As I am sure most as most of you know the real estate market is experiencing a correction due to the subprime market collapse and major lenders exiting the market. These incidents have caused the real estate market, on a whole, to decline. Prices are coming down as inventory increases placing all the negotiating leverage in the buyers favor.
Washington is somewhat protected from the national changes because of a strong economy with a low unemployment rate. But this is not to say that buyers are jumping at the chance to purchase Snohomish County real estate. Buyers are sitting back and bidding their time until prices reach that optimal level. Until that level is reached we will continue to see more inventory coming available with prices slowly coming down.
As a result, the rental market has seen a increase in activity. Investors have been contemplating on getting purchasing additional property to keep up with the increasing demand. Barnett Associates Real Estate, LLC (BARE) has been experiencing this first hand with an increase in contacts, showings, inquiries and doors being rented.
As the rental market picks up a head of steam investors may want to keep a watchful eye on particular properties. To do this just click the property search button and at the top of the page there will be a Search Saver button, fill in your information and you will receive property listing reports for property that meets specific criteria: price, square footage, city, bedrooms and so on.
As Hair Club for Men puts it “I not just the owner, I am also a client“, my profile set up to watch condos from 1,000 – 1,300 sq/ft.
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