Page not found – Leah Davidson https://windermereleah.com Seattle Area Real Estate, Leah Davidson, Managing Broker, Realtor Thu, 28 Mar 2024 21:00:53 +0000 en-US hourly 1 NAR Settlement Statement from Windermere CEO and Co-Presidents https://windermereleah.com/2024/03/28/nar-settlement-statement-from-windermere-ceo-and-co-presidents https://windermereleah.com/2024/03/28/nar-settlement-statement-from-windermere-ceo-and-co-presidents#respond Thu, 28 Mar 2024 21:00:53 +0000 https://windermereleah.com/?p=28897 NAR Settlement Statement from Windermere CEO and Co-Presidents by Windermere Staff Recent developments in the real estate industry concerning the settlement of a class action lawsuit by the National Association of REALTORS® (NAR) has raised a number of questions, especially as it pertains to agent compensation. For more than 50 years, Windermere has put integrity […]

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NAR Settlement Statement from Windermere CEO and Co-Presidents

Recent developments in the real estate industry concerning the settlement of a class action lawsuit by the National Association of REALTORS® (NAR) has raised a number of questions, especially as it pertains to agent compensation.

For more than 50 years, Windermere has put integrity and professionalism at the heart of our business, especially during times of change and uncertainty like we’re seeing today. Our agents take their responsibility to their clients very seriously and are committed to guiding them through any changes that may result from the NAR settlement.

There has been a great deal of coverage about NAR in the media, which has led to a tidal wave of misinformation. There is also still a lot that is unknown about how the proposed settlement will affect the home buying and selling process. With that in mind, we felt it was important to provide clarity on two of the proposed changes that will likely have the most impact on home buyers and sellers. NAR’s settlement has not yet been approved by the courts, but if it is, the following two items will go into effect in July 2024.

Buyer Agency Agreements:

Agents representing buyers in every market touched by the settlement agreement across the U.S. will be required to enter into a written agreement with their clients called a Buyer Agency Agreement. These agreements cover critical elements of their working relationship such as the term of the agreement, the exclusivity of the representation, the agreed compensation rate, and the agent’s responsibilities to the buyer. We firmly support the requirement of a Buyer Agency Agreement as an opportunity to provide increased protections for buyers and their agents and to create a more informed real estate environment for all parties involved. It’s worth noting that Buyer Agency Agreements are already required by law in certain states where Windermere operates, including Idaho, Utah, and Washington.

Decoupled Commissions:

The commissions that are paid to a buyer’s agent and a seller’s agent will be decoupled, a change that is intended to provide more transparency about how agents on both sides of the transaction are compensated. This means that what was once customary, which was for the seller to pay the entire commission to be divided between the listing agent and the buyer’s agent, will now be separated. Under the new rules, the default is that the seller will pay the listing agent and the buyer will pay the buyer’s agent. That’s not to say that the seller has lost the option to pay the buyer’s agent, and in many cases they may choose to do just that. One example might be when the buyer is using a VA home loan which doesn’t allow them to pay a commission by law, or to help a first-time buyer who lacks funding for the commission cost on top of the down payment and closing costs. It could also be a seller who understands the value that a buyer’s agent brings to the transaction and wants to ensure they are compensated for their work.

As stated earlier, there are still many unknowns about how the NAR settlement will impact the home buying and selling process, but what we do know is Windermere agents are ready to fiercely support their clients’ best interests through these changes, as they’ve always done. We will stand alongside them and continue to use our influence to advocate for a fair, transparent, and equitable real estate experience for all involved.

Thank you,
Geoff Wood
CEO & Co-President
Jill Jacobi Wood
Co-President
OB Jacobi
Co-President

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Celebration List 2023 https://windermereleah.com/2024/01/03/celebrating-2023 https://windermereleah.com/2024/01/03/celebrating-2023#respond Wed, 03 Jan 2024 02:11:52 +0000 https://windermereleah.com/?p=28733 In celebration of my closings for 2023!   For each of my clients final closing gift, I asked them to choose their most favorite charity, and here’s who I was able to support through a donation on my client’s behalf to their most cherished non-profits:   West Seattle Food Bank  – https://westseattlefoodbank.org/ United Way https://www.uwkc.org/ Highline […]

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In celebration of my closings for 2023!   For each of my clients final closing gift, I asked them to choose their most favorite charity, and here’s who I was able to support through a donation on my client’s behalf to their most cherished non-profits:

 

West Seattle Food Bank  – https://westseattlefoodbank.org/
United Way https://www.uwkc.org/
Highline Schools Foundation https://highlineschoolsfoundation.org/
Windermere Foundation (donated each month)
Sam Smith Hi Neighbor Fund https://www.homesightwa.org/sam-smith-hi-neighbor-homeownership-fund/
New Horizons https://volunteer.uwkc.org/agency/detail/?agency_id=58920
No Husky Goes Hungry https://www.washington.edu/anyhungryhusky/the-uw-food-pantry/
Northwest Harvest https://www.northwestharvest.org/
Grapevine  https://www.grapevine.org/
Marys Place (donated 3x in 2023!) https://www.marysplaceseattle.org/
Red Cross https://www.redcross.org/local/washington/about-us/locations/king-county.html
Run to Win https://www.runtowin.org/

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Happy Holidays! https://windermereleah.com/2023/12/22/happy-holidays https://windermereleah.com/2023/12/22/happy-holidays#respond Fri, 22 Dec 2023 18:44:07 +0000 https://windermereleah.com/?p=28721   It’s the time of year for festivity & fun. May your home be filled with warmth & happiness, and may the holiday season bring you joy! LEAH DAVIDSON Managing Broker Leah@windermere.com 206.992.2019 windermereleah.com Windermere Real Estate Midtown 214 W McGraw St. | Seattle, WA 98119 US View online | Manage | Unsubscribe | Sign up  This email was sent to leah.windermere@gmail.com. To […]

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Buyer Broker Agreements https://windermereleah.com/2023/12/14/buyer-broker-agreements https://windermereleah.com/2023/12/14/buyer-broker-agreements#respond Thu, 14 Dec 2023 23:16:07 +0000 https://windermereleah.com/?p=28709 Starting January 1 2024, the agency statute, RCW 18.86 et seq takes effect.  The new agency law requires that a broker obtain a services agreement before or as soon as reasonably practical after rendering real estate brokerage services. When you choose to work with me, we will execute an agreement, called Windermere Form 28.B or […]

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Starting January 1 2024, the agency statute, RCW 18.86 et seq takes effect. 
The new agency law requires that a broker obtain a services agreement before or as soon as reasonably practical after rendering real estate brokerage services.

When you choose to work with me, we will execute an agreement, called Windermere Form 28.B or a NWMLS form 41, which will establish Agency, as well as:

a. Pamphlet. Buyer acknowledges receipt of the pamphlet entitled “Real Estate Brokerage in Washington.”
b. Broker Appointment. Firm appoints the above-named Broker(s) to represent Buyer. This Agreement creates an agency relationship with Broker(s) and any of Firm’s managing brokers who supervise Broker(s). Firm may appoint additional brokers to represent Buyer.
c. Agency Relationship. Firm and Broker’s agency relationship with Buyer shall be  (“Exclusive” if neither is checked) >  Exclusive: Buyer may not enter into an agency relationship with other real estate firms or brokers during the Term

Ask me for a copy of the Windermere Form 28.B or NWMLS For 41 to read more

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Get the W Report | Oct 2023 https://windermereleah.com/2023/10/30/get-the-w-report-oct-2023 https://windermereleah.com/2023/10/30/get-the-w-report-oct-2023#respond Mon, 30 Oct 2023 17:04:44 +0000 https://windermereleah.com/?p=28703 Local market update. Low inventory has kept King County home sales pretty quiet of late, although the market is seeing some year-over-year price gains. With stock so depleted, it’s likely unit sales will remain suppressed for the remainder of the year. Find our full market recap here. News + trends. [THE STATE OF] REAL ESTATE […]

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Luxury Living on the Top of Queen Anne https://windermereleah.com/2023/10/08/luxury-living-on-the-top-of-queen-anne https://windermereleah.com/2023/10/08/luxury-living-on-the-top-of-queen-anne#respond Sun, 08 Oct 2023 18:20:11 +0000 https://windermereleah.com/?p=28689 The post Luxury Living on the Top of Queen Anne appeared first on Leah Davidson.

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Office Disclosure Packet https://windermereleah.com/2023/09/23/office-disclosure-packet https://windermereleah.com/2023/09/23/office-disclosure-packet#respond Sat, 23 Sep 2023 18:31:17 +0000 https://windermereleah.com/?p=28677 My office requires I deliver to you a copy of our Office Disclosures, please let me know if you’d prefer a hard copy (59pgs): Click to view IDRpacket:  IDRpacket

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My office requires I deliver to you a copy of our Office Disclosures, please let me know if you’d prefer a hard copy (59pgs):
Click to view IDRpacket: 

IDRpacket

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Get the W Report | Sept 2023 https://windermereleah.com/2023/09/14/get-the-w-report-sept-2023 https://windermereleah.com/2023/09/14/get-the-w-report-sept-2023#respond Thu, 14 Sep 2023 18:00:33 +0000 https://windermereleah.com/?p=28669   LOCAL MARKET UPDATE ·2 min read Local Market Update – September 2023 As summer draws to a close, the local housing market remains somewhat unsettled. This is due to persistently high interest rates that have caused buyers to pause and sellers to hold onto their pandemic-era mortgage rates, as well as low inventory increasing […]

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Local Market Update – September 2023

As summer draws to a close, the local housing market remains somewhat unsettled. This is due to persistently high interest rates that have caused buyers to pause and sellers to hold onto their pandemic-era mortgage rates, as well as low inventory increasing competition for the available listings. Sold home prices in some areas have begun to see year-over-year price increases in relation to the slowdown that hit the market at the end of last year.

Windermere’s Chief Economist Matthew Gardner remarked on this trend. “Historically, the number of homes for sale slows in August,” he said. “Where sales did occur, prices rose between July and August in King and Pierce counties.” Gardner also described these conditions as “very unique times” in the housing market.

While these conditions may be challenging to navigate, sellers are still finding success with correctly-priced listings. New listings are attracting multiple offers and often sell over list price. Buyers who come prepared with strategic offers and a willingness to waive contingencies can break into the market with the guidance of a savvy broker.

King County was one of the regions that saw year-over-year price gains. The median price for a single-family home rose 0.7% from $899,999 in August 2022 to $906,250 last month. Condos saw even bigger gains, likely due to their better affordability for new homebuyers. The median price for condos in August was $525,000, up 8.25% from $485,000 the same time a year ago.

The Seattle market hasn’t quite caught up to its pricing from this time last year. There, the median price for single-family homes in August was $899,000, down about 3% from $927,000 in August 2022. On the other hand, the condo market saw a 10.5% price increase year-over-year, rising from $520,000 in 2022 to $575,000 last month.

Eastside median sold prices fared better. After a somewhat sluggish summer in terms of pricing, last month the median price for single-family homes rose to $1,453,000. That’s an increase of 7.6% from $1,350,000 in August 2022. Condos in the area also saw price growth, with median sold prices increasing 5.4% from $569,000 last year to $600,475 in August.

Like Seattle, Snohomish County also hasn’t caught up to its 2022 prices, though this is likely because the county had fewer fluctuations in the last year and may be experiencing the typical end-of-summer slowdown that is common in the housing market. There, the median price for single-family homes was down 2.6% from $749,999 last August to $730,563 this year. The condo market was virtually unchanged in pricing, increasing from $474,999 in August 2022 to an even $475,000 last month.

In all the areas mentioned above, condos generally saw the most notable price gains. This is likely due to their greater affordability for first-time homebuyers and those in the median price-bracket. With interest rates still fluctuating, many buyers are rethinking their plans and may be pivoting to the condo market, thus driving up demand and prices.

Matthew Gardner sees the current real estate market as still “lack[ing] direction,” due to the ongoing interest rate issues. He says “it likely won’t find its footing until mortgage rates start to pull back, which I expect to see as we enter the fall months – and assuming the U.S. economy continues to moderate.”

The remainder of the year will set the tone for how the market looks in 2024. Until then, your Windermere broker can help you navigate these changing conditions and find a strategy that’s best for your buying or selling journey.

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Prepare for your Home Inspection with Brandal at V.i. Inspections https://windermereleah.com/2023/09/05/preparing-for-your-home-inspection-with-brandal-at-v-i-inspections https://windermereleah.com/2023/09/05/preparing-for-your-home-inspection-with-brandal-at-v-i-inspections#respond Tue, 05 Sep 2023 01:13:41 +0000 https://windermereleah.com/?p=28657 Prepare for a successful home inspection with Brandal Gehr, owner of V.i. Inspections Inc   V.i. Inspections Inc. WA St Lic #247

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Prepare for a successful home inspection with Brandal Gehr, owner of V.i. Inspections Inc

 

V.i. Inspections Inc.

WA St Lic #247

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What is happening with home prices? https://windermereleah.com/2023/08/22/what-is-happening-with-home-prices https://windermereleah.com/2023/08/22/what-is-happening-with-home-prices#respond Tue, 22 Aug 2023 15:23:10 +0000 https://windermereleah.com/?p=28653 Our Windermere Chief Economist, Matthew Gardner, discusses: What is Happening with Home Prices?

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Our Windermere Chief Economist, Matthew Gardner, discusses: What is Happening with Home Prices?

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