With all of the attention on the failing national housing market, many people have lost sight of the fact that Washington State is a unique market place. We have not seen the crash that most other states have. The median priced single family home in Snohomish County has dropped only .92% since last year. Here is why:
1. Washington has an extremely strong economy: unemployment is under 5 percent and according to the Washington State Office of financial management, we are projected to add another two million residents in the next 12 years.
2. Wshington has few subprime loans in danger of foreclosure so, contrary to what is happening in some states, we have fewer "distress sales" and foreclosures.
3. The historic low mortgage rates are tuning the market around. If you are renting, you are not along. There are thousands of people just like you who want to buy a home and are just waiting to see what the market will do. As these people enter the market, supply will go down and the market will heat up.
This is a great time to buy a home in Washington State. Be sure to ask a Washington Realtor, as no one knows Washington Real Estate like a Washington Realtor.
Please contact me for housing information and a special booklet for first time homebuyers. Karen Villa Schweinfurth 425-308-3669; or visit http://www.karensvillas.com
karen@karensvillas.com
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Karen - I am glad your market is stable. Hopefully the purchasers in your market haven't bought into all the media hype about it being a buyers market. The top agents in America like yourself know that the real estate trends are local and not national trends as the media would have everyone think.