Snohomish County Real Estate Blog, News, & Statistics

The Snohomish County real estate blog address news and statistics which are pertinent to the real estate buyer, seller, and investor. Our goal is too provide educational information so people can make the best housing decision for them and their lifestyle. Please feel free to ask questions, participate in discussions, and share your experiences.

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Jan. 14, 2020

Short Sales: 2 Myths of Short Sale Properties

From 2008 till approximately 2015 the real estate and home buying/selling landscape looked drastically different than what we have today. Since those years, there hasn’t been much discussion around the office regarding what short sales, how to buy short sales, and where to search for short sale properties.

In this video, Toby answers those questions and if you’re more inclined to read then continue down the page.

Here is a brief overview of the video:

What is the definition of a Short Sale? A short sale is when a property owner is selling their property for less than what’s been mortgaged, or owed, against it.

Example: If the property has $500,000 owed against it and its being sold for $450,000 the property is considered a short sale.

Related: What is a Short Sale Property

Short Sale Myth #1: A Short Sale has a faster than normal closing timeframe.

Short sales have nothing to do with time frames of purchase as it’s a myth that a short sale is synonymous with being a fast sale. Quite the opposite and we in the industry used to call them long sales.

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Jan. 6, 2020

Graduated Real Estate Tax (REET) for Snohomish County

Starting Jan. 1, 2020, if you’re selling a home or property in Snohomish County then the sale will be subject a new Graduated Real Estate Excise Tax (REET) by Washington State and Snohomish County. Here is a quick video, and a graphic below, that breaks down the following:

  • REET on a $500,000 and below home.
  • REET on a $500,000 - $1,500,000 home.
  • REET on a $1,500,000 - $300,000,000 home.
  • REET on $300,000,000 and above home.

After watching the video, continue reading to see a State and County combined tax rate table and a graphic illustrating working examples on the mentioned properties.

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Dec. 12, 2019

Why Should I Work with (Hire) Only One Real Estate Agent

Whether you’re selling a home or buying a home in today’s fast paced real estate climate, it is wise to hire an experienced real estate broker. There are many reasons for this: a real estate broker keeps current with housing trends and local statistics that impact pricing, are required to take and complete continuing education courses in contracts and more, and typically sell more homes in a five year period than the typical homeowner.

Why should I hire one real estate agent?Some think that real estate brokers are the used car salesmen and are only looking out for themselves. I’ve been told this personally on more than one occasion yet this article isn’t here to argue opinions of our chosen professional. However, this article is here to give advice that when hiring a real estate broker you hire one, and only one.

Let me explain though I’ll have to back track just a bit.

I’ve been told by some they like to work with many real estate brokers because they feel like they get more information and can’t always rely on their agent to pick up the phone, answer an email or text, around the clock. They use many websites because the information is different and try to get any agent to show them a house at a moment’s notice. They don’t care who writes an offer on a home as long as they get the house they want.

Fair enough. The logic is there for information gathering and trying to get the best deal by talking to as many agents as possible. However, I’m of the opinion that when working with too many agents at once the experience is actually diminished.

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Dec. 2, 2019

Plan and Prioritize Home Maintenance to Save Money

Planning Home Maintenance When working with new homebuyers a question that often arises is “what happens if the hot water tank breaks?”. Now it may seem obvious to those who currently own but to those who haven’t it can be a cause of sheer panic. Heck, even those who own and are familiar with home maintenance can panic at any unexpected expense.

I’ve been working on a video series called Home Maintenance Minutes over the last year with the aim to cover home maintenance items that often arise during home inspections: furnace filters, moss on a roof… etc. These smaller and regular  maintenance items are critical to preventing larger scale expenses and panic situations.

With that said, how does a homeowner plan and prioritize home maintenance items? That is the target for this blog post and if you’re facing items and feeling a bit overwhelmed then this blog is for you.

Step 1: Identify Needs and Wants

Identifying Needs and Wants will aid in a building a workable list of maintenance items that can be addressed in the near future and wants that can be done without until the right time. It is helpful to ask your spouse, friend, parent, or even kids to assist and walk through and around the home taking notes.

Example: A Need is to replace a leaking garbage disposal. A Want is get a new flat screen for the master bedroom. A Need is to replace a leaking faucet and a Want to pick up the new release of Call of Duty.

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Nov. 26, 2019

Protect Your Water Pipes with Hose Bib Covers

Broken water pipes can cost thousands to repair and usually come at the most untimely times (near the holidays and in the middle of the night). The cheapest and easiest way to protect a home's water pipes is to cover the hose bib, or water spickett, with a hose bib cover.

Hose bib covers can be found at any Lowe's, HomeDepot, Ace Hardware, and E&E Lumber and are really inexpensiveness. I also did a Amazon search and found some hose bib covers for as low as a $1.50. So, pick up some covers and protect your home this winter and save yourself much unneeded frustration.

Thank you for watching this home maintenance minute video and please subscribe for more videos.

Nov. 1, 2019

55,467 Californians moved to Washington State last year.

Being known for little-more than the The Boeing Company, Snohomish County has grown so much over the last 30 years. People are now talking about the bustling economy, widespread employment opportunities, and a robust housing market.

This growth has helped to shape local communities and has extended out to the smaller towns. The downside of this growth and strong economy is traffic.

Traffic used to start in Lynnwood and travel south into Seattle for the morning commute and reverse in the evenings. Now, that traffic extends all the way to Smokey Point. This article isn't a tirade into the County's traffic increase though it easily could be. However, with all the growth, were are all these people moving from?

Related: Relocating to Snohomish County

In a recent MSN Real Estate article 691,145 Californians left last year: What state did they go to? shows Washington State ranked 3rd for California's outward migration flow with 55,467 people entering the State.

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Oct. 28, 2019

Pink the Rink Jersey & Hat Combo Winners!

Oct. 16, 2019

Pink the Rink Annoucement

Pink the Rink was a great success and a superb time and we hope you all feel the same way. If you're checking in on the jersey hat combo giveaway please rest assured we're working on it. There were many entries and look for an email by day's end announcing the day of the drawing.

Oct. 8, 2019

Pink the Rink at Angel of the Wind Arena

Pink the Rink Angel of the Wind Arena

Join us Oct. 12th at Angels of the Winds Arena for Pink the Rink and raise awareness for Breast Cancer and celebrate survivors.

When: October 12, 2019
Where: Angel of the Wind Arena (Everett)
Time: Puck drops at 7:05pm

WHAT IS PINK the RINK?

Pink the Rink is charity hockey/fundraiser event sponsored by Angel of the Wind Casino in conjunction with Safeway, Toyota of Marysville, Pepsi Co., and the Barnett Associates Team (we're new volunteers/sponsors). In addition to a fundraiser and celebration, Pink the Rink is also a hockey match between our local Everett Silvertips and the Seattle Thunderbirds which should be some great evening entertainment.

2 GRAND PRIZE GIVEAWAYS

Since we're a first year sponsor we'd decided to do something special.

We're giving away 2 Grand Prizes: Silvertips Jersey & Hat and Thunderbirds Jersey & Hat. Just stop by our table and fill out an entry form for your chance to win. The drawing for the Grand Prizes will be held at a later date so the winners can then choose an appropriate size jersey.

But that's not all. That evening we'll be giving away 5 Breast Cancer Awareness Bags that include a hat, lapel pin, car decal, wrist band and a scarf.

Hope to see you there and please stop by our table to enter to win.

Oct. 1, 2019

INFOGRAPHIC: NWMLS Market Snap August 2019

Below is in infographic from the NWMLS regarding real estate statistics for August 2019.

Washington State Real Estate Market Snapshot for August 2019