Washington Unit Lot Subdivision vs. Condominium Overview

Single-family lots in Washington have had their value and potential explode in the last few years. Recent legislative changes (SB 5258 and 5559) have transformed the opportunity that comes with owning a suburban lot. The days of a single home being the highest and best use for many parcels are over.

This video with leading land use attorney Terry Wilson provides a crucial breakdown of the Unit Lot Subdivision (ULS) mechanism. It is a powerful tool that makes turning a single lot into a high-density, multi-unit investment. For decades, traditional subdivision was the only way to divide a property, but it was restrictive, requiring each new lot to meet minimum size requirements (e.g., 5,000 sq. ft.)

ULS flips the script by allowing you to build first, then divide:

1. Develop the Parent Parcel: You submit one building plan for the entire lot, which can now include multiple units (duplex, triplex, quadplex, or cottage housing), regardless of the old minimum lot size.

2. Create Ownership Lines: The ULS process then sits on top of that building plan, creating individual Unit Lots for ownership purposes only. These "lots" do not need to meet the old minimum lot size or setback rules, allowing you to sell each unit separately with its own tax parcel.

Unit Lot Subdivision vs. Condomization

Feature	Unit Lot Subdivision (USL)	Condominium
Process	Municipal review (City/County)	Private Process (Attorney)
Speed	Can be lengthy (6 months to a year)	Generally much quicker (1 to 2 months)
Ownership	Creates “unit lots”	Creates “condominium units”
Key Similarity	Both are based on the building plan of the original parent parcel

The Bottom Line for Clients: While ULS may be perceived as more "legitimate" by some buyers because of its municipal review, the condominium route is often the fastest and most efficient way. It quickly turns your finished construction project into sellable, separate units, reducing carrying costs and time to market.

This allows to maximize density and get the highest and best use out of your property. It also creates larger units unlike ADUs providing a more interesting opportunity for many buyers.

Our Take:

The zoning changes in the past few years in WA State are unprecedented on many levels in an effort to dramatically increase the amount of housing availability and assist with the affordability issues that have plagued the State in recent years.

These changes come with pros and cons, but one thing is for certain, the landscape has changed and those that are aware of how to maximize their own property (or others) have an opportunity that we've never seen.

For more information on investing in Snohomish County Real Estate, consider talking to an Everett based Commercial Real Estate Brokerage.

Our Office:

Weitz Commercial 
2716 Colby Ave
Everett, WA 98258 
Scott@Weitzcommercial.com
Nathan@Weitzcommercial.com
T: (206) 306-4034

National Apartment data shows warning signs

National apartment rents dropped again in November, marking yet another month of decline amid swelling vacancy rates.

According to the latest data, the median rent nationwide fell by 1.0% in November — the fourth straight monthly decrease.

At the same time, vacancies have surged to record highs of 7.2%, signaling a market shift from landlord-favoring to renter-favoring dynamics. Rental Housing Journal

What’s Driving the Decline?

• The steady drop in rents is largely a reaction to oversupply — many more units are available than there are tenants seeking them.

• This oversupply is translating into more aggressive rent concessions and downward pressure on pricing, as landlords compete to fill their units.

• For renters, this means greater negotiating power and the potential for deals not seen in several years.

Weitz Take: 

As rents fall and vacancies rise nationally, similar pressure may emerge in suburban and regional markets — including those in and around Snohomish County. For landlords and investors this could mean longer vacancy periods and downward rent adjustments. For renters (especially those relocating or upgrading), it could be a good time to find favorable lease terms or negotiate lower rates.

For real-estate professionals and property investors —  this trend may signal caution. It might be time to reassess rental-value assumptions, pro forma cash flows, or underwriting criteria for new acquisitions or developments.

I have to say - while Real Estate is certainly 'local' and I'm certainly not following each city / area closely, there are major reasons to be concerned of the current state of the real estate economy. This isn't a political statement and frankly, I wish it wasn't the case, but even as someone who has predicted this would be coming for months.....I didn't see the AI boom and underlying job losses that would accompany it (the government still hasn't released the October Jobs report - which simply can't be a good thing).... Every company I know is getting lean, and delinquencies from credit cards to auto loans to home foreclosures are all starting to rise significantly. While I really like certain geographical areas, certain value add opportunities or zoning situations, there is very little to be optimistic about with recent real estate news. From commercial to residential to multi-family, there simply aren't many bright spots. Even as someone who predicted this (and still feel often times alone in this opinion as of today), the data is simply so obvious that a negative cycle is beginning in my eyes.....I believe we are entering a major correction and I would plan accordingly as investor. If you are significantly leveraged, or own many properties, I would diversify as best you can (ie. Move to cash or even other hard assets/ currencies). While I do see some opportunities out there still, I simply can't suggest the overall asset class of real estate until the underlying fundamentals start to look better....hopefully, I'd dead wrong, but I'll always give my honest opinion and try to back it up with updates and data from local and national sources...stay tuned...I think we are in for an interesting ride. 

Chapter V Bankruptcy: What is it?

 I recently came across a new concept that took me a little off guard - a new Chapter V bankruptcy. When I first starting practicing law, I focused on distressed real estate which naturally led to a lot of bankruptcy discussions and a fair amount of Ch. 7 and Ch. 13 filings. Admittedly, I hated the process to be honest as it was frankly depressing and many clients were incredibly either down on their luck or disorganized (or both). That said, I learned a lot and always felt like I had a fairly good handle on the Bankruptcy code this was a bit surprising. With that said, I thought it was interesting an worthy of a blog post for those that deal in the business, debt and real estate world. 

And no...don't call me to file them (lol), but happy to give you some referrals if needed. 

Scott Weitz

_________________________

A Chapter V bankruptcy usually refers to Subchapter V of Chapter 11 of the U.S. Bankruptcy Code — a streamlined reorganization process designed specifically for small businesses.

Here’s a clear breakdown of the basics:

What is Subchapter V (Chapter V) Bankruptcy?

Subchapter V is a special subsection of Chapter 11 that Congress added in 2019 under the Small Business Reorganization Act (SBRA).
It is intended to make Chapter 11 faster, cheaper, and easier for small businesses to reorganize rather than liquidate.

Who Can File?

A “small business debtor” with non-contingent debt of roughly $7.5 million or less (this limit has been extended periodically by Congress).
Both individuals and companies can qualify if the debt is primarily business-related. I believe the amount has or will be reduced to $3 Million.

Key Features

1. Faster process
Subchapter V cases move quickly — typically confirmed in 90 days unless the court extends.

2. No creditor committee
This avoids substantial fees and complexity.

3. No competing plans
Only the debtor may file a reorganization plan. Creditors cannot propose their own.

4. No absolute priority rule
Owners can often keep their business without having to fully pay unsecured creditors, which is not allowed in traditional Chapter 11.

5. Subchapter V trustee
A trustee is appointed but acts more like an overseer/mediator, not someone who takes over the business.

6. Reduced administrative costs
Filing fees, reporting duties, and attorney requirements are lighter than in full Chapter 11.

Why Businesses Use It

Subchapter V is popular because it allows small businesses to:

• restructure debt
• renegotiate leases
• reduce or stretch repayment obligations
• keep operating
• avoid liquidation under Chapter 7

It’s essentially Chapter 11 “lite”, tailored to small-business survival.

For more information on distressed real estate investments or procedures, my email is Scott@WeitzCommercial.com. 

C: 206.306.4034 - please text first

Which Liens Survive a County Tax Foreclosure in Washington State?

 Which Liens Survive a County Tax Foreclosure in Washington State?

With many of the Washington Tax Foreclosures coming soon, we thought we would do a little blog liens that survive a tax foreclosure in Washington State (this is informational only and not legal advice - please consult your attorney if you wish to purchase at an auction). 

When a property goes through a county tax foreclosure in Washington, most people assume the foreclosure wipes out all liens. But that’s not the whole story. While many liens are cleared, several important categories survive the tax sale — and buyers need to know exactly what they may still be responsible for.

Below is a clear breakdown of which liens are wiped out and which continue to encumber the property after foreclosure.

Liens That Survive a County Tax Foreclosure

1. Federal IRS Tax Liens (When Not Properly Noticed)

A tax foreclosure does not automatically extinguish federal tax liens. Under federal law (26 U.S.C. § 7425):

• The county must send proper written notice to the IRS.

• If the IRS doesn’t receive lawful notice, the lien survives the sale.

• Even if extinguished, the IRS gets 120 days to redeem the property after the sale.

This is one of the most common lingering liens encountered after tax sales.

2. Utility Liens (Water, Sewer, Stormwater)

Many municipal utility charges in Washington run with the land, not the owner. These are statutory super-priority liens created under RCW 35.21, RCW 35.67, RCW 36.94, and related laws.

These can include unpaid:

• Water bills

• Sewer charges

• Storm drainage fees

• Irrigation district assessments

Because they are statutory liens, they are not wiped out by a general tax foreclosure.

3. Local Improvement District (LID / ULID) Assessments

Local Improvement District and Utility Local Improvement District assessments remain attached to the property unless:

• The foreclosure itself was based on the LID delinquency.

If the tax foreclosure was for general property taxes, the LID/ULID assessments survive and remain due after the sale.

These assessments can be significant and often surprise investors who expected a “clean slate.”

4. Environmental Liens (State and Federal)

Environmental cleanup obligations are another category of liens that do not get extinguished. These include:

• Washington MTCA (Model Toxics Control Act) liens

• EPA CERCLA Superfund liens

• Hazardous waste cleanup obligations

Environmental liabilities are considered super-priority and remain attached to the land regardless of ownership changes.

5. Certain Government Fines and Municipal Assessments

Some government-imposed obligations are not traditional liens but still survive foreclosure if the authorizing statute states that the charge runs with the land.

These may include:

• Nuisance abatement costs

• Weed or brush clearing charges

• Building code enforcement assessments

• Solid waste cleanup charges

• Health department orders

If the law says the obligation attaches to the property, then tax foreclosure does not remove it.

Liens That Are Usually Wiped Out

While several liens survive, most private liens do not. A Washington tax foreclosure generally removes:

• Mortgages and deeds of trust

• Judgment liens

• Mechanic’s/construction liens

• HOA liens (for amounts owed before the sale)

• Lis pendens (other than condemnation actions)

These lienholders typically lose their security interest entirely once the county completes the foreclosure process.

Bottom Line

A county tax foreclosure in Washington is not a clean-slate event. While many liens are extinguished, several major categories — including federal tax liens (under certain conditions), utility liens, LID/ULID assessments, environmental liens, and some municipal assessments — can remain attached to the property.

Anyone buying at a tax foreclosure sale should perform careful due diligence to determine:

• Whether the IRS was properly noticed

• Whether utility or LID liens are outstanding

• Whether any environmental actions are pending

• Whether the county is foreclosing on general taxes or an improvement district assessment

Failing to check these items can mean unexpected costs after purchase.

Our investment branch Snohocap.com can help you are looking at purchasing at a tax foreclosure or simply looking to invest in Commercial Real Estate. 

Our Contact: 

Weitz Commercial 

Scott@weitzcommercial.com

T: 206-306-4034

Foreclosures Spike in October - Concerning?

According to CNBC, foreclosure filings are increasing in the US. Our summary and thoughts below. 

CNBC Article 

After years of unusually low foreclosure activity, new data show that U.S. homeowners are beginning to feel strain — and the housing market may be showing fresh signs of distress.

Key Takeaways

• U.S. foreclosure filings surged by about 20 % year-over-year in October 2025, according to property-data provider ATTOM. 

• While still far below the levels seen during the 2008 financial crisis, this uptick signals borrower stress is rising. 

• Areas hit hardest include states where home-values have pulled back and cost burdens are rising — particularly in parts of Florida and Texas. 

What’s Driving the Rise?

• High mortgage rates (the 30-year fixed rate remains above 6 %) make refinancing or moving more expensive for many homeowners. 

• Inflation, rising homeowner-insurance premiums, high property taxes and other cost pressures are squeezing household budgets. 

• Earlier-buyers in high-cost markets are now finding themselves in negative-equity or near-problem situations as some home-prices decline or stall. 

Why It Matters

• The housing market has been one of the more resilient parts of the U.S. economy post-COVID, but higher foreclosure activity suggests the cracks may be widening.

• For real estate investors, fund managers (including those in commercial property), and stakeholders in distressed assets, rising foreclosure activity is a signal worth monitoring — it may foreshadow broader weakness in household finances and real-estate fundamentals.

• While this isn’t yet a systemic crisis, rising defaults and foreclosures raise risk for lenders, servicers and investors in residential real estate, especially in markets with softer home-price trends.

What to Watch Going Forward

• Whether foreclosure filings continue to rise (or accelerate) in coming months as economic pressures persist.

• Regional markets where home-price declines, high unemployment, or high mortgage-rate burdens coincide — these may be hotspots for real-estate distress.

• Impact on supply: more distressed sales and foreclosed properties entering the market could weigh on prices and rental markets in some areas.

Weitz Take: 

This one pretty much speaks for itself. I would say that a 20% increase is certainly notable, but this is very market to market driven at this point. It will be interesting to see if this makes it way to your area. 

National wide market shift according to Zillow

 A recent market overview put out by Zillow. The tide is changing. 

More than half of US homes lost value in the past year

What the data shows: 

• As of October 2025, about 53 % of U.S. homes had lost value over the past year, based on Zillow’s home-value estimates.
• This is the largest share of homes in decline since April 2012.
• Crucially: only around 4.1 % of homes are now worth less than their last sale price, so although many homes are down from peak, most owners still have equity.
• The decline is geographically uneven — certain metros and regions are faring worse than others.

Why it matters

For homeowners, buyers and real-estate investors this trend signals a cooler market — not necessarily a crash, but definitely a shift away from the frenzied appreciation seen in recent years.

• With over half of homes down, the “seller’s market” advantage is fading.
• For those looking to buy or invest: there may be more negotiating leverage and more cautious pricing to account for.
• For owners and sellers: it means longer holds, tighter margins, or reconsidering the exit timing.
• For lenders and credit risk: the fact that only 4.1 % of homes are below sale price is reassuring, but the uptick in value-loss calls for careful monitoring.

Context & caveats

• The metric is about homes that lost value in the past year, not about how many sold at a loss or were foreclosed.
• The fact that so few homes are below their last sale price suggests distress is still limited.
• Local markets matter a lot: national averages mask big regional differences. Some areas are seeing steeper declines, others less so.
• For real-estate fund managers or investors (particularly in distressed or value-add plays) this could indicate opportunity — but it also emphasizes the need for location-specific underwriting, careful stress-testing, and understanding the tail risk in weaker sub-markets.

Weitz Take: 

Ya don't say?..... Obviously this is not a surprise if you'd read this blog. 

The Zillow data illustrate a meaningful shift in the U.S. housing landscape: more than half of homeowners saw their property values decline in the past year. While the widespread panic of a full crash hasn’t hit (yet), the market is clearly moving toward more modest, cautious territory. For real-estate investors and fund managers, this means a mixed bag of risk and opportunity — the winners will be those who stay disciplined, localized, and forward-thinking in their underwriting.

If you have any questions on questions on investing in Snohomish County Real Estate, we'd love to help. 

Scott Weitz

Weitz Commercial

Scott@WeitzCommercial.com

T: 206.306.4034

Why Blockchain Is Poised to Disrupt Commercial Real Estate

An interesting interview regarding crypto currency and its current and future impact on the commercial real estate industry. 

The Basics: The commercial real-estate sector is on the cusp of a major technological transformation. While blockchain and tokenization have been more visible in residential markets and crypto-buzz, the movement is now gaining real momentum in the commercial realm. According to projections and expert interviews featured by CNBC, what’s happening now may reshape how properties are owned, managed, financed, and transacted.

Key Quotes

“Commercial is definitely right around the corner from really embracing it, so we’re on the edge.” — Tony Giordano, founder of the Opulent Agency. (The Tech Buzz)

From a report: “Blockchain-based smart contracts … can play a much larger role in CRE, potentially transforming core CRE operations such as property transactions, financing, leasing, and management.” (The Tech Buzz)

Pros & Cons of Blockchain in Commercial Real Estate

Pros

• Fractional ownership / tokenization: digital tokens representing property-ownership slices can open up commercial real estate to a broader investor base. (The Tech Buzz)

• Increased liquidity: traditionally illiquid assets (large office buildings, industrial parks) could be traded more easily via tokenized shares.

• Operational efficiencies: smart contracts and blockchain ledgers can reduce paperwork, intermediaries, transaction friction and increase transparency. (The Tech Buzz)

• Financing innovation: new models such as transferable mortgage bonds (via platforms like BV Innovation) that let owners retain favorable loan terms when changing properties. (The Tech Buzz)

• Extended use cases beyond ownership: property management, leasing, utilities, smart-city integration (parking, waste, energy billing) may all benefit. (The Tech Buzz)

Cons / Challenges

• Regulatory uncertainty: in the U.S., domestic investors currently face restrictions in accessing tokenized real-estate offerings, which slows adoption. (The Tech Buzz)

• Infrastructure & maturity: blockchain applications in CRE are still nascent, especially in commercial vs residential segments. Adoption is “on the edge” but not yet fully mainstream.

• Legacy systems & institutional resistance: many commercial-property firms still operate via paper-based processes, complex loan-structures, long-term leases and may resist change.

• Market education & risk perception: Investors and property owners need to understand the technology, digital token risks, smart contract reliability, platform-security, etc.

• Data & standardization issues: For blockchain to fully deliver, data standards, interoperability across platforms and property-industry participants must evolve.

Timeline: How We Got Here & What’s Ahead

• Early 2010s: Blockchain is primarily associated with cryptocurrency (e.g., Bitcoin) and fringe real-estate use-cases — few commercial-real‐estate firms experiment.

• Mid to late 2010s: Pilot tokenization projects for residential or hospitality assets emerge; the idea of ownership via digital tokens begins to surface.

• 2023-2024: Reports and analyses start projecting large scale tokenization of real-estate assets; technology platforms mature further.

• 2025 (Now): As per the article, commercial real‐estate is “finally embracing blockchain”. A report by Deloitte projects roughly US $4 trillion of real-estate will be tokenized by 2035 (up from < $300 billion today) — a ~13× increase. (The Tech Buzz)

• 2026-2030: Expect broader adoption in commercial real-estate: more tokenized deals, fractional ownership models, more lenders/platforms using smart-contracts for financing and titles.

• 2030-2035: If projections hold, tokenization becomes a mainstream alternative in commercial real-estate markets; major property portfolios, funds and global investors participate via digital tokens; smart-city infrastructure and property operations deeply integrate blockchain.

• Beyond 2035: Real-estate ownership, financing and operations may be transformed to a digital-native model — where ownership tokens, smart contracts, blockchain-ledgers remain standard parts of the ecosystem.

Conclusion

The commercial real-estate world is shifting. What once seemed like a futuristic or speculative application of cryptocurrency is now morphing into a foundational change in how the industry works. From tokenizing assets to automating transactions and management, blockchain could usher in an era of greater transparency, accessibility, and agility. The question isn’t whether the change will happen — it’s who will lead, and who will play catch-up.

Our Take:

Admittedly, for years, I thought that the government would push back on the Crypto market given its threat to the US dollar. Clearly, that ship has sailed, and Crypto appears here to stay. We will seek to be on the cutting edge for investors and how to best maximize this for our clients. 

For more information on investing in Snohomish County Commercial Real Estate, shoot us a message and we would love to discuss. 

Our Brokerage: 

Weitz Commercial

Scott@WeitzCommercial.com

T: 206.306.4034. 

CNBC Analyst gives sober analysis of markets

Above is a recent interview with CNBC host Andrew Sorkin discussing the similarities with the current times and the crash of 1929 that led to the Great Depression era. 

While the interview avoids much in terms of data and facts to support his opinion or even provide a timeline or the depths of such a downturn, we thought it offered some interesting insights worthy of a blog post. 

Some of the highlights include: 

 

The stock market is looking eerily similar to the crash of 1929 - (Namely the mirroring of major market increases)

 

He believes that prices are unsustainable, Trump’s tariffs on China are causing stress that may lead to a correction. 

 

He believes much of  the euphoria is a result of the AI boom;

 

There is currently increasing debt (both public and private) coupled with a tremendous amount of speculation in the market and says "A crash is inevitable, but when will this bubble pop?"

 

Our notes: An interesting point that was brought up in this interview was this idea about how the average person can’t invest into private companies while rich people can. Blackrock CEO Larry Fink and others are pushing for the private market to be more open to the average person. This includes things like allowing people to invest into these riskier assets/ companies with their 401K. 

Our take: Anyone that reads this blog knows that we have said similar things for better part of the past year or two so you won't get much objection here. We'd love to have him, as an expect, provide more data to up his assertions as we like to do, but the opinion is certainly clear....expect the unexpected and proceed with caution in the coming year(s). This is why we tell our investors that patience may pay off and to wait until clear opportunities arise if we do encounter of  period of debt defaults and/ or restructuring. 

For questions related to how to navigate Snohomish County Commercial Real Estate or if you find yourself with a need for Snohomish County debt negotiating or restructuring, we are happy to help. 

Our Firm: 

Weitz Commercial

108 Union 

Snohomish, WA 

Scott@WeitzCommercial.com

T: 206-306-4034

2025 Washington Foreclosure Prevention Act now includes Homeowners Association protection

Washington’s 2025 Foreclosure Prevention Act: New Protections for HOA and Condo Owners

October 2025 | Weitz Commercial Legal & Real Estate Insights

Washington has passed a sweeping Foreclosure Prevention Act (Senate Bill 5686), aimed at giving homeowners and condo owners more options before losing their properties.

While much of the bill expands the state’s foreclosure mediation program for mortgage borrowers, one of the most significant—and often overlooked—changes is how it now affects homeowners’ associations (HOAs) and condominium associations.

Expanded Mediation Rights for HOA Foreclosures

Beginning January 1, 2026, unit owners who fall behind on association dues or assessments will have the right to participate in Washington’s Foreclosure Mediation Program—the same process available to mortgage borrowers.

This means that before an HOA or condo association can complete a foreclosure for unpaid assessments:

• The unit owner must be given a chance to “meet and confer” with the association to discuss repayment or settlement options.

• If that fails, the owner may be referred to the state-run mediation program, where both parties must appear before a neutral mediator.

• During mediation, the association is required to provide detailed records—such as account ledgers, governing documents, and any liens—so the process is transparent and documented.

• Foreclosure actions are paused while mediation is pending, giving owners valuable time to resolve their debt.

Limits on HOA Fees and Collection Practices

The new law also places restrictions on the costs an association can charge once a homeowner becomes delinquent.

Only limited printing, mailing, administrative, and late fees may be added before a foreclosure can proceed, and all notices must follow specific timing and disclosure rules.

These changes are designed to prevent “runaway” legal and administrative fees from quickly outpacing the original debt—a common problem in HOA foreclosures.

Weitz Take

This doesn't change much for mortgage defaults, but huge for HOA defaults. In my opinion, HOAs have had far too much power for years often taking small defaults and turning them into large obligations that many Homeowners can't overcome. This is a good law to hold them accountable, but will also be a strain on HOAs that don't have adequate capital reserves for increased legal fees. 

For more information on Foreclosure Fairness Act Attorneys, you can reach me directly below. 

Scott Weitz

DC Legal, PLLC

Scott@dcseattle.com

National Real Estate Update

 The Balance of Power in Housing Is Shifting: What 500,000 More Sellers Than Buyers Means

Below is a summarized MSN.com article you can find here.  

The U.S. housing market is undergoing one of its biggest shifts in years—and this time, buyers are finally regaining the upper hand. According to Redfin’s latest analysis, there are nearly 500,000 more home sellers than buyers nationwide, marking a dramatic change from the bidding wars and lightning-fast sales of just a few years ago.

The Numbers Behind the Shift

As of April 2025, there were about 1.9 million active sellers compared with 1.5 million buyers. That’s a 34% gap, and it’s giving buyers leverage we haven’t seen since before the pandemic. With more options on the market, the urgency and fear of missing out are fading, and sellers are being forced to compete harder for attention.

Where Buyers Hold the Advantage

Some markets have swung sharply in favor of buyers.

• Miami now has nearly three sellers for every one buyer.

• Sunbelt metros like Austin, Phoenix, Tampa, and Atlanta are seeing similar trends, with homes lingering longer and price reductions becoming common.

• Even in more balanced markets like St. Louis, inventory has caught up enough that bidding wars are rare.

Pockets of Seller Strength

Not every region tells the same story.

• Newark, NJ still has about 47% more buyers than sellers.

• Boston also leans slightly toward sellers this spring, with demand staying relatively strong despite higher prices.

This patchwork highlights how local dynamics—jobs, affordability, and inventory—still drive conditions on the ground.

What It Means for Prices

With more homes than buyers, price growth is cooling. Redfin projects a 1% decline in U.S. home prices by year-end 2025. Sellers are increasingly resorting to price cuts, buyer incentives, and extended listing times. Homes selling above asking price are becoming the exception, not the rule.

Takeaways

For buyers, this is a rare opportunity to negotiate, shop patiently, and push for better terms. For sellers, the lesson is clear: pricing realistically matters more than ever. The market is no longer forgiving of overpricing, and flexibility will determine who closes a deal—and who’s left waiting.

Weitz Commercial take: 

Similar trends are occurring in the Seattle area (specifically King County and Snohomish). 

For instance, Snohomish County, according to the NWMLS has increased to 2136 from 1391 a year ago (July, 2024). Now granted, summer typically sees an increase in inventory, but those type of year over year (YOY) figures are worth noting and a bit alarming in our opinion. 

The next 3-6 months will be truly interesting and likely provide a clearly picture of where this market is heading. 

For more information on Snohomish County Commercial Real Estate, feel free to contact us: 

Weitz Commerical

108 Union St

Snohomish, WA 

Scott@Weitzcommercial.com

Text: 206.306.4034