Now that Washington State Senate Bill 5998 has been signed into law, our local real estate excise tax—the tax paid when you sell a property—will be getting a facelift in 2020. The flat rate of the past will make way for a new tiered system which gives owners a tax cut on the first $500,000 of home value, keeps the current tax rate on the next $1 million of value, and then increases it sharply after $1.5 million.

The good news is that taxes will go down for the vast majority (~93%) of sellers in King County. Sellers of luxury homes that fetch more than $1.56m, however, will be paying more—much, much more in the case of multi-million dollar home sales.

Wondering how the changes might impact your bottom line when it comes time to sell? Scroll down or check out our quick reference worksheet…

DETAILS & BACKGROUND

The previous flat state REET tax of 1.28% (1.78% after the 0.5% local portion is added) will be replaced on January 1, 2020, by the following rates (total REET after King County local portion is shown in parenthesis):

1.1% (1.6%) – Portion of selling price less than or equal to $500,000

1.28% (1.78%) – Portion of selling price greater than $500,000 and equal to or less than $1.5 million

2.75% (3.25%) – Portion of selling price greater than $1.5 million and equal to or less than $3 million

3.0% (3.5%) – Portion of selling price greater than $3 million

These thresholds may be adjusted again in 2022 and every four years after that using a formula for calculating value trends.

The current state real estate excise tax rate has been the same since July 1, 1989 while the local portion of the rate has been managed by each jurisdiction individually. You can find the full details in this Real Estate Excise Tax historical rates chart provided by the Department of Revenue.

The state provides a summary of the history and use of the real estate excise tax in Washington State detailing changes over the years. Currently, the bulk of the estate tax (92.3%) goes to the General Fund. Beginning January 1, 2020, and ending June 30, 2023, revenue distributions must be as follows: 1.7 percent must be deposited in the Public Works Assistance Account; 1.4 percent must be deposited in the City-County Assistance Account; 79.4 percent must be deposited in the general fund; and the remaining amount must be deposited in the Education Legacy Trust Account. Beginning July 1, 2023, and thereafter, revenue distributions to the Public Works Assistance Account increases to 5.2 percent. You can find the full law and definitions in Chapter 458-61A WAC (Washington Administrative Code).

SO WHAT’S THE BOTTOM LINE?

If you sell for $1,561,258 or less in King County, you will pay the same or less (up $900 less) in REET after 1/1/20. This is great news for most property owners in King County and across the state. Because the rate states the same on the portion of the selling price greater than $500,000 and equal to or less than $1.5 million as it currently is, all the savings comes in the portion below $500,000. This begins to whittle away as you creep above $1.5 million and into the higher tax rate of 2.75% (3.25%).

If you sell for more than that amount, you’ll be paying more–often much more. You can see from the quick reference chart below that the seller of a $2.5 million property will pay an additional $13,800, while a $5 million sale will cost an extra $55,550 and a $10 million sale a whopping $141,550 more.

Everyone will have a different take on the new tax rate, but if you have a valuable property and contributing more to the state’s coffers isn’t part of your charitable giving strategy, selling in 2019 might offer significant savings. On the other hand, selling in 2020 and beyond funds education and public works at greater levels than ever before, and that benefits everyone.

EXCISE TAX QUICK REFERENCE WORKSHEET

MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2019, Windermere Real Estate/Mercer Island. Originally posted on Windermere Mercer Island’s “Local in Seattle” blog.

Hosted in our Parking Lot:

2737 77TH AVE SE
MERCER ISLAND

Bring your recyclable items (working or not) to the event. All recycling services are free!

We’re also sponsoring a Confidential Data Disposal truck for free, secure shredding of sensitive documents.

Saturday, May 18th
9 am – 2 pm

What we can recycle:

We cannot accept the following:

ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2019, Windermere Real Estate/Mercer Island

Be forewarned, this quarter’s report looks somewhat dismal. There are two very relevant facts that should be taken into consideration when reviewing it. The first is that Q1 is nearly always the worst performing quarter of any year because the sales completed in Q1 typically went under contract between late November and the end of February—a notably quieter time of year in our seasonal Seattle market.

The second aspect to consider is that Q1 of 2018 was an atypically strong quarter and likely marked the peak of the current real estate cycle as buyers approach this year’s spring market with cautious optimism rather than the reckless abandon that we witnessed in the first four months of last year.

Since then, mortgage interest rates rose in November to a seven-year high of 4.87% and then subsequently came down to 4.27% in March—creating enough of a stir to get buyers attention. Each 1% increase in mortgage interest rate is equivalent to a 10% increase in home price. Conversely, a half point drop in the rate is comparable to a 5% price reduction.

Sellers and buyers are beginning the second quarter on more equal footing than they’ve had since the late 1990’s as we’ve rapidly oscillated between a seller’s market, a buyer’s market, and then a seller’s market again with little breathing room in between. Sellers have enjoyed a seven-year run with double digit annual appreciation most of those years. Buyers have enjoyed record setting low interest rates and can purchase today at what amounts to roughly 60% of the monthly expense of the forty-seven-year average 8.09% mortgage interest rate.

The market has much to offer buyers and sellers this year. We believe those looking to make a move in the next few years should do so this year when they can still secure incredibly affordable mortgage financing. Today’s buyers should be prepared to stay in their home at least five years. Home sellers moving to lower cost regions may also benefit from selling now. We know that every situation is unique, and we are here to help you evaluate your personal real estate holdings and purchase strategy.

Click or scroll down to find your area report:

Seattle | Eastside | Mercer Island | Condos | Waterfront

SEATTLE

The number of homes for sale more than doubled in Q1 compared to one year ago giving buyers options and compelling sellers to put their best foot forward. Seattle’s overall Median Sale Price was down 5.8% from Q1 2018 to $725,000 and down 1.4% from Q4. The Average $ Per Square Foot was down 1.6% from Q1 last year to $422. Queen Anne-Magnolia and North Seattle were the most impacted markets with the largest decrease in median price. As disappointing as the numbers are, Seattle homeowners have seen a 60% increase in the Median Sale Price over the past five years.

Click here to view the complete report for a neighborhood by neighborhood breakdown of Average Sale Price, size, and number of homes sold.

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EASTSIDE

Continued employment growth and planned expansion on the Eastside have benefitted homeowners as compared to Seattle as Bellevue, Redmond and Kirkland prepare for unprecedented development in the next decade. The Eastside’s Median Sale Price was down 1.8% from Q1 2018 to $927,000, but up 3.9% from Q4. The five-year Eastside median price trend is up 53% over 2014.

East Bellevue, East of Lake Sammamish, and Woodinville performed best in Q1—all with median price increases rather than reductions. A total of 1,209 home sales closed in Q1, which was down significantly from Q4, but down only slightly from the robust Q1 2018.

Click here for the full report and neighborhood-by-neighborhood statistics!

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MERCER ISLAND

Following a 10% Median Sale Price increase in 2018, the Mercer Island median fell 1.9% in Q1 2019 from Q1 2018 and 10.9% from Q4. Fewer luxury sales—only one waterfront sold in Q1—and lower demand contributed to the off quarter. The lower velocity of luxury sales impacted the Average Sale Price even more so than Realistically priced homes in solid condition and with desirable lot amenities and settings will do well in Q2 as they are met with demand from the greatest segment of buyers.

Click here to view the complete report for a neighborhood by neighborhood breakdown of Average Sale Price, size, and number of homes sold.

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CONDOS – SEATTLE & EASTSIDE

Affordability and access to transportation and amenities continues to drive condo desirability, but a nearly three-fold increase in the number of units for sale and softening apartment rents have tempered demand in some areas.

Seattle’s Condo Median Sale Price was down 4% from Q4 and 10.7% from Q1 2018 to $460,000 following a 12.8% median price increase in 2018. The Average $ Per Square Foot was $577. West Seattle and Queen Anne condos fared better than average while condos prices to the north softened a bit more.

The Eastside’s Condo Median Sale Price was down 5.5% from Q4 and 4.2% from Q1 2018 to $460,000—the same as Seattle—following a 17.2% median price increase in 2018 and a 20.6% increase in 2017. The Average $ Per Square Foot was $431. South Eastside and Mercer Island condos performed better than average while Kirkland condos struggled in Q1.

Check out all of these factoids and more in the full condo report.

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WATERFRONT

The Eastside had more private waterfront activity than Seattle, Mercer Island & Lake Sammamish combined. Seattle and Mercer Island sales were far slower than typical in Q1 with only two sales in Seattle and one sale on Mercer Island reported to NWMLS. Mercer Island had eight Q1 sales in 2017 and five in 2018. Seattle had six Q1 sales in 2017 and 3 in 2018.

The highest Q1 sale was a 1963 Yarrow Point home on 80 feet of waterfront sold at $8,650,000 after only 5 days on the market. The lowest sale was a 1940 Pleasure Point bungalow in South Bellevue with 45 feet of waterfront for $1,560,000 on the market for 7 days. Waterfront homes sold in Q1 tended to either sell immediately or languish on the market for months with very few finding middle ground.

This top-level overview of the entire Seattle-Eastside private waterfront market, including Mercer Island and Lake Sammamish, provides a glance into the trends occurring in our region over time. Interesting, and certainly insightful, it in no way replaces an in-depth analysis on waterfront value provided by a savvy broker with years of local waterfront experience.

Check out the full Waterfront Report for a complete list of waterfront home sales by address and community.

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ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2019, Windermere Real Estate/Mercer Island. Information and statistics derived from Northwest Multiple Listing Service and deemed accurate but not guaranteed.

Electric cars help lower emissions and fuel costs, improve fuel economy, and bolster energy security. And considering the volatility of gas prices—and their general skyward trajectory—electric fuel shows promise as an economic alternative.

But switching to an electric vehicle entails more than new driving habits and a conversation piece with strangers. It’s also a lifestyle update.

From setting up a charging station in the garage to maintaining optimal temperatures therein, check out these useful garage preparation tips to assure your electric vehicle battery is in tip-top shape.

Selecting a Charger: Level 1 vs. Level 2

Unfortunately, charging an electric vehicle might be a tad more involved than charging your smartphone. And unless you own a Tesla Model X, which can travel upwards of 300 miles on one charge, your electric plug-in vehicle could benefit greatly from a home station charger. That said, make sure you familiarize yourself with the two main levels of electric vehicle chargers supplied by home-based charging equipment and most public charging stations.

Level 1 Chargers

A Level 1 cord set charger delivers a standard household current of 110 or 120 volts and comes with most plug-in vehicles upon purchase. It’s outfitted with a three-pronged, household plug at one end that’s connected to a control box by a short cord. A longer 15-to-20-foot cord running from the other side of the box connects directly to the vehicle itself.

• If time is not of the essence, a Level 1 could be the way to go. But be forewarned: What you get is, more or less, a trickle charge that affords roughly three to five miles per charging hour. For instance, the Nissan Leaf takes around 24 hours to fully charge on a standard 120-volt household outlet.
• The upside is, Level 1 equipment doesn’t entail an elaborate setup of high-power circuit breakers or dedicated electrical lines, which are required by major appliances and Level 2 chargers.
• Because cord sets are portable, plug-in vehicles can be charged virtually anywhere there’s a standard outlet, provided it isn’t a household outlet that’s patched into the same circuit as other demanding appliances—in which case the excess amperage could trip a circuit breaker.

Level 2 Chargers

If time is of the essence, consider installing a Level 2 charger, which delivers 240 volts and replenishes pure electric vehicles in about three hours—which is about seven to eight times faster than Level 1 equipment. Unlike the simplicity of Level 1 setups, though, Level 2 chargers will warrant the services of a professional due to the rigmarole of electrical codes, equipment setup, and necessary inspections.

• Level 2 chargers cost anywhere between under $300 to over $1500, the price ultimately depending on cord length and amperage.
• Level 2 outputs typically range between 16 to 30 amps, but professionals often recommend around 30- to 40-amp systems—an adequate overnight charge for most plug-in electric cars.

Installing a Charging Station

It’s worth mentioning that the “charger” you’re installing is technically referred to as Electric Vehicle Service Equipment (EVSE). This is the wall-mounted box with cord and plug that delivers electricity and functions as a communication and safety unit for the actual charger situated inside the vehicle itself. The EVSE ensures the battery doesn’t overheat and shuts the charging session down if there’s a short circuit, power surge, or any other type of faulty hardware.

If you’ve opted for a Level 2 ESVE, you’ll likely need to reach out to a professional electrician to wire up equipment and determine where the ESVE should be situated in regards to where your vehicle is parked. Notwithstanding factors like outdated wiring, meters, and breaker panels, updating the garage for your electric ride should actually be pretty straightforward.

In rare instances, old wiring may need to be replaced. But by and large, the process is fairly easy and uncomplicated. What’s more, the plug itself isn’t any more difficult to install than a standard dryer outlet. For electric vehicle owners, installing a Level 2 ESVE is definitely the way to go.

Cost of Installation

The installation cost generally hinges on the work involved—such as the amount of wire that needs to be run, whether additional or replacement breaker panels are necessary, and the cost of labor in your area. This could vary between just a few hundred dollars to a couple thousand. However, you may be able to snag special rates from your utility company for installing an EVSE, so make sure you inquire.

Maintain Optimal Charging Temperatures

Even in the Seattle area, temps regularly drop below freezing in the winter. Recent studies suggest that charging time increases significantly as the weather goes down. If your garage is currently unheated and you want to keep charging time to a minimum, consider these tips from Family Handyman on the best ways to add a heating system.

ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2019, Windermere Real Estate/Mercer Island. Text originally posted on Windermere.com.

There are a number of things that can trigger the decision to remodel or move to a new home. Perhaps you have outgrown your current space, you might be tired of struggling with ancient plumbing or wiring systems, or maybe your home just feels out of date. The question is: Should you stay or should you go? Choosing whether to remodel or move involves looking at a number of factors. Cost vs. value is a big consideration—check out the chart below or click here to view Remodeling Magazine’s full 2019 Cost vs. Value Report showing the cost and resale value of 21 projects in the Seattle area.

Here are some things to consider when making your decision…

FIVE REASONS TO MOVE:

1. Your current location just isn’t working.

Unruly neighbors, a miserable commute, or a less-than-desirable school district—these are factors you cannot change. If your current location is detracting from your overall quality of life, it’s time to consider moving. If you’re just ready for a change, that’s a good reason, too. Some people are simply tired of their old homes and want to move on.

2. Your home is already one of the nicest in the neighborhood.

Regardless of the improvements you might make, location largely limits the amount of money you can get for your home when you sell. A general rule of thumb for remodeling is to make sure that you don’t over-improve your home for the neighborhood. If your property is already the most valuable house on the block, additional upgrades usually won’t pay off in return on investment at selling time.

3. There is a good chance you will move soon anyway.

If your likelihood of moving in the next two years is high, remodeling probably isn’t your best choice. There’s no reason to go through the hassle and expense of remodeling and not be able to enjoy it. It may be better to move now to get the house you want.

4. You need to make too many improvements to meet your needs.

This is particularly an issue with growing families. What was cozy for a young couple may be totally inadequate when you add small children. Increasing the space to make your home workable may cost more than moving to another house. In addition, lot size, building codes, and neighborhood covenants may restrict what you can do. Once you’ve outlined the remodeling upgrades that you’d like, a real estate agent can help you determine what kind of home you could buy for the same investment.

5. You don’t like remodeling.

Remodeling is disruptive. It may be the inconvenience of loosing the use of a bathroom for a week, or it can mean moving out altogether for a couple of months. Remodeling also requires making a lot of decisions. You have to be able to visualize new walls and floor plans, decide how large you want windows to be, and where to situate doors. Then there is choosing from hundreds of flooring, countertop, and fixture options. Some people love this. If you’re not one of them, it is probably easier to buy a house that has the features you want already in place.

FIVE REASONS TO REMODEL:

1. You love your neighborhood.

You can walk to the park, you have lots of close friends nearby, and the guy at the espresso stand knows you by name. There are features of a neighborhood, whether it’s tree-lined streets or annual community celebrations, that you just can’t re-create somewhere else. If you love where you live, that’s a good reason to stay.

2. You like your current home’s floor plan.

The general layout of your home either works for you or it doesn’t. If you enjoy the configuration and overall feeling of your current home, there’s a good chance it can be turned into a dream home. The combination of special features you really value, such as morning sun or a special view, may be hard to replicate in a new home.

3. You’ve got a great yard.

Yards in older neighborhoods often have features you cannot find in newer developments, including large lots, mature trees, and established landscaping. Even if you find a new home with a large lot, it takes considerable time and expense to create a fully landscaped yard.

4. You can get exactly the home you want.

Remodeling allows you to create a home tailored exactly to your lifestyle. You have control over the look and feel of everything, from the color of the walls to the finish on the cabinets. Consider also that most people who buy a new home spend up to 30 percent of the value of their new house fixing it up the way they want.

5. It may make better financial sense.

In some cases, remodeling might be cheaper than selling. A contractor can give you an estimate of what it would cost to make the improvements you’re considering. A real estate agent can give you prices of comparable homes with those same features. But remember that while remodeling projects add to the value of your home, most don’t fully recover their costs when you sell.

ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2019, Windermere Real Estate/Mercer Island. Text originally posted on Windermere.com. Remodeling data © 2019 Hanley Wood Media Inc. Complete data from the Remodeling 2019 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.

An increase in homes for sale coupled with rising interest rates have created a far more balanced market than we started 2018 with. This is a good thing as it will help our region tame affordability and create a sustainable marketplace. More homes came to market in 2018 than in any year since 2011. This provided home buyers with plentiful choices and forced home sellers to competitively position their homes to compete with other homes for sale—something they haven’t had to give much thought to in the last seven years.

The cost of a 30-year fixed-rate mortgage began the year at 3.95% and ended at 4.64%. Indications show rates could rise to 6% by the end of 2019. Mortgage rates are a far bigger factor than most people consider. A 1% increase in mortgage interest rates decreases buying power by 10%. Or said differently, a 1% rate increase has the same net effect on monthly payment as a 10% increase in the sale price. That also means if prices fell 10% but rates went up 1% the monthly mortgage payment would remain the same.

Our 2019 market will be driven by buyers motivated to beat interest rate hikes nipping at their heels and by sellers who will choose to price moderately following a seven-year appreciation growth run. Properly-priced homes in good condition and in desirable settings will do well, as will affordable homes on the periphery of the metro region. Strategic positioning, savvy marketing, and expert negotiation have never been so important as they are now.

Click or scroll down to find your area report:

Seattle | Eastside | Mercer Island | Condos | Waterfront

SEATTLE

2018 was a year of transition from an ultra-competitive seller’s market to a more balanced market. The first four months of the year saw dramatic price acceleration—arguably far beyond the comfort of Seattle area home buyers—as home values skyrocketed each month through the spring market. Around the beginning of May, home buying activity slowed as the number of homes for sale increased and buyers had more choices for the first time in years. Home prices have declined since that peak in most neighborhoods, but still ended the year up comfortably over 2017 values.

Seattle’s overall Median Sale Price was up 8.8% to $769,950, while its Average Sale Price was up 10.4% to $883,590. The Average $ Per Square Foot increased 9.7% to $437, with Lake Forest Park/Kenmore the most affordable region at $327/sq ft and Madison Park/Capitol Hill the most spendy at $561/sq ft.

Three Seattle neighborhoods had double-digit median price growth in 2018: Lake Forest Park/Kenmore at 14.4%, West Seattle at 12.7%, and Queen Anne/Magnolia at 12.2%.

Click here to view the complete report for a neighborhood by neighborhood breakdown of Average Sale Price, size, and number of homes sold.

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EASTSIDE

Even with Eastside expansion announcements from several notable tech companies, 2018 saw a shift from an ultra-competitive seller’s market to a more balanced market. While the sky is not falling, price growth has slowed to a more modest and sustainable pace. After rising astronomically at the beginning of the year, prices have generally softened as buyers and sellers find their new norms.

The Eastside’s overall Median Sale Price was up 8.2% to $939,129, while its Average Sale Price was up 9.3% to $1,143,557. The higher average sale price reflects the impact of luxury home prices at the upper end of the market. The median sale price is attributed to the larger volume of mainstream sales at more moderate price points.

Four Eastside neighborhoods had double-digit median price growth in 2018: Kirkland at 23.8%, Woodinville at 12.9%, West Bellevue at 12.4%, and Mercer Island at 10.0%.

Click here for the full report and neighborhood-by-neighborhood statistics!

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MERCER ISLAND

The Island, much like the region surrounding it, saw a shift from an ultra-competitive seller’s market to a more balanced market as the number of homes for sale increased markedly following a strong spring market. Home values have softened since the peak market of 2018, but still ended the year with a hefty increase over 2017 values.

The number of home sales were down in 2018: 285, as compared to 330 in 2017. Modern, turn-key homes and highly desirable settings were most sought after while those lacking essential attributes were often passed over, ending the year unsold.

Uniquely situated near both the Seattle and Eastside metro areas, the Island has always tended to fare better than most in a transitioning market. Mercer Island’s Median Sale Price was up 10.0% to $1,700,000, while its Average Sale Price was up 10.5% to $2,059,996. The higher average sale price reflects the impact of luxury home prices at the upper end of the market. The Average $ Per Square Foot increased 11.3% to $606.

Click here to view the complete report for a neighborhood by neighborhood breakdown of Average Sale Price, size, and number of homes sold.

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CONDOS – SEATTLE & EASTSIDE

New construction added to the more than two-fold increase in the number of condos for sale during the year compared to 2017, from 2,131 to 4,857 units listed throughout the year. Even so, regional affordability issues drove condo desirability to all-time highs and fueled price increases that outpaced single-family homes.

Seattle’s Condo Median Sale Price was up 12.8% to $505,500, while its Average Sale Price was up 10.5% to $582,163. The Average $ Per Square Foot increased 7.5% to $601. Three regions saw increases above 20%: Richmond Beach/Shoreline at 26.8%, Ballard/Green Lake at 24.1%, and South Seattle at 24.0%.

The Eastside’s Condo Median Sale Price was up 17.2% to $480,500, while its Average Sale Price was up 17.0% to $576,061. The Average $ Per Square Foot increased 13.5% to $453. Two regions saw increases above 20%: East Bellevue at 34.0% and Kirkland at 25.0%.

Check out all of these factoids and more in the full condo report.

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WATERFRONT

While the number of sales in 2018 was down markedly compared to recent years as a result of fewer international buyer purchases, a handful of notable sales drove value markers up, creating the artificial appearance of appreciation when price growth was relatively flat in 2018. Those sales include three Media and Points properties sold above $14 M, a record Lake Sammamish sale above $11 M, a Mercer Island sale above $13 M, and a Laurelhurst sale at $11 M.

This top-level overview of the entire Seattle-Eastside private waterfront market, including Mercer Island and Lake Sammamish, provides a glance into the trends occurring in our region over time. Interesting, and certainly insightful, it in no way replaces an in-depth analysis on waterfront value provided by a savvy broker with years of local waterfront experience.

Check out the full Waterfront Report for a complete list of waterfront home sales by address and community.

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ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2019, Windermere Real Estate/Mercer Island. Information and statistics derived from Northwest Multiple Listing Service and deemed accurate but not guaranteed.

Looking to share your bounty this holiday season? Below are some of my favorite Seattle-area organizations who can use your time, household items, toys, and more to help improve the lives of homeless and low-income families in our area. You might also check out these tips on how to make the most of charitable giving.

Northwest Harvest’s mission is to end hunger in Washington. They partner with 375 food pantries, meal programs, and high-need schools across the state to provide nutritious food and promote good health for those in need. You can help by volunteering at the Cherry Street Food Bank in Seattle (children in 3rd grade or older are welcome to volunteer with you!). You can also host a virtual food drive or make a cash/vehicle donation.

http://www.northwestharvest.org/
1 (800) 722-6924
Cherry Street Food Bank: 711 Cherry Street, Seattle
Kent Warehouse: 22220 68th Ave S, Kent

Mary’s Place helps homeless women, children and families from the greater King County area. With a list of families that has double this year, the need for help is higher than ever. You or your organization might consider supporting their giving tree (donations due by December 7th) or joining in the Brooks Holiday Fun Run on December 1st benefiting the No Child Sleeps Outside campaign. You can also volunteer your time, donate wishlist items, or share your used clothing, blankets, and coats.

http://www.marysplaceseattle.org
(206) 621-8474
Donation Center in SODO: 9 South Nevada St, Seattle
Family Center in North Seattle: 1155 N 130th St, Seattle

Hopelink provides critical services to homeless and low-income families, children, seniors, and people with disabilities on north and east King County. You can help by donating food or grocery gift cards to their food bank, contributing unwrapped toys to their holiday gift room, or volunteering to help with their holiday giving events.

https://www.hopelink.org/
(425) 869-6000
8990 154th Ave NE, Redmond

Each night in Seattle, 700-1,000 young people are homeless and most were traumatized before they reached the streets. YouthCare builds confidence and self-sufficiency for homeless youth by providing a continuum of care that includes outreach, basic services, emergency shelter, housing, counseling, education, and employment training. Lend a hand by volunteering, hosting a drive, or hiring a YouthCare graduate.

http://youthcare.org/
(206) 694-4500
2500 NE 54^th Street, Seattle

Did you know less than 50% of Washington state youth in foster care graduate from high school? Treehouse seeks to level the playing field by providing academic and other essential support foster kids need to graduate at the same rate as their peers, with a plan for their future. You can help by volunteering, hosting a drive or donating to their holiday program.

https://www.treehouseforkids.org/
(206) 767-7000
2100 24th Avenue S./Suite 200

With a mission to help people in need of immediate food assistance, the Emergency Feeding Program partners with 240 local agencies to distribute 50,000 bags of quality, nutritional food and ensure that no one will go hungry tonight. You can help by donating these most needed foods or making a cash contribution.

https://www.emergencyfeeding.org/
(425) 277-0300
851 Houser Way N, Renton

Eastside Baby Corner was founded by a local pediatric nurse concerned about the large numbers of babies in her practice who began life without basic essentials like adequate food, clothing, beds, or safety equipment. Today Eastside Baby Corner’s location in Issaquah, Northshore and Bremerton collect, purchase, and distribute essential care items such as formula, diapers, carseats, warm coats, school supplies, and more for babies and children in need. You can help out by volunteering, donating, or organizing a drive.

Eastside Baby Corner:
http://babycorner.org
(425) 865-0234
1510 NW Maple St. in Issaquah
6524 NE 181st Street, Suite 6, Kenmore1463 NE Dawn Road, Suite B, Bremerton

Since 1947, The U.S. Marine Corps Toys for Tots program has distributed 548 million toys to 251 million children in need. Consider helping out this year by donating a new toy, volunteering, or asking your organization to become a toy drop site.

https://fort-lewis-wa.toysfortots.org
Click Here for Toy Drop Off Locations
Coordinator: Gunnery Sergeant James Wells, (253) 720-9858

Every year, nearly 40% of our country’s food ends up in landfills, while millions go hungry. Food Lifeline attempts to solve both problems by rescuing millions of pounds of surplus food from farmers, manufacturers, grocery stores, and restaurants. They then deliver this healthy and nutritious food to more than 300 food banks, shelters and meal programs across Western Washington–providing 97,000 meals every day. You can help by volunteering (opportunities are available for kids as young as 6, too!), donating funds or hosting a food drive.

https://foodlifeline.org/
(206) 545-6600
815 S 96th St, Seattle

Wellspring helps low-income and vulnerable individuals, children and families in Seattle and King County address issues such as mental health, family homelessness, early learning, basic needs, and domestic violence intervention. Each year they help thousands of children and families break cycles of instability, homelessness, and adversity to achieve positive, permanent change. You can help by donating to their Giving Together holiday campaign or getting your children involved in the Kids Helping Kids youth philanthropy program.

http://wellspringfs.org/
(206) 826-3050
1900 Rainier Avenue South, Seattle

Founded and run by a group of philanthropic women over 100 years ago, Seattle Children’s mission is to provide hope, care and cures to help every child live the healthiest and most fulfilling life possible. You can help their patients by donating a new toy or gift card, volunteering, contributing funds, or supporting one of its guilds (such as the Project Kids Cancer Cure Guild).

http://www.seattlechildrens.org
(206) 987-2000
4800 Sand Point Way NE, Seattle

ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2018, Windermere Real Estate/Mercer Island.

Our Northwest holidays may be wet, but they’re still bright! Make the most of the season with Seattle favorites—such as dazzling light displays and the Parade of Boats—along with new additions like the “Enchant” event with light mazes and ice skating inside Safeco field. Scroll down for all the details…

WildLights at Woodland Park Zoo

5500 Phinney Ave. N, Seattle, WA 98103
www.zoo.org/zoolights
click here to get tickets

• Dates/Times: Open nightly 11/23/18 – 1/5/19 | 5:30 – 8:30 pm
• Cost: $9.95 – $14.95 per person (ages 2 and under are free)
• Promotion: Get a 10% group discount on WildLights tickets for groups of 20+ (12/14/18 – 1/5/19).
• Parking: Free parking is available at all lots after 4:30 pm (admission at both gates)
• Food: Refreshments are available at food kiosks, Pizza Corner, and at the Pacific Blue Chowder House (with covered seating provided). You are also welcome to bring your own food and non-alcoholic beverages.
• Special activities: Carousel, fire pits, select indoor animal exhibits, ZooStore, & indoor snowball fights at the Snowmazium
• Closures: December 12, 24 & 25, 2018

Image courtesy of https://zoo.org/zoolights

Winterfest at Seattle Center

305 Harrison Street, Seattle, WA 98109
www.seattlecenter.com/winterfest

Map

• Dates/Times: Winter train & village open daily 11/23/18 – 12/31/18 | 10 am – 6 pm
  Winterfest Ice Rink open 11/23/18 – 1/6/19, Sun-Thu from 11 am – 8 pm, Fri-Sat from 11 am – 10 pm
• Cost: Free for all ages (ice skating is $2 – $8 including rental)
• Parking: Paid parking available at the Mercer Garage, 1st Ave N Garage, 5th Ave N Garage, and Theatre Commons Lot. Click here for the campus map
• Food: A multitude of dining options await you in the Armory
• Special events: Ice skating at the Winterfest Ice Rink, ice sculpting, caroling, the Winter Train & Village, and more!
• Holiday Closure: 12/25

Enchant at Safeco Field

1250 1st Ave S, Seattle, WA 98134
https://enchantchristmas.com/seattle/
click here to get tickets

• Dates/Times: 11/23/18 – 12/30/18 | Sun-Thu from 4 – 10 pm, Fri-Sat from 4 – 11 pm
  
• Cost: $19 – $32.99 per person (ages 3 and under are free) | VIP passes with dinner starting at $64.99
  
• Promotions: Discount days on 11/27, 12/4 & 12/11 | Discount on final 2 hours of any day | Group discounts for 15 or more
  
• Parking: $8 – $60 at Safeco Field Garages or check out the city’s Interactive Parking Map
• Food: Seasonal food and treat concessions throughout
  
• Activities: Ice skating trail, light maze, visits with Santa & Mrs. Claus, nightly live music & shows, gift market
  
• Closures: 11/26, 12/3 & 12/10

Garden d’Lights at Bellevue Botanical Garden

12001 Main Street, Bellevue WA 98005
https://bellevuebotanical.org/garden-dlights/
click here to get tickets

• Dates/Times: Open nightly 11/24/18 – 12/30/18 | 4:30 – 9:00 pm
• Cost: $5 per person (ages 10 and under are free)
• Promotion: Free admission nights on November 24, 25, 26, 27, 28 & 29
• Parking: Premium parking is $5 per car in the Garden’s lot (cash only) as space allows OR park for free at Wilburton Hill Park
• Food: Hot drinks and snacks are available at the Aaron Education Center
• Activities: Gingerbread village, live music
• Holiday Closures: None

Image courtesy of https://gardendlights.org/

Snowflake Lane at the Bellevue Collection

Bellevue Way & NE 8th Street, Bellevue WA 98004
http://snowflakelane.com/

• Dates/Times: Nightly 11/23/18 – 12/24/18 | 20 minute show starts at 7 pm
• Cost: Free for all ages
• Parking: Free parking at Bellevue Square, Bellevue Place and Lincoln Square
• Food: A variety of dining options (from happy hour, to kid fare, to gourmet meal) are all within walking distance
• Special Events & Activities: Ice Skating, Santa Parade & Tree Lighting, Santa Photos

Image courtesy of http://bellevue.com/snowflake-lane

Christmas Ship Festival

Launch locations include Lake Union Park, Kirkland City Dock, Hyatt Regency Lake Washington, Des Moines Marina, Port of Poulsbo, Seattle Waterfront – Pier 55, Tacoma (Dock Street Marina), Edmonds, and Shilshole Bay Marina

www.argosycruises.com
click here to get tickets

• Dates/Times: Click here for the full schedule
• Cost: $22 – $68 per person (kids 3 and under are free)
• Parking: Varies by location – click here for details
• Food: While dining ahead of time is recommended, there are snacks and drinks available for purchase on the ship. You can also pre-order Ingallina’s boxed meals (with vegetarian and gluten-free options) at least 72 hours prior to your cruise. Outside food/drinks are not allowed.
• Special Events: Parade of Boats Night, Kid Cruise, Grand Finale Night

Ivar’s Clam Lights at Gene Coulon Memorial Beach Park

1201 Lake Washington Blvd N, Renton, WA 98056
https://rentonwa.gov/clamlights

• Dates/Times: Open nightly 11/30/18 – 1/1/19 | 5 – 9 pm
• Cost: Free for all ages
• Parking: Park for free at the Gene Coulon Memorial Beach Park parking lot
• Kickoff Event on November 30th, 2018, 5:30-8:30: Music, selfie-station with Santa & Mrs. Claus in their sleigh, official lighting ceremony, Parade of Boats viewing, and a visit from the Christmas Ship and Dickens Carolers
• Holiday Closures: None

Image courtesy of https://rentonwa.gov/clamlights

Westlake Center Tree Lighting & Holiday Activities

400 Pine St., Seattle, WA 98101 (Westlake Park)
http://redtri.com/seattle/westlake-center-tree-lighting/

• Dates/Times: Tree lighting ceremony on 11/23/18 at 4:30 pm. Holiday market Fri-Sun beginning 11/23 through 12/23. Carousel and other festive attractions through January 1st, 2019
  
• Cost: Free for all ages
• Parking: Access the Republic Parking garage from Olive Way between 4th & 5th Ave, or check out this interactive map of city parking
  
• Activities: Carousel, Holiday Market at Westlake Park

Image courtesy of http://redtri.com

Zoolights at Point Defiance Zoo & Aquarium

5400 N Pearl St, Tacoma, WA 98407
www.pdza.org/event/zoolights
click here to get tickets

• Dates/Times: Open nightly 11/23/2018 – 1/6/2019 | 5 – 9 pm
  
• Cost: $10-$12 (free for kids 2 & under)
  
• Promotions: $6 for zoo members; Scout discount night 12/4; Military discount nights Nov. 26, 28 & Dec. 3, 5, 10, 12, 17, & 19
• Parking: Free parking in zoo lots (carpooling recommended)
  
• Food: Warm drinks & treats available at the cafe and kiosks
  
• Activities: Camel rides, carousel, aquarium, Kids’ Zone with animals
  
• Holiday Closure: 12/24

Image courtesy of https://www.pdza.org

ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2018, Windermere Real Estate/Mercer Island.

As Q3 comes to a close, 30-year fixed-rate mortgages are at their highest levels since April 2011—now averaging just above 4.7%. Even so, they are still far lower than their 30-year trendline. A 1% increase in mortgage interest rates decreases buying power by 10%. Or said differently, a 1% rate increase has the same net effect on monthly payment as a 10% increase in the sale price. That also means if prices fell 10% but rates went up 1% your payment would remain the same. This is a far bigger factor than most people consider.

Both first-time and move-up home buyers, with (finally!) more homes for sale to choose from and motivated by anticipated further rate hikes nipping at their heels, will feel the urgency to get moved and settled while they can still afford to do so.

Our market is likely to increasingly favor buyers as interest rates cause mortgage payments to increase uncomfortably beyond the affordability ceiling governed by personal income and wages. Properly-priced turn-key homes, and those in the most desirable settings, are still commanding very attractive prices and occasionally multiple offers. Everything else is seeing slowing appreciation and market softening. Strategic positioning, savvy marketing, and expert negotiation have never been so important as they are now.

Click or scroll down to find your area report:

Seattle | Eastside | Mercer Island | Condos | Waterfront

SEATTLE

Seattle neighborhoods that were strongly bolstered by new construction and renovation saw the strongest sales activity, and not surprisingly, the greatest correlated price growth. Up 16.4% Q3 over Q3, the Queen Anne/Magnolia area led the charge, followed closely by Madison Park/Capitol Hill at 15.9%. Lake Forest Park/Kenmore at 13.2% and West Seattle at 12.5% also fared very well. Richmond Beach/Shoreline (6.2%), Ballard/Green Lake (4%), North Seattle (3.4%), and South Seattle (0.7%) saw notable price easing and contributed to rounding Seattle out to a modest 6.3% overall Q3 2017 to Q3 2018 median price increase.

Click here to view the complete report for a neighborhood by neighborhood breakdown of Average Sale Price, size, and number of homes sold.

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EASTSIDE

Sharp increases in the number of homes for sale coupled with fewer international buyer transactions has caused a few ripples in the Eastside real estate market.

Mercer Island shows the strongest Q3 over Q3 increase in median sale price (see explanation below) at 19.7%, followed by Woodinville at 12.3% and Redmond at 12.2%. Bringing up the mid-section was West Bellevue at 8.0%, East of Lake Sammamish at 7.8%. Lagging the Eastside median increase of 7.3% were Kirkland (6.9%), South Eastside (2.0%), and East Bellevue (1.8%).

Click here for the full report and neighborhood-by-neighborhood statistics!

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MERCER ISLAND

The Q3 median sale price was 19.7% higher than that of Q3 2017. However, its crucial to note that Q3 of 2017 was an anomaly with many land-value sales transacting at the low end of the price spectrum. The effect was that the median sale price was 10.2% lower than Q1 of that same year. Far fewer moderately priced homes transacted in Q3 of this year.

There were 89 sales in Q3 2017 and of those sales 45 were of homes priced below $1.5 million. Compare that to Q3 of 2018 with 74 sales, of which only 28 were priced below $1.5 million. The differential of sales between the two years was almost entirely composed of entry-level and land value home sales.

To further prove this, we looked at comparable homes sold this year and last (an approach like that of the Case-Schiller index). All things being roughly equal, the median sale price of that subset of homes increased only 9.0% from Q3 2017 to Q3 2018. This number is far more in alignment with what we have truly experienced in our market.

Click here to view the complete report for a neighborhood by neighborhood breakdown of Average Sale Price, size, and number of homes sold.

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CONDOS – SEATTLE & EASTSIDE

Significant new construction projects underway or announced have dampened sales of existing condos somewhat, especially where they will directly compete with the new buildings. Neighborhood safety is being weighted more carefully against urban hip now more than ever. In Seattle, median sale prices of existing condos in Downtown Seattle/Belltown (-0.4%), Queen Anne/Magnolia (-4.8%), and North Seattle (-8.0%) have all decreased while surrounding areas have seen very strong to moderate Q3-Q3 increases. This quarter’s top contenders were Richmond Beach-Shoreline (30.3%), Ballard-Green Lake (26%), and West Seattle (25%).

On the Eastside, all areas except South Bellevue (-9.3%) saw considerable increases in the Q3 median sale price. East Bellevue (37.1%), Redmond (19.1%), and Kirkland (17.6%) topped the charts.

Check out all of these factoids and more in the full condo report.

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WATERFRONT

The Eastside has been a hotbed of waterfront closed sale activity with as many Q3 sales as Seattle, Mercer Island, and Lake Sammamish combined. The number of active private waterfront listings for sale on the Eastside is down compared to Q3 of both 2015 and 2016, while the listing levels of Seattle, Mercer Island and Lake Sammamish waterfront properties remain about the same.

With only two closed sales in Q3, Months of Inventory—the number of homes for sale divided by the number of homes that sold—climbed dramatically on Mercer Island. Seattle, with four closed waterfront sales, saw a similar but more moderate increase. The Eastside and Lake Sammamish both experienced improvement in the Months of Inventory indicator.

The highest private waterfront Q3 sale was of a newer 6,570 square foot Hunts Point modern estate designed by Baylis Architects with 80 feet of no-bank waterfront on just over an acre of lush, private grounds for $18 million. The lowest sale was a 1,010 square feet westside Lake Sammamish 1958 beach house with 60 feet of waterfront on a shy ¼ acre lot with permitted approval for a new 5000 square foot home.

Check out the full Waterfront Report for a complete list of waterfront home sales by address and community.

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ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2018, Windermere Real Estate/Mercer Island. Information and statistics derived from Northwest Multiple Listing Service and deemed accurate but not guaranteed.

Are you ready for some football? Scroll down for printable schedules, game-day recipes and awesome tailgating hacks…

Hosting friends for game day? We’ve got you covered with everything from easy snacks to bonafide Seattle-born favorites…

1. Easy Chicken Taquitos

So quick and delectable, you can skip the freezer aisle and go fresh instead! Click here for the recipe.

Photo courtesy of allrecipes.com

2. Seahawks Popcorn

Just the right mix of sweet and salty, this perfect treat is also a breeze to make. Click here to learn how.

Photo courtesy of twosisterscrafting.com

3. Just Good Chili

Coffee and cocoa powder? This is chili done Seattle-style, baby! Here’s the skinny.

Photo courtesy of thewednesdaychef.com

4. Seattle Dogs

A carry-over from the 1990s grunge era, cream cheese and sauteed onions define these wholly Seattle creations. Here’s how to make your own at home.

5. Bacon-Wrapped Jalapeno Poppers

Need we say more? Click here and let the magic begin.

Image courtesy of allrecipes.com

6. Ivar’s Clam Chowder

A Seattle legend and oh so good for those rainy day games. Dive in!

Image courtesy of geniuskitchen.com

7. Hawk Shots

Fun, festive and easier then they look. This is how you do it.

8. Slow Cooker Pulled Pork

Root beer is the secret to this culinary gem. Yummy in a sandwich, or eat it right out of the crock pot all by itself…we won’t tell. Here is the scoop on how to make it.

Image courtesy of allrecipes.com

9. Avocado and Black Bean Dip

Surprisingly simple and delicious, this dip is also healthier than most. Grab some chips and check out the recipe.

Image courtesy of allrecipes.com

10. The Paseo Cuban Sandwich

For Seattleites who know the joy of Paseo sandwiches–or anyone who just loves good food–this recipe is well worth the extra effort.

Photo courtesy of The Seattle Times

11. Crab Rangoon

For those looking to go the extra mile, these tasty appetizers will be the talk of your party. Find the full rundown here.

Photo courtesy of allrecipes.com

12. The 12th Man Margarita

The quintessential Seahawks cocktail created by Elliott’s Oyster House. Now you can mix it at home and impress your friends.

Photo courtesy of lakeunionsearay.com

Bonus: Color Formulas for Team-Colored Frosting!

ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2018, Windermere Real Estate/Mercer Island.