There has been so much talk, discussion, and questions around the Snohomish County real estate market if it has peaked, are home value going to plummet or continue to increase, how long will the shift last, and how high will interest rates go? All those are valid concerns for home owners, potential buyers, investors and if you're like us, this is not the first time you've experienced a market shift.
Regardless of the shift, people need housing and many times housing is dictated by events in that person(s) life. Family could be growing or shrinking, job changes drive moves to new areas, wanting personal space and not having roommates or the opposite of wanting roommates, and/or just a change of scenery. Whatever the reason(s), homes still become available and sell during shifting markets.
So, how do residents stay current with the Snohomish County housing market when there is so much uncertainty around housing prices, mortgage interest rates, housing inventory, and avoid the feeling of defeat? Simple, continue reading.
We've published articles detailing quick search links, creating multiple property searches, improving personal finances, improving credit score, and more on the blog. These articles are great for diving deeper yet an overview outlining 4 things you CAN DO NOW to ensure YOU find the best deals during a transition real estate market.
1. Set a Goal: Is that goal to purchase a home, to set up 10 different property alerts, or learn and gain knowledge about a town's neighborhoods, to obtain a home loan and/or loan for an investment purchase? Whatever that goal maybe, write it down, frame, tack above your computer, place it on the fridge so it visible and front and center of your thoughts. That way the goal becomes real and feels obtainable.
2. Create a Plan: To achieve any goal a plan must be constructed. For example, if the goal is to purchase 2 investment properties in 2023 then what will that goal take? Maybe the plan includes driving through various towns to visually learn the neighborhoods and not just reviewing homes online, setting up property alerts for those specific neighborhoods of interest, setting up property alerts based on price to stay within budget, speaking with a mortgage officer to fully understand investor based financing and down payments, being in contact with a property manager to know learn the rental rates are stable/increasing/decreasing in the desired area of purchase. Make a plan and follow it.
3. Be Diligent in the Process: Finding the best deal(s) takes times, research, preparedness, desire, and tenacity. Some people think purchasing a property is like buying anything else. It is not. Buyers in the resale housing sector are subject to what homes and properties become available at any given time and what is available is in a constant state of change. Watch those alerts just like real estate brokers watching for their clients.
- Want help? We can help set up website or NWMLS property alerts.
4. Execute the Plan: You've spent so much time setting and writing down goals, creating actionable plans for each one of the goals, researching and studying neighborhoods, and now its time to act. A property has been listed that meets all the criteria yet writing a Purchase & Sale Contract can immediately trigger stress, second guess, and more. This is can be the most nerve racking part of the process because now its Go Time! Don't worry, it happens to everyone.
Finding the best deals isn't rocket science yet takes hard, diligent work. If you have more questions about finding the best property deals in Snohomish County please contact us, comment below, or give us a call and we'll be happy to assist.
.png)
.png)
.png)
