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And Discovery Coast Real Estate proudly wears the Realtor®  ”R”!   

Here’s a little update on how things are going in our area of the real estate world.  This Cross_Client_Summary1121 shows MLS listed sales from October 15 through November 5, 2010.  It’s a fairly brief report so if you’d like more information on any of the properties that sold recently, just let me know.

There were 23 single family sales with a median price of $113,500.  Vacant land still lagged behind with only 4 sales in this time period.

The recent report from Northwest Multiple Listing Service, of which we were member/owners, stated in part:

• “Housing activity around Washington state remained lackluster during October, with brokers reporting year-over-year declines in pending sales. On a brighter note, prices on sales that closed last month showed signs of stabilizing, with eight counties showing price gains compared to 12 months ago.”
• “ Inventory remained plentiful, despite the addition of fewer new listings during October than during the same month a year-ago.”
• “’Buyers and sellers need to live in the now and not try to second-guess the market or when it will actually bottom out,’” Wilson suggested, adding the messages to sellers and buyers are unchanged. ‘Sellers need to be realistic’, Wilson emphasized, noting on average 27 percent of listings sell within the first 30 days and 46 percent of listings either take more than six months or don’t sell at all. ‘This is why it is critical to price your home correctly right out of the gate when it is being seen by the most buyers,’ he explained.”
• “‘The advice to buyers has not changed either, according to Wilson. With interest rates low and inventory fairly abundant, prospective owners should be prepared to make an offer if they see an appealing house that has just been listed.’ “
• “In a statement accompanying a report last week on existing home sales across the U.S., Lawrence Yun, chief economist for the National Association of REALTORS®, said the housing market is in the early stages of recovery. ‘A housing recovery is taking place, but will be choppy at times depending on the duration and impact of a foreclosure moratorium. But the overall direction should be a gradual rising trend in home sales with buyers responding to historically low mortgage interest rates and very favorable affordability conditions,’ he said.”

For more opinions on the market, I invite you to read this article “Most Say it’s a Good Time to Buy“.

If you enjoy reading these posts, won’t you please tell a friend?  And we’d love to have you “like” us on Facebook and “follow” us on Twitter!  Let’s get the word out that real estate at the beach is affordable and living at the beach is beyond description!

Tags: beach, mortgage, pacific county wa, pacific county washington, Real Estate, Real Estate Market, Realtor, sales
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