Tell you what: it's interesting times for Real Estate here in Skagit County.
We all know that interest rates have been on a roller-coaster... as of today, the nationwide average for a 30-yr Fixed is 6.44% Not bad.
Yet, at the same time, the values for single-family homes here in Skagit County have been on a steady rise.
I'll quote from the Everett Herald here, from an article dated August 8, 2006:
"...The combined median price for single-family homes and condos was $334,000 in Snohomish County in July. In Island County, the median was $297,450. The price increases in both counties were among the highest for the month in the Puget Sound area. Only Skagit County, where prices rose 22 percent, was higher."
Well, there you have it. Here in Skagit County, we're looking at a median price in the low to mid $200K range. Yet at the same time, we've had a 22% price increase.
What does this mean for you?
If you're looking to buy: this is a great time. Interest rates have dropped some, and stabilized: this gives you time to look for a home. And there are a lot of homes on the market right now: the tide has decidedly shifted to the Buyer's advantage.
If you're looking to sell: With the low interest rates, the buyer has more "purchase power" to make a bid on the home that they want. With a 22% gain, the current value of your house may well be at the 'high-water' mark for the forseeable future.
Feel free to call my wife Kellie or myself to discuss your options - we're both full-time Realtors. Check our website at http://www.previewhomepro.com We're here to help!