KIRKLAND, WA April 6, 2009 – Pending sales around Western Washington for the month of March reached the highest level in six months, according to the latest figures from Northwest Multiple Listing Service.
Compared to February, last month’s pending sales (offers made and accepted, but not yet closed) surged 25 percent, rising from 4,559 transactions to 5,701. Last month’s volume was down 5.6 percent when compared to twelve months ago, but it was the highest monthly total since September when brokers reported 5,982 pending sales.
Inventory fell sharply from a year ago (down more than 14 percent), in part due to fewer new listings being added to the supply. Member brokers added 10,252 new listings during March, compared with 13,274 for the same month a year ago, for a drop of nearly 23 percent.
At month-end, there were 39,825 active listings of single family homes and condominiums in the MLS database, a decline of 14.1 percent from the year-ago total of 46,358 listings. The total includes 33,083 single family homes and 6,742 condominiums in 19 counties.
NWMLS director Dick Beeson believes continued reduction in inventory will spur buyer activity. “Well priced and well conditioned properties will generally be the first ones purchased,” Beeson, the broker/owner of Windermere Commencement Associates in Tacoma, predicts.
Beeson said open house traffic and calls from “for sale” signs have increased twofold in recent weeks. Buyers are scouring the Internet before calling or visiting open houses so they tend to be knowledgeable about options in their price range, he remarked, while noting they’re still seeking assistance from Realtors® in navigating the negotiation and closing process.
Prices for last month’s completed sales fell about 14 percent area-wide from a year ago, reflecting a combination of factors, including a lingering imbalance between supply (inventory) and demand (buyers), creating a favorable market for buyers. Also, although not quantified in the NWMLS report, a sizable number of foreclosed homes and short sales are included in the monthly tallies so those deeply-discounted properties tend to drag down prices overall.
“As expected, the numbers reflected in the March report continue to show year over year declines. However, these historical comparisons fail to tell the story of the real-time market, which is beginning to show true signs of improvement in many areas,” said Ron Sparks, managing vice president of Coldwell Banker Bain.
Sparks said his company’s Tacoma regional offices reported tripling sales in March, driven in part by lower prices, exceptionally low interest rates and incentives such as the $8,000 first-time homebuyer tax credit. The incentives are also credited with spurring increased buyer activity and competition for “starter” homes in many Seattle neighborhoods.
Pending sales in the MLS map areas that make up most of Seattle surged 35.4 percent in March compared to February. The southwest part of King County also registered robust month-to-month gains – 39.3 percent -- while sales on the Eastside rose more than 32 percent last month compared to February.
Seven of the 19 counties in the MLS system reported gains of 30 percent or more when comparing last month’s pending sales to February totals. Those counties were Grant, Island, Lewis, San Juan, Skagit, Snohomish and Whatcom.
A comparison of price changes for last month’s closed sales shows a 15.4 percent drop in the median price of a single family home compared to twelve months ago and a 2.8 percent decline from February. Of the 19 counties in the MLS report, eleven reported price increases from February.
Condominium prices are down about 8 percent from a year ago and 2.5 percent from a month ago. About half the counties that reported closed sales of condominiums during March showed price increases when compared to February.
Brokers report growing awareness and use of the $8,000 tax credit for first-time buyers, but are less certain of the impact of federal programs for helping distressed homeowners. “The congressional stimulus package for housing refinances to help distressed homeowners by reducing their mortgage interest rates has not really benefited as many as was hoped,” according to Beeson. “Few, if any, banks seem willing to participate,” he commented.
J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, believes more can be done at the national level to stimulate the housing market. In testimony before a U.S. Senate committee last week, he urged support for a number of measures proposed by the National Association of Realtors®. The proposals include allowing a home buyer to use tax credit funds toward a down payment and encouraging FHA to use its authority to increase loan limits in communities that have exceptionally high home prices.
Encouraged by some of the positive indicators in the latest MLS report, Sparks acknowledged “we’re not out of the woods quite yet, but market improvement must begin somewhere.” NWMLS director Dick Beeson agreed. “All in all, we are seeing generally increased interest at all levels of the market, high and low end. We may not soon see 2005 or 2006 levels of sales numbers, but we're holding our own and progressing steadily in the right direction.”
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
Have you ever wondered who's actually getting the stimulus money and what types of projects are being funded? This impacts our state and local community so visit www.StimulusWatch.org to learn more!
StimulusWatch.org was built to help the government keep its pledge to invest stimulus money smartly and to add transparency and accountability to the process.
At StimulusWatch.org you can find and review projects that are candidates for funding by federal grant programs. You can even sort the projects by activity, expense, and need.
Better still, you can access a list of projects by state, so you can see how the Stimulus Plan will impact our state and local community - including costs, number of jobs, and exact locations! Simply select our state and review the projects under consideration. You can even add comments about the value of the projects listed!
It's convenient, interactive, and easy to understand - check it out today!
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
720 209th Ave Ct E Lake Tapps 98391
Closing Date: April 17th 2009
List Price: $599,000
Sale Price: $585,000
Bedrooms: 4
Bathrooms: 4.5
Year Built: 2002
Square Feet: 4101
MLS: 28040980
Gated River View Ridge Community in NE Lake Tapps.Builder Euro Way.Beautiful View Home on 1.21 Acres.Dieringer Schools.Stone & Hardiplank,soaring ceilings,great room floor plan,designer colors,extensive millwork & rod iron staircase.Main floor has:2 bedrooms 1.5 baths,dining room,kitchen nook,laundry,3 car garage.Upstairs has:master bdr w/sun room,& 2 sided fireplace in bath,2nd bdr has private bath,2 other bdr share a Jack-n-Jill bath.Fenced yard,covered patio,sprinkler,enjoy view of Mt Rainier For more information visit www.davidjedwards.com/or call 425-890-8045.
This home is no longer available. However, if you would like to preview homes similiar to this, please contact me to arrange for a free buyer's consultation.
Best Regards!
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
720 209th Ave Ct E Lake Tapps 98391
Closing Date: April 17th 2009
List Price: $599,000
Sale Price: $585,000
Bedrooms: 4
Bathrooms: 4.5
Year Built: 2002
Square Feet: 4101
MLS: 28040980
Gated River View Ridge Community in NE Lake Tapps.Builder Euro Way.Beautiful View Home on 1.21 Acres.Dieringer Schools.Stone & Hardiplank,soaring ceilings,great room floor plan,designer colors,extensive millwork & rod iron staircase.Main floor has:2 bedrooms 1.5 baths,dining room,kitchen nook,laundry,3 car garage.Upstairs has:master bdr w/sun room,& 2 sided fireplace in bath,2nd bdr has private bath,2 other bdr share a Jack-n-Jill bath.Fenced yard,covered patio,sprinkler,enjoy view of Mt Rainier For more information visit www.davidjedwards.com/or call 425-890-8045.
This home is no longer available. However, if you would like to preview homes similiar to this, please contact me to arrange for a free buyer's consultation.
Best Regards!
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
720 209th Ave Ct E Lake Tapps 98391
Closing Date: April 17th 2009
List Price: $599,000
Sale Price: $585,000
Bedrooms: 4
Bathrooms: 4.5
Year Built: 2002
Square Feet: 4101
MLS: 28040980
Gated River View Ridge Community in NE Lake Tapps.Builder Euro Way.Beautiful View Home on 1.21 Acres.Dieringer Schools.Stone & Hardiplank,soaring ceilings,great room floor plan,designer colors,extensive millwork & rod iron staircase.Main floor has:2 bedrooms 1.5 baths,dining room,kitchen nook,laundry,3 car garage.Upstairs has:master bdr w/sun room,& 2 sided fireplace in bath,2nd bdr has private bath,2 other bdr share a Jack-n-Jill bath.Fenced yard,covered patio,sprinkler,enjoy view of Mt Rainier For more information visit www.davidjedwards.com/or call 425-890-8045.
This home is no longer available. However, if you would like to preview homes similiar to this, please contact me to arrange for a free buyer's consultation.
Best Regards!
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
Open House Sunday April 19th from 1:00 PM to 4:00 PM
4613 241st Ave SE, Issaquah, WA 98029
Price: $600,000
Bedrooms: 5
Bathrooms: 2.75
Year Built: 1989
Square Feet: 2900
MLS: 29040020
This John F. Buchan home is situated in a private setting on a quiet, low traffic cul-de-sac in Brookshire Estates. The home has a view of Tiger Mountain and boasts a large aggregate driveway, two beautiful brick chimneys, a new 50 year roof, shadow boxing, arched double pane UV resistant windows, elegant brick work, new garage doors and garage door openers, a security keypad and interior sensors that signal when the garage doors are open. The attic is equipped with a solar powered fan and tons of storage. The lot has mature landscaping and backs to a greenbelt. The interior of the home is adorned with a grand foyer, coved ceilings, a sunken living and family room, fresh paint, beautiful wood work, built-in shelving, skylights, hardwood floors, new carpet, french doors and crown molding throughout. The large kitchen has a garden window, walk-in pantry, a Jenn-Air stove that converts to a grill, a new dishwasher and new faucet. The master suite has an elegant soaking tub, new faucets, and walk-in closet.
Property Website: http://www.davidjedwards.com/32961.asp
Virtual Tour: http://www.flyinside.com/tour.php?id=32961
Directions: From I-90, Take EXIT 17 toward E LK SAMMAMISH PARKWAY SE. Turn LEFT onto FRONT ST N. Turn RIGHT onto SE ISSAQUAH-FALL CITY RD. Turn LEFT onto ISSAQUAH-PINE LAKE RD SE. Turn RIGHT onto 238TH WAY SE. Turn LEFT onto SE 46TH PL. Turn LEFT onto 241ST AVE SE. End at 4613.
If you can't make it to the open house but would still like to preview this home, please contact me to arrange for a private showing.
Best Regards!
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
After over four months of speculation and uncertainty, the foreclosure moratorium has been lifted by Fannie Mae and Freddie Mac, according to Mary Kane of the Washington Independent (4/2/09). Enacted initially to keep families in their homes through the holidays, the moratorium was extended for almost three months as a long term solution was sought for the influx in foreclosure filings. This announcement follows the stock market’s recent surge and positive housing sale news for the month of February.
Homeowners facing foreclosure can now explore alternatives during the process; a process which differs for each state. The new regulations allow lenders to offer a loan modification to the homeowner, an effort to correct financing missteps and keep homes occupied. If unsuccessful, the homeowner and lender are able to quickly pursue a short sale on the property. While this serves as a viable solution, the short sale process traditionally has been a complicated transaction. Both of these options may provide solutions for lenders and homeowners, but the volume of REO properties is still expected to steadily increase and impact the market in Q2 and Q3 of 2009.
Expertise in the REO space will continue to benefit agents and brokers, especially in the hard hit areas. Lenders and Asset Managers are looking for agents with specific skills and experience in marketing and selling REO properties. As the property volume grows, there will be an increasing necessity for expert REO agents to find buyers and liquidate the large number of bank owned properties which have been held back by the moratorium.
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
The Seattle Times published an interesting article concerning all of the factors that have come into alignment to make it a great time to be a first-time home buyer.
The article was originally published on March 21st, 2009. Here is a link to the article.
http://seattletimes.nwsource.com/html/realestate/2008894939_firsttimebuyers22.html
If you have questions about the benefits to first-time home buyers that were mentioned in the article, feel free to contact me. I'd be happy to answer any questions you might have.
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
6903 162nd Street Ct E, Puyallup WA 98375
Price: $190,000
Bedrooms: 3
Bathrooms: 1.5
Year Built: 1983
Square Feet: 1516
Lot Size: 11,460 Square Feet / .26 Acres
MLS: 29043687
This rambler has been completely updated throughout and is ready for you to call home. Located in the excellent neighborhood of Casa Del Prado, this home has been upgraded with new carpet, fresh paint, a newer roof, vinyl double pane windows and fresh paint on the exterior. The master bedroom boasts a walk-in closet and half bath. The home sits on a large private lot and the yard has been fully fenced in the front as well as the back. There is a dog a run along the side of the home and plenty of off street parking for you and your guests. For more information visit www.davidjedwards.com/33118.asp or call 425-890-8045.
For More Information Visit: http://www.davidjedwards.com/33118.asp
Virtual Tour: http://www.flyinside.com/tour.php?id=33118
Driving Directions: From WA-512 W toward PUYALLUP/OLYMPIA, Take the CANYON RD. exit toward SUMMIT. Turn LEFT onto CANYON RD E. Turn LEFT onto 160TH ST E. Turn RIGHT onto 66TH AVE E. Turn LEFT onto 162ND ST CT E.
If you would like to preview this home, please contact me to arrange for a private showing.
Best Regards!
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
The Renton Police Department has launched a new crime-fighting tool on the city's website called Renton's Most Wanted. Check it out at http://www.rentonwa.gov/living/default.aspx?id=21588.
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
