Everett Washington Real Estate Agent

Everett Washington Real Estate Agent – EVERETT – The pickings are slim – the number of homes listed for sale in Snohomish County is down 50% from last year.

Borrowing is expensive – the interest rate on a 30-year fixed-rate mortgage is more than 7%, compared to 5.6% a year ago and 3% two years ago, according to Freddie Mac.

Everett Washington Real Estate Agent

Everett Washington Real Estate Agent

And mortgage rates are likely to rise again after the Federal Reserve raised interest rates by a quarter of a percentage point last week.

Jen Murrweiss, Everett, Wa Real Estate Managing Broker

Affordable and mid-range homes are popular properties, said J. Lennox Scott, CEO of John L. Scott Real Estate.

In those two categories, “we’re seeing quite a blocked market that’s pushing up prices,” Scott said.

Local real estate agents say small homes and starter homes in the $400,000 to $600,000 price range are flying off the shelves, often going under contract within a week.

Consider this: In June, the median price of a single-family home or condo in Snohomish County was $749,950, little changed from a median price of $750,000 a year ago, according to data from the Northwest Multiple Listing Service.

Do I Need A Real Estate Attorney To Buy Or Sell A Home In Wa?

The median is the point at which half of all homes sell for more and half sell for less.

Home ownership is a goal for many, so there is a lot of pent-up demand, said George Montemar, a real estate agent with Windermere Real Estate in Mill Creek.

Montemor is seeing some potential buyers re-enter the market after sitting on the sidelines for the past year or two.

Everett Washington Real Estate Agent

When mortgage rates were lower, a seller could get 10 or more offers, often tens of thousands of dollars or more over the list price, he said.

Cheap Homes For Sale In Everett, Wa

Colleen Thorsen, a real estate agent with John L. Scott Everett, said homes in the affordable range “under $500,000 or $600,000 sell very quickly.”

In June, the number of active listings in Snohomish County was 923, down from 1,831 a year ago, a 50% drop, according to the listing service.

They may want to sell their home, but are held back by high interest rates and simply cannot afford to improve their home.

As the cost of borrowing increases, home ownership becomes less affordable and a monthly payment buys less of a home, local real estate experts say.

Everett Commercial Real Estate • Josh And Jolene Baijot

One turn of events that could force their hand sooner rather than later is “going back to work,” Thorsen said.

During the Covid-19 pandemic, some people bought properties miles away from their offices, thinking they could easily work from home.

In particular, tech workers who once commuted to an office in Bellevue or Seattle were among those who bought homes in Snohomish, Island or Skagit counties.

Everett Washington Real Estate Agent

“I know a couple that bought a house in Island County a few years ago,” Thorsen said. At the time of purchase, they thought they would work from home to maintain the rest of their careers, she said.

Veteran Realty Services

“Fortunately, they were sticking to the apartment they had in the city because they were called to work,” she said.

Despite higher mortgage rates, owning a home is still a smart investment, says George Montemar, a real estate agent with Windermere Real Estate in Mill Creek. (Photo submitted)

One way to lower your monthly mortgage payment is with a foreclosure, usually paid by the seller or the builder, Montemore said.

With a 2-1 purchase, the mortgage rate of 7% drops to 5% in the first year. According to the lenders, it increases to 6% in the second year and returns to 7% in the third year.

Snohomish County Real Estate & Homes For Sale In Snohomish County

“Maybe in 2024, but that will depend on the Fed’s rate hike decisions in the second half of the year,” Mark Fleming, chief economist at First American Financial Corp., told CBS MoneyWatch .

Last week, the Federal Reserve raised interest rates by a quarter of a point to the highest level in 22 years.

“Even if they decrease, they will not return to the previous rates. Mortgage rates of 6% were normal, and it is more reasonable to expect that too,” warned Fleming.

Everett Washington Real Estate Agent

Despite higher mortgage rates, home ownership is still a smart investment. Home values ​​tend to rise over time, potentially outweighing the cost of a higher mortgage rate, Montemore said.

Seattle Area Real Estate & Homes For Sale

“The word on the street is that the Federal Reserve is considering a rate cut in 2024,” Thorsen said.

Bring on the birds! Your local Wild Birds Unlimited store can help turn your backyard into a “drop in” restaurant.

Wishes now operates eight stores, including three in Snohomish County. Its Alderwood Mall has a spacious space of 7,000 square feet.

The new store, located in pre-pandemic Seattle, offers books and other resources on meditation, spirituality and yoga.

Historic Rucker Mansion In Everett Hits The Market For The First Time In 23 Years

Innovation Hall is the first new building to be constructed on the Bothella campus in 10 years.

The Everett VW dealership is the 12th for the Rairdon Group, which is celebrating its 30th anniversary this year.

If you value local news, make a gift now to support the trusted journalism you receive at The Daily Herald. Donations processed in this system are tax deductible. Dina helped us with the sale of our current home as well as the purchase of our new home. Both deals were completed last summer and we absolutely love our new home. You will not find an agent who is more concerned about the well-being of their clients. She has a genuine desire to successfully represent her clients and understands what they are looking for in a home. She is responsive and professional; she brought our proposal together during the trip and the process was still smooth. We would unreservedly recommend Dean to anyone looking for an agent who provides a professional service with a warm and personal approach. – Leah

Everett Washington Real Estate Agent

Dina did an amazing job buying me an investment property and also sold it a few months after we renovated it. She is capable and communicative. She also advised on design and staging. If you want a strong negotiator and listening agent, choose Dina. You will not be disappointed. – Sean

Belmonte Lane, Everett, Wa 98201

Dina helped sell our land, which was not an easy task as we owned the property. She was able to get us an all cash offer and negotiate an extended closing date that worked for us, as well as get more earnest money from the buyer to ease our worries. She overcame all the obstacles that came our way. Dina will do her best to get the job done. You can tell that Dina truly has her clients’ best interests at heart and puts our needs before her own. She is honest and a true lawyer you can trust. We would definitely recommend her to any of our friends and family. – Gina

Dina was amazing! Her professionalism, communication and attention to detail made her very easy to work with. She kept track of all the details that helped us get the offer accepted the first weekend on the market. I highly recommend her for buying or selling in this area. – Thomas Price

Answer: Thank you Thomas! You also followed and I am very happy with the result! – TOP dollar for your home!

Dina did a great job. She helped with the assessment, then guided the whole process. We had to do some renovations on the house and since I live out of state she helped me do it for me. There were some things the buyer wanted done, she helped with that too. She kept me updated and informed throughout the process. I have dealt with many real estate agents over the years, she is one of the best. – Gary Whittaker

Barb Lamoureux, ‘north Everett’s Real Estate Agent’ Retires

It was a pleasure working with Dina. Even though buying real estate in Seattle is one of the most competitive in the country, our offer went surprisingly smoothly thanks to the strategy Dina helped us develop. The property we wanted had an ancient history with some unknowns. Staying on top of things and keeping us informed in a timely manner, Dina helped us navigate through all the challenges and we were able to close within days of our original closing date. We highly recommend Dean for any real estate transaction regardless of budget. – First Honor

Answer: It was a pleasure helping you and your wife find the perfect property! I wish you the best and success in your endeavours.

Real estate agents remind me of car salesmen. To sell quickly and then no longer exist or care. NOT with Dina. She not only made the whole process comfortable, but also trusting. We bought it almost two years ago with her help and she still checks in with us today! She takes the time to get to know you and your family! She is loyal, honest and patient. I tried to buy a house for years, but I kept getting scared and scared because I didn’t feel like the agents had my best interests at heart. I finally decided to try again and met Dina and bought my first house!! we

Everett Washington Real Estate Agent

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