I think we are all on the same page in regards to rising home values over the last few years. But what most people aren’t considering is that rising salaries (income) are not necessarily keeping up with the pace, and it’s beginning to present an affordability problem.
This week I explain some data that will help you better understand the correlation between median income and median home values relative to King County and Snohomish County. More so, I show you exactly what a $110,000 annual income means in today’s housing market.
Here’s what you need to know in 3-minutes or less. Welcome to my Making Cents of the Markets, Episode #7 of 2018:
What Does A $110k Annual Income Buy In Seattle:
Snohomish County Income/Housing Data
King Income/Housing Data
Here you will not find (on paper) the same disconnect between the year over year increase in median income vs. median home value. But, due to the high paying jobs (tech) in Seattle/Bellevue, the median figures are skewed… The average person in King County “qualifies for” for $380k purchase…
Buying Power of the Median County Income vs $110k/year Income
Here is the link – What $110k/year Buys In Seattle
(may need to download free app if viewing report from a mobile device)
The Perfect Loan Process w/ Dan Keller
When we sit down and discuss your pre-approval, budget, goals, and next steps in the home buying process, this slide deck will be the outline for our meeting. Take a look at this slide deck to see how I help educate my clients to be informed home buyers in today’s competitive and fast-moving markets!
Get Pre-Approved With Dan Keller
We make it easy. I encourage each of my clients to reach out to me initially through email or a phone call to have an initial mortgage planning discussion surrounding your current situation, goals, and timeline. There are so many additional factors that go into qualifying for a home loan today, and it’s important that you are working with a professional that is focused on helping you achieve your financial goals, and also, someone who understands the ins and outs of the process and current market trends.
To apply for a home loan, visit my Mortgage Concierge Page and follow steps one and two.
I Want To Be Your Mortgage Advisor!
I LOVE connecting with my social media followers and subscribers on my blog! You are the reason I produce this content and share it weekly on my Making Cents of the Markets Show and on Seattle Real Estate Radio 1300am. I can always be reached directly at 425-350-7136 or via email at firstname.lastname@example.org
If you found this information valuable, please share it with someone it may help! If you are a real estate broker and would like information like this to be shared at your next office meeting, please contact my office to schedule me at your next office meeting!
More Info On Our Next Home Buyer Class – Home Buying 101 Mixer
Get Pre-Approved With Dan – Apply Now
Monthly Budget With Dan Class – www.BudgetWithDan.com
Download My Mortgage Planning Guide – Dan Keller’s Mortgage Planning Guide
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