Homeowner Report For Lynnwood, WA: How Much Is YOUR Home Worth?
Sales, Prices, and Predictions… Everything you need to know for the month of April 2022.
To get your personalized home equity evaluation, click here:
https://www.homeproassociates.com/go/home-value-lynnwood/
Spring is here – I hope you are getting a chance to go outside and enjoy the sunny weather when you can. Here in Lynnwood, WA, Median home prices have bumped up by $10,000 to $685,000. Click the link if you’d like to learn how much your home is worth right now.
Transactions: In the city of Lynnwood, the number of closings decreased slightly to 1624 last month – that is a lagging figure slowed by our slower winter selling season. If you’re thinking of selling in Spring – Spring is here now!
“Home sellers on the fence waiting for that perfect moment to sell should start preparations because the best time to list a home in 2022 is approaching quickly. The week of April 10-16 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.”
According to Realtor.com – April is the best month to list your home for sale, so call me if you need help with that.
Yes – Now is the time to get your house ready to go!
Inventory is still low… On average only 58 homes were for sale at any given time. That’s only two-thirds (⅔) of the inventory we had at this time last year. That means it’s very competitive for buyers, with many homes attracting multiple offers if they are marketed correctly. With our A-PLUS home sales system, we help you maximize your profits when you sell.
#2 – According to Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. That means Interest rates increased more in the last 3 months than they did in the prior 8 YEARS! They are now at 4.42% and more rate increases are forecast. This is creating urgency for buyers who are more determined than ever to lock in a house purchase this spring before they get further priced out of the market. That means they are ready to make a strong offer on YOUR home for sale.
NEXT STEPS – YOUR FREE HOME EVALUATION:
I know making a move is a big decision and I can help you get it done. My name is Emily with HomeSmart Real Estate Associates and as a real estate professional, I study home prices every day.
As the market keeps going up, it’s extremely challenging to know how much your home is worth and make a plan to buy your next home. Because of this, I want to make a special offer – only for those who watch this video. I want to give you the opportunity for a custom one-on-one home evaluation. We’ll get together over the phone, on a video conference call, or in person and go through exactly what your home would be worth if you were to sell it now.
Click the link below and you’ll be taken to a page where you’ll tell me about your home and then have the opportunity to schedule a time to connect with me for a custom 1-on-1 home evaluation. Simply click the link below to discover your home’s true potential.
PREDICTIONS:
Now it’s time for…
#3 Emily’s predictions for the Lynnwood housing market in 2022!
Right now is a good time to own a home. As we see rising inflation rates, the dollar is losing value and homes are gaining value.
Being highly leveraged in real estate is a good inflation-hedge strategy. We have seen large national companies buying up property across the country, to keep in their portfolio. Owning property is a major path to wealth in this region and typically, the bigger house you own, the more equity you’ll develop.
Nationally, homeowners have 40x the net worth of renters and almost $300,000 more wealth. That’s probably even higher here in Seattle where real estate prices are so high.
As prices rise, rents are rising. Historical trends show us rents tend to rise faster than inflation, and experts predict rental rates will go up about 7% this year, across the board. So those who spent the last few years renting may be turning into home buyers keeping pressure on inventory and prices in our area.
If you want to sell at a premium, now would be a good time to do so. This is Emily Cressey with HomeSmart Real Estate – thanks so much for joining me and look for our monthly Lynnwood home price predictions right here, next month.
