Snohomish County Update

[S-Crow]

Hello everyone. Happy Holidays to all.

Pending sales are a bellwether for current activity.

Pending sales (homes under contract but no yet closed) of Residential only in Snohomish Co. is currently at about 260 units as of today the 18th (mid month) vs. 763 (for all of December) of 2006. Even though a couple here and there may fall through, we have 8 closing days to make up a lot of ground.

Seasonal slow down? If you are being honest, with that kind of spread, no way. I suspect a lot of inventory to come to market after mid January. I am aware of a small handful of must sell situations that are currently off market but will head back onto the market in the coming weeks.

By the way, I've seen a lot of commentary regarding "when the market starts to pick up in earnest ,I'll act to purchase." In other words, when will be a good time to move from the sidelines into the market? Obviously, it is up to each individual as to when that time is, but I certainly will chime in when I sense the market is moving forward in a healthy manner. Escrow/Title units can see this occuring in aggregate much more than that of an individual agent because of the sheer volume of transactions we are closing (or not closing).

Short sales are becoming more common---if anyone finds themselves as sellers in this position, please consult with an attorney (seasoned in real estate...PLEASE) as to the ramifications of this type of sale.

[laxtosnoco]

Thanks for the update on Sno Co and let us know what you see first hand. I keep tabs on listings and sales in the area because I live and plan to purchase here.

There sure has not been much (closed) sales activity that I can discern. In late Nov and early Dec, I saw a number of properties move to STI, then go back on the market. Others have dropped off as listings expire and do not appear to have been re-listed.

It will be interesting to see what the New Year brings.