Posts Tagged ‘Real Estate Market’

Sales Report for September!

Everything!

Fall is definitely here although we’ve had some incredibly beautiful days so far!  Remember, we don’t “fall back” until November 6!

 In news from the Northwest Multiple Listing Service: 

 Pending sales for the Northwest MLS service area, which encompasses 21 counties, are up more than 20 percent from a year ago. Following typical August-to-September patterns, the volume of pending sales (mutually accepted offers) tapered off last month (down 9.6 percent) compared to the previous month.

Brokers reported 4,988 closed sales during September, beating the year-ago volume by 991 transactions for a gain of almost 25 percent. The number of completed transactions in the four-county Puget Sound region (King, Pierce, Snohomish and Kitsap) jumped 32 percent from twelve months ago.

 Interest rates are still very low, 30 year fixed at under 4%.  This is not going to last forever but it is spurring some buyers to take advantage of the combination of low interest rates and high seller motivation.

 In September (South Pacific County, NWMLS listed properties) there were 14 residential sales, which also includes condos.  Three of these were bank-owned properties.  As you can see, there were some higher priced sales this month, compared to previous months.  Land sales look more impressive than they were.  The two sales for $450,000 were actually ONE sale but it had been listed as two different types of property.  One shows up as a commercial sale and one as vacant land.  Note that the original list price was $950,000!  See the report here: September Sales

On another note, our office continues to improve!  The painting is almost complete (no more pink).  The new handicap ramp is in place, our sign is lighted, parking lot paved and striped.  Our next project is an upgrade of our website to make it more “friendly”.

Thank you to everyone who has made Discovery Coast Real Estate a success.  We just celebrated our 3rd anniversary in business!

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Thinking it through

Long Beach Peninsula, Real Estate, Water Front, Water Vew

You’re looking for a home.  Maybe you’ve  been looking for a long time, maybe you’ve just started.  How do you finally make that decision? It’s scary, isn’t it? 

How much can you spend on a home? So many buyers focus on the price of the home rather than what it will ultimately cost them per month.  And it’s interesting to note that the low interest rates on mortgages is what really makes things so affordable right now.

Buyers who believe we haven’t “hit bottom” with prices could be in for an unpleasant surprise if they wait too long.  If you’ve got your eye on a home and the list price is “X”, what will your monthly payment be?   A couple months later the seller reduces the price and you’re ready to make your move.  The interest rate has jumped just 1%.  Your buying power just dropped by 10.75%. 

That very reasonable and affordable monthly payment just went up, perhaps by enough that now your lender denies your loan!

So, while it’s important to watch prices, mortgage rates are an integral part of the purchasing process.  Stay in touch with your Realtor and your lender.  And remember, don’t be buying a new car right before you make an offer on the house of your dreams!

Questions?  Email me!

Boxer Play Date!

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Sales Report for the Beach

Everything!, Long Beach Peninsula, New Listings, Real Estate, Water Front, Water Vew

The State of the Real Estate Market

I’ve been sitting here watching it alternate between snow, sunshine, hail and rain.  And I’m told I have mood swings.  Mother Nature is definitely going full circle today!

Because I normally update my sellers every month, this report is for a specific period.  If you would like information on a different time frame, please let me know and I’d be happy to prepare it for you.  I have two reports here:  Residential (which includes single family residential, townhomes and condos) and Vacant Land.  The period covered is January 16, 2011 through February 22, 2011.

In the upper left corner of each listing you’ll find LP for List Price and SP for Sales Price.  This is pretty basic info so if something is interesting to you, just let me know and the details will be forthcoming!

It’s encouraging that during the crazy winter weather there have been 20 residential sales.  Land suffered quite a bit during this period but I’m hopeful that the thoughts of summer vacation will bring buyers out to see what great deals we have here!

Buyers, this information might be helpful to you too.  Except for a few listings, sales prices have been only slightly less than list prices.  For the 20 listed here, the average was 92.04% of the list price.  While sellers are still highly motivated, contrary to popular belief, not many of them are in a “do or die” situation and have to let their property go for a song.

So, there you have it for this month.  New listings are arriving daily so if you’re a buyer, let’s get started! 


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As a Buyer, how long can you afford to wait?

Everything!, Long Beach Peninsula, Real Estate

I hear it everyday from buyers – I don’t think the market has “hit bottom” yet.  Can you afford to gamble on that?  There are a number of factors that, in my opinion, you need to consider while you’re waiting for the market to get even worse:

  • The home you’ve had your eye on will be sold to someone with a bit more faith in the economy and not willing to take the chance that the market is going to swing UP instead of continuing down.
  • The mortgage rate will spike just about the time you’re ready to make your move.  Read today’s report about Mortgage Fees on the Rise
  • The inventory will shrink as buyers make the move and start purchasing.  Right now there are plenty of homes to chose from – what will it be like when you’re finally off the fence?
  • You’re going to miss all the fun things going on at the beach this summer if you don’t get your home or vacation property soon!


Things are improving in Washington State.  The Northwest Multiple Listing Service reported in their 2010 Annual Report that closed sales of homes and condos was up 303 sales over 2009.   The median price for homes sold in Pacific County was $127,000.   Showings are strong right now and many offers are being written and accepted.  Some homes that were on the market for incredible periods of time are finally getting new owners. 

So, what will it take to get you off the fence?  Get down and talk to your lender and then contact one of the great Broker/Agents at Discovery Coast Real Estate.  They have all the info and expertise you need to make an informed and wise decision.  There are Sellers waiting for you!

Sign up for a personalized search on the website and you won’t miss a single thing.  You can receive updates by RSS feed or email on the schedule you prefer. 

And be sure to visit us on Facebook.  We’d love it if you’d “Like” Discovery Coast Real Estate!

We can find you a home that fits purr-fectly!

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How’s the Market? Ask a Realtor®!

Everything!, Long Beach Peninsula, Real Estate, Water Front, Water Vew

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!

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