Washingto Real Estate Market Condition
Nobody Know Washington Real Estate like a Washington REALTOR® (edit/delete)
Know The Facts - The foreclosure rates today are the same as they were 10 years ago. Fewer than one percent of mortgages end in default in Washington state. As of mid-June, sub-prime, adjustable-rate loans represented 20 percent of loans nationally but just 6 percent of home loans in Washington.
You Ask Why - Home appreciation in Washington continues to be strong. Home prices have increased an average of 8% since the same time last year. Interest rates continue to be low. Our home market isn't keeping pace with the growth of the state's population, expected to increase 1.8 percent per year. The state's population will increase by nearly one million over the present decade and reach 6.8 million by 2010 (Washington State Office of Financial Management). The key to stability in real estate is balance - we currently have about a five month supply of standing inventory). Six months is average. We are not in a market where multiple offers pushes a home's value above what the market is going for - we are in a normal market.
The National Association of Realtors is working on FHA reform to modernize its effectiveness.
We are working with our County and City officials to adopt policies that increase housing availability and more importantly, affordability. We are making better use of our land by developing "up", i.e. Everett's downtown core is removating old buildings and/or building new buildings to create multi-use projects to include residential, apartments and retail all in one. The Everett Riverfront Project is one and the new Marina project is another.
As Washington REALTORS® our top priority is building communities that have a strong economy, attractive home choices, great schools and parks, safe neighborhoods and good transportation choices.*Washington Realtors Brochure.
As a Washington REALTOR® I am proud to be working and living in my State and honored to be President of the Snohomish County Camano Association of Realtors. Together we ARE WORKING FOR YOU.
http://www.washingtonmlssearch.net
