By Marc Stiles / Puget Sound Business Journal

As the Puget Sound region's economy continues its stratospheric rise, many are asking how we can avoid replicating the worst elements of San Francisco Bay area—specifically its soaring home prices.

With economic trends in Seattle following the Bay Area's like clockwork, it seems inevitable that our region will indeed become more like theirs.

Shannon and Nick Harper, Senior Director of Strategy & Policy, discuss the MBA's legislative priorities for the 2017 legislative session.

Help advocate for housing

By Kellee Bradley, John L. Scott Real Estate

Q: Any advice going into next year's housing market?

A: It's no secret that the Puget Sound housing market is challenging. Price appreciation and low inventory have created what we in the real estate industry call a frenzy market. Whether you're a buyer or a seller, you need to make sure you have all the information you need to achieve your real estate goals in the coming year.

As we move into 2017, here are five tips for success in navigating the first-quarter housing market, including interest rates, price point, location, home condition, and market conditions.

Interest Rates

The Federal Reserve is on track to raise interest rates slightly through the end of 2017. The National Association of Realtors predicts that by the end of next year, we will see interest rates around 4.6 percent—still in the amazing and historically low range. Lower rates translate into more buying power, which benefits both buyers and sellers.

Serious buyers should contact a professional mortgage broker and get fully underwritten. That means all your paperwork is completed and once you make an offer on a home and it's accepted, you can speed up the closing process. This gives you an advantage over other buyers—especially if sellers are interested in a fast closing.

Price Point

If you're a seller, make sure your real estate broker completes a comparative market analysis (CMA) for you. The CMA includes all homes in the area: active, pending, or sold, and gives you the information you need to price your home to sell with the greatest profit possible.

Are you a buyer in a multiple-offer market? You may want to view homes below your price point to compete in a multiple-offer situation without getting priced out.

Location

Do your research! Ask yourself how far you'd be willing to travel to find the perfect home. Let's say you're only willing to do a 30-minute commute to work. That may translate into 10 miles, given side-street and freeway traffic. Get started by drawing a circle in a 10-mile radius from your work on a map.

Make a list of other things that may be important, like being close to schools, church, aging parents, etc. JohnLScott.com has a tool that lets you draw a polygon map around an area to view only the homes in your price range. You can also sign up to receive email notifications of new listings in that area.

Home Condition

Once you know where you want to live, you need to find a home in your price range in that area. Your real estate agent should discuss what your must haves and compromise points are regarding a new home. Would you be willing to settle for a home with less of a yard if it was across from a park? What about a dated home in the perfect neighborhood? There are some advantages to buying a house that needs TLC, such as building sweat equity.

If you're a seller, make sure your home is in top condition to get top dollar. Ask your broker about simple, inexpensive updates that won't break the bank.

Market Conditions

At John L. Scott Real Estate, our brokers have real-time market updates available so they can maintain a competitive edge, especially in the Puget Sound region where the housing market continues to be so hot. Knowing what the current market is doing, what projections are, and how seasonality and inventory play a part in the buying and selling process is important.

For example, according to the National Association of Realtors, the four heaviest home-selling months are between May and August. Whether you're a buyer or a seller, this type of information should be a crucial part of your strategy. Make sure you get the facts about the current market in your area.

Kellee Bradley is the public relations manager at John L. Scott Real Estate in Seattle and a member of the Master Builders Association of King and Snohomish Counties. HomeWork is the group's weekly column. If you have a home improvement, remodeling, or residential homebuilding question you'd like answered by one of the MBA's more than 2,800 members, write to homework@mbaks.com.

By Margo Greenman, 425 Business Magazine

Headquartered in Bellevue, the Master Builders Association of King and Snohomish Counties is one of the oldest and largest local homebuilders association in the United States. With a more than 100-year history, the association has deep roots in the region.

By Noah Haglund, The Everett Herald

Olympia, Wash.—A state Supreme Court decision issued Thursday upheld stricter stormwater rules for building projects, handing a victory to clean-water advocates looking to protect Puget Sound from toxic runoff.

On the losing side were government officials in Snohomish County and King County and a homebuilders group.

Read article

By MBAKS Senior Policy Analyst Allison Butcher

Region Sees Continued Decline in Supply of Homes for Sale

Housing data highlighted in the latest Builder's Bulletin show our region continues to face a severe inventory shortage, with only 1.14 months' supply of homes for sale in Snohomish County and less than one months' supply in King County. The November median price of single family homes and condos rose more than 15 percent year-over-year in both King and Snohomish counties.

The Builders' Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, U.S. Census Bureau, Office of Financial Management and the Washington State Employment Security Department.

Download this month's report:

By Sadie Normoyle, Built Green™ Coordinator

At the MBA General Membership Gala this December, Built Green announced the winner of our Moving the Market Award. This award recognizes a builder who has stepped up in a big way in terms of their green building portfolio. This year, we decided to award a true “market mover” who not only sets a high bar, but also encourages others to follow suit. We wanted to recognize Dwell Development for their efforts and commitment to moving the market toward a sustainable future.

Dwell Development is founded in the belief that sustainable, efficient design can create a better tomorrow. They are active players in Built Green and have built modern, sustainable homes throughout Seattle and the surrounding area. As leading experts in their field, they work towards the advancement and growth of sustainable design practices. They strive to design some of the most energy efficient homes in the world—homes that have achieved national recognition.

Dwell has certified 108 homes with Built Green since 2008. They certify their homes at the 5-Star level and even certified a Built Green Emerald Star home in 2015. This home was the first Emerald Star home in Seattle and the first Emerald Star home built for the speculative market—a tremendous achievement and a big step forward for Dwell.

Dwell Development won the Built Green Project of the Year Award in 2015 for their Emerald Star home. They also won the 2013 Built Green Hammer Award (Small Speculative category), the 2012 Judge’s Choice Award, and the 2011 Built Green Small Builder Award. Anthony Maschmedt, founder of Dwell, who was present at the General Membership Gala to accept the Moving the Market Award, also won the 2014 Built Green Pioneer Award for his work in the green building industry. Congrats Dwell Development—thank you for building green and for promoting the Built Green program!

The Built Green Hammer Awards recognize Built Green members for their outstanding projects and participation over the previous year. The Built Green Pioneer Award recognizes people who have played an integral role in developing and maintaining the Built Green program. Without the time, energy, and support of these Pioneers, Built Green would not be what it is today.

Photo credit: Alabastro Photography

Santa steps in for Shannon this week to wish all of our members happy holidays and remind everyone the MBA Housing Center will be closed from noon on December 23 until 8 a.m. January 3.

Please be advised that staff will also be off during this time.

By Nick Harper, MBA Senior Director of Strategy and Policy

Dec. 19, 2016—Earlier this month, the Master Builders Association recognized several individuals for their contributions to the Association at our annual Winter Gala and Installation of Officers. The event took place Dec. 8 at the Museum of Flight in Seattle.

The MBA honored three members who have been integral to our accomplishments in 2016 with Member of the Year Awards. Bonnie Geers of Quadrant Homes was named Builder Member of the Year; Joseph Irons of Irons Brothers Construction was named Remodeler Member of the Year; and Duana Koloušková of Johns Monroe Mitsunaga and Koloušková was named Associate Member of the Year.

All three of these members were recognized, in part, for their contributions to our Association's advocacy efforts on behalf of housing.

Bonnie has long been a trusted voice in housing policy and land use discussions at the MBA, regularly testifying before city councils and planning commissions in support of our industry's positions on housing issues. She has also chaired the Association's political action committee, the Affordable Housing Council, since 2014.

As our Association's 2016 President, Joseph Irons has emphasized the importance of Building Synergy Together. This concept of working together as a team and reaching out to build partnerships in the community is a vital element to the advocacy work we do at the MBA. Joseph has also been a tireless advocate for workforce development, stressing the importance of encouraging young people to enter the trades and the need to support them with adequate funding for career and technical education.

Duana has always provided thoughtful input on housing policy and land use issues, engaging with the Housing Policy Committee and the AHC. She also served as co-counsel on the MBA's behalf on a case concerning the city of Seattle's ‘qualifying lot' design review ordinance. In a decisive victory for the MBA, this bad ordinance was overturned.

In addition to the Member of the Year awards, the MBA honored Don Davis, retired director of government affairs, with an Exceptional Service Award. This award recognizes members and staff for their many years of professional leadership and exemplary service to the MBA. Don served the Association for over 32 years, advocating on behalf of housing and working to promote a better climate for housing. Among his many accomplishments, Don developed the fundraising concept behind our Association's "Just Ten Percent" program, which encourages members to donate 10 percent of their GRIP or ROII returns to the Affordable Housing Council to help support housing-friendly candidates and causes. To this day, having contributions to this fund is a critical element in our success on lobbying on behalf of the residential building industry.

The Gala concluded with the presentation of the MBA Hall of Fame award, which this year went to the late Myra Williams. Myra was honored for her outstanding achievement in member recruiting, which certainly contributed greatly to our Association's membership growth. But more than that, Myra was acknowledged for being such an active and engaged member. Her strong enthusiasm for this Association was, and still is, an inspiration to others.

It was also great to see Mark Huber of Huber's Custom Building honored with the Spirit of Service Award and Anthony Maschmedt of Dwell Development recognized with the Built Green® Moving the Market Award—both very well deserved.

Congratulations to all the award recipients! These individuals offer an important reminder of the positive accomplishments that can be realized by simply being willing to step up and lead by example.

Thinking about incoming President Mike Walsh's theme for 2017, "Elevating Our Influence," I'd like to encourage all of us to find ways to engage more with the Association. Whether it's advocacy, community stewardship, or some other area, there are lots of ways members can get more involved in bringing about positive changes for housing and the community.

Photo credit: Alabastro Photography

Listen: The Dunn Lumber Podcast: Document, Document, Document, recorded live September 29 at the Master Builders Association Remodelers Council Dinner. Shelli Lucus-Kennedy tells us how to lower insurance rates and decrease liability using firsthand experience and real-world examples.

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