Waterfront Homes Puget Sound

Just general thoughts on the the direction, conditions, and energy in the local Waterfront Real Estate market. Throwing in a good dose of humor from time to time and a dash of opinion.

Dash Point Home Prices Rising! Which Federal Way Homes are the Most Affordable?

The Seattle times recently ran a story about rising home prices in the Puget Sound where they found that while home prices in general are on the rise across King and Snohomish County, some areas are appreciating much faster than others.

What does this mean for Homeowners or people that would like to own a home in Federal Way?

It means that if you are sitting back and waiting to make your next home purchase, you're already going to pay, on average, about 26.1% more for the average home over what you would have paid last year at this time in Dash Point and Federal Way. It almost seems like you've missed your chance to get a great deal, right?

Wrong!

The story goes on to further discuss the affordability of homes in the region and more specifically in Federal Way. 


"At the end of last year, only 38 percent of homes in the Seattle metro area were affordable for a home shopper earning the median household income of $67,944, assuming a 20 percent down payment and a 30-year fixed-rate mortgage......

About 75 percent of homes in Federal Way’s 98023 ZIP code were considered affordable."
*source: Seattle times

 
This is still great news for someone looking to buy in certain areas of Federal Way. Check out some of these great homes for sale right now for under $250K in Federal Way. And if you have the means to extend a little bit further, there are some really great deals on homes for sale between $400K and $500K in Federal Way. 

(when I say really great deals, I'm talking homes with sweeping views of the sound, there's a 7 bedroom home in that group, many of these homes have awesome fixtures; wood flooring, stainless steel appliances, granite counters, huge closets.......just about everything you want in your dream home in Federal Way!)


What's the Big Lesson for Buyers?

Get off the sidelines! We still haven't reached a point where home prices in Federal Way have risen all the way back to peak numbers from the market we saw five years ago. With home prices remaining affordable in many areas of Federal Way for households with a median income (in 2011, that meant as a household you made $51,687/year), the longer you wait, the less house your money will buy. 

Wondering how much house you can afford right now? Let us help you get an answer!


What Does This All Mean If You Are Thinking about Selling?

get a free home valuationCurrently in Federal Way, there are only 68 homes on the market between $200,000 and $300,000. Many of these homes are getting multiple offers within the first couple of days of hitting the market. We've seen large numbers of first time home buyers coming through open houses that we've hosted on homes in this market and we recently sold one of our listings in this price range in 3 days of the home hitting the market. 

It's a great time to be a seller.....especially one considering trading up to a larger home in Federal Way. Because we still have affordable options available in most price ranges, and we have a large number of buyers looking in lower price ranges, the perfect storm is brewing for people looking to sell their home and trade up to something more accomodating. 

It's a good time in the real estate market in Federal Way, no matter where you sit.......unless it's on the sidelines!

If you'd like an estimate on how much you could sell your Federal Way home for, click that link and we'll get started figuring out how much your home specifically will sell for.

 
 

Follow Me on Twitter   Follow Me on Facebook   Lets get Linkedin   My Outside Blog   Watch my Crazy Movies on YouTube


Ryan Allie
206.366.5303

Anderson Homes & Land
Broker ~ Partner

 

 

0 commentsRyan Allie • May 07 2014 02:37PM
Dash Point Home Prices Rising! Which Federal Way Homes are the Most…
share
The Seattle times recently ran a story about rising home prices in the Puget Sound where they found that while home prices in general are on the rise across King and Snohomish County, some areas are appreciating much faster than others. What does… more
Weyerhaeuser Pacific Rim Bonsai Collection
share
Bonsai Collection The Federal Way constructed the Pacific Rim Bonsai collection and it was opened on 1989 with the participation of the Washington State centennial celebration. Its goal is to promote the outstanding features of bonsai in the… more
Dash Point State Park
share
Dash Point State Park Dash Point State Park is a 398-acre camping park in the Pacific Northwest with 3, 300 feet of saltwater shoreline on Puget Sound. The beach provides unobstructed views of the Sound and lots of opportunities to observe… more
Des Moines Networking Events
share
Networking Event s Are you sick and tired of walking down the streets and finding a new job that is appropriate for you? Are you fond of socializing and chatting with other people whether you’re drunk or not? You need not to be tired anymore… more
Blues and Brews Des Moines
share
Blues and Brews Blues and Brews is celebrated every year in the Des Moines community festivals are alleged in diverse areas. In the Rotary Club of Des Moines, a third annual fest will be held on the 25th of August, it is a Saturday and it is… more
Eggstravaganza Des Moines
share
Eggstravaganza Des Moines Celebrate springtime, celebrate children and celebrate the joy of Easter at Des Moines signature event, Eggstravaganza. During this annual event, a variety of free Easter-related activities are offered in Des Moines… more
Tacoma Farmers Market
share
Tacoma Farmers Market Tacoma Farmers Market celebrates every Thursday from May through October with an exciting array of sights, sounds and smells. Freshly picked fruits and vegetables, handcrafted artisan breads, quality hand-made gifts, toe… more
Federal Way Farmers Market
share
Federal Way Farmers Market Federal Way Farmers Market will open near its original location for the 2012 season. Bringing community together this May to October, every Saturday from 9:00am to 3:00pm at the Commons at Federal Way SW corner parking… more
Burien Farmers Market
share
Burien Farmers Market Burien Farmers Market is united with vendors and they are the proof why the market is successful until this period of time. Each week they have 40-50 vendors and every week is said to be a booming opportunity for the… more
Des Moines Waterfront Farmers Market
share
Des Moines Waterfront Farmers Market Des Moines Waterfront farmers market was created and launched last 2006, on the 18th of June. It is located in Des Moines Marina which is known to be the home of large sailing yachts around the waters… more