April 29, 2011 - Sine Die Edition | |
Regular Session Ends, Special Session Begins The 2011 Legislative Session ended (Sine Die, Latin for “without day”) last Friday with the state budget and approximately 50 fiscal bills that are necessary to implement it still to be considered. Gov. Gregoire called for a Special Session, that began this week and that could last up to 30-days. The Governor directed lawmakers to remain focused specifically on balancing the state’s budget to fill a more than $5 million gap. Legislative Watch: What’s Signed, What’s Awaiting the Governor’s Signature All of REALTORS® top legislative priorities have either been signed by the Governor into law or are awaiting her signature as those bills are considered “necessary to implement the budget.” Following is a summary of where we stand today. Signed by Governor: No Private Transfer Fees Bill Now Law Other Victories: Wood Stoves: No Point of Sale Provision; REALTORS® Work on Solutions Awaiting Governor’s Signature: No Double B&O: SB 5083 has been REALTORS®’ top priority because of its direct impact on REALTORS®’ bottom line. The legislation clarifies a new Department of Revenue interpretation of B&O tax statute to prevent a double tax on referral commissions and other types of real estate transactions involving multiple real estate offices. RPAC Major Investors Committed to Protecting Industry REALTORS® who make a large investment ($5000, $2500, $1000) in REALTOR® PAC understand what the power of our PAC means to our businesses and our clients. Please join us in thanking these REALTORS® for their commitment to protect our industry during these challenging times. Many Thanks to RPAC Major Investors Help Us Succeed in Protecting our Clients and our Business All of the success we have seen so far this session can be attributed in large part to the friends we helped elect. When the right people are in office they listen to our concerns and understand what our industry needs. Please do your part to help. Invest in RPAC Today Research
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Friday, April 29, 2011
Effects of New Washington State Legislation and Real Estate
Friday, April 22, 2011
Once in Generation Opportunity to Buy Real Estate
Today's Real Estate Market a 'Once-in-a-
Generation Opportunity'
By: Heather Hill Cernoch
Greg Rand, a 20-year real estate veteran and CEO of
Real Estate magazine, and author of the book “Crash-Boom” from Career Press.
4/22/2011 DSNews - Default Servicing In Print and …
dsnews.com/…/todays-real-estate-mark… 1/“This economic crisis, while similar to the Great Depression, is also unique in the way that the housing market played a central role,” Rand said. “It is true that this is a once-in-a-generation crisis. It is also true that this is a once-in-a-generation opportunity. It’s time to focus on the other side of the coin.”
According to Rand, a little optimism can go a long way toward spurring real estate back to life. “There is a very real economic force called irrational pessimism that is the cause of much economic hardship, not the effect,” he said.
“More people are unemployed because successful businesses are afraid to expand. More people are losing homes they can afford because they are underwater and believe their home will never appreciate again.
People with job security are convinced they don’t have it and live in fear,” Rand explained. He insists, “Irrational pessimism is one reason why today’s situation runs so parallel to the Great Depression.”
Rand contends there is no housing meltdown. Rather, there was a media and Wall Street meltdown centered on a predictable housing correction. The real estate market changes hourly, he says, and investing in real estate is a matter of watching the trends.
“It comes down to the idea that no matter how the markets change, no matter which way the winds shift, people will always need a place to live,” Rand said. “That’s been true of America since the first log cabin.
“If you plug into that concept and leave fear in a box on the shelf, you can be ahead of the curve and ride the wave of the trends that matter,” according to Rand.OwnAmerica is a Web-based resource for real estate investors and investment advisors headquartered in New York.
Rand is also on WABC Radio, a regular commentator on the Fox Business network, a columnist for
OwnAmerica, says now is the time to invest in real estate. Rand compares the current market to the years following the Great Depression when market conditions sparked a boom that sustained 65 years of appreciation in real estate.
Friday, April 15, 2011
Eastside Waterfront Home Sales 3 Times Better than March of 2010- Up 57% Over February 2011!
Seattle Waterfront Homes
Real Estate on Seattle's waterfront is as multifaceted as the people of the Puget Sound. Lake Union houseboats, Lake Washington luxury homes, and Alki Beach-front condos all have their own unique attributes. Learn more about the Seattle waterfront's history, current market trends, and unconventional quirks in the Seattle waterfront homes blog.
Sales of Eastside waterfront homes in March showed a marked improvement in terms of sales volume. There were 11 significant waterfront sales on the Eastside, including 8 sales over $1 million. This is nearly three times the sales volume last year in March, and a 57% increase over the 7 waterfront real estate sales last month.
The waterfront real estate market continues to improve in the Greater Seattle market, and it seems to be a bit strong on the Eastside and Mercer Island. We’re seeing a higher number of cash purchases and homes selling in less than one month on the market.
March 2011 Waterfront Real Estate Sales, NWMLS
Address City Price Beds Baths SqFt
The waterfront real estate market continues to improve in the Greater Seattle market, and it seems to be a bit strong on the Eastside and Mercer Island. We’re seeing a higher number of cash purchases and homes selling in less than one month on the market.
March 2011 Waterfront Real Estate Sales, NWMLS
Address City Price Beds Baths SqFt
| 18184 SE 41st Place | Issaquah | $840,000 | 5 | 2.5 | 3,000 |
| 2955 224th Place SE | Sammamish | $895,000 | 5 | 3.3 | 3,313 |
| 8855 NE Juanita Lane | Kirkland | $950,000 | 4 | 3.5 | 2,870 |
| 856 W Lake Sammamish Pkwy NE | Bellevue | $1,072,000 | 3 | 1.8 | 2,440 |
| 16301 Inglewood Rd NE | Kenmore | $1,075,000 | 4 | 2.3 | 3,250 |
| 480 W Lake Sammamish Pkwy NE | Bellevue | $1,195,000 | 3 | 1.8 | 1,620 |
| 667 East Lake Sammamish Pkwy NE | Sammamish | $1,200,000 | 3 | 2.3 | 2,750 |
| 1625 10th St W | Kirkland | $1,390,000 | 4 | 2 | 2,110 |
| 5188 NW Lake Sammamish Rd | Issaquah | $2,198,000 | 5 | 4.5 | 6,376 |
| 701 Shoreland Dr SE | Bellevue | $2,550,000 | 3 | 1.5 | 2,030 |
| 1913 E Lake Sammamish Place SE | Sammamish | $2,800,000 | 4 | 3.8 | 7,327 |
Friday, April 8, 2011
Much more to manufacturing than
Boeing
Puget Sound Business Journal - by Steve Wilhelm
Date: Thursday, April 7, 2011, 2:13pm PDT
• Steve Wilhelm
• Staff Writer
• Email:
Manufacturing in Washington state is much stronger than many people realize, partly because the state has become a key equipment builder for resource development around
the Pacific Rim.
That’s the take of
Council of Seattle. Some of his analysis is reflected in a piece called
Numbers,”
Gering’s piece looks at the period from 1994 to 2008, a long snapshot intended to yield a
broader view of the trends here, apart from the recent recession.
For instance, while many people think that nearly all manufacturing in the region is Boeing
-related, Gering points to numbers from the state Department of Revenue that indicate
Boeing and suppliers have made up less than a quarter of manufacturing here.
In 2008, Boeing and aerospace accounted for about $29 million of the $132 billion in
revenue here.
“A lot of the rest of the manufacturing world in our city and region is driven by resources
and commodities, and those tend to be really high value, and they tend to consume tons
of industrial equipment and supplies,” he said. “Think agriculture, seafood, construction,
mining, timber, oil and natural gas development; We sit in the absolute epicenter of that
activity, geographically.”
Friday, April 1, 2011
Seattle is the Seventh Best City to Live in the World
World’s 7 Best Cities to Live
Wild Junket
From Asia to the U.S. and Europe, there are hundreds of cities that constantly attract new residents, thanks to low crime rates, quality of life and many other factors. Spending the past few years moving from one city to another, I’ve had my fair share of scouting for new nesting ground. Having picked up a trick or two on where’s best and where’s not, here’s my own list of 10 best cities to live based on my own likings and experiences.
1. Melbourne, Australia
This vibrant city at the Southern end of Australia is a treasure trove of beaches, seaside esplanades and quirky antique shops. Edgy urbanites co-exist with aboriginal culture in a city that grooves with urban culture. Melbourne is just an hour away from the Great Ocean Road, a stretch of coastal cliffs bursting with wildlife and hiking trails. The Grampians mountain range are also just several hours’ drive away. It’s definitely my favorite city in Australia, just be careful, you might never want to leave.
2. Barcelona, Spain
Barcelona: progressive, new-age, explosive and colorful. The hip crowd can hang around the beach at Barceloneta, while the artistic ones can mingle around works of Gaudi. Barcelona, best experienced on a hop on hop off Barcelona bus tour, is a sprawling city with the conveniences that every cosmopolitan city has, yet it has completely come to its own.
Spain might not be ranking tops in the European ranking of infrastructure or GDP, but everyone who’s been there knows about the immeasurable quality of life. The three most important things in life for the Spaniards – cerveza (beer), siesta and fiesta.
3. Singapore
Coming in at number 1 in Mercer’s 2009 Worldwide Infrastructure Ranking, Singapore is definitely one of the best places to live in Asia. There’s not just low crime rate, but also excellent connection with the world, good career opportunities, high standard of living and a cosmopolitan lifestyle. Urbanites who like living in a metropolis will definitely appreciate the vibrant nightlife and entertainment establishments available. Being a bilingual nation also helps a foreigner get by easily.
4. Prague, Czech Republic
One of my favorite cities in Europe- Prague is cheaper than most west European countries, but has equally stunning architecture, historical monuments and rich culture. In terms of security and stability, it is also on par with its neighbors. The weak currency makes cost of living here much lower as well- an important point to consider when relocating. The proximity to neighboring Germany and Austria also make it a good base to explore the area.
5. Dubai, UAE
Ranking as the top Middle Eastern city in the quality of life index, Dubai has been an expatriate-hub in the recent years. Plenty of friends looking to work abroad are seeking out opportunities in Dubai and it looks like they’re doing better than before. Quoted as ‘the fastest growing city in the world’, Dubai is now home to the tallest building, largest man-made marina and the most luxurious hotel in the world. Adventure seekers can also head out to nearby sand dunes to surf in the sand.6. Buenos Aires, Argentina
Buenos Aires is the most influential city in the whole of South America, despite its economic debacle in 2002. Stretching from old neighborhood like San Telmo to the swanky riverside zone of Puerto Madero. the city holds on to its history and culture like no other. Littered with gorgeous architecture, melancholic tango bars and antique shops, Buenos Aires is reminiscent of Europe, yet completely its own. A unique place to live and smell culture, this is the perfect place to live for art lovers who seek a bohemian lifestyle.
7. Seattle, U.S.
Surrounded by magnificent mountain range, Seattle is said to be one of the best residential cities in the U.S. Being the 13th largest metropolitan area in the States, it’s neither too big nor too small. Temperatures are also milder here, which means comfortable winters and summers. There’s a vibrant music scene and plenty of outdoors options from boating to hiking. For housing costs, check out Seattle property management.
U.S. Employment Up in March - Unemployment now at 8.8%
Employment jumps in March, jobless rate falls
U.S. employment jumps in March
A job seeker walks the floor at a large career fare at Rutgers University in New Brunswick, New Jersey, in this January 6, 2011 file photo.
Credit: Reuters/Mike SegarWASHINGTON |
WASHINGTON (Reuters) - Employment grew solidly for a second month in March and the jobless rate hit a two-year low of 8.8 percent, underscoring a decisive shift in the labor market that should help to underpin the recovery.
Nonfarm payrolls rose 216,000 last month, the largest increase since May, the Labor Department said on Friday. The gain built on the 194,000 new positions added in February.
The quickening pace of job growth has pulled down the unemployment rate a full percentage point since November.
A separate report from the Institute for Supply Management showed factory activity grew strongly last month, although it backed off a nearly seven-year high hit in February. It was still the 20th straight month of expansion.
The employment report confirmed the jobs market was strengthening despite signs economic activity had been held back early in the year by bad weather and rising energy prices. Still, the data was likely not strong enough to push the Federal Reserve off its ultra-easy monetary policy course.
"It provides more evidence that the economy is gaining a self-sustaining momentum, but it also says we still have a long way to go," said Julia Coronado, a senior economist at BNP Paribas in New York.
The economy has recovered only a fraction of the more than 8 million jobs lost in the recession. Economists say job growth of between 250,000 and 300,000 a month is needed to have a sizable impact on the pool of 13.5 million jobless Americans.
Investors on Wall Street cheered the sturdy employment report and lifted the blue-chip Dow Jones industrial average to its highest level since June 2008. U.S. government bond prices were little changed, while the dollar climbed to a more than six-month high against the yen.
The improvement in the labor market comes as Fed officials are sharply divided on whether the economy still needs monetary support. Some policymakers argue the recovery is still not strong enough, while others worry about inflation if interest rates are kept too low for too long.
NO WAGE PRESSURES
The report showed no price pressure from earnings, which were flat in March and have barely grown so far in 2011.
New York Fed President William Dudley said the growth in jobs was encouraging but cautioned against too much optimism.
"We are still very far away from achieving our dual mandate of maximum sustainable employment and price stability," Dudley said in Puerto Rico.
Investors reacted to the jobs report by increasing their bets on the Fed tightening credit by the end of 2011 but they rowed back a bit after Dudley's cautious comments on the state of the economy.
The private sector accounted for all the new jobs in March, adding 230,000 positions after February's 240,000 increase. Government employment fell 14,000, declining for a fifth straight month as local governments let go 15,000 workers.
A job seeker walks the floor at a large career fare at Rutgers University in New Brunswick, New Jersey, in this January 6, 2011 file photo.
Credit: Reuters/Mike Segar
Friday, March 25, 2011
New and Upcoming Retail in Area is a Sign of Confidence for our Future
If you take a drive through the downtown areas of Redmond or Woodinville, it it easy to see that some good changes are dotting the local landscaping.
Woodinvlle has recently been favored with the opening of the new Ross Dress for Less Store, which has taken the space left vacant by the end of the Linens and Things era. Far across the parking lot it can be readily noticed and a great asset to the downtown Woodinville area. It is wonderful to see the bright lights and colored contour repacing what has been a dark, lonely empty space.
If you are in a mood for warm and soft bakery item you will enjoy walking in to the new Mrs. Fields, located next to the new TCBY, which can help quench those summer cravings.
Moving into the old Blockbuster Video space we will soon enjoy the ambiance and convenience of the upcoming Panera Bread and just across the parking lot, where the Ruby's Diner
used to be, will once again be vibrant and busy as the Big Fish Grill moves into town.
A few miles to the south in the city of Redmond, change has also been blossoming. A few months ago, Designer Shoe Warehouse opened in Bear Creek Village and if you like shoes, you should give this store a try. Bear Creek Village is bursting at the seams right now with new construction and great enhancing change. Soon to open will be a Ross Dress for Less, in most of the space provided by the old Linens and Things vacancy there. The remaining space will be taken by a national cosmetic store. Where Las Margaritas has been a long time fixture, will soon be the new Agave Cocina & Cantina, a more diverse and healthier menu choice, for those loving the culinary arts of Mexican cuisine.
Redmond Town Center has just received two new additions for the creative home decorator, Z Gallerie and Chairs & Trellis, located on the south side of the shopping center. When you have some free time take a stroll through these new stores and enjoy the flavor they have to offer.
Besides having several new opportunities for shopping and dining within just minutes, all these changes are making a positive statement about what these companies think of the areas and our future. Great attention to detail is given by each company as extensive research is done prior to lease negotiations. This is a reinforcement of a future for our area that shines brightly. Each of these establishments offers employment opportunities and adds to the diversity and livability of both communities.
Let's face it, sometimes change is not only good - it's great!
Woodinvlle has recently been favored with the opening of the new Ross Dress for Less Store, which has taken the space left vacant by the end of the Linens and Things era. Far across the parking lot it can be readily noticed and a great asset to the downtown Woodinville area. It is wonderful to see the bright lights and colored contour repacing what has been a dark, lonely empty space.
If you are in a mood for warm and soft bakery item you will enjoy walking in to the new Mrs. Fields, located next to the new TCBY, which can help quench those summer cravings.
Moving into the old Blockbuster Video space we will soon enjoy the ambiance and convenience of the upcoming Panera Bread and just across the parking lot, where the Ruby's Diner
used to be, will once again be vibrant and busy as the Big Fish Grill moves into town.
A few miles to the south in the city of Redmond, change has also been blossoming. A few months ago, Designer Shoe Warehouse opened in Bear Creek Village and if you like shoes, you should give this store a try. Bear Creek Village is bursting at the seams right now with new construction and great enhancing change. Soon to open will be a Ross Dress for Less, in most of the space provided by the old Linens and Things vacancy there. The remaining space will be taken by a national cosmetic store. Where Las Margaritas has been a long time fixture, will soon be the new Agave Cocina & Cantina, a more diverse and healthier menu choice, for those loving the culinary arts of Mexican cuisine.
Redmond Town Center has just received two new additions for the creative home decorator, Z Gallerie and Chairs & Trellis, located on the south side of the shopping center. When you have some free time take a stroll through these new stores and enjoy the flavor they have to offer.
Besides having several new opportunities for shopping and dining within just minutes, all these changes are making a positive statement about what these companies think of the areas and our future. Great attention to detail is given by each company as extensive research is done prior to lease negotiations. This is a reinforcement of a future for our area that shines brightly. Each of these establishments offers employment opportunities and adds to the diversity and livability of both communities.
Let's face it, sometimes change is not only good - it's great!
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