February - Newsletter

FEBRUARY A REAL ESTATE NEWSLETTER

WHEN TO BUY What to know and what to inquire about before buying

MARKET UPDATES Market Updates for Snohomish and King County

GET READY FOR SPRING Tips for arranging your spring garden

NEED A RESERVATION FOR VALENTINES DAY? We got you covered!

Carrie Freeman Real Estate Group

Things to Consider

BEFORE MAKING A HOME PURCHASE Financial Readiness

Home Inspection

Assess your financial situation thoroughly. Consider your budget, credit score, and overall financial health. Ensure that you have a clear understanding of your mortgage options, associated costs, and long-term affordability.

We work with many lenders are happy to help you find one to work closely with through the home buying process.

Prioritize a comprehensive home inspection. This involves assessing the property's structural integrity, systems (such as plumbing and electrical), and overall condition. Identifying any potential issues before purchase can save you from unexpected costs and ensure that you're making an informed decision.

Location and Neighborhood

Future Plans

Evaluate the location and neighborhood where the property is situated. Consider factors such as proximity to work, schools, amenities, safety, and the overall community vibe. Research the neighborhood's trends, development plans, and potential for future property value appreciation. .

Consider your long-term plans and how well the property aligns with them. Whether it's starting a family, changing jobs, or considering the potential for property value appreciation, ensure that your home purchase aligns with your future goals and lifestyle.

UPCOMING EVENTS January 27 - Nate Bargatze : The Be Funny Tour

January 28 - FREE Kid's Running Group - Every Sunday @ 11am, Morgantown Park - Snohomish February 2nd - National Wear Red Day. Wear red to raise awareness about cardiovascular disease and help save lives.

February 14th - Happy Valentines day. Need a last minute reservation? We have you covered. Contact us today.

snohomish County | q4 2023

IT'S A

SELLER'S MARKET VS. BUYER'S MARKET

HOMES SOLD IN

1,672 QUARTER 4| 2023

average SELLING PRICE $780,000 Down .5% FROM Q4 2022

AVERAGE

28 DAYS ON MARKET

AVERAGE

98%

SALES VS LIST PRICE

INTERESTED IN BUYING OR SELLING? LETS CONNECT!

King County | q4 2023

IT'S A

SELLER'S MARKET VS. BUYER'S MARKET

HOMES SOLD IN

3,648 QUARTER 4| 2023

Average SELLING PRICE $1,137,000 Down 5.4% FROM Q4 2022

AVERAGE

31 DAYS ON MARKET

AVERAGE

97%

SALES VS LIST PRICE

INTERESTED IN BUYING OR SELLING? LETS CONNECT!

MARKET OVERVIEW - SNOHOMISH / KING CO. I think I can speak for most people in the real estate industry when I say that we were ecstatic to close the books on Q4 and 2023 as a whole in regards to real estate. Not because home prices changed drastically for the consumer (each of you), but it posed many challenges for buyers, sellers, realtors and lenders. We saw interest rates spike sharply and hit over 8% as the Federal Governments way to try to tame down inflation. This caused many sellers to sit on the sidelines and live in their homes longer than they intended as they refused to walk away from their much lower interest rate on their home. We saw roughly 35% fewer listings hit the market this year and while rates were elevated, it also tampered down buyer demand. This type of activity was unprecedented and was the lowest transactional volume we have ever had on record.

The silver lining that happened in Q4 was in early December, when interest rates dropped over 1% in a matter of a few weeks. This immediately injected life and excitement into the housing market, causing more listings to sell with multiple offers and several buyers entered the housing hunt. With the positive signs coming from the Federal Government about the higher-than-expected probability of avoiding a recession, it appears interest rates will continue to come down, albeit slowly, throughout 2024. Many economists are expecting rates to finish 2024 in the low 6’s and could get down to 6.0%. There is a lot of excitement in the air about the market in 2024 and we are already seeing prices and activity starting to increase. If you have been considering making a real estate decision recently and have been waiting it out, I would highly encourage a personal call with me to discuss if now is the right time to enter the market. Let’s Chat!

Every year, Q4 is one of the busiest times of the year for our office as we have many opportunities to impact our local communities and change many lives for the better.

Each year in October, the Realtor Association takes the whole month to do a Food Drive competition to see which real estate office can raise the most food for their local food banks. Countless hours of volunteering, donations, picking crops at local farms and setting up at local grocery stores throughout the month went into these efforts. It is with great pride to announce that the JLS Snohomish/Arlington offices WON the SCCAR Food Drive and beat out every other real estate office in Snohomish County. We collected over 42,000 POUNDS of food and an additional $2,300 in cash donations. This impacted the food bank so much that they were completely full and asked that we take the remaining food to other city food banks that didn’t have our support!

Other fun events that took place this quarter included hosting community Halloween events at both offices, participating in Arlington’s Hometown Holidays event and continuing our partnership with Housing Hope’s Shoebox Santa event. They were able to help over 280 children receive Christmas gifts for the 2022 holiday season.

This year, JLS Snohomish/Arlington committed to sponsoring 100 CHILDREN in purchasing gifts that each child wanted for Christmas. Nothing makes our hearts happier than being able to impact the community as a whole and individuals within the community like these types of events. We are so fortunate that we have you, our friends and clients, that support us professionally and give us the ability to effect change within our local communities.

COMMUNITY EVENTS Here’s what’s going on in and around Snohomish & Arlington in the months of January, February, & March.

WHAT'S NEW WITH

&

FEBRUARY 1-3 | ARLINGTON EAGLE FESTIVAL | DOWNTOWN ARLINGTON

FEBRUARY 22-25 | SEATTLE HOME & GARDEN SHOW | LUMEN FIELD

MARCH 22 | TOAST TO TOTS SEATTLE CHIILDRENS AUCTION | KIRKLAND

REFRESH YOUR HOME WITH THESE IDEAS AS WELL AS SOME DESIGN TIPS Declutter and Organize Start the year by decluttering your living spaces. Donate or discard items you no longer need, and organize your belongings. Tidying up can create a fresh and open atmosphere in your home.

Design Tip: Add a touch of flair by adding clean white objects, here these items stand out against the built in shelves and the black painted background. A few scattered wood accents give the display texture and depth.

Deep Cleaning Conduct a thorough deep cleaning of your home. This includes cleaning carpets, washing windows, dusting hard-to-reach areas, and scrubbing surfaces. A clean environment not only looks better but also contributes to a healthier living space.

Design Tip: To give rooms a more vibrant and cheerful appearance throughout rainy season, incorporate plants into your decorations.

For a naturally striking accent, pick species with sculptural leaves, like the well-known fiddle leaf fig tree.

Decor Refresh Consider making simple changes to your decor. Swap out throw pillows, add a new rug, or rearrange furniture to create a fresh look.

Layering in textured bedding, rugs, and cushions, you can give your bedroom a quick style makeover.

Set New Habits Use the start of the year to establish new home-related habits. This could include a regular cleaning schedule, implementing a home maintenance checklist, or adopting sustainable practices. Setting these habits early can contribute to a well-maintained and enjoyable living space throughout the year.

Carrie Freeman Real Estate Group

+206-355-6230 carriefreeman@johnlscott.com

Kelsey Garka

+425-210-4044 kelseygarka@johnlscott.com

Real Estate Broker

Need a Valentine’s Day reservation?

We’ve got you covered!

Let us know which reservation you would like to claim!

16Eleven - 1611 Everett Ave - 7:30pm Rare Society - 13223 39th Ave SE Mill Creek - 5:30pm Anthonys Homeport - 1726 W Marine Dr Everett - 8pm Rogers Riverview Bistro - 1011 1st St. Snohomish - 6:30pm

TO CLAIM YOUR RESERVATION PLEASE MESSAGE KELSEYGARKA@JOHNLSCOTT.COM, THE FIRST PERSON TO MESSAGE KELSEY, WITH WHAT RESERVATION THEY WOULD LIKE TO CLAIM WILL GET THE RESERVATION MOVED IN THEIR NAME.

TIPS FOR ARRANGING YOUR SPRING GARDEN PLANNING AHEAD TO FEBRUARY Get rid of the dead trees.

Hopefully, the trees you plant today will last for a very long time.

Don't plant something that you'll regret having done so in the future, such as an unruly silver maple that scatters seeds all over the lawn or a cypress that will someday dwarf your house.

Think about the eventual size, form, and habit when selecting a tree or shrub for your garden. Planting anything with brittle limbs or that is vulnerable to pests and blights should be avoided because tree removal is an expensive and unneeded expense.

Invest in your soil.

Create a compost pile or add bags of composted manure to your soil to add as much organic matter as you can.

It will gain higher fertility, a diverse population of advantageous organisms, and a better texture as a result.

Consider the sunlight in your garden.

There's a good reason for the little "full sun" and "part shade" icons on plant tags: too much sunshine may burn the foliage and jeopardize the health of the plant, while too little will cause it to become lanky and frail.

Pick plants that do well in your environment.

Vegetables, fruit trees, and most flowers thrive in locations that get eight or more hours of direct sunlight per day. Perennials, ferns, and small trees that are naturally found in the forest's understory do best in part to full shade.

Carrie Freeman Real Estate Group

+206-355-6230 carriefreeman@johnlscott.com

Kelsey Garka

+425-210-4044 kelseygarka@johnlscott.com

Real Estate Broker