One of the hot topics in real estate has been the increase in mortgage rates since the inauguration of President Donald Trump; with 30-year mortgage rates increasing from 3.5 percent pre-election to a national average of 4.2 percent on January 5th, 2017. Although this was a scare for potential home buyers, there is good news.
A shocking statistic recently caught my attention, “The Seattle area has grown by more than 1,000 people per week since 2010.” For reference, that “area” mentioned does include Tacoma and Bellevue. Pulling out just Seattle numbers and the population rate is still very high. In Seattle proper, between 2010 and 2016, the population grew about 250 people per week.
Realogics Sotheby’s International Realty has recently released their 2016/2017 Market Report which examines the year-over-year performance of 24 markets that the brokerage serves, factors that have affected the Western Washington housing market this past year, and insight on where the market is heading in 2017.
Sotheby’s International Realty® has recently released their 2016 sales report, including a substantial $95 billion in yearly global sales volume (USD). This figure represents the highest annual sales volume performance in the history of the brand. The news of this benchmark figure was reported by CNBC writer Phillip White who went on the say that “During a year when the words "slowdown" and "slump" were used to describe the luxury housing market, 2016 turned out to be a banner year for Sotheby's International Realty.”
Matterport Technology was founded in 2011 with the mission statement of establishing 3D models as a primary medium for experiencing the world around us and evolving the way we interact with physical spaces. Matterport has developed a 3d camera and process which gives users an end-to-end platform to render a physical space into a 3d model. After rendering, these 3d models can either be viewed utilizing VR technology or simply on a screen; both offer a unique prospective on a physical space.
Recently, drones have made huge waves in the news, real estate industry, and advancements in aerial photography and cinematography.
In 2016, the Federal Aviation Administration made it much easier for businesses to operate drones. The FAA announced operational rules that permit the flight of drones as long as they meet a set of requirements including weighing less than 55 pounds, adhering to existing registration requirements, and drone pilots must pass an unmanned aircraft operator test.
At the end of the year, Realogics Sotheby’s International Realty creates a list of the top 10 listing sales where a RSIR broker represented the seller.
I was fortunate enough to represent some fantastic clients in 2016, including the sellers of an amazing property on Bainbridge Island which sold for $5,970,000 and landed at the number 5 spot on the list...