Over the previous several years, Snohomish County has experienced monumental growth within the new construction housing market dating back to mid 2013. To prologue this article, lets go back in time to 2007 when home values were plummeting and housing inventory was skyrocketing.

During the 2007 Recession local builders and developers all but stopped and the new construction housing market came to a standstill with banks no longer lending for big projects. During that time it wasn't such a big deal to have very little new homes to sell since resale inventory was more than abundant.

The abundance of new homes in Snohomish County that once bolstered housing inventory from a complete crisis might be showing signs of change.

In the graph below it can be seen that in 2013 new homes experienced an steep increase with availability from approximately 3 homes to 413 homes in 2015. From 2015 to approximately Aug 2020 new construction homes made up a good portion of homes sold within Snohomish County - a quick drive through Bothell, Lynnwood, Marysville, and Stanwood would easily tell that story.

However, since August 2020 there be decline in available new construction homes with less new neighborhoods being built.

Now lets look at new construction graphs for most of Snohomish County's cities.

It seems like we've been publishing real estate videos for years. Looking back, the Team published its 1st YouTube video on Feb. 6, 2015 and our most recent on Feb. 18, 2021. During these last 6 years, the Team created 212 real estate related videos encompassing 45 playlists and now have reached the milestone of 100 Subscribers.

Successes have come in various forms yet all started when the Team obtained FAA approval in 2015 to use drones for real estate. From that single event, the Team was invited to the Museum of Flight to have to booth on drones, some videos have reached the evening news for their quality as well as drones in real estate, Toby made the front page of the Everett Herald in 2015 for drones, and some videos have garnered tens of thousands of views.

The channel has evolved to include more than drone video and now includes 360 Degree, VR, video, home seller videos, home buyer videos, home maintenance videos, and will probably expand to other segments.

If you haven't already, please visit our YouTube Channel and click the Subscribe button.

If you’ve been keeping an eye on the housing market or have read the blog then you know that there is a shortage of homes for sale. The housing supply has continued to decline and competition from other buyers is contributing to the rise of housing prices.

What is not talked about enough is what buyers are willing to do to get their offer accepted.

As both a listing and buyer’s brokers, I have unique insight on how buyer’s broker’s and their buyers are writing offers to appeal to sellers. In this newsletter, I am going to share this unique insight with you.

Recently, I listed three different homes in Snohomish County ranging from $419,950 to $509,950. Each home was in a neighborhood, varied in size and bed/bath count, and all had a fenced yard. Each home had the exact same marketing plan: professional photography, drone video, postings to socials as well as a listing on the NWMLS. In addition, each home was listed publicly for sale on a Thursday and had an offer review date for the following Monday. Using this strategy allowed the sellers to have a full showing schedule to yield the most attractive offers.

Washington State has some of the most iconic views across the nation. The Puget Sound set front and center to the marvelous Cascade Mountains provide a photographer's dream of perfect subject matter. These photographs have stem from around the state and have garnered national attention

Yet, locally, Snohomish County has best views in the State.

Why?

I'm biased, that's why. In all honesty, yes I am biased, I'm a lifelong County resident of Snohomish County and have had the pleasure to ski her mountains, boat on her waters, spend time on her lakes and rivers, and underneath the stars that bath her in light (when its not cloud of course).

So for this blog post, which has been long over due in writing, I will be updating as I take photos from around the area with my handy cell phone and karma. Please enjoy this ever evolving post and the Sunsets of Snohomish County!

Sunsets from my House in Lakewood

Selling a home has a lot of variables: home inspections, financing, title liens and more. Some of these variable can cause delays in the sale of the home and cost thousands of dollars. However, other variables and cost a few dollars yet still cause time delays that are unnecessary and preventable.

One item that is very common for sellers to miss in earthquake straps on a hot water tank. What are earthquake straps? Earthquake straps aka .. hot water tank straps, hot water heater restraints, metal bands .. . etc, are metal straps that secure a hot water tank in its location so it does tip during an earthquake or if someone tries to climb on it.

In the below video, Toby explains why earthquake straps are important to a seller and buyer when a home is being purchased using financing.

Are you considering selling your home or property in 2021? If so, here is a quick, really quick, video from Toby Barnett on the Snohomish County housing market and why now is one of the best times in local history to sell a property. If you'd like to reach Toby, his number is 425-210-0709 and email toby@barnettassociates.net.

If you'd like to learn more before contact, check out the Team's YouTube channel and Facebook page to see how Toby goes above and beyond for each on of the Team's sellers / buyers.

Its no surprise that Snohomish County is, and has been, experiencing an ever decreasing supply of homes for sale and with that, a strong seller’s market. I’m currently assisting sellers in preparing their homes for sale and part of that process to review Active, Pending & Pending Inspection, Contingent, and Sold properties to determine the property's real time market value.

To my surprise, housing inventory is far less than realized and if you’re considering selling, now is the time.

Below are the total Active residential homes for sale in their respective city. Be prepared for a bit of shock.

The Boeing Company's plan to move the 787 Dreamliner program to South Carolina has created shock and some panic; however, amongst us Snohomish County locals the writing has been on the wall.

The 787 program has been slowly outsourced, a topic of displeasure within my circle of friends and a discussion for another time, to South Carolina over the years.

When the most recent news broke of the planned move, there was immediate discussion on the impact to the local economy due to possible mass layoffs and increased unemployment throughout the county's aerospace industry and eventually, how those economic factors will drive down housing values.

Being Boeing is a major local employer and its employees direct their income back into the local towns and businesses; there is no doubt that losing the 787 program to Charleston will have some economic impact.

Yet, will the perceived mass exodus impact home values?

In my opinion, Boeing moving the 787 program to South Carolina will not impact Snohomish County home values.

On May 1st, Governor Inslee announced an extension of the "Stay Home, Stay Healthy" order (the “Order”) and introduced a four-phased approach to re-open business in Washington. All counties start in Phase 1 and will be admitted into Phase 2 by the Governor, based on epidemiological and other indications specific to each county.

On May 19th, in cooperation with Washington Realtors, Governor Inslee announced modifications to the Order for real estate activities in counties that have been approved for Phase 2 re-opening, provided specific protocols are followed. The modifications for Phase 2 include:

• Real estate firms may open their offices in a limited fashion;
• Commercial brokers can engage in the same in-person services as residential brokers;
• Three persons (as opposed to two persons) are allowed on site for permitted in-person real estate activities for both residential and commercial brokerage (for both improved and unimproved property); and
• Sign installers may install real estate signs.

For both Phase 1 and Phase 2 in-person real estate activities, real estate brokers and industry partners (e.g. appraisers, inspectors, photographers, stagers, etc.) must wear cloth face coverings and should encourage clients and customers to do the same.

Public and broker open houses and similar invitations to view a property without an appointment are not permitted in Phase 1 or Phase 2. Only previews and showings by appointment are allowed. Brokers must adhere to the “phase” protocols for the county where the property is located, regardless of the location of the broker’s office or home. Brokers conducting real estate activities in a Phase 1 county, must continue to abide by the Phase 1 protocols, which include only allowing two persons in a property, including the broker, at one time.

A complete list of County Phases can be found here.