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Friday, February 6. 2009
I was given this information by Pacific Northwest Title (www.pnwtsno.com) and thought it to be informative enough to pass on to you...... | Zip Code | Median Home Price | Median Income | | 98012 | $404,950 | $86,462 | | 98020 | $451,000 | $73,400 | | 98012 | $412,000 | $73,022 | | 98026 | $344,000 | $66,162 | | 98036 | $400,000 | $44,043 | | 98037 | $374,000 | $63,503 | | 98043 | $266,500 | $57,647 | | 98087 | $379,250 | $61,742 | | 98201 | $230,975 | $55,069 | | 98203 | $294,975 | $47,921 | | 98204 | $219,375 | $59,177 | | 98205 | $320,475 | $58,515 | | 98208 | $347,500 | $75,974 | | 98223 | $322,500 | $69,203 | | 98251 | $278,475 | $53,759 | | 98252 | $229,000 | $43,536 | | 98258 | $318,000 | $66,988 | | 98270 | $317,000 | $52,851 | | 98271 | $252,250 | $54,239 | | 98272 | $310,000 | $60,615 | | 98275 | $622,500 | $81,702 | | 98290 | $346,950 | $82,241 | | 98294 | $317,500 | $46,040 | | 98296 | $408,000 | $64,384 |
Looking at the above stat's and comparing them with an article I read in the Seattle Times (Seattle-area home values by City) that stated the City's with the highest percentage of homes "underwater" http://seattletimes.nwsource.com/flatpages/businesstechnology/seattleareahomevaluesbycity.html?appSession=51766477240305 I noticed that the three City's in Snohomish County with the highest percentage of homes "underwater" are the three zip codes with the lowest median income. My conclusion- home owners that purchased their homes with little or no money down and are stretched in their finances are finding themselves owning more than what they can sell their home for and find themselves being unable to afford the adjusting mortgage or even the original mortgage. Here's my advice- delay the urgency of buying a home with a little or no downpayment and save money!!! Then go out at a highly qualified buyer and purchase a home then!!
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