The Benefits of Homeownership May Reach Further Than You Think

homewonership, security, stability, annie hyatt real estate, redmond wa real estate, windermere

More than ever, our homes have become an integral part of our lives. Today they are much more than the houses we live in. They’re evolving into our workplaces, schools for our children, and safe havens that provide shelter, stability, and protection for our families through the evolving health crisis. Today, 65.3% of Americans are able to call their homes their own, a rate that has risen to its highest point in 8 years.

June is National Homeownership Month, and it’s a great time to reflect on the benefits of owning your own home. Below are some highlights and quotes recently shared by the National Association of Realtors (NAR). From non-financial to financial, and even including how owning a home benefits your local economy, these items may give you reason to think homeownership stretches well beyond a sound dollars and cents investment alone.

Non-Financial Benefits

Owning a home brings families a sense of happiness, satisfaction, and pride.

  • Pride of Ownership: It feels good to have a place that’s truly your own, especially since you can customize it to your liking. “The personal satisfaction and sense of accomplishment achieved through homeownership can enhance psychological health, happiness and well-being for homeowners and those around them.”
  • Property Maintenance and Improvement: Your home is your stake in the community, and a way to give back by driving value into your neighborhood.
  • Civic Participation: Homeownership creates stability, a sense of community, and increases civic engagement. It’s a way to add to the strength of your local area.

Financial Benefits

Buying a home is also an investment in your family’s financial future.

  • Net Worth: Homeownership builds your family’s net worth. “The median family net worth for all homeowners ($231,400) increased by nearly 15% since 2013, while net worth ($5,000) actually declined by approximately 9% since 2013 for renter families.”
  • Financial Security: Equity, appreciation, and predictable monthly housing expenses are huge financial benefits of homeownership. Homeownership is truly the best way to improve your long-term net worth.

Economic Benefits

Homeownership is even a local economic driver.

  • Housing-Related Spending: An economic force throughout our nation, housing-related expenses accounted for more than one-sixth of the country’s economic activity over the past three decades.
  • GDP Growth: Homeownership also helps drive GDP growth as the country aims to make an economic rebound. “Every 10% increase in total housing market wealth would translate to approximately $147 billion in additional consumer spending, or 0.8% of GDP, as well as billions of dollars in new federal tax revenue.”
  • Entrepreneurship: Homeownership is even a form of forced savings that provides entrepreneurial opportunities as well. “Owning a home enables new entrepreneurs to obtain access to credit to start or expand a business and generate new jobs by using their home as collateral for small business loans.”

Bottom Line

The benefits of homeownership are vast and go well beyond the surface level. Homeownership is truly a way to build financial freedom, find greater satisfaction and happiness, and make a substantial impact on your local economy. If owning a home is part of your dream, let’s connect today so you can begin the homebuying process.


Posted on June 1, 2020 at 2:21 pm
Annie Hyatt | Posted in Uncategorized | Tagged , , , , ,

Economists Forecast Recovery to Begin in the Second Half of 2020

economic recovery, annie hyatt Real estate, windermere, redmond wa real estate

With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up daily. The one that seems to keep rising to the top is: when will the economy begin to recover? While no one knows exactly how a rebound will play out, expert economists around the country are becoming more aligned on when the recovery will begin.

According to the latest Wall Street Journal Economic Forecasting Survey, which polls more than 60 economists on a monthly basis, 85.3% believe a recovery will begin in the second half of 2020 (see graph below):Economists Forecast Recovery to Begin in the Second Half of 2020 | MyKCMThere seems to be a growing consensus among these experts that the second half of this year will be the start of a turnaround in this country.

Chris Hyzy, Chief Investment Officer for Merrill notes:

“We fully expect the economy could begin to pick up in late June and July with a strong recovery in the fourth quarter.” 

In addition, five of the major financial institutions are also forecasting positive GDP in the second half of the year. Today, four of the five expect a recovery to begin in the third quarter of 2020, and all five agree a recovery should start by the fourth quarter (see graph below):Economists Forecast Recovery to Begin in the Second Half of 2020 | MyKCM

Bottom Line

The vast majority of economists, analysts, and financial institutions are in unison, indicating an economic recovery should begin in the second half of 2020. Agreement among these leading experts is stronger than ever.


Posted on May 28, 2020 at 3:54 pm
Annie Hyatt | Posted in Uncategorized | Tagged , ,

My Mom-skills Rock

Yesterday was Mother’s Day so it was a day my children were supposed to shower me with gifts and love and tell me how rad I am.  I like this day. 😁

It is also a day I send a funny card to my own mom who lives in California. I bought the card three weeks ago so that I would solidify my favorite kid status and be the first one to send a card to Mom. Unfortunately, I forgot to send it until Friday and my brother, David, will hang on to the favorite-kid award yet again. Dammit.  Even Chip got his in on-time, but I am giving kudos to his wife for that one.

I was NOT showered with gifts yesterday, but truthfully, my kids tell me that my mom-skills rock often.  I have an amazing relationship with both my teenage girls and I know I am blessed (not lucky…I have worked hard to create this relationship with them).

My oldest daughter wrote me a beautiful note about how she knows she can be difficult and she is lucky that I am her mom (she’s got that right!). My younger daughter was sick, so I took her to Urgent Care. See what a good mom I am?

I didn’t grow up dreaming about getting married and having a family. I think I figured it would eventually happen because that’s what we good Catholics do, but when I had trouble getting pregnant for about four years I thought, “Oh well, maybe we weren’t supposed to have kids.”

I love it more every year and I am really good at it.  My hot hubby and I make a lot of jokes, are sarcastic, and it helps deal with the tougher moments of parenthood.  I am not much of a drinker, to the chagrin of my parents and many friends, but a solid ten minutes in my dark closet taking deep breaths have also made me a better mom.

Although, I totally get the alcohol helping as well.  Once, I was giving the girls a bath and I was so drained.  I had a glass of wine and was buzzed in just a few minutes.  Everything was great: you splashed water all over the bathroom and I have to clean it later? Who cares? You want to use the bubbles that make a ring that is hard to scrub off? Love it!  I called my bestie to share my amazing thoughts and she just laughed at me.  Apparently most parents drink.

Another great mom skill is flipping your kids off as they walk away and then high-fiving the hot hubby as if we showed them. Being immature is the KEY to great parenting.  And a little fear:

“If you don’t turn that tv off now I am going to punch you in the face!”

“The show is over in five minutes, we’ll turn it off then.”

“I said now!”

“Please?”

“Who’s the boss?”

“You are, Mama.”

“Ok, five minutes.”

Nailed it.

Hope you told or were told some mom how rad they were yesterday!

Oh, yea, and since this is my real estate website: market is heating up in so many Seattle areas. Sold a house in my neighborhood in 2 days with six offers. The slow down from last April is no longer slow…at least on the Eastside.

 


Posted on May 13, 2019 at 9:26 pm
Annie Hyatt | Posted in Uncategorized | Tagged , , , , , ,

Sun, Sun, Mr. Golden Sun, Please Shine Down on Me

Here Comes the Sun. Walking on Sunshine. Sunshine of your Love. Good Day Sunshine. You Are My Sunshine.

So many songs about one of my favorite things in the world, and well deserved.  Don’t we all feel better on a warm, sunny day?  Even a cold, sunny day?

Yesterday my car’s outside thermometer read 90 degrees at one point. You have no idea how happy that makes me. Every time I feel the heat on my skin it puts a smile on my face. It feels calming, comforting, and of course, warming.  AHHHH, it makes me say as I turn my face to the sky and open my arms out in a cross formation.

Even my dogs stay outside longer to sun bathe. And they squish themselves into a tiny square of sun that comes through the window in my room in the mornings.  

Sun, you are so wonderful, but you are also so mean to our skin? How is that possible when it feels so nice?  I guess we can say that about a lot of things like, why are chips so delicious but so bad for the heart (and thighs!)?  But I love the sun and I try to get out in it when I can, and that is hard to do here in Seattle.

May is often a month full of teasers here. Mother’s Day is tomorrow and I remember most Mother’s Days have been sunny and warm, and then soon after, it drops 20 degrees and cloudy.  They call this June Gloom.  This May, we have had an amazing week of 70-80 degree weather.  I changed out my clothes to Summer and put away the Winter-wear. No matter how cool June Gloom becomes, at this point, I refuse to wear winter colors and fabrics.

Hopefully, Mother Nature will be kind to us this year and keep the June Gloom to a minimum.  If not, I have a planned trip to Puerto Vallarta in the Summer!

 


Posted on May 11, 2019 at 8:41 pm
Annie Hyatt | Posted in Uncategorized | Tagged , , , , , , ,

Take a Big Deep Breath and Live Here

I just listed the coolest house in a beautiful setting.  It happens to be in my neighborhood, and it really is a great place to live.  The home backs up to a seasonal creek and the setting is perfect for relaxation.

Couldn’t you see yourself sitting on the back deck drinking your coffee in the morning or with friends BBQing on weekends?  Just looking at this picture relaxes me.

There are so many great things about this house: the open kitchen area and entertaining space, a dog-loving yard, the fact it is a rambler (rare in these parts), and the energy in the home makes me happy.  I have known the last two owners, and both families are happy, friendly people.

This is the place to be.  Take a deep breath and just live here.


Posted on April 27, 2019 at 1:36 am
Annie Hyatt | Posted in Uncategorized | Tagged , , , , , , ,

Use Your Whole House

We bought our house almost 14 years ago because I liked the neighborhood and the yard.  My husband actually wanted other homes with smaller yards, but I convinced him this was the one for us because of the fact it was a lot cheaper than the others due to the dated look, and we could remodel it with our own style. Yay, he agreed!  (He still complains about the yard, though.)

 

We immediately did an extensive remodel that added about 300 sf, took out walls, and added an upstairs porch.  We repainted over the years, switched out furniture, and other small projects, but we realized we didn’t use the main family room barely at all.  Originally, when we took out a wall between the kitchen and the family room, we thought we’d have that open concept everyone loved; except the family room was narrow and had doorways and fireplaces that screwed up the furniture placement. It wasn’t a comfy place to hang out until one day I realized I was running in and out of the living room where the tv is to watch a football game while cooking.

“Hot hubby, I would really like a tv in the family room so I can cook and watch football.”  Hot hubby’s face lit up, he likes a project.

“Well, we can do that, but I think there needs to be a focal point above the fireplace with some planking and trim, and maybe some windows on each side to bring in light; oh, and some built-ins for storage; you know we’ll have to change the furniture for it to work…”

When he gets a project in his mind, I just say, “Ya, sounds great,” and let him at it.  Oh my word, it was the best idea ever.  Now this room is used constantly.  It is possibly the favorite room in the house, and the living room is also still used a lot as well when people want to watch different shows, use the larger couch, or play the piano.

“Why didn’t we do this ages ago?!”  I love that our entire house is actually being used all of the time now.

Family Room

What can you do to a room that is never used? Can you change its function? Do you really use that formal dining room or do you need a den?  The fancy living room far from the kitchen: do you ever sit in it other than at holidays? Could you turn the bonus room into a gym now that the kids are older? (We did.)

If you aren’t using your whole house, maybe it is just too big… SEGUE…and that is where I come in!  How smooth was that? 😁


Posted on January 29, 2019 at 7:33 pm
Annie Hyatt | Posted in Uncategorized | Tagged , , , , , ,

See Past the Wallpaper

“If they don’t like my style, then they don’t have to buy the house!” my 85-year old mother says to me when we talk about what she needs to do to get her house market ready.  Truthfully, this a fake scenario since I would never let my parents sell my childhood home; they know I would buy it from them first.  But every time I go visit, my mom asks me what I would do if she did sell it, and every time she belligerently quotes the above.

My mom has style and a great sense of interior design, but it isn’t what would sell a house quickly.  When I was an infant, pictures show a checkerboard linoleum floor, dark paneling,  and an orange leather couch, so VERY 1969. The 1965 Mad Men-like kitchen cabinets are solid wood and have served well for the 53 years she has inhabited the home. I don’t even notice the pastel pink cabinets in my childhood bathroom with flower wallpaper, but my husband did the first time he went in wide-eyed. The formal dining room and living rooms, which we were never allowed in except for special occasions, used to be covered in chintz, but now it and much of the main areas display a Southwest style, which I actually like.

And wallpaper.  Wallpaper everywhere, even on ceilings. My mom has jokingly said that if she and my dad were ever going to divorce, it would be over wallpaper installations.

Today I went into a beautiful home in a gorgeous Eastside Seattle suburb (click to see here), but it was hard to see past the wallpaper (and the hundred rooster representations) throughout the house.  Laura Ashley would have been proud of these interior decorating decisions.  A lot of knick knacks, wall paper, and fabric designs in every room. I can see the love and careful choices the owner made years ago to make her house a showcase, but now the style is a bit much for today’s buyer.

So I have some suggestions for both Sellers and Buyers.

Buyers: See past the wallpaper and thingamajigs. Wallpaper, curtains, and brass fixtures can be removed easily. You will make the house your own and it will be so cool for you and your collection of bobble heads can be displayed prominently until you move on to a new life adventure years down the road.

Sellers: Declutter, declutter, declutter. I know you raised your three, beautiful children there and have amazing memories when your daughter wore the biggest bow in her hair for pictures in front of the Christmas tree. It is time to let your home bring joy to other people who see the home through a different lens and can’t see themselves in the home with all of your many possessions filling the space.

These out-of-style homes are well-loved, and that’s the kind of energy you should want in a new home. It is ready to be updated and welcomed into a new era by your family now.  Except my parents’ house…no one is buying that house but me!

 


Posted on August 19, 2018 at 1:04 am
Annie Hyatt | Posted in Uncategorized | Tagged , , , ,

Exploring Seattle Like a Tourist

Last week, my family and I vacationed in Puerto Vallarta and it was THE BEST VACATION! The beach, the resort, the all-inclusive and the weather all made it relaxing, but it was the Downtown Puerto Vallarta Food Tour  that helped us get to know this super cool (and very clean) Mexican city. We learned, of course, about the where the locals get their tacos and the different types of tacos offered.  On the hot and muggy day, the agua fresca cart and the coconut water cart helped keep us cool.  My favorite part was learning about the history of the town as we walked 3 miles on the 3-hour tour.  Thank God we walked that far as it was a challenge to eat everything along the way. 🙂

When we got home, a friend of my kids came to visit from Italy and we wanted to do something fun.  A Seattle food tour seemed like the perfect excursion since we had so much fun on the Mexican food tour.  There were many to choose from, but with 3 teenagers, we decided the Chocolate Indulgence Tour was a good fit.

We ate little before we arrived so that our tummies would be ready to indulge in chocolate goodness, and boy, did we! Our tour guide told us how chocolate became the second most popular staple in our city, as well as how chocolate came to be and how it is made.  We walked around the town (burning calories) to different chocolate shops and bakeries and tried everything from Triple Coconut Cream Pie at Dahlia Bakery to sipping chocolate at The Confectional in Pike Place Market. We were so close to eating all the way through, but we tapped out before the last stop and took our treats from Fran’s Chocolates home.  

Gosh, why don’t we do this more often? I have lived in the Seattle area over 20 years and I really haven’t taken advantage of all it has to offer.  There are amazing restaurants; I know because I have read about them in Sunset Magazine.  There is an enjoyable King County Water Taxi from West Seattle to Downtown; I know because I read about it Coastal Living.

Seriously, Annie Hyatt?  Get off your duff and go do things in the city where nowhere is more beautiful on a sunny day. I want to know the city I have come to love (even though it rains a bit more than I appreciate), and it seems touristy outings are what is going to get us to really know this city.

I literally just made reservations at Dahlia Lounge for dinner tonight.  Look at me being crazy.

Next tour stop: Seattle By Foot | Seattle Coffee Crawl of course!!


Posted on August 11, 2018 at 8:50 pm
Annie Hyatt | Posted in Uncategorized | Tagged , , , ,

Strict Condo-building Laws… Can REALTORS Change Them?

In my area, there are many young, hip techies who work for one of the large tech companies that call the Seattle area home.  These people want new, updated, gadget-full homes, but don’t necessarily want a large home or yard.  Condominiums are what they are looking for, and new ones at that; but, I literally have nothing to show them in our area.

Within the last 10 years, the condominium building laws have become so stringent that builders are guaranteed to be sued, and builders are finding it isn’t worth the litigation costs, so they build apartment buildings instead.

The REALTOR association is working hard to change those laws so that builders will want to take on condominium projects again.  This article from nwrealtor.com discusses this push:

Condo work moves forward after inertia-building year

Condos that open homeownership options to buyers are a much-needed missing piece of inventory in our market. Due to Washington’s laws around constructing them, however, they’re just not being built.

The good news is that the condo ball is rolling – and picking up speed. REALTORS® have plans to keep fighting for condo law reform to create more inventory and bring our market back into balance.

Washington REALTORS® Government Affairs Director Nathan Gorton and CEO Steve Francks stopped by our Government Affairs Committee meeting earlier this month to share these exciting updates on the Association’s refreshed efforts to create laws that support condo construction and ownership.

Francks took a few moments to impress the significance of this issue upon the committee. “This is a hugely important issue at the state level,” said Francks. “And on a personal note, I am concerned that my kids aren’t going to be willing or able to move back up here and fulfill the American dream of homeownership.”

Between now and January 2019, expect to see several initiatives move forward, including the forging of new relationships with legislators in leadership roles for support and the creation of a coalition of REALTORS®, attorneys, and insurers. Optimistic about the coalition’s potential, Gorton highlighted how REALTORS® are uniquely positioned to advocate for these changes because of their perspective. “REALTORS® can see all sides of this because our interests include both increasing supply with new construction and protecting consumers,” said Gorton.

For REALTORS® that want to get off the sidelines and help, Gorton provided clear action steps.

  • Talk to your legislators about the lack of affordable homeownership options in your district.
  • Compile stories about clients who should be homeowners but can’t make it work in this market – and send them our way. “All of you have stories about clients who should be homeowners but aren’t because they can’t afford anything. Share those stories,” said Gorton.
  • Write letters to the editor about affordable homeownership challenges.
  • Invite a legislator to tour your office and use that opportunity to talk with them face-to-face about the challenges your clients are facing.

REALTORS® can’t succeed in their business without homes to sell. Seattle King County REALTORS® will continue to keep you in the loop on our efforts to close the condo gap in our market.

Still not convinced that we have a serious supply issue, and that more condos would help? The Seattle Times recently began a column explaining what’s going on with our housing market. Read the first post here.


Posted on May 27, 2018 at 8:33 pm
Annie Hyatt | Posted in Uncategorized | Tagged , , ,

The Shed: So Many Possibilities

Man cave? She shed? Mother-in-law dwelling? Whatever you want to call the extra building in the yard, I want one!

I have been telling the hot hubby that I want a space that doubles as an office with a side area for garden tools.  He has now dubbed it The Sheddy Office. 😊

I see them all over Pinterest for crafts, workout rooms, office space, guest houses, etc. and they are all so charming and cool.  I want one so freaking much!  Right now, I am doing an open house that has one in the back yard. The Sellers built it for their music-making hobby.  There is a sound board, a small, closed-in recording corner, and a guest bedroom with half bath.  It is super cool. (See pic below)

 I picture mine in our yard where the lonely, probably dangerous, swing set is now.

I see it painted similarly to our house with a lot of windows and a large opening to let the warm air in when it is summer.  It will be painted all white on the inside to keep it bright because, as you can see in the picture above, the forest shades that area quite a lot. I would use it as an office but would like enough space that my daughters can practice dance and have a quiet place to play the guitar.

According to my contractor, in my area, one can build a 20 x 20 structure without permits, but that doesn’t include electrical or plumbing.  When adding those, you need permits. You don’t want that sort of work done with short cuts or it could be a huge hazard for you and your family.  20 x 20 is a good-sized building for the use I intend it for.

Why am I waiting? Obviously, I have plenty of room.  Cost.  It’s not cheap to build something nice. Now I could do it cheaply, but we have SO MANY other house projects that this one will have to wait.  But maybe not for too long… because I want it so badly!!! 😊

 


Posted on May 8, 2018 at 8:18 pm
Annie Hyatt | Posted in Uncategorized | Tagged , , ,