Posts Tagged ‘Real Estate Market’

Sales Report for September!

Everything! | Posted by Cheri Diehl

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 view | Posted by Cheri Diehl

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 view | Posted by Cheri Diehl

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 | Posted by Cheri Diehl

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 view | Posted by Cheri Diehl

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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Real Estate Report!

Everything!, Long Beach Peninsula, Real Estate | Posted by Cheri Diehl

FINALLY SOLD!

My oldest listing!  It just goes to show that there’s

a buyer for every property – don’t give up hope!

This is a quick summary of the real estate market from September 1 through October 15.  These figures are based on Northwest MLS listed properties.

There were 23 single family home sales (which includes condos and townhomes).  The average price was $137,853 with the median being $110,000.  Prices ranged from $21,500 ( a condo) to $387,500.  The average days on market was 266.

Vacant land is still lagging behind.  Just 7 sales ranging in price from $7,500 to $150,000. 

Are you still kicking yourself for missing out on the tax credit for home buyers?  Don’t just give up – sellers are highly motivated and interest rates are incredibly low.  All of this can add up to a bigger savings than you would have gotten next April!  Come see Discovery Coast Real Estate today and see how easy it is to save money!

EUROPEAN VACATION – the final chapter will be published this week.  Who knew there’d be so many other things to do when we returned?

The holiday are upon us and maybe cooking just isn’t high on your list.  Make reservations now for your favorite holiday meal in your favorite restaurant.  Check it out here:  Microsoft Word – Restaurant Holiday Schedules ”10-’11

Remind all your friends and relatives of how nice it is to visit our area during the winter months.  Be sure to send them this link on Funbeach about the Today Show Feature!


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November Sales Report

Everything!, Long Beach Peninsula, Real Estate | Posted by Cheri Diehl

November Report

The weather has certainly taken a turn for the “winter”.  Temperatures below freezing are expected to continue this week.  A rumor of snow has been floating around but so far it’s just cold, sunny & bright!

I hope everyone enjoyed Thanksgiving.  Charlie was recovering from a nasty cold so we were quarantined for the day.

This report is a bit different than what I normally send but I’m trying to keep everyone up-to-date on what the market is doing not only here in Pacific County, but in other areas covered by the Northwest Multiple Listing Service.

KIRKLAND, Wash. (Dec. 3, 2009) – Home sales continued to outperform year-ago totals and prices continued to show signs of stabilizing, according to the latest report from Northwest Multiple Listing Service. Brokers credit move-up buyers as one factor for the positive activity.  “This winter will not be ‘business as usual’ for the housing market,” proclaimed the CEO of one brokerage while expressing optimism for 2010.

Pending sales for November tapered off from October’s surge during the rush to beat a looming tax credit deadline, but compared to November 2008, home sales jumped more than 31 percent. Members notched 4,888 pending sales (mutual acceptance of an offer) last month, which compares to 3,727 pendings for the same period a year ago.

Closed sales of single family homes and condominiums (combined) for November outgained year-ago totals by an impressive 76 percent, rising from 2,937 completed transactions to 5,168 closings across the NWMLS service area. Last month’s total number of closings (5,168) exceeded the number of pending sales (4,888), a ratio that had not occurred since October 2008.  The median sales price area-wide was down about 7 percent from a year ago, the lowest percentage decline all year. Prices had been off every month this year by double digits until June (down 9.5 percent) and August (down about 8.8 percent), but for past three months the decline has been under 7.5 percent.

(Last month, Congress passed new legislation that extends the first-time home buyer tax credit of up to $8,000 to buyers who purchase by April 30, 2010. The legislation also authorized a tax credit of up to $6,500 for qualified repeat home buyers.)

Holidays can be favorable time to buy, sell

Although seasonal slowdowns are typical for housing activity, industry experts say now can be a good time for both sellers and buyers. Buyers tend to encounter less competition for the most desirable homes. Also, qualified buyers can expect above-normal attention from service providers who are experiencing a slowdown in their business, including lenders, home inspectors, appraisers and title companies. Lenders may even be willing to extend very favorable mortgage terms or forgo some fees as they vie for business.

Area New Listings Total Active # Pending Sales # Closings Avg. Price Median Price
King 2571 11474 1984 2025 $415,581 $337,000

Snohomish

 1128 5063 787 803 $294,649 274,950
Pierce 1120 5471 840 802 $247,899 $222,000
Kitsap 328 1719 218 267 $273,771 $239,995
Mason 72 678 61 55 $187,179 $175,000
Skagit 146 1228 88 121 $236,525 $207,500
Grays Harbor 149 758 75 73 $159,859 $139,000
Lewis 84 742 43 36 $176.312 $162,400
Cowlitz 101 663 50 85 $173,687 $161,000
Grant 70 664 39 63 $174,257 $152,000
Thurston 328 1668 222 277 $251,349 $225,000
San Juan 24 441 10 1 $470,660 $377,000
Island 143 1036 83 89 $285,988 $240,000
Kittitas 65 511 32 37 $256,025 $230,000
Jefferson 33 532 13 27 $333,793 $271,000
Okanogan 21 352 23 15 $181,827 $150,000
Whatcom 228 1687 195 235 $290,344 $240,250
Clark 48 285 42 59 $259,011 $225,000
Pacific 34 362 19 19 $141,688 $139,000
Ferry 1 49 1 2 $185,825 $185,825
Others 107 883 63 64 $206,682 $187,450
MLS TOTAL 6,801 36,266 4,888 5,168 $329,379 $265,000


Locally, there were 18 home sales and 8 vacant land sales in November.  Interestingly, of the total sales recorded, 11 of those were listed by real estate companies.  I’m happy to say that of the home sales in November, Discovery Coast Real Estate ranked #4 out of 10!

Home sales ranged in price from $38,500 to $333,000 and land sales were $14,108 to $71,200.

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