Has The Market Bottomed Out in Snohomish County?
by
on July 25, 2010
in Area Information, Arlington, Bothell, Clearview, Darington, Edmonds, Everett, Featured, Granite Falls, Lake Stevens, Lynnwood, Maltby, Marysville, Millcreek, Monroe, Mukilteo, Stanwood, Woodinville
Summertime is here in fine fashion. We are experiencing picture perfect weather here in the beautiful Pacific Northwest.
We have also been experiencing some of the lowest mortgage rates since records have been kept as well as incredible prices and inventory. This is a recipe for a GREAT buyers market.
Sellers, on the other hand, have been experiencing one of the biggest market corrections in decades. According to Zillow, there are currently 1186 properties on the market in Snohomish County that are listed as foreclosures.
The good news is that as of the beginning of July, only 23.5% of properties sold for a loss, meaning over 76% sold for a gain. From Zillow’s stat’s, up 1.7% from this time last year. These stat’s are for single family homes in Snohomish County and the stat’s are taken from Zillow.
I believe that the county in general has bottomed out. There are pockets that are still seeing falling values but many areas have stabilized or are gaining value.
So buyers, take notice. You may not find a more favorable environment for buying again like this for a long, long time.
Let me know if you need anything real estate.
2 Responses to “Has The Market Bottomed Out in Snohomish County?”
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January 8, 2011
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Snohomish County Real Estate Statistics for March 2010
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Has The Market Bottomed Out in Snohomish County?
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As for your “buyers take notice”, Absolutely! Prices are now where they were 5 years ago, before the “endless blue sky”, where price increases seemed to have no limit. For those of you that had better sense not to buy or simply could not afford to, this market is the perfect recipe for ownership. Mortgage rates dropping two weeks ago has allowed my first time home buyer to purchase in an area boarding King & Snohomish County.