November 2009 Mason County Residential Sales Statistics

Washington home sales continued to outperform year-ago totals and prices continued to show signs of stabilizing, according to the news released from Northwest Multiple Listing Service this morning. Below is the residential sales statistics at our Mason County local level for the month of November, 2009.

New Listings: Total number of 72 listings, down 41% comparing to last month, down 9% comparing to the same month last year.
Average Days on the Market: 179
Median Listing Price: $228,500, down 2% comparing to last month, down 9% comparing to the same month last year.
- Arcadia area has the highest median listing price of $289,700, closely followed by Harstine Island $289,000. Hoodsport area has the lowest median listing priceof $175,000, followed by Agate area $176,500.

Pending Sale Listings: Total number of 59 listings, down 16% comparing to last month, up 47% comparing to the same month last year.
Average Days on the Market: 130
Median Pending Sale Price: $169,900, down 3% comparing to last month.
- Cloquallum/Matlock area has the highest median pending sale price of $260,000, followed by Union area of $242,000. Agate area has the lowest median pending sale price of $138,700, followed by Mason Lake area of $139,500.

Sold Listings: Total number of 55 listings, down 16% comparing to last month, up 96% comparing to the same month last year.
Average Days on the Market: 109
Median Sold Price: $175,000, up 4% comparing to last month, up 9% comparing to the same month last year.
- Hoodsport area has the highest median sold price of $220,000, followed by Union area and Belfair area both at $200,000. Agate area has the lowest sold price of $148,000, followed by Mason Lake area of $178,500.

(Above report compiled by PING Real Estate. Data source: NWMLS published data today Dec 03).


Below is the sales stats chart countywide for November 2009.

Zillow's Q3 Home Value Index for Shelton and Homeowner Confidence Survey

According to Zillow's Real Estate Market Reports for september, released today, Shelton home values were up 0.3% compared to August and down 13.2% compared to September 2008. Here is the home value curve.

http://www.zillow.com/local-info/WA-Shelton-home-value/r_50027/?scid=emm-2007143Q309ReProCity-bab

Below is the link to Zillow's newly released Q3 Homeowner confidence survey nationwide:

http://www.zillow.com/blog/homeowner-confidence-out-of-whack-but-can-you-blame-them/2009/11/17/?scid=emm-2007143Q309ReProCity-survey

While it's debatable how accurate Zillow's home value model for Shelton is, I think Zillow is still one of the valuable real estate sources out there. This upside down "V" curve home value trend for Shelton suggests that Shelton home values have stablized since mid of 2009 and are slowly and surely on it's way up. Zillow's Q3 Homeowner Confidence Survey also echoes that optimistic view. That's two bits of good news going into the winter holiday season.

10 Things to Take Trauma Out of Homebuying

Just read a great article today. I'm sharing those great tips with you all out there.

10 THINGS TO TAKE THE TRAUMA OUT OF HOMEBUYING

1. Find a real estate agent that's simpatico. Homebuying is not only a big financial commitment, but also an emotional one. It's critical that the agent you chose is both skilled and a good fit with your personality.

2. Remember, there's no "right" time to buy, any more than there's no right time to sell. If you find a home now, don't try to second-guess the interest rates or the housing market by waiting. Changes don't usually occur fast enough to make that much difference in price, and a good home won't stay on the market long.

3. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don't leave yourself short and let your home deteriorate.

4. Accept that a little buyer's remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but is also yields big benefits.

5. Choose a home first because you love; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home's most important role is as a comfortable, safe place to live.

6. Don't ask for too many opinions. It's natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.

7. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.

8. Don't try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to "win" by getting an extra-low price may lose you the home you love.

9. Remember your home doesn't exist in a vacuum. Don't get so caught up in the physical aspects of the house itself-room size, kitchen-that you forget such issues as amenities, noise level, etc., that have big impact on what it's like to live in your new home.

10. Don't wait until you've found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresoved issues will make your bid much less attractive to sellers.

New Rules Requiring Carbon Monoxide Monitor Installation in Washington Homes

Beginning in July 1, 2010, new construction homes in Washington will be required to comply with a carbon monoxide monitor requirement. In most cases, a battery operated, carbon monoxide monitor, costing less than $50, would detect carbon monoxide before it was concentrated enough to cause illness. When carbon monoxide is trapped in a residence, it can cause carbon monoxide poisoning, which, in the worst case, is fatal, causing death within minutes. In Washington alone, more than 1000 people reportedly suffereed carbon monoxide poisoning and eight died, in the aftermath of the 2006 windstorm. Some household sources of carbon monoxide include malfunctioning furnaces, water heater, ovens, stove, gas dryers, improperly vented free standing heaters, clogged chimneys, corroded flu pipes, and generators. Automobiles left running in attached garage pose a hazard, even if the garage doors are open.

Because carbon monoxide cannot be detected by human senses and because the effects of carbon monoxide poisoning can be devastating, the 2009 Washington Legislature passed a law requiring the Building Code Council to adopt a rule requiring installation of carbon monoxide monitors in Washington homes. The new rule will be in effect and all new construction must conform to the requirement by July 1, 2010

Source: Washington Realtors Magazine Sep/Oct 2009 Issue

October 2009 Mason County Residential Sales Statistics

New Listings: Total number of 122 listings, up 3% comparing to last month.
Median Listing Price: $222,500, down 8% comparing to last month.
- Allyn/Grapeview area has the highest median listing price of $291,695, followed by Union area of $279,700. Agate area the lowest median listing priceof $159,900, followed by Hoodsport area of $175,000.

Pending Sale Listings: Total number of 70 listings, down 16% comparing to last month
Median Pending Sale Price: $175,000, up 10% comparing to last month
- Allyn/Grapeview area has the highest median pending sale price of $234,950, followed by Union area of $225,000. Downtown Shelton area has the lowest median pending sale price of $163,200, followed by Agate area of $164,950.

Sold Listings: Total number of 65 listings, down 3% comparing to last month
Median Sold Price: $167,500, down 8% comparing to last month
- Hoodsport area has the highest median sold price of $297,500, followed by Union area of $253,750. Matlock area has the lowest sold price of $99,325, followed by Belfair area of $140,000.

Report compiled by PING Real Estate.



Here is the statewide sales stats for the month of October 2009:http://www.nwrealestate.com/nwrpub/common/mktg.cfm

$8000 Tax Credit Extension

This is a great news: Key lawmakers in the Senate have tentatively agreed to extend the existing $8,000 tax credit for first-time home buyers and also offer a new $6,500 credit for existing homeowners who have lived in their current residence for a consecutive five-year period in the past eight years.

That's the grease for the wheel to get us thru winter! Home buyers must be under contract by April 30, 2010, and close before July 1.

Union, One of the 20 America's Prettiest Small Town

Forbes Traveller chose Union as one of the 20 America's prettiest towns. That's pretty amazing. See the article below: http://www.forbestraveler.com/best-lists/americas-prettiest-towns-2009-slide-3.html?thisSpeed=25000.

Union is a crown jewel of Mason County. It has the unsurpassing views of Olympic Mountains and hood canal. It offers one of the best resort and spa in Pacific northwest, golfing, eatery, arts and entertainment. The Union Tourism Association has done a great job in promoting tourism in the region. They predicate Union will become "the" place to visit in Washington in the near future. The Halloween pumpkinfest event in Union between Oct 28 to Nov 1 marks the association's first bold effort in bringing the nearbouring counties to Union. For the event details, visit http://visitunion.com/More info about the town of Union can be found at http://www.explorehoodcanal.com/union-washington.html

Black Bear Sighting in Union

I saw a big black bear on my way home from office about 6:30pm yesterday. I was at the Stop sign by the Texaco gas station on Dalby Road. As I looked right, I saw a big black bear standing in the middle of McReavy Road. I didn't have a photo to prove but I swear it was a bear, not a giant cat! I’ve seen bears up close in their natural environment before in Yellowstone National Park. This is even a bigger one! By the time I realized it was a bear and reached to my camera, the bear jumped into the woods. An real estate agent friend of mine told me a couple of weeks ago she and her husband had spotted a bear almost in the same area. So this bear will be around the area for a while. Another thing I find interesting is how our brain works. If it's not a everyday thing/occurrence, it takes our brain a little while to register it. I can name so many instances like that.

September 2009 Sales Stats

Northwest MLS just published their residential sales stats for the month of September in Mason County:

- New Listings: Total 118 new listings
Median Price: $239,900, with Grapeview/Allyn area having the highest $322,000 and Agate area having the lowest of $177,250.

- Pending Sale Listings: Total 83 pending sale listings
Median Price: $159,000, with Union/Southshore area having the highest median price of $207,500 and Belfair/Northshore area having the lowest median price of $147,900.

- Sold Listings: Total 67 sold listings
Median Price: $181,500, with Harstine Island area having the highest median price of $367,500 and Mason Lake region having the lowest of $119,500.

Here is the sales stats statewide for the month of Sept:

http://www.nwrealestate.com/nwrpub/common/mktg.cfm

September real estate shows a jump in pending sales compared to a year ago, continued drops in inventory and brisk demand for homes at the lower end of the price spectrum. Distressed properties continue to be a drag on prices. The price drops as "a necessary adjustment given the number of short sales and bank owned property sales in the mix. (A survey by the National Association of REALTORS indicates distressed homes accounted for 31 percent of transactions in August and July.)

- Data source: NWMLS. Report compiled by PING Real Estate.

Virtual Staging

I'm sure you all have heard about staging a vacant home for sale. The idea of staging is to add rented furnitures to help prospects envision what the house could look like and how each space could be used. I'm not talking about conventional staging. I'm talking about a different kind of staging - virtual staging.

Unlike conventional staging, virtual staging uses computer technology to add furniture and other decor to photos, and even change wall colors. Since many buyers today narrow their showings based on online photos, virtual staging is an economic way to show the potential of a vacant property. "While there will always be strong demand for traditional home staging, this virtual staging technology is an affordable solution for cash-strapped sellers".

Check out some of the virtual staging websites www.obeo.com, www.punchsoftware.com, www.belightsoft.com.

Bye Summer. Hello Autumn!

Yesterday was the first day of autumn. Time goes fast when you are having fun. Time goes fast when you are in real estate business.

It's good to live in a place that has four seasons. Washington has four seasons. Visitors vacation here during the sunny summer months want to come back. Visitors visit here during the rainy autumn and winter seasons don't. Rest of locals reside here have to take it all, rain or shine, good or bad.

The first sign of early autumn is that autumn leave colors are turning from their young and lively green into vibrate burning red, fading away into mature golden and yellow, falling on ground, and finally taken away by rain water to rivers and streams. I updated my website today. Hope it captured the sign of autumn.

PING Real Estate New Office in Union

After almost one year's waiting and much anticipation, My PING Real Estate office was finally moved to the new office in the Union Square last week, just in time to joint efforts with other businessness in the Square to have hosted an Open House this Wed Sept 16 to showcase our businesses. We had a great turnout. A big thanks to you all who have come to the Open House and visited my new office.

Union http://www.visitunion.com/ is a central gateway to Shelton, Belfair, Hoodsport, Allyn and Grapeview. As the only real estate office in Union, my business will be an addition to the fast-growing business community. My new office location is in the Union Square on high traffic Dalby Road. The businesses in the same Square are Hood Canal Communications, Post Office, Church (soon to move out), PING Real Estate, Union Deli, Dogwood Construction, Falcon Financial, Union Salon/Spa, Health Fitness Center. It's about 1/4 mile from the 4-star Alderbrook Resort and Spa http://www.alderbrookresort.com/, Texo Gas Station and Alderbrook Golf & Yacht Club http://www.alderbrookgolf.com/golf/proto/alderbrookgolf/. Union as a small resort town is known for its spetacular moutain and water views, recreational and artsy activities.

Website for First Time Home Buyers

I want to share with you the following website. It has all the information you will need for first time home buyers, tax credit and information on how to work well in this market. If you are a first-time home buyer or know someone who is a first-time home buyer, please urge them to check out this website.

http://wahomeowners.com/

2009 August Sales Statistics

Hope you all had a relaxing Labor Day weekend! Below are the NWMLS sales statistics for August residential listings in Mason County:

Number of Listing Comparing August 2008:
Active Listings: 131 vs 141 - Down 17%
Pending Listings: 99 vs 86 - Up 10%
Sold Listings: 54 vs 64 - Down 16%

Average Price Comparing August 2008:
Active Listing Median Price: $239,900 vs $260,000 - Down 8%
Pending Sale Listing Median Price: $185,000 vs $189,000 - Down 2%
Sold Listing Median Price: $161,000 vs $201,500 - Down 20%

NWMLS News Release for August Statistics

Below are quoted from the published NWMLS news release for August Statistics:

Pending sales around Western Washington during August jumped nearly 21 percent from a year ago and inventory dropped more than 18 percent, according to new figures from Northwest Multiple Listing Service. MLS member-brokers say those indicators, along with signs of stabilizing prices, set the stage for brisk activity in the next few months as first-time buyers try to take advantage of the Nov. 30 deadline for tax credits.

On the downside, Estey said many transactions are missing their closing date "for seemingly irrational reasons." Last minute demands from lenders are common and final underwriting reviews are causing delays, she noted, adding, "Inexperienced appraisers are gumming up the works as well." She urges first-time buyers who want to capture the $8,000 tax credit to plan ahead and allow for delays.

On a cautionary note, Beeson expects a new round of bank owned properties to come on the market later this year and into next year. "This inventory will have to be absorbed over time and no one knows for sure just how this will influence prices," he acknowledged, adding, "The best guess is it will be negative, although we have experienced many foreclosures already on the market. . .with no appreciable drop in prices since the beginning of the year."
Summing up last month’s activity, Sparks of CBB, said, "A healthy, balanced market is in everyone’s best interest, and the August report tells us we’re definitely getting closer."

2009 July Sales Stats

I'm a few days behind in reporting the July sales stats this month. Well, better late than never. Below are the sales statistics for residential listings in Mason County published on MLS:

Number of Listing Comparing July 2008:
Active Listings: 160 vs 202 - Down 21%
Pending Listings: 77 vs 85 - Down 10%
Sold Listings: 58 vs 66 - Down 12%

Average Price Comparison
Active Listings: $306,298 vs $334,531 - Down 8%
Pending Sale Listings: $197,613 vs $230,006 - Down 14%
Sold Listings: $214,944 vs $212,233 - Up 1%

June 2009 Sales Statistics

Northwest Multiple Listing Service released its' June report on the 6th. The report shows inventory continues to shrink, pending sales increased from a year ago, and median prices system-wide are up 4.4 percent since January. Below are the statistics for Mason County.

Active Residential Listings: 162 in June 09 vs 208 in June 08 - Down 23%
Pending Residential Listings: 90 in June 09 vs 70 in June 08 - Up 28%
Sold Residential Listings: 46 in June 09 vs 62 in June 08 - Down 26%

Happy July 4th Weekend!

At this hour as there are still a few hours remaining from the end of the July 4th holiday, I wish you all a happy July 4th weekend. The technology advancement in the firework industry really shows in the sky on this July 4th. I'm amazed by some new firework display resembling smily face, earth-orbit, and heart, etc. Imagine it won't be long before we see American Flag fireworks shooting in the sky. Remember in the Beijing 2008 summer Olympics, they had the fireworks displaying numeric 2008 and image of footprint above the Birdsnest. So maybe the technology is already there.

June sales statistics are not in yet. However, in July, the legistratures have made a few important changes in regulations and legal forms. One thing might affect you as a property owner who has your property for sale or pending sale is the Seller Disclosure Form. Last week Northwest Multiple Listing Services announced changes to the Seller Disclosure Form, Form 17 (for resdiential) and Form 17C (for vacant land), and the changes will taken into effect the 4th week of July.

FYI. I treat my blog as a monologue in a play. So it's perfectly ok if it's just me blogging.

(Upper Photo: July 4th in Bremerton. Lower Photo: July 2nd at Alderbrook Resort )

May Real Estate Marketing and Statistics

Prices are showing signs of stabilizing, according to NWMLS data. Close in markets are the most active, with rural areas still lagging. Commenting on a recent report from the National Association of Realtors showing a third consecutive month of improving pending sales, buyers are responding to very favorable market conditions. “Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market. Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers.”

May sales statistics are in. Here are the figures for Mason County:
Active Listings - 182 in May 2009 vs 209 in May 2008; Inventory down: 15.06%
Pending Sale Listings - 73 in May 2009 vs 78 in May 2008; Down 6.41
Sold Listings - 56 in May 2009 vs 67 in May 2008; Price drop -14.15%

(Blogging from this location)

Happy Memorial Day!

Not that I need any holiday to validate any of my days, to celebrate, not to work, or to eat alot. If I really really need an excuse to celebrate, I probably can declare festivity on any given day like what George Costanza's dad Frank on "Jerry Seinfield". To work or not to work is NOT a question when you are self-employed - You can fire yourself and get a day off. My insatiable appetite for food matches that of Andrew Zimmerman "If it looks good, eat it!".

Holidays are holidays because of their historical, cultural and religious significance, and their traditional observance. So in that essence, there are no substitutions for them. But...come on. Honestly, how many of us even know the significance or observe the tradition of a holiday. Just as Christmas becomes more about Christmas shopping and Christmas decorations, Memorial Day is more about heating the barbecue grill than about commemorating the dead. To me, the reason why holidays are different than non-holidays is that not one but the collectives are doing the same thing. On that day, you are not the only one who celebrates, kicks back and eats alot. We all do! We had pork ribs, steak, corn, shollets, bell peppers on our grill. Life is good!

This section is supposed to be my real estate blog. Should I be talking about the weather and the real estate? Not really. 1. I don't want to sound like a broken record (yes, the May real estate market is still slow) 2. I got sidetracked by the holiday thing (I had too much fun to repeat 1.).

(Starfish on our Fudge Point beach on the Memorial Day)

April 2009 Sales Statistics

Swined out yet? If you are like me, sick and tired of the blown out-of-portion reports about the swine flu, make sure to look at the fine prints of daily news for the real news. Here is what's not in the headline news but it's definitely a piece of important news for all home owners and home buyers in Washington state. NWMLS published the sales statistics for April today. For the first month since last year, statewide, for the month of April this year, listing inventory is reported the lowest but pending sales see rebouncing. The pending sales rise is credited to improved affordable houses on the market and historically low interest rate, plus $8000 first-time home buyer credit. Mason County lagged behind the statewide numbers in April pending and sold listings.

For Mason County

Active Listings - 161 in Apr 09 vs 200 in Apr 08; Inventory down: 16.13%
Pending Sale Listings - 70 in Apr 09 vs 77 in Apr 08; Down 9.09
Sold Listings - 46 in Apr 09 vs 69 in Apr 08; Price drop -30.50%

New Signs of Real Estate Activities 3rd Week of April

With the unseasonal warm weather (yes!) coming our way as we enter into the 3rd week of April, the local real estate also started to warm up to some slow recovery. I have some agent showing activities on some of my listings this week, with one deal under contract. It won't be long before the market heats up. Let's keep the positive thought anyway!

According to recent estimates released by the U.S. Census Bureau, the Tri-Cities and Olympia had the highest percentage of growth among the state’s metropolitan areas since the 2000 census. Seattle-Tacoma-Bellevue, the state’s largest metro area, added the most residents in both time periods.

Just came back from my East Washington trip. It's that time of the year we usually get to see all the apple and cherry blossoms along the way. Because of the cold winter we had, lots of them were late on blooming this year. Nevertheless, it was a beautiful sight seeing some blooming apple farms here and there. I never knew apple blossoms had pink and white colors before this trip.

It's Tax Day!

To me, money is like a lot many things walking with its invisible legs. As if it were not bad enough I didn't know where the heck it went , I was given a task to chase it down at a deadline and then got penalized for taking the task . That's Tax Day USA feels like, and that's an understatement!

Back to real estate taxes, a little trivia: Washington’s real estate excise tax is among the nation’s highest. It generates a relatively small stream of revenue for state and local government, about 5 percent of the state general fund (Department of Revenue). Only New Hampshire’s 1.5 percent and Delaware’s 2 percent rates are higher than Washington’s state rate. Thirteen states do not tax real estate transfers at all. And in a number of other states, the tax amounts only to a minor recording fee (National Association of Realtors 2004).

Question:
Can home excise tax paid in Washington state be considered as tax credit or deductible?
Answer:
Excise tax is not sales tax and is not deductible. Sorry.

Happy Easter!

Happy Easter! It's the Resurrection Sunday and it's raining. We are expecting snow today but it has been raining so far. I'm sure the weather alone stopped many from egg hunting.

I painted over a dozen eggs, not marking the day itself, but remembering in the event it commemorates—the miracle.

March Sales Statistics

March sales statistics are in today. More dooming news for Mason County. Below are the figures in March this year comparing to March last year:

Number of new listings: down 15% (That's actually a good thing. Supply is less.)

Number of pending sale listings: down 19.33%

Closed sale prices: down 32.99%

It's obvious that in Mason County the price down-spin is largely due to the distressed and bank-repo properties, and most of the sold ones are those properties. Hopefully, as the market weeds them out, we will see a healthier market with price pickup.

Truth in Local Real Estate Market

Rather than love, than money, than faith, than fame, than fairness... give me truth. - Henry David Thoreau

Here is the truth in the local real estate market we have in Feb this year comparing to the same month in 2008:

New listings: 112 vs 165; -9.41%
Pending sale listings: 58 vs 59; -1.69%
Sold listings: 20 vs 38
Sell Prices fell -29.80%

March figures have not been published yet.