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Old 11-02-2007, 12:42 PM
 
11 posts, read 30,567 times
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Our family is moving to the Mount Vernon area next summer from the midwest. We are originally from the Seattle/Everett area, so we are fairly familiar with the area and don't have a ton of questions. Our biggest one is, can anyone tell me what the current real estate market is like in the Skagit Valley area? Are prices increasing still, or have they leveled out? At what rate? Is it a sellers or buyers market? Are there areas around Mt. Vernon that have a stronger market/more demand than others?

We are trying to decide between renting a home while we build a house, or buying a home and staying there for a couple of years while we look around for the right property to build on. If the market is appreciating strongly, then buying even for a couple of years make sense instead of putting the money into rent.

We also have school aged kids, so any help on the Skagit area schools would be appreciated.
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Old 11-05-2007, 11:59 PM
 
Location: Mount Vernon, WA
255 posts, read 835,184 times
Reputation: 147
detroitmama, hi there: As you can see, I live in Mount Vernon. I don't get to the forum very much now but I was really happy to see your post and see that your family is going to be moving to Mount Vernon next year. That is so exciting. You must be really glad to be moving "home" to Washington state. It is such a great part of the Pacific Northwest to be moving to. We've lived all over the world and this is one of the nicest places that we've ever lived.

You have a few questions so I'll try to answer them here but if you would like to send me a private email I can be a lot more specific there. People on this forum may not be interested in the nitty gritty of Mount Vernon real estate.

So here goes: as in the rest of Washington, and the rest of the country for that matter, we have moved from a Sellers' market to a Buyers' market in 2007. The market is strong here as home appreciation continues to out-perform the rest of the nation with year-to-year price increases every quarter since the spring of 1995. The market is stable. Home prices in Washington have increased an average of 8.1 percent since the same time last year. In Skagit in particular, prices are levelling out. In this market, we no longer see the multiple offer situations as in the past couple of years as the market returns to a more normal position.

There are plenty of homes on the market but there are also plenty of buyers. Homes tend to be on the market for a longer period of time, however, at the present time they are on the market approximately 116 days on average. I did a quick search on the MLS and there are 1200 homes for sale in Skagit.

As for whether other towns around Mount Vernon that might have a stronger market, just consider that right now there are 1 in 6 homes pending in Skagit but 1 in 10 in Whatcom (Bellingham) County. Skagit definitely has a brighter star.

And consider that prices are affordable, interest rates are still low - it's a great time to be buying! You also mentioned building a home and that is definitely a possibility. Good land tends to be very expensive (over $100,000) minus the infrastructure. Lower priced property is hard to find (not impossible - it just takes longer and jumping on it when it appears) and tends to get bought up by builders whose livelihood depends on finding affordable property. I'm looking for some property for a client right now here in Skagit so I'm on top of this whole issue.

As for school information, here is the link for the Mount Vernon School District:

MVSD - Mount Vernon School District

I don't know what ages your children are so I can't address that specifically. But depending on where you live, will determine which school your children will attend (of course). There are 6 Elementary schools, 2 middle schools and 1 high school.

Hope all of this was helpful to you. If you have any more questions, I'd be happy to answer them for you. Or find out someone who does know if I don't have the answer. And welcome back in anticipation!
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