The State Of Real Estate

I was just featured in the January/February issue of the "Residential Specialist", the Council of Residential Specialists publication.

The article "The State of Real Estate" presents the real estate market over the U. S. and what is currently happening in each of our markets. It's interesting to see how markets are changing in certain ares.

The Council of Residential Specialists is an organization of the top 1% of Realtors. There are over one million Realtors in business today, with only 37,000 holding the Certified Residential Specialist Designation. CRS is the symbol of excellence in residential real estate. Our members have proven they have the experience, training and commitment to be among the best in their profession.

Washington Housing Market Expected to Rise in 2007

"After bottoming in the fourth quarter of 2006, existing-home sales are expected to rise through 2007 and into 2008, while new home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors." Our local real estate markets in King and Snohomish counties fall in line with the latest NAR forecast.

Active listings in King County increased by 1,330 homes or 24 percent compared to the same time period in 2005. Year end figures show a 34 percent decrease in home sales compared to 2005 figures. Whereas, sales in December decreased by only 18 percent, indicating the worst is over and the market is improving.

The average market time in December increased by 31 percent from December 2005, while year-end market times increased only 5 percent.

Even though the number of sales were off in 2006 compared to 2005, King County experienced double digit apprecation. The average sales price was 13 percent higher in 2006 than 2005 with an averages sales price of $462,562.

Snohomish County statistics look very similar to King County. The number of active listings increased by 34 percent from December a year ago. December sales decreased by 206 homes or 15 percent, but year end sales decreased by only 5 percent.

December market times increasing 29 percent or 14 days, while year end statistics show an increase of only 2 days or 5 percent.

The average sales prices in 2006 increased by 15 percent compared 2005, increasing to $378,284.

Statistics compiled by the Northwest Multiple Listing Service and are deemed accurate but not warranted.

Washington Ranks 4 In 'K-12 Achievement'

The Education Week Quality Counts survey ranks Washington's public school education 4Th for 'K-12 Achievement' with a score of 14. Scores ranged from a high of 22 for Virginia to a low of -23 for New Mexico.

The survey also ranks each state in a 'Chance for Success' category. Washington came in 22 with a score of 6. Top ranked Virginia scored 22 and bottom ranked New Mexico scored -22.

The quality of our schools effects Snohomish County real estate values, so our #4 ranking is good news for all home owners. I applaud all Washington teachers and students for their achievements!

Wonder what the value is of your home? Visit WashingtonHomeValues.net. A no-obligation market evaluation will be emailed to you.

Realtors "Hill Day" Next Week

Washington REALTORS®' Legislative Day, when hundreds of REALTORS® will converge on the Capitol grounds in Olympia to discuss ways to improve housing opportunities with their legislators is scheduled for Wednesday, January 17. I will be attending as the President of our local Board of Realtors. If you have any housing concerns or issues you would like addressed, please contact me, karen@KarensVillas.com and I will share your concerns with our legislators.