Home Buyers April 28, 2022

Home Buying Tips with Insights From Agents

In Kitsap County, during the first quarter of this year, we had 944 closed sales, with an average sale price of $606K. With the state of the current real estate market, buying a home can be a challenge in Kitsap County. But these tips and insights from some of our Windermere Silverdale agents will help you achieve success.

First-Time Homebuyers: Prepare in Advance

If you are a first-time homebuyer, the process can seem extra intimidating. But if you prepare in advance by finding a great agent and communicating your wants and needs, you’ll be in good hands. Also, it’s crucial to get pre-approved before starting your search.

If you’re new to our area, get to know the local neighborhoods across Kitsap County beforehand. It will really help you find the right home in the community that best suits you. Check out our free Guide to Kitsap to learn more. Be prepared to do lots of house hunting and to act quickly yet strategically. As Realtor/Broker Joe Stevick says, “making quick, effective offers is essential”. You can learn more in Joe’s video below.

 

Buying New Construction: Time is on Your Side

If you’ve got the time to wait for a build, there are many perks to a new-construction home. However, be prepared for lots of paperwork and multi-step processes. One big perk of a new build, according to Realtor, CSP, Steve Derrig, is not starting out with repairs and updates. “Having a brand new house, you do not have big-ticket home maintenance items coming up in your near future.” 

Each part of Kitsap is unique, and while it may take longer to get high-speed internet in some more rural areas, coworking spaces are abundant. Take your time finding the right place to build your dream home. And, choose your builder wisely. As Steve says, it’s crucial to look at homes they’ve built. Tour neighborhoods where they have homes that they built years ago. How do they look now? Do your research to form the right crew. Watch Steve’s video to learn more.

Competitive Offer Situations: Have A Plan

First and foremost, when you are ready to buy a home, interview potential agents and lenders to make sure they are a good fit for you. Also, they should know the local real estate market. In this competitive market, it’s vital to have someone who can help you navigate competitive offers. This includes having a plan for escalation clauses, and the possibility of waiving contingencies. “Your agent should contact the seller’s agent and find out their ideal offer,” explains Broker/Realtor Summer Davy. For more insights, watch Summer’s video below.

Real Estate Market April 12, 2022

Kitsap’s Market: First Quarter, 2022

Curious about how Kitsap County’s real estate market is doing? We had a solid first quarter and it’s still a seller’s market. In 2021, we saw strong buyer demand and low inventory, and that continues to be the case. Read on for key highlights and market trends.  If you have any questions, our local real estate experts are just a click away.

News on Sold and Pending Homes

kitsap-market-sold-graph

In the graph above, you can see a similar rise reflected in market volume that we saw this time last year.  This follows the typical real estate market trend of a cooler first quarter before the market heats up in the summer.  Sold homes still outpace pending listings and home prices are still increasing as a result of high demand. During 2022’s first quarter, 994 homes were sold. That’s up 10.7% year-over-year, showing more market activity.

Kitsap’s Market Still Favors Sellers

list-price-received-kitsap

Since inventory remains low, sellers can list with confidence. Buyers will need to be prepared for competitive situations. As construction ramps back up and the pandemic hopefully continues to wane, we expect to see more homes come on the market.

Listing Price vs. Sale Price

kitsap-market-listing-price-graph

During the first quarter of 2022, we saw a 10.8% increase in home prices when compared to 2021’s first quarter. Since the market tends to heat up in the late spring and summer, we expect prices to continue to rise. Many buyers will continue to meet sellers’ pricing demands, and others are facing affordability issues. Right now, the average sale price in Kitsap County is $606,000.

matthew-gardner-market

Insights from Our Chief Economist

Matthew Gardner, Windermere’s Chief Economist, shared his Top 10 Predictions for 2022 in one of his recent Monday with Matthew videos.  Here’s what Gardner predicts for 2022:

  1. Prices will continue to rise, though the pace of appreciation will slow. Gardner thinks it will be about 6% in 2022 versus the massive 16% rise of 2021.
  2. Spring will be busier than expected.  This will increase buyer demand, as buyers get more clarity in their new hybrid model combining remote and office work.
  3. The rise of the suburbs will also result from this work hybrid model.  Many buyers are moving within the same area they already lived in.
  4. New construction jumps since the cost to build has come down.
  5. Zoning issues will be addressed.
  6. Climate change will impact where buyers live. People will focus more on how safe a location is in relation to natural disasters.
  7. Urban markets will bounce back after the demand drop from Covid.
  8. A resurgence in foreign investors will return since the travel bans were lifted last November. The demand will rise as long as our borders remain open.
  9. First-time buyers will be an even bigger factor in 2022.  This year, 4.8 million millennials will turn 30, the median age of first-time buyers in the U.S.  First-time buyers will be looking for cheaper markets.
  10. Forbearance will come to an end and that will be okay. It was well thought out, and as Gardner says, “as of recording this video, there are now fewer than 900,000 owners still in the program.”  Hopefully, this continues to drop.

Additional Information

You can learn more from Matthew Gardner by reading his Market Update by region or watching his Monday with Matthew video series. And, if you’re new to our area, check out our free Guide to Kitsap.

EventsReal Estate Market January 18, 2022

Fourth Quarter Market Review for Kitsap County

Kitsap County’s real estate market is still going strong, and here’s a look at how we closed out 2021. Just as in previous years, our local market slowed down during the holiday season. There are still many eager home buyers wanting to live in Kitsap County, but fewer homes were for sale during the fourth quarter. Continued low inventory means that our market still favors sellers.

The Latest on Sold and Pending Homes

kitsap-sold-pending-graph

When viewing the last five quarters in the graph above, you can see that we had our usual growth trend in the summer. And, as we moved into colder months, we saw the seasonal slowdown. Home prices continue to rise due to high demand, and sold homes are still outpacing pending listings. The result is a strong seller’s market. In the 4th quarter of 2021, we had 1,291 closed sales, a 4.9% decrease when compared to 2020’s fourth quarter.

Our Strong Seller’s Market

kitsap-list-price-q4-2021

With the new era of remote work and many wanting the peaceful, connected lifestyle that Kitsap offers, demand in our area remains strong. If you’re a local resident and looking to move, it’s a great time to sell. If you’re a buyer wanting to move here, learn about Kitsap County in our free digital guide. And, if you have any questions our local experts are here to help.

A Look at Listing Price vs. Sale Price

listing-price-kitsap-q4-2021

Although most buyers are still able to pay at or above the listing price for a home in Kitsap County, there just aren’t enough homes available right now. Demand is pushing the cost of housing even further in favor of sellers. In our 4th quarter, we saw an 11.3% increase year over year in the average sale price in Kitsap County, putting it at $613,000. While it is a great time for sellers, many are now voicing affordability concerns.

Insights from Our Chief Economist

Looking at the broader real estate market, we have insights from Windermere’s Chief Economist, Matthew Gardner. In his most recent Monday with Matthew, Gardner shared his market forecast for 2022: “If everything goes according to my plan, you should expect to see the housing market start to move towards some sort of balance next year, but I am afraid that it will still remain out of equilibrium until at least 2023.”  This is an important reminder that the transition back to a balanced market will be a gradual shift.

While Gardner ensures us that he “doesn’t see a housing bubble forming,” he is concerned about housing affordability. There is definite cause for concern among the millennial generation as they start to settle down more and more. Millennials are currently the largest group in the generational real estate market, so it will be interesting to see where affordability and demand intersect.

In his video, Gardner concluded by saying, “demand for ownership housing remains remarkably buoyant and, in fact, it is quite likely that demand may actually increase with the work from home paradigm that will start to gain momentum next year.”  In light of this, real estate continues to be an excellent investment.

Real Estate Market October 26, 2021

Tiny Home Living and Some Interesting Insights

From efficiency to affordability, many people are drawn to the idea of living in a tiny home. Tiny houses combine maximizing space with living minimally. Although the concept seems simple, there’s more to this lifestyle than you may think. 

Minimalist Living

The tiny home movement combines mindfulness, environmentalism, and minimalism into an efficient lifestyle. For example, since the living space is only about 400 square feet, a tiny home’s windows can help heat and light its rooms, resulting in a small carbon footprint. In fact, these homes produce about 2,000 pounds of CO2 emissions each year versus the average American home, which produces about 28,000 pounds of CO2 emissions per year.  

Additionally, due to its tight quarters, downsizing and decluttering are key components. Limited space leaves little room for furniture and other items. This encourages using space purposefully and creatively.

While some may be wary of giving up certain things, Seattle architects like Ryan Smith of Modern Shed say that it’s all about doing it the right way. “Living small could mean what’s left is the most important part of the experience.” Smith says his team designs these structures to “solve needs for space”.  Smith has designed hundreds of small places that have served as summer homes, meditation rooms, offices, and winter cabins. Any of their leftover materials are used on the next project so there’s very little waste, and extra wood is used to heat the space. 

Affordable Housing

Another advantage of living in a tiny house rather than a traditional single-family home is avoiding thousands of dollars of debt. The “tiny” alternative provides a big financial incentive. This appeals to retirees looking to downsize and live simply as well as young adults, especially since the average college student loan debt is about $37,000. Most tiny homes can be built within a budget of $50,000. There are some companies that even sell tiny house kits so you can build your own home. Alternatively, there are tiny home designers and architects who will draw a custom blueprint for you.

Additional Benefits

A tiny home can serve as an accessory dwelling unit (ADU) or an in-law apartment. It can also serve as a customized home for someone with special needs, a private living space for a caregiver, or a high-quality mobile home (some remain on wheels), enabling more opportunities to travel and see family. Additionally, a homeowner can rent out their large home while living in a tiny home on their property to save money, reduce their energy bills, and live a low-maintenance life while still enjoying their property and neighborhood.

Tiny Home Residents

Though this may seem like an obvious choice for millennials, there are many tiny home residents who are people age 50 and up. Some researchers expect this to increase with the rising number of baby boomers and Generation X retiring within the next decade.

In a recent study done with 80 tiny home occupants living in Washington, California, Oregon, and Texas, 38% were over the age of 50. In addition, 78% of tiny home residents owned their home compared to 65% of traditional homeowners. 55% of these residents had more savings than the average American, with a median of $10,972 in the bank. 

According to Business Insider, Washington, Oregon, and California are among the most popular states for tiny living. Interestingly, cities that are known for the arts have high concentrations of tiny home residents. San Diego, Portland, and Seattle are popular places for tiny homeowners.

Learning from the Tiny Home Lifestyle

Although living in a tiny home may not be ideal for some, we can learn from those who enjoy this lifestyle. Most tiny houses have three areas: a kitchen, a bathroom, and a sleeping area. From storing dishes and spices to decorating each space – everything is done with care; every inch of space is utilized and appreciated.

Many residents practice releasing their dependence on material items. You might not be ready to do that, but decluttering is an important skill regardless of your home’s size. It is especially vital for those who are considering downsizingTiny homes also emphasize a greener way of living. You can move in that direction by composting, installing solar panels, and reducing your consumption of single-use plastic items. For more on this, check out these eco-friendly ideas.

Real Estate Market October 11, 2021

Third Quarter Market Review for Central Kitsap

Our Central Kitsap real estate market continues to grow in volume. Keep reading for key highlights about our strong seller’s market. 

central-kitsap-third-quarter-stats

Our Competitive Seller’s Market

Central Kitsap’s inventory and demand are higher than they were this time last year. More people are able to work from home and are ready to enjoy life on the Kitsap Peninsula.  And, these eager buyers outnumber sellers – even with Central Kitsap’s growing sales volume.  Our Brokers often see multiple offer situations, resulting in bidding wars. However, if you’re looking to buy, don’t let that discourage you. That’s exactly why you need a local real estate agent to serve as your advocate and provide insight into this competitive market.

Market Data

Our third quarter of 2021 continues to thrive, both in sales volume and the large demand for homes in Kitsap County, WA.  Home prices are still growing at a consistent rate, just as they did last quarter.  This strong growth will probably slow down as we near the holiday season.  And, if price growth does slow, we might see the market shift away from favoring sellers to a more balanced state.

central-kitsap-sold-pending-graph

Central Kitsap’s sale prices are very strong. During our third quarter, they increased by 19.7% year-over-year.  While affordability is becoming more of an issue, it looks like we may be heading toward a more balanced market. More on that in the next section.

listing-sale-price-graph-central-kitsap

Home Purchase Sentiment Index

In his most recent Monday with Matthew video, our Chief Economist, Matthew Gardner, analyzed the data from Fannie Mae’s most recent Home Purchase Sentiment Index. The data comes from a survey containing roughly 100 questions on housing-related topics. Fannie Mae collected 1,000 consumer responses from across the country. As Matthew Gardner says, “It’s the only national, monthly survey that’s focused primarily on housing.”

The survey shows that many Americans continue to think it is not a good time to buy because of the low supply and rapidly rising prices.  However, many feel it is a good time to sell as consumers predict home prices and mortgage rates will go down.  As Gardner explains, “most consumers continue to report that it’s a good time to sell a home, but a bad time to buy. They most frequently cite high home prices and a lack of supply as their primary rationale…However, the good time to buy component did tick up for the first time since March.”  Gardner sums it up by saying, “Consumers tempered both their recent pessimism about home buying conditions and their upward expectations of home price growth.”  So again, we are seeing the potential for a shift toward a more balanced market.

Real Estate Market July 10, 2021

Second Quarter Market Review for Central Kitsap

Silverdale and Bremerton’s Central Kitsap market exceeded performance predictions during our second quarter.  We’ve compiled key highlights below so that you can easily get informed about our local real estate market. 

Our Strong Seller’s Market

In Silverdale and Bremerton, inventory is still low and demand remains high.  Many people are now able to work remotely and that has enabled these buyers to consider areas outside major cities – like Central Kitsap.  Now these eager buyers outnumber sellers.  Our Brokers continue to experience situations where some buyers are outbid either by price or by an all-cash offer in this competitive market.

If you look at the last five quarters detailed in the graph below, the market is still growing year-over-year.  This data indicates the summer market will continue to heat up.

Since our inventory remains low, the prices continue to rise. Historically low mortgage rates are enabling many buyers to purchase homes for higher prices. As you can see below, the listing and sale price divergence is shrinking now. So if you’re thinking of selling, now is a great time to do so. 

Market Insights From Our Chief Economist

In his most recent Monday with Matthew, our Chief Economist, Matthew Gardner, begins with the staggering fact that “prices have risen almost three-fold, as the cost to finance has dropped by 72%.”  If the number sounds too good (or bad) to be true, that’s because it is. To get an accurate picture, you also have to factor in inflation. Gardner explains that “just like other goods and services, the price of a house today is not directly comparable to the price of that same house 30 years ago because of the long run influence of inflation.”  When you adjust for inflation, the rise in housing prices becomes less drastic. Without adjusting for inflation, “prices have risen by 268%”. But when you adjust for inflation, the “real prices have increased by 83.6%”.  Therefore, the increase is much lower than what most people are discussing today.

Matthew also compares mortgage payments, another important piece of the puzzle.  Although, without adjusting for inflation, “mortgage payments have increased by 74.3%,” the inflation-adjusted “real payments are 10.7% lower!”  Of course, there are other monthly payments associated with home ownership. This includes property taxes, which do not change with market fluctuations. But this still indicates “that prices have been able to rise so significantly because mortgage rates have dropped”. It’s also because “inflation-adjusted home prices really haven’t skyrocketed – contrary to popular opinion.”

However, Matthew clarifies saying, “there are some markets across the country where the picture isn’t quite as rosy.  In these places, prices have risen significantly more than the national average.”  The Seattle metropolitan subunit (which extends around our local area) is one of these places. This is largely due to the increasing affluence as a result of the tech boom.

Not a Housing Bubble

Gardner’s bottom line is this: “there are quantifiable reasons to believe that we are not in a national housing bubble today.” However, he does point out that some markets will see a slowdown in price growth given “where prices are today in concert with the spectre of rising mortgage rates.”  Ultimately, it’s still a strong seller’s market with an overall low supply and high demand. We expect to continue to see issues with affordability as prices and mortgage rates continue to climb.

 

Real Estate Market June 21, 2021

Real Estate Investing 101

What is Real Estate Investing? 

To put it simply, real estate investing is the process of taking space (real estate) and making a profit from it. There are many ways to do this. You can be investing in real estate just by renting out a room in your apartment or house. Managing rental properties is one of the most common types of investing. Another common type of real estate investing is flipping houses. (Think HGTV) We asked our agents what advice they would give to others about real estate investing and here are their valuable insights.

Are You Ready to Invest in Real Estate? 

There are many advantages to investing in real estate, some include making extra money on the side and expanding your investment portfolio. Before going out and buying a property, it is important to check if you’re ready for this venture. 

Broker Summer Davy has some questions she asks clients when they have this business venture in mind:

  1. Have you considered the additional costs of purchasing an investment property including repairs, taxes, management fees, and carrying costs until you have a paying tenant?
  2. Are you aware of the neighborhood conditions and the landlord-tenant laws?
  3. If you are buying a flip to rent, are you prepared to do the repairs/upgrades yourself or do you have a contractor or crew at the ready to begin working as soon as you purchase?
  4. How quickly can you get the property ready for tenants?
  5. Are you willing to manage the property yourself or do you have a trusted property manager ready to help you?

As you can see, real estate investing can be a lot of work and may not fit into everyone’s lifestyle. It’s essential that you are aware of the potential costs, time commitments, laws, and expectations associated with this type of project. 

Rental Properties

If you’ve ever rented a place from someone, then you’ve participated in their real estate investment. With some strategic planning and foresight, you could soon benefit from your own rental property.

Joe Stevick, Broker, first advises that you, “Make sure to calculate rental income and appreciation when evaluating properties.”

What is most important in managing rental properties is making sure you have enough capital to do so. You’ll want to calculate the costs of maintaining and paying for the property and how much you’ll approximately gain from rent. For more information, read Windermere’s in-depth article, “Investing In Real Estate Rentals”.

Flipping

From “Property Brothers” to “Fixer Upper“, mainstream media has popularized flipping houses. Sure, it can be a lot of fun and quite rewarding. However, it doesn’t come without work and risks. If flipping houses is something you’re interested in, Broker Melisa Wight has some advice for you:

  1. Setting realistic expectations with real estate investing is key. It’s not as easy as it looks on HGTV!
  2. Putting together a budget is just one piece of the puzzle: accounting for closing costs, holding fees, and unforeseen expenses is how you make or break it in this business.
  3. Building relationships with trustworthy contractors is essential to running a flip smoothly. They’ll have your back if you have theirs. 

Flipping houses require a lot of time and great connections with contractors in order to do it successfully. If you are looking for this type of project and have the skills and means to do so, it can be a great investment option. But before you are quick to snag the first fixer-upper you see, read our article “Buying A Fixer Upper” to learn more.

Commercial Real Estate Investing

If you’re eyeing a commercial space that you’d like to lease or buy, Managing Broker Julie Wurden Jablonski has some advice for you. “Create a business plan prior to buying or leasing commercial space. Mentoring and business resources are available for new and existing entrepreneurs through Kitsap SCORE, the Small Business Administration, Kitsap Economic Development Association, and Washington State University at Olympic College.”

For additional resources, check out “How To Get Started In Real Estate Investing” and watch NerdWallet’s video below. If you have questions, feel free to contact one of our agents

Real Estate Market April 8, 2021

First Quarter Market Review for Central Kitsap

Central Kitsap’s market bounced back in our first quarter after the seasonal slowdown. We’ve compiled key statistics to keep you up to date with our local real estate market.

first quarter market stats

Our Strong Seller’s Market

Central Kitsap just had a great first quarter after the quieter winter season. With Central Kitsap’s proximity to Seattle and Tacoma, it’s appealing to people who are moving away from bigger cities as COVID-19 changes the way we work. There are still many eager buyers outnumbering sellers as inventory remains low and demand remains high. Our Brokers can help you navigate this competitive market. Many current buyers are being outbid and it can be an overwhelming process. That’s why it’s so important to have a local expert as your guide. 

In the last five quarters outlined in the graph below, there’s a similar growth trend when comparing 2020’s first quarter to 2021’s first quarter. And, we saw a 15% increase in closed sales year over year. Get ready for the market to continue to heat up as we move from spring to summer.

sold pending graph

As you can see below, the listing and sale prices both continue to rise as sellers continue to benefit from our inventory shortage.  Many buyers have still been able to meet the pricing demands of this seller’s market. But low inventory means we’ll continue to see even higher prices.  These prices could reach an affordability ceiling where potential buyers will be priced out of the market.

Affordability Issues and Market Insights

Matthew Gardner, Windermere’s Chief Economist, continues to track this affordability ceiling in his most recent Housing and Economic Update: “If the pace of home price growth continues, many households will start to be priced out” of what people can actually afford.  As Gardner points out, we need more supply, and we need home prices to drop to alleviate this market strain.

Unfortunately, that might not happen fast enough for many hopeful homebuyers to make their dream a reality. Gardner reminds us that the cost of materials, recent storms, and the current housing market prices have all added to the cost of building new homes. This, in turn, will add to the listing price.

Additionally, Gardner points out that mortgage rates have risen after “a jump in bond yields has led rates to spike” as the country re-opens and economic activity increases. The resulting potential inflation causes the 10-year treasury interest rates to rise in hopes of attracting more buyers.  However, it is still far below standard rates and shouldn’t be a concern for buyers right now.

 

Ultimately, it’s still a strong Seller’s Market with an overall low supply and high demand. We expect to continue to see issues with affordability as prices continue to climb.

Real Estate Market January 27, 2021

Fourth Quarter Review and 2021 Market Forecast

Silverdale and Bremerton’s Central Kitsap market finished 2020 with a strong fourth quarter. We’ve compiled a comprehensive review of Central Kitsap market statistics, as well as insights and predictions for 2021 from Windermere Real Estate’s Chief Economist, Matthew Gardner.

Central Kitsap Q4 2020 Market Stats

Our Strong Seller’s Market

Central Kitsap remains a seller’s market, like the rest of Kitsap County. Inventory is low and everyone wants to buy a house away from the bigger cities. Buyers, the market is in a regular seasonal slowdown – but not as slow as expected given COVID-19. With many determined buyers and consistently low inventory, the advantage goes to sellers. Our Brokers have seen an increase in situations where some buyers are outbid either by price or by an all-cash offer.

In 2020’s fourth quarter, the average sale price in Central Kitsap was up 6.4% year-over-year at $399K. Sale prices continue to hover close to listing prices, indicating strong demand.

Sold Homes Graph Central Kitsap

Avg Sale Prices Graph Central Kitsap

2021 Market Forecast

In his final Monday with Matthew video of 2020, our Chief Economist, Matthew Gardner, shared his 2021 market forecast. He’s optimistic and for some good reasons.

First off, Gardners expects mortgage rates will not rise significantly on a local level, nor will they vary significantly throughout different regions across the U.S. Since mortgage rates are heavily tied to 10 year treasury maturity rates/yields, rates shouldn’t rise significantly until the entire market recovers from the COVID-19 slowdown.  Another great sign is that Gardner expects home sales will grow significantly, from 5.55% in 2020 to 5.93% in 2021. That’s “to a level we haven’t seen since 2006,” Gardner explains.  With the continuation of historically low mortgage rates and the consistent increase of home values, 2021 looks bright.

“No! There isn’t a housing bubble forming. But price growth will slow & sellers may feel like it’s a collapse … it isn’t collapsing, it’s just normalizing.”

Matthew reminds us that there are pitfalls to be wary of in this strong market. First and foremost: “we need more inventory.”  With the shuffling to new homes, and the huge wave of “first-time buyers [that] will continue to be a major player in the housing market,” many are making moves in a flood that will not persist. Buying during the pandemic will slowly settle. People are expected to stay in their homes longer, especially homeowners who have chosen to refinance. House values will rise due to the lack of supply, and that may price out many buyers who want to purchase in our area. 

Western Washington’s Market Report

For a big picture glance at how our local market compares, here are highlights from The Western Washington Gardner Report.

WESTERN WASHINGTON HOME SALES

  • Total Sales: 26.6% increase from Q4/2019, but 8.3% lower than Q3/2020
  • Homes for Sale: 37.3% lower than Q4/2019, and 31.2% lower than Q3/2020
  • Pending Sales: up 25% from Q4/2019, but 31% lower than Q3/2020
WESTERN WASHINGTON HOME PRICES
  • Average: $617,475 (up 17.4% from Q4/2019). This continues the trend of above-average appreciation of home values.
  • Interestingly, prices between Q3 and Q4 of 2020 only rose by 1%.  Is there a price ceiling we’re reaching?
  • Mortgage rates will stay competitive as the market continues to charge toward a price ceiling and potential affordability issues.
DAYS ON MARKET, WESTERN WASHINGTON
  • Average: 31 Days (16 days less than Q4 just one year ago)
  • In Kitsap County, average days on market: 17

Conclusion

Yes, it’s a Seller’s Market once again.  Matthew Gardner says, “I am moving the needle even further in favor of sellers.”  Here’s why: Covid-19 continues to push homeowners to stay put while renters flock to the countryside.  The resulting limited supply has “caused the region’s housing market to be incredibly active.” Matthew does warn that there may be “affordability concerns” that could prevent some homebuyers from entering the market and eventually slowing growth.
2021 will continue the trend of working from home, which keeps demand high. This, in turn, will drive sales growth, while affordability barriers will balance our current runaway appreciation for home values.
Windermere December 7, 2020

New Agent Spotlight: Joe Stevick

We are proud to feature Joe Stevick in our new Q&A spotlight series. Joe is one of our new real estate agents and brings a range of interesting skills and experiences to the table. He’s a lifetime local of Kitsap County who is involved in the communities he serves and he has also spent time working abroad. Read on to find out more about this caring professional who truly puts people first.

What drew you to real estate?

I was drawn to real estate because I love working in service industries and had recently returned to Kitsap County after a long stint overseas. I was also curious about the increasing costs of housing and the worsening problem of homelessness in our area.

What unique professional experiences or skills do you possess that enhance your abilities as a realtor?

I was in the Peace Corps for three years. This, coupled with working as an operations director for a small chocolate factory in Madagascar, has taught me a lot about people and the level of problem solving and patience that is required to get the job done. Peace Corps really teaches you to understand people and to help them in the best way possible.

What personality traits do you think are important in this profession?

I think patience and a knack for listening to people are important characteristics to have in any profession and real estate is no different.

Which areas do you serve and what do you love about those areas?

I serve all of Kitsap County and Mason County. I love these areas because there is a rural lifestyle that still has access to the city if need be. Also, we have an incredibly diverse group of people in these areas, which I love. Helping people integrate and better their new communities is a passion of mine.

How long have you lived here?

I grew up in Kitsap County, going to Esquire Hills Elementary, Ridgetop Junior High, and Olympic High School. COVID-19 brought me back to Kitsap but the people, lifestyle, and natural beauty of the PNW kept me here.

joe stevick with siblings

“My siblings and I. Where would we be without siblings?”

How are you involved in the community?

I am a member of the East Bremerton Rotary, through which I do a lot of work for the Illahee Preserve. Also, I help out at Olympic High School when I can, and still have affiliation with the Olympic High School baseball team.

What made you decide to work with Windermere?

I decided to join Windermere because I could tell right away that its affiliates were nice and welcoming. Windermere has a respected name and it is because its agents are professional and caring. This is what I wanted to be as a new agent.

We are so happy that Joe has joined us. We know his skillset, professionalism, and sincerity will be an asset to buyers and sellers across Kitsap County and Mason County. You can connect with Joe on Facebook, Instagram, or through his website