olympia: Will real estate housing prices go down in Olympia WA due to the Coronavirus?
- 03/17/20 04:22 PM
In short, probably not, and here’s why.
Supply and Demand
Olympia WA and Thurston County have the lowest standing inventory in its history. At the end of February, Thurston County had just 242 homes listed for sale. In contrast, a balanced market is about 1,200 listings. Our market would need to add 1,000 listings in a month to just get to a balanced market, and even more listings would have to be added to get to a buyer’s market.
Along with this is the absorption rate in Thurston County. Never have we been below a 1-month supply of homes for sale.
This chart below shows … (2 comments)
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olympia: Olympia WA Home Sellers See Relief in Sales Tax in 2020
- 01/09/20 12:55 PM
Starting January 1, 2020, many home sellers in Thurston County, WA will see relief in their Real Estate Excise Tax (REET) that they pay to the state of Washington when they sell their home.
In the past, most areas in Thurston County were taxed 1.78% (1.28% state tax rate + 0.50% local rate) of the sales price and were paid by the seller at the time of their home sale.
Now in 2020, the tax rate changed to a graduated structure, lowering the cost for most home sellers in Thurston County.
For a sales price of $500,000, the new combined tax rate is 1.60% … (3 comments)
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olympia: Housing in 2019 is more affordable than last year in Olympia WA
- 08/27/19 01:53 PM
Buyers in Thurston County, WA (which include Olympia, Lacey, Tumwater and Yelm) are seeing higher home prices but are enjoying near-historic low interest rates, making homes more affordable now than last year at this time.
The average home price in Thurston County, WA is $371,323, up 4 percent from last year. But because interest rates have plummeted 1 percent from last year, buyers are seeing their dollars go further.
The average-priced home of $371,323 with the national average 30-year mortgage rate of 3.55% realizes a monthly principal and interest payment of $1,678 (taxes and insurance would increase this number). Comparing the average home … (2 comments)
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olympia: Open Houses this weekend in Olympia, Lacey, Tumwater WA - August 24-25, 2019
- 08/23/19 10:49 AM
Get your slip-on shoes on and head out this weekend to visit open houses in the Olympia, Lacey, and Tumwater areas in Thurston County, WA! Click here for the open houses this weekend, August 24-25, 2019.
There are some great choices this weekend from cute little bungalows to homes on acreage to waterfront properties. And be sure to be kind to your open house hosts! Say hi and introduce yourself. I promise you, the real estate agent hosting the open house won't bite!
Have fun and if you see a house you'd like more information on, please contact me this weekend.
… (1 comments)
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olympia: Thurston County WA where you can find affordable housing
- 03/14/19 03:38 PM
The University of Washington Center for Real Estate Research in Seattle, WA publishes reports about the economy and the real estate sector in Washington State. One of their reports is the housing affordability index.
The Index tracks affordability in all Washington counties. We are tracking King (where Seattle is located), Pierce (Tacoma) and Thurston (Olympia) counties and how Thurston County compares to its northern neighbors.
The Index looks at median income and median-priced homes if the buyer was buying a home with a 20% down payment on a 30-year fixed-rate loan.
An index higher than 100 means the market is affordable; below 100 is … (4 comments)
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olympia: 2019 Real Estate Forecast for Olympia, Tumwater, Lacey, WA in Thurston County
- 01/16/19 12:38 PM
This year in real estate in the Thurston County, WA area, including the cities of Olympia, Lacey, and Tumwater, are bound to be a very successful year both for sellers and buyers. Here is the 2018 recap with the 2019 projections.
Record Number of Sellers
A record number of resale homes came to the market throughout 2018. That gave buyers more choices and it moved the standing inventory of homes (those available at any moment in time) from record low levels. The increase in both helped nudge our market out of a deep seller’s market and begin a trend back toward balance.
2019 Projection: … (1 comments)
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olympia: Washington REALTORS® Go to the Hill for Legislative Day January 24, 2019
- 01/14/19 01:57 PM
Washington REALTORS® from around the state will be gathering in Olympia, WA at our state’s capital to join in Legislative Day 2019.
REALTORS® and the REALTORS® associations work with elected officials in promoting and protecting homeownership. On January 24, 2019, REALTORS® will defend the industry by gathering to talk with elected officials on seven main points in the Unlock the Door campaign (www.unlockthedoorwa.com). In summary, this campaign is tackling the lack of housing opportunities in Washington State. Washington REALTORS® are working with non- and for-profits to work with our elected officials on legislation regarding these seven main points:
Reform Condominium Liability Laws … (6 comments)
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olympia: The Olympia, Lacey and Tumwater, WA Housing Market Update for December 2018
- 01/13/19 10:36 AM
The Olympia, Lacey and Tumwater, WA Housing Market Update for December 2018
Olympia, WA is the capital city of Washington State and is located in Thurston County with the other major cities of Lacey and Tumwater, WA.
The December 2018 Highlights:
Overall the market in 2018 was very good for Olympia, Lacey, and Tumwater WA home buyers and sellers. Some sellers did see multiple offers on their homes while buyers were very savvy in their negotiations to successfully become homeowners.
Increased inventory means more choices for buyers. Year-to-Date sales are down however December 2018 was still the 3rd highest December ever for closed sales. … (8 comments)
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olympia: How to find out if a residential oil tank has been decommissioned in Olympia, WA
- 09/05/18 05:23 PM
Tips for finding records on decommissioned oil tanks in Olympia, WASome older homes in the Olympia WA area relied on buried and sometimes above-ground oil tanks to fuel their furnaces to heat their homes. Many of these homes have since been converted to natural gas or electric and the oil tank is now not in use. Oil tanks can last for about 30 years before they start to corrode and potentially start to leak oil into the soil and groundwater.
Decommissioning a tank involves either digging out the tank and removing it or leaving the tank in place and filling it with material … (0 comments)
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olympia: 5 Star Review for Francine Viola, Realtor in Olympia, WA
- 03/25/18 07:34 PM
Francine Viola, Realtor with Coldwell Banker Evergreen Olympic Realty in Olympia WA is proud to share this 5 Star Review:
"Francine helped us sell our home in Lacey. We were impressed with her honesty and thoroughness. She responded quickly to our questions and was very knowledgeable regarding the area we were living in. I would work with her again if given the opportunity."
If I could give them a review for being awesome sellers, I would!
They didn't need to do much to get their home in show-ready condition but were willing and able to do the finishes touches to make the … (0 comments)
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olympia: Olympia, Lacey, Tumwater WA Real Estate Market Update for Summer 2017
- 09/06/17 03:14 PM
The end of summer is upon us, and the real estate market has been just as hot as the summer weather.
Here is the summer 2017 real estate market update for the Olympia, Lacey and Tumwater areas of Washington.
Click here to watch the 1-minute update:
Supply is LOW, Demand is HIGH, which is driving up SALES PRICES
Supply is VERY LOW with just 1.7 months of supply. As you can see by this chart, the last time our market was anywhere near this low of supply within the last 17 years was in 2004. This market has been in a Seller's Market for … (0 comments)
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olympia: Olympia WA real estate market update for August 2017
- 08/03/17 03:03 PM
Like our August weather, the Olympia WA real estate market is continuing to be smokin' hot!
This update is short and sweet, but please contact me for customized information about how your home fits into the market.
Check out my video update here about the real estate market in Olympia WA.
As an Olympia WA seller, here is what to love about this year's real estate market:
Buyers competing for your home - driving up the price
You may have heard that inventory levels are down. They are but we are also adding new listings at a record pace. Even with all the new listings … (0 comments)
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olympia: Thinking of selling your Olympia or Lacey WA home in 2017?
- 07/21/17 01:55 PM
Thinking of selling your home in Olympia, WA or Lacey, WA this year? Now could be the time.
Here is just a sample of the sellers I represented who took advantage of the 2017 market.
The Olympia and Lacey WA inventory of homes for sale remains at an all-time LOW, while buyer activity remains at an all-time HIGH.
Think you missed out on the spring/summer market to list your home?
You didn't. This market is going strong and is not showing any signs of slowing down. (In fact, our ratios for buyer activity and sales was actually higher in December than in July of … (3 comments)
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olympia: Why all the negativity in such a great real estate market?
- 07/10/17 03:28 PM
Why all the negativity in such a great real estate market?
The real estate market for 2017 has been a good year.
After years of short-sales, bank-owned properties, an unstable economy and low buyer confidence, 2017 is a breath of fresh air. But sometimes, you just can’t make people happy, especially the media.
Last week, The Olympian, our local newspaper headlined an article, “Buying a home in Thurston County continues to be an exercise in frustration.” The first two paragraphs read:
“If you’re a prospective home-buyer looking for a little relief in a market that favors sellers, you didn’t find it in June, according … (5 comments)
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olympia: If I purchased my home at the height of the market, can I finally sell now?
- 05/17/17 05:57 PM
Get ready to do the happy dance, Olympia, WA homeowners!
If you purchased your home at the height of the market in 2006 and 2007, you probably have been watching and waiting for the market to correct itself in order to sell. That time has come!
April 2017 was the first month that we saw gains for homeowners who purchased in 2006/2007.
Although a modest gain, it's the first time this number has been in the positive.
The data consists of non-distressed sales (no short-sales or bank-owned properties), grouped by length of ownership where there was no significant remodeling. The original price paid … (4 comments)
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olympia: Throwback Thursday - spring training
- 05/04/17 08:34 AM
Hello 1981!
This was the year MTV was launched, Ronald Reagan was president and Lady Diana married Prince Charles. This was also the year I was on my Shorewood Elementary School softball team. (I'm standing between Jennifer and Celeste.)
What fun that was because most of our dads were the coaches, and they usually sent us into fits of giggles with their win-at-all-costs pep talks! (They were very intense for us 4th to 6th graders.) They would also yell at us if we got bored in the outfield and started collecting dandelion flowers instead of being focused on the game. It was pure … (4 comments)
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olympia: Ramblers for sale in Olympia, Lacey and Tumwater WA
- 02/07/17 05:31 PM
Ramblers for sale in Olympia, Lacey and Tumwater WA are hot properties and are desired homes for residents in the Thurston County, WA area.Search here for the current ramblers for sale in Olympia, Lacey, Tumwater and surrounding areas of Thurston County.
What is a rambler?A rambler is a single-story home. Some may call it a ranch. Others call it the perfect floor plan!
Why are ramblers desirable?No stairs! The convenience of not having to navigate stairs is appealing to a wide range of buyers. Young, old, single, married with kids, empty-nesters and multi-generational buyers all find value in ramblers over 2-story homes. … (0 comments)
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olympia: Real Estate Inventory in Olympia WA July 2016
- 07/08/16 08:55 AM
The discussion of inventory these days permeates the real estate headlines. There seems to be either too much inventory or not enough. Right now, there's not enough.
Starting off the summer in Olympia WA, the real estate inventory levels are low even though we have had more listings come on the market. But these new listings have been snapped up by buyers, who were ready and waiting.
A few stats:
In June 2015 - 545 new listings put on the market. In June 2016 - 687 new listings
More listings but also more buyers. The standing inventory in the Olympia WA area is 10% lower … (1 comments)
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olympia: Fireplaces - the secret to a better Thanksgiving and other winter holidays
- 11/20/15 03:34 AM
It's getting cold outside! I just took this photo this morning of my frosty willow.
This time of year makes me feel like staying inside and starting up the fireplace. And with Thanksgiving just around the corner, even more so.
But even though Thanksgiving and other winter holidays are something I look forward to, there is also that innate dread that washes over me at times, and that dread is usually spelled R-E-L-A-T-I-V-E-S.
We all have THOSE relatives. You know, the ones that love to start family drama at the table, or the ones laying drunk under the table, or the ones dancing … (7 comments)
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olympia: 8729 29th Wy SE, Olympia WA 98513 - home for sale!
- 10/16/15 08:55 AM
8729 29th Wy SE, Olympia WA 98513 is for sale!
For complete details on this listing, click here.
Elegant yet comfortable best describes this 4 bedroom, 3 full bath home backing a private wooded area. This home also features an attached two-car garage and 2,377 square feet built in 2013 by a noted local builder, Rob Rice Homes.
The soaring vaulted entry and extra hardwood floors will impress along with the granite countertops, stainless steel appliances including a gas range and open great room concept. The floor plan is open with extra large windows allowing lots of natural light to fill the … (3 comments)
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