LOCAL MARKET UPDATE

The local real estate climate has cooled down from a red-hot summer to a more sustainable pace, a good sign of a healthy, stable market.

  • Home prices, while up from a year ago, are moderating. The median sales price for single family homes that sold during August was $437,000, an increase of just 1.6 percent from last August.
  • Strong demand for homes close to city centers has pushed prices in Seattle and the Eastside above the county median. The median home price in Seattle increased 9.4 percent over last year to $499,950. On the Eastside, prices were up 5.2 percent from a year ago to $605,000.
  • Inventory in King County remains tight, with about two months of supply, but it is growing. Four to six months is considered to be balanced, so we remain in a seller’s market.
  • Historically low interest rates continue to favor buyers. Mortgage rates recently hit their lowest level so far this year. And concerns that Federal Reserve chair Janet Yellen has voiced about national unemployment rates have experts believing that she won’t raise interest rates any time soon.

If you’d like information on your specific neighborhood, give me a call and I’ll be happy to send you a report.

EASTSIDE EQUESTRIAN LIFE

Did you know that right here in Redmond, WA we have one of the largest most successful therapeutic riding centers in the country? Little Bit Therapeutic Riding Center was founded in 1976 by Margaret Dunlap who suffered from Multiple Sclerosis. Ms. Dunlap found that being on the back of a horse slowed the progression of her disease and was inspired to share her therapies with others. 38 years later Little Bit serves over 230 riders and patients each week with over 20 horses and 350 volunteers.

Little Bit’s mission is “to improve the bodies, minds, and spirits of children and adults with disabilities through equine-assisted therapy and activities, and to be an inspiration and educational resource to the therapeutic riding profession, both regionally and nationally.” Volunteers are a key part of Little Bit’s success. If you’ve ever dreamed of working with horses but didn’t know where to begin, sign up for Little Bit’s volunteer program. You will be trained in the proper and safe handling of their equine partners and you can become a major support to the adaptive riding therapy or hippotherapy program. No experience required! I suspect you will be just as inspired and uplifted by contributing your time as the riders and patients are to receive it. Just like the back of the Little Bit t-shirts states “Does your therapist weigh 1200 pounds?”

To learn more about Little Bit Therapeutic Riding Center please go to www.LittleBit.org or go to Facebook and “like” their page to read some inspiring stories of how these gentle equine giants have changed the lives of countless children and adults with special needs.