Banks are lending money!
Most of you have heard by now about the interest rates dropping.
This means you can buy more house for your money,
Example $300,000 loan for 30 years fixed rate,
$1610.46 payment at 5% interest rate
$1,798.65 payment at 6% interest rate
That reduces your payment by $188.19 a month
Or allow you to spend $35,056.34 more on a home
Click HERE to read about interest rate drops
Friday, December 19, 2008
Tuesday, December 9, 2008
Snohomish County Statistics - November 2008
Snohomish County Statistics are out!
Find out what the market is doing!
As you know I track the current trends and statistics for Snohomish County. In the attached link you will find the most up to date information for;
* Average Dollar per Square Foot
* Average List Price
* Average Sold Price
* Months of inventory
To View What's happening
Find out what the market is doing!
As you know I track the current trends and statistics for Snohomish County. In the attached link you will find the most up to date information for;
* Average Dollar per Square Foot
* Average List Price
* Average Sold Price
* Months of inventory
To View What's happening
Thursday, December 4, 2008
Help May be on it's way for Struggling Homeowners!
Help May Be on it's Way for Struggling Homeowners!
And here we have the Fed's Ben Bernanke recommending specific solutions to the foreclosure problem to help AVOID foreclosures. Read this article and please feel free to comment!http://www.msnbc.msn.com/id/28053280/
And here we have the Fed's Ben Bernanke recommending specific solutions to the foreclosure problem to help AVOID foreclosures. Read this article and please feel free to comment!http://www.msnbc.msn.com/id/28053280/
Monday, November 17, 2008
The Gift of Giving - Helping Others
Helping others is one of the reasons I joined the Windermere team.
Recently we learned of an organization called "Clothes for Kids" that really needs our help with clothing donations. "Clothes for Kids" is not only for kids, it's for Working women, men and teens.
Your generosity can change lives, and the beneficial effects of contributions reverberate long after the initial giving. You can donate Clothing or give a cash donation to Clothes For Kids for your self or in honor of some one you car about.
View the Link to learn more about "Clothes for Kids" http://www.clothesforkids.org/
Recently we learned of an organization called "Clothes for Kids" that really needs our help with clothing donations. "Clothes for Kids" is not only for kids, it's for Working women, men and teens.
Your generosity can change lives, and the beneficial effects of contributions reverberate long after the initial giving. You can donate Clothing or give a cash donation to Clothes For Kids for your self or in honor of some one you car about.
View the Link to learn more about "Clothes for Kids" http://www.clothesforkids.org/
View our Windermere "Clothes for Kids" fundraising event featured on the Marysville Globe Link click HERE
Friday, November 14, 2008
Opportunity Knocks for Home Buyers
There are some terrific opportunitys for home buyers right now. Take a peak at the information below to learn why
$7500 Tax credit for buyers
Congress has enacted a $7,500 federal tax credit for first time home buyers. This is for homes purchased after April 9, 2008 and before July 1st, 2009
Click photo below to view information
Attractive Pricing
If there’s a silver lining to the housing downturn, it’s that homes are more affordable. Like inventory and pricing, interest rates are at favorable levels.
Building Personal Wealth
For most Americans, homeownership is a primary source of net worth and an important step in accumulating personal wealth and assuring financial security.
Click photo to view more information
$7500 Tax credit for buyers
Congress has enacted a $7,500 federal tax credit for first time home buyers. This is for homes purchased after April 9, 2008 and before July 1st, 2009
Click photo below to view information
Attractive Pricing
If there’s a silver lining to the housing downturn, it’s that homes are more affordable. Like inventory and pricing, interest rates are at favorable levels.
Building Personal Wealth
For most Americans, homeownership is a primary source of net worth and an important step in accumulating personal wealth and assuring financial security.
Click photo to view more information
Sunday, November 9, 2008
Snohomish County Market
Buying a home is still
the best long term
investment you can make!
Home prices are up $153,000 in 8 years
the best long term
investment you can make!
Home prices are up $153,000 in 8 years
$350,000 median price of homes 2008
$197,000 median price of homes 2000
Click on the photo below to view it larger.
Average Dollar per sq. ft price up 30% in 5 yrs.
$180 Dollar per sq. ft. price October 2008
$139 Dollar per sq. ft. price 5 years ago.
$180 Dollar per sq. ft. price October 2008
$139 Dollar per sq. ft. price 5 years ago.
Average Sold price is up 33.4% vs. 5 years ago
and down 15.8% vs 14 months ago
and down 15.8% vs 14 months ago
60% fewer sold properties vs. 14 months ago
50% fewer of Pendings vs. 14 months ago
50% fewer of Pendings vs. 14 months ago
140 Days on Market is Cumulative market Time
which = entire length of the listing period.
which = entire length of the listing period.
13.5 months of inventory
5.9 months of inventory 14 months ago
Saturday, November 8, 2008
Real Estate Rebound
Hi,
Here is a great article from Forbes Magazine online. You can view this and other Forbes articles Here
Real Estate Markets Most Likely To Rebound
If you're a homeowner seeing property values plummet, look to the commercial real estate market for solace. It might tell you which areas will recover fastest--and which will likely remain weak.
The Urban Land Institute recently asked 700 real estate professionals to name the best (and worst) places to invest in commercial real estate in the coming year. Those surveyed included private developers, Realtors and Real Estate Investment Trust executives. Their answers also apply to the residential market, since the single-family-home sector typically follows the economy. As wages go up and there are more jobs, more people can buy homes, pushing prices up. The best cities in which to invest are those that are considered gateways to international investment, have vital downtowns where people can forgo cars, and don't have a glut of condos or office space.
In Depth: Best And Worst Places For Real Estate Investors
These traits landed Seattle the No. 1 spot on the list. No city scored above a 6.15 on a scale of one to nine (one being an abysmal place to invest and nine being excellent).
Seattle is "a diversified market, has a good base of business and is becoming a 24-hour city," says Stephen Blank, senior resident fellow, finance, of the Urban Land Institute. "It's going to be in a good position to come back."
Although the city is suffering from the loss of Washington Mutual (nyse: WM - news - people ) and the downsizing of Starbucks (nasdaq: SBUX - news - people ), Boeing (nyse: BA - news - people ) and Microsoft (nasdaq: MSFT - news - people ) are still relatively strong. Apartment vacancies are low and there aren't too many new buildings going up, meaning the market won't be oversupplied. The same is true in the retail space.
San Francisco comes in second with a 6.12. The City by the Bay learned from the tech crash of 2001 not to overbuild. There is a reasonable supply of office and apartment space, which should limit vacancies. San Francisco's port is also expected to help the city during the downturn as Americans continue to rely on Asian imports.
Washington, D.C., New York and Los Angeles round out the top five.
Of course, there's no guarantee that an improved commercial market will lead to an improved home market. However, investors have a better chance of seeing home prices rise in fundamentally strong markets like Seattle than in struggling cities like Detroit.
It landed at the bottom of the list, scoring a 2.24. Detroit has been reliant on the car industry, which is rapidly shrinking. Other businesses are unlikely to fill the void in the next few years, which means the city will be hit hard by further economic struggles.
New Orleans also lands near the bottom with a score of 3.33. The city has been losing businesses to Houston, Dallas and Atlanta since Hurricane Katrina hit in 2005.
The other cities at the bottom of the list-- Columbus, Ohio, Milwaukee, Wis., and Cleveland--suffer from dying industries and lack of tourist appeal.
Recent attempts to turn downtown Milwaukee into a thriving 24-hour city haven't been enough to protect it from the coming downturn. Increasingly picky investors are expected to favor higher-quality port cities over Midwest towns.
And while Columbus has the potential to become a major shipping hub for goods traveling cross-country, that revitalization may have to wait for a stronger economy and a government focused on improving the nation's roads. For now, prospects are dim.
Here is a great article from Forbes Magazine online. You can view this and other Forbes articles Here
Real Estate Markets Most Likely To Rebound
If you're a homeowner seeing property values plummet, look to the commercial real estate market for solace. It might tell you which areas will recover fastest--and which will likely remain weak.
The Urban Land Institute recently asked 700 real estate professionals to name the best (and worst) places to invest in commercial real estate in the coming year. Those surveyed included private developers, Realtors and Real Estate Investment Trust executives. Their answers also apply to the residential market, since the single-family-home sector typically follows the economy. As wages go up and there are more jobs, more people can buy homes, pushing prices up. The best cities in which to invest are those that are considered gateways to international investment, have vital downtowns where people can forgo cars, and don't have a glut of condos or office space.
In Depth: Best And Worst Places For Real Estate Investors
These traits landed Seattle the No. 1 spot on the list. No city scored above a 6.15 on a scale of one to nine (one being an abysmal place to invest and nine being excellent).
Seattle is "a diversified market, has a good base of business and is becoming a 24-hour city," says Stephen Blank, senior resident fellow, finance, of the Urban Land Institute. "It's going to be in a good position to come back."
Although the city is suffering from the loss of Washington Mutual (nyse: WM - news - people ) and the downsizing of Starbucks (nasdaq: SBUX - news - people ), Boeing (nyse: BA - news - people ) and Microsoft (nasdaq: MSFT - news - people ) are still relatively strong. Apartment vacancies are low and there aren't too many new buildings going up, meaning the market won't be oversupplied. The same is true in the retail space.
San Francisco comes in second with a 6.12. The City by the Bay learned from the tech crash of 2001 not to overbuild. There is a reasonable supply of office and apartment space, which should limit vacancies. San Francisco's port is also expected to help the city during the downturn as Americans continue to rely on Asian imports.
Washington, D.C., New York and Los Angeles round out the top five.
Of course, there's no guarantee that an improved commercial market will lead to an improved home market. However, investors have a better chance of seeing home prices rise in fundamentally strong markets like Seattle than in struggling cities like Detroit.
It landed at the bottom of the list, scoring a 2.24. Detroit has been reliant on the car industry, which is rapidly shrinking. Other businesses are unlikely to fill the void in the next few years, which means the city will be hit hard by further economic struggles.
New Orleans also lands near the bottom with a score of 3.33. The city has been losing businesses to Houston, Dallas and Atlanta since Hurricane Katrina hit in 2005.
The other cities at the bottom of the list-- Columbus, Ohio, Milwaukee, Wis., and Cleveland--suffer from dying industries and lack of tourist appeal.
Recent attempts to turn downtown Milwaukee into a thriving 24-hour city haven't been enough to protect it from the coming downturn. Increasingly picky investors are expected to favor higher-quality port cities over Midwest towns.
And while Columbus has the potential to become a major shipping hub for goods traveling cross-country, that revitalization may have to wait for a stronger economy and a government focused on improving the nation's roads. For now, prospects are dim.
Tuesday, November 4, 2008
End Sept Market Review
Buying a home is still
the best long term
investment you can make!
the best long term
investment you can make!
What's Happening in
Through September
Through September
Average Dollar per square foot down 11% from 14 months
ago 
and we are up 29.5% over the past 5 years
and we are up 29.5% over the past 5 yearsAverage For Sale Price is down 3.5% from 14 months ago
We are up 51% compared to 5 years ago
Average Sold Price is down 12.8% from 14 months ago
We are up 35.71% compared to 5 years ago
Currently there are 11.9 months of Inventory
compared to 5.8 months of inventory 11 months ago
email me at connie@windermere.com
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