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.

Get Started with our Top 7 Reads

Oct. 25, 2024

Service Member's Field Guide to Buying a House

Download the Barnett Associates Team’s Field Manual for Active and Retired Service Members

We’re proud to offer a dedicated Field Manual designed specifically for active and retired military service members to guide you through the home-buying process. Whether you’re considering your first home purchase with VA loan benefits or planning your next steps into retirement, this manual is packed with essential information to help you navigate every stage of homeownership.

Inside, you’ll find:

  • An overview of the housing market
  • How to qualify for VA loans
  • Steps to buying a home
  • Insights on renting vs. buying
  • Tips on long-term investment and home maintenance

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Oct. 14, 2024

50 Ways to Help Your Home Sell Faster

Late in 2024, Snohomish County has experienced a real estate market slow-down not felt since 2007. In the latest newsletter, we shared the latest county statistics with market time increasing, home prices declining, new listing down .. etc. and many sellers are probably wondering why there home isn't selling.

Looking back, the Snohomish County real estate market accelerated to fast with the most rapid increase in housing prices taking place during the COVID era - 2020. That rapid increase paired with rock bottom interest rates wasn't sustainable and now the area is feeling it.

In addition to housing prices, Boeing's current strike and looming potential layoffs are further compounding the housing market slow down which many fail to consider. People on strike, are furloughed, or laid-off typically no longer qualify for a home loan due to income changes.

The need to sell remains, and for those looking to stand out, here's a list of tips that can help you sell faster than the competition

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July 22, 2024

Homeownership: The All-American Dream with Hidden Costs

Homeownership: The All American Dream with Hidden CostsHomeownership is the epitome of the American Dream, offering the stability of long-term housing, predictability in school districts, consistency in daily commutes, and a cherished space to create lasting memories. However, alongside these benefits come unexpected financial burdens that can catch new homeowners off guard. Let's delve into some of the unforeseen expenses that often accompany homeownership and discuss how to prepare for them.

Unexpected Home Repairs

Even with a thorough home inspection, unexpected home repairs can arise. Appliances, hot water tanks, heating and cooling systems, and plumbing can fail without warning, leading to significant and unplanned expenses. It's essential to have a contingency fund to cover these inevitable surprises.

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June 12, 2024

Housing Market Snapshot for June 2024

These 7 INTERACTIVE graphs illustrate the Snohomish County real estate market as of the end of May 2024. They let you explore past trends by highlighting specific periods, giving you a clear view of the area's housing statistics over time.

Statistics Covered in This Article:

  • Median Home Price
  • Number of Homes for Sale
  • Median Days on Market
  • Median Percent of Last List Price
  • Median Percent of Original List Price
  • Median Price Per Square Foot.

June's Housing Statistics

Median Home Price: As of May 2024 the median home price was $828,995.

 

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June 3, 2024

Advantages vs DisAdvantages of a Buyer's Agency Agreement

We know homebuyers are apprehensive with the new Buyer Agency Service Agreement that has been put into place at the national and state level. Yet, agency agreement is not as scary as it first seems and can serve many benefits to the homebuyer that may not be immediately apparent.

In the articles A New Era in Real Estate: The Ripple Effects of Burnett v. NAR on Buyers and Sellers and Why Do I Have to Sign a Buyer's Agency Agreement to See a House? we delved into the agreement, the industry impacts and possible outcomes, and what homebuyers are experiencing yet I want to try and simplify why the agency agreement is a good thing for all parties.

In the below graphic, we go through the Advantages and Disadvantages of a Buyers Agency Service Agreement with a broker of your choosing.

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April 2, 2024

Why Do I Have to Sign a Buyer's Agency Agreement to See a House?

Buyer's Brokerage Services Agreement ExampleHave you requested a showing through Redfin, Zillow, or another local real estate website (like us) and the showing agent arrived and asked you to sign a Buyer Brokerage Services Agreement, aka ... a contract, before even showing the home? If so, you're not alone.

Also, you might have been asking yourself "Why do I have to sign a buyer's agency agreement just to see a house?" or "I don't know this agent and I'm not signing anything with them". Both are fair.

You may, or may not have, heard of the changes affecting the real estate industry that went into effect at the first of January 1, 2024. In short, if a real estate broker is going to be providing any buyer related real estate services then that agent and buyer have to have a buyer's agency agreement in place per Washington State law.

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March 12, 2024

Housing Market Snapshot for Febraury 2024

The team's blog tends to focus statistics on the Snohomish County housing market. However, to give a broader view of the housing market for consumers, here are the North Northwest Multiple Listing Service's February 2024 in their Market Snapshot. The snapshot article covers the following categories:

  • Housing Inventory
  • New Properties for Sale
  • Pending Sales
  • Closed Sales
  • Months of Available Inventory
  • Median Closed Price
  • Median Closed New Construction Price
  • Total NWMLS Members

Below are two formats to choose from: video and text + images.

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March 7, 2024

What are Some Housing Options for When I Downsize?

Options for Downsizing when Wanting to MoveThere comes a day that nobody wants to think about and plan for, selling the family home.

Selling the family home comes with a truck load of mixed emotions, many stressors, an array of unknowns, and a overarching sadness that is tough to shake. Leaving a place where so memories were made, families were raised, family and friends live isn't something anyone looks forward too.

However, there are many solutions available for people looking to downsize into a home that is more manageable and that can make day-to-day living far easier.

In this article, lets explore various types strategies people can use to downsize and reduce the stress that comes with a move of this nature.

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Jan. 17, 2024

It's Never to Early, or Late to Get Started

We've written articles about the intricacies of real estate for many years now, started in 2005, and many items and steps of buying and selling a home remain consistent. Yet, just the thought of a next move or a purchase can cause enough anxiety that people fail to take small steps in the larger process. So here is a reminder that It's Never to Early, or Late, to Get Started.

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Jan. 3, 2024

Why Are There So Few Homes Available? Think the Largest Home Ownership Generation

Why Aren't Baby Boomers Moving?If you been following the blog and housing market in general since 2016 then you’re well aware that the volume of available homes has been on steady decline. People are choosing to move less frequent and are comfortable with their current living situation and the biggest demographic not moving is the Baby Boomer Generation.

Baby Boomers, or Boomers, are defined as people born between 1946 and 1964 – pretty much Gen X’s parents. This demographic has had a lifetime to work, raise a family, and pay off a house (s). And guess what? According to PBR.org there are 76 million Baby Boomers living in the United States and they’re facing tough decisions as they get older.

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