Federal Way, WA

FHA Mortgage Insurance will increase for all case numbers assigned on or after April 1st, 2012.

Upfront premiums (UFMIP) will increase by .75 percent to a total of 1.75 percent.

Annual mortgage insurance premiums (MIP) "monthly" will increase by .10 percent, to a total of 1.20-1.25 percent depending on the LTV, for loans amounts up to $625,000.00, and by .35 percent for loan amounts above $625,000.00.

Make sure your borrowers are still pre approved at these higher premiums, and avoid any last minute surprises.

Call me today and I can get your case numbers assigned before the increase takes effect.

2011 Market Report Condos for Federal Way, Washington

2011 Market Report Condos for Federal Way, Washington

Real estate was on a lot of peoples minds this last year. Now that the year is over we can report activity, averages and trends in this 2011 Market Report Condos for Federal Way, Washington.

Federal Way condo activity was brisk and picking up based on the available information and the experience of the Phil Leng Team. We sold 68 homes this past year, with an average market time of 49 days!

However the overall statistics for Federal Way are sobering. Look at this graph. The red bar is the number of houses for sale in any given month. The Green bar is the number of houses sold in any given month. Which of these two categories would you want to be in? The red category, or the green category? If you use The Phil Leng Team to sell your property this year, we will help you get into the sold category. Let's go Green!


The trend of median sold prices in Federal Way is inconsistent from this next graph. The February spike seems to have influenced the overall data. The median price in this 2011 Market Report for Federal Way, Washington appears to have gone down 32%.


Perhaps the good news in Federal Way is that the number of new properties going for sale every month has been steady over the last year. It looks like the trend of new listings every month in this 2011 Market Report Condos for Federal Way, Washington is down 7%.


The average Days on Market in Federal Way appears to be decreasing significantly. The graph shows a 21% drop in days on the market.


If you are a serious seller and need to sell, the next graph is good news. The Months supply of inventory in Federal Way Washington has gone down. The graph shows 81% over the year, however it will not actually be by that much once the properties come on the market this spring. But I believe this is a real trend from this 2011 Market Report Condos for Federal Way, Washington.



Conclusion: If you are a serious seller and need to sell this next year in Federal Way, hire the Phil Leng Team. We have the experience and the track record to help you reach your real estate goals this year.

All data for this 2011 Market Report Condos for Federal Way, Washington is from the NWMLS and is their property. Accuracy has not been independently verified.

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2011 Market Report for Federal Way, Washington

2011 Market Report for Federal Way, Washington

Federal Way real estate was the topic of a lot of conversations this last year. Now that the year is over we can report activity, averages and trends in this 2011 Market Report for Federal Way, Washington.

I would characterize Federal Way real estate activity as brisk and picking up based on the experience of the Phil Leng Team. We sold 68 homes this past year, with an average market time of 49 days!

However the overall statistics for Federal Way are sobering. Look at this graph. The red bar is the number of houses for sale in any given month. The Green bar is the number of houses sold in any given month. Which of these two categories would you want to be in? The red category, or the green category? If you use The Phil Leng Team to sell your property this year, we will help you get into the sold category!



The trend of median sold prices in Federal Way is lower from this next graph. The median price in this 2011 Market Report for Federal Way, Washington has gone down 22% through 2011.



Perhaps the good news in Federal Way is that the number of new properties going for sale every month has been dropping as well over the last year. It looks like the trend of new listings every month in this 2011 Market Report for Federal Way, Washington is down 7%. If you like your house, and do not need to sell it in the next 5-10 years, why put it up for sale? It is just an aggravation.


The average Days on Market in Federal Way appears to have been going down also. The graph shows a 10% drop in days on the market from Dec to Dec. I believe that correlates with the other graphs I have presented. Perhaps folks who have tried to sell for prices the market would not bear have decided to stop trying, and the people who are selling now are the serious sellers.



If you are a serious seller and need to sell, the next graph is good news. The Months supply of inventory in Federal Way Washington has gone down. The graph shows 69% over the year. The trend may change once the properties come on the market this spring. But I believe this is a real trend from this 2011 Market Report for Federal Way, Washington as those who do not really need to sell simply defer their plans until a later time.



My pitch? If you are a serious seller and need to sell this next year in Federal Way, hire the Phil Leng Team. We have the experience and the track record to help you reach your real estate goals this year.

All data for this 2011 Market Report for Federal Way, Washington is from the NWMLS and is their property. Accuracy has not been independently verified.

View Larger Map