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A Year Round Washington
Snowmobile Parks in Washington State
The sport of snowmobiling is growing every year and it easy to see why. Snowmobiling offers a wonderful family and friends experience as opens up opportunities to see Washington’s back country scenery. If you are like me, you can’t get [...]
Home Buyer & Seller Information
Purchasing Short Sales & Bank Owned: Deals or Headaches?
Bank owned and short sales properties dominate the Snohomish County real estate market and it’s no surprise that many buyers are actively searching for these types of properties. But are these properties the bargain of the century or are they [...]
Snohomish County Market Updates
Snohomish County Lot Sales 4th Quarter 2009
The lot sales in the 4th quarter of 2009 Snohomish County has increased by 36% over 3rd Quarter 2009, a significant gain since it’s not typical for banks to be lending to builders. More impressively, the prices on vacant land [...]
New Construction Market Overview
Snohomish County has seen diminishing amount of lots sales through the first 3 quarters of 2007 and it is estimated there will be little change when 4th quarter numbers come out.
There are 5,796 news and/or vacant lots available in Snohomish County (these do not include the volume of resales currently available of 5,968). This equates to 4.5 month supply of standing new construction where builders are only selling 253 units per month, half the normal rate. Builders have been slashing prices as well as offering buyer incentives to aid in selling their homes.
The standing inventory, providing nothing changes in the market place, constitutes a 22.9 supply, meaning if no new projects become available current inventory will be gone by Sept-Oct of 2009. It is highly unlikely that that would happen since Snohomish County has many building/growth opportunities in the Marysville, Granite Falls, Lake Stevens, Arlington and Stanwood areas.
Look for building to continue just not at the pace it has been in years past but also watch to see if it picks up. With the FED cutting rates, which had minimal effect, the real estate industry could turn around at any time.