Inventory levels for Residential and Condominiums combined in Snohomish County are well below this time in 2010 & 2011, below are the Numbers.
10/1/12: Total units for sale was 2151
10/10/11: Total units for sale was 4169
10/5/10: Total units for sale was 5835
Bank of America is offering upto $30,000 to homeowners who short sale their property instead of being foreclosed on in an article reported by CNN Money.
The Seattle Times a week ago writes a story on how Seattle area homes prices continue to fall in February, a week later, they have miracously changed their tune and now prices are rising…Really? All this in a week? What will they say next week? Below are both articles.
An article posted by MSN real estate shows the top 1o major housing markets with the shortest supply of homes available for sale. #3 on the list is the Seattle-Bellevue-Everett area. With low inventory levels, houses are getting multiple offers and in some cases going for above asking price. Can you afford to wait?
A recent report by Clear Capital found that in the top 15 Metro areas REO’s(Foreclosed Properties) increased in February, however those areas showed average gains or stable home prices compared to the previous month which is a good sign, however is unusual. REO’s typically will put downward pressure on home prices causing depreciation.
Open houses being held this weekend at the following properties:
**Saturday February 18, 2012 12-3pm**
2118 N 145th St. Shoreline
Offered at $249,500
3 bedrooms/1 bath/1390sf/Hardwoods, new kitchen counters, stainless appliances/cul de sac access
**Sunday February 19, 2012 1-4pm**
1208 8th Ave N. Edmonds
Offered at $638,500
4 bedrooms/2 baths/2388sf/.56 acre
Many buyers and sellers have questions regarding title, that sometimes the title office can answer best. These can be regarding different deeds depending on the type of sale or recording taking place. In addition, questions about liens or ID affidavits(usually associated with more common names, IE. John Smith). Attached is a link that can hopefully provide answers to some of those questions you have.
FHA(Federal Housing Authority) typically does not insure a mortgage on a property if the seller hasowned the property for less than 90 days. However, they waived this rule in 2010, extended into 2011, and now have re-extended until the end of 2012. The hope is for this to allow these homes to sell as fast as possible and helping to stabilize prices in neighborhoods with high foreclosure activity.
Since FHA allowed this program to occur in February 2010, FHA has insured nearly 42,000 mortgages.
Article from DCS News.
Open house scheduled for this coming Sunday January 15th 1-4pm. 3 bedroom rambler, updated, good sized lot.
Private sector job growth has moved the unemployment rate for Washington state to 8.7%, down from 9.1% in October. Professional and business services added 4,200 jobs, Leisure and hospitality added 3,800 and construction added 2,000. This drop follows the U.S. trend of 8.6% Unemployment rate.
Some critics may argue that with the Holiday season that these numbers are skewed or misleading, in any event adding jobs is a good thing. Lets say some of these are seasonal hires, many times those “seasonal hires” will turn into full time jobs.
Information provided by the Associated Press.