After a strong December, January was a bit of a disappointment. I have to admit that even my optimism has dipped a bit. This in spite of a short but sunny visit to Arizona! But Spring is near, the weather has been better than tolerable and it’s tough to keep me down! On the upside, mortgage rates are staying lower than expected (READ) and overall inventory is going down. Market times seem to be a little bit shorter.
In the January NWMLS report it states: “Inventory is down almost 20 percent from a year ago. Brokers added 6,666 new listings to inventory during January, with single family homes making up about 85 percent of those additions. At month end, MLS members reported 26,226 total active listings; a year ago, there were 32,647 active listings. Despite the smaller selection, the price choices overall are wide ranging, from a low of $13,000 for a manufactured home in Sultan to an asking price of $26.8 million for a waterfront home on Mercer Island.”
An interesting quote from a Northwest Multiple Listing Service broker bears repeating because I’ve seen the same thing: “I remember at the height of the market people would say ‘I wish I would have bought some waterfront back in 2001…or I wish I would have picked up a couple of rentals a few years ago’.” For these people, “the clock has been rolled back and you now have an opportunity to purchase real estate near the bottom of the market”.
Locally, there were just 15 NWMLS listed sales during the month of January. 14 were residential, 1 was vacant land. Of the residential sales, 2 were bank owned properties. The vacant land was also REO. You can see all the sales here: January Sales Report.
Currently, there are 268 residential listings. 14 are REO, 6 are short sales. There are 257 vacant land listings, 3 of which are REO.
Discovery Coast Real Estate will be successful. We’re thankful for our loyal, realistic and patient sellers. We’re grateful for buyers who put their trust in us to treat them honestly and fairly. 2012 will be a good year!
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And if you need a pick-me-up, here are the top 10 flowers you might want to think about planting to make your property “pop” for buyers: Roses, Hostas, Geraniums, Petunias, Violets, Impatiens, Marigolds, Ornamental Grasses and Zinnias. |
