Facts Regarding Washington's Real Estate Market

Please disregard what you hear from the news reporter of your choice- they don't have the facts about what is really going on in YOUR market.

The fact is, Washington is doing great compared to the rest of the country. We may have to deal with a few issues in our national economy but besides that, take pleasure in knowing that we are doing well in the Pacific Northwest.

The Washington State University's Center for Real Estate Research put out a report about the status of real estate in our state. Here are some of the highlights:

*Their key message- The Washington real estate market is a stable and an excellent investment that you get to live in!

*The fact about foreclosures in WA- The foreclosure rates 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.

If you want to get some more real real estate news, call the Egerer & Weidauer Team and we can give you a full neighborhood analysis and market report.

Jeremy 360.990.4083 www.jeremyandnicolesellhomes.com Nicole 206.661.7256