Hi John,

Thank you for your question.

The first thing a buyer must do is interview 2 or 3 different reputable lenders, choose the best one that fits your needs and fill out your loan application to get pre-approved.  To be in a good, strong position as a buyer, you need to have a lender's underwriter approve you as a borrower.  That way you will know what kind of financing you will use and how much you can afford to spend.

That was a very good question.  Just so you know, I represent buyers and could recommend some good reputable lenders if you need them.

Hi Sara,

Thank you for your question.  I think prices in Bothell have leveled off since last summer.  According to the NWMLS there are currently 595 homes with a Bothell address.  They range in price from $180,000 to $2,500,000.  The average time on the market is 69 days.  A few things to remember about statistics: they are very general;  do not take into account the location, size of lot;  proximity to town, bus, and other conveniences; or the condition of the property.  That's where you need the expert advice of a local Realtor.  I do not see prices dropping in the near future.  I'll give you an example:  My home is a modest rambler in Bothell.  I believe if I had put it on the market in January of last year, I could have sold it for around $410,000.  There has since been some new construction in our area selling a rambler for $406,000.  Considering a buyer could have all new with some customization of their own, why would they consider my 70's rambler that is nicely updated for more?  I think I would have to re-adjust my thinking to around $390,000.

I hope this helps.  Thank you for your question.