Your Dream Team
John L. Scott, Belfair
Your Dream Team ~ Rob Drexler ~ Alisha Harrison ~ Call 360-275-1600
Get the Facts Straight!
Posted on November 2, 2007
Tired of the media hype surrounding the Housing Market in Washington State? Ready for some truth? Here is some accurate data that might help you dicipher the misinformation that's out there.
First:
The Washington real estate market is stable! Homes are an excellent investment that you get to live in (or rent out)!
Facts about Foreclosures:
The foreclosure rates today are the same as they were 10 years ago!
Fewer than one percent of mortgages end in default in Washington state.
As of mid-June, sub-prime, adjustable-rate loans represented 20 percent of loans nationally, but just 6 percent of home loans in Washington.
The Market is Strong:
Home appreciation in Washington continues to out-perform the rest of the nation with year-to-year price increases every quarter since the spring of 1995!
The Market is Stable:
Home prices in Washington have increased an average of 8.1 percent since the same time last year. Many counties, however, have experienced price hikes much higher: Chelan 29.8 percent, Okanogan 24.5 percent, Douglas 22.2 percent, and Lewis 19.3 percent.
WSU Center for Real Estate Research (CRER)
The demand for median-priced homes has never been greater.
Why is Washington Different:
The home market isn't keeping pace with the growth of the state's population, which is continuing to increase at 1.8 percent per year.
The state's population will increase by nearly one million over the present decade and reach 6.8 million by 2010. About two thirds of the growth is due to in-migration; the rest is a result of the growth of families now living in Washington.
Washington State Office of Financial Management
What About Inventory:
The key to stability in the residential real estate market is balance, where balance is about a six month supply (or inventory) of homes available on the market at any given time.
Who We Are:
Washington REALTORS represent approximately 170,000 homebuyers and the interests of more than 2 million homeowners throughout the state.
REALTORS top public policy priority isbuilding communities that havea strong economy, attractive home choices, great schools and parks, safe neighborhoods, and good transportation choices.
Call today for more information or just to discuss the facts!
"Your Dream Team"
Rob Drexler
2007 Mason County Assoc. of REALTORS President
360.620.2466
Margie Heath
2009 Mason County Assoc. of REALTORS President-Elect
360.271.1926
Alisha Harrison
2007/2008/2009 Mason County Assoc. of REALTORS Director
360.649.0374
