MARKET FLASH: The first month into 2018 and not to my surprise that we are still seeing appreciation on the rise in King and Snohomish County; as recently illustrated in the Seattle Times, listing Seattle as hottest Real Estate Market in the U.S. for 15 months in a row. We are seeing large growth in value in West Bellevue/Medina at 167.3% (YTD) with the median home price surging to $2.2MM. Other areas such as Kirkland/Bridal Trails, Mercer Island, West Seattle, North Seattle, are all seeing appreciation around 30% (YTD). With historic lows in inventory through this past Nov/Dec we are starting to see more SFR and Condos become available throughout our region. Although, we have an increase of inventory, (happy dance) we still have a large pool of buyers; indicating we will continue to see multiple offer scenarios - which is why it's all the more important to work with an agent that is seasoned, well trained and has the experience to negotiate and help to put you in the best possible position; leading to a successful purchase of a new home! With that being said, it if you are at all interested in purchasing a new home, keep in mind that the interest rates have also been on the rise which may impact buying power. I have some highly recommend contacts that I would be happy to provide - if you are interested in further discussing obtaining a home loan. And remember first-time home buyers, it is much easier than one may think to qualify for a loan with all the programs and offers available to you.
While appreciation still on the rise, please let me know if you or anyone you know is interested in learning more about current values, market conditions or simply have a obligation free value assessment on a current home, please feel free to reach out to me. I am happy to be your resource for all of your real estate related needs and would love to earn your business.
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FB - Mimi Thomas - Coldwell Banker Bain
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