The Weekly Economic & Real Estate Forecast – 07/27/15 to 07/31/15

Originally posted on The Windermere Economist:

What I Saw Last Week

The FHFA Housing Price Index met my forecast and rose by 0.4% in May. Year-over-year, house prices were up 5.7%.

FHFA IndexThe U.S. index is now 1.8% below its March 2007 peak and at roughly the same level as seen in April of 2006. 

Puget Sound employment continues to rise with all local counties showing significant monthly and annual gains. King County employment rose by 13,700 in June (+52,800 y/y), Snohomish County added 1,100 jobs (+5,400 y/y) and Pierce County added 1,200 new positions (+13,500 y/y).

Co EmpGrowth rates remain impressive; however, we must remember that these numbers are not seasonally adjusted, so the month-over-month figures may be exaggerated. That said, the year-over-year figures are still remarkably positive. I would like to have seen Snohomish County growing its employment at a faster pace, but limited growth in the aerospace industry is acting as an anchor.

Even given the growth…

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The Blue Angels Are Returning For Seafair 2015 – Upcoming I-90 Bridge Closures

It’s that time of year again when the U.S. Navy’s Blue Angels flight demonstration squadron buzzes Lake Washington in a thrilling aeronautic display!  The Blue Angels have delighted audiences across the country for the past 65 years and are a celebrated Seafair tradition here in the Northwest.

Lucky viewers can enjoy the full Boeing Seafair Air Show, including the
Blue Angels, Breitling Jet Team and more Friday, July 31st, Saturday, August 1st and Sunday, August 2nd between 8:30 am (7:30 am on Sunday) and 6 pm.

The Blue Angels jets fly so close to the I-90 bridge during shows and practices that the FAA requires the bridge to be closed to all vehicle, pedestrian and cycling traffic. 

The I-90 bridge will be closed between Island Crest Way on Mercer Island and I-5 in Seattle during the following times:

  • Thursday, July 30: 9:45 a.m. – noon; 1:15 – 2:40 pm  (Practice)

  • Friday, July 31: 11:50 a.m. – 2:40 pm  (Practice)

  • Saturday, August 1: 11:50 a.m. – 2:40 pm  (Full show)

  • Sunday, August 2: 11:50 a.m. – 2:40 pm  (Full show)

 

Find more information at wsdot.wa.gov or seafair.com

Post Author: Jennifer Craven
Photo Credit: Wikimedia, Public Domain Photo

Mercer Island Famers Market: Sunday July 26, 2015

iStock_000005940727_Large Well here we are at the end of *July*! Can you believe it? This Sunday’s Mercer Island Farmers Market will be filled with summer fun and quality, local foods for your family to enjoy.

Tasting Event: Quinoa Veggie Bowls. This simple meal is delicious, nutritious and a snap to make. Stop by to taste one at MIFM and learn how to make them at home.

Children’s Table With Judy: Did you know that some dinosaurs were plant eaters? Stop by the children’s table to plant a dinosaur garden to enjoy at home.

Live Music: July 26th, the live music at MIFM will be provided by The Hi-O Revelers. This dynamic duo plays old time music with a good mix of fiddle breakdowns, mandolin rags, guitar blues and singing duets. Hailing from Bellingham, Katy Harris and Devin Champlin of The Hi-O Revelers are just as at home playing music at a festival as they are sitting on a cooler in the middle of a field playing to the wind. Stop by to hear some truly amazing music played with passion.

And Master Gardeners will be on site to answer questions. Stop by their booth to learn more about gardening best practices and find answers to those questions you have.

Reminder: There will be no market on Seafair Sunday, August 2nd. MIFM will be back on Sunday August 9th with their annual berry pie contest. Bakers – get your submissions in ASAP!

Open Houses: Saturday July 25 and Sunday July 26, 2015

KFKThis week Windermere Mercer Island started collecting shoes for the second Kicks For Kids back-to-school shoe drive in partnership with Mary’s Place. From the Kicks For Kids event page,

“As we handed out hundreds of new shoes at Mary’s Place, we were beyond overwhelmed by the true need that existed there. Many of the kids who came were wearing old shoes that were way too big or small because that was all they had available. It left a huge hole in our hearts and encouraged our Mercer Island office to bring this shoe drive back for an even stronger second year.”

We’re accepting donations of new shoes, youth size 1-6 and adult sizes 7-9, plus Payless Shoe Source gift cards at our office now through Tuesday August 18th. You can also arrange to mail your donation directly to our office— Attention: Kicks For Kids c/o Windermere Real Estate/Mercer Island 2737 77th Ave SE, STE 100 Mercer Island, WA 98040.

Thank you so much for your support. The kids who receive services at Mary’s Place will sincerely appreciate your help and benefit from an awesome boost of confidence due to a new, good fitting pair of shoes to start the school year with.

WindermereMI brokers will be hosting a bevy of open houses this weekend, from as far south as Newcastle and as far north as Kenmore. Water enthusiasts will definitely want to check out the Lake Washington waterfront homes in Kenmore and Mercer Island. Details about each listing available to preview, including a link to a video tour, are below by city.

Have a fun, fab weekend!

Kenmore
$2,150,000 l 751982 l 15011 58th Lane NE l Video Tour l Andrea Iverson l Sunday July 26 1-4pm

Mercer Island

$980,000 l 799821 l 8481 SE 72nd St l Video Tour l Kathryn Buchanan l Sunday July 26 1-4pm

$1,029,000 l 806815 l 8020 SE 72nd St l Video Tour l Jay Agoado l Sunday July 26 1-4pm

$1,699,000 l 800559 l 9020 SE 44th St l Video Tour l Jay Agoado l Sunday July 26 12-4pm

$3,125,000 l 736212 l 4645 Forest Ave SE l Video Tour l Cynthia Schoonmaker l Sunday July 26 1-4pm

$4,588,000 l 797475 l 8252 Avalon Dr l Video Tour l hosted by Julie Wilson, Sunday July 26 1-4pm

Newcastle
$788,000 l 812569 l 11834 SE 78th St l Video Tour l hosted by Erin Sirianni, Saturday July 25 1-4pm; Cherrie Lee, Sunday July 26 1-4pm

The Mercer Island open house list is ready to print right from this blog post! 19 gorgeous island homes are available to preview this weekend. Main features of this week’s offerings includes new construction, lovely remodels, the waterfront lifestyle and homes perfect for the work-at-home executive.
Open House List_7 25 & 26 2015

Mercer Island Farmers Market: Sunday, July 5th

Variety of fresh vegetables of superior quality available in the market. Horizontal Shot.

According to the Mercer Island Farmers Market calendar, Sunday’s market is going to be great!

The theme for the day is: Senior Connection Hospitality Day

Retirement

 

The live music on Sunday will be provided by Sam Landsman Quartet. They play

jazz standards with a saxophone, bass, drums, and tenor.

Over at the Children’s Table With Judy, kids will be treated to Lavender Bundles! They will discover the sweet smell of plants and take a good smell home with you!

And Master Gardeners will be on site to answer questions. Stop by their booth to learn more about gardening best practices and find answers to those questions you have.

Did you know that Mercer Island Farmers Market is on Pinterest? Click here to follow their boards. Also, each week MIFM shares delicious recipes featuring produce in season on the home page of their website. Click here for this week’s recipes.

Welcome To Our New Business Neighbor – New Seasons!

17 Varieties of Non GMO Project Verfied Artisan Breads - Photo Courtesy of New Seasons MarketYesterday brought the big announcement regarding which grocery store had leased the former Albertsons site here on Mercer Island. New Seasons, a grocery store outfit based out of Portland,  will be our new business neighbor come Fall of 2016. The Mercer Island store will be the company’s first Puget Sound location. Here’s a bit of information about New Seasons from their July 15th press release,

“A certified B Corporation with a reputation as the friendliest store in town, New Seasons Market today announced plans to bring its unique neighborhood grocery shopping experience to the Puget Sound region. Its first area store, at the former Albertsons Town Center location on Mercer Island, will feature the company’s signature fresh, local produce, organic artisan breads, sustainably sourced meats and seafood, deli selections and chef-prepared specialties alongside everyday classic brands. New Seasons will remodel the building at 2755 77th Ave. S.E. and hire friendly, knowledgeable staff to welcome Mercer Island to its new store in fall 2016.

Each Store Exterior Is Uniquely Designed - Progress Ridge Store Exterior - Photo Courtesy of New Seasons Market (2)New Seasons also put together a sneak peek of what islanders can look forward to when their doors open. Click here to get the scoop, including information about their Local Finds program, “And we champion the regional economy, no matter where we are—from supporting local vendors through our Local Finds program to supplying our customers with food made by Washington’s diverse array of farmers, ranchers, producers and fishermen.”

If you would like to read more about New Seasons’ announcement and what to expect in the coming months, here’s a few more articles to check out:

Welcome to the neighborhood, New Seasons! We’re excited to hear more from you soon.

Photo Credits: New Seasons l Maxwell PR

Thank You For Helping Summer Celebration 2015 Be So Fun!

I think we’re just about recovered from Summer Celebration – what a fun weekend!!! Thank you so much for joining us at the My First Garden event and at our booth. The kids who entered the coloring contest did such a fabulous job it will be hard to pick winners for each age category! It was great fun to pass out pinwheels and pirate bandannas during the parade. Broker Kathryn Lerner was thanked for the pirate swag, and one island senior told her, “Ooohhh…..I love pinwheels!” While broker Julie Wilson worked at the Windermere booth, 2014 coloring contest winner Molly Rojas stopped by with her sisters McKenna and Maggie to create an entry for this year. And all the musical entertainment at the Windermere Stage – the new stage set up was awesome and made it easier to see the performers.

And a big THANK YOU to all the Windermere Mercer Island brokers who turned out to help during Summer Celebration: Nancy LaVallee, Kathryn Lerner, Julie Wilson, Lara Baca, Denise Coe, Ina Bahner, Cherrie Lee, Julie Barrows, Lis Brown, Cynthia Schoonmaker, Wendy Chan, Erin Ewing, Kelly Weisfield, Marianne Parks, Tom Poole, James Laurie, Kathryn Buchanan, Sandy Yin, Bonnie Sanborn, Fred Fox, Larry Williams, Brian Rosso and Paul Tiscornia. Your help and participation made the weekend a huge success!!

Here’s a photo round up from Summer Celebration. Enjoy!

Photo Credits: JT Barrows, Julie Wilson, Kathryn Lerner, Nancy LaVallee, Larry Williams, Lara Baca and Lisa Lewis