Yes, you read that right… I know, it sounds crazy but the article below from The Tacoma News Tribune illustrates what's currently going on in this real estate market.
"Hold on, Steve… How are you able to work both sides like that, in what everyone says is such a super hot Seller's market?" I'm glad you asked because the answer is simple. Being a solid Real Estate Broker and pulling off ridiculous sh*t for my clients is what I do…It's a lifestyle, it's not a "gig" or even a "job"… I do this full time, and I've been doing it for almost 14 years through all time great markets & all time bad markets.
Lots of rookies, retirees, and job hoppers run to real estate when the newspaper says it's hot. With a few exceptions, those same people run out of the industry at the first sign of adversity. In fact, your 2nd Cousin, your favorite neighbor's friend, or a long lost buddy of yours from high school might have just got licensed. I'm sure you got the cheesy postcard. Just sayin'…
Seattle has been named by more than a few publications as one of America's hottest real estate markets. It's up there with San Francisco and New York when it comes to relocating home buyers. Because the Seattle market has become so tight, real estate in the South Puget Sound area has experienced a noticeable amount of "overflow".
By Rolf Boone
Tacoma News Tribune
The South Sound housing market roared all summer and now fall is shaping up to be pretty good, too, according to Northwest Multiple Listing Service data released Thursday.
That’s because the data showed a surprisingly strong October, particularly in Thurston County where sales of single-family residences shot up 36 percent from the same month a year ago.
Sales results weren’t that strong in Pierce County last month — sales rose nearly 6 percent in the past year — but the county still sold more than 1,100 single-family residences.
One-thousand or more single-family residences have sold every month in Pierce County since April, the data show.
Although Pierce County didn’t experience a double-digit increase in sales, the picture was brighter for median price, which rose 10.5 percent in the past year. In Thurston County, the median price rose 8.3 percent over the same period, the data show.
Bottom line: It remains a seller’s market.
“It’s a very good time to sell,” said Ken Anderson, managing broker and owner of Coldwell Banker Evergreen Olympic Realty, in a statement. “Owners who are eager to make the next move don’t have to wait six months or until spring to act.”
But prospective buyers, it appears, will still be forced to act quickly because inventory levels also remain low.
Pierce County months of inventory — the number of months it would take to exhaust the current supply of single-family residences for sale — was 2.44 months in October. In Thurston County, it was 2.55 months, the data show.
Six months of inventory is considered a balanced market for buyers and sellers.
In King County, meanwhile, months of inventory was 1.33 months and the median price, $480,000, up 7.3 percent in the past year, the data show.
A closer look at the South Sound single-family residence data:
▪ Pierce County: Sales rose 5.7 percent to 1,126 units from 1,065 units in October 2014. Median price rose 10.5 percent to $255,250 from $231,000 over the same period. Pending sales rose 15 percent to 1,465 units from 1,275 units.
▪ Thurston County: Sales rose 36 percent to 398 units from 292 units in October 2014. Median price rose 8.3 percent to $249,000 from $229,925. Pending sales rose 3.3 percent to 436 units from 422 units.
Read more here: LINK TO ARTICLE
Pretty cool article in today's Tacoma News Tribune referencing our recently launched 2015 US Open Housing Website www.ChambersBayHousing.com. It was nice to see my comments were in context and there wasn't much in need of correction. That isn't always the case, so seeing it in place was refreshing. If you haven't seen the article it's linked HERE.
If you want to see the actual 2015 US Open at Chambers Bay House rental webpage we've setup click HERE. As always, feel free to call me direct if you have questions or just want to talk golf, sports, local news, etc. I'm not one to shy away from a phone call. 253-988-3120 is my number.
Thanks for taking time to read this.
If you're like me, making resolutions is something you try to do every year but they don't last. This year I decided to challenge myself on a few things rather than "make a resolution". The link below helped me come up with some fun challenges for myself and my family. Take a look and see if something catches your eye. Good luck and may 2014 be your best year ever!!!
Want to Sell Your House This Fall?
If you're looking to sell your home this Fall you'll want to do everything you can to make your house look its best. Contrary to popular belief, Fall can actually be a great time to sell. Keep these tips in mind and you're likely to achieve positive results:
- Curb appeal. A home shopper's first impression is everything. The moment they pull up to the curb, they'll make an instant judgment. You'll want to be sure it's positive. You can begin by making sure leaves are raked, and your shrubs and bushes are pruned. Hang a festive fall wreath on your door.
- Make sure your walkway is free of leaves and debris.
- The Northwest is rainy…Be sure you have a good doormat so visitors can wipe their feet and not traipse mud and water through the house.
- Make sure gutters are free from debris and drain properly.
- Keep the house cozy. Entering a cold house could leave an unfavorable impression. Instead, set the thermostat at a comfortable temperature.
- Make sure the back yard and your roof aren't covered in leaves.
- Make sure your windows are sparkling clean.
- Keep wall colors neutral and light. A light yellow or beige will make the room feel cooler than a brick red or dark taupe.
- Let the light in. Open blinds and curtains so plenty of light can brighten up the home's interior.
- And, just like any other time of year, get rid of the clutter throughout your house. And get rid of any odors that might be a distraction.
Sometimes we hear stories about people doing amazing things and it gets us a little inspired. Sometimes we hear stories about people overcoming obstacles or beating the odds and that gets us a little inspired. And sometimes, you get placed in the presence of people that are doing those amazing things while overcoming those obstacles, and without any thought of not being just "what they do". It's being in the presence of those people where you can be inspired to your inner core! That's how my family and I feel about the Vukich Family, and more specifically, Mr. Cole Vukich!
We were lucky to meet the Vukich family through the University Place youth sports program when Cole and his twin brother Case were placed on the Tee-Ball team I coached the spring before the kids started school together. I'd heard about Cole and the cancer fight he'd been dealing with since the age of two. His story had struck a chord with me because I'd lost my Dad to a similar type of cancer in 1994. Knowing what my Dad went through in the last years of his life made Cole's story as a kid even more amazing.
The first day of practice I went out there knowing Cole was on the team but we'd yet had opportunity to meet. I scanned the group of typical rambuncious four year olds in front of me looking for the "kid with cancer" but couldn't find him. "Is he here?" I thought as I asked the kids to tell me their names. As we went down the list I heard this rather outgoing little guy say "Cole" when asked his name. I thought no way is this the kid I'd heard about but sure enough, that kiddo, different from nobody standing there, was him. It was then that I realized I was in the presence of something a little different.
If you didn't know already, you flat out couldn't walk up to my team and pick out the "kid with cancer". You know why? It's because we don't have a kid with cancer. We have Cole, and he just happens to be the kid kicking Leukemia's butt! That surely doesn't define him though. He's as crazy, or crazier than any kid I know. He's as happy, or happier than any kid I know. And he's just as athletic as any kid I know. Hearing about what he deals with on a daily basis no doubt makes him "the toughest kid I know". I tell him all the time he's the toughest kid I know, and the smile he gives back is enough to inspire me like nothing I've ever been around.
The stories over the last couple years are pretty awesome and the stories yet to come are sure to be even better. The next time we cross paths just ask and I'll share a couple with you. In the meantime, take a look at this article from the Tacoma News Tribune's front page. It talks about his Dad doing the Firefighter's Stair Climb to raise money for the Leukemia/Lymphoma Society. That's a great event and I highly recommend you donate to the cause. However, the real story here is one of inspiration and how one kid's blind toughness can inspire others to do everything they can to be their best all the time. Thanks Cole Vukich, and the Vukich family. It's a true honor to have your presence in our lives.
Click here for the News Tribune article: http://goo.gl/0We1d
Click here to donate to the Firefighter's Stair Climb event: http://goo.gl/27q09
Kirkland, WA, January 17, 2013 – Members of Northwest Multiple Listing Service tallied 64,624 closed sales of single family homes and condominiums during 2012, improving on 2011’s volume by 8,332 transaction for a gain of nearly 15 percent.
Last year’s completed sales included 55,699 single family homes and 8,925 condominiums. Together, these sales were valued at more than $19.9 billion, which compares to the previous year’s total of around $16.7 billion (up nearly 19.6 percent).
Median prices area-wide increased by $10,000 (about 4.3 percent), rising from $235,000 to $245,000, although not all areas reported gains. Mason, Snohomish and King counties reported the healthiest jumps.
Prices on single family homes rose, while condo prices fell. The median price for single family homes that sold last year was $255,000 across the 21 counties, improving on the previous year by 8.5 percent. King County claimed the highest median prices for single family homes ($365,000), while the most affordably priced homes – based on 2012 median prices – were located in Pacific County ($111,000).
Condo prices declined about 2.7 percent, with the area-wide median price falling from $180,000 in 2011 to $175,200 for last year’s sales.
Inventory also shrunk from 2011 levels year as a result of stronger sales and fewer new listings. Over the course of the year, brokers added 10,071 fewer new listings to the Northwest MLS database when compared to 2011 for a drop of 9.9 percent.
In its annual statistical summary report for its 20,000-plus brokers, the multiple listing service examined various indicators of activity. Among the findings:
- Single family homes accounted for about 86 percent of the sales volume as measured by units, and nearly 90 percent of the dollar volume.
- About 40 percent of last year’s sales were for homes in King County.
- About half the homes that sold last year (48.8 percent) had 3 bedrooms, while more than three-fourths of condos (77 percent) had 2 or fewer bedrooms.
- Last year’s sales included 7,710 newly built single family homes and 930 newly built condominiums. Of this new construction component, new condos fetched a higher price ($331,888) than newly built single family homes, which had a median sales price of $299,950.
- Northwest MLS brokers reported 1,254 sales with prices of $1 million or more, including 1,116 single family homes and 138 condominiums. More than half the top-end homes were located in Eastside communities, including Bellevue, Kirkland, Mercer Island and Sammamish.
- The highest priced single family home in the MLS system that sold last year was on Mercer Island (with a selling price of $21.625 million), while the most expensive condo ($4.25 million) was a penthouse in a downtown Seattle high-rise.
- Northwest MLS members reported 93,778 pending sales (mutually accepted offers) during 2012. That marked an increase of about 15.6 percent from 2011 when members logged 81,109 pending sales. (Note: Not all pending sales become closed transactions. Failed home inspections, mortgage loan rejections, low appraisals and contract contingencies are among many factors that cause transactions to be cancelled.)
- The pace of sales as measured by “months supply” (an estimate of how long it would take for all inventory of active listings to sell at the current pace assuming no new inventory is added) showed a system-wide total of 3.15 months, which compares to a figure of 5.02 months for 2011. Based on this barometer, both King and Snohomish counties averaged less than two months of supply during 2012. (Analysts consider a supply of 3-to-6 months to be a balanced market, meaning the market favors neither buyers nor sellers.)
Northwest Multiple Listing Service, owned by its member real estate firms, is the largest full-service MLS in the Northwest. Its membership includes more than 20,000 real estate brokers. The organization, based in Kirkland, Wash., currently serves 21 counties in Washington state.
Are you still with me? If so, Here's the complete report……All 37 pages of it. Read and enjoy! As always, I'm here if you'd like some of this information broken down into details. Don't hesitate to drop me a line….
I stumbled across this story today and felt it necessary to share. People like this make the world around them better. It amazes me how 24 notes on a trumpet can stir about so much emotion.
Take a look:
Have a great day!
Here are the schedules for our favorite football teams… Get 'em on your calendar…Football season is HERE!!!
Have you seen Oscar Pistorius run yet? He's the South African double amputee who fought for the right to compete against able bodied athletes. This summer he will be competing for gold in both the 400 meter and 4×400 meter relay.
Seriously….How cool is that?
My Dad lost part of his leg in 1993 and he all he wanted to do was golf again. He worked hard to get there and did eventually achieve that goal! Memory of his struggle is something that inspires me to do better.
I hope you are enjoying the Olympics. My family sure is… I'm here if you need help with anything.
My new obsession with HBO’s “Game of Thrones” made it so I had to share this.
One of Britain’s most historic country mansions has gone on the market for the bargain price of $3.8 million. Not bad considering the British government bought it just eight years ago and spent $6 million dollars renovating it. You’ll have to live without bathrooms though because this palace is missing its ‘throne room.’ The whole story is here.
Just more proof that buyers want updated baths! I hope you’re having a great day – Let me know if you need anything.