You have one of the elements that will help keep the value of your home - a view. Additionally, it is in the Bowl, which is an extremely desirable area. You haven't mentioned the price, which makes it a bit more difficult to give you the best advice. I don't think it would hurt anything to keep the home another year - we are hoping things will improve here towards the end of the year and 2009.

Next Spring. If you have been following the news on the housing market, this is a BUYER's MARKET. The market is extremely sensative to pricing. If you have the time - wait.

I am telling all potential sellers of mine to wait to sell if you can. You hear all the time that the market is a buyer's market...so on the opposite end...that means it is not a seller's market. Who knows what the market will be like in a year but at the worst case it will likely simply hold steady. However, don't be discouraged if you do decide to move now...just price your home well, work with an agent who will properly market and work hard to sell your home....and it will sell. Don't get greedy and have realistic expectations and you will be fine no matter what you decide to do.

Good luck on whenever you end up selling!

Hi Carol,

If you would like to stay in the North West one more year you definitely should! I know you have heard at least some of the media and its negative connotations on the housing market around the nation. Well despite all the negative media the housing market in the North West actually went up .4% in the last quarter of 2007.

Another reason you don't need to worry about your property falling in value is because Seattle and the Seattle Area is a 4 major 2 minor area. What this means is that there are 4 Major businesses and 2 minor ones that support the North West.

Major
1. Aero-Space (Boeing)
2. Micro-Technology (Microsoft)
3. Bio-Tech
4. Medical (Swedish, Virginia Mason, Harbor View)

Minor
1. Agriculture
2. Military

With these juggernauts anchored in Seattle it will almost guarantee that the home values in the Seattle area will not fall but rather increase. I just read an article the other day that we are very close to becoming a "Super-Star City" joining the cities of Honolulu, Los Angles, San Francisco, & New York City. So basically what I am saying is that if you would like to spend one more year in the Beautiful North West I recommend that you do so! Being in Edmonds, in the bowl, and with a view only makes your property that much more valuable and almost impossible for your property to loose any value over the next year. I'll even go out on a limb and say that it will increase in value by at least 8%.

I hope some of this info was of help and that you would be comfortable staying here for one more year!

My mom (Connie Kopp) and I are Edmonds #1 Mother & Son Real Estate team and that is our website listed below in the web references. Take care and please feel free to E-mail/call either one of us with any further questions!

Hi my name is Matthew I’m a Realtor in the Edmonds area.

I think it may be better to sell now given the two different market places, and we do not know where the market will be in a year.

Here is a good article you to consider:
http://homebuying.about.com/od/buyingahome/qt/Waittobuy.htm

As far as the market go’s in the Edmonds area we are seeing a definite slowdown in the market over last year but the homes that have views and or have water frontage are still selling quite well.
If you have any questions feel free to give me a call at any time.

Best regards,

P.S. it may be good to get idea of your homes value and see what you can buy in Florida. I can help you with it if you would like.

Matthew L. DeFreece
Windermere Real Estate/North, Inc.
425-750-8244
mdefreece@windermere.com

Be sure to check out my website: matthewdefreece.com
Where you can search for Homes throughout the Pacific
Northwest, and all down the West Coast!

Finer Real Estate -- Impeccable Service
And whatsoever ye do, do it heartily, as to the Lord…..

HI Carol - Although I don't have a crystal ball either, if it were me, I would stay put. It is cheaper over the next year to have the home ownership benefits and also more convenient rather than uprooting yourself and your family.

The market has definitely gotten trickier, but houses are selling and will continue to do so. I just sold a house in Edmonds not too long ago and towards the end of negotiations we were even in a multiple offer situation! Edmonds is a great selling area and if you have any kind of a decent view of the Sound there, then your value is protected even more.

Moving is difficult and you are lucky enough to be in an area that has a strong market. Demand for Edmonds homes won't disappear.

Good luck! That is a long way to move!

Carol,

First off let me say that real estate has always been the safest investment. Simply put, try and take out a loan at 6% on stocks or some other form of investment.

Now that being said, if you wish to stay in the Seattle area another year then it is likely you will come out on top. No one agent has a crystal ball but here are a couple things to stop and consider. First off, the trend has often been that real estate has difficult years the year of a presidential election. This is not ALWAYS the case but it tends to be a general rule. On the other side, the year after the elections we see an increase in the real estate market.

Next, if you look at this March compared to last March prices have increased approximately 7% - 8%. Last year by July there was about a 12% increase with about a 4%+ decrease in the second half of the year. Again this depends on your specific area but it is a good 'general' rule for the areas here. So far this year, we have again started to see a pretty steady market. Some people have had to reduce there prices but that is generally because they were over priced to begin with. As for Edmonds, I think you are safe to keep it for another year. Even the news is starting to see a shift for the better in the market. (well most of the time anyways). I would stick it out if I had the choice.

On the other side of things...home prices (from what I understand) are incredible in florida compared to the past. I can't even begin to estimate what will happen to the market down there. But this very well should also be part of your decision.

If you could buy down there now and keep it as a second home until you sell your home up here, then you may even come out more on top. You could also keep your home up here as a rental once you move. Higher a property management company and make some money off your investment up here until you feel you have made more then enough on the home here.

Hope this all makes since and helps. It is hard to predict the future. The best we can do is share with you what the trends have shown in the past.

Best Wishes!

Carol,
There are a few things that come to mind. 1. the right time to sell is when it is right for you - if you would love to stay in the area 1 more year, then do it, and 2. the "falling home values" is one of those blanket statements that is not necessarily true. I know that there is a lot of national media news and reports right now that make it seem like the real estate industry is doomed, however, we are weathering this real estate "storm" very well -- your home value will still appreciate because of the location. The Seattle area has a strong economy with lots of great jobs and because of that home values will remain strong in the area. However, after saying that, many people feel the same thing that you've expressed and many buyer's are on the fence, some are not, but the biggest thing that I need to do as a Realtor right now is educate my clients about what is really going on in the market, so it may be a good thing to wait (because you want to) and because it will give the buyer's a chance to get off the fence :) I do notice that the market is picking up. Interest rates are a roller coaster ride right now, so when they go back down a bit this may bring more people out to look at some great homes!

So, keep maintaining your home so that when the time is right your home is perfect and appeals to as many approved buyer's as possible.

Good luck! Feel free to send me further questions at "Juliehall@windermere.com" I'd love to help you when it's right.

Hi Carol -
I am an agent in the Windermere North office and live in Edmonds. The best answer is to have a realtor do a complete market analysis for you that shows what the market for your home ... based on price, square footage, updating etc. What is the current competition for your home? I listed a rambler last fall in Edmonds that received great traffic and sold two days before Thanksgiving – which was a horrible time. Along with the market analysis ask for a “trend analysis” for your area and price range. That will show how many months supply (absorption rate) and what the average price per square foot is now VS last summer or a year ago.
Having a year to watch the market is a luxury most sellers do not have. It gives you the flexibility to have your house prepared for the perfect time – when there is scarcity for your price point. If you have a relationship with an agent who is watching the market they can advise you to act quickly and list your home. Sometimes timing is worth an extra 10%.
Best of luck! Karin