The Real Deal Newsletter

In this month’s Newsletter we’ll look at the following:

• Snohomish County Market Health Check

• Expert Picks & Hot Links

• Financial Tips & Tricks

• Home Maintenance & Safety Tips

• AI - Artificial Intelligence

• Other fun nuggets

If you don’t currently receive my monthly mailed newsletter, “Front Porch News” and would like to, please email me at [email protected] and I’ll get you added!
Joe Frank - Real Estate Broker | eXp Realty | (425) 501-6901 (text or call)

Snohomish County Market Health Check

The Snohomish County housing market continues to show strong performance, with home prices rising and seller conditions favorable. In June 2024, the average sales price reached $860,000, up from $808,000 in June 2023.

New listings and inventory levels have increased, offering more options for buyers, though the market remains tight. Homes are selling quickly, averaging 12 days on the market, and on average, 1.6% above the listed price.

Anticipated Fed interest rate cuts in September 2024 (and possibly November and December) may enhance buyer affordability and further stimulate market activity.

Read my full blog article for more details and analysis: Snohomish County Real Estate Health, Trends & Insights for June 2024

If you're interested in learning more about our local housing market, getting an accurate value for your home, or any other real estate help, please contact me any time: [email protected] or 425-501-6901 (text or call)

Expert Picks & Hot Links

Stay Informed with the Best Insights Check out these must-read articles and reports from top real estate and financial experts. Perfect for staying ahead of the game.

• Realtor.com: National Housing Trends for July

• Zillow Research: Market Reports

• Federal Reserve Economic Data (FRED): There’s so much interesting data on the FRED site, this particular link will take you to the US population trend since they started tracking in 1948 (to June 2024). US Population Trend

Financial Investing Tips & Tricks

What to Know About Your Credit Score & Buying a Home

Your credit score plays a crucial role in home buying, influencing your purchasing power and the cost of homeownership. Higher credit scores generally mean lower loan costs. The most widely used model is the FICO score, with versions 2, 4, and 5 being used by mortgage lenders. Understanding what impacts your credit score—like payment history and credit utilization—can help you improve it. A good FICO score for conventional mortgages is at least 620, but scores of 740+ offer the best rates. For the full article, check out my blog article here.

✅ Looking to make sure your “financial house” is in order? Here’s a list of Certified Financial Planners in the Snohomish County area (you can also broaden or narrow the search results). If you’re interested in Tax Planning, be sure to gauge a Financial Planner’s familiarity and experience with such.

July Home Maintenance & Safety Tips.

1. Check Your Furnace Filter

Be sure your furnace filter’s up to the task of potential forest fire smoke this summer. If not, consider upgrading to a more capable filter able to pick up airborne containments within forest fire smoke, and ensure the air inside your home stays as safe and clear as possible. A MERV 13 or higher is best according to the EPA. You cany purchase one from Amazon.

2. Protect Your Property From Wildfires

Seemingly forest and brush fires are increasingly occurring on the western side of Washington State (and one would think the frequency / risk will only increase), so it may pay to be prepared and proactive in preventative measures. Depending on where your home (or raw land) is located, you can take proactive steps to protect against wildfires. This pamphlet (.pdf) from FEMA has some best practices to consider. Following are two example recommendations:

• CREATE 30 FEET OF DEFENSIBLE SPACE AROUND YOUR HOME Reduce or remove flammable vegetation, use fewer flammable species, and clear all combustibles from your exterior space. In the defensible space, use noncombustible materials such as gravel, brick, or concrete.

• REGULARLY CLEAN AND REMOVE DEBRIS FROM THE ROOF AND GUTTERS - Debris can catch fire from wind-blown embers. Regular maintenance reduces the likelihood of something catching on fire on top of your home.
  

3. Water Heater Maintenance Tips

• Inspect Regularly: Check for leaks or loose areas.

• Test Pressure Valve: Ensure it’s working properly to gauge the heater's condition.

• Drain Sediment: Periodically drain the heater to remove built-up sediment. Be cautious, as the water can be very hot.

Regular maintenance ensures reliable hot water and prolongs the life of your water heater.

If you need help with any of the above, I work with many great contractors that can assist with any of the above projects. Just drop me a line!

AI - Artificial Intelligence

If you’re invested in a retirement fund or other, it’s likely AI is already involved (with research, market sentiment, analysis, etc). According to Nvidia “…a whopping 91% of financial services firms are either already using AI or are planning to do so as of early 2024.” Read the full US News article here

Other Nuggets

• Upcoming events around Snohomish County

  • Google Calendar

"You are never too old to set another goal or to dream a new dream." — C.S. Lewis

If you or someone you know is seeking expert advice on buying, selling, or understanding the real estate market in Snohomish County or beyond, don't hesitate to get in touch. I'm here to provide the insights and support you need. Reach out to me at [email protected], or call/text at 425-501-6901. Your real estate journey is my priority!

Have we worked together in the past? If so, and you’d like to share your experience with others, please consider leaving me a review on Google. I donate $50 to the Make-A-Wish foundation for each review (positive or negative) - many thanks! 🙏

DISCLAIMER: This content is for educational and entertainment purposes only.

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www.JoeFrankRealtor.com | [email protected] | 425.501.6901
Joe Frank, Real Estate Broker | REALTOR®, PSA, SRES, SFR®, MRP  | eXp Realty