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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March 6, 2023

Understanding the "Market Value" of Your Home or Property

Understanding Market Value of a Home or Property in Snohomish CountyWith housing inventory remaining low in Snohomish County and concerns of continued interest rate hikes, you are probably wondering how those factors will impact a home's or property's market value.

Or, are needing to sell a property due to a death or divorce and haven't been tuned into the housing market for a period of time? Whatever the reason for selling, it's important to understand the "market value" of your home or property and how its derived.

Related Webpage: Click >>> To Receive an Instant Property Valuation

In Snohomish County we use a Market Approach when determining a home's or property's value based on comparable (similar) properties. That Market Approach looks at comparable active, pending inspection, pending, and sold properties as well as days on market and median/average closed sales prices to determine a recommended listing price.

Related Webpage: Click >>> How to Sell a Home Flowchart

Yet, there are other items that sellers need to be away of when understanding home valuations and in this article we'll outline the factors that go into:

  • What the Market Value of Your Home is NOT
  • What the Market Value of Your Home is BASED On
  • What Sellers / Homeowners Can Control
  • What Sellers /Homeowners Cannot Control

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Feb. 27, 2023

Snohomish County Washington Census Data

Whether you're new to the area or just conducting research on Snohomish County Washington, here is a infographic that is easy to read and highlights the following County statistics:

  • County Size in Square Miles: 13th Largest in WA State
  • Population: 833,540 in 2021, 0.7% increase from 2020
  • Housing Units: 318,057 with a owner occupied rate of 68%
  • Building Permits: 5,780 new permits in 2020
  • Boeing & Navy: Leading employers

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Feb. 20, 2023

What is Being Built at 172nd & 23rd Ave NE in Marysville?

Providence Health & Service-Wa Marysville / Smokey PointHave you been curious about the dirt work along 172nd in Lakewood over the past years? If so, you're not alone.

Many folks we've talked to have been more than interested and we all have heard our fair share of rumors. So we decided to do more research as previous attempts never alluded to who might be the owner, other than a LLC.

Today, it was noticed that the corner of the 172nd and 23rd Ave NE that Providence Health & Services-W owns 2 parcels totaling 9.55 acres - the south eastern side of the round-a-bout and across from Hobby Lobby.

While its unknown what type of services would be there, it is good to read the lots are not owned by another apartment investor - traffic in the area is pretty bad right now.

Do you have any thoughts on the 172nd development that you'd like to share? If so, the comments below are open.

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Feb. 14, 2023

January 2023 Real Estate Snapshot Infographic

The Northwest Multiple Listing Service (NWMLS) published its Market Snapshot for January 2023 which we've complied into easy to follow infographic. The infographic highlights the following categories:

  • Closed Residential & Condo Sales
  • Closed Median Sales Price: Residential & Condos
  • Total Dollar Value of Closed Sales
  • Closed Median Sales Price: New Construction
  • Available Months of Housing Inventory
  • New Listings Comparison: Jan. 22 to Jan. 23
  • Pending Sales
  • Total NWMLS Members & Member Offices

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Feb. 10, 2023

What are the Different Types of Title Insurance Policies

What are the Different Types of Title Insurance Policies? In this blog post we'll briefly touch on common title insurance policies in Washington State.

Lender's Policy

If you've ever mortgaged a home, chances are you were required to purchase a title insurance policy. This Lender's Policy (often called a loan policy) is required by most lending institutions as a way to insure their security interest in the property. This policy protects the bank or other lending institution for as long as they maintain an interest in the property (typically until your mortgage is paid off).

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Jan. 30, 2023

Why Keeping on top of Home Maintenance is GREAT Idea!

Keeping on Top of Home MaintenanceHome maintenance is the never ending battle of homeownership. Somedays you're winning, feeling caught up or ahead of the game, and ready to soak up some couch time. Then, without notice, you can't do anything right. You're breaking toilets, losing tools, and the house just seems to be falling apart around you. Stress is high and you're trying not to snap at the family.

I should know as my experience runs deep and the struggle to repair, replace, and fix a previous owner's care, or lack thereof, is never ending. At times the tasks are hard and sometimes they're easy yet the whole ordeal is overwhelming.

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Nov. 28, 2022

Do People Buy or Sell a Home During the Holidays?

Selling a House During the HolidaysDo People Buy or Sell a Home During the Holidays? It is a common industry myth that people do not buy or sell homes during the holiday season (November through January). The rational behind this myth is: people would rather enjoy the holidays without having to worry about showing(s) while guests are visiting and no one want to be move while the weather is poor.

If you believe the myth then there is no point to list a home for sale or shop online and available homes for sale.

But the answer to the question Do People Buy or Sell a Home During the Holidays? the answer is "Yes". And, its an even better time to sell and buy home for the following reasons.

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Nov. 21, 2022

Moving with a Pet? Here are 5 Tips to Make it Easier

Are you moving and have a pet or pets? If so, here are 5 tips to make the move easier on your pet as well as yourself.

Moving with a Pet. 5 Tips to Make it Easier

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Oct. 27, 2022

What Would Home Values be if They Dropped by 20%?

What Would Snohomish County Home Values be if They Dropped by 20%? Now this title isn't intended to be click-bait and have a shock-and-awe post to follow yet it's an example of where the area could be while bringing some perspective to home buyers and home sellers.

If you were either buying or selling a home between 2020 and 2021 then you are highly aware of market conditions during that time. If not, here is quick overview.

There was a lot of money in the market place and housing inventory was at its lowest levels, ever. These buyers also had access to loan programs that allowed them to borrower against 401k's, stock portfolios, and retirement accounts which facilitated in making "cash" offers with little to no contingencies so they could "win". Sellers on the other hand entered the market expecting, and most of the time achieving, multiple offer situations, aka .. "bidding wars", were buyers dumped money by the truck loads at the sellers door hoping their offer was accepted.

Now, the real estate market has shifted with properties staying on the market longer, sellers are reducing their prices, interest rates are continuing to climb, buyers are writing offers containing traditional contingencies, and industry gurus talk of another recession all the while policy makers are try to curb inflation. Yet, what would happen if property values across Snohomish County dropped by 20%?

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Oct. 10, 2022

Market Statistic Snapshot for September 2022

The Northwest Multiple Listing Service, where we input all properties for sale and where the website downloads all the property data from, has published their September 2022 Market Snapshot statistics.

In the below infographic you'll see statistics for September 2022's median sales price for residential homes & condos, the number of residential & condos sold by NWMLS members, the total value of closed residential homes & condos, median sales price for new construction, housing inventory, and more.

Scroll down the graphic and view the figures for yourself and share your thoughts below.

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