The Real Deal Newsletter for May

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

• Market Health Check

• Snohomish County Price Trends

• How Long Are Homes Sticking Around?

• Looking Ahead: Market Predictions

• 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)

Market Health Check

What’s Up with the Snohomish County Real Estate Market? Snohomish County’s real estate market is looking pretty solid. We’ve got steady growth and some interesting trends to share. Dive in to see what’s happening in your neighborhood.

Quick Stats:

• Median Home Prices: $650,000 – up 5% from last year!

• Homes Sold Last Month: 1,200.

• Inventory Levels: 3 months of supply – still a seller’s market!

Snohomish County Price Trends

Where Are Prices Headed? Curious about home prices? They’re on the rise! Find out which areas are the hottest and what’s driving the changes. Spoiler: Lynnwood, Everett, and Bothell are the places to watch (or perhaps avoid if you’re looking to purchase).

Recent Data:

• Price Boost: An 8% rise in the last six months.

• Hot Neighborhoods: Lynnwood, Everett, Bothell.

How Long Are Homes Sticking Around?

Days on Market & Inventory Insights How fast are homes selling? And what’s the deal with inventory?

Current Metrics:

• Average Days on Market: 21 days (down from 28 days last quarter).

• Inventory: Active listings down by 10% from last year.

Looking Ahead: Market Predictions

What’s Next? What’s coming up for the Snohomish County and national housing markets? I’m no fortune teller, but here’s my take on where things might go based on interest rate changes and mortgage trends.

Market Predictions:

• Interest Rates: Likely staying stable with a possible slight drop over the next 6 months.

• Mortgage Rates: Expect some fluctuations but nothing too crazy.

• Local Snohomish County Market: Continued growth, but at a slower pace as we move out of the busier spring season and into summer, fall, and winter (which is better for buyers as prices historically flatten or reduce, AND there’s more potential for negotiating a lower price).

• National Market: Moderate growth with regional differences - which can vary significantly. If you’re looking to buy or sell outside of Washington state, and want to learn more, I can connect with a great agent in my network.

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: May Housing Market Report (video)

• Zillow Research: Market Reports

• Federal Reserve Economic Data (FRED): Is ice cream seasonal? 
  If you like data, check out FRED. The site and data can be a bit dry, but if you love trends and and want to better understand the economic situation as it relates to past data, and where we may headed, this site is for you! Grab a cup of coffee first! 😁 

Financial Investing Tips & Tricks

Automate Your Savings

Many people focus on budgeting and spending but overlook the power of automating their savings. Setting up automatic transfers from your checking account to your savings account to ensure you consistently save or invest money without having to think about it.

Why It’s Effective:

• Consistency: Automatic transfers make saving a regular habit, reducing the temptation to skip a month.

• Out of Sight, Out of Mind: When the money is automatically moved, you're less likely to miss it or spend it impulsively.

• Goal Achievement: You can set specific savings goals (emergency fund, vacation, new car) and track your progress more easily.

How to Get Started:

1. Set Up an Automatic Transfer: Most banks allow you to set up recurring transfers between accounts. Decide on an amount and frequency that works for you (e.g., $50 every payday).

2. Use Different Accounts for Different Goals: Consider opening multiple savings accounts for different purposes (emergency fund, travel, home improvements) to keep your goals organized and motivated.

3. Increase Over Time: Periodically review and increase your automatic transfer amount as your income grows or when you pay off debts.

Bonus Tip: Take advantage of high-yield savings accounts or certificates of deposit (CDs) to earn more interest on your savings.

Automating your savings is a simple yet powerful strategy to build financial security and reach your financial goals with minimal effort.

This same logic can also be applied to your 401K, IRA, Brokerage/Stock or Coinbase/Crypto account! The power of automation + compounding is amazing, and so important.

✅ 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.

May Home Maintenance & Safety Tips.

1. Pressure Wash Exterior Surfaces

Give your home’s exterior, deck, patio, and walkways a good cleaning with a pressure washer. This helps remove grime, mold, and mildew that can build up over the damp winter months.
Tip: Be careful with the pressure setting to avoid damaging surfaces. Start with a lower setting and work your way up if needed.

2. Check Sprinkler System

Test your sprinkler system to ensure it’s working properly and efficiently. Check for leaks, broken sprinkler heads, and adjust the spray patterns to avoid water wastage.
Tip: Set your sprinkler system to water in the early morning to reduce evaporation and promote deep root growth.

3. Service Outdoor Lighting

Inspect all outdoor lighting fixtures, replace any burnt-out bulbs, and clean the fixtures to ensure proper illumination. Well-lit exteriors enhance safety and security.
Tip: Consider switching to energy-efficient LED bulbs that have a longer lifespan and lower energy consumption.

4. Inspect and Maintain Exterior Paint

Check your home’s exterior paint for any signs of peeling, cracking, or fading. Repainting your home not only boosts its curb appeal but also protects the siding from the elements. You can also contact an exterior home painter and they can help assess if a home needs to be painted, or can go longer.
Tip: Touch up small areas as needed or consider a full repaint if the damage is extensive. Choose a high-quality exterior paint that is suitable for the local climate to ensure long-lasting protection.

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

AI Surpassing Human Performance in Basic Tasks
A major report recently highlighted that AI is now outperforming humans in various basic tasks. This development calls for new benchmarks to assess AI's capabilities effectively. From diagnosing diseases to customer service, AI's efficiency is rapidly increasing, setting new standards in numerous fields​ 
(Nature)​​ (NVIDIA Blog)​.

Generative AI Transforming Film and Media
Generative AI is making waves in the film industry. Companies like Runway and NVIDIA are pioneering tools that allow for high-quality, AI-generated video and special effects. This technology is being adopted by major studios like Paramount and Disney to enhance production pipelines and even create deepfake technology for marketing and training purposes​ 
(MIT Technology Review)​.

Other Nuggets

• Upcoming events around Snohomish County

  • Google Calendar

“Optimism is a happiness magnet. If you stay positive good things and good people will be drawn to you.” — Mary Lou Retton, Gymnast

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 - 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