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Interest Rates and Your Bottom Line
Wow, just wow! The interest rate levels that we have experienced in 2016 are seriously unbelievable. Currently we are hanging around 3.5% for a 30-year fixed conventional mortgage, almost a half a point down from a year ago. This is meaningful because the rule of thumb is that for every one-point increase in interest rate a buyer loses ten percent in buyer power. For example, if a buyer is shopping for a $500,000 home and the rate increases by a point during their search, in order to keep the same monthly payment the buyer would need to decrease their purchase price to $450,000. Conversely, for every decrease in interest rate, a buyer can increase their purchase price and keep the same monthly mortgage payment.
Why is this important to pay attention to? Affordability! If you take the scenario I just described and apply it to the graph on the right, you can see that the folks who jumped into the market this year enjoyed an interest cost savings when securing their mortgage. This cost savings is doubly important because we are in a price appreciating market. In fact, the median price in King County has increased by 13% complete year-over-year and 10% in Snohomish County. Interest rates are helping to keep payments more manageable in our appreciating market. Most recently we have started to see a slight increase in inventory compared to the spring/summer market, which is a plus for buyers and something to be taken advantage of.
Will these rates last forever? Simply put, no! The graph above provided by Freddie Mac shows a prediction for rates to start rising. While still staying well below the 30-year average of 7.65%, increases are increases, and securing these rates could be downright historical. Just like the 1980’s when folks were securing mortgages at 18%, the people that lock down on a rate from today will be telling these stories to their grandchildren. Another factor to consider is that it is an election year, and rates historically remain level during these times. What 2017 and beyond hold for rates will likely not mirror these historical lows under 4%. Note the 30-year average – one must think that rates closer to that must be in our future at some point.
So what does this mean for you? If you have considered making a move, or even your first purchase, today’s rates are a huge plus in helping make that transition more affordable. If you are a seller, bear in mind that today’s interest rate market is creating strong buyer demand, providing a healthy buyer pool for your home. As a homeowner who has no intention to make a move, now might be the time to consider a refinance. What is so exciting about these refinances, is that it is not only possible to reduce your monthly payment, but also your term, depending on which rate you would be coming down from.
If you would like additional information on how today’s historical interest rates pertain to your housing goals, please contact any of our agents. We would be happy to educate you on homes that are available, do a market analysis on your current home, and/or put you in touch with a reputable mortgage professional to help you crunch numbers. Real estate success is rooted in being accurately informed, and it is our goal to help empower you to make sound decisions for you and your family.
What is the State of the Condominium Market in the Greater Seattle Area?
We often speak about the Single Family Residential (SFR) market, but we thought it would be interesting to take a deep dive into the Condominium (condo) market in the Greater Seattle area. Condos can provide a more affordable option and have grown in popularity as SFR home prices have gone up.
Much like the SFR market the condo market has been inventory starved. In fact, condo inventory is down 31% in both King and Snohomish Counties complete year-over-year. While inventory has shrunk sales have increased! In King County, sales are up 14% over the last twelve months compared to the previous twelve months, and up 23% in Snohomish County. These figures indicate quite a bit of demand for this product. The good news is new listings are slighting increasing, with 3% more new listings in King County and 7% in Snohomish County. This increase in new listings is due to some new construction, condo development, and more and more re-sale owners regaining their equity position and making moves.
Prices are on the rise too! An important aspect to measure in regards to condos is price per square foot, and in King County the price per sq. ft. is up 20% complete year-over-year and up 12% in Snohomish County, which is a big jump. The average cost per square foot in King County in July 2016 was $413 per square foot, and $207 in Snohomish County. This illustrates the affordability difference between both counties, which is why the increase in sales in Snohomish County is markedly up. Condos provide a more affordable option for buyers, and if one is looking to land in Snohomish County, condos can be the most affordable housing purchase option available.
The good news for condo sellers is that days on market are down by 40% in King County, and 31% in Snohomish County. In July, the average days on market was 16 days in King County and 19 days in Snohomish County. The average sale price in July in King County was $446,000 and $291,000 in Snohomish County – up 17% and 12% respectively. Months of inventory is tight in both markets, sitting at one month of available inventory, meaning that if no new inventory came to market we would sell out of condos in one month!
There has been some new condo development, and that has been swooped up quickly, especially buildings going up in the downtown urban core. In fact, according to the recently released Washington State Condominium Report, the median price for a new condo in Seattle was $683,590 – just under Los Angeles and well under San Francisco.
So what does all of this mean? The condo market is much like the SFR market in regards to demand, price appreciation and the affordability divide between King and Snohomish Counties. It is a great market for sellers to realize a positive return and buyers who can't afford or don't want the maintenance of a SFR can find opportunity with condos. If you or anyone you know would like more information on the Greater Seattle condo market, please contact any one of our agents. It is always our goal to help keep you informed.
Many Factors to Consider When Choosing to Rent vs. Own
*The amount of time you need to own your home in order for owning to be a superior financial decision.
There has been a lot of talk lately about the cost of living in the Greater Seattle area. Whether it has to do with home prices or rental rates the story is the same: it is becoming more and more expensive by the month. With rising rental rates, historically low interest rates, and home prices on the rise, the advantage of buying vs. renting has become clear for folks that have a down payment saved, good debt to income ratios and strong credit. In fact, Seattle is now the 10th most expensive city to rent in the country according to a new study from Zumper.com. The average monthly rental price for a one-bedroom apartment in the city of Seattle is $1,740! Snohomish County has seen an increase in apartment growth and rising rental rates as well. Currently, the breakeven horizon in the Greater Seattle area (the amount of time you need to own your home in order for owning to be a superior financial decision versus renting) is 1.6 years according to Zillow research.
There are several factors to consider that will lead you to make the best decision for your lifestyle and your financial bottom line. One of the biggest factors is interest rates! Currently, the rate for a 30-year fixed, conventional, conforming loan is hovering around 3.5%. That is amazingly and historically low, making the advantage of securing a mortgage huge. What is nice about having a mortgage is that the payment stays the same over the term of the loan. With renting, rates can be increased at any time, and you are paying down someone else's asset, not your own. Owning gives the homeowner control over their overhead while getting to make their house their home. What is also so great about owning is that once you have hit the breakeven horizon, every month that ticks away thereafter is building your nest egg in value. Did you know that American homeowners’ net worth is 36 times the amount of renters? The long term benefits of owning are abundant. These are important factors to consider for everyone, but especially the younger folks that are enjoying the benefits of Seattle’s attractive job market and competitive wages.
Where folks are having to compromise most due to affordability is commute times and settling in less urban neighborhoods. Some people, mainly millennials, have not been willing to give up living in the more core urban neighborhoods that have high walk scores and shorter commute times. That should be apt to change as rents are rising fastest in those areas. The advantages of moving out a little further and securing a home will start people on the track of building long term wealth. If you or anyone you know is currently renting and is considering a change, please let us know, as we would be happy to get your questions answered to help you make an informed decision.
A Thirteen-Year Overview of Inventory Levels- Where’s the Balance?
The two graphs here illustrate a thirteen-year overview of inventory levels in both King and Snohomish Counties, highlighting the 2007 crash. Inventory levels are measured by the months of available inventory. For example, if there were 60 homes available in July and 30 homes sold in July, you would be left with two months of inventory; meaning that if no new homes came to market, the demand of 30 homes per month would absorb the 60 available homes in two months. A buyer's market is defined by 6+ months of inventory, a balanced market, 3-6 months and a seller's market, 0-3 months. From March to June of this year we averaged 1.1 months of inventory in King County and 1.2 months in Snohomish County, both extreme seller's markets.
In King County over the last 13 years we saw three years of a buyer's market, which happened during the biggest economic downturn since the Great Depression, after the crash of the housing market in 2007. This economic fallout was a result of predatory lending practices, which created a large population of buyers who were not truly qualified to purchase a home. This oversaturated the market and then led it to its crash when those lending practices were shut down. These severe influences on the market led to quick jumps from a seller's to a buyer's market and then a buyer's to a seller's market. It only took one short year to transition from the seller's market of 2004-2006 to the three-year long buyer's market after the housing crash. Once the sub-prime lending options were shut down in July 2007, it eliminated many buyers, creating an extreme buyer's market. It also only took one short year to transition out of the downturn and back to a seller's market as the economy started to recover. It has been a seller's market in King County since May of 2012 – four years!
In Snohomish County over the last 13 years we saw four years of a buyer's market. Snohomish County was hit a bit harder by the Great Recession than our neighbor to the south, as it took longer to recover. It has been a seller's market in Snohomish County since May of 2012, except for one quarter of a balanced market in the beginning of 2014, when we saw a surge of new construction come to market due to the national builders releasing some neighborhoods they had acquired in the downturn.
Interestingly, the market shifts were brief because the downturn was so severe, which changed the market environment quickly. In order to clean up the predatory lending mistakes of 2004-2007, the market essentially had to come to a standstill and flush out all of the bad loans via foreclosure and short sales, which took five years. The only time we found ourselves in such an extreme buyer's market, was after one of the biggest economic fallouts of the last century. Once that corrected itself we quickly returned to a seller's market due to many positive factors.
Our available housing stock is affected by the limited land left to build on, a thriving job sector (especially in tech), historically low interest rates and the Greater Seattle area being a nice place to live. All four of these indicators have shrunk inventory and put upward pressure on prices. Sellers continue to enjoy great market returns, and buyers continue to fight to secure a home with a 4% interest rate, and not too far from their workplace. Additional inventory would be more than welcomed, it is very clear that we have the demand to absorb it. If you are curious about the value of your home in today's market or securing a purchase please contact one of our agents. We are always happy to help educate you on how this market can benefit your bottom line.
Market Update – Q1 2016
The 2016 real estate market is off to an extreme start! Strong buyer demand due to our flourishing job market and historically low interest rates are the driving force behind this market. Buyers often find themselves competing due to multiple offers which require seller-centric terms in order to win. Prices have continued to grow over the last two years, putting sellers in a very favorable equity position, freeing them up to make the moves they have been waiting for. Additional inventory would help slow price growth and make it less competitive for buyers, creating positive outcomes for everyone. Lending requirements remain stringent, unlike the past “up” market which created the bubble we experienced in 2008.
Scroll down for more details about the first quarter market in Snohomish County, south Snohomish County, north King County, the Eastside, Seattle Metro and south King County.
Snohomish County
More inventory is needed to quench buyer demand as we head into spring and summer.
Snohomish County ended 2015 with a larger-than-seasonally-normal surge of closed sales, leaving us with only 1.4 months of inventory based on pending sales to start the year, which is not much! The first quarter saw a frenzy of buyer activity but only a small trickle of new inventory, leaving us with only 0.8 months of inventory heading into the second quarter. This has caused days on market to shrink and list-to-sale price ratios to rise. These conditions are very favorable to sellers. In fact, average and median prices were up 5% and 4% respectively in March over February! The good news is that new listings were up 25% in that same time frame. We hope to see that trend continue as we head into spring as the buyer demand is there to absorb it and it is needed to slow price growth.
South Snohomish County
More inventory is needed to quench buyer demand as we head into spring and summer.
South Snohomish County ended 2015 with a larger-than-seasonally-normal surge of closed sales, leaving us with only 1.2 months of inventory based on pending sales to start the year, which is not much! The first quarter saw a frenzy of buyer activity but only a small trickle of new inventory, leaving us with only 0.7 months of inventory heading into the second quarter. This has caused days on market to shrink and list-to-sale price ratios to rise. These conditions are very favorable to sellers. In fact, average and median prices were up 5% in March over February! The good news is that new listings were up 27% in that same time frame. We hope to see that trend continue as we head into spring as the buyer demand is there to absorb it and it is needed to slow price growth.
North King County
More inventory is needed to quench buyer demand as we head into spring and summer.
North King County ended 2015 with a larger-than-seasonally-normal surge of closed sales, leaving us with only 1.1 months of inventory based on pending sales to start the year, which is not much! The first quarter saw a frenzy of buyer activity but only a small trickle of new inventory, leaving us with only 0.6 months of inventory heading into the second quarter. This has caused days on market to shrink and list-to-sale price ratios to rise. These conditions are very favorable to sellers. In fact, the average price was up 2% in March over February! The good news is that new listings were up 49% in that same time frame. We hope to see that trend continue as we head into spring as the buyer demand is there to absorb it and it is needed to slow price growth.
Eastside
More inventory is needed to quench buyer demand as we head into spring and summer.
The Eastside ended 2015 with a larger-than-seasonally-normal surge of closed sales, leaving us with only 1.3 months of inventory based on pending sales to start the year, which is not much! The first quarter saw a frenzy of buyer activity but only a small trickle of new inventory, leaving us with only 0.9 months of inventory heading into the second quarter. This has caused days on market to shrink and list-to-sale price ratios to rise. These conditions are very favorable to sellers. In fact, average and median prices were up 4% in March over February! The good news is that new listings were up 43% in that same time frame. We hope to see that trend continue as we head into spring as the buyer demand is there to absorb it and it is needed to slow price growth.
Seattle Metro
More inventory is needed to quench buyer demand as we head into spring and summer.
The Seattle Metro area ended 2015 with a larger-than-seasonally-normal surge of closed sales, leaving us with only 1.1 months of inventory based on pending sales to start the year, which is not much! The first quarter saw a frenzy of buyer activity but only a small trickle of new inventory, leaving us with only 0.6 months of inventory heading into the second quarter. This has caused days on market to shrink and list-to-sale price ratios to rise. These conditions are very favorable to sellers. In fact, average and median prices were up 3% in March over February! The good news is that new listings were up 47% in that same time frame. We hope to see that trend continue as we head into spring as the buyer demand is there to absorb it and it is needed to slow price growth.
South King County
More inventory is needed to quench buyer demand as we head into spring and summer.
South King County ended 2015 with a larger-than-seasonally-normal surge of closed sales, leaving us with only 1.4 months of inventory based on pending sales to start the year, which is not much! The first quarter saw a frenzy of buyer activity but only a small trickle of new inventory, leaving us with only 0.8 months of inventory heading into the second quarter. This has caused days on market to shrink and list-to-sale price ratios to rise. These conditions are very favorable to sellers. In fact, average and median prices were up 6% and 3% respectively in March over February! The good news is that new listings were up 39% in that same time frame. We hope to see that trend continue as we head into spring, as the buyer demand is there to absorb it and it is needed to slow price growth.
This is only snapshots of the trends in our area. Please contact one of our agents if you would like further explanation of how the latest trends relate to you.
Strategy is Key in an Extreme Market
The beginning of 2016 has been quite the ride so far in our local real estate market. It has been the most extreme seller's market we've ever seen. At the end of February, both King and Snohomish Counties ended the month with only one month of inventory based on pending sales. Pending numbers (the amount of homes going under contract) were up 35% in King County from the previous month and up 24% in Snohomish over the previous month. Demand is strong! How we manage that demand is critical. Every type of market calls upon different skills to achieve the best outcome for our clients. In this extreme seller's market the strategy one creates for their sellers to gain the best possible outcome is a fine-tuned, high-effort approach.
First, market research and price positioning not only takes studying the history of the market, but anticipating what is next, so no opportunities are missed. Second, properly bringing the home to market is still paramount. Even though there are less homes to choose from in this market, how a home "shows up" could make a difference of thousands of dollars in return for a seller. An investment in professional photography, staging and marketing only adds to the exposure, increasing interest from the buying public. Third, managing the demand – this is huge! This is where communication and being the calm in the storm is key. It is always our goal to harness control and bring calm during the intense initial market time. It is not our goal to take the first offer that comes our seller's way. Instead it is our goal to massage what the home has to offer over a set period of time in order to garner a great price for our Sellers, but also superior terms, such as waived contingencies. Fourth, it is our goal to end with a contract that has a great price, but also one that will make it to the closing table. There are obstacles in this accelerating market, such as passing appraisal, which we anticipate up front to insure a smooth journey through closing.
By completing extensive market research, studying upcoming trends, highlighting a property's features with superior marketing, executing a strategy to manage the demand and negotiating the best terms for our sellers, we are creating above market-average results! In the first two months of 2016, the average cumulative days on market in King County was 40.5 days and Snohomish County was 50.5. My office averaged 23 days and 25 days respectively. In those same two months the list to sale price ratio in King County was 100.5% and 99.5% in Snohomish County. My office averaged 101.2% and 103.1% respectively. Saved market time and higher price acceleration is resulting in a better bottom line for our clients.
These results do not come without a refined, strategic approach. Understanding the nuances that each market brings equals results in the best interest of our clients. If you or any one you know is contemplating participating in this extreme seller's market please contact one of our agents. It would be our honor to have the opportunity to help create and navigate a successful strategy resulting in a win.
It’s an Amazing Time to be a Seller!
The two graphs here illustrate the amount of homes for sale and the amount of homes sold over the past two years in King and Snohomish Counties. This gives us a good look at the simple principle of supply and demand. 
We are currently experiencing one of the strongest Seller's markets in recent history. A Seller's market is defined by having three or less months of available inventory. Currently, King County has 1.2 months of inventory based on pending sales and Snohomish County 1.3. Where this particular Seller's market is unique is that it is not only a shortage of inventory creating this environment, but very high buyer demand as well. Our local job market is thriving, so much so that many people from out-of-state are relocating here to be a part of our economy and the quality of life the Greater Seattle area has to offer. Couple the healthy local economy with still historically low interest rates and the audience for homes that come to the market is huge! Multiple offers are very common and prices are increasing.
In order to get a better understanding of the market conditions we dug a little deeper and were quite surprised. We looked into the amount of new listings that came to market this January, assuming that there would be a huge deficit of new listings – we were wrong! In King County there were only 111 less listings (-4%) that came to market this January compared to last January, and only 16 less listings (-1%) in Snohomish County. Yes, fewer homes are coming to market, but the high buyer demand has eaten up any inventory carryover month-to-month, leaving us with 30% less homes to choose from compared to the year prior – hence the very low months of inventory. We are coming close to selling out of homes each month and new inventory is required to create more market. It is sort of mind blowing! The good news is, if you look at the graphs above you will see a seasonal uptick in inventory in the Spring and Summer months, and that is needed to meet demand. If you are considering putting your home on the market this year I would advise the sooner the better, as buyers did not hibernate for the winter and will not be worried about flowers blooming in your front yard. Sellers that beat the Spring increase in listings will enjoy a larger audience due to less competition. If you’re a buyer, it is overwhelmingly important that you are aligned with an agent that knows how to win in this market. Terms, negotiations, communication and market knowledge is what sets a highly capable selling agent apart and is required to prevail.
If you have any curiosities or questions regarding the value of your current home or purchase opportunities, please contact any of our agents. It is always our goal to help keep you informed on all things real estate, and help you manage these investments.
Home Price Affordability Driven by Commute Times
Close proximity to the work place is often near the top of a buyer’s list of preferred features. 2015 proved to be the year that commute times to major job centers widened the price divide between key market areas in the Greater Seattle area. Seattle proper has always been more expensive than its neighboring suburbs, but the most current prices tell a tale of two different markets. In 2015 the average sales price for a single-family residential home in the Seattle Metro area was $632,000! In South Snohomish County (Everett to the King County line) the average sales price for a single-family residential home in 2015 was $433,000 – 46% less than Seattle Metro. Further, if you jump across Lake Washington to the Eastside, the average sales price for a single-family residential home in 2015 was $787,000 – 19% more than Seattle Metro! In December, pending sales in Snohomish County were up 12% and closings were up 29%, whereas in King County pending sales were down 9% and closings were up only 4%. We believe this is a result of more inventory choices in Snohomish County, as well as lower prices, new construction, lower taxes, strong school district options and manageable commute times. Newer transit centers and telecommuting have also opened up doors to King County's little brother to the north.
If you are curious about possible commute times, you can search for properties here on our website based on commute times, which is a feature provided by INRIX Drive Time. No matter which neighborhood you are interested in learning about in either King or Snohomish County, any of our agents would be happy to provide a 2015 re-cap of that market. 2015 was an outstanding year in real estate and we are looking for that to continue in 2016. We hope to see more homes coming to market due to the market's strong price position, which should help to increase inventory levels, in turn helping temper price growth and giving buyers more options.
Looking Towards the 2016 Real Estate Market
As we round out a very strong 2015 in the real estate market, it is time to look towards 2016 and what it may bring. After two straight years of inventory challenges, multiple offer madness and steep price appreciation, will things start to temper? Below is a list of my predictions for what 2016 might hold for the real estate market. These are fun, educated guesses based on studying the market and paying attention to important indicators. I hope you enjoy and I welcome your questions or discussions.
1. Interest Rates: They have been saying for a few years now that interest rates are going to go up, and they really haven't. Since 2012 they have ebbed as low as 3.375% and as high as 4.25%, and are currently leveled out at 4% on a 30-year fixed conventional loan. By the end of 2016, I predict that they will be just under 5%. As the economy continues to improve and consumer confidence grows, an increase in rates will be important for the health of our overall economy and the public should be able to handle this rise. Plus, we must not lose sight that the average interest rate over the last 30 years has been 6.959% and we are still WAY below that.
2. Listing Inventory: Inventory has been the biggest challenge this year, with King County hovering between one and two months of inventory and Snohomish Country hovering between two and three months of inventory in 2015. That is LOW!! There are two reasons it has been that way; we have had 21% less homes come to market in King County year-over-year, and 15% less in Snohomish County. There have also been more buyers in the market, causing demand to heavily outweigh supply. In 2016 I think we will see more homes come to market, due to the fact that as prices have appreciated, homeowners have gained much more favorable equity positions, giving them options to make the moves they've been dreaming of and waiting for. Folks are ready to upgrade their lifestyle, whether that means buying a bigger home or transitioning to a "right" size home due to retirement. Pent up seller demand due to these equity and lifestyle factors will lead to an increase in homes coming to market.
3. Buyer Demand: Buyer demand will remain strong! This is largely related to our booming job market and the expanding tech sector. Our unemployment rate is 4%, meaning jobs are more abundant than they have been in years, and wages are growing in every county. Couple this with low interest rates, and it equals a more-than-plentiful pool of buyers. One factor to look out for as we head into 2016, is if the strong buyer demand we have will quickly absorb any increase in inventory, keeping months of inventory basically the same as 2015. This will be a fun one to watch.
4. Prices: We will indeed continue to see price appreciation due to the factors above. Year-to-date, median price appreciation in King County is up 8% complete year-over-year and up 9% in Snohomish County. A year from now I anticipate price appreciation to slow to 6% in King and 5% in Snohomish, due to a bit more inventory, and meet peak levels. This is still higher than the normal 3-4% year-over-year appreciation, but it is below the double-digit appreciation we saw in 2013 and 2014, thank goodness! As we have dug out of the Great Recession's hole and regained equity levels after the fall of the sub-prime mortgage fiasco it is important to retreat back to more sustainable appreciation levels.
5. First-Time Home Buyers: The big talk of 2015 was the Millennial generation, and when they would jump into the housing market. They have started to make their play as they are getting some of those great tech sector jobs, but many are limited in purchasing due to high student loan debt. We are starting to see FICO scores loosen up a bit for this reason. Interestingly enough, the average FICO score for a denied borrower for a conventional loan was 700, and 754 for an approved borrower. Average FICO score for a FHA borrower who was denied was 635, and 687 for an approved borrower. These are important factors to pay attention to along with debt-to-income ratios. Also important to note is that rents are extremely high in the Greater Seattle area, so the cost of owning over the long term is more favorable. Once the Millennials decide that they are ready to settle down, what they are willing to have their commute look like and pay down some of that debt they will be ready to start building household wealth by buying vs. renting.
If you or anyone you know has any questions about real estate, please don't hesitate to contact any one of our agents. We are here to help!
How Much is Your Home Worth?
A Look at Local Home Value Growth Since 2012
Since 2012, home values have grown by around 10% each year, resulting in substantial return in pricing. Below are some examples of actual homes sold in 2012 and again in 2015 that were not remodeled or significantly improved in between sales. These examples show the return in home values that we have experienced since the economic downturn. We pulled these examples to show you actual pound-for-pound market data versus the statistical percentages often quoted in market updates. We think these examples are pretty telling and quite exciting!
As you can see in the current economic update from Matthew Gardner, inventory has been a challenge. Many folks have been waiting for their current home values to return in order to make big moves involving their retirement, upgrading homes, investing or even buying a second home. If you are one of those people, we hope these examples provide you insight on the increase in home values and how they might pertain to you. As we head into the New Year, if you'd like a Comparable Market Analysis (CMA) on your home so you have a better understanding of your home's value, any one of our agents would be happy to do that. This would be an important component in charting your 2016 financial goals, and what a great time of year to gather that information.
3 bedroom 3200 sq ft Edmonds home: |
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Sold in August 2012
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Sold in July 2015
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$185,050 INCREASE IN HOME VALUE: 32%! |
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4 bedroom 2100 sq ft Bothell home: |
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Sold in February 2012
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Sold in February 2015
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$114,872 INCREASE IN HOME VALUE: 36%! |
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3 bedroom 1400 sq ft Shoreline home: |
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Sold in June 2012
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Sold in March 2015
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$102,250 INCREASE IN HOME VALUE: 33%! |
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3 bedroom 1800 sq ft Lynnwood home: |
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Sold in December 2011
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Sold in May 2015
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$95,000 INCREASE IN HOME VALUE: 43%! |
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We are currently working on more examples in surrounding communities… check out our Price Appreciation Study for more. And contact any one of our agents for a Comparable Market Analysis on your home.
