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An Interview with Margaret Smith on Confidence and the World of Real Estate
November 9, 2017 /This week marks the fifth anniversary of Pickett Street’s Margaret Smith. Though I’ve only been working with her for about six months, I’ve already come to know Margaret as a positive and hardworking force of nature. Margaret is the Director of Operations for Pickett Street Properties; she recruits, screens, and interviews candidates and manages social media, client events, system evaluation, branding/marketing, and overall growth and planning for Pickett Street. I was recently lucky to be able to chat with her about her experiences in the world of real estate. Hi Margaret! Congrats on five years of working with Pickett Street. Can you talk to us about how you started working for Pickett Street? Before Pickett Street I was the Docent Program Coordinator for the Seattle Art Museum. I NEVER thought I would work in sales or for a sales company--and now I can't imagine anything else in my future. This career gives me an opportunity to help and inspire people in a much bigger way and through a bigger platform than I ever imagined. I was ready to leave the museum because I wanted a career where I could support myself financially, and that's hard to do in the nonprofit…Read more
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Buy now, my pretties!
November 3, 2017 /While Halloween and its festivities can be super fun, this holiday may have put you in a spooked mood. Am I the only one out there who regrets spending Halloween huddled on the couch, mindlessly eating Reese’s peanut butter cups and watching The Shining? While Jack Nicholson wielding an axe is certainly terrifying, most adults experience more anxiety over certain aspects of everyday life, including financial commitments like career decisions and buying a home. (Quick side note, another common fear is robots taking over the world.) If anxiety over buying a home sounds familiar, not to worry--this decision is not as scary as it seems. To soothe your fears and ease the process, get in touch with Pickett Street (425) 502-5397 or info@pickettstreet.com. In the meantime, settle in with that leftover Halloween candy (unless you ate it all like me), and relax by reading about common home-buying fears and why they’re not actually that scary. 1. Buying a home costs too much money, and I can’t afford it. Finding enough cash to make a down payment on a home is one of home buyers’ biggest anxieties. The median home price in Seattle is $725,000, which means that a 20% down…Read more
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Seattle Real Estate Update for Fall 2017
October 12, 2017 /With its misty mornings and mouthwatering apple harvests, fall in the Seattle area is in full swing. As the seasons change, let’s check in on how the Seattle real estate market is doing. The median price for Seattle home is $667,500, or $476 per square foot, which is an increase of 16% over last year. Whether you are buying or selling, or are somewhere in between, here’s the latest scoop on the local market. 1. Mortgage rates rose last week but remain low. In the beginning of October, 30-year fixed-rate mortgages rose ever so slightly, from 3.83 percent to 3.85 percent. According to Freddie Mac, the 15-year fixed-rate also rose from 3.13 percent to 3.15. Adjustable five-year mortgages rose from 3.17 percent to 3.20 percent. Despite these increases, mortgage rates remain very low, which is good news for home buyers. 2. Seattle real estate reporter talks about the bubble. Because Seattle is experiencing such a competitive, wild real estate market, the question on many people’s minds is whether or not the current situation is a bubble that will eventually burst. Seattle real estate reporter Mike Rosenberg discussed this question and more in his recent AMA interview on Reddit. According to…Read more
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Four Reasons Why It’s Good to Be a Home Seller Right Now
September 29, 2017 /My friends recently made a really smart real estate decision: four years after purchasing their lovely home in Boulder, Colorado, they sold it and moved to a cheaper spot in Nashville, and, as a result, made a boatload of money. I found myself both--let’s be honest--slightly envious, and inspired. Investing in real estate, and understanding when to sell, is one of the smartest ways to build wealth. You might be wondering what Boulder, Colorado has to do with Washington State, aside from the fact that both Seattle and Boulder are home to hippies and tech nerds with serious outdoors obsessions. Well, while Boulder’s real estate market is doing well right right now, Seattle’s real estate market is right up there with it as one of the most competitive markets in the country. In many ways, the Seattle market is even hotter than Boulder’s. If you’re considering listing your Seattle area home right now, here are a few reasons why it's good to be a home seller right now. For more information about selling your home and understanding its current value, contact Pickett Street at (425) 502-5397 or info@pickettstreet.com. Also, be sure to check out this easy home value form. 1. The…Read more
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How Owning a Home Builds Wealth
August 17, 2017 /Here’s something I wish I’d known in my early twenties: buying a home is one of the best ways to build wealth. In 2015, according to the Federal Reserve, the average homeowner’s net worth was $195,400, while the average renter’s net worth was $5,400. Perhaps you know all of this already and are wondering if buying a home is still, in the current economy, even after the 2008 housing crisis, one the best wealth-building strategies. The answer to this question is yes, and here are a few reasons why. 1. Owning a Home Builds Equity and Forces You to Save Home equity is an asset that comes from owning a home and represents one of the largest sources of net worth for most investors. In other words, equity is the portion of your home that you actually “own.” Of course, when you a buy a home you own all of it, but borrowing money to buy your property means that the seller still has an interest in it until you pay off the loan. Equity is essentially a form of wealth; you can eventually take out income or lump sum withdrawals from this asset, or you can pass it on…Read more
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Five Reasons You Should List Your Home Today
August 10, 2017 /You may have heard that it’s a seller’s market right now. However,you may also be wondering what exactly that means for you, the potential seller. Here's the rundown of the current seller's market and a few reasons why you shouldn't wait to sell your home. 1. Seattle is one of the hottest housing markets in the country. According to several different reports, Seattle’s real estate market is one of the hottest in the country for 2017. And the city of Seattle isn’t the only area that’s hot: King, Snohomish, and Kitsap Counties are all experiencing competitive real estate markets right now. 2. Inventory is low. There are currently more people looking to buy homes than there are people listing their homes in the Seattle area. According to the Seattle Times, inventory is down by 27 percent when compared to last year's numbers. This means that competition among potential buyers is high. Plus, this competition often results in bidding wars, which means that sellers are likely to receive more than the original listing price. About 75 percent of listed homes have received multiple offers this year, and 56 percent of homes are selling for more than the asking price. In several city neighborhoods, and…Read more
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Tips for Navigating Seattle’s 2017 Real Estate Market
August 9, 2017 /Seattle’s real estate market is on fire right now, and it’s easy to see why. Tech giants such as Amazon, Microsoft, and Expedia are creating healthy job growth, making the local job market one of the hottest in the country. Additionally, despite its growing costs, this urban area remains one of the more affordable west coast cities, especially when compared to Los Angeles and San Francisco. Not to mention, Seattle is just plain gorgeous. With these perks, Seattle one of the fastest growing cities in the county; the most recent data found that about 1,100 people are moving to the city every week (you heard me right--1,100 people per week!). So, how does one navigate this exciting and competitive atmosphere when buying or selling a home? Here are a few tips, along with more information about what to expect from Seattle’s real estate market in 2017. 1. Don’t Wait to Buy If you’re serious about buying a home in Seattle, now’s the time to go for it. Real estate professionals predict that the market will remain competitive throughout 2017 and beyond. According to the NW REporter, while there was a small increase in residential listings this past June (a 7…Read more
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Fannie Mae Changes Help Homebuyers With Student Debt
August 4, 2017 /It’s tough out there for students. Take it from me, a millennial who has collected a bachelor’s degree and a master's degree, as well as a bit of debt along the way. Recent surveys have shown that the average college graduate has more debt than ever before, and that this increased debt makes it harder for graduates to save money and therefore more hesitant to buy homes. What’s more, millennials aren’t the only ones who carry this burden--about 43 million Americans, including millennials, Gen Xers, and even some baby boomers, are currently drowning in student debt. However, luckily for us former students, the mortgage investor Fannie Mae has introduced three new changes that will make it much easier for individuals with student debt to purchase homes. Here are three situations in which these new rules will help. 1. If Someone Else Makes Your Student Loan Payments Many employers now offer their employees student loan repayment benefits. In the past, this system has made it more difficult for individuals looking to buy homes; when calculating a homebuyer’s debt-to-income required for mortgages, mortgage lenders did not take into account that the potential homebuyer did not have to make their student loan payments…Read more
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Neighborhood Profile: Gold Creek
August 1, 2017 /If you’re like me, you might have trouble deciding where you want to settle in the Seattle area. With the city, the mountains, the Puget Sound and its islands, and the countryside full of farms and wineries, I am always wishing I could have five or six houses scattered around Washington. Luckily, however, there are places to live like Gold Creek. Gold Creek is a quiet neighborhood between Mill Creek and Snohomish, Washington. Nestled among the Cascade mountains and the Puget Sound, in one of the true centers of activity in Washington, this area is one of the most gorgeous and convenient places to live in the state. Vancouver, Canada is a little under 100 miles north, Seattle is 20 miles south, and the San Juan Islands and the Olympic Peninsula are just short ferry rides away. Neighborhood Stats As of 2010, Gold Creek had about 2,300 residents. While this neighborhood is small, it’s close to several exciting hubs, including Seattle ( about a 30-minute drive) and Everett (about a 20-minute drive). Because of its convenient location, Gold Creek is popular among families, couples, and single individuals who work in the nearby cities and want to enjoy a relatively short…Read more
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Seattle Summers: Golden Gardens Park
June 30, 2017 /While on a recent visit to Seattle, my partner and I hit the Washington weather jackpot for June: 65-degree mornings and 85 degree afternoons, without a single cloud in the sky. We decided to grab Thai food and head to Golden Gardens, which is a beachfront park located in northern Ballard. “Hooray, beach day!” I said as we drove to the park. “Well,” my partner replied, with that tone he often takes when he is about to be clever. “Beach day.” He pantomimed air quotes around “beach,” implying that Seattle beaches are not real beaches. My partner is from Colorado (which, let me just point out, has zero beaches), and he grew up frequently visiting family in Hawaii, enjoying pristine white sand beaches and warm waters. I love him dearly, but he is a tiny bit of a beach snob. “What are you saying?” I asked. “I mean, is it even a real beach if it’s all rocky and doesn’t have any sand?” I told him that he’d better change his attitude or I would eat all of the spring rolls and his pad thai (which I am totally capable of doing). While driving to the park, we were able…Read more
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Neighborhood Profile: Beacon Hill
June 28, 2017 /It’s a tough decision: should you live downtown amid the constant bustle of the deliciously funky urban organism that is Seattle? Or, should you live in a quieter neighborhood with better parking and perhaps slightly cheaper housing prices? Luckily, with Beacon Hill, you can enjoy the best of both worlds. The Basics Located south of downtown, between I-5 and Rainier Valley, the up-and-coming Beacon Hill is one of Seattle’s oldest neighborhoods. This large area is known for its relatively affordable housing and its convenient location—residents enjoy easy access to downtown Seattle without having to navigate the freeways (which we all know are not, ahem, Seattle’s best feature). Homes in the northern part of Beacon Hill were mostly built in the early 1900s, and so this area contains many lovely Craftsman bungalows and Seattle box houses. The hill also offers views of downtown, Elliott Bay, Rainier Valley, Mount Rainier, and the Olympic Mountains. Neighborhood Vibe Depending on where you are in the neighborhood, Beacon Hill can be both bustling and quiet. Currently, as well as historically, the neighborhood is home to a diverse population of working-class families. Completed just a few years ago, Beacon Hill’s light rail station has reenergized the…Read more
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On Moving, Part 2
June 8, 2017 /Growing up in Washington State, I was convinced my mother and stepfather were ascetic monks disguised as law-abiding citizens. Everything about our house in the woods—its dirt driveway and wood-fired stove, the rickety doors that were forever creaking and driving us all mad—suggested an extension of pioneer society, a devotion to hard work and self-denial accompanied by a general mistrust of modern comforts. My family didn’t seriously invest in electric heating until after I left for college (during winter, I was forever walking around like the little brother in A Christmas Story, wearing roughly 20 sweaters and weeping about not being able to put my arms down), and our shower usually had only 30 seconds of hot water per day. My mother was forever banging on the bathroom door, ordering us to get out of the shower and stop wasting precious natural resources. This lifestyle became especially troublesome once I entered high school. Living in a largely affluent small town, most of my friends enjoyed accordingly cushy lifestyles: palatial homes, unlimited heat, fancy refrigerators that dispensed pompous quantities of ice and filtered water. Such modern conveniences seemed impossibly luxurious to my untutored experience, more akin to the advanced technologies of science…Read more
