Is Washington State really seeing more foreclosures? Yes, but not like the national trends. Actually we have seen a very slight increase ( See Chart Below) due the strong economy in Washington State and Washington did not experience the unhealthy appreciation in the last few years. For example- Washington State is experiencing 1 in every 1,476 housesholds going into foreclosure-compared to Nevada 1 in every 278 or Florida 1 in every 382 or Arizona 1 in every 703. So, once again Washington State is not following the national trend!!

The chart below depicts the number of foreclosures in Washington State for the past few years.

	2007	2006	2005
January	2,125	1,547
February	1,620	2,008	1,401
March		1,844	1,091
April		1,638	1,347
May		1,511	1,951
June		1,440	1,077
July		1,189	1,117
August		1,613	1,185
September		1,441	985
October		1,595	1,001
November		1,440	870
December		1,261	1,118

 

Last week, Steriod-pumped stocks kicked sand in the face of the the 97-pound weakling Bond market, and home loan rates worsened by about .125% across the board. What happened?  You will learn more in this weeks weekly mortgage update.

Weekly mortgage update.

Sellers comments when ask-

How would you describe the service you received?

Josh was wonderful! We interviewed other agents and we were the most impressed by Josh. He was the Best selling agent we have ever had!

Is there something Josh could have done better?

No, we really appreciated everything Josh did and we would use him again.

As expected, the Fed voted to leave the Fed Funds Rate holding steady at 5.25%. However, it was the tone of the Policy Statement that was not so nice for Bonds or home loan rates, which worsened a bit following the release. Why? Read on in this weeks mortgage update!

Weekly mortgage update.

Talk Derby to Me.....If you did tune in to watch the biggest horse race of the year, you know that "Street Sense" was the lucky horse who won the "Run for the Roses", the Kentucky Derby. And the news from Wall Street was aslo galloping in fast and furious last week- in this weeks mortgage update you will see how home loan rates improved.

Weekly mortgage update.

Gorgeous DR Horton resale! 3135 square feet, 4 bedrooms, 2.5 baths. The gourmet kitchen is the focal point of this elegant home, boasting granite countertops, tile backsplash, stainless appliances, gas down draft stove, hardwood floors, and pantry. Spacious living room, dining room, family room, half bath, and kitchen eating area complete the downstairs. Hilighted with crown molding, custom pillars, and floor to ceiling rock fireplace. Upstairs, the stately master bedroom suite is accented by a private sitting area and a private deck that flow seamlessly into the 5 piece master bath with tile floors, tile countertops, large soaking tub wrapped with tile and a generous size walk-in closet. You will also find the utiltiy room, bonus room and three more bedrooms upstairs. Your lot includes a fully fenced backyard, built-in sprinkler system, yard lighting, and covered front entry. Located close to Mill Creek town center, I-5, and shopping. Websters Pond is a two year old neighborhood with curbs, sidewalks, large streets, community parks, and pride of ownership found throughout.

Snohomish County Stat Comparison	April	March	February	January
Residential Home Sales	815	838	595	501
Residential Homes Pending Sale	1,755*	1,475	1,349	1,205
Active Residential Listings	3,917	3,439	3,112	3,112

*889 went pending in the month of April

The month of April has proven to follow the usual trends in Real Estate by the increase in the number of active listings and an increase in pending sales.  What has changed compared to last year is the market time for selling your home. We have seen the market take a turn in a direction to more of a buyers market but this is also area and price specific. As you can see the number of active listings has increased by a greater number of pending sales since March, hence  longer market times for sellers and more competition but a greater selection for buyers. Will this trend continue? We will see!

 Interest rates remain around 6.25% for a 30-year fixed with no points.

Seller comments when asked.....

How would you describe the services you received?

Above and beyond what was expected or required.

Is there something Josh could have done better?

No

Other comments?

Josh did an awesome job and we would gladly use Josh again.