Long-term appreciation among best in country for Seattle-Bellevue-Everett real estate

The Puget Sound region continues to show it's strength for long-term real estate appreciation. Over a five year period, FHFA statistics ranks the Seattle-Bellevue-Everett area #2 amongst the top 25 metropolitan areas in the country (based on population). Over an eighteen year period, only regions in New York and Denver surpass the Seattle areas #4 ranking for retaining property value.

These long term gains become more impressive given that the Seattle area real estate prices lost nearly 12% over the last year (ranks 20th) and close to 3% since the second quarter of 2009 (also ranks 20th). These statistics suggest that the Puget Sound area is settling close to it's long term real estate values and now could be the best time to jump in the market.

The current tax credits offered by the Federal Government can protect against slight dips in appreciation as this area finds it's equilibrium. Using a $250,000 home as an example, the $6,500 tax credit for repeat home buyers represents a 2.6% hedge against further depreciation. A first time home buyer credit calculates to 3.2%. Combining these tax credits with historically low interest rates creates a pretty good argument for those considering a home purchase to get in the game!

~ Courtesy of The Talon Group - Escrow & Title Services