday, the Federal Open market Committee meeting ends, with financial markets expecting a 25 basis cut in both the federal funds and discount rates - but Halloween surprise is not out of the question (perhaps more than 25 basis points).
On Thursday, initial unemployment claims should rise to around 340,000 for the week ending October, 27th - indicating some modest weakening of the job market.
On Friday, payroll employment is projected to rise by 75,000, with the unemployment rate unchanged at 4.7 percent - indicating slow growth in the job market.
Mortgage rates drifted this week over market concerns about slower economic growth over the next number of months. How much housing will be a drag on the economy remains unknown and recent reports suggest regional manufacturing weakness in October.
Sales of existing family homes (excluding condominiums and co-ops) in September dropped tot he slowest pace in nearly a decade - since January 1998 - reflecting the effects of the credit tightening that occurred in August. Interest rates for 30 year fixed -rate jumbo loans rose to nearly a full percentage point above those for similar conforming loans by late August, resulting in sharp sales declines in the West and Northeast, which contain more high-cost area. From their peak February of this year, existing single-family sales fell 33 percent in the West and 29 percent in the Northeast, based on the latest report by the National Association of Realtors. |
| PREDICTING THE FUTURE OF REAL ESTATE |
Demographics serve as a useful and reliable research tool for many fields and industries, including marketing, entertainment, and even politics. David Lereah, the Chief Economist for the National Association of REALTORS® (NAR), says demographics can also reveal a lot about different real estate markets. In fact, David believes that demographics can help predict futureactivity in certain real estate markets, including, in some cases, home value and appreciation. The following are some examples of key demographic indicators:
"Baby Boomers" - The largest generation to date, members of this demographic have now reached their peak earning years. In areas with a greater number of Baby Boomers, expect
significant purchases of larger primary residences. In addition, Baby Boomers are likely to buy investment properties and vacation homes, leading to a substantial increase in property values for certain regions of the country.
Children of "Baby Boomers" - Born after 1980, this is the second largest generation to date. This age group has entered the workforce and is becoming established. In areas with large numbers of this demographic, look for sales of starter homes and condos to rise.
Immigrants - Different areas experience large influxes of immigrants at different times. It typically takes a full generation, however, for this demographic to begin buying homes and having an impact on local real estate markets.
Retirees - With advances in medicine and technology, we are living longer than ever before. In areas with large numbers of this demographic, or areas where retirees tend to move, expect inventories to drop and prices to rise.
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| DAYLIGHT SAVING TIME |
 Remember to turn BACK your clocks one hour! It is also a good time to change smoke detector batteries!
November 4th, 2007 2:00 am
Surprise! Daylight Saving Pushed Back One Week by 2005 Energy Conservation Act If you turned your clocks back one hour Sunday morning thinking it was the annual move back to Standard Time, all you succeeded in doing was moving into a new time zone. The move from Daylight Saving Time to Standard Time doesn't happen this year until the first Sunday in November, instead of the usual last Sunday in October. That means computer software, cellphones and other electronic equipment that is programmed to automatically change will have to be manually reset Monday morning back to Daylight Saving Time, then changed back one hour next Sunday.
President Bush in 2005 signed the Energy Conservation Act, which pushed back the time change in an effort to squeeze just a little more daylight
- and a bit of energy savings - into the daily lives of Americans. The legislation also changed the "spring forward" to Daylight Saving Time, which next year will be on March 9. Government estimates place the overall energy savings at just over 1 percent. | |
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Making You Exceptional!
The Latest Update from Sophia McDonald
September, 2007 - Issue 11 | |
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Dear Jeff,
It is only September and Valentine's Day still has a long way to go... but you will read about Cupid's arrows in this issue... it's NOT because I got married or got engaged. This time... I have some great news to share with you.
First, I am extremely excited and cannot wait to send you an announcement about the Grand Opening of my New Business this Fall. Please read what Megan Scott from The Associated Press wrote in her Article about me this month and you will find out what it is what is am going to do.
Second, I want you to know I am NOT leaving my real estate career, as Megan wrote in her article. I am staying pretty busy in this challenging market and will be very happy to help you or any of your friends with their real estate needs now and in the future.
Third, I just got back from sunny San Diego from a Mastermind Summit by Brian Buffini, a fantastic event I have been attending for the last 4 years. I filled my tank with fresh energy and got a clear vision of the bold, new, creative life and want to share with you an unbelievable Video Clip about Paul Potts to Fill Your Heart and Soul with Joyful Hope.
Fourth, I will give you a quick overview about what has been happening with the local real estate and mortgage market for the last couple of months. | |
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North / Central Seattle
South Seattle
Eastside
South King County
South Snohomish County
