Data from February of this year shows a subtle increase in the housing market. This is mainly because a lesser number of homes were put up on the market raging a bidding war amongst those looking for homes in Seattle. A slight drop in mortgage rates also pushed this trend upwards as prices of median homes in Seattle increased. Experts at TOV Restoration believe that many buyers jumped into the market thinking that there will be a further decrease in the mortgage rates by the end of 2024. As a result, median home prices rose by 8% in King County, while some other significant counties also registered a slight increase in home prices. In the southwestern region of King County, encompassing areas like Burien and Federal Way, there was a significant surge in single-family home prices, marking a 16% rise compared to the preceding year. In Seattle, the median price for single-family homes soared to $927,000, reflecting a 12% uptick, with condominium prices also experiencing an upward trend.

Small apartments are on a roll, thanks to the latest legislation by Washington State's lawmakers. They are aiming to make housing more affordable for low-income dwellers of the state. These apartments are generally under 200 square feet with large sleeping areas and small bathrooms and washrooms. Lawmakers want to make it easier to build small apartments with shared spaces in cities because houses are too expensive and there aren't enough of them. They passed a bill in the Washington state Senate to make cities change their rules and allow more of these compact living arrangements. The goal is to create more affordable housing in places where there's not much room and prices are high. These apartments which are also known as micro-apartments or SROs (Single Room Occupancy); have a private sleeping area along with 01 bathroom and a joint kitchen with the living room. The usual rent for these apartments in Seattle starts from 1000$, which is on average 500$ less than the traditional studio apartment in Emerald City. This makes them more lucrative to the common folk with low-income averages. 

AI has come storming into the lives of every human (and even animals) in the world. It is changing how we do and perceive things. Similarly, AI is shaping up to be a monster in the construction, renovation, and home enhancement industry. Therefore, if as a homeowner, you are looking for an upgrade in your home, remember that AI will not only make your life easy but increase property value as you will be the ones who get on the bandwagon at the earliest. The press release structured by professionals at TOV Restoration hits upon some of the major AI advantages that you can take during home enhancement in 2024 and beyond. Integrated Home Security Solutions People who own homes in Seattle are making safety a top priority. More and more, they're choosing security systems that have smart cameras, doorbell cameras, and motion sensors. With these systems, homeowners can keep an eye on their homes from afar, feeling more at ease and making it less likely for unwanted visitors to come in. A smart home security system also increases the value of the home. Climate Control Heating, ventilation, and air conditioning have been an old concept but linking them with automated systems along with AI allows a homeowner to save more on utility bills. With automated HVAC systems, the home environment is kept to a desired level for the exact desired time providing a quality environment on a budget. This may look like a big investment, but it pays off with better quality of life and increased home value later.

With inflation increasing every month and mortgage rates soaring, buying a house in 2024 may not be a feasible option. However, if you are bored of your current house, you can go for a complete makeover in 2024. The neighborhood might not change but your living style statement can. Experts at TOV Restoration look out for some of the strategies that can be adopted in 2024 to ease out the financial burden of a home renovation. Research, Research and Research Financial matters are a tricky equation especially when they are related to construction, renovation, and home makeover. This is where extensive research comes into play when finances are at stake. From finding out the best contractor to the best cost-effective material coupled with the best financial options, research allows you to save time, money, and additional hassle; all at the same time. Unlocking Home Equity Home equity is another way of using your current home to finance your renovation dreams. The property value, just like inflation and mortgage is on the rise. Therefore, part value can be used to leverage home equity for example home equity loan or line of credit. Such a strategy allows you to invest in your own living space increasing quality of life as well as property value.