Happy Friday!

The Bender Buzz is bringing you some cool updates for our area this week!

Th Sound Transit is changing things up in Lynnwood and WA has passed some new traffic camera laws to improve safety!

We are also taking a look at some predictions for the real estate market in 2024.

— Lisa

🚆 Sound Transit to Boost Initial Lynnwood Link Frequencies

Driving the news: Sound Transit has unveiled a plan to improve initial service frequencies on the Lynnwood Link Extension when it opens later this year.

The agency will store additional light rail vehicles (LRVs) at elevated stations overnight, allowing for better peak-hour service levels compared to projections made last fall.

Details: The improved service will be made possible by storing an extra 36 LRVs at three stations and the Operations and Maintenance Facility Central (OMF-C).

With these additional vehicles, Sound Transit will offer service every eight minutes during weekday peak hours using four-car trains, instead of the previously projected ten-minute frequencies with some three-car trains.

Why it matters: The higher operating frequencies and increased capacity will help alleviate crowding issues on trains, especially during peak hours.

Last fall, the agency had warned of severe crowding that could have left some riders at platforms in Seattle during peak weekday hours.

The big picture: The near-term train shortage stems from the delayed opening of the East Link across Lake Washington, which will connect the 2 Line into the network in 2025.

Until then, Sound Transit is stretching OMF-C's design capacity by about 35% to accommodate the additional vehicles.

Between the lines: While the plan offers good news for riders, there will be some near-term pain.

Service reductions and potential impacts like variability in train lengths, longer recovery periods after disruptions, and less frequent vehicle cleaning may occur as the agency prioritizes safety-related maintenance.

What's next: Sound Transit will implement service reductions starting late this month and continue with its interim ST Express bus augmentation strategy to support the Lynnwood Link Extension opening.

The full 2 Line is expected to open in late 2025, with corrective work on defective plinths progressing on schedule.

The bottom line: Despite the challenges, Sound Transit's plan to boost initial Lynnwood Link frequencies is a positive development for riders.

🚦 Washington Traffic Camera Laws Get a Significant Overhaul

Driving the news: Washington State Legislature has approved House Bill 2384, expanding the use of traffic enforcement cameras, including for bus lanes, and changing financial and operational guidelines for their use.

Details: The bill amends the 2022 Move Ahead Washington transportation package, allowing more flexibility for camera placement and modifying revenue allocations and penalty caps.

In Seattle, over 70% of drivers were found speeding in active school zones, highlighting the need for enhanced enforcement.

New fines are capped at $145, doubling for school zone violations.

The bill also allows non-sworn officers to review traffic tickets, addressing police staffing shortages and potentially changing enforcement dynamics.

Why it matters: This legislation aims to enhance roadway safety and transit mobility by leveraging technology to enforce traffic laws more effectively and ensure smoother public transportation.

The big picture: The changes are part of a broader effort to improve traffic safety and efficiency in Washington, building on previous laws that expanded camera enforcement areas.

What’s next: Governor Jay Inslee is expected to sign the bill, with its provisions taking effect 90 days post-legislative session.

Local jurisdictions will then decide on camera implementation, focusing on equitable and effective enforcement.

The bottom line: HB 2384 represents a significant shift in Washington’s traffic law enforcement, aiming to improve safety and efficiency on the roads, with local governments playing a crucial role in its success.

📈 100+ Housing Experts See Increased Home Price Growth and 6% Mortgage Rates in 2024

Driving the news: Driving the news: Over 100 housing experts predict a rise in home prices and foresee a median 6% mortgage rate by the end of 2024, as per the Q1 2024 Fannie Mae Home Price Expectations Survey

Details: The survey, in partnership with Pulsenomics, LLC, involved 114 experts who anticipate home price growth of 3.8% in 2024, an increase from previous projections.

These expectations align with a predicted decline in mortgage rates to 6%.

Why it matters: The revised home price growth forecasts highlight the market's resilience amid fluctuating mortgage rates and ongoing housing supply shortages.

The big picture: Economic factors like mortgage rates and housing inventory play pivotal roles in shaping the real estate market's trajectory.

By the numbers: The survey shows an upward revision in home price growth from 2.4% to 3.8% for 2024 and a significant shift in experts seeing higher upside risks to their forecasts.

Between the lines: The experts' outlook hinges on both the anticipated easing of mortgage rates and persistent supply constraints, fueling price growth.

What’s next: With mortgage rates expected to stabilize around 6%, the market may witness sustained home price increases, although affordability issues remain a concern.

The bottom line: The housing market is poised for continued growth, but the balance of mortgage rates and supply challenges will dictate the pace and scale of changes.

📊 Our Current Local Market Data

The real estate market in Snohomish County, WA is heating up as we get close to spring.

If you want to buy a home in this market, you’ll need a solid strategy for searching and making strong offers. Your home search could take a while, but you’ll have to move quickly when you find a home you like.

I’m staying on top of the market daily and there are even financing options that can help you purchase at a lower rate.

If you ever have questions, don’t hesitate to ask.

📰 In Other News…

• WA lawmaker questions validity of Seattle’s housing plan

• Snohomish County Department of Conservation & Natural Resources Receives $6 Million in Congressional Funding

• Dual language education is one step closer to becoming a WA law

That’s all for today, I hope you have an amazing week!

If there’s ever anything you need:

➡️ a custom market or home value report

➡️ a home services list for a reliable contractor or services professional

➡️ feedback or a professional opinion on a home project

Just let me know! I’m here to help with all your home needs.

Talk soon,

Lisa Bender

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