Sammamish Bank Owned and Short Sale Properties, January 2010

Sammamish Bank Owned and Short Sale Properties, January 2010

First, some numbers to put things into perspective.

Sammamish WA has a population of over 40,000 people according to King County with a little over 3500 housing units.  Currently there are 173 single family residential listings in Sammamish according to Northwest Multiple Listing Service.  Of the 173 current active listings, NWMLS reports 6 homes as Bank Owned and 16 as short sales. 

For more perspective, of the 3500 housing units in the city of Sammamish, 4.94% are currently on the market, 12.72 % of that 4.94 % are short sales or bank owned.  This may be higher than in previous years, but don't be fooled by the media into believing that all properties are distressed.

There are some great deals out there.  The decline in the market has set in and more homeowners are realistic in setting the prices of their homes today than a few months back.  This means that if you are looking for a great deal on a home, don't narrow your focus to only bank owned or short sale properties.  Unless you are strictly a home flipper, find a home you love in a neighborhood you want to live in and make an offer. 

As the Holidays are now behind us and the days start to get longer, I expect the number of homes on the market to increase into the spring.  If interest rates stay low, I expect a brisk turnover of homes as there has been a bit of pent up demand.  If you are a buyer, don't hesitate too long when you find a home you like.  Some other parts of the country are seeing multiple offers and rising prices. 

Are you considering selling in the spring market?  We offer initial market analysis and staging consultation at no charge.  Elsie is an Accredited Staging Professional and has been a major reason for our success.