The UPI is reporting today that the Lake Stevens area outside of Everett is one of the top ten areas in the country when comparing the list price of a home to the actual selling price. Not a bad thing for sellers in the area!
The question that my researcher had for me was ‘why?’. The answer is partly because people are still buying homes in the Seattle area, and second is the availability of 0% down payment home loans. What? You thought those had all died out? Nope, two still exist! The USDA Rural Home Loan and of course VA loans. Both obviously come with their own set of conditions and restrictions.
It is my professional opinion that people are willing to pay a premium for homes in the Lake Stevens area because they qualify for no down payment home loans. Additionally, there are many new home developments in that area that qualify for the USDA loans. This means that buyers can get into a home with very little money AND don’t have to deal with the head aches and delays associated with buying a home going through a short sale.
If you take those two factors into consideration, it is no surprise that the Lake Stevens area is getting a lot of interest lately! If you are looking for a home in an area that might qualify for the USDA 0% down payment home loan and have questions or need help finding a property that qualifies, give me a call at 425-773-3149. I have helped several clients find great homes that qualified for zero down loans and I can help you too!