Why NOW is the Best Time to Sell Your Home

sell

Between there being little inventory available in Anacortes and its surrounding areas and rising prices and interest rates, buyers often waste little time looking and want to purchase a home fast.

A recent profile of home buyers and sellers by the National Association of Realtors (NAR) indicates that homes are selling in about four weeks and for roughly 98% of the listing price, despite prices being about 6% higher.

If you are considering selling your house in the near future, contact us today for a complimentary and no-obligation market analysis of your property.

Jean Groesbeck & Assoc. LLC proudly serves the counties of Skagit, Island, Whatcom and San Juan and Team Groesbeck is available daily at (360) 941-3734, Jean@JeanGroesbeck.com, or stop by our office is located in Old Town Anacortes at 809 7th St.

2017 Real Estate Market Predictions

Our crystal ball was pretty clear last year!  Predictions for 2016 (written December 2015) for the real estate market were:

  • New home sales will increase as a percentage of sales. ¬†‚Üź We were right
  • ¬†Homes priced right will receive multiple offers. ‚ÜźWe were right
  • Sellers will hold off moving¬†until they find the home they want to purchase. ‚ÜźWe were right
  • More regulations will cause longer closing time frames . ‚ÜźUnfortunately, we were right

2017 is a little more challenging to predict as the impact of the new administration on the housing market is not fully understood.  However, we are willing to make a few predictions for the real estate market.

Feds will raise rates at least .5% by the end of 2017, perhaps more, in at least 2 increases. This will put more pressure on the first time home buyers.  If you plan to purchase using financing, this is time to buy! Contact a home mortgage lender to find out what you need.

The Puget Sound region will continue to outperform the National market. There will be a shift in living trends in the Seattle area – small units or shared housing will grow in popularity.
A second home in a relaxing environment such as Skagit, Island, or San Juan Counties will be increasingly desirable for those that can afford such a luxury.
Overall prices will increase. Those products that have a higher demand will increase at a higher percentage rate.
The value of pre-owned homes will be impacted by new construction in particular product niches.
The market was even stronger than we predicted.  The population of Skagit and Island Counties increased based on job creation and an exodus from Snohomish and King Counties for those looking for a better quality of life.  The military influx of additional squadrons at Whidbey NAS put pressure on entry level and mid range homes in both the Oak Harbor area and Anacortes.  The shortage of housing caused prices to increase at a higher rate than expected for home in those price ranges.

Home trends that are expected to be popular next year include a continued desire for open floor plans, large garages, lots of storage/closet space, neutral colors and energy efficient homes.¬† What used to be a ‚Äúsmart home‚ÄĚ (i.e. the ability to control heating or lighting from your phone) is the norm for newer homes.¬† First floor master suites, always popular with baby boomers, are becoming more popular with Gen-X buyers. ¬†Formal dining space is not needed, but casual dining space must be large enough for entertaining.

If you would like to receive up to date local real estate market information, please contact us; call, text or email and we will gladly send you monthly information on any city in Skagit, San Juan and Island Counties.

info@jeangroesbeck.com

Info@JeanGroesbeck.com (360) 941-3734

Spring 2016 – Real Estate Newsletter

Every quarter, Jean Groesbeck & Associates brings you a Real Estate Newsletter with the latest news and trends in our current Real Estate market in Anacortes and the surrounding areas.

Here is our Spring Real Estate Newsletter. Feel free to share with your friends and family!

2015 was a Home Run year for Skagit County

2015 was a great year for real estate in Skagit County.

Take a look at our 2016 Winter edition of Real News! We will tell you why 2015 was a “Home Run” year for our market and we will discuss if the real estate market in Skagit County will continue to improve in 2016.

Interested in market statistics for your area? Let us know! we will gladly share the information with you. Call, text or email us today!

 

(360) 941-3734

Info@JeanGroesbeck.com

809 7th St Anacortes, WA - (360) 941-3734

809 7th St Anacortes, WA – (360) 941-3734

2016 Forecast Highlights for the Puget Sound Region

2015

The 2016 housing market in our area is expected to be fast paced and of solid growth. Here are some market highlights in the Greater Puget Sound Region to support this idea.

1. There have been 174,000 people that have exchanged their out of state driver’s licenses for Washington state licenses in the last 12 months. Assuming there are two drivers per household, that’s 87,000 new households moving to Washington. Roughly 75% of those moved to the Greater Puget Sound region, more than 60,000 new households in Seattle-Everett-BellevueTacoma area.

2. In the last 12 months only 7,500 single-family building permits have been issued.

3. Unlike the last fast-paced market (2003-2007) there is not an overbuilt situation (see #2) allowing for speculative buying and flipping.

4. Unlike the last fast-paced market, buyers must be qualified to obtain a mortgage and second home mortgages are requiring more than 20% down.

5. There is more than 8,000,000 square feet of office space under construction in the Puget Sound Region. Of that, 70% is pre-leased. a. Assuming 110 square feet per employee that means employers are planning to hire more than 70,000 employees in the next 3 years. That is in addition to those who moved here in the last 12 months (see #1 above).

6. Delta Airlines’ location of an international hub at SeaTac will add $10 billion in construction work over the next 8-10 years as SeaTac adds 35 new gates for Delta’s hub. At completion and full utilization that can accommodate more than 840 incoming and outgoing flights per day and upwards of 10,000 new jobs for pilots, flight officers, flight engineers, airline mechanics, etc. All high-paying jobs.

7. While the Fed increased its internal interest rate from 0% to 0.25% a couple weeks ago, it has had almost no impact on home mortgages. That is because the increase was for banks borrowing money from the Federal Reserve and not home mortgages. Home mortgage rates will increase slightly throughout the next 2 years, mostly because demand for housing will be greater than supply.

So yes, we think the 2016 market will be at least as fast-paced as 2015, and the 2017 market will be slightly less fast-paced as more single-family and condominiums become available late 2016 and into the 2017-2018 periods.

(source Coldwell Banker Bain/Seal)

If you would like more information on the current real estate market statistics in your area, please let us know. We will gladly share this information with you and answer any questions you might have on the current market trends in your area. We have access to real estate market information in all counties in Washington State. Call, text or email us today!

 

(360) 941-3734

Info@JeanGroesbeck.com

809 7th St. Anacortes, WA 98221

809 7th St.
Anacortes, WA 98221

A Must See Luxury View Home in Mt. Vernon

Private & gated custom luxury home in Mt Vernon

Are you thinking of¬†buying a new home? Our newest listing in Mt. Vernon, WA ¬†is like nothing you’ve seen before.¬†It is a magnificent home with stunning views, custom design, exquisite details, spectacular light and beautiful views! If you are looking for a home with privacy and acreage, look no further! We have the home for you in the quiet Cascade Ridge neighborhood with a private gate shared with only 1 neighbor!

View

The views from this 4+ acre estate are breathtaking, you are able to enjoy expansive views of the San Juan Islands, the majestic Olympics, and Skagit Valley! Sunsets are a sight to see here at this luxury home! As you pull into the gated circular driveway you will notice plenty of parking space, including TWO, 2 car garage, shop, and RV parking. The beautifully landscaped yard includes lush gardens and a koi pond! The covered patio makes it easy to entertain while enjoying the gorgeous views.

Koi Pond

Inside this luxury home you will find a brilliant floor plan with stunning architectural details. Spacious formal and causal entertaining areas feature 9-11′ coved ceilings with elegant lighting and are divided by french doors. As you enter every bedroom, you are able to see the many different views of the great Pacific Northwest! This home features 3 bedrooms and 3 baths. The master suite includes a huge walk-in closet that is cedar lined and a built-in alcove dresser. In the master bath there are his and her vanities, a soaking tub with a large window above, and much..much more..you must see for yourself!

Family Room

Throughout this magnificent home you will see that it’s all in the details and a MUST see.

Please click here Contact us for more information on this luxury view home in Mt. Vernon!

You can call Jean Groesbeck for a private showing 360-941-3734 or email her at Jean@JeanGroesbeck.com

If you would like to see more pictures, pricing, and details on this home Click Here to view the full listing.

809 7th Street Anacortes, WA 98221

Anacortes/Skyline Real Estate Market Update

Looking Ahead to 2014…

I am often asked about the real estate market outlook for 2014.  Overall, I expect an even better real estate market than 2013 in Skagit County but whether or not you benefit, will depend on your circumstances. Here are my predictions for Skyline and Anacortes based upon numerous articles I have read from national and state economists, real estate specialists, national builders, mortgage lenders, and the other agents across the country.

1. Interest rates will stay low but will be slightly higher than they are now.  This will impact first time home buyers the most and anyone who is looking to leverage.

2. If the economy continues to improve in Western Washington, more homeowners in the greater Seattle area will be able move into our area and either telecommute or retire.

3. The second home market is in the infancy phase of a recovery as it is always the last phase of the market to recover.  We have just started to see second home activity, but those buyers will be more cautious than in years past.

4. 2014, like 2013, will be a year of short inventory in many market segments.  We experienced an inventory shortage especially in Skyline.  In 2014, I expect many Skyline homeowners will feel they have recouped enough of their equity and will decide to sell. Competition for these homes will be new construction so condition and staging the home will be more critical than ever (I provide free staging services for my listings).

5. Most Skagit County foreclosures are behind us so there will be fewer appraisal issues on homes in escrow than in 2013.

6. Our population will increase but the number of new homes in Anacortes will be less than the population increase.  We continue to see an increase in multi-generation living as kids can’t find jobs and senior citizens live with their children to help both parties benefit economically.

What does this mean for you if you are considering selling?   Please call Jean Groesbeck for a free no obligation market analysis and to discuss strategies for achieving top dollar for your home.

If you would like to receive our quarterly newsletter, which gives a detailed breakdown of market stats by price, please call (360) 941-3734 or email Jean@JeanGroesbeck.com.  Your Anacortes Skyline specialist!

More Good News for the Anacortes Real Estate Market!

Here is the latest information on the real estate market provided by the NWMLS:

Home sales for 2011 finished much stronger than they started.  According to the figures from the Northwest Multiple Listing Service, pending sales in the fourth quarter of 2011 out gained the first quarter of 2011 by 21 percent.

Pending sales for December 2011 also increased by 20 percent from the year before.¬† Also, both November and December 2011’s pending volume exceeded the total number of new listings.¬† A disproportion like this has not occurred since November of 2006.

December 2011’s closed sales also surpassed the totals recorded from December 2010 by 7 percent.¬† Prices continue to come down, due in a large part, to the¬† many distressed typically low-priced¬† properties on the market.

In addition to low prices, there is also little inventory in the marketplace with a 17.2 percent decrease in the amount of active listings in the MLS database from December 2010 to December 2011.  The inventory in Seattle  is also down 30 percent from the previous year.

The combination of shrinking inventory with favorable financing is causing some areas to lean toward a seller’s market, as measured by the supply of homes.¬† Currently there is about a five month supply of homes, which is usually considered a balanced market for both buyers and sellers.

This bodes a happy 2012 for the real estate community!

Statistical Summary by Counties: Market Activity Summary ‚Äď Dec. 2011

Single
Family
Homes

+ Condos
LISTINGS PENDING
SALES
CLOSED SALES
New
Listings
Total
Active
# Pending
Sales
# Closings Avg.
Price
Median
Price
King 1,552 7,472 2,060 1,849 $359,912 $291,000
Snohomish 763 3,249 1,013 846 $252,144 $222,750
Pierce 846 4,280 923 791 $199,071 $175,199
Kitsap 202 1,403 201 201 $259,441 $228,000
Mason 47 590 47 39 $156,752 $133,800
Skagit 125 863 100 101 $216,803 $200,685
Grays Harbor 102 735 52 60 $133,550 $117,500
Lewis 78 613 48 46 $142,388 $117,750
Cowlitz 74 472 57 59 $138,786 $140,100
Grant 61 470 35 36 $160,490 $146,450
Thurston 211 1,324 230 228 $226,824 $212,000
San Juan 17 329 13 18 $442,235 $361,000
Island 92 739 67 79 $259,915 $215,000
Kittitas 44 398 39 36 $201,072 $177,995
Jefferson 35 435 23 34 $188,685 $152,500
Okanogan 31 349 15 11 $136,666 $117,000
Whatcom 131 1,267 152 170 $236,790 $219,000
Clark 22 191 29 28 $187,891 $170,500
Pacific 31 347 21 23 $176,752 $137,000
Ferry 2 58 1 1 $250,000 $250,000
Clallam 37 365 41 34 $210,326 $194,900
Others 101 690 70 51 $220,919 $169,900
MLS TOTAL 4,604 26,639 5,237 4,741 $276,009 $225,000

*This information is provided courtesy of the Northwest Multiple Listing Service

We would love to help you with your real estate needs whether you are looking to buy or sell a home. For more information on Anacortes real estate, please contact Jean Groesbeck or Linda Harris!

Contact Jean Groesbeck ‚ÄstJean@ColdwellBanker.com or¬†(360) 941-3734
Contact Linda Harris ‚ÄstAnacortesRealEstate@gmail.com or (360) 202-8888