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Bob's Bugle Real Estate Blog for Washington State
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Posted by Bob Chapman - Washington Real Estate Page on December 27, 2008 at 1:14 PM under
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Interest rates are near historic lows. Housing prices have tumbled, in some areas as much as 25% or more. In other areas prices are actually starting to go up slightly. Most regions are showing signs of price stabilization. What are you waiting for? Santa won't be back for another year! FHA loans are available with low down payments & a minimum 620 credit score. It is time to BUY!
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Posted by Bob Chapman - Washington Real Estate Page on December 22, 2008 at 3:53 PM under
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Just as interest rates reach near historical lows, thus spurring some real estate Buyer activity, old man winter throws a cold icy blanket on the scene. The unusually harsh winter weather in the Pacific Northwest, especially the greater Pudet Sound region, has sent potential home buyer's to the warmth of the shopping mall or just staying home rather than slogging thru the cold deep snow and ice piled high in the driveways and streets of subdivisions.
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Posted by Bob Chapman - Washington Real Estate Page on December 17, 2008 at 10:42 AM under
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Compared to one year ago, Northwest MLS median prices for single family homes and condos fell by approximately 9.5% for properties having closed sales in November 2008.
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Posted by Bob Chapman - Washington Real Estate Page on December 15, 2008 at 6:42 PM under
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Foreclosed and Bank Owned homes are beginning to have an impact by lowering median prices of broker listed homes in the Northwest MLS statistics.
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Posted by Bob Chapman - Washington Real Estate Page on December 14, 2008 at 6:20 PM under
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NW Multiple Listing Service broker listed inventory of condominiums was up slightly from one year ago by 1.4%.
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Posted by Bob Chapman - Washington Real Estate Page on December 12, 2008 at 5:27 AM under
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Total homes and condos listed for sale thru broker members of the Northwest MLS in Washington State dropped slightly in the month of November with 9 of the total 19 counties served by the multiple reporting declines.
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Posted by Bob Chapman - Washington Real Estate Page on December 11, 2008 at 1:56 PM under
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The FED continues to test the wind with low mortgage interest rate teasers. For a couple of weeks now we have been hearing rumors of a 4.5% rate. Today, a regulator with FNMA, stated that he thinks rates will eventually drop to as low as 3.5%, but he did not know how soon that would be. Buyer's were already sitting on the sidelines waiting for the mythical 4.5% rate. What will this do?
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Posted by Bob Chapman - Washington Real Estate Page on December 6, 2008 at 6:53 PM under
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The latest statistics in Washington State show that as many as 40% of real estate broker listed properties are Short Sales. Not all homes listed as Short Sales are considered Distressed Homes under the Washington State Distressed Property Law.
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Posted by Bob Chapman - Washington Real Estate Page on December 2, 2008 at 10:09 AM under
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Home Mortgage Interest Rates are Plunging!
If you have been waiting for that perfect time to buy – It is HERE! Now! Homes prices are way down and now home mortgage interest rates have fallen to the same levels that they were more than 4 years ago during the Home Buying Boom.
Interest Rates: FHA, VA and FmHA as low as 5.375%; Conventional 5.25%. Both are trending lower and no additional points required beyond the normal 1.0% lender fee. Also, just as important, lenders are lending again instead of putting all that bail-out money into reserves.
Better yet, home prices, depending on the area, have fallen as much as 20% or more from their highs of two years ago. That makes for maximum affordability for YOU. Home prices appear to be stabilizing while Buyer activity has picked up in a noticeable way and many Sellers, while generally not reducing their average asking price any further, are still offering Buyer incentives such as closing cost assistance. That means less money out of your pocket to get into a home.
NOW is the time to buy a home! No one knows how long the current reduced interest rates will be available. But they are available right now, so what are you waiting for? Santa Claus will not put a new home under your tree – only YOU can do that!
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Posted by Bob Chapman - Washington Real Estate Page on December 12, 2007 at 9:43 AM under
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The Northwest MLS, which serves 19 counties in central and western Washington State, including the greater Puget Sound region, reported 5,194 pending sales of homes and condominiums for November, 2007. This number was down from November, 2006 in which 7,022 pending sales were posted, a decrease of 26 percent.
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Posted by Bob Chapman - Washington Real Estate Page on December 11, 2007 at 11:31 AM under
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The latest data from the Northwest Multiple List Service, November, 2007, indicates that there has been very little price change between this year and last. Homes and Condos active listings for sale are up 31 percent, year over year, but down 6.3% from October, 2007.
The numbers also show the normal seasonal slow down of activity for Pending Sales. However, reports from area real estate brokers seem to show an up turn in agents working with motivated buyers and sellers. The NWMLS data is collected from broker members in central and western Washington State, including the Puget Sound region housing market.
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Posted by Bob Chapman - Washington Real Estate Page on December 7, 2007 at 9:13 AM under
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Stanwood Washington State Chamber of Commerce Information:
Thank you for visiting my blog. Below you will find the address, phone number and a link to the official website for the Stanwood Chamber of Commerce which includes the cities of Bothell, Brier, Edmonds, Lynnwood, Mill Creek, Monroe, Mountlake Terrace, Mukilteo & Woodway, Washington. Please feel free to contact me for any additional information that you may require for any other Chamber of Commerce in the area or for any real estate relate question or concern.
My website, www.washingtonrealestatepage.com, has multiple pages of information including other Chambers of Commerce through out Snohomish County and FREE MLS real estate searches for homes and land for sale in each city located in Snohomish County or all of Washington State.
My Contact Info:
Bob Chapman - Associate Broker, Windermere Real Estate/Lake Stevens, Inc.
E-Mail: bobchapman@windermere.com,
Cell/Direct: (425) 268-2940, Off: (425) 335-4666 Ext. 236, Fax: (425) 335-1838
Address: 9327 4th St. NE, Ste. 3, Lake Stevens, WA 98258
Stanwood Chamber of Commerce
8725 271st St. NW
Stanwood, WA 98292
Office Phone: (360) 629-0562
Website: Stanwood Washington Chamber of Commerce
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Posted by Bob Chapman - Washington Real Estate Page on December 6, 2007 at 7:50 AM under
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South Snohomish County Washington State Chamber of Commerce Information:
Thank you for visiting my blog. Below you will find the address, phone number and a link to the official website for the South Snohomish County Chamber of Commerce which includes the cities of Bothell, Brier, Edmonds, Lynnwood, Mill Creek, Monroe, Mountlake Terrace, Mukilteo & Woodway, Washington. Please feel free to contact me for any additional information that you may require for any other Chamber of Commerce in the area or for any real estate relate question or concern.
My Contact Info:
Bob Chapman - Associate Broker, Windermere Real Estate/Lake Stevens, Inc.
E-Mail: bobchapman@windermere.com,
Cell/Direct: (425) 268-2940, Off: (425) 335-4666 Ext. 236, Fax: (425) 335-1838
Address: 9327 4th St. NE, Ste. 3, Lake Stevens, WA 98258
South Snohomish County Chamber of Commerce
3815 196th St. SW, Ste. 136
Lynnwood, WA 98036
Office Phone: (425) 774-0507
Website: South Snohomish County Chamber of Commerce
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Posted by Bob Chapman - Washington Real Estate Page on December 5, 2007 at 7:54 PM under
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Snohomish Washington State Chamber of Commerce Information:
Thank you for visiting my blog. Below you will find the address, phone number and a link to the official website for the Snohomish Chamber of Commerce. Please feel free to contact me for any additional information that you may require for any other Chamber of Commerce in the area or for any real estate relate question or concern.
My Contact Info:
Bob Chapman - Associate Broker, Windermere Real Estate/Lake Stevens, Inc.
E-Mail: bobchapman@windermere.com,
Cell/Direct: (425) 268-2940, Off: (425) 335-4666 Ext. 236, Fax: (425) 335-1838
Address: 9327 4th St. NE, Ste. 3, Lake Stevens, WA 98258
Snohomish Chamber of Commerce
P.O. Box 135
Snohomish, WA 98291
Phone: (360) 568-2526
Website: Snohomish Chamber of Commerce
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Posted by Bob Chapman - Washington Real Estate Page on December 4, 2007 at 8:26 AM under
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Mukilteo Washington State Chamber of Commerce Information:
Thank you for visiting my blog. Below you will find the address, phone number and a link to the official website for the Mukilteo Chamber of Commerce. Please feel free to contact me for any additional information that you may require for any other Chamber of Commerce in the area or for any real estate relate question or concern.
My Contact Info:
Bob Chapman - Associate Broker, Windermere Real Estate/Lake Stevens, Inc.
E-Mail: bobchapman@windermere.com,
Cell/Direct: (425) 268-2940, Off: (425) 335-4666 Ext. 236, Fax: (425) 335-1838
Address: 9327 4th St. NE, Ste. 3, Lake Stevens, WA 98258
Mukilteo Chamber of Commerce
P.O. Box 545
Mukilteo, WA 98275
Phone: (425) 347-1456
Website: Mukilteo Chamber of Commerce
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Posted by Bob Chapman - Washington Real Estate Page on December 3, 2007 at 5:26 PM under
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Monroe Washington State Chamber of Commerce Information:
Thank you for visiting my blog. Below you will find the address, phone number and a link to the official website for the Monroe Chamber of Commerce. Please feel free to contact me for any additional information that you may require for any other Chamber of Commerce in the area or for any real estate relate question or concern.
My Contact Info:
Bob Chapman - Associate Broker, Windermere Real Estate/Lake Stevens, Inc.
E-Mail: bobchapman@windermere.com,
Cell/Direct: (425) 268-2940, Off: (425) 335-4666 Ext. 236, Fax: (425) 335-1838
Address: 9327 4th St. NE, Ste. 3, Lake Stevens, WA 98258
Monroe Chamber of Commerce
111 W. Main St.
Monroe, WA 98272
Office Phone: (360) 794-5488
Website: Monroe Chamber of Commerce
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Posted by Bob Chapman - Washington Real Estate Page on November 30, 2007 at 10:30 AM under
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Greater Marysville Tulalip Washington State Chamber of Commerce Information:
Thank you for visiting my blog. Below you will find the address, phone number and a link to the official website for the Greater Marysville Tulalip Chamber of Commerce. Please feel free to contact me for any additional information that you may require for any other Chamber of Commerce in the area or for any real estate relate question or concern.
My Contact Info:
Bob Chapman - Associate Broker, Windermere Real Estate/Lake Stevens, Inc.
E-Mail: bobchapman@windermere.com,
Cell/Direct: (425) 268-2940, Off: (425) 335-4666 Ext. 236, Fax: (425) 335-1838
Address: 9327 4th St. NE, Ste. 3, Lake Stevens, WA 98258
Greater Marysville Tulalip Chamber of Commerce
8825 34th Ave. NE, Suite C
Tulalip, WA 98271
Office Phone: (360) 659-7700
Website: Greater Marysville Tulalip Chamber of Commerce
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Posted by Bob Chapman - Washington Real Estate Page on November 29, 2007 at 7:40 AM under
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Greater Lake Stevens Washington State Chamber of Commerce Information:
Thank you for visiting my blog. Below you will find the address, phone number and a link to the official website for the Greater Lake Stevens Chamber of Commerce. Please feel free to contact me for any additional information that you may require for any other Chamber of Commerce in the area or for any real estate relate question or concern.
My Contact Info:
Bob Chapman - Associate Broker, Windermere Real Estate/Lake Stevens, Inc.
E-Mail: bobchapman@windermere.com,
Cell/Direct: (425) 268-2940, Off: (425) 335-4666 Ext. 236, Fax: (425) 335-1838
Address: 9327 4th St. NE, Ste. 3, Lake Stevens, WA 98258
Greater Lake Stevens Chamber of Commerce
9327 4th St. NE, Ste. 7
Lake Stevens, WA 98258
Office Phone: (425) 334-0433
Website: Greater Lake Stevens Chamber of Commerce
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Posted by Bob Chapman - Washington Real Estate Page on November 28, 2007 at 8:13 AM under
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Greater Granite Falls Washington State Chamber of Commerce Information:
Thank you for visiting my blog. Below you will find the address, phone number and a link to the official website for the Greater Granite Falls Chamber of Commerce. Please feel free to contact me for any additional information that you may require for any other Chamber of Commerce in the area or for any real estate relate question or concern.
My Contact Info:
Bob Chapman - Associate Broker, Windermere Real Estate/Lake Stevens, Inc.
E-Mail: bobchapman@windermere.com,
Cell/Direct: (425) 268-2940, Off: (425) 335-4666 Ext. 236, Fax: (425) 335-1838
Address: 9327 4th St. NE, Ste. 3, Lake Stevens, WA 98258
Greater Granite Falls Chamber of Commerce
P.O. Box 28
Granite Falls, WA 98252
Office Phone: (425) 238-9840
Website: Greater Granite Falls Chamber of Commerce
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Posted by Bob Chapman - Washington Real Estate Page on November 27, 2007 at 11:50 AM under
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Everett Area Washington State Chamber of Commerce Information:
Thank you for visiting my blog. Below you will find the address, phone number and a link to the official website for the Everett Area Chamber of Commerce. Please feel free to contact me for any additional information that you may require for any other Chamber of Commerce in the area or for any real estate relate question or concern.
My Contact Info:
Bob Chapman - Associate Broker, Windermere Real Estate/Lake Stevens, Inc.
E-Mail: bobchapman@windermere.com,
Cell/Direct: (425) 268-2940, Off: (425) 335-4666 Ext. 236, Fax: (425) 335-1838
Address: 9327 4th St. NE, Ste. 3, Lake Stevens, WA 98258
Everett Area Chamber of Commerce
2000 Hewitt Ave., Suite 205
Everett, WA 98201
Office Phone: (425) 257-3222
Website: Everett Area Chamber of Commerce
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Posted by Bob Chapman - Washington Real Estate Page on November 26, 2007 at 3:10 PM under
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Greater Edmonds Washington State Chamber of Commerce Information:
Thank you for visiting my blog. Below you will find the address, phone number and a link to the official website for the Greater Edmonds Chamber of Commerce. Please feel free to contact me for any additional information that you may require for any other Chamber of Commerce in the area or for any real estate relate question or concern.
My Contact Info:
Bob Chapman - Associate Broker, Windermere Real Estate/Lake Stevens, Inc.
E-Mail: bobchapman@windermere.com,
Cell/Direct: (425) 268-2940, Off: (425) 335-4666 Ext. 236, Fax: (425) 335-1838
Address: 9327 4th St. NE, Ste. 3, Lake Stevens, WA 98258
Greater Edmonds Chamber of Commerce
121 5th Ave. North
Edmonds, WA 98020
Office Phone: (425) 670-1496
Website: Greater Edmonds Chamber of Commerce
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Posted by Bob Chapman - Washington Real Estate Page on November 21, 2007 at 9:41 AM under
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Greater Bothell Washington State Chamber of Commerce Information:
Thank you for visiting my blog. Below you will find the address, phone number and a link to the official website for the Greater Bothell Chamber of Commerce. Please feel free to contact me for any additional information that you may require for any other Chamber of Commerce in the area or for any real estate relate question or concern.
My Contact Info:
Bob Chapman - Associate Broker, Windermere Real Estate/Lake Stevens, Inc.
E-Mail: bobchapman@windermere.com,
Cell/Direct: (425) 268-2940, Off: (425) 335-4666 Ext. 236, Fax: (425) 335-1838
Address: 9327 4th St. NE, Ste. 3, Lake Stevens, WA 98258
Greater Bothell Chamber of Commerce
10017 NE 185th St.
Bothell, WA 98011
Office Phone: (425) 485-4353
Website: Greater Bothell Chamber of Commerce
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Posted by Bob Chapman - Washington Real Estate Page on November 20, 2007 at 12:22 PM under
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Arlington - Smokey Point Washington State Chamber of Commerce Information:
Thank you for visiting my blog. Below you will find the address, phone number and a link to the official website for the Arlington - Smokey Point Chamber of Commerce. Please feel free to contact me for any additional information that you may require for any other Chamber of Commerce in the area or for any real estate relate question or concern.
My Contact Info:
Bob Chapman - Associate Broker, Windermere Real Estate/Lake Stevens, Inc.
E-Mail: bobchapman@windermere.com,
Cell/Direct: (425) 268-2940, Off: (425) 335-4666 Ext. 236, Fax: (425) 335-1838
Address: 9327 4th St. NE, Ste. 3, Lake Stevens, WA 98258
Arlington - Smokey Point Chamber of Commerce
3710 168th St. NE
P.O. Box 3035
Arlington, WA 98223
Office Phone: (360) 659-5453
Website: Arlington - Smokey Point Chamber of Commerce
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Posted by Bob Chapman - Washington Real Estate Page on November 15, 2007 at 9:47 AM under
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Real estate broker members of the Northwest MLS are still optimistic, even though the data shows slower activity in the housing market. Many real estate professionals cite Western Washington State’s projected population growth combined with steady job creation numbers as still providing a demand for median priced homes and condominiums. The strongest demand for homes is still near job creation centers and shorter commute times. This activity is helping to provide stability in the Puget Sound regions real estate market.
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Posted by Bob Chapman - Washington Real Estate Page on November 14, 2007 at 2:36 PM under
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The Northwest MLS, which serves real estate brokers in central and western Washington State, reported data for October, 2007 which indicates that four counties in the Puget Sound region, King County, Kitsap County, Pierce County and Snohomish County, had price appreciation in single family homes and condominiums of approximately 1.3 percent over one year ago. The increase in the average closed sale price was $344,250, up from $339,950.
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Posted by Bob Chapman - Washington Real Estate Page on November 13, 2007 at 1:51 PM under
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Prices for Homes and Condos, based on closed sales data during the month of October, 2007, were essentially unchanged in the 19 counties served by the Northwest MLS, which includes central and western Washington State including the greater Puget Sound area real estate market.
A closer look at the numbers show an average of less than a two percent drop for seven of the counties with five counties having double-digit increases over the same period of one year ago.
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Posted by Bob Chapman - Washington Real Estate Page on November 12, 2007 at 9:58 AM under
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According to the Northwest Multiple Listing Service, which has real estate broker members in central and western Washington State including the greater Puget Sound area, the number of single family homes listed for sale during October, 2007 was 40,252. The median listed price was $375,000. Additionally the NWMLS reported 7,129 condominiums for sale, in the same time frame, with a $289,900 median asking price.
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Posted by Bob Chapman - Washington Real Estate Page on November 9, 2007 at 9:17 AM under
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The Northwest MLS, which represents real estate brokers in central and western Washington State, including the greater Puget Sound area, added 11,785 new home and condo listings in October, 2007. This addition to the available inventory was the lowest since February, 2007. The total number of single family home and condominium active listings for sale in the NWMLS for October, 2007 was 47,381. This figure is still approximately 31% higher than one year ago.
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Posted by Bob Chapman - Washington Real Estate Page on November 8, 2007 at 8:55 AM under
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Real estate broker members of the Northwest MLS, which includes central and western Washington State and the greater Puget Sound region, turned in 6,127 pending sales of homes and condominiums during the month of October, 2007. That number of pending sales transactions was 379 more than September, 2007, but was still 28 percent less than one year ago.
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Posted by Bob Chapman - Washington Real Estate Page on November 7, 2007 at 10:14 AM under
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Pending sales of homes and condos were up in western Washington State during October, 2007. This reversed a trend of several months of declining sales in the region. This information is based on the latest numbers from the Northwest Multiple Listing Service (NWMLS) which serves central and western Washington and the greater Puget Sound area real estate market. The latest MLS figures also indicate some slow down in the number of active listings in inventory and price appreciation.
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Posted by Bob Chapman - Washington Real Estate Page on October 22, 2007 at 10:55 AM under
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The housing market in the greater Puget Sound region presents good opportunities for buyers and sellers. Interest rates are still very low, based on historical data. With higher inventory giving buyers more choices, either in resale or new construction homes, sellers, including builders, are finally beginning to relent some and are offering closing cost and other buyer bonuses. Sellers who are looking to move up in the real estate housing market should consider taking advantage of the excellent choices they would have as buyers. Homes priced right are still selling well. The sky is not falling in northwestern Washington State!
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Posted by Bob Chapman - Washington Real Estate Page on October 19, 2007 at 12:25 PM under
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Demand for condominiums kept prices rising thru September, 2007, and continuing to do better than single family homes in the Northwest MLS service area of central and western Washington State including the greater Puget Sound area real estate market. Prices for closed sales of condos were up about ten percent from the same period in 2006. The King County median price for a condo was $299,900.00, up almost 14.8% from last year’s figure of $231,250.00.
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Posted by Bob Chapman - Washington Real Estate Page on October 18, 2007 at 7:31 AM under
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In the Northwest MLS service area, central and western Washington State, including the greater Puget Sound region, single family home prices on closed sales thru September, 2007, excluding condos, have increased approximately 3.7% more than one year ago. In the central Puget Sound real estate market area, Kitsap County had the largest gain with about 12.8% and King County came in at 5.9%. Examining the same data sets for the Snohomish County housing market, the median single family home price for closed sales was nearly a 2.7% increase from last year while Pierce County indicated a slight 1% drop for the year to date.
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Posted by Bob Chapman - Washington Real Estate Page on October 17, 2007 at 11:17 AM under
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Combined prices for single family homes and condos for Northwest MLS listed properties, which included central and western Washington State and the greater Puget Sound region real estate market, that closed in September, 2007, were up more than four percent from one year ago. When looking at the same real estate market pricing data for closed home and condominium sales in Cowlitz County, Grant County, Grays Harbor County, Kitsap County, Mason County, Pacific County and San Juan County, the same combination of real property sales rose nearly double from last year.
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Posted by Bob Chapman - Washington Real Estate Page on October 16, 2007 at 12:56 PM under
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Northwest MLS real estate brokers have reported 5,748 pending sales for the month of September, 2007. Pending sales are offers from buyers that have been accepted by sellers but not closed yet. This figure was approximately 32% lower than twelve months ago. In September, 2006, the MLS reported postings of 8,499 pending sales of single family homes and condos. An analysis of the data provided by the NWMLS indicates that during the first nine months of 2007, pending sales of Central and Western Washington State homes and condominiums are down about 11% from last year.
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Posted by Bob Chapman - Washington Real Estate Page on October 15, 2007 at 3:36 PM under
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Available condominiums for sale in the Northwest MLS inventory for September, 2007, which includes Central and Western Washington State and the greater Puget Sound region real estate, was roughly 62 percent higher than one year ago. Upon analysis of the MLS data, approximately three of every ten condos for sale were new construction vs. resale condominiums.
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Posted by Bob Chapman - Washington Real Estate Page on October 12, 2007 at 11:10 AM under
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Figures just released by the Northwest MLS show real estate prices are still rising in Central and Western Washington State with inventory levels of single family homes and condominiums appearing to level off.
Real estate brokers added 12,385 new listings during September, 2007. That was the lowest number since February, 2007 when 11,333 single family homes and condos were added to the listing inventory. There are now almost 49,000 residential properties available in the NWMLS system for sale in 19 counties across central and western Washington State. These numbers represent an approximate 33 percent increase in homes for sale over one year ago in this region.
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Posted by Bob Chapman - Washington Real Estate Page on October 11, 2007 at 2:41 PM under
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Buyers should not be spooked about the housing market, even with Halloween approaching! According to the latest figures from the Northwest Multiple Listing Service and the opinion of several real estate brokers in the greater Puget Sound region, now is the time for buyers to be making offers.
Attempting to “time the market” is next to impossible. If you are a buyer and you need a home, the selection could not be better. Trying to wait and save a bundle on the home you really want and are going to live in for more than three years just does not make good economic sense. Sellers are starting to understand that they are now competing against many more homes, just like theirs, and are beginning to offer some attractive bonuses to buyers. Buying single family homes and condos in Washington State is still a good investment for your future.
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Posted by Bob Chapman - Washington Real Estate Page on September 18, 2007 at 7:40 AM under
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REAL ESTATE NEWS, INFORMATION & BLOG
September 13, 2007
*Key Indicators for August Home Sales Around Washington
Show Continuing Trend of Fewer Sales, Higher Prices*
KIRKLAND, Wash. (Sept. 10, 2007) – Housing activity around western Washington during August resembled the pattern of the past several months with inventory continuing to grow, fewer homes selling and prices increasing compared to the same month a year ago.
New figures from Northwest Multiple Listing Service show pending sales in its 19-county service area dropped more than 22 percent from twelve months ago, while prices rose 2.8 percent. Last month's volume of pending sales, which totaled 7,751 transactions, was down about 10 percent from July when members reported 8,614 pending sales system-wide.
Brokers report plentiful selection in most areas, with inventory almost 46 percent larger than the number of listings offered a year ago. At month end, there were 48,585 active listings of single family homes and condominiums in the Northwest MLS database, up from the year-ago total of 33,316.
The total includes 14,500 new listings that MLS members added during the month – the fewest number since March. Those additions include 12,239 single family homes and 2,261 condominiums.
"The market is adjusting to a slower but steady pace," said Northwest MLS director Dick Beeson, a broker/owner of Windermere Real Estate in Tacoma. He noted savvy buyers are finding real values because they know motivated sellers are more flexible than they've been in a long time.
Despite market conditions that tend to favor buyers in many areas, home prices are still increasing, but at a slower pace. For most counties in the NWMLS service area, the year-over-year gain was less than 7 percent, although five counties (Grant, Island, Lewis, Okanogan and San Juan) experienced double-digit price jumps compared to twelve months ago.
For the Puget Sound region encompassing King, Snohomish, Pierce and Kitsap counties, selling prices rose about 5 percent from a year ago. The median price for the 5,975 sales of single family homes and condos in the four-county region that closed during August was $361,822; a year ago, the median selling price was $344,575.
A closer look reveals considerable variation in year-over-year price changes within the MLS service area. In King County, for example, the median price of a single family home (excluding condominiums) that sold last month was $477,345, a jump of more than 9.7 percent from a year ago. For single family homes in Pierce County, the median selling price rose 6 percent, rising from $275,000 to $291,500. In Snohomish County, sales prices climbed from $368,875 to $375,000, a gain of about 4.5 percent.
Prices surged 30 percent for single family homes that sold in San Juan County last month compared to a year ago. Sellers in Jefferson County experienced a similar gain (28.4 percent).
Condo prices also vary widely across the Northwest MLS service area. In eight counties, the median price of a condo that sold during August was under $200,000.
In King County, which accounts for about six of every 10 condo sales in the MLS system, the median sales price for last month's completed sales rose 5.75 percent, increasing from $269,500 to $285,000. Within King County, the southwest and eastside sub-areas had double-digit price gains on condo sales compared to a year ago.
The highest priced condos continue to be found in downtown Seattle. The median price for last month's completed sales of condos in the downtown area was $430,000, a slight drop from the year-ago figure of $440,000.
Washington state continues to experience little fallout from loan delinquencies and foreclosures. A recent analysis by the Mortgage Bankers Association pegs the state's foreclosure rate on all loans at 2.6 percent, one of only six states with rates under 3 percent. For subprime ARMS (adjustable rate mortgages) the default rate for Washington stood at 10.4 percent; only Oregon (10.2 percent) and Utah (9.4 percent) claimed lower rates of delinquencies.
Washington also fared better than most states for home price appreciation for the second quarter. Surveys by the Office of Federal Housing Enterprise Oversight (OFHEO) shows Washington was one of only four states where homes appreciated at 9 percent or more between the second quarter of 2006 and the second quarter of 2007.
Referrals are a “very” important part of my business. Please let me know of anyone that you know who may be considering Buying or Selling real estate – or please give them my name and contact information!
Thank You! Bob Chapman
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Posted by Administrator on September 18, 2007 at 7:34 AM under
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Test blog 09/18/07
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Posted by Administrator on September 17, 2007 at 4:23 PM under
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test posting of Bob's Bugle blog
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Posted by Admin on December 27, 2005 at 11:00 PM under
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This real estate blog has opinions, commentary and data regarding the central & western Washington State home and condominium real estate market. This includes housing market activity, median prices, pending sales and solds, price appreciation and inventory statistics on availability and trends for single family homes and condos. Bob Chapman is a licensed Washington State real estate agent and associate broker for Windermere Real Estate. As a Washington real estate agent I will be providing real estate news and information for each of these counties: Clark County, Cowlitz County, Grant County, Grays Harbor County, Island County, Jefferson County, King County, Kitsap County, Kittitas County, Lewis County, Mason County, Okanogan County, Pacific County, Pierce County, San Juan County, Snohomish County, Thurston County and Whatcom County.
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 Member National Association of Realtors®
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 Federal Fair Housing Law
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