Windermere and Zillow Economists Come Together To Discuss Housing

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Earlier this week, nearly 200 Windermere brokers came together at Windermere’s monthly luxury breakfast at Overlake Golf Club in Medina, WA. The featured speakers were Windermere Chief Economist, Matthew Gardner, and Zillow Senior Economist, Skylar Olsen. Matthew interviewed Skylar on a number of topics related to the housing market and economy, including interest rates, inventory levels, Millennials, and where they predict Amazon will open their second headquarters (they both are betting on Austin, TX).

The two economists discussed the overall health of the housing market. Both predict sales to soften a little this year, but still remain strong overall. When asked about interest rates, Skylar stated that she believes they will land just below 5 percent by the end of 2018 and rise to around 6 percent by early 2019. They noted that luxury home prices have slowed a little in certain cities, with the exception of places like Seattle and San Francisco, where the economies and job growth are very strong.

On the opposite end of the spectrum, Matthew and Skylar addressed first time buyers – and more specifically – Millennial home buyers. Both say this generation will play an increasingly important role in the health of the housing market, but their biggest obstacle is saving enough money for a down payment. Skylar stated that more than 25 percent of first time buyers end up borrowing from the “bank of Mom and Dad” in order to be able to afford a home. With rapidly rising prices in many cities across the US, both agree that there probably isn’t much relief in sight in the near term for these buyers.

It was an honor to have two such well-respected economists on hand to provide their insights into the housing market. For more information about Matthew Gardner, and to read his analysis of regional markets throughout the Western. U.S., please visit: https://www.windermere.com/economics.

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What You Should Know About Load Codes for Your Home Project

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Anyone who has built, designed or remodeled a home has heard the term “built to code” and people saying, “The code requires it to be like that.” And when we hear things like this, we tend to think we’re getting a house designed and built to the highest standard.

But that’s not necessarily so. What the building codes do is establish an absolute minimum standard. This minimum may not be what you need in your home. You could, in fact, easily have needs that require the design and construction of your home to exceed code.

Load Codes 1: Wanda Ely Architect Inc, original photo on Houzz

This is especially the case when it comes to structural items. While the code mandates that structural systems be designed to support certain minimum loads, and to do so within certain tolerances, these minimums and tolerances may not be what you actually need. Who wants to live in a house where the floors are so bouncy that you feel like you’re walking on a trampoline? And what happens when you decide to move a water bed into the bedroom next to that stack of heavy books you cherish? Will you need to have your floor joists doubled up under that big soaking tub you are planning?

It’s wise to think about particular situations like this and look at the code mandates as a starting place, not the finish.

Load Codes 2: Bud Dietrich AIA, original photo on Houzz

Weight Loads

Building codes establish many project requirements, not the least of which is the project’s structure. This holds true no matter what material the house will be built of. And a key to designing a structural system is to determine what loads, or weights, will be imposed.

So we first have to look at what the house will be made of (wood, concrete, steel, masonry etc.) to determine the dead load — the weight of materials used in the permanent construction of the house. Note that it doesn’t include items like furniture, people, toys, books, television sets etc. and will vary only a little bit over the lifetime of the house.

Next we use the governing building code to determine what the minimum live load — the impact of movable objects such as furniture and people — will be. For example, per code, the main living areas of a house have to be able to accommodate a uniform live load of 40 pounds per square foot. Bedrooms have a code requirement of 30 pounds per square foot, and roof structures have a varying live load, depending on climate (more snow equals more weight) and roof pitch (steeper roofs will shed snow faster).

Load Codes 3: Bud Dietrich AIA, original photo on Houzz

But the code-mandated uniform loading may not accommodate all of your furniture and books, that large cast iron soaking tub, your water bed etc. So you’ll want to identify any items that this code-mandated requirement won’t accommodate and design the structure accordingly. Otherwise, the extra weight of these items can cause the structure to fail.

When we say a structure has failed, we don’t necessarily mean the house has collapsed. Failure can simply mean a part of the structure has failed so there’s too much deflection. This will result in uneven floors, gaps between walls and floors, and so on.

Load Codes 4: Bud Dietrich AIA, original photo on Houzz

Deflection

Deflection is the distance that a structural member (say, a floor joist) will bend when a load is placed on it. The greater the distance, the more the deflection and the less level the floor.

In addition to holding up a certain load, a structure has to stay rigid and keep its shape. But that’s nearly impossible, as any structure will start to deflect the moment any load is placed on it.

The code requires that this deflection be limited to L/360, where L is the length of the unsupported span. This means that for a floor structure that spans 18 feet (not uncommon in newer homes with open floor plans), the maximum allowable deflection is 0.6 inches.

In other words, a floor can sag more than a half inch and still be deemed OK. So some architects and engineers will use L/480 to calculate the allowable deflection. For an 18-foot span, using L/480 would limit the amount of deflection to 0.45 inches.

While the difference between 0.6 and 0.45 inches may seem insignificant, it really isn’t when it comes to a floor structure that gets walked on all the time.

Load Codes 5: LDa Architecture & Interiors, original photo on Houzz

If you’re designing or remodeling a house, have a conversation with your architect and builder about what you plan to put into your home and how the structure will accommodate it.

By Bud Dietrich AIA, Houzz

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How to Get Started on Your Home Search

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Whatever your reasons for buying, finding the right home in the perfect neighborhood, and at a cost that is within your budget, is no small task. But if you do your research and approach the process with confidence, you are much more likely to emerge at the end of the day with a house you’ll be proud to call home.

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I’m Ready To Downsize But How Do I Start?

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By June Griffiths

Are you thinking about downsizing but don’t know how to make the tricky transition work? How do you buy a new place before you sell your current home?

You are not alone as many homeowners have the same concerns. They want to embrace a new lifestyle, take advantage of our ever-increasing values, and lock in a smaller home or condo in an area that they covet.

Below are some creative solutions that may help you make your dreams come true too. Keep in mind that everyone’s financial profile is different. One option might not work for you while another one will. It might even be a combination of a few of these.

Here are a few ideas:

HELOC – Home Equity Line of Credit. If you have enough equity in your current home, you may be able to get a HELOC to get a down payment for a conventional loan or to buy the new property outright.

Bridge Loan – These loans can bridge the gap between buying and selling. You can typically borrow up to 65% of the equity in your home with a maximum loan of $500,000.

Margin Loan – most individuals can borrow up to 50% of the balance in their liquid investment accounts (retirement accounts cannot be used). These loans are generally cheaper than a bridge loan and have no major tax implications.

IRA Rollover – Most retirement funds allow a 60-day rollover of funds. It’s very important to know that these funds must be replaced into the retirement account within 60 days or you may incur significant penalties and taxes.

Making a move, whether you are buying a larger home or downsizing out of your now empty nest, is a big decision. You’ll want the best professionals to help you. Ask your real estate agent to put you in touch with a lender who will help evaluate your financial situation and customize the best options for you.

June Griffiths is a Managing Broker in the Windermere Issaquah office and has worked in real estate since 1989. She can be contacted at june@windermere.com.

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Find a New Home in Four Steps

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Whether you’re a first-time homebuyer or a current owner looking for a bigger home, the ideas below will help you better navigate that all-important first step: Finding a property that you like (and can afford).

The search for a new home always starts out with a lot of excitement. But if you haven’t prepared, frustration can soon set in, especially in a competitive real estate market. The biggest mistake is jumping into a search unfocused, just hoping to “see what’s available.” Instead, we recommend you first take some time to work through the four steps below.

Step 1: Talk to your agent

Even if you’re just thinking about buying or selling a house, start by consulting your real estate agent. An agent can give you an up-to-the-minute summary of the current real estate market, as well as mortgage industry trends. They can also put you in touch with all the best resources and educate you about next steps, plus much more. If you are interested in finding an experienced agent in your in your area, we can connect you here.

Step 2: Decide how much home you can afford

It may sound like a drag to start your home search with a boring financial review, but when all is said and done, you’ll be glad you did. With so few homes on the market now in many areas, and so many people competing to buy what is available, it’s far more efficient to focus your search on only the properties you can afford. A meeting or two with a reputable mortgage agent should tell you everything you need to know.

Step 3: Envision your future

Typically, it takes at least five years for a home purchase to start paying off financially, which means, the better your new home suits you, the longer you’ll most likely remain living there.

Will you be having children in the next five or six years? Where do you see your career heading? Are you interested in working from home, or making extra money by renting a portion of your home to others? Do you anticipate a relative coming to live with you? Share this information with your real estate agent, who can then help you evaluate school districts, work commutes, rental opportunities, and more as you search for homes together.

Step 4: Document your ideal home

When it comes to this step, be realistic. It’s easy to get carried away dreaming about all the home features you want. Try listing everything on a piece of paper, then choose the five “must-haves,” and the five “really-wants.”

For more tips, as well as advice geared specifically to your situation, connect with an experienced Windermere Real Estate agent by clicking here.

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How are inventory shortages impacting the housing market?

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The shortage of homes for sale has been a major concern for buyers and real estate agents over the last few years. Windermere Chief Economist, Matthew Gardner, explains the impact these shortages are having on the housing market.

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February Home Maintenance Checklist

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It’s February – winter’s not over yet, but spring is right around the corner. If you have cabin fever from being inside, cleaning and freshening up your house can help you get through this last month of winter and be ready to get outside when spring arrives.

Once you check these items off your to-do list, you’ll be able to relax by the fire with a good book and enjoy the last few weeks of winter.

  • Mop entryway floors. Clean your floors regularly to prevent damage from road salt and melting snow. Place a basket of old towels near the door to wipe up water and salt as soon as it is tracked inside.
  • Rotate or flip your mattress. Extend the life and comfort of your mattress by flipping or rotating it. At the same time, vacuum box springs and the mattress to eliminate allergy-causing dust- mites.
  • Organize your laundry room. Scrape dried-on laundry detergent from the ridges in your washer. Throw away laundry products you never use and replace damaged sorting bins.
  • Clean out your spice cabinet. Throw away expired spices and other seasonings, which may not only lose their taste, but could harbor mold and bacteria.
  • Sanitize hand-held devices. Prevent germs that cause the spread of colds and the flu by disinfecting your phone, remote controls, tablets, as well as your door and cabinet knobs.
  • Dust blinds, ceiling fans and fixtures. Wipe down or use a feather duster to remove the dirt that builds up on blinds, ceiling fans, light fixtures other small electronics.
  • Add color to your table. Treat yourself to some fresh flowers to add cheer to your kitchen table while waiting for spring blooms to make their first appearance.
  • Plan your summer vacation. Reserve your vacation home now to get the best selection of available properties. Start your planning today at Long & Foster’s Vacation Rentals website.

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6 Foyers That Invite in Style

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With a side entrance to your home, you can be a little more forgiving when it comes to messes. But with a front-door entry, through which you and your guests get a first impression of your home, you’ve got to be a little more on top of your style and storage game. The following are some of the most popular front-entry photos recently, as measured by the number of people who saved them to their Houzz ideabooks from January through March. Let us know which will inspire your next project.

Entryway 1: Jackson and LeRoy, original photo on Houzz

6. A classic wooden bench offers a spot to take off and put on shoes in this farmhouse-style entryway in Utah.

Related: Wipe Your Shoes on a Durable Outdoor Rug

Entryway 2: Nicole Benveniste Interior Design, original photo on Houzz

5. Benjamin Moore’s Plaster of Paris paint on the walls sets the soothing tone for this spacious San Francisco entry. A large painting featuring pale swaths of color hangs over a few well-chosen accessories atop a weathered wood table, starting this home off on the right foot.

Entryway 3: Brian Paquette Interiors, original photo on Houzz

4. Here, a burl-wood-type table and vibrant abstract art create movement and excitement.

Related: Flower Vases for the Entryway

Entryway 4: Tim Barber Ltd Architecture, original photo on Houzz

3. A rich wood built-in helps organize this Los Angeles entry. A frosted, ribbed glass window obscures the view into the living room.

Entryway 5: NEST Interior Design Group, original photo on Houzz

2. An eclectic mix of art and accessories beckons guests into this Houston home. A table offers a spot for keys and wallets, while wire baskets below can handle shoes and bags.

Entryway 6: Fluidesign Studio, original photo on Houzz

1. Creamy shiplap walls, rich wood floors and a wood console table establish a refreshing air in this Minneapolis home.

By Mitchell Parker, Houzz

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Getting Organized Is Good for Your Home and Your Health

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For the last nine years, the HomeGain National Home Improvement Survey has been asking real estate professionals across the country the same question: What are the top 10 things a homeowner can do to get their home ready to sell?

And every year, the number one answer is: clean and de-clutter. In the latest survey, 99 percent of the real estate professionals queried ranked this task the most important. What’s more, they estimated that, for every dollar spent on the task, the homeowner would receive a whopping 403 percent return on their investment.

De-cluttering delivers big benefits to those who are not selling their homes, too. Studies show that living in a cluttered house is mentally stressful for the occupants and often leads to weight gain and other health problems.

So why do so many of us put off this important task? It’s hard work. It takes time. It’s physical. It’s emotional. And there are lots of decisions to make about what goes where, what gets tossed, and more. Worst of all, thinking about it makes it seem like an even bigger project than it really is—which is why experts say the best way to get started is to simply jump in.

The easy way to get started

The toughest part of getting organized is getting started. It’s too easy to say, “I’ll go through that closet later.” “I’ll get rid of those boxes later.” “I’ll donate those clothes later.”

Instead, replace “later” with “now.”

Grab a couple cardboard boxes and spend 90 minutes right now organizing one part of one room (a desk in your study, for example). Once you see that it’s not nearly as tough as you imagine, and actually feels satisfying and freeing, you’ll become energized and ready to take on even bigger organizing tasks tomorrow.

Here are some tips to keep you on track:

  • Tackle one room at a time.
  • Start with the easy stuff. Rounding up the things you know you want to toss, recycle, sell, or store.
  • Finish the task you start. Don’t pull everything out of a closet, for example, and then stop for the day, leaving the mess for later. Finish organizing the closet.
  • Get the whole family involved (these are important life lessons to pass along to your children).
  • Let phone calls and other disruptions wait until you’re done for the day.

Deciding what to keep

Once you make your way through the things you know you don’t want any more (broken appliances, unused gifts, outdated electronics, store returns, etc.), then it’s time to focus on the items that are useful, but don’t get used very often. Experts suggest two strategies. Choose the one that works best for you, or try using them in combination:

  • The 12-month test – If you haven’t used the item in the last year, get rid of it.
  • The cardboard box drill – Put items you’re not sure about in a cardboard box and set it aside. Whatever gets pulled out and used over the next two months can stay. The things that don’t get rescued should be sent packing.

How to handle keepsakes

Now for the toughest decision of all: What to do with those trophies, mementos, greeting cards, photos, kids’ art projects—and all the other things that trigger strong memories and emotional reactions.

First, go through these things and make sure they’re still things you want to keep. Some items may now remind you of a time—or a person—you want to forget.

Spend no more than 30 seconds reviewing each item. If you allow yourself to start wandering down memory lane, your organizing work will come to a screeching halt.

Take photos of items that are bulky or hard to store—especially the kids’ artwork, which tends to fall apart over time, anyway. Once you’ve captured the item in a photo, let the original go.

If there are keepsakes you inherited from your parents or relatives that hold no sentimental value for you, it’s time to say goodbye.

Stop saving so many things for your children. No matter what they say now, your kids will most likely only be interested in a few key mementos when they’re older. Designate a single memento box for each child.

Other people’s belongings

You should not be storing anything that doesn’t belong to you and/or the other current members of your household. Give back things you’ve borrowed. Get rid of the belongings of ex-spouses, ex-boyfriends, and ex-roommates. Get tough with your adult children; your days of providing a roof for their belongings are over.

Working with a professional

A professional organizer can teach you the tricks of the trade, help you make tough decisions about what to keep and what to let go, and consult with you about the best storage systems. Hiring a professional is also a good idea if you’re having trouble getting started or sticking with it. Expect to pay around $50 to $90 per hour for this kind of help.

Some final words of advice

While you’re getting organized, do not allow yourself to buy any non-necessities. Groceries, yes. But say no to clothes, toys, electronics, sporting goods, and other feel-good purchases.

When you’re done organizing, a good rule of thumb is that for every new item brought into the house, an old one has to leave.

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How to Decide Where to Put the Toilet in Your New Bathroom

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From the beginning of your bathroom renovation, your plumbers and framers need to know where your toilet should go — whether it’ll be mounted on the floor or wall and where the water supply should be positioned. If that’s not complicated enough, wall paneling, tile installation, shower doors and baseboards will all factor into the equation for your toilet location, too.

Don’t feel overwhelmed — finding the right professional can help you get through the technical stuff, and having a handle on these tips and tricks can help you find a spot for your toilet that works for you and your bathroom’s design.

Toilet 1: Enviable Designs Inc, original photo on Houzz

Take Note of Wall Panels and Baseboards

Most toilets are roughed-in 12 inches from the finished wall. This works well for most floor-mounted toilets.

Tip: Some toilets require floor anchoring clips — another limiting factor because it can interrupt radiant heating. Talk with your floor heating contractor before choosing this type of toilet to make sure that the anchors won’t mess with water lines or heating cables.

Toilet 2: kbcdevelopments, original photo on Houzz

What a classic bathroom — I love it. The look and feel of the toilet fits in with the baseboard and crown molding perfectly. I would guess the baseboard wraps behind the toilet for a seamless look.

Tip: It’s very hard to paint behind toilet tanks like this. I suggest painting the wall and installing the baseboard before putting the toilet in.

Plan Out Your Shower First

If you’re planning on having a barrier-free shower near your toilet, consider installing a wall-mount toilet to make waterproofing measures simpler for your contractor.

Toilet 3: Beyond Beige Interior Design Inc, original photo on Houzz

Shower doors also play a role in your toilet’s location. To meet building codes, a shower door needs to open both in and out, so you’ll want to take the door swing into account when choosing your toilet spot.

Tip: Work with your contractor to play with different toilet and door locations when finalizing your shower’s size. Use a piece of string and a marker to draw an arc on the floor to show the door swing. This will help you visualize where a toilet can fit comfortably.

Decide on a Wall Mount or Floor Mount

Installing a wall-mount toilet is a chore. All of them require a wall carrier to support the toilet, and some have very exact water supply positions, which allows for little flexibility in location. However, the look is seamless and modern and has some functional benefits as well.

Tip: A standard toilet is 14 to 15 inches high from the finished floor to the top of the bowl (excluding the fold-down seat). Consider a higher measurement of 16 to 18 inches for your wall-mounted toilet if you plan on aging into your golden years. It may seem high now, but you’ll be thankful for the added height later.

 

Toilet 4: kbcdevelopments, original photo on Houzz

Wall-mounted toilets are great for smaller spaces because the tank is inside the wall. In this installation, you can see that the builder brought the wall forward for this wall-mounted toilet’s water carrier to create a ledge above the sink and toilet for the flush activator. Usually these ledges are larger, and I love the smaller version here.

 

Toilet 5: Fixture Universe, original photo on Houzz

During installation, most toilets are dropped in over two bolts and the bolts are trimmed and capped to keep the toilet in place. Many clean line toilets (which are great for easy cleaning) have separate mounting blocks, and the toilet is screwed into place from the two sides. This Duravit toilet has those great clean lines, but the same easy installation as a regular toilet.

Tip: We have a 10-flush rule with any new toilet. After it’s installed but before using any silicone, we flush the toilet 10 times back to back to make sure everything’s functioning properly.

Note that floor-mounted and wall-mounted toilets come in regular and elongated versions. If you’re tight on space, look for a regular or smaller model.

 

Toilet 6: Bill Fry Construction – Wm. H. Fry Const. Co., original photo on Houzz

Pay Attention to Any Recesses or Compartments

In this photo, the recessed shelves above the toilet allow for more headroom and save space. This clever use of space was no doubt made possible by good planning. Make sure your entire building crew knows about spaces like this ahead of time for a successful build.

Tip: Check that your builders spray paint the framing around these niche locations before any wires, pipes or insulation is installed.

If you are planning a toilet compartment, the NKBA recommends a space about 36 by 66 inches, with a 32-inch-wide doorway. The absolute minimum would be 30 by 60 inches, which leaves just 15 inches of space on either side of the toilet rough-in.

Tip: If you’re worried about the bottom of your toilet scratching your floor tile or hardwood during installation, consider using scraps of Kerdi waterproofing membrane on the bottom of the toilet. Anything that will stick to the toilet bottom — extra peel-‘n-stick tiles, scraps of linoleum, etc. — can work.

 

By JW, Houzz

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