Around the Nation -- Residential Real Estate Update - Washington
By Jeff Adolph
State-by-state
Situated in the Pacific Northwest region of the U.S.A, this state is ranked as the 18th largest by land mass and the 13th largest by population with 6,468,424 people residing in this region.
This states economy relies heavily on electronics, manufacturing of Boeing jets, computer software (Microsoft, Amazon.com, and Nintendo of America), biotechnology, aluminum production and lumber products.
There is no income tax in this state on wages or salaries, however this state does have a 6.5% sales tax. Residential property is assessed at 100% of fair and true market value and tax is collected at a state level.
Capitol Hill
Homes are typically sitting on the market for 60-90 days in this region with the median home price hovering around $650,000. The market trend in this area is said to be up by 0-5% with repeat buyers and population growth attributing to sales levels, and buyers are getting 95-100% of their asking price.
LGBT Real Estate Facts: There are approximately 15,900 same-sex couples residing in Washington making this region the 12th gayest state in America. The gayest zip codes in this locality are 98122 First Hill/ Capitol Hill/ Madrona, Seattle; 98102 Volunteer Park, Seattle; 98103 Meridian/ Green Lake/ Greenwood, Seattle; 98112 Broadmoor/ Montlake, Seattle; 98115 Hawthorne Hills/ Wedgewood, Seattle. -- gaydemographics.com
Main Story Source: House Hunt (2008) Real Estate Market Trends; available online at http://www.househunt.com
Picture Source: wikipedia.org
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