In the past we have commented about a number of energy saving programs available in the marketplace. One of those great programs is the Small Business Lighting Program offered through a partnership of Puget Sound Energy and Thurston Energy (a program of the Thurston County Economic Development Council). This lighting program helps small businesses convert to more efficient lighting fixtures. This process results in significant energy cost savings and better light.

We have been so impressed with results we’ve seen around town that we are currently undertaking the project at our building. For us, the program started with a walk-through of our building by representatives from PSE and Thurston Energy. Their analysis estimated that we could save one-third of lighting costs by replacing our existing fixtures.

Of course, this is one of those programs where you have to spend to save. That is not always a winning financial proposition. While the cost to replace the fixtures is not a small amount, this program is great for small business because PSE may pick up a sizeable share of that upfront cost. In our case, PSE is covering about 60% of the expense. The remaining 40% will come from our pocket and be covered within 18 months through energy cost savings. After that, we will enjoy true savings to the bottom line. And the kicker is that the new energy efficient fixtures will provide better quality light.

If you are interested in this program for your own business (or as a retention program for your building tenants who pay for utility services), visit Thurston Energy at www.ThurstonEnergy.org or the Savings & Energy Center at www.PSE.com.

As reported by the Northwest Multiple Listing Service, the January housing market shows positive signs. Overall the numbers look very good. For the entire NWMLS area, single family pending sales are up 12.2% over January 2011. Closed sales were up 5.4%.

“While locally, the numbers are flat – with 236 pending sales this year versus 235 last year, this year we produced better results with 25% less time to do it – factoring a week of lost activity due to the snow and ice. Under those circumstances, the numbers are phenomenal,” expressed Ken Anderson, President, Coldwell Banker Evergreen Olympic Realty. “As a good sign for the coming months, we are hearing increased reports of much higher interest from trade—up and trade-down buyers,” he continued. Adding, “the time for buyers to jump into the market is soon, as we are seeing stiffer competition on the best homes in each price range. Active inventory is down 13.3% from a year ago. There are now just 1,264 homes on the market. Inventory hasn’t been this low for six years.” 

Improving numbers show the artificial stimulus of the tax credits was not the key to the recovering market, suggested Anderson. “Instead, today’s affordability has buyers in all price segments returning – and feeling more confident about the future.” While pending sales may not appear to be much higher than 2011 (up 13.7 percent in January), the numbers are astoundingly good, considering such factors as harsh weather and the tax credits that boosted sales at this time a year ago, said Anderson. 

This is the first January in four that we can make a reasonable year-over-year comparison,” said Anderson, noting numbers are no longer skewed by the artificial stimulus of various tax credits and incentives that date to 2009. “The improvement in the numbers show that the market is healing itself and standing on its own.” Anderson commented.

Home value is top of mind for many homebuyers, particularly as our housing market begins to show early signs of recovery.  Renovations and remodeling can play a critical role in both increasing the value of a home and ensuring that it stands out to potential buyers. 

Before breaking out the tool belt, Coldwell Banker Evergreen Olympic Realty advises homeowners to speak with one of our  brokers to learn which home improvements most appeal to buyers.

The following inexpensive updates to your home may increase its’ overall value and help it stand out from the competition: 

Reface Kitchen Cabinets. Kitchen updates are among the smartest remodeling projects when it comes to “upping” the resale value of a home. But homeowners do not need to spring for an entire new cabinet set to improve the room’s appeal. Refacing existing cabinets, applying a fresh coat of paint or replacing tarnished pulls and knobs with new hardware might be just the quick fix a kitchen needs to make it look and feel like new.

Improve the Lighting. Updating lights and lighting fixtures is another simple enhancement that does not require a major investment. Replacing old bulbs with stronger, more energy-efficient compact fluorescent bulbs will brighten up the house and make it more inviting.  In addition, you will cut down on energy costs over the long term. Replacing recessed lights in a dining or living room with an affordable chandelier or installing accent lighting to draw attention to artwork or other room features can create an entirely fresh ambiance.

Freshen up a Fan. An updated ceiling fan can result in a more contemporary feel, but purchasing a new one isn’t always a necessity.  Improving an existing fan is simpler than homeowners might think and does not have to come at a high price. First, try unscrewing the fan blades and turning them over. Typically, blades have alternate colors or patterns on the reverse side. If not, simply add a coat of paint and reattach. One can even install new pull chains so the fan accents any new lighting fixtures or cabinet hardware.

Hang More Mirrors. It sounds simple, but the addition of a mirror on any wall adds depth and light to a room, making even the smallest space seem larger. Mirrors also add elegance and charm to a home’s décor, and often at a reasonable price.

Break Out the Paint Brushes. Applying a couple coats of paint can make a remarkable difference and is always a low-cost, high-return project. Warm, neutral wall color can make a room seem more spacious, create a modern feel and appeal to a wider variety of buyers.

Install Laminate Flooring. Even if the cost of hardwood or tile floors is out of the question, for under $5 per square foot, homeowners can easily install laminate flooring in their kitchens, hallways and bathrooms – provided that floors are level with those in adjacent rooms. Laminate flooring can hide chipped tiles or old linoleum and give the room a more modern feel.

Refinish Your Appliances. Purchasing brand new, matching appliances can cost thousands of dollars. However, for a few hundred dollars, an appliance refinisher can re-enamel the surfaces of appliances covering up any out-dated colors that may be ruining the look of your kitchen.

Spruce up Your Home’s Exterior. When planning to put money into a house, homeowners should not overlook simple exterior renovations that can add substantial worth and attract more buyers. A freshly-mowed lawn, a clean, even walkway and a few well-placed bushes can make a huge difference. If you don’t have a green thumb, consider hiring a landscaper on a one-time basis to plant some shrubs or give the front yard a good cleanup.

If you are planning to sell, we suggest that you speak with one of our brokers before investing in renovations.  They will compare your property to the competition and provide expertise about the potential rewards before you begin the work.  Of course, homeowners who are not comfortable doing home improvement projects themselves should hire a qualified professional.  We would be happy to review your property and provide feedback, including local, trusted contractors.

Today’s housing market presents considerable opportunities for home owners looking to be “move up” buyers and enhance their lifestyles. Prices are stabilizing in our area, interest rates are near historic lows and the high inventory provides many choices.

Even amid such incentives, many move-up home buyers remain on the fence about making the lifestyle change they desire due to concerns over selling their current property. Many sellers want to wait to sell until prices rise rather than making a price reduction to market value on their current home.  If these sellers are trade up buyers that decision will cost them money.

While the value of your current home may have seen some decline, the “move up” home has also seen a price reduction. Consider the example of the seller who wants $300,000 for a home with a market value of $270,000.  That seller wants to trade up to a home that was also 10% overpriced at $450,000, but is now reduced to market value of $405,000.  By reducing to market value now, the seller fo the $270,000 home would be ahead $25,000 compared to waiting for the market to rise back up another 10%.  Further, when the market improves and price appreciation returns, the more expensive home will see a higher dollar increase.

So, is now the time for you to be a “move up” buyer?  Coldwell Banker Evergreen Olympic Realty offers the following thoughts to consider.

Have you built substantial equity in your current home? Home equity can be defined as the value of a home, minus the amount of outstanding debt. Although equity does not generally develop in the first few years of home ownership, five or more years of home payments may create significant unrealized gains.

Has your income or financial situation improved? Homeowners should consider their overall financial situation including current and future expenses in order to make an educated decision on the price range for a new home. For example, an increase in salary may allow for an increased mortgage.

Has your lifestyle changed? Lifestyle changes are the most common reasons people choose to move. Starting or adding to a family may require an extra bedroom or additional square footage, as well as a desire to live closer to work, family or a particular school district can all be inspiration for a move to a larger home or new location.

Is your current residence one that could potentially be rented out? For homeowners who are ready to make a move but are concerned about purchasing a new home before the current property is sold, renting out the current residence may be a viable option.

Are interest rates attractive? A low interest rate means lower mortgage payments on homes of the same price. Recent rates have been very competitive. Your real estate broker can recommend a local lender to discuss current rates and qualifying for a mortgage.

As we begin the new year, we’d like to again share some basic changes homeowners may incorporate to create a more eco-friendly home.  ”Going Green” has moved beyond installing energy efficient appliances and swapping out incandescent light bulbs for compact fluorescents.  With luxury condos touting eco-friendly features like rain water recycling, and home builders incorporating energy saving features into new homes, it’s no wonder more home buyers are asking about “green homes.”  

“It makes sense on a number of levels to incorporate green principles into a home and consumers are often surprised at just how easy it is to do,” said Ken Anderson, President, Coldwell Banker Evergreen Olympic Realty.  “The Northwest is a leader in recycling and protecting our natural resources.  Homeowners are very conscious of utilizing the many recycling programs we have in the south sound.  These practices are leading buyers to look for ‘green’ opportunities when purchasing a new home and these tips will help your home stand out from the crowd.”

The following tips outline how to make homes sustainable, energy- and cost-efficient now, and appeal to eco-conscious homebuyers:

1. A Ray of Light:  South-facing windows provide more natural daylight making a home more bright and cheery. Further, natural daylight can help keep the indoor climate comfortable during the winter months, allowing a homeowner to set the thermostat a bit lower. Alternatively, drawing shades during key daylight hours during the summer can help cut down on air conditioning needs.

2. Green Gardening: Sustainable landscaping is becoming all the rage to eco-conscious homeowners.  Planting native plants, vegetation and shade trees strategically around a yard can keep a home cool during the summer and block cold winds during the winter.  In addition, native vegetation thrives in its preferred environment without requiring excess water.

3. Dial it Back: Lowering the settings on water heaters, refrigerators, dishwashers and laundry machines reduces the amount of energy required to maintain the temperature. Installing low-flow sink faucets and shower heads also lessens water consumption.

4. Reuse Rain: Recycling rain water for gardening is another great way to conserve. For example, a water collection system under drains can catch excess water that can then be reused for watering landscapes.  This is an easy, positive way to endure our wet winter and springs!

5. Less Lawn does More: Eliminate as much of the lawn as possible and plant native bushes, flowers, etc. In our mild northwest climate, simply cutting back on the amount of lawn space to mow can promote energy conservation. 

6. Turn Old into New: Refurbish the home’s existing materials when remodeling instead of buying new ones (cabinets, tiles, flooring). If brand new appliances are required, homeowners should make sure they are energy-efficient, and should consider donating their old appliances to be recycled or reused.

7. Insulation is Key: Insulating cold-water pipes will prevent them from dripping condensation, and insulating hot-water pipes will prevent costly heat loss and save on energy bill.

Just because the weather outside is dreary, the home selling experience doesn’t have to be. Traditionally, the spring season is known as the time when home buyers are out in full-swing looking to purchase, but winter months can also bring in motivated buyers who are looking for a change and attracted to our market and low interest rates.

Here are five suggestions from Coldwell Banker Evergreen Olympic Realty on how to take your home from cold, to cozy, to sold:

Keep the Outside Manicured. Don’t let the cold weather dampen your home’s curb appeal. Always keep a clear path from the street or driveway to the front door to ensure home buyers can easily get to the home. To brighten up the outside of a home plant some flowers that are in season in the winter such as Chrysanthemums, Evergreens or Pansies. If it’s raining or snowing, put a rubber mat by the front door and provide a coat rack and bin to easily store jackets and umbrellas while potential buyers enjoy viewing your home.

Focus on Letting in the Light. Since the sun isn’t flowing into your home during the winter as it may during the rest of the year, open up the shutters, raise the blinds and push back the drapes on all the windows in your home to let in as much natural light as possible. Take time to clean your windows both in and out.  Make a point to turn on all the lights, and for rooms that don’t have any windows, consider adding spotlights on the floor behind furniture.

Create a Cozy Mood. Winter is the time of year when you want to cuddle up with loved ones at home, so make your house feel like a winter retreat. Toss throw blankets across the arms of your sofa or chair, place vases of winter flowers around the house or place a breakfast tray on the bed with coffee cups, saucers, napkins, etc. This will give your home an irresistible cozy feel.

Emphasize Sight, Sound, Scent and Taste. For a warm look, give your home a good scrub to make it sparkle for potential buyers and add photographs that showcase the home during the summer with flowers blooming and lush green lawns. Turn on some inviting music, like jazz or classical, that is soothing and will make the potential home buyers feel relaxed during their viewing. Make your home smell warm and inviting with scents of baked goods, such as cookies or apple pie. A light scented candle may be a good choice. Avoid strong scents from sprays or plug in air fresheners because many people are allergic. For an open house consider serving comforting winter foods and beverages to give viewers a taste of home.

Check all Home Heating Systems. Depending on the length of time that the furnace or heating system has been installed in the home, consider providing a history of service and having an inspector check to ensure it is working properly. Make sure basement pipes are insulated or wrapped, especially those on outside walls. Finally, to ensure the fireplace does not cool off other parts of the house make sure there is a vent on the outside wall and that there are glass doors in front of it. All of these extra inspections will provide reassurance to prospective buyers that the home can stand up to the harsh cold of winter.

Homebuyers who delayed the purchase of new home are tired of waiting and are now ready for a move.  Compared to last year, pending home sales continue to climb and according to the National Association of Realtors, November home sales gained and ”reached the highest level in 19 months.” 

For more information please read the full article by the NAR at:

http://www.realtor.org/press_room/news_releases/2011/12/phs_nov

 The Holiday’s are here and as Coldwell Banker discovered, “There’s no place like home for the holidays”.  Where will you spend the holiday’s this year?  This Coldwell Banker video asks people that question and to share some of their favorite memories and traditions.

Enjoy!  Happy holidays from all of us!

 http://youtu.be/3QmxkDW8myk

If we had to pick one word to describe the housing market right now it might be “confidence.” All markets are influenced by fear and exuberance, which are in essence some form of confidence – either too much at the top of a cycle or too little at the bottom.

The housing market around many parts of Puget Sound continued to build momentum over the last 6 months. Confidence is propelling double digit percentage growth in sales in most Western Washington counties. (See Chart 1.)  Greater confidence is coming from two places:  home prices and the job market.

Home Sales Growth

In Pierce County, home sales are up 18%, second highest around the Sound. This big jump might be surprising considering Pierce has the highest unemployment rate (9.9% in August) of the major western Washington counties.  Prices appear to be the biggest factor instilling confidence in the Pierce County Buyer.  The median home price is down 31% from the peak of the market in the summer of 2007.  This percentage drop in prices is second only to Snohomish County where median price is off 35%.

Buyers report that affordability is one of the main reasons they have entered the market.  However, jobs, or more specifically in this economy, the future prospects for jobs, is absolutely a key component to housing market confidence.

King County is seeing substantial gains in home sales, up 13% from a year ago.  At 8%, King County’s unemployment rate is still high, but confidence in the private sector job market is on the rise.

Even though Thurston County’s unemployment rate is near King County’s, home sales here have not bounced like they have up there.  Given the uncertainty with the state budget this may not be surprising.  In fact, in the face of declining state revenue what might be surprising is that our market has produced the same amount of sales as last year.  This is a sign that buyers are finding compelling prices on many homes.

Confidence is hard to maintain without certainty.  It will take a combination of factors to improve certainty in our local market, including the state developing a sustainable budget, and continued statewide growth in jobs, revenue, and housing sales.  At that point, we will return to sustainable growth in housing here in Thurston County.

The holiday season is a time to stop and give thanks for the good things in life. We were recently reminded of one of the biggest reasons this area is such a great place in which to live and work.

For the past eleven years, a group of local nonprofits host a luncheon to celebrate philanthropy in our community. This group, known as the South Sound Partners for Philanthropy, is a collection of 36 charitable organizations that provide vital services to people throughout the region. The work of these organizations strengthens our entire community.

At this year’s luncheon, the South Sound Partners issued their annual Leadership in Philanthropy Awards to a number of community members. The Nisqually Tribe, the Lacey Sunrise Lions Club, and the owners of Ramblin’ Jacks/Mercato/I.talia restaurants, were recognized for their groups’ philanthropic efforts.

In addition, the Seaman family, Sylvia Barclift, and the owners of our company, Ken and Nancy Anderson, were recognized for their charitable work over the years. Ken Anderson said, “Everyone at our company is proud to support the local non-profits within our community. In our work every day we see how these non-profit organizations are positively impacting the lives of people here. This is a big part of the soul of our community. Their selfless example inspires us.” Our real estate company received the Business of the Year award in 2005. Ken explained, “We are humbled to be recognized among the best corporate citizens. The local non-profits are recognizing real needs within the community. They efficiently and effectively respond to them, but they need our help.”

Of course, as residents we all might be a little biased. However, Thomasina Cooper, the Development Director of SafePlace and this year’s president of the South Sound Partners for Philanthropy, offered some compelling, objective evidence as to why our community is so great. Thurston County far exceeds the national average for per capita donations to charitable endeavors.

When accepting his family’s philanthropy award, Scott Seaman, the Principal at Tumwater High School, provided yet another great example. Our community graduation rates are among the highest in the state and nation. The family support and the people and programs in our schools are the main driver of these rates. The work of many local non-profits also helps those kids most vulnerable to drop out stay on track.

However, the best example of our community’s unique spirit might just be that an organization like the South Sound Partners for Philanthropy even exists. Raising money for charitable endeavors is highly competitive.  In most places, competing non-profits would never dream of collaborating. So the fact that these non-profits come together to share best practices, inspire each other, and work to lift the awareness of their missions is a shining example of the generous spirit that lives within our community. They are living examples of the theory that a rising tide lifts all boats.

So while the luncheon was ostensibly about recognizing a few people for their work, for us it was more of a reminder about the greater generosity within our community and how the work of great non-profit organizations makes this an incredibly great place to call home.  Join us this holiday season in giving thanks for these great community partners.

To learn more about the South Sound Partners for Philanthropy and how to support their missions, visit www.CelebrateGiving.org.