Sunday, November 12, 2006

This Holiday Season Is A Great Time To Buy In Seattle

If you’ve been frustrated by too much competition for too few homes, your time to buy is now.

There are a few reasons why the timing is good. First, the holiday season is upon us which brings the normal slow down for this time of year. In the past, I’ve helped many of my clients find better deals during the holiday season, than they’d find otherwise.

Second, there is an increased inventory compared to a year ago. This represents a slowing market. It still favors sellers but it is not as crazy as it has been in the past.

Although the marked is slowing, home prices continue to appreciate. In King and Snohomish Counties the median priced home was up over 10% from October 2005 to 2006.

The market forecast continues to look good as well. Unlike many other areas of the country, Seattle’s housing fundamentals are strong. Job growth looks great, personal incomes are increasing, and there is a population influx. Add this to the urban growth boundary and a growing desire of individuals to get out of their cars and live closer to their work all bodes well, especially for neighborhoods close to Seattle.

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