Community • October 18, 2021

Windermere Foundation Approaches $1.5 Million Raised in 2021

by Glenda Krull

Thank you Sandy Dodge at Windermere for writing this post about the impact Windermere offices are making on their local communities!

Windermere offices across the Western U.S. have remained committed to serving their communities in 2021, collectively raising nearly $1.5 million so far this year alone, pushing the foundation’s grand total raised since 1989 to nearly $45 million. After a successful Community Service Day in June and a first half of the year which saw over $1 million raised, Windermere offices have continued to give back this summer. Here are some recent highlights from across our network.

Windermere Utah

Windermere Utah has always been deeply rooted in its community, and 2021 has been no different. This year alone, they have hosted multiple fundraisers and supported several organizations to affect positive change in their community.

One of the greatest challenges the COVID-19 pandemic has put on schoolchildren is access to technology. After searching for a way to provide digital access to local schoolchildren, Windermere Utah came across the organization Spy Hop, based in Salt Lake City. Spy Hop is a digital media arts center that provides classes in film, music, audio, and design for students between the ages of nine and nineteen. They offer mentoring and host technology drives to provide computers for students in need through a program called the Technology Liberation Project. Windermere Utah donated $3,000 to support Spy Hop’s programs while sponsoring their technology drive in August.

The office also rallied together to support Lincoln Elementary School. As a Title I school, they cannot ask for supplies or funds, often leaving them underfunded compared to other schools in the area. Windermere Utah donated $1,000 for kids to purchase the supplies they need for the school year.

A group of people inside a school hold up a check for one-thousand dollars.

From Left to Right: Misty Medina, Laurann Turner, Lincoln Elementary Rep, Shawnee Cooper, Lincoln Elementary Rep, Michelle Adkins, Chelle Preslar, Kelly Silvestor, and Stephanie Vera

Windermere Evergreen – Evergreen, CO

Windermere Evergreen has close ties to the local Rotary Wildfire Ready program and given the prevalence of wildfires across the Western U.S. in recent years, the office was inspired to tap their Foundation resources to support local wildfire relief efforts. John Putt–managing broker at Windermere Evergreen—is a member of the Rotary Wildfire Ready leadership council. A former paramedic and firefighter, he is passionate about providing resources and education to mountain communities regarding wildfire preparedness. After trying to come up with ways to support the program, they settled on a classic method of bringing the community together—a good old tailgate party. The office donated $1,000 to support the Rotary Wildfire Ready program, and the first annual Windermere Foundation Tailgate Party saw members of the community come together from all corners of town.

The Evergreen, Colorado Rotary Wildfire Ready firetruck.

Windermere Spokane – Spokane, WA

After hosting a blood drive earlier this year, Windermere Spokane has continued to find ways they can provide for those in need in their community. In early September, they turned their attention toward Spokane’s youth. When they saw the Spokane branch of Volunteers of America announce that they were planning to move their Crosswalk Youth Shelter across town to a new facility, the office jumped at the opportunity to help. Windermere Spokane held a matching fundraiser that ultimately raised over $21,000 for the new shelter. But the office’s recent foundation efforts didn’t stop there.

In preparation for the new school year, the office held their Spokane Sock and Shoe Event to support local low-income and homeless grade school-aged kids with new pairs of shoes and socks. This year’s event provided new shoes and socks for 116 kids.

Two women with masks on take a selfie during a clothing drive for local schoolchildren.

Left to Right: Windermere agents Blythe Thimsen and Brenda McKinley

A woman in mask holds up pairs of socks during a clothing fundraiser for local schoolchildren.

Windermere agent Brenda McKinley

Kritsonis Lindor Team — Windermere Bellevue South – Bellevue, WA

Windermere agents John Kritsonis and Karl Lindor of Kritsonis Lindor have been strong supporters of the Issaquah Food & Clothing Bank in years past, but the continued challenges of the COVID-19 pandemic made it clear that the IFCB needed their support more than ever. After food insecurity for children in their county jumped 54% in 2020, John and Karl knew they had to go all-in for their community. They doubled down on their fundraising campaign with a $25,000 match, ultimately raising $55,958. On August 20, their team spent the day volunteering at the food bank, putting together produce bags, and passing out groceries to families. All in all, they were able to provide groceries to over 120 families and over 350 kids. Their donations will support IFCB’s summer lunch program, which feeds roughly 300 children weekly during the summer.

To learn more about the Windermere Foundation, visit windermerefoundation.com. To help support programs in your community, click the donate button below.

Uncategorized • September 27, 2021

9/27/2021 Housing and Economic Update from Matthew Gardner

by Glenda Krull

This video is the latest in our Monday with Matthew series with Windermere Chief Economist Matthew Gardner. Each month, he analyzes the most up-to-date U.S. housing data to keep you well-informed about what’s going on in the real estate market.

Introducing Matthew Gardner, Windermere’s Chief Economist. Read on about what real estate updates he has for us this month.

Today we are going to take a look at the latest Home Purchase Sentiment Index survey that was just put out by Fannie Mae. And for those of you who may not be familiar with this survey, it’s actually pretty important and one that I track closely as it’s the only national, monthly, survey of consumers that’s focused primarily on housing.

The survey shows the responses of 1,000 consumers across the country to roughly 100 survey questions on a wide range of housing-related topics. Now, don’t worry, we aren’t going to look at all 100 questions – just the ones that solicit consumers’ evaluations of housing market conditions and that also address topics related to their home purchase decisions.

So, as you can see here, the overall index was trending higher pretty consistently until the pandemic happened which had massive, but temporary, impacts. And looking the last 3-years, you can get a better idea as to the speed of the pandemic induced drop – pretty remarkable.

Now, you will also see that the index recovered quite quickly; however, it fell again last fall as the pandemic was not going away at the speed many had hoped for – it rose again this spring but has been pulling back for the past few months but, that said, the August index level essentially matched the level seen in July.

Now let’s look at the questions that are used to create of the index number and how consumers responded.

When asked whether it was a good time to buy a home, the percentage who agreed with that statement rose from 28 to 32%, while the share who thought that it is a bad time to buy dropped from 66 to 63%. And, as a result, the net share of those who say it is a good time to buy jumped 7 points month over month and its notable that this is the first time the net share number has improved in the past 4-months.

What I see here is that – although improving modestly, the general consensus is that it is not a good time to buy and that sentiment is being driven by two things: One – there are still not enough homes on the market, and two, rapidly rising prices are scaring some people.

And when asked if they thought it was a good time to sell their homes it was interesting to see that share drop from 75 to 73% while the percentage who said that it’s a bad time to sell dropped 1 point to 19% and as a result, the net share of those who said it was a good time to sell pulled back by 1% but it still indicates that more owners think that it is a good time to sell than don’t.

Looking now at the direction of home prices over the next 12-months, the percentage who think that home prices will rise fell from 46 to 40%, while the percentage who expected home prices to drop rose from 21 to 24%.

As a result, the net share of Americans who say home prices will go up dropped by 9 points – from 25%, down to 16%.

Although this may sound concerning, I should add that the share of respondents who thought that home prices will remain static over the next year rose from 27% to 31%.

On the financing side, the share who think mortgage rates will rise over the next 12 months dropped from 57 to 53%, while the percentage who believed rates would be lower rose from 5% to 6% and, as a result, the net share of Americans who believed that mortgage rates will go down over the next 12 months rose by 5%, and with 35% of respondents thinking that that rates will hold steady – it’s clear to me that a vast majority are not worried about mortgage rates rising.

The takeaways for me so far are that consumers tempered both their recent pessimism about homebuying conditions and their upward expectations of home price growth.

Most notably, a greater share of consumers believe that it’s a good time to buy a home – though that population remains firmly in the minority at only 32% – while the ongoing plurality of respondents who expect home prices to go up over the next 12 months dropped but was still well above the 24% of consumers who believe home prices will fall.

Now, there are two more questions that are worth looking at which aren’t directly related to home buyers and sellers but are still important as they look at employment and incomes.

The percentage of respondents who said that they are not concerned about losing their job in the next 12 months remains very high at 82%, but it did drop by 2 points month-over-month, while the percentage who said that they are concerned ticked up to 15% from 13%. As a result, the net share of Americans who say they are not concerned about losing their job fell by 4 percentage points month over month, but remains well above the level seen a year ago.

And finally, when households were asked about their own personal finances, the percentage of respondents who said that their household income is significantly higher now than it was 12 months ago pulled back one point to 26%, while the percentage who said that their household income is significantly lower dropped to 12%.

As a result, the net share of those who said that their household income is significantly higher than it was a year ago rose by 1 percent month over month and came in 5 points higher than a year ago. It’s also worthwhile noting that most said that their household income is about the same as it was a year ago with that share rising from 56 all the way up to 59%.

Looking at all the numbers in aggregate, the index level was relatively flat in August with three of the index’s six components rising month over month, while the other three fell, and that tells me that the continued strength of demand for housing and definitely favorable conditions for home sellers may well be offsetting broader concerns about the Delta variant of COVID-19 as well as rising inflation that have both negatively impacted other consumer confidence indices.

Most consumers continued to report that it’s a good time to sell a home – but a bad time to buy – and they most frequently cite high home prices and a lack of supply as their primary rationale.

However, the ‘good time to buy’ component, while still near a survey low, did tick up for the first time since March, perhaps owing in part to the very favorable mortgage rate environment as well as growing expectations that home price appreciation will begin to moderate over the next year. A sentiment that I personally agree with.

Well, I hope that you have found this month’s discussion to be interesting. As always if you have any questions or comments about this topic, please do reach out to me but, in the meantime, stay safe out there and I look forward the visiting with you all again, next month.

Bye now!

Community • Community • September 24, 2021

Windermere Foundation Surpasses $44 Million Total Raised

by Glenda Krull

Thank you Sandy Dodge at Windermere for this amazing news!

Since 1989, the Windermere Foundation has supported low-income and homeless families throughout the Western U.S. Earlier this year, the Foundation proudly crossed the $44 million mark in total donations.

2021 has been an active year for giving back at Windermere. Our offices have continued to support their communities during the COVID-19 pandemic, donating time and money to local organizations. In June, Windermere celebrated its 37^th Annual Community Service Day, which saw agents and staff from across the Windermere footprint show up in force to partner with local organizations serving a variety of needs. When all was said and done, this year’s Community Service Day resulted in hundreds of hours of volunteer time and over $269,000 in donations.

Through the efforts of Windermere agents, owners, and staff, the Windermere Foundation raised over $1 million in the first half of 2021. This included the Windermere Lloyd Tower office which partnered with Adelante Mujeres, an organization that educates and uplifts the low-income Latina population in the Portland area. The Windermere Coeur d’Alene office worked with Second Harvest to set up a mobile market at the Kootenai County Fairgrounds to feed those in need, and the Windermere Spokane office partnered with Vitalant to set up a blood drive for local blood banks with depleted supply due to the COVID-19 pandemic.

To learn more about the Windermere Foundation, visit windermerefoundation.com. To help support programs in your community, click the Donate button below.

Living • August 31, 2021

Windermere Living: Board it Up

by Glenda Krull

This article originally appeared in the Summer 2021 issue of Windermere Living

By Naomi Tomky | Photography by Carly Diaz | Food Styling By Anne Parker

For an intimate gathering or celebration, or just to change up a weeknight dinner, charcuterie boards are impressive crowd-pleasers.

Once an innocuous appetizer, charcuterie boards are stealing the show as stunning smorgasbords studded with salami roses and a rainbow of ripe vegetables, flamboyant fruits, and sweet and savory snacks. Traditionally, charcuterie boards are composed of meats and cheeses—the name even comes from the French for “cooked flesh.” A part of French culinary art since at least the 15th century, they were considered the food of the bourgeoisie for hundreds of years before catching on with higher-end cooks. Now, they return to accessibility as people find ways to customize their boards and feature all sorts of spreads. Trays and wood blocks can be artfully piled with everything needed for a build-your-own brunch buffet, a vegan midday meal, or an elegant soirée starter. Boards tap into a host’s creative side as an easy, fun way to put out an incredible spread that pleases every type of person. “I love making them for entertaining,” says Amy Holt of Peas Thank You in Venice, California, “because it’s a centerpiece for conversation.”

Photography by Carly Diza – Food Styling by Anne Parker

At cocktail parties, casual gatherings, or before a sit-down dinner, charcuterie board–style spreads allow people to create their own bites and discuss what they paired and how they ate it—functioning as both food and icebreaker. The chameleon of catering, boards fit in as easily at a small family picnic as they do at an upscale event, while also giving people more flexibility than a set menu: hungrier guests can make almost a full meal of the offerings, while lighter eaters can sparsely snack. But the ultimate asset of an attractive board to anchor an event is the freedom to indulge artistic whims in building a creative, edible assortment. Expert charcuterie board makers from around the West talk about how they design their signature creative boards with both classic snacks and unorthodox offerings in elegant arrangements for family, friends, and gatherings large and small.

Magnificent Morning

When a client for her charcuterie board business requested a bagel spread for a bar mitzvah, Sylvie Stulic, of the Bay Area’s On the Board Gourmet, saw it as the perfect opportunity to get creative. Now it’s part of her standard offerings, and she’s gained knowledge on the best way to build a bagel board.

Functional Design

The big size and flavor of caperberries always draws wows, says Stulic, while she adds extra brightness with red sweetie drop peppers. “I love to include a floral element,” she says, which may be actual (edible) flowers or cucumbers styled into roses. One standard bagel fixing not found on the bagel boards, though, are onions. “They contaminate the other flavors,” Stulic explains.

Tips of the Tray

Unless the board is enormous, Stulic slices and cuts the bagels in half so that they don’t visually overwhelm everything else. She uses the halves to create a line down the middle and creates symmetry with the colors around it. Aim to keep the bagels surrounded by dry ingredients so they don’t get soggy on the board. For serving a crowd or an event, bagels work well because they are traditionally eaten at room temperature. But at home, she branches out, creating similar breakfast spreads for her family out of crepes, waffles, and pancakes.

Photography by Carly Diza – Food Styling by Anne Parker

Creative Colors

The rainbow platters made by Amy Holt of Peas Thank You in Venice, California, stand out for their bold use of patterns, whether as a fun fruit display, a vegan snack selection, or a traditional meat and cheese board.

Shop Savvy

“Start at the farmers market,” says Holt. That’s the best place to find natural-looking fruits and vegetables, like radishes with their stems and broccolini with flowers. But even if limited to a grocery store, she can look for the same effect with tomatoes on the vine and celery with nice leaves to use as a garnish. Instead of buying pre-sliced meats or trying to slice them at home—especially for small boards that only need a few slices of each type of meat—Holt uses the deli counter at the grocery store, which will cut them to order. Holt uses honeycomb on cheeses and tops a chia seed pudding with toasted coconut to add special touches.

Tips of The Tray

Bring variety in shapes as well as color by cutting and stacking the food creatively: put berries on a skewer, clip the grape bunches into manageable sizes, and fold the meat in different ways. Start with the biggest things first by plating any dips or spreads. Holt uses a coconut chia seed pudding as the anchor to her fruit boards and hummus on her vegan spread. Arrange foods in groups of three, and always use odd numbers, as they are more naturally pleasing to people. Use triangle formations to direct the eye across platters, drawing attention to the whole board, rather than a single spot or line. Finish by tossing a small, attractive garnish all over the board—berries, little tomatoes, or cilantro flowers—to add a decorative touch.

Photography by Carly Diza – Food Styling by Anne Parker

Edible And Upscale

When the fashion industry slowed down during the pandemic and the events Rona Argana once planned dried up, she used her sharp eye for design to craft grazing boxes as gifts to send to her friends. That turned into For Love and Graze, her North Hollywood, California business that spins casual snack platters into eye-catching displays.

Ingredients for Elegance

Use the green color of leaves to signify freshness, says Argana. She likes mint sprigs in the spring, rosemary and sage in the winter. (Keep them well hydrated ahead of time, so they last longer.) Fancy can still be fun, and she loves to use letter-shaped cookie cutters and slices from a log of mozzarella cheese to add celebratory messages. Savory needs a balance of sweet, so even her traditional snack boards always include a sugary nibble like chocolate-covered almonds or yogurt-covered pretzels.

Tips of the Tray

Start by setting out a neutral color palette of the crackers, meats, and cheeses. Then bring in a limited range of colors, sticking to greens, oranges, and reds. Balance each color with multiple tones and items: use both olives and grapes for green and offset the reds from berries with similar shades of citrus. Most of all, Argana says, don’t forget the purpose of the creation, and consider the flavors as much as the colors: “Make sure it tastes as good as it looks.”

Selling • August 31, 2021

5 Green Upgrades that Increase Your Home Value

by Glenda Krull

Selling a home begins with understanding how much it’s worth. After an initial assessment, you may want to make some updates to increase the value of your property. There are several ways to do that, including boosting your curb appeal or making renovations with significant ROI potential. As you research potential projects, keep in mind that making your home more sustainable can boost its value to potential buyers. Talk with your agent to identify which of these five upgrades makes sense for your home before it hits the market. Thanks Sandy Dodge at Windermere for these helpful tips.

Five Green Upgrades that Increase Your Home Value

1. Energy-Efficient Appliances

It’s no secret that appliances use a significant amount of energy, which means there is plenty of opportunity to cut back on their output. Installing energy-efficient appliances can do wonders for creating a more eco-friendly home, while appealing to buyers who value sustainability. When shopping around, look for appliances with high-efficiency or Energy Star certifications. They may cost more to purchase, but their ability to generate long-term savings is a concrete selling point.

2. Tankless Water Heater

As the shift toward eco-friendly appliances has picked up steamed, so too has the preference for tankless water heaters. Whereas standard storage tank water heaters keep a reservoir of hot water at the ready, tankless water heaters heat your home’s water supply on-demand. It’s similar to a new car that shuts off its engine when sitting idle, as opposed to an older car whose engine is running all the time. Tankless water heaters don’t come without their share of costs. An upfront investment will be required for purchase and installation, but it will deliver immediate savings on energy bills.

3. Solar Panels

There are many benefits to going solar, but for sellers, the positive effect solar energy has on home values is chief among them. A solar-capable home is a surefire way to drum up buyer interest. By taking care of the upfront installation costs, you allow the buyer to focus on the benefits of solar energy, i.e. the long-term energy savings, the reduced utility bills, and the reduction in the property’s carbon footprint. Work closely with your real estate agent to understand how solar energy has affected home prices in your area to get an idea of the project’s ROI potential.

A man installs solar panels on the roof of a house.

Image Source: Getty Images

4. Water Filtration

Installing a home water filtration system is one of the best ways to cut down on your home’s waste while increasing its value. These filtration systems appeal to buyers for a variety of reasons. Of course, there are an array of health benefits to having filtered water running through the entire house. Buyers can be assured that the water is safe to drink, they will be bathing and showering in clean water, and there is a reduced risk of plumbing issues due to contaminated water. Beyond the personal health benefits, it can also cut down on bottled water costs and the amount of landfill waste produced within the home.

5. Energy-Efficient Windows

Alternatives to traditional windows have become more popular in recent years. Energy-efficient windows are better insulated, which helps to regulate temperatures inside the home and protects against harmful ultraviolet rays. Their ability to help regulate your home’s heating and cooling leads to energy savings and reduced carbon emissions. Energy-saving windows can be highly valuable to potential buyers, especially if you live in a climate with extreme temperatures.

Uncategorized • August 24, 2021

How to Choose the Best Flooring

by Glenda Krull

Thanks Sandy Dodge at Windermere for this helpful post.

Flooring is a key component of a home’s design and can often be the centerpiece of a renovation or remodel. Because it covers such a large surface area it will significantly impact the look and feel of your home, so choosing the right material can be stressful. Weigh your options before making a decision. Learn about the different types of material, assess your budget, and form a plan for installation.

How to Choose the Best Flooring

Room Function

How you spend time in any given room will help you decide which type of flooring is best. In your home office, choose the flooring that best accommodates your working needs. Carpet can be comforting while hardwood and laminate are more durable. Entryways, mudrooms, playrooms, and pet rooms will undoubtedly see their fair share of dents, cracks, and dings, so a resilient material is best for these areas. Consider materials that are strong and easy to clean, such as tile. The kitchen is a high-traffic area that is constantly being cleaned and re-cleaned. Explore solid yet easy to clean materials like vinyl, hardwood, and ceramic tile. If these common flooring materials aren’t to your liking, certain alternative flooring options may appeal to you, including bamboo, cork, and concrete.

Budget

Your budget will be a major deciding factor in which type of flooring you ultimately install. Are you replacing your flooring as part of a larger, full-scale remodel? If so, there may be other projects that will warrant a larger share of your budget. Are you looking to make the flooring a selling point of the home? If so, you’ll likely dedicate more money towards the material and installation. Talk to your agent about which types of flooring have the best resale value and what buyers in the area are looking for. For example, if you live in a climate that experiences cold temperatures, heated flooring may give your home a competitive advantage over other listings when it comes time to sell.

Installation

There are two approaches to a flooring installation: DIY or professional. Installing your flooring on your own is a great way to save money on the project, but it’s also a lot of added responsibility. Before making the decision to install on your own, understand the risks involved with the project and the time it will take to complete it. Vinyl and laminate flooring tend to be easier to install DIY. Hiring a professional will come with increased costs, but you’ll be paying for higher quality work that will increase the value of your home. More involved flooring installations such as hardwood are usually best handled by a pro.

Style & Color

After your budget has been set and you’ve decided on how to install, then comes the fun part. When choosing the style of your flooring, think about how it will interact with the space. Will the flooring be the focal point of the space? Will it compliment the features of the room and the surrounding décor? Knowing these answers will help to sort out the fine details, such as the specific shade of tile or the grain of wood.

Maintenance

At the end of the day, you may simply be looking for flooring that’s easy to take care of. In that case, explore common low-maintenance materials like vinyl and laminate. Vinyl flooring—whether it’s tile, sheet, plank, or peel-and-stick—requires little care compared to high-maintenance flooring such as solid or engineered wood.

Selling • August 20, 2021

The Difference Between a Comparative Market Analysis and an Appraisal

by Glenda Krull

Thanks Sandy Dodge at Windermere for explaining the difference.

It can be difficult for sellers to distinguish between two methods of finding the value of their home: a Comparative Market Analysis (CMA) and a home appraisal. Though they share many similarities, there are key differences in how the two approaches ultimately arrive at a listing price for your home.

The Difference Between a Comparative Market Analysis and an Appraisal

Comparative Market Analysis (CMA)

A CMA is conducted by an agent using their knowledge of the local market in conjunction with information available to them on the multiple listing service (MLS), which contains data on sold homes and market trends. A CMA helps to price the home more accurately, keeping the property competitive in the current market. For those who are thinking of selling their home For Sale By Owner (FSBO), it’s worth noting that you will not be able to conduct a CMA on your own, since, among other things, access to the MLS is exclusive to real estate agents.

Your agent’s analysis accounts for the various factors that influence home prices to arrive at an accurate estimate of your home’s value. A CMA compares your home to others in your area that have either recently sold, are currently on the market, or had previously listed but have since expired, typically using data from the past three-to-six months. Comparable homes, or “comps,” are homes whose characteristics are similar to your own, such as the housing type, condition, and the square footage and property size. A thorough CMA will provide information on what homes in your area are selling for, how long they were on the market, and the difference between their listing and sold price, and will list a low, median, and high selling price for your home.

Appraisal

The main difference between an appraisal and a CMA is the personnel involved. Whereas a CMA is conducted by a real estate agent, an appraisal is carried out by a licensed appraiser on behalf of the bank. Once a buyer applies for a loan to purchase your home, the bank will order an appraisal of the property. Though appraisers use methods of comparison similar to an agent’s CMA, unlike a real estate agent, bank appraisers have no vested interest in the sale of the home. The goal of an appraiser’s visit is to determine your home’s fair market value to ensure that the bank isn’t lending more money to the buyer than needed.

Community • August 6, 2021

Windermere Partners with UW to Launch Internship Program

by Glenda Krull

Windermere is investing into others! Thanks Shelley Rossi for writing this post.

The University of Washington College of Built Environments (CBE) announced a new paid internship program, Aspire, that offers financial support, mentoring, and skill-building through academic and professional office settings to students, with a focus on those from historically underrepresented or marginalized groups. In partnership with Windermere Real Estate, this CBE-led internship started on July 13, and focuses on the single and multi-family residential real estate market in the greater Seattle area.

During the eight-week paid summer internship, the eight interns will work and study for 25 hours per week. They will interact with real estate industry and academic leaders, while learning about the important role homeownership plays in building thriving communities. The program participants will gain skills in financial principles, sales, marketing, intercultural fluency, and leadership. At the end of the internship period, interns will present their work to industry professionals and participate in tours showcasing a range of processes in the home buying sector.

Students who complete the eight-week Aspire internship will also receive a $5,000 scholarship, funded by Windermere and awarded in Autumn 2021. This scholarship aims to help the next generation of real estate professionals lead and build our communities in inclusive and equitable ways. Windermere has committed to continuing to support this internship through the upcoming academic year and beyond.

Windermere president, OB Jacobi, stated that this partnership is a continuation of the more than three decades long relationship between Windermere and UW, which started with the first Windermere Cup Rowing Regatta in 1987, and has continued through ongoing financial gifts to both athletic and academic programs at the university.

“After learning about Windermere’s commitment to increasing diversity within the real estate industry, Renee Cheng approached us with an opportunity to partner with the College of Built Environments on the Aspire internship program,” said Jacobi. “Our goal is to inspire interest and engage students of color in the wide variety of careers and leadership opportunities available to them in real estate.”

Renee Cheng, Dean of the College of Built Environments at the University of Washington, highlighted the Aspire program’s real world learning experiences: “It can be difficult for our students to appreciate the historical role of homeownership in building generational wealth, particularly if their own lived experience includes housing insecurity. This program equips students with the context and confidence to engage with the role of home in the built environment.”

Aspire program manager Alexis Wheeler agreed, saying that “in addition to building intergenerational wealth, homeownership cultivated a sense of belonging and stability, encouraging people to grow into the fullest version of themselves and fostering vibrant communities throughout our region. Through the Aspire program, students will also develop an appreciation for this aspect of ‘home’ and its role promoting a more inclusive and equitable society.”

The Aspire internship specifically sought students from historically underrepresented or marginalized groups and/or those with lived experiences with housing insecurity. With a robust slate of over 40 applicants, the CBE and Windermere were able to select a strong inaugural cohort of Aspire interns, which includes students majoring in Real Estate and Community, Environment, & Planning (CEP), as well as majors beyond the CBE.

The Aspire Internship will run from July 13-September 1, 2021. This is an ongoing internship opportunity for CBE and other UW students, offered in collaboration with our community partners.

To learn more about our DEI Initiatives like this one, visit Windermere.com/dei.

Philanthropy • August 3, 2021

Windermere Foundation Surpasses $1 Million Raised in 2021

by Glenda Krull

The Windermere Foundation continues to make impacts in the community! Thank you Sandy Dodge at Windermere who originally wrote this post.

In the first six months of 2021, Windermere offices collectively raised over one million dollars through the Windermere Foundation. June, a month in which Windermere celebrated its 37^th Community Service Day, saw an outpouring of donations from across our 10-state footprint, bringing in over $269,000 to push the year-to-date total over $1 million. These dollars go toward supporting low-income and homeless families in the communities where Windermere offices are located. Here are some examples of how our offices have been giving back this year.

Windermere Realty Trust / Lloyd Tower – Portland, OR

Windermere Lloyd Tower can’t speak highly enough about the work of Adelante Mujeres, a local organization committed to educating and uplifting the low-income Latina population in the Portland area. The organization has a variety of programs to support women from childhood to adulthood. Their Adult Education program helps Latina women complete their secondary education and empowers them to become leaders. Empresas, a small business development program, focuses on immigrant entrepreneurs, providing one-on-one coaching and technical assistance over the course of eleven weeks. Chicas Youth Development supports over 600 girls between the ages of eight and eighteen in weekly after-school classes, designed to develop their leadership and foster academic success. In April, the Lloyd Tower office donated $5,000 to support programs like these and the small business development services Adelante Mujeres has provided local entrepreneurs throughout the COVID-19 pandemic.

The Windermere Lloyd Tower office is part of the Windermere Realty Trust network of offices in Portland, Oregon.

Windermere / Coeur d’Alene Realty, Inc. – Coeur d’Alene, ID

This past spring, Windermere Coeur d’Alene set out to make a difference in their community by helping fight food insecurity. They found the perfect partner in Second Harvest. Second Harvest brings community resources together to feed those in need and believes that nutritious food is the key ingredient for a healthy lifestyle. The office donated $2,000 to Second Harvest to set up their “Mobile Market,” a system for transporting food directly families, at the Kootenai County Fairgrounds in the heart of town. Windermere agents volunteered their time to staff the event, and the stage was set for a successful food drive. On the day of the drive, the donations poured in. Agents helped direct traffic, unloaded vehicles, distributed donations to families in the community, and cleaned up the fairgrounds afterward. Nearly 15,000 pounds of goods were donated, enough for Second Harvest to feed 209 families.

A group of people hold a Windermere Community Service Day banner.

Pictured Left to Right: Amy Smock, Mark Whitt, Midge Smock, Larry Frisbie, Paulette Fabian, Kris Arnett, Andrew Steiner, Bob Zern, Joel Greiner, John Tindall, Morgan Keller, Ryan Keller

A man unpacks boxes during a food drive.

Pictured: Mark Whitt

Windermere Stanwood Camano – Stanwood, WA

Windermere Stanwood Camano and their local YMCA have formed a tight bond over the years, partnering together to create memorable events for the benefit of the community. Whether it was supporting the YMCA while teaching children water safety or rounding up donations on behalf of the Windermere Foundation, they’ve always found a way to make a positive impact in the Stanwood-Camano community. This past April, the office set a goal of raising $10,000 for the YMCA through donations made by staff and agents, which were matched by the office’s owners, Marla and Randy Heagle. The office hit their goal and in celebration, hosted a food truck from Seattle’s renowned burger joint, Dick’s Drive In. Attendees were encouraged to round up their purchases in support of the YMCA.

A man and a woman stand together in front of a food truck.

Pictured: Marla Heagle and Randy Heagle

An aerial shot of the Windermere Stanwood Camano building.

An aerial shot of Windermere Stanwood Camano during the event.

Windermere Spokane – Spokane, WA

In April 2021, over a year after the first days of the COVID-19 pandemic, Windermere Spokane felt a call to rally their community to donate blood. The pandemic had left local blood banks depleted and in desperate need of donations. Working with Vitalant, an independent, nonprofit blood services provider in the Spokane area that focuses on providing life-saving blood and comprehensive transfusion medicine services, Windermere Spokane hosted a donation site at their office. Spokanites came out in force to support the blood drive! After all donations had been tallied, the blood drive yielded 34 units of blood.

A man sits in a chair getting his blood drawn.

Pictured: Richard Stokes

To learn more about the Windermere Foundation, visit windermerefoundation.com. To help support programs in your community, click the donate button below.

Market News • July 28, 2021

Q2 2021 Western Washington Real Estate Market Update

by Glenda Krull

The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. I hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market, please don’t hesitate to contact me.

REGIONAL ECONOMIC OVERVIEW

Employment levels in Western Washington picked up in the late spring and early summer months. The region has now recovered 168,800 of the 297,210 jobs that were lost due to the pandemic. Although the recovery is palpable, there are still 128,000 fewer jobs than there were at the pre-COVID peak in February 2020. The most recent data (May) shows the region’s unemployment rate at a respectable 5.2%. This is significantly lower than the April 2020 high of 16.8%, but still not close to the 2020 low of 3.7%. The jobless rate was lowest in King County (4.8%) and highest in Grays Harbor County (7.6%). Although unemployment levels continue to drop, we cannot attribute all the improvement to job creation: a shrinking labor force also lowers the jobless rate. In short, job recovery continues but we still have a way to go.

WESTERN WASHINGTON HOME SALES

❱ Regardless of low levels of supply, sales in the second quarter rose 45.6% year-over year, with a total of 25,640 homes sold. Although comparisons to the same quarter a year ago are not informative due to the pandemic, I was pleased to see sales increase 61.3% from the first quarter of this year.

❱ Listing activity was 42.8% higher than in the first quarter, which was a pleasant surprise. Listings rose the most in Kitsap, Clallam, Island, and Mason counties, but there were solid increases across the region.

❱ Sales were up across the board, with sizable increases in San Juan, King, Whatcom, and Snohomish counties. Only Mason County experienced sales growth below 10%.

❱ Pending sales (demand) outpaced active listings (supply) by a factor of 6. Even with the increase in the number of homes for sale, the market is far from being balanced.

A bar graph showing the annual change in home sales for various counties in Western Washington.

WESTERN WASHINGTON HOME PRICES

A map showing the real estate market percentage changes in various counties in Western Washington.

❱ Home prices rose 31.4% compared to a year ago. The average sale price was $734,567—another all-time record.

❱ Year-over-year price growth was strongest in San Juan and Jefferson counties, but all markets saw prices rise more than 23% from a year ago.

❱ Home prices were a remarkable 15.7% higher than in the first quarter of this year, possibly due in part to the drop in 30-year fixed mortgage rates between the end of the first and second quarters. That said, the modest decline in mortgage rates is certainly not the primary driver of price growth; the culprit remains inadequate supply.

❱ Relative to the first quarter of the year, San Juan (+33%), Jefferson (+24.7%), and Island (+20.5%) counties saw the fastest rate of home-price appreciation.

A bar graph showing the annual change in home sale prices for various counties in Western Washington.

DAYS ON MARKET

❱ It took an average of only 18 days for a listed home to go pending. This was 22 fewer days than a year ago, and 11 fewer days than in the first quarter of 2021.

❱ Snohomish, Kitsap, Thurston, and Pierce counties were the tightest markets in Western Washington, with homes taking an average of only 7 days to sell in Snohomish County and 9 days in the other three counties. The greatest drop in market time compared to a year ago was in San Juan County, where it took 84 fewer days to sell a home.

❱ All counties contained in this report saw the average time on market drop from the same period a year ago. The same can be said when comparing market time in the current quarter with the first quarter.

❱ It’s widely known that the area’s housing market is very tight and unfortunately, I don’t expect the number of listings to increase enough to satisfy demand in the near term. Furthermore, I’m seeing rapid growth in demand in the counties surrounding King County which is likely proof that buyers are willing to move further out given the work-from-home paradigm shift.

A bar graph showing the average days on market for homes in various counties in Western Washington.

CONCLUSIONS

A speedometer graph indicating a seller's market in Western Washington.

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

Demand is maintaining its momentum, and, even with supply levels modestly improving, the market remains extraordinarily tight.

Mortgage rates are still hovering around 3%, but the specter of them starting to rise at some point is clearly motivating buyers. I am very interested to see significant interest outside of the Seattle metro area, although King County is certainly still performing well. I will be monitoring whether this “move to the ‘burbs” is endemic, or a temporary phenomenon. My gut tells me that it is the former.

At some point, the remarkable run up in home values will slow. Affordability constraints are becoming more widespread, and even a modest uptick in mortgage rates will start to slow down price increases. It’s worth noting that list-price growth is starting to taper in some markets. This is a leading indicator that may point to a market that is starting to lose a little momentum.

The bottom line is that the market still heavily favors sellers and, as such, I am moving the needle even more in their favor.

ABOUT MATTHEW GARDNER

Matthew Gardner - Chief Economist for Windermere Real Estate

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.