Real Estate Information Archive

Here is an interesting read about the West Coast market conditions.  We have the worst economic climate since the Great Depression; however, predictions are we have hit the bottom. It will take three to four years to absorb the current inventory before we see prices rise. Click here to read.

State Labor economish Donna Thompson needed only a few words Tuesday to describe Snohomish County's economy in 2007. "We're smokin," she said of an unemployment report that showed employers in the county created 22,500 jobs last year.

Surprisingly, the amount was nearly equal to that of King County, the state's major job center, which added 23,400 jobs in 2007.

Thompson said the county's annual growth rate was 9.2 percent, more than four times the state average of 2 percent.  The state created 77,700 jobs during the past 12 months.  Snohomish County's contribution was nearly 29 percentof that total.

And our major contributor, Boeing. It's all due to the "787". Boeing and other aerospace firms in the county added 5,100 workers during 2007.

"We are attracting population and our labor force is growing.  We are very fortunate to be in an area with a lot of high-paying manufacturing jobs" Thompson quoted.

Snohomish County's population count for April 20076 was 686,300.  We are expected to reach around the 1,000,000 mark by 2020.

And you ask "why are people relocating here"? Here's your answer:

Snohomish County is located on Puget Sound, between Skagit County to the north and King County (and Seattle) to the south. Covering 2,090 square miles, it is the 13th largest county in total land area in Washington.

Snohomish County's varied topography ranges from saltwater beaches, rolling hills and rich river bottom farmlands in the west to dense forest and alpine wilderness in the mountainous east. Glacier Peak, at 10,541 feet, is the highest point in Snohomish County and one of the highest in Washington State. Sixty-eight percent of the county land area is forest land, 18% is rural, 9% is urban/city and 5% is agricultural.

Snohomish County enjoys a moderate year-round climate, with average  temperatures ranging from about 75°F in July to about 33°F in January. The Olympic Mountains to the west, across Puget Sound, shelter the area from excessive precipitation coming off the Pacific Ocean.

However, that's our little secret - we aren't going to tell anyone about our little private corner of the world - now are we?  That "proverb" came from years ago when Washington was just "a spec on the map" and the native Washingtonians didn't want anyone else moving into the State.  The ploy was to tell all the people interested in moving here - "oh, it rains all the time here, it's miserable, you don't want to move here".

Well I relocated here in 1983 and that was the song. Then Californians started moving North because of our moderate year round climate, access to water and mountains, low population numbers and very affordable housing...........the rest is history.

Looking for housing in Snohomish County, please check: www.karensvillas.com for all your real estate needs.

Snohomish County Market Stats - December 2007

December brought few surprises in housing activity around Western Washington, with above-normal precipitation and floods contributing to the expected seasonal slowdown, according to officials from Northwest Multiple Listing Service.

As December came to  its soggy close (marked by a month with 25 days of precipitation for Seattle), brokers had an optimistic outlook, citing pent-up demand, positive job growth, stable prices, brisk activity at open houses, and other indications of an improving market.

Brokers reported 3,950 pending sales (offers made and accepted but not yet closed) system-wide during December, lagging November's total of 5,194 transactions.  When compared to the same month a year ago, the number of pending sales dropped by about 31 percent (5,744 versus 3,950).

Prices overall were comparable to twelve months ago, with 13 of the 19 counties in the MLS market area reporting increases (including seven counties with double-digit gains).  During the month, there were 4,634 closed sales of single family homes and condominiums with an area-wide median selling price of $313,325. That's down slightly (0.53 percent) from the year-ago median sales price of $315,000.

Comparing counties in the Northwest MLS market area, the median sales price ranged from a low of $146,500 in Grant County to a high of $594,500 in San Juan County.  For the four-county Puget Sound region, the median sales price for last month's closed sales of single family homes and condominiums was $342,000.

For single family homes (excluding condominiums), prices slipped less than a percentage point, from the year-ago figure of $330,000 to last month's price of $326,950 (down 0.92 percent).  In King County, the median sales price of $435,000 matched November.

For 2007, the median price for all homes and condos sold and closed by members of Northwest MLS was $325,000, a gain of 5.8 percent compared to closed sales for 2006.

Condominium prices continued trending upward, registering a 5.4 percent increase from year-ago figures. Area-wide, last month's condos had a median sales price of $252,900, which compares to a year-ago figure of $240,000.  In King County, which accounted for 65 percent of the volume, the median sales price for December's closed sales of condominiums was $290,000, up more than 7.4 percent from a year ago when the median price was $269,950.

MLS members added 5,543 new listings to the inventory during December, slightly more than a year ago when they added 5,357 new listings.  With those additions, the number of active listings of single family homes and condos at month end totaled 38,440.  That's down from November's inventory of 44,399 active listings, but up almost 36 percent from a year ago when there were 28,307 residences offered for sale.

For the first week of January, the 30-year fixed rate mortgage rate was 6.14 percent, according to the Bankrate.com national survey of large lenders. One year ago, the mortgage index was 6.24 percent.  

"Given the positive job growth, strong regional economic outlook and the fact that buildable land is still scarce, the return of a reasonably hot market is likely, making this an optimum time to buy," said Ron Sparks, a vice president at Coldwell Banker Bain in Bellevue. 

It's a great time to buy - listen to our radio ad that my local Board of Realtors put together:

http://www.sccar.com/mp3/war_ad_3.mp3

All real estate is local - so get on the 2008 bandwagon and make this YOUR year for investments.

Email me to get information on Whidbey Waterfront property I listed at Greenbank - $459,000 (contract terms available); live in the 1995 mobile or build to suit. Medium bank - partial access to beach, short walk to community beach. See the virtual tour.

http://www.karensvillas.com/property.asp?id_property=90333

Or if you prefer,  just listed  Penthouse One Floor Condominium with secure entrance, elevator and secure garage parking- Lynnwood location - $335,000 - 1600 sq. ft..  All new interior, self-managed complex, oversized deck and tons of storage.  This one is a beauty.  http://www.karensvillas.com/property.asp?id_property=88799 - be sure to look at the virtual tour!

Perhaps you have a friend or family member that may be interested in either one of these properties.

To get the latest information on Snohomish County WA real estate, please call me at 425-308-3669 or visit KarensVillas.com.  To receive a complimentary home value analysis, please visit WashingtonHomeValues.net.