Is a Housing Bust coming to Snohomish County?
Lots of home buyers are worried: Will a new recess lead to a new housing bust in Snohomish county – just like in 2008? Mike Novak from The Novak Team in Everett has the numbers for you to make the right decision about your real estate investment.
Many home buyers are worried: Will a new recess lead to a new housing bust in Snohomish county – just like in 2008? Mike Novak from The Novak Team in Everett has the numbers for you to make the right decision about your real estate investment.
Let's start with the good news: We are not going toward a house-led recession right now. Economists are expecting the contrary!
They are sure about one thing: Snohomish county is the second or third highest growing area in the United States right now.
Snohomish’s growth is directly connected to the Seattle market: Seattle house prices average at about 860.000 Dollars. Not everyone can afford this.
For people working in Seattle, Snohomish is a great area to live:
Communities like Bothell and Lynwood offer a short commute to the IT hotspot in Seattle and on the Eastside
Average prices of 550.000 Dollars per home are affordable for first time home buyers and families
Great recreational activities make Snohomish county extremely attractive
Because of this dynamic, current forecast shows the demand for over 400.000 new houses in Snohomish county. This is a huge demand, that will impact Everett, Edmonds and Monroe as well as whole Snohomish County!
Without risky investing, the lending market is stable – it is just hard enough to get a loan.
Bottomline: The market is strong and will continue to grow. Prices will continue to climb due to the connection to the housing market in the Seattle area.
Get in contact below and we can get things moving for you!