September 2010 Residential Sales Statistics for Mason County and Washignton State

What's happening:

Home sales remained subpar around most of Washington during September. There are some encouraging signs, among which month’s supply of inventory pointing toward a more balanced market, stabilizing prices with more homes being priced competitively, the market adjusting to no more tax credits, and strong sales of "specialty homes" - homes that have a unique mix of character and amenities. The three-county area of King, Snohomish, and Pierce are reporting about 6 months of inventory. That’s not to say we should expect prices to increase right away, but it’s a positive sign nonetheless, especially when the national supply of inventory is more than 11 months. Prospective buyers have plenty of choices across the price spectrum. The new pool of potential buyers are getting their feet wet, but they’re taking their time before they jump in.  "Crazy requirements" are impeding the pace of sales. If it’s not the conditions of an inspection report, it’s the appraisal coming in off sale price, or lenders reviewing and re-reviewing the buyer’s qualifications, or buyers rethinking whether or not to buy.

What's predicted:

The balance of the year is predicted to be "somewhat fickle," in part because of upcoming elections and lingering uncertainty around the slow pace of the recovery. Experts expect interest rate hikes. "It’s not if, it’s when." Interest rates below 5 percent are an extraordinary event, and buyers need to take advantage of them. Sellers know they must position themselves better than their competition on all levels – price, condition, terms. Buyers who procrastinate will risk losing purchasing power because of anticipated increases in interest rates.

Below is the residential sales statistics at our Mason County local level for the month of August, 2010.

New Listings:
- Listing Inventory: Total 112. ↓19% comparing to last month, ↓5% comparing to the same month last year.
- Average Days on the Market: 156 days.
- Median Listing Price: $219,000. ↓3% comparing to last month, ↓9% comparing to the same month last year.

Pending Sale Listings:
- Pending listings: Total 58. ↓21% comparing to last month, ↓31% comparing to the same month last year.
- Average Days on the Market: 148 days.
- Median Pending Sale Price: $181,500. ↓2% comparing to last month, ↑13% comparing to the same month last year.

Sold Listings:
- Sold Listings: Total 52. ↑23% comparing to last month, ↓20% comparing to the same month last year.
- Average Days on the Market: 205 days.
- Median Sold Price: $184,450. ↓6% comparing to last month, ↑4% comparing to the same month last year.

(Above report compiled by PING Real Estate. Data source: NWMLS published data Oct 4, 2010)


Below is the statistical summary by the counties statewide for September, 2010:

August 2010 Residential Sales Statistics for Mason County and Washington State

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What's happening:

Value is what’s selling in the current housing market. It is solidly a buyer’s market. The market is good for sellers who price their homes correctly. For single family homes (excluding condos), sold prices increased from 12 months ago in nine counties (Clark, Grays Harbor, King, Kitsap, Kittitas, Mason, San Juan, Skagit, and Thurston), led by San Juan (up 23.8 percent) and Mason (up 20.8 percent). Sixteen counties reported larger inventories than twelve months ago. Along with lower prices and record low mortgage interest rates, buyers have abundant inventory to consider, further bolstering their bargaining position. Relatively flat prices, together with the large number of foreclosed and short sales transactions, are reflective of a buyers’ market. The current pool of buyers are described as “value-hunters” with stable income and good credit. They’re taking the opportunity to purchase homes they couldn’t afford a few years ago. This pool includes first-time buyers as well as move-up buyers with strong equity in their existing home.

What's predicted:

Looking ahead, brokers and housing analysts expect a long, slow recovery of the housing market. Commenting on the latest activity report, MLS director Stenvers said, “I believe we are going to see this same type of market through the end of the year and into first quarter 2011. Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” he stated, adding, “Home buyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.”

News:
There will be a forthcoming change in annual mortgage insurance premiums, a change that can reduce purchasing power. Federal Housing Association is going to raise its annual mortgage insurance premiums by 3 percent on October 4. With FHA loans accounting for about half of all home loans, the change will affect a significant number of borrowers.

Below is the residential sales statistics at our Mason County local level for the month of August, 2010.

New Listings:
- Listing Inventory: Total 137. ↓23% comparing to last month, ↑4% comparing to the same month last year.
- Average Days on the Market: 151 days.
- Median Listing Price: $224,000. ↓3% comparing to last month, ↓7% comparing to the same month last year.

Pending Sale Listings:
- Pending listings: Total 73. ↑19% comparing to last month, ↓27% comparing to the same month last year.
- Average Days on the Market: 137 days.
- Median Pending Sale Price: $184,900. ↑5% comparing to last month, ↓1% comparing to the same month last year.

Sold Listings:
- Sold Listings: Total 42. ↓7% comparing to last month, ↓23% comparing to the same month last year.
- Average Days on the Market: 205 days.
- Median Sold Price: $194,500. ↑2% comparing to last month, ↑20% comparing to the same month last year.

(Above report compiled by PING Real Estate. Data source: NWMLS published data Sept 3, 2010)


Below is the statistical summary by the counties statewide for Aug, 2010:

July 2010 Residential Sales Statistics in Mason County and Washington State

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What's happening:

The MLS report showed that year-over-year increases in inventory, a double-digit decline in closed sales and a small drop in prices, and that both pending sales and median prices on closed sales showed slight improvement from the previous month. "The tax credit pulled some first-time buyers from the second half of the year into the first half.” Business was “typical” for July, usually a slow month because of vacations. One MLS director said the current market is being driven by people who “have to.” These include buyers who “have to buy” and sellers who “have to sell,” with a good deal of buyers and sellers still sitting on the sidelines waiting. On some positive notes: There was an increased sales in the higher-end market in July since there’s been a “reality check” on pricing at the higher end, marked by price drops and a corresponding uptick in activity; Also we see some encouraging activity for newly built homes. We see sales occurring in new construction where large builders have reset their prices to 2004 levels. Sales are brisk among first-time buyers in this market. New home sales activity is trending up in the Puget Sound region.
 
What's predicted:

There could be a couple of additional months of slow home-sales activity before picking up later this year, providing the economy continues to add jobs. We’ve turned the corner on home prices and they should remain fairly stable over the balance of the year, but we really need to see stronger job creation to have a meaningful recovery in the housing markets. Consumer confidence is ebbing and that makes major purchases even more difficult to initiate or even contemplate. If the job picture improves even slightly later this year, we will see an uncharacteristic uptick in sales in the final quarter. It's also believed that there’s a pent-up demand based on the number of pre-approvals for loans in the mortgage company’s pipeline. Many of these potential buyers are expected that they "will pull the trigger” once rates or prices start edging up. In this market, sellers must focus on the condition, amenities and pricing of their properties in order to obtain a sale in this very strong buyer’s market. Buyers who procrastinate while waiting for a better time to purchase may risk looking back in hindsight bemoaning the opportunity that passed them by.

Per the Data by Moody's Analytics, Washington fared “4th best state” for building a nest egg and has the country’s most promising real estate market in the near term, according to an index created by U.S. News that considered each state’s housing market, unemployment rate, per capita income, and taxes. Citing data by Moody’s Analytics, the report indicated home prices in the state are expected to surge by “a whopping 6.6 percent per year” between 2010 and 2013.
Below is the residential sales statistics at our Mason County local level for the month of July, 2010.

New Listings:
- Listing Inventory: Total 176. ↑13% comparing to last month, ↑10% comparing to the same month last year.
- Average Days on the Market: 146 days.
- Median Listing Price: $229,000. ↓1% comparing to last month, ↓8% comparing to the same month last year.

Pending Sale Listings:
- Pending listings: Total 61. ↑27% comparing to last month, ↓21% comparing to the same month last year.
- Average Days on the Market: 145 days.
- Median Pending Sale Price: $174,900. ↑2% comparing to last month, ↓1% comparing to the same month last year.

Sold Listings:
- Sold Listings: Total 45. ↓19% comparing to last month, ↓23% comparing to the same month last year.
- Average Days on the Market: 178 days.
- Median Sold Price: $190,000. ↑29% comparing to last month, ↑4% comparing to the same month last year.

(Above report compiled by PING Real Estate. Data source: NWMLS published data Aug 5, 2010).


Below is the statistical summary by the counties statewide for July, 2010:

June 2010 Mason County Residential Sales Statistics

What's happening:

The benchmark 30-year fixed-rate mortgage fell to 4.75 percent, according to the Bankrate.com national survey of large lenders. That’s the lowest rate for the 30-year fixed in the nearly 25-year history of Bankrate's weekly survey. Freddie Mac reported an average of 4.58 percent, the lowest level in more than five decades. With prices down and mortgage rates at their lowest in 50 years, homes are more affordable now than they were before the tax credit went into effect. However, the economy is still recovering and that makes some consumers hesitant to buy and as kids get out of school people rush to embrace summer, home sales around Western and Central Washington remained sluggish with pending sales lagging year-ago levels.

What's predicted:

Asked if now is the right time to buy, Grimm replied, “You can’t time the real estate market any more than you can time the stock market,” but added, “If you want to buy a home, and can afford it, I haven’t seen a better convergence of affordable prices and low interest rates in the 25 years I’ve been working in real estate.”. Mark Fleming, chief economist for CoreLogic, said economists at that California-based firm see a U-shaped recovery, similar to the 2000 recession, but with a longer, more pronounced bottom. Because of various factors at play, including the expiration of the tax incentives and various mortgage modification programs affecting distressed properties, he expects the real estate market to “sag through the summer and slower cooler months,” but believes it will eventually grow in line with economic and income growth “as we put the great recession further behind us.”

Below is the residential sales statistics at our Mason County local level for the month of June, 2010.

New Listings:
- Listing Inventory: Total 155. =same comparing to last month, ↓5% comparing to the same month last year.
- Average Days on the Market: 142 days.
- Median Listing Price: $229,450. ↑0.2% comparing to last month, ↓9% comparing to the same month last year.

Pending Sale Listings:
- Pending listings: Total 48. ↓13% comparing to last month, ↓42% comparing to the same month last year.
- Average Days on the Market: 150 days.
- Median Pending Sale Price: $169,961. ↑13% comparing to last month, ↓11% comparing to the same month last year.

Sold Listings:
- Sold Listings: Total 55. ↓9% comparing to last month, ↑14% comparing to the same month last year.
- Average Days on the Market: 175 days.
- Median Sold Price: $147,000. ↓9% comparing to last month, ↓19% comparing to the same month last year.

(Above report compiled by PING Real Estate. Data source: NWMLS published data July 5, 2010).

Below is the statistical summary by the counties statewide for June, 2010:

Top 10 Cities to Buy vs Rent / Rent vs Buy

Today Trulia announced America’s Top 10 Cities to Buy vs. Rent and the Top 10 Cities to Rent vs Buy. Trulia calculated the price-to-rent ratio using the average list price compared with average rent on 2 bedroom apartments, condos and townhomes listed on Trulia.com. To create the list, Trulia analyzed the largest 50 cities in America, by population.

Top 10 Cities to Buy vs. Rent

1. Minneapolis, Minnesota 8
2. Arlington, Texas 8
3. Miami, Florida 8
4. Fresno, California 8
5. San Antonio, Texas 8
6. Mesa, Arizona 9
7. Jacksonville, Florida 9
8. Phoenix, Arizona 10
9. El Paso, Texas 10
10. Las Vegas, Nevada 11

“At the peak of the real estate bubble, cities like Miami, Phoenix and Las Vegas were not affordable for many. Now the opposite is true,” said Pete Flint, co-founder and CEO of Trulia. “Home sellers in these hard hit areas are forced to lower their prices to compete with all the foreclosures on the market. As a result , these unattainable markets are so affordable it makes better financial sense to buy than rent.”

Top 10 Cities to Rent vs. Buy

1. New York, New York 33
2. Omaha, Nebraska 26
3. Seattle, Washington 25
4. Portland, Oregon 22
5. San Francisco, California 22
6. Oklahoma City, Oklahoma 21
7. Kansas City, Missouri 20
8. San Diego, California 20
9. Cleveland, Ohio 20
10. Dallas, Texas 19

“It is not a surprise to see cities like New York and San Francisco on the ‘Rent’ cities but I was surprised to see areas like Omaha, Oklahoma City and Kansas City on our rental list, “said Flint “We’re not suggesting that it’s unwise to buy in these areas, though - just that it’s significantly more expensive than renting. In many of these cities, even though home buying is much more costly than renting, prices are still much lower than they have been in a long, long time.”

Top 50 City Rent v Buy Index
Comparing 2 bedroom Apts/Condos/Townhouses

City State Average   Listing Price/Rent/Price-to-Rent Ratio
Minneapolis MN         $ 153,844    $ 1,700       8
Arlington TX               $ 72,422      $ 789          8
Miami FL                    $ 189,566    $ 2,019       8
Fresno, CA                 $ 90,446      $ 936          8
San Antonio TX          $ 89,068      $ 884          8
Mesa AZ                    $ 71,317      $ 697          9
Jacksonville FL           $ 92,488      $ 870          9
Phoenix AZ                $ 100,535     $ 883          9
El Paso TX                 $ 95,388       $ 770        10
Las Vegas NV           $ 128,815     $ 983         11
Detroit MI                  $ 151,726     $ 1,128     11
Houston TX               $ 164,487     $ 1,163      12
Baltimore MD            $ 187,998     $ 1,300      12
Tucson AZ                 $ 129,800     $ 879         12
Long Beach CA         $ 260,449     $ 1,746      12
Austin TX                  $ 165,326     $ 1,101      13
Virginia Beach VA     $ 178,522     $ 1,093      14
Sacramento CA         $ 152,696     $ 934         14
Washington DC         $ 469,150     $ 2,773      14
Oakland CA              $ 278,245     $ 1,625      14
Albuquerque NM      $ 137,110     $ 792         14
Raleigh NC               $ 146,010     $ 840         14
San Jose CA             $ 298,621     $ 1,691     15
Chicago IL                $ 303,085     $ 1,697     15
Charlotte NC            $ 168,620     $ 929        15
Colorado Springs CO $ 144,074   $ 773        16
Indianapolis IN          $ 141,486    $ 752        16
Honolulu HI               $ 583,858    $ 3,080     16
Columbus OH           $ 143,267    $ 739        16
Los Angeles CA        $ 491,055    $ 2,460     17
Boston MA               $ 536,956    $ 2,623     17
Milwaukee WI          $ 271,040    $ 1,322     17
Atlanta GA                $ 244,610    $ 1,193    17
Nashville TN             $ 221,377    $ 1,078    17
Tulsa OK                  $ 144,454    $ 700       17
Philadelphia PA         $ 323,912    $ 1,523    18
Denver CO               $ 283,432    $ 1,315    18
Louisville KY            $ 157,667    $ 720       18
Memphis TN            $ 164,226    $ 747       18
Dallas TX                 $ 293,767    $ 1,324    18
Cleveland OH          $ 246,895    $ 1,046     20
San Diego CA          $ 396,409    $ 1,670    20
Kansas City MO      $ 240,076    $ 992       20
Oklahoma City OK  $ 195,663    $ 763       21
San Francisco CA    $ 774,728    $ 2,996    22
Portland OR             $ 307,858    $ 1,145    22
Seattle WA              $ 461,330    $ 1,546    25
Omaha NE              $ 275,844    $ 870       26
Fort Worth* TX      $ 328,076    $ 907       30
New York NY        $ 1,383,612 $ 3,538    33

Trulia.com’s Rent vs. Buy Index - Interpretation Key

Price-to-Rent Ratio of 1-15: It is much less expensive to own than to rent a home in this city Price-to-Rent Ratio of 16-20: It is more expensive to own a home in this city are The total costs of ownership of a home in this city are greater than the costs of renting, but it might still make financial sense depending on the situation. Price-to-Rent Ratio of 21+: The total costs of owning a home in this city are much greater than the costs of renting.

Definitions: Total costs of home ownership include mortgage principal and interest, property taxes, hazard insurance, closing costs at time of purchase and ongoing HOA dues and private mortgage insurance, where applicable. Total costs of homeownership include an offset for the tax advantages of homeownership, including mortgage interest, property tax and closing cost deductions.

Total costs of renting include rent and renter’s insurance.

(Information source: Trulia.com)

After Hour Event Thursday June 10th 5-7pm

Location: Dalby Road in Union
Date: June 10, 2010
Time: 5 to 7pm

Union Square businesses including PING Real Estate and Hood Canal Communications will host the Chamber's June After Hours on Thursday, June 10 from 5 to 7pm. Everyone is invited! The Union Square is located on Dalby Road in Union. Travel down State Route 106 and take the first left just past Alderbrook Resort (at Cameo Boutique).

PING Real Estate will be serving hotdogs. KMAS Radio will be playing "Oldies" music. Come to enjoy wine, appetizers, and desserts while meeting us business owners in Union Square, and entering in raffles for prizes such as Seahawks tickets, personal training and gift baskets!

Businesses:
Union Square Deli
Dogwood Construction
Falcon Financial
The Salon at Union Square
Union Visitor Information Center
PING Real Estate
Union Square Fitness
Our Community Credit Union

May 2010 Mason County Residential Sales Statistics

What's happening:

According to the News Release by Northwest Multiple Services on June 4, home sales during May tapered off around Washington state following a surge of activity in April as buyers hustled to meet deadlines for tax credits. Leading up to its expiration, the tax credit caused a surge of home sales, but a surge can only be sustained for so long. Listing activity also sagged during May after strong upticks in March and April during the buildup before the incentives lapsed. The slowdown during May was due in part to the end of the incentive program, but overall activity so far this year is stronger than a year ago.

What's predicted:

The extremely low interest rate is expected to last through the summer and into fall, which will help give a nudge to buyers that no longer can look to the tax credit for incentive. As the market returns to normal, home values may continue to decline in some parts of Washington state and within some price ranges. The tax credit pulled sales into April at the expense of the remainder of the spring buying season. Quoting the remarks of one real estate company CEO: "What we’re seeing now is a natural adjustment. As consumer confidence continues to improve in the coming months, we expect to see the buyer pool replenish itself which should be followed by an increase in home sales.”

Below is the residential sales statistics at our Mason County local level for the month of May, 2010.

New Listings:
- Listing Inventory: Total 155. ↓20% comparing to last month, ↓14% comparing to the same month last year.
- Average Days on the Market: 142 days.
- Median Listing Price: $229,000. ↓1% comparing to last month, ↓9% comparing to the same month last year.

Pending Sale Listings:
- Total 55 pending listings. ↓32% comparing to last month, ↓24% comparing to the same month last year.
- Average Days on the Market: 124 days.

- Median Pending Sale Price: $149,900. ↓18% comparing to last month, ↓11% comparing to the same month last year.

Sold Listings:
- Total 60 Sold Listings: ↑22% comparing to last month, ↑7% comparing to the same month last year.
- Average Days on the Market: 157 days.
- Median Sold Price: $160,400. ↓15% comparing to last month, ↓1% comparing to the same month last year.

(Above report compiled by PING Real Estate. Data source: NWMLS published data June 5, 2010).

Below is the statistical summary by the counties statewide for May, 2010:

April 2010 Mason County Residential Sales Statisitics

What's happening:

According to the News Release by Northwest Multiple Services on May 5, “While the tax credit has gone away, the buyers haven’t", MLS figures show inventory is nearly equal to year-ago levels, closed sales jumped almost 51 percent, and sales prices in many areas reflect little variation during the past six months. With pending sales outperforming a year ago. the months’ supply (an industry indicator of sales velocity) is shrinking. System-wide, there’s about a 4.24 month supply, meaning at the current sales rate, if no other homes were put on the market it would take just over four months to exhaust the supply. For the four-county Puget Sound market, there is a supply of about 3.5 months.Prices continue to show modest dips from a year ago, with the overall median price, at $261,000, down 3.3 percent from twelve months ago. Compared to January, half the counties in the MLS service area are showing increases in median prices.

What's predicted:

The tax credit seems to have accomplished its purpose. It motivated home buyers to enter the market place, creating a synergy that should propel us through the summer months. As long as sellers remain realistic about the market value of their homes and the expectations of buyers, the strength of the market will grow. Also reported is an uptick in new construction activity as some builders have resumed buying land at reasonable prices. If buyers want to have a variety of houses from which to choose, this is a good time for them to look. The combination of current availability and incredibly low interest rates offers home buyers a tremendous opportunity. Moving forward, local home buyers will continue to experience a purchase power advantage thanks to historically low interest rates and lower adjusted home prices.

Below is the residential sales statistics at our Mason County local level for the month of April, 2010.

New Listings:
- Listing Inventory: Total 192. ↑14% comparing to last month,  ↑19% comparing to the same month last year.
- Average Days on the Market: 140 days.

- Median Listing Price: $230,000. Same = comparing to last month, ↓ 8% comparing to the same month last year.

Pending Sale Listings:

- Total 80 pending listings, ↑ 2% comparing to last month, ↑ 14% comparing to the same month last year.
- Average Days on the Market: 125 days
- Median Pending Sale Price: $181,998, ↑ 9% comparing to last month, ↓ 5% comparing to the same month last year.

Sold Listings:

- Total 49 Sold Listings: ↑11% comparing to last month, ↑6% comparing to the same month last year.
- Average Days on the Market: 117 days
- Median Sold Price: $187,000, ↑11% comparing to last month, ↑35% comparing to the same month last year.

(Above report compiled by PING Real Estate. Data source: NWMLS published data May 5, 2010).

Below is the statistical summary by the counties statewide for April, 2010:

March 2010 Mason County Residential Real Estate Sales Statistics

What's happening:
According to the News Release by Northwest Multiple Services yesterday, home sales around Washington state surged last month. Northwest MLS brokers report 51% jump in pending sales, led by Snohomish County and King County. Notably, while entry-level home sales have been driving the market, brokers also reported strong activity at the upper end of the price spectrum. MLS brokers also reported year-over-year increases in the number of new listings added to inventory and in the volume of closed sales. "Sale activity is at a high level like we haven't seen in a while, but still not in the frenzy we saw a few years ago. Homes that are positioned well - at every price range - are selling quickly".

What's predicted:
The momentum is expected to continue in the coming weeks as the April 30 expiration of the tax credit approaches. Please go to my Blog Archive to read other two blogs on USD loan and Loan Interest prediction. I also believe that the buyers' buying ability might be affected by the loan program and the potential changing interest rate in the months to come so there is some market uncertainty later this year.

Below is the residential sales statistics at our Mason County local level for the month of March, 2010.

New Listings:
- Listing Inventory: Total 168 listings, up 20% comparing to last month, up 13% comparing to the same month last year.
- Average Days on the Market: 145 days
- Median Listing Price: $229,900, up 2% comparing to last month, down 5% comparing to the same month last year.

Pending Sale Listings:
- Total 78 pending listings, up 44 % comparing to last month, up 14% comparing to the same month last year.
- Average Days on the Market: 125 days
- Median Pending Sale Price: $166,000, up 12% comparing to last month, up 18% comparing to the same month last year.

Sold Listings:
- Total 44 Sold Listings: up 12% comparing to last month, up 46% comparing to the same month last year.
- Average Days on the Market: 113 days
- Median Sold Price: $158,000, up 8% comparing to last month, up 21% comparing to the same month last year.

(Above report compiled by PING Real Estate. Data source: NWMLS published data yesterday April 5).


Below is the statistical summary by the counties statewide for March, 2010:

Traveler Days in Union, WA - 2010

The month of May will be an exciting month for the people of Union. Union Tourism Association (UTA) is launching its first ever Traveler Days in May. As an active member of the association, PING Real Estate is participating in these events along with all the other business owners in Union. Ping Real Estate is also next door to the new office of Union Tourism Association Visitor Information Center so we look forward to seeing you at the grand opening event on May 1 as well as all the other events for the upcoming Traveler Days. Below are some of the schedules posted in the March UTA newsletter.

WEEKEND TWO - May 1 & 2

GRAND OPENING - Union Tourism Association Visitor Information Center - Sat 11AM
A major milestone, the Union Tourism Association will be opening a dedicated Visitor Information Center at Union Square, Saturday morning May 1. Join us at 11AM for a formal ribbon cutting ceremony and to tour the new space. The center is being outfitted to provide not only a wide range of visitor information on dining, lodging, recreational and retail opportunities in our area, but also as a gallery space that will feature a rotating display of local artists' work and showcase Union's rich arts history.

SEASON OPENING - Hood Canal Open Market - Sat 1-7PM
The long-standing collaboration between our local artist community and Robin Hood Village will enter an exciting new stage with the launch of the Hood Canal Open Market, a variety market featuring live music and spoken word performances, farm fresh produce, art, crafts, collectibles and more, every Saturday during the height of the season! (Want to participate? Contact howard@leggettartstudios.com.)

Pub Poetry Slam/Spoken Word Performance - Sat 7PM
The spoken word version of a musical open mic night, this evening will feature a range of local poets, actors and story-tellers sharing anecdotes, literature, poems, classic radio plays and stories in a lively spoken format at the wonderfully intimate Robin Hood Pub beginning at 7PM.

Culinary Arts / Wine Class Series - Sun 11:30AM - 1PM - 2:30PM
Any excuse to visit the remarkable private estate of The Bend at Hood Canal is exciting. But on Sunday, May 2 a limited number of folks will have the opportunity to participate in a truly exciting series of cooking and wine classes in The Bend's remarkable main kitchen. The first class, beginning at 11:30AM, will combine the culinary skills of Chef Mike Holbein of Robin Hood with the organic local produce of Highwater Farms in a basic skills class that will introduce participants to the fundamentals of planning a meal on a theme, carrying that theme through sides and separate courses, as well as particulars such as gauging proper doneness, plating and presentation. The 11:30 class will explore these topics on a meat-based menu; the 2:30 class will explore the same concepts through a seafood-based menu. In between, award-winning vintners Lloyd and Ann Anderson of Walter Dacon Winery will teach a class on the basics of wine tasting including tips on distinguishing separate notes in a wine, proper glassware and more. Price for each individual class is $25 per person per class and registration is limited (proceeds benefit the Union Tourism Association). To register reply to this email (or send an email to info@visitunion.com).

Cameo Boutique Open House - Sat & Sun 10AM-5PM
The 2008 Best Ladies Boutique in the Northwest continues its Traveler Days celebration with another two days of free wine tastings, and will feature writer Valerie Johnson who will be on-hand autographing her book on Saturday, May 1 from noon to 3PM; as well as author and historian Mike Fredson who will sign copies of his book Sunday, May 2 at 11AM.

Lady Alderbrook Historic Water Tour - Sun 2PM
Join local historian (and fifth generation Unionite) Mike Fredson for a cruise around the Great Bend and a lecture on our community's rich history. Produced by the McReavy House Museum of Hood Canal, the lovely Lady Alderbrook will depart from the Alderbrook Resort & Spa dock at 2PM for a two-hour cruise (you'll want to arrive early to reserve your seat) and includes cocktail snacks and a no-host bar. Tickets are $50 per person and are available by contacting Howard Leggett at 898-1717 or Dana Porter at 898-0101. (Proceeds benefit the McReavy House Museum of Hood Canal.)


WEEKEND THREE - May 8 & 9

Artist Open Studio/Tour of Lodging Event - Sat & Sun 10AM-6PM
Over a 15 local artists, including watercolorists and oil painters, a scultpor, native artists, photographers and more are participating in this year's first combined open studio/tour of lodging event. Designed to showcase both the area's rich arts community and the wide variety of lodging options available for an overnight visit to the south shore, four separate locations will each feature a unique and carefully chosen subset of both! At the Cameo Boutique Cottage the tour will feature information on the variety of local lodging options well suited for romantic weekends. At the Nordstrom Great Hall at Harmony Hill Retreat Center will be information about lodging and sites appropriate for weddings, family reunions and larger special events. And at the new Alderbrook Golf Clubhouse will be information on family-friendly and activities-based lodging options. All three locations will also host a number of local artists who will be displaying their work (and some who will be actively working on new work) on site during the tour. You'll want to start your tour at the fourth location, the Union Tourism Association Visitor Information Center at Union Square, which will feature information on all the artists and lodging institutions participating plus a collection of individual works donated by the participating artists in support of the UTA's efforts!

Traveler Days Cocktail Party & Art Auction - Sat Time TBA
Saturday evening join us at the Alderbrook Golf Clubhouse for a finale special event to raise funds for the Union Tourism Association's efforts in our community. This exciting group effort involving a wide variety of UTA member organizations will feature a special cocktail and hors d'oeuvres menu assembled by the culinary artists at the Robin Hood specially to accompany the works of art to be auctioned off. Those works, donated in support of the UTA by the artists participating in the open studio tour, will be auctioned to raise funds that will in turn be used to further the UTA's mission: to build tourism in our community in ways that support and nourish Union's unique culture and character. Save the date!

Harmony Hill Mother's Day Brunch & Plant Sale - Sun 10AM-4PM
In celebration of Mother's Day, the remarkable hospitality crew at Harmony Hill Retreat Center is assembling a special brunch menu which will be served on site just as Harmony Hill's renowned gardens come into bloom. Featuring two seatings (one at 10AM, the second at 11:30AM) the cost is $25 per person ($10 for children 12 and under) and advance reservations are required (and can be made by calling 898-2363). Harmony Hill will also be launching its first annual plant sale, featuring flower and vegetable starts that day until 4PM - an excellent opportunity to visit the Hill and tour the gardens just as they're taking off for the season!

Will mortgage interest rate go up later this year 2010?

I have been getting a lot of updates lately from the mortgage industry about their speculations that interest rates might go up later this year after the Fed's stop buying mortgage backed securities on March 31, 2010. I just received the Realtor magazine April issue. It predicts higher interest rate. It says "The Fed's commitment ends March 31 - and while the full impact won't be known for several months, it's almost certain to cause rates to rise. NAR Chief Economist Lawrence Yun anticipates an increase of 30 basis point (100 basis points equals a 1 percent change), but he notes that home sales shouldn't be heavily impacted as long as the economy keeps growing and jobs are created. Of course, rates could inch up independently of this action, because with economic growth comes increased demand for loans".

For more details of the Fed's plan to end mortgage intervention on March 31, see the link here. http://www.nytimes.com/2010/03/17/business/17fed.html

USDA Loans Will Be Out Of Funds Soon

I received an email from a senior Wells Fargo loan consultant today regarding USDA loans. In short, she informed us the news that USDA loans will be out of funds soon. For those of you who have never heard of USDA loans, below is the brief definition I found online. You can also visit the USDA official site: http://www.usda.gov/.

"A USDA Guaranteed Loan is Government insured 100% purchase loan. These Loans are only offered in rural area's and serviced by direct lenders that meet federal guideline's."

Mason County in Washington state is considered a rural area. Many of the homes on the market for sale qualify for USDA loans so this news will affect many home buyers in Mason County who want to take advantage of the USDA loans in purchasing your future homes.

USDA will be out of fund and will not be giving conditional commitment to funding....... so no new applications are being taken at this time....

Please ready and take action....

Every year USDA runs out of money for their fundings and normally you are not affected by this however, this year is very different. The USDA Section 502 guaranteed Rural Housing Program will have exhausted there 2010 fiscal funds by the end of April. The USDA would need to receive about 150 million in funding to be able to continue funding loans for the rest of fiscal year 2010.
In past years USDA has appropriated funds from other areas to make up for the shortfall in funding dollars giving lenders the oppurtunity to continue to fund USDA loans. Why is this year any different then past years? USDA is removing the “subject to receipt of appropriated funds” from their conditional commitments meaning there is no guarantee that lenders will be able to guarantee the loan and fund it. Why are they doing this? The money usually runs out around the end of the government’s fiscal year which is September 30th and USDA basically tells everyone we’ll get you’re funding commitments either this year or next. Since the money is running out so early in the fiscal year USDA is not sure where the money will come from therefore will not put “subject to receipt of appropriated funds” on their conditional commitments. Last year the money ran out in March but the stimulus provided the gap funding to carry the program thru to the end of the year but this year there is no stimulus money.

What can you do as a Realtor, Builder, Developer or loan officer? You need to contact your US Congressman, US Senator, professional lobby and employer to get them working on a solution because if this happens many homeowners will be left out on their loan closing because it simply won’t happen. The USDA loan program is a wonderful program for Rural America. The program is ran very efficiently and the default rate on USDA loans are much lower than FHA or other financing programs.

Union Visitor Information Center and Our Community Credit Union Coming to Union Sqaure

Here are the two pieces of exciting news for Union residents coming to this Spring.

- The new Union Visitor Information Center office is coming to the office next door to my office on May 1. Union Tourist Association is sponsoring the Information Center.

- "Our Community Credit Union" is coming to the corner building in the same square in a couple of weeks. The ribbon cutting ceremony for the Grand Opening of the Credit Union will be on April 7.

February 2010 Mason County Residential Real Estate Sales Statistics

What's happening:
Improving consumer confidence and a looming deadline for homebuyer tax credits are helping to boost activity. Both pending sales and closed sales in February outperformed year-ago totals . We are entering what is traditionally our busiest home selling season. Prices, while showing signs of stabilizing, still lagged year-ago figures. Move-up buyers are accounting for some of the surge in activity. Brokers credit the combination of a $6,500 tax incentive for qualified repeat buyers and thawing jumbo loan market as factors in spurring activity for February.

Market prediction:
We can see and hear the rumblings of pent-up demand from buyers, adding spring and summer sales to outpace last year because there are such good price values in the market. They are reminding buyers of the possibility of rising mortgage interest rates due to the Federal Reserve’s plan to stop buying mortgages by the end of March. Earlier in the week, the state Employment Security Department reported the state’s economy "picked up some steam in January," adding an estimated 12,400 jobs the first monthly gain since November 2008. As the peak real estate season is approaching, we see several encouraging signs. "Homes are more affordable, mortgage rates are at all-time lows, and employment in the state appears to be on the rise. All signs point to a strong spring." one broker added.

Below is the residential sales statistics at our Mason County local level for the month of February, 2010.

New Listings:
- Listing Inventory: Total 140 listings, down 5% comparing to last month, up 26% comparing to the same month last year.
- Average Days on the Market: 152 days
- Median Listing Price: $224,975, up 2% comparing to last month, down 5% comparing to the same month last year.

Pending Sale Listings:
- Total 54 pending listings, down 4 % comparing to last month, down 7% comparing to the same month last year.
- Average Days on the Market: 125 days
- Median Pending Sale Price: $147,225, down 13% comparing to last month, down 8% comparing to the same month last year.

Sold Listings:
- Total 39 Sold Listings: down 19% comparing to last month, up 95% comparing to the same month last year.
- Average Days on the Market: 118 days
- Median Sold Price: $145,000, down 9% comparing to last month, down 2% comparing to the same month last year.

(Above report compiled by PING Real Estate. Data source: NWMLS published data today Narch 4).

Below is the statistical summary by the counties statewide for Feb, 2010:

January 2010 Mason County Residential Real Estate Sales Statistics

Per the NWMLS news release today, "more certainty" and "more stability" in the market contributed to a boost in activity during January 2010. Brokers reported an increase in pending sales from December and a jump from twelve months ago. Two other indicators of activity fell - inventory and sales prices. "The market has definitely picked up, with more interest and action by buyers. Sellers are expecting better results this year than last year, but not necessarily higher prices," said one broker.

Below is the residential sales statistics at our Mason County local level for the month of January, 2010.

New Listings:

Listing Inventory: Total 146 listings, up 87% comparing to last month, up 8% comparing to the same month last year.

Average Days on the Market: 161 days

Median Listing Price: $219,500, down 3% comparing to last month, down 9% comparing to the same month last year.

Pending Sale Listings:

Total 56 pending listings, up 33 % comparing to last month, up 36% comparing to the same month last year.

Average Days on the Market: 120 days

Median Pending Sale Price: $168,250, up 10% comparing to last month, up 12% comparing to the same month last year.

Sold Listings:

Total 48 Sold Lisitngs: down 22% comparing to last month, up 252% comparing to the same month last year.

Average Days on the Market: 111 days

Median Sold Price: $161,000, up 4% comparing to last month, down 6% comparing to the same month last year.

(Above report compiled by PING Real Estate. Data source: NWMLS published data today Feb 4).

Below is the statistical summary by the counties statewide for January 2010:

December 2009 Mason County Residential Sales Statistics

December 2009 Mason County Residential Sales Statistics

Per the NWMLS news release today, "Home for the holidays" took on special meaning this December. Pending sales statewide were up more than 35 percent from a year ago and marked the best December since 2006. Citing the remarks from one owner/broker of Windermere in Tacoma, the market is "chugging along," despite hurdles associated with the lending market, appraisals and foreclosures. The large volume of foreclosures has driven down prices–something he believes will persist throughout much of this year. First time buyers will still lead the charge in sales.


Below is the residential sales statistics at our Mason County local level for the month of Necember, 2009.

New Listings: Listing Inventory 78 listings, up 8% comparing to last month, up 44% comparing to the same month last year.
Average Days on the Market: 184 days
Median Listing Price: $225,000, down 2% comparing to last month, down 7% comparing to the same month last year.


Pending Sale Listings: Total 42 pending listings, down 29 % comparing to last month, up 68% comparing to the same month last year.
Average Days on the Market: 145 days
Median Pending Sale Price: $151,875, down 11% comparing to last month, down 14% comparing to the same month last year.


Sold Listings: Total 61 Sold Lisitngs: up 10% comparing to last month, up 79% comparing to the same month last year.
Average Days on the Market: 131 days
Median Sold Price: $153,500, down 13% comparing to last month, up 20% comparing to the same month last year.

(Above report compiled by PING Real Estate. Data source: NWMLS published data today Jan 06).


Below is the sales stats chart countywide for December 2009.