Real Estate Information Archive


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5 reasons why you may not want to wait to list your home

by Michael & Leilani McCormick-West

5 Reasons You Should List Your Mukilteo House SOON!


Points About PointsMany Mukilteo homeowners are waiting until the Spring ‘buying season’ to list their homes for sale. Here are five reasons why that might not make sense this year:

1.) Demand Is High

Homes are selling at a pace not seen since 2007. The most recentExisting Home Sales Report by theNational Association of Realtors(NAR) showed that annual sales in 2012 increased 9.2% over 2011. There are buyers out there right now and they are serious about purchasing.

2.) Supply Is Low

The monthly supply of houses for sale is at its lowest point (4.4 months) since May of 2005. The current month’s supply is down 21.6% from the same time last year. Historically, inventory increases dramatically in the spring. Selling now when demand is high and supply is low may garner you your best price.

3.) New Construction Is Coming Back

Over the last several years, most homeowners selling their home did not have to compete with a new construction project around the block. As the market is recovering, more and more builders are jumping back in. These ‘shiny’ new homes will again become competition as they are an attractive alternative to many purchasers.

4.) Interest Rates Are Projected to Inch Up

The Mortgage Bankers’ Association has projected mortgage interest rates will inch up approximately one full point in 2013. Whether you are moving up or moving down, your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

5.) Timelines Will Be Shorter

The dramatic increase in transactions caused many challenges to the process of buying or selling a home in 2012. We waited for inspections, dealt with last minute appraisals and prayed that the bank didn’t ask for ‘just one more piece of paper’ before issuing a commitment on the mortgage. There are fewer transactions this time of year. That means that timetables on each component of the home buying process will be friendlier for those involved in transactions over the next 90 days.

These are five good reasons why you should consider listing your house today instead of waiting.



Mukilteo Real Estate Market Update

by Michael & Leilani McCormick-West

Mukilteo Home Prices On The Rise!

Existing-home sales were up 9.2 percent in 2012, according to a recent report by the National Association of REALTORS (NAR). Existing-home sales, which include recently purchased single family, townhomes, condominiums, and co-ops reached 4.65 million units in 2012, the highest volume since 2007 when it reached 5.03 million units.

Existing Home Sales By Region

Demand remains strong despite a slight sales decrease in December, says NAR chief economist Lawrence Yun. "Record low mortgage interest rates clearly are helping many home buyers, but tight inventory and restrictive mortgage underwriting standards are limiting sales," he said. "The number of potential buyers who stayed on the sidelines accumulated during the recession, but they started entering the market early last year as their financial ability and confidence steadily grew, along with home prices. Likely job creation and household formation will continue to fuel that growth. Both sales and prices will again be higher in 2013."


Mukilteo Real Estate late winter Update

by Michael West & Leilani McCormick-West

Mukilteo real estate in 2013 is looking to be one of the best years in the last 5 years to be a home seller in Mukilteo as 2012 came to an end we enjoyed price increases across the city from 3-10% and 2013 is looking even better with very few homes on the market and high demand with still near record low interest rates buyer demand is high.

So if you are considering selling your Mukilteo home this year contact Michael West & Leilani McCormick-West  the #1 home selling team in Mukilteo for the last 3 years straight and get more for your home.

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Mukilteo Real Estate Specialists 11917 59th Ave W Mukilteo Wa 98275 425-231-8688. 98275