Real Estate Market Report for Seabeck WA - May 2009

By
Real Estate Agent with Keller Williams West Sound Realty

Here is the real estate market report for NWMLS Area 145 - Seabeck WA - as of May 5, 2009.

Current Active Listings:     90

Sold in Past 6 months:     39

Average Sales Price:        $ 267,204

Average List Price:           $ 287,080

Ratio of LP vs. SP:           93%

Days on Market:              142

Pending this week:          3

The market indicators here in Kitsap County WA seem to be showing a welcomed improvement in overall activity and sales. Part of this can be attributed to normal seasonal changes/dynamics, but there is clearly a notable increase of Buyer activity taking advantage of low rates and home price reductions.

Olympic View Marina projects hits temporary snag

The long anticipated Olympic View Marina project hit yet another temporary setback recently when the proposed lender pulled the plug on their financing. This action, by no means, bears any negative reflection on the viability of the project or the solvency of the LLC partners. Many banks and lending institutions have been suffering from the recent economic downturn and mortgage crisis, and are greatly curtailing or eliminating funding, especially for commercial construction projects.

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Rich Jacobson is a licensed real estate professional providing empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, SOUNDBITEBLOG, and Crabbing in the Hood.

 

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Rainmaker
327,863
Dinah Lee Griffey
Windermere Peninsula Properties - Allyn, WA
Managing Broker Windermere Peninsula Properties

I am seeing pending numbers going up. My clients are feeeling more pressure as they look for homes and see the ones they werer considering sell over the weekend-Dinah Lee

May 05, 2009 03:51 PM #1
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Jeff Dowler CRS
Solutions Real Estate - Carlsbad, CA
Carlsbad CA Homes for Sale (760) 840-1360

Rich - good information for buyers and sellers. Looks like a substantial absorption rate, although better than in some parts of the country.

BTW what do you think about that new bill whereby WA is giving first time home buyers their credit (well up to $8K) up front as a loan this year before they close? They can recover if from the state and federal tax burden it seems.

Jeff

May 05, 2009 07:54 PM #2
Rainmaker
397,991
Nevin Williams
Sierra Pacific Mortgage Raleigh - Raleigh, NC
Raleigh Mortgage Pro

I handle a fair amount of business in Washington state especially Yakima, Walla Walla and Seattle.  These pictures have induced me to prepare my next visit out there to see my agents and clients.  See what you did!

May 05, 2009 09:38 PM #3
Rainmaker
232,616
Sal Poliandro - Bergen County Realtor
RE/MAX Properties - Ridgewood, NJ
Short Sale Specialist - CDPE, SRES, SFR, IRES

Rich,

     You do so much here in the rain, I almost forgot you were a Realtor. LOL

May 05, 2009 10:53 PM #4
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Rich Jacobson
Keller Williams West Sound Realty - Poulsbo, WA
Your Kitsap County WA Real Estate Broker

Sal:   Thanks! I've been focusing more lately on getting my RE biz back up to speed.

Jeff:   I think it's a mistake. It will simply encourage people to over extend themselve beyond what they normally could afford. I think it's better to get the credit after the fact, and use it for improvements or put it into savings.

May 06, 2009 07:19 AM #5
Rainmaker
46,013
Sarah Nopp
South Sound, WA

I agree with you on the Tax Credit thing. People are going to make better decisions with this "future money" than they do with any other free thing. Oh well.

By the way, do you know where Cree Farms is in Seabeck? I keep threatening to drive up and see how their Marans hens are. I really want to have some chickens one day.

May 07, 2009 11:11 PM #6
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