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2016 Election: Why you should buy a home now
October 28, 2016 /No matter what side of the electorate you find yourself on, most of us can agree that the United States is approaching a transitional period. In times of transition, people can resort to a fight or flight mentality that occasionally reaches unneeded proportions (remember the Y2K craze? Guess y’all didn’t need to dig bomb shelters and stock up on canned goods after all). However, if you’re anticipating the coming election with some unease, it might help to consider how the election will affect the average mortgage rate. I suggest this consideration might help because, historically, elections have not had dramatic effects on mortgage rates. Of course, there is always a certain level of uncertainty during election years that tends to affect the economy. By extension, there are often mortgage rate fluctuations during the time immediately following an election. Don’t let that prospect worry you, though: remember that mortgage rates are in a constant state of change, and a permanently stable mortgage rate would be strange. In that case, we shouldn’t view mortgage rate fluctuations during election season much differently than other mortgage rate fluctuations. But don’t take my word for it; check out some examples of mortgage rate changes…Read more
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Chunky, creamy or extra crunchy?
October 21, 2016 /When my girlfriend sent me out to buy peanut butter last week, she had no idea that such a simple task would end in disaster. To put this grim statement in context, it’s important to understand that I’m still used to Irish supermarkets (in which you can choose between two brands of peanut of butter and dare not ask for more) and regard all American Mega-Marts with unease and mistrust. As such, you’ll understand when I say that my trip to our local King Soopers became a task fraught with anxiety. Reaching the peanut butter aisle, I was astounded to discover that it was exactly that: a whole aisle devoted to nothing but different brands of peanut butter. I shuffled to and fro along the shelves, wondering whether chunky would taste better than creamy, or if reduced fat meant the same thing as 30% FEWER CALORIES!!! Even worse, was I supposed to buy any old run-of-the-mill butter, or would it be better to buy an all-natural brand? And what was the difference between all-natural and organic anyways? Surely peanut butter couldn’t be organic but not all-natural? All of this was very confusing; perhaps there were better options at the Safeway…Read more
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The Missing Person’s Report
October 7, 2016 /For a brief period between my sophomore and junior years in college, I had the exciting privilege of working a job without my boss’ knowledge. I’m not quite sure how this happened (and, apparently, neither did my boss), but it’s an interesting story that’s worth mentioning. At the end of my sophomore year, I applied for and accepted a job at a library. Having few aspirations beyond funding my first summer living away from home (and all the accompanying frivolity such an endeavor entails), I wanted nothing more than a quiet work space filled with quiet tasks amid quiet and comfortably dusty stacks of books. To be honest, I imagined spending most days sliding around on those vintage rolling ladders one sees in especially august and illustrious institutions. It was an idealistic notion of library work, so you can imagine my dismay when I discovered I was to be the resident “cataloguing specialist.” This glamorous title referred to a job that essentially involved pasting bar codes onto books in a little back room isolated not only from my coworkers, but also the bulk of Western civilization. I arrived to work at 8 o’clock every morning and spent most…Read more
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How can we help you realize your dreams?
September 29, 2016 /By Margaret Smith, Executive Assistant for Pickett Street Properties I had a vivid imagination as a kid. Like Mary Poppins, I would hop off the garage roof with my red umbrella hoping to fly. My Mom taught me to hope and I think her optimism passed on to me in a fashion similar to her smile. I know people may not think my optimism is sensible at times- I get it. But I have to tell you, it has helped me push through some difficult times, and I think ultimately I am healthier for it. My delight with tree houses started when I was in elementary school. I loved the idea of living in something above everyone else and surrounded by leaves. I had a sense that if I lived in one, the fairies would eventually come find me as well. I never imagined there were people that were capable of building something so whimsical yet functional. In the last few years I began to notice places like Treehouse Point in Issaquah, WA where you can rent places to stay overnight or rooms for events. Many people have watched the tv series Treehouse Masters, where they have built the…Read more
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Has Anyone Heard of King Olaf?
September 22, 2016 /Until recently, neither had I. Here’s some context for you: a few weeks ago, while wandering the stately avenues of downtown Poulsbo, I suddenly found myself on an unfamiliar lane leading off Front Street. This was weird. Having grown up in Poulsbo, I was pretty sure I knew all there was to know about the place (after all, how hard should it be to get to know a small, Viking-themed town?), but there I was, standing between a kayak store and the Sons of Norway headquarters, lost in suddenly unfamiliar territory. According to the street sign, the little lane was called King Olaf Way. How hadn’t I noticed it before? Being a curious person (and apparently having nothing better to do) I decided to do some detective work. I walked home, cracked open the Encyclopedia Britannica, and searched for evidence of King Olaf. There was quite a lot to read. Born in the 960s, Olaf was a celebrated Viking king of Norway. In his youth, Olaf was forced to flee Norway after the nefarious Harald Graycloak murdered his father. Living in exile in Russia, Olaf trained as a Viking warrior, a process I assume was similar to the training montages…Read more
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Does Your Money Work for You?
September 16, 2016 /Does Your Money Work For You? As this blog has mentioned in the past, buying a multi-family home is a profitable alternative to the standard, single-family rental unit. A multi-family home is an ideal vehicle for building wealth, as it provides extra income and more security than single-occupancy rental units. However, buying a multi-family home is easier said than done, and it can be hard to envision what the process is actually like without a concrete example. Fortunately, Pickett Street’s Amanda Weis provides us with a perfect concrete example. As Pickett Street’s Client Care Representative, Amanda has plenty of experience in property management, and she’s owned rental properties before. However, until recently, Amanda’s rental property was a single-family home that earned just $100 in profits each month. Upon selling the unit, Amanda used the profits from the sale (via the perpetually helpful 1031 exchange) to purchase a multi-family home. Or, more accurately, two multi-family homes. Starting her search in King and Snohomish counties, Amanda was initially frustrated by high property prices. However, once she moved her search to Tacoma in Pierce County, Amanda found two affordable duplexes requiring minimal up-front work. Since Tacoma’s rental market is booming, Amanda rented all…Read more
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I Hope There Aren’t Any Bugs! (Why You Should Always Work With Traditional Real Estate Agents)
September 9, 2016 /“I hope there aren’t any bugs!” said the landlord as she handed me the keys to my new apartment. “I beg your pardon?” I said, a trifle dismayed that the apartment I would be renting with my girlfriend could be home to “bugs.” “Oh, it’s nothing really,” said the landlord, “it’s just that there might be bugs in your apartment.” An awkward silence ensued. “I’m not saying there definitely are bugs,” said the landlord with a forced laugh, the kind family members might use at Christmas dinner when crazy Uncle Ernie starts telling inappropriate stories. “It’s just that there might be.” More silence. I had a brief vision of the scene from the last Indiana Jones movie when one of the bad guys falls into an anthill and is eaten alive by its inhabitants. “Anyhoo,” the landlord said, clearing her throat, “who wants a cup of coffee?” There were bugs, as it turned out. I discovered one after wrestling three suitcases, two bicycles, and a box stuffed with approximately twelve pairs of flip-flops through the front door of our new apartment. As I prepared to unload my burden and collapse onto the carpet of the living room floor, I found the space already occupied by the…Read more
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Do you want a discount from your Real Estate Agent?
September 2, 2016 /What You Get When You Work With a Discount Agent Here’s a hint: it’s not much. While discounted brokers might seem attractive (who isn’t attracted to a lower price tag?), a lower cost does not often equal a better experience in the real estate world. Before jumping on the discount bandwagon, take a minute to read our reasons why traditional realtors are still the kings (and queens) of the real estate world. Traditional vs. Discount Before launching into a discussion about why the traditional model trumps discount upstarts, it’s important to understand the distinction between the two. A traditional broker is a tried and true real estate agent - he or she will charge a standard commission fee (often 6% of the sales price), but will not charge any other fees. Traditional brokers generally control all aspects of the real estate transaction, such as advertising your home, working with the MLS in your state, negotiating offers, helping you discover anything unique about certain properties, developing individualized marketing strategies to ensure that a homeowner’s property gets maximum market exposure, and finding properties for prospective buyers. A discounted broker, on the other hand, charges a lower commission, often around 3-5%, but sometimes even lower. Some…Read more
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What are the Top Millennial Housing Trends?
August 15, 2016 /Being a millennial, and being perpetually in the process of moving, I’ve been thinking about my generation’s real estate trends quite a lot recently. There’s an abundance of talk out there about what millennials (the generation aged about 18-35 and born between the early 1980s and early 2000s) want in a home, but it’s often hard to tell fact from fiction, and so millennial home buying trends tend to remain a bit of a mystery. To set matters straight, here are some of the most important trends millennials consider when buying a home. Uber Urban This one’s kind of a gimme. It’s pretty well known that millennials favor hip urban centers with ready access to bars, restaurants, services, and cultural centers. Rather than dreaming of making it to the suburbs like their parents, most millennials want to be where the action is. This trend is at least partly responsible for the boom in urban populations, and it has made cities such as Seattle, Portland, Denver, and Austin hot spots for the young. Along with this urban focus comes a fondness for an industrial style. Instead of looking for spic and span spaces, millennials are favoring styles that are tastefully messy.…Read more
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Gratitude: the quality of being thankful; readiness to show appreciation for and to return kindness.
August 5, 2016 /“Well this is an unfortunate turn of events,” I thought as the oncoming SUV drove into my bicycle and knocked me onto the asphalt. I don’t remember what happened immediately after impact (vehicular accidents tend to dull the senses, it turns out), but I do remember being rather proud of my admirably calm mental observations, given the circumstances. For instance, I remember it was a fine, crisp January morning and that there were birds singing in the trees. Also, the sky was filled with plump, fluffy clouds, the air had been scrubbed clean by recent rain, some stranger was grabbing me by the shoulders and asking if I was alright, and a police officer was rushing toward me and calling an ambulance. Now (I wondered), why should I be receiving so much attention all of a sudden? Oh yes: I’ve just been hit by a car. Since my brain is liable to wander off into some pretty weird places during even the most normal circumstances, it’s hardly surprising that the loopiness of my post-crash mental excursions was exponentially magnified. Sitting up in the street in a befuddled and bruised state, I allowed my mind to wander through the little-used vaults…Read more
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Mortgage Rates are Low: Why Should You Care?
August 2, 2016 /We’re only a little more than halfway into the year, and already the housing market is flexing its muscles with a strong showing from new home sales. The U.S. Department of Housing and Urban Development has announced that there were 592,000 new home sales in June, a figure which outpaces original expectations and estimations by tens of thousands of units. The number of new home sales has increased about 4% in the last month, while current new home sales are roughly 25% higher than they were in June 2015. More to the point, June 2016 saw the highest new home sales since 2008. All in all, demand for new housing remains strong, and the housing market is not only continuing its robust, post-recession recovery, but also continues to be a primary contributor to the U.S. economic recovery. The success of new home sales has relied in large part on currently low mortgage rates. For individuals and households with favorable credit history, the average 30-year, fixed rate mortgage is about 3.5%. Back in June 2015, the average 30-year rates were hovering around 4% (which, it’s worth mentioning, was an already low figure). With rates arriving at even lower levels, it’s no…Read more
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You wont believe this is in Bothell!
July 22, 2016 /It’s difficult to find a home that meets all of your needs, and some homeowners might find themselves making sacrifices to find a home that’s good enough. Luckily, no sacrifices need to be made for Pickett Street’s latest listing, a masterfully crafted luxury home in Bothell. Weighing in at more than 4,000 square feet, this stunning property has enough amenities, add-ons, and hidden luxuries to satisfy any homeowner’s needs, and it’s all rendered in a virtuosic blend of stone, metal, and wood. With an elegant game room, an open sports field, a versatile auto shop, and a huge patio, this Bothell home has everything and more. Accompanied by rich mahogany detailing, this Bothell home’s game room is sure to catch anyone’s eye. The space is perfect for weekly poker games, casual (or not-so-casual) pool competitions, or even just a friendly drink among friends. A sliding barn door connects this space to the great room, a stunning, expansive combination of a living room and a kitchen that promises to become a bustling hub of activity and the life of any party. The living room boasts a linear gas fireplace, wet bar, and access to a courtyard with a patio and…Read more
