Interestingly enough, right now Washington State has some of the lowest closing cost rates in the nation. Freddie Mac Home Price Index for the US shows a 4.8 percent gain in the second quarter. This is the largest quarterly pickup in eight years. Year-to-year, the national index posted a 1 percent increase, the largest annual appreciation since November 2006. Thirty Four states have posted appreciation in homes this past year as well. In King County home prices rose 7.2 percent from last year, and the number of closed home sales in July rose 26% from July sales in 2011.
Mortgage rates have lowered considerably (lower than I ever thought they would go). This past week with a conforming 30 year fixed mortgage rates at 3.625%, a 15 year fixed mortgage rates at 2.99% and 5/1 adjustable mortgage rates at 2.89%, and a 30 year jumbo at 3.75%, 15 year jumbo at 3.24%. We can look forward to mortgage rates moving a little lower in the immediate future, as there is currently little economic news.
Below is a link to an incredible Cape Cod style home on Mercer Island. This home has been completely remodeled, impeccably landscaped, and is an ideal family home. Mercer Island also boasts one of the finest school districts in the state, so if you’re looking for island living minutes away from downtown Seattle, and downtown Bellevue click on the link below.
Now, if I can ever help you, or someone you know with any of your real estate needs in the Bellevue/Eastside area, please call me at 425-761-2772, or CLICK on my Facebook page, and send me a message. I’m happy to help, and will give you the very best representation.
CLICK HERE to find out what your home is worth in today’s market!
You can also CLICK on any of the links below to begin your search of Eastside real estate: