Olympia and Thurston County Washington
Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from national market statistics to greater Olympia area home value trends and Thurston County happenings. That’s because we care about the community we serve and want to help you find your place in it. Please reach out if you have any questions at all or have a question or situation we can bring clarity to, and maybe it will end up being an article to help everyone!

Search our blog for helpful videos and articles.

May 15, 2024

MVP eNews May 2024

Owning a home is a hallmark of the American Dream as well as one of the best ways to build wealth. In fact, the average homeowner has 40x the net worth of renters and $299,000 in equity.  Many younger generations, however, feel this is a dream out of reach. But what if there was a way you could help those in your family get on the ladder to homeownership? By tapping into your equity and offering them a gift, loan, lease or trust to buy their own home can help them start creating their own generational wealth and a brighter future. 

Featured Property
3372 Simmons Mill Ct SW #B, Tumwater

Check out this new duplex-condo listing in Tumwater! HOA includes yard maintenance and earthquake insurance. Three large bedrooms, 2.5 bathrooms, laundry room, gorgeous updated kitchen with Corian counters and stainless steel appliances. Best part? It's only $375,000! Check out all the details by clicking here.

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April 15, 2024

MVP eNews April 2024

This month, I’m providing some tips on how you can boost your curb appeal this spring. You may find that these simple actions will help you not only reduce your stress and overwhelm, but it may also help create positive relationships with your neighbors.

NAR Class Action Settlement

You may have heard or gotten a postcard about the National Association of Realtors (NAR) class action lawsuit being settled. And it's true - you may be eligible to receive money if you fall into an eligible party.

We want to make a couple things clear: First, by participating you are in no way harming MVP. Second, MVP has always followed strict protocols to provide consumers with complete clarity on the Laws of our State, our business relationship with our clients, and the financial aspects of their real estate transactions. If you have any questions about this settlement, give us a call! Our aim is, and always has been, to make sure you are as informed as possible. 

Featured Property

With new floors and fresh paint, our latest listing retains some unique original features: a wood fireplace with indoor grill on the backside of the chimney, walk-in shower and tub in the hall bath, quaint courtyard walkway out front, custom built-in shelves and cupboards, walk-in attic storage. Click here to check out all the details on this tri-level home on our site!

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March 15, 2024

MVP eNews March 2024

COVID changed our view of the home forever, becoming the central point of every aspect of our lives. If you're needing more space, good news - You have choices! Below are some insights into the typical expenses associated with five common home renovation projects. While these figures offer a general idea, keep in mind that the actual costs can fluctuate based on factors such as the project's scope and your location.

VA CLINIC BANQUET FUNDRAISER

MVP is a proud supporter in the upcoming Steven A. Cohen Military Family Clinic at Valley Cities 5th Anniversary Banquet Fundraiser! Join them on Friday, April 19 at 5:00pm to celebrate at Eagle's Pride Golf Course & Simulator in DuPont. We stand firmly behind this clinic and their mission to help our military community. As they write, "Military families deserve mental health support and your help will sustain and advance the Cohen Clinic at Valley Cities now and into the future." Come to enjoy dinner provided by Tin Hut BBQ and win raffle prizes to boot! Click here to check out more on their website.

FEATURED PROPERTY

If you know anyone who's looking for more space, here's their chance! Our new listing at 15849 Case Rd SW in Rochester has plenty of room: 4 bed (with a fifth bonus w/ closet!), 2.5 bath, 3132sqft on four acres. Did I mention the 2400sqft shop that has its own bathroom? Check out more details on our site and pass along the word!

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Feb. 15, 2024

MVP eNews February 2024

What's the #1 reason people are moving this year?

Pent-up housing demand is being created not just by declining mortgage rates, but also through milestones in people's lives (retirement, newborns, marriages, etc.). Every day people are buying and selling homes, with many making the choice to move closer to family. And with the predicted 3 million marriage, 7 million births, and 7 million people turning 65 over the next two years, more buyers and sellers are on their way.


If you know someone who might be looking to take advantage of declining rates to be closer to family, let us know! We're ready to be of service. 

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Jan. 15, 2024

MVP eNews January 2024

Here's a quick 1 minute update on the US Housing Market. You may be surprised to find out what's been going on...

Interest rates have always fluctuated, but on average have hovered in the 5-10% range for the past three decades. And industry experts believe rates will potentially fall to the low 6 percent range by the end of 2024. I hope this helps bring some perspective on the current conditions. If you have more questions or would like to talk about how this could be effecting you, reach out! Email Matthew@MVPRealtyGroup.com or call/text (360) 915-9123. I'm more than happy to help you, your family, and your friends understand what's going on. 

 

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Dec. 15, 2023

MVP eNews December 2023

For our annual Food Drive this year, we were able to send several bags of food and $5,500 with your contributions and MVP matching them! Thank you! The Thurston County Food Bank recently celebrated 51 years of continuous service. They sent us a progress report on all they've been able to accomplish this year, which highlights perfectly why MVP continues to support them! 

"As you can imagine the need to help our neighbors who struggle continues to grow. This past year one in five people (almost 61,500) in Thurston County and surrounding areas received services from the Food Bank. This included youth under the age of 18 (42%) and seniors 60 or older (21%). Donations like yours allowed us to distribute 5.5 million pounds of wholesome food!"


Alyssa and Peter Knudtson, long-time clients here at MVP, have inspired their community to come together to create art along the blank fence lines in their neighborhood; they call their initiative the OlyPlywood Project. They were recently featured in an article on Thurston Talk, detailing their endeavor and how it's brought their community closer together. Click here to read the article in full on their enterprise.

Are you up to something in your area of town? We'd love to hear about it! Drop us a line at Matthew@MVPRealtyGroup.com


Our sister company, MVP Property Pros, has been managing rental properties since 2010 and has an immediate opening for a full-time Maintenance Coordinator / Tech. Check it out at www.MVPPRopertyPros.com. And if you know someone who needs help with their rental property, we are never too busy for your referrals!

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Nov. 16, 2023

MVP eNews November 2023

Thank you to everyone who participated in the Fall Photo Contest! Our judges had some tough choices with all the gorgeous photos that were supplied.

The grand prize winner is Andrea Baker's adorably festive pup! Runner-up is Kayla Schwartz's beautifully adorned front porch. We did have an honorable mention from Michael Eekhoff - nature's decoration in the mountains. 

In the Kid's Contest, we were incredibly impressed with Ms. Olivia's entry. She elected to create her own drawing that has a wonderful open-closed effect! She is looking forward to soon being the proud owner of the World's Largest Gummy Bear. 

Scroll down to see all our winners! Thank you to all who participated! Keep your eyes peeled for the next opportunity to win fabulous prizes. 

Winter Is Coming... Pro House Tip

While we may not get that beautiful layer of white snow to stick through the season, here in the Northwest, we're still subjected to freezing temperatures that can wreak havoc on our homes. One quick way to protect your plumbing is to remove outdoor hoses and install an inexpensive hose bib cover. This helps prevent your plumbing from splitting inside your walls and causing all sorts of damage. Pick up a cover in the plumbing section of your local hardware store for only a few dollars and potentially save yourself thousands!

Small Business Saturday - November 25

This year, Small Business Saturday is on Nov. 25. A strong small business community helps to create a dynamic and thriving healthy overall community. Here are some creative and fun ways on how you can support your local small businesses this holiday season. 

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Posted in Community, MVP Events
Oct. 13, 2023

MVP eNews October 2023

Our Autumn Photo Contest is here! And looking a little different from years past, so you'll want to check out just how easy it is to enter and win this year. Cash prizes for the photo winners and some fantastical prizes for our kids' coloring contest, too. Click here to get the details. We just can't wait to see all the entries!

Less Is More

If you have "good" things you never used because you didn't want to ruin them, now is the time to enjoy them! On the other hand, if you were holding onto things you didn't love but felt guilty not using, part with them now and turn to a new chapter with something you'll actually use. Whether you're downsizing for yourself or a loved one due to a move or just decluttering, going through a home can bring up many emotions. Follow these tips to make the process go as smoothly as possible. 

  1. Only use a storage unit if absolutely necessary. It's all too easy to store items you will never use again, or worse, will have to move in the future. It's also an additional expense you will keep incurring. 
  2. Follow the rule, "Everything must have a place." This takes time, but plotting out what goes where will save you time, money, and heartache. (And no, a junk drawer doesn't count in this rule of thumb.)
  3. Regarding major appliances or furniture, ask yourself, "Does it make sense to buy a new one?" Maybe you've been having to call a repair tech more frequently, or maybe yours works just fine and you're lingering a little too long in the appliance section at Home Depot. Either way, taking stock of your situation as it stands is a good idea. 
  4. Recruit an impartial friend to help you make objective, practical decisions about what to keep, donate, or toss. 

Market Stats

For the first time in what seems like forever, our year over year median price trend in Thurston County is showing no change. Nothing to be alarmed about as we come into the Fall. Experts continue to tell us we're not going toward a recession anytime soon and we are still seeing pricing trending upward, just at a snail's crawl (normal) compared to the Superman leaps that were happening in Spring 2022 (unusual). Now, what the housing market is doing at this very second really matters the most if you're hoping to Buyer or Sell right now. If that's you, reach out to us today! We want to make sure you're educated in today's shifting market. Reply to this email or call/text (360) 915-9123.

Bonus: Do Sellers Have to Disclose if their House is Haunted?

The answer is YES - but not in Washington. The State of New York actually requires home sellers to disclose if they believe their home is haunted.  It is known as "the Ghostbuster Ruling," which is frequently discussed in property law classes, mentioned in textbooks and cited by other courts.  I guess it makes sense, since 41% of Americans believe in ghosts according to a YouGov survey! (Thanks to our associate, Kale Dunning of Windermere in Vancouver, WA for this fun fact)

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Oct. 5, 2023

The Return of Normal Seasonality for Home Price Appreciation



If you’re thinking of making a move, one of the biggest questions you have right now is probably: what’s happening with home prices? Despite what you may be hearing in the news, nationally, home prices aren’t falling. It’s just that price growth is beginning to normalize. Here’s the context you need to really understand that trend.

In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the cooler months approach. Home prices follow along with seasonality because prices appreciate most when something is in high demand.

That’s why there’s a reliable long-term home price trend. The graph below uses data from Case-Shiller to show typical monthly home price movement from 1973 through 2022 (not adjusted, so you can see the seasonality):

As the data shows, at the beginning of the year, home prices grow, but not as much as they do in the spring and summer markets. That’s because the market is less active in January and February since fewer people move in the cooler months. As the market transitions into the peak homebuying season in the spring, activity ramps up, and home prices go up a lot more in response. Then, as fall and winter approach, activity eases again. Price growth slows, but still typically appreciates.

After several unusual ‘unicorn’ years, today’s higher mortgage rates helped usher in the first signs of the return of seasonality. As Selma Hepp, Chief Economist at CoreLogic, explains:

High mortgage rates have slowed additional price surges, with monthly increases returning to regular seasonal averages. In other words, home prices are still growing but are in line with historic seasonal expectations.”

Why This Is So Important to Understand

In the coming months, you’re going to see the media talk more about home prices. In their coverage, you’ll likely see industry terms like these:

  • Appreciation: when prices increase.
  • Deceleration of appreciation: when prices continue to appreciate, but at a slower or more moderate pace.
  • Depreciation: when prices decrease.

Don’t let the terminology confuse you or let any misleading headlines cause any unnecessary fear. The rapid pace of home price growth the market saw in recent years was unsustainable. It had to slow down at some point and that’s what we’re starting to see – deceleration of appreciation, not depreciation. 

Remember, it’s normal to see home price growth slow down as the year goes on. And that definitely doesn’t mean home prices are falling. They’re just rising at a more moderate pace.

Bottom Line

While the headlines are generating fear and confusion on what’s happening with home prices, the truth is simple. Home price appreciation is returning to normal seasonality. If you have questions about what’s happening with prices in our local area, let’s connect.

Posted in Market Updates
Aug. 16, 2023

eNews August 2023

Cabinets - Replace or Reface?

We're here for you, even after you buy your home! Whether you're purchasing for an investment or for personal use, the whole MVP Team has your back. Our sister company, MVP Property Pros, comes fully equipped for both property management and general contracting. Take our latest blog post from owner, Matthew Plummer, for instance, about a quick kitchen facelift. Click here to read the whole article. If you have any questions about a home improvement, maintenance, or renovation, or need referrals to quality tradespeople, MVP is here to help! 


Travel Tips to Stay Healthy

Whether you're dropping your kids off at college, squeezing out every opportunity to get sunshine before it's gone, or just planning ahead for the holidays, staying healthy is key to enjoy as much of your time as you can. Here are some smart strategies for healthy traveling along the way. 

Flying? Walk around the terminal to support circulation while you wait. Use an eye mask and sound machine to help get a better night's rest while you're in an unfamiliar sleeping environment. Pack healthy snacks and water instead of panic buying the closest candy bar and soda. Check out the whole list on the graphic below.


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