February 2019 Reece Homes Newsletter

2019 has come in with a bang and we've hit the ground running, some of us literally and some figuratively.  With each new year, there is a tendency to see it as an opportunity to reset, to resolve, and to wipe away last year and start fresh.  Here at Reece Homes we are always striving to do our best, to grow, and learn from the past while always moving forward. 

We asked our staff to share their most valued experience their New Years Intention brought them and this is what they shared:

• Jamie: "My core intention this year is to experience love, joy, and gratitude each day, and thus far 2019 has been a wonderful start to the journey.  Even in the toughest days, this intention has helped me find gratitude for the lessons of failures, and joy in growth coming from my morning training routines".
• Sarah: "My intention for 2019 is to focus on living a heart-centric way, to spend each day focusing on the people, activities, and subjects that really excite me.  There are truly meaningful moments to be grateful for; spending dinner with my family, going for a walk when the sun is out, getting a bank account to reconcile correctly, there is at least one each day and often more that is so perfect I want to hold on to it.  I didn't realize how often these moments popped up until I paid attention". 
• Enid: "I've already had the opportunity to put into practice a valuable lesson taught to me by good friends, I get to decide how I show up in life and situations.  Gratitude can be found/expressed in the good and the bad.  In 2019 I will move forward in gratitude and hope".
• Maggie: "Throughout my life, there've been many coincidences that make you sit back and say "wow"!  Some are life altering and some are pretty minor.  My New Year started with one of the minor ones.  I've known I needed new tires - in fact, in last month's newsletter, I had them on my Christmas list.  On New Year's Day, there was an offer on tires I couldn't resist, Wow! Hmmm, I wonder what other "wow" moments I'll have this year". 
• Anne-Lise: "This year I"m going to commit to consistency.  It's easy for me to get pulled in different directions but I want to set specific and measurable goals each day.  Using the 80/20 model I will set goals for the day such as lead gen and working out and if those are the only things I accomplish that's all I need to get to my ultimate goal".
• Jerry: "I have always wanted to play a musical instrument.  After reading "Atomic Habits" I am going to use some of the techniques mentioned in this book to create a habit of piano practice rather than just say I am going to learn piano.  You have a much greater chance of achieving a goal if you have a SMART plan.  Attitude is everything, 'I get to' rather than 'I have to'".

In addition to focusing on gratitude and hard work, we're also really optimistic about 2019. 

Three Reasons for Optimism for the 2019 Housing Marketing

While 2018 saw it's share of turbulence in the local real estate market with an uptick in interest rates, the City of Seattle vs. Amazon 'head tax' battle and national election headwinds, we see 2019 as being a calmer more predictable year due to:

• Lower Interest Rates: rates have returned to the low 4% range dropping nearly 1/2% which boost home affordability significantly
• Strong Early Buyer Activity: more than 500 new listings have come to market and sold in the first two weeks of 2019 with more than 60% of these listings spending 7 days or less on the market.
• Steady Migration & Low Unemployment: throughout 2018 we continued to see net immigration into Western Washington primarily from California, Oregon, Texas, Florida, and Arizona at levels which are exceeding new home and land development.  Meanwhile, our unemployment rates are at historic lows.  This adds up to strong demand and capability for people in the region to purchase property.

If your home is owned by someone else or is too small, too big, or too far away from the places you want to be, give us a call and we can see if 2019 will provide the right market for you to make you move.

As we enter tax season we want you to be aware of some updates that may impact you.

Update on Federal Tax & Home ownership:

Homeowners are still getting used to the new tax laws passed in 2017 which limited a number of tax benefits.  Here are the major tax benefits of homeownership headed into the 2019 tax filing season:

• Interest Deduction: you may deduct interest on up to a total of $750,000 of acquisition or improvement financing on up to two residences unless the debt originated on or before 12/16/2017, in which case the limit is $1,000,000.
• Property Taxes: on principal residences and second homes are still deductible, however you are limited to a maximum of $10,000 in deductions for state and local taxes, including property taxes.
• Home Equity Interest: no longer deductible unless funds are used for substantial improvements to, or construction of, a home.
• Capital Gains on Principal Residence: unchanged, $250k or $500k exclusion from gain taxes for single/married persons selling principal residence occupied for a least of 2 of last 5 years. There is no requirement to reinvest funds from a gain in a new property.

Of course, these are guidelines and your specific circumstances may be slightly different. We encourage you to contact us for resources to confirm these deductions and exclusions, or to contact your CPA or tax preparer (or we can refer you one).
What’s hot and What’s not in home design for 2019 (By Elledecor.com):

• In: Softer White wall paint colors Or rich/ bold jewel tones are in for 2019
• Out: Accent walls are losing purpose as bold single colored walls are making a much bigger impact
• In: Wood finishes and plants are a refreshing design trend that we’re seeing in 2019 giving a light, calming feel and tone to a home.
• Out: Cherry cabinets are taking a back seat and paint is replacing it as a way of adding warmth to a kitchen
• In: “The traditional beauty of floral patterns, either abstracted or straight up chintz, will be the pattern to use.” — Erin Gates of Erin Gates Design. Using it in fabrics or wallpaper will add a fresh and bold new look to any room.
• Out: Wallpaper borders are still a thing of the past and likely to remain that way for a while.
• In: Mixed metals such as pewter & gunmetal hardware gives fixtures texture and depth
• Out: All one tone or metal such as brass is out.  The statement “too much of a good thing” is true for 2019 and you’ll want to mix and match your metal accents.
• In: Open Shelving and exposed plumbing are a 2019 trend making a bold statement both in kitchens and bathrooms. Replacing upper cabinets with metal, wood, or glass shelving make a big visual impact.
• Out: Quarts countertops are making their way out in 2019, making room for warmer natural mediums and tones.

The last one that hit home the hardest was that succulents are out.  These lovely plants encouraged me to try and grow something green and alive indoors with very little risk of killing it.  Now that I’ve mastered that skill it’s time to branch out (see what I did there) and try my hand at a few of the other many wonderful houseplants that we neglected in 2018.  Who knows, perhaps 2019 is the year of the spider plant, crossing my fingers I can keep that one alive. - Enid Daniel

Street Art

From Seattle to London, commissioned artists are taking to the streets. The result is aw inspiring, colorful murals that bring life to the mundane.

A couple weeks ago, a friend forwarded me a collection of creative murals and street art from our the world which reminded me of how fun it is to explore cities, local and globally, to see how communities and their artists can turn some of our more mundane urban surfaces into something a bit more fun. While we didn’t have copyrights to print all of them, here are a couple which sparks the imagination. If you have favorites from your travels, please share them with us at photos@reecehomes.com.