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Category: Industry News
Industry News
FHA updates condo rules that should boost financing options on condos
Long-awaited updates to Federal Housing Administration condo rules will take effect October 15, 2019 under revised guidelines issued last month. Housing officials praised the change, saying the FHA loan program will now be more “flexible and responsive to market conditions.” FHA said it is bringing back spot approvals and taking [..]
Industry News
Eager buyers snag condos at “transformative” International District location
More than 80% of the homes at the first high-rise condominium to be built in Seattle’s Chinatown-International District (CID) have been reserved, according to project managers. Completion of KODA Condominium Flats – described as a “transformative development” – is projected for late 2020. The 17-story tower is located on a [..]
Industry News
Home buyers seeking affordability are expanding search outside Greater Seattle job centers
KIRKLAND, Washington (September 9, 2019) – Depleted inventory continues to frustrate would-be buyers in Western Washington. Many of these potential homeowners are expanding their search beyond the major job centers in King County, according to market watchers who commented on the latest statistics from Northwest Multiple Listing Service. The MLS [..]
Industry News
Researchers find gentrification yields some important benefits
Gentrification creates “some important benefits for original resident adults and children and few observable harms,” was one somewhat surprising conclusion in a first-of-its-kind report from the Federal Reserve Bank of Philadelphia. Authors of the just-released report found the process of gentrification reduces children’s exposure to poverty while increasing exposure to [..]
Industry News
Seattle mayor rolls out plans to “bend the arc” so more people can live in the city
“We have a generational opportunity before us to bend the arc so more people can live in Seattle,” proclaimed Seattle Mayor Jenny Durkan as she outlined her vision for addressing Seattle’s housing crisis. She also announced an ambitious plan called “Housing Seattle Now” for investing in housing for low- and [..]
Industry News
Land costs far outpacing inflation, driving up home prices
Land values for single family housing in the United States rose nearly four times faster than inflation between 2012 and 2017. The run-up in values resulted in a 27 percent jump in the median price per acre, according to the 2019 State of the Nation’s Housing report, a publication of [..]
Industry News
Northwest MLS brokers report mixed activity during July, as volume of closed sales reaches 12-month high
KIRKLAND, Washington (August 5, 2019) – July provided mixed messages on housing activity, noted one industry veteran when commenting on the latest report from Northwest Multiple Listing Service. The newly released MLS figures show last month’s closed sales reached a 12-month high. Member-brokers also reported the number of new listings [..]
Industry News
Lawn Love transforming yard care using technology, adds Washington state to its growing network
Current Services Lawn mowing Lawn aeration Lawn fertilization Lawn seeding Christmas light installation Gardening Gutter cleaning Leaf removal Snow removal Weed Control Yard clean-up Homeowners across Washington state who prefer to outsource the care and grooming of their yards and gardens now have a new resource thanks to young entrepreneur [..]
Industry News
News In Brief
Job openings and salaries rose across the country in June, but just like the rest of 2019, it was a slow crawl compared to 2018 numbers. In Seattle however, the increases were a bit more robust, according to a Glassdoor jobs report. Across the city, median pay rose 2.4% to [..]
Industry News
Puget Sound adding 188 new residents each day
More than 500,000 people have relocated to the four-county Puget Sound region since 2010. In the past year alone, this area welcomed an average of 188 people per day, according to the Washington State Office of Financial Management (OFM). Collectively, the region is home to 4.2 million residents. The past [..]