Intrust Funding, the leading hard money lender in Western Washington, is bringing you the latest market updates:
It’s an ideal time for investors to take advantage of the many opportunities out there to invest in cash flow or flips. There has been a noticeable change in average days on market over the course of the year. According to the NW MLS statistics, average days on market has fallen 43% in King County between March ’12 and March ’13, 42% in Snohomish County and 13% in Pierce County.
That’s great news for investors that utilize hard money lending to purchase real estate investments. In this month’s market report, you can view two examples of “days on market” for recent properties funded by Intrust Funding. The properties funded by Intrust Funding generally sell within the first two weeks, in part due to the low inventory and high demand for updated properties.
Average closed sale prices are also up throughout Western Washington. The greatest increase is shown in King County, where the average closed sale price on residential listings increased from $406,627 to $472,595 between March ’12 and March ’13 for a +16% increase year to date. In Snohomish County, prices were up 14%, with the average closed sale price changing from $267,023 to $304,820. In Pierce County, the average closed sale price increased 11% from $198,528 to $220,781. Take a look at the numbers in our March 2012 vs. March 2013 Market Update.
If you want to learn more about how to purchase flips and cash flow properties, we have created a free Flip & Cash Flow class taught by Co-Founders Will Heaton & James Dainard, who have successfully invested in hundreds of properties in Washington. We have a few spots left for our Monday, April 22nd class at 6:30 PM in our Bellevue office. You’ll have the opportunity to meet with our buyer’s agents and discuss available investment opportunities. We look forward to seeing you there!
Please email firstname.lastname@example.org to RSVP today!
Want to be approved for a hard money loan today?