Friday, June 27, 2008

Renting versus Buying

Do you realize how good our local economy is? We have the lowest rental vacancy rate in 3 years and rent rates have risen 7.8% in one year. In the greater Puget Sound area during the first four months of 2008, there were 7400 new jobs. You are probably aware that builders are having a difficult time selling their inventory and as a result there has been a substantial decrease in building permits issued. New construction sales are down 49% compared to last year.The inventory of homes for sale has increased by 10%. So where are you buyers?? First time buyers are paying more in rent, while the cost of a home to purchase has decreased. Seems like a smart time to search for your own home!

And those of you who want to sell your house and buy another, why are you waiting!? You might be thinking that you won't get as much for your house than you might get in the future. Of course! BUT you will also be paying less for your new home! Good deals are out there. Don't be scared off by our media! They like to quote NATIONAL statistics. Places like Sacramento and Las Vegas don't represent our housing market.

NOW IS STILL A GOOD TIME TO BUY OR SELL!! Need more convincing?? Give me a call at (425)890-0124 and let's talk.


Adamgv said...

Very good blog. I wish you much success.

Sandy Young, Coldwell Banker Bain said...

Thanks for your comment, Adam! If you need any real estate help, let me know! And if you live out of the greater Seattle area and are looking to make a move, I can refer you to a good agent in your area. Thanks again.