NW Real Estate Community News March 2010
Northwest MLS reported strong gains in home sales for February; with improving consumer confidence & the future deadline for homebuyer tax credits helping to boost activity.
Traditionally Spring is our busiest home selling season," said a NWMLS director. "With the first job increases since 2008 and closed sales in King County up about 45 percent, there is every indication that our market is starting to recover," he added.
Pending sales overall jumped nearly 45 percent last month compared to a year ago, marking the 11th straight month of month-over-month increases. Twelve of the 21 counties in the MLS market areas reported double-digit gains in pending sales, led by San Juan County (up 85.7 percent), Snohomish County (up nearly 71 percent) and King County (up nearly 63 percent).
Closed sales overall also outperformed year-ago totals, rising 33.5 percent.
Prices still lagged behind year-ago figures. Area-wide, the median price for last month's closed sales of single family homes and condominiums (combined) were down 6.5 percent from a year ago. The median price for single family homes (excluding condos) dipped 4.6 percent, while condo prices declined nearly 9 percent.
Members are continuing to add new listings; at the same time total listings are down 7.5 percent from February 2009.
Move-up buyers are accounting for some of the surge in activity (in addition to 1st time buyers). Brokers credit the combination of a $6,500 tax incentive for qualified repeat buyers plus a better jumbo loan market as factors in spurring activity for this segment (jumbo loan interest rates fell below 6 percent...a 5 year low).
A few areas are experiencing slightly higher prices: Mercer Island, Redmond, and Issaquah. Plus they are noticing increased activity in pendings & solds.
"Historically low interest rates continue to be a motivating factor; when combined with the tax credit give buyers a significant purchasing power advantage," noted another director.
The traditional peak real estate season is approaching with lots of encouraging signs, "Homes are more affordable, mortgage rates are at all-time lows, and employment in the state appears to be on the rise," said another director. "All signs point to a strong spring."
At the same time a plethora of shorts sales and foreclosures is diluted the price point of many homes that are selling, in some cases 10-15 percent below last years prices.
What does this mean for Sellers:
If you are waiting to put your property on the market..it would be better to list right away & take advantage of the large numbers of buyers securing a property by April 30, 2010.
You will get a better offer if your house & grounds are looking their absolute best... and priced accordingly.
If you are facing a short sale situation it's important to look at all your options before deciding how to proceed.
If you are selling to move up to a larger, etc. home you may sell for slightly less on your sale. However, lower pricing on your new home will usually more than make up for that slightly lower sale price.
What does this mean for Buyers:
Good prices, low interest rates and the homebuyer credit are good incentives for you to purchase sooner rather than later.
The Federal Reserve is planning to stop buying mortgages by the end of March; expectations are that interest rates will rise after that, so again, buying sooner is smarter.
Shopping carefully is important: some short sales can close in time...depending on the underlying lienholder; have your Realtor do their homework to help you make a good decision.
2010 Local Farmers Markets Market
| Hours
| Dates
| Location
| Ballard Farmers Market
| Sundays 10am- 3pm
| Year-Round
| 5300 Ballard Ave NW
| Bellevue Farmers
Market
| Thursdays 3pm - 7pm
Saturdays 9am- 2pm
| May 13- Oct 15
June 5 -Nov 21
| 1717 Bellevue Way NE
| Broadway St. Farmers
Market
| Sundays 11am-3pm
| May 11-Nov 23
| Capital Hill Seattle, east side
of Broadway at east Thomas Street
| Carnation Farmers
Market
| Tuesday 3pm - 7pm
| May 13 -Sept 30
| SR 203 - Tolt Ave & Bird St
| Issaquah
Public Market
| Saturdays 9am-2pm
| April 11 -Oct 10
| 1730 - 10th Ave NE
(Pickering Barn)
| Kent Farmers Market
| Saturdays 9am-2pm
| June 7 - Sept 27
| Municipal parking lot at 4th & Smith
| Lake City Farmers
Market
| Thursdays 3pm -7 pm
| June 5- Oct 16
| NE 127th St. & 30th Ave NE
| Magnolia Farmers
Market
| Saturdays 10am-2pm
| June 7 - Oct 25
| Magnolia Community
Center 2550 - 34th Ave W
| Redmond Saturday
Market
| Saturdays 9am - 3pm
| May 3 -Oct 25
| 7730 Leary Way at Bear Creek Pkwy
| University District
Farmers Market
| Saturdays 9am - 2pm
| Year- Round
| NE 50th & University Way NE, Seattle
| Woodinville
Farmers Market
| Saturdays 9am - 3pm
| May 3 - Oct 11
| Old City Hall at NE 175th St
| Bothell's Farmers Market at Country Village
| Fridays 12 Noon - 6pm
| June 5 -Sept 25
| 23732 Bothell-Everett Hwy
| Everett Farmers
Market
| Sundays 11am to 4pm
| May 31 -Sept 27
| Everett Marina at Port Gardner Landing
| Edmonds Museum
Summer Market
| Saturdays 9am to 3pm
| May 2 -Oct 3
| Bell Street between 5th and 6th
| Lake Stevens
Farmers Market
| Thursdays 8am to 5pm
| June 5 -Aug 28
| Comeford Park corner of 5th and State
| Monroe Farmers
Market
| Tuesdays 2pm to 7pm
| June 3 -Sept 30
| Evergreen State Fairgrounds
| Mukilteo Farmers
Market
| Wednesdays 3pm to 7pm
| June 3 -Sept 30
| 304 Lincoln Ave
| Snohomish
Farmers Market
| Thursdays 3pm to 7:30pm
| May 14 -Sept 24
| On 1st Ave
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The First Day of Spring is Saturday, March 20
Celebrate by throwing open your windows and letting the fresh air in & the stale air out.
Spring clean your appliances the natural way:
Microwaves:
Mix 1/2 cup of water with a few teaspoons of baking soda in microwave safe bowl. Microwave for 2 minutes. Use the mixture to wipe down the microwave.
Coffee Makers:
Pour into the empty coffee maker a mixture of 1 cup white vinegar and some hot water to fill up the reservoir. Run the coffee maker. Then run it again with only warm water for each cycle. (Next time you make coffee it will taste great)!
Refrigerators:
Make a paste from baking soda and water (equal parts of each) and scrub the inside of the refrigerator. Wipe down with a clean cloth.
Fresh, Ripe & Ready
What's fresh in March? Salad greens, wild greens, carrots, radishes, broccoli, turnips, potatoes, rutabagas, winter squashes, fresh herbs, garlic, apples, pears, wild mushrooms & dried shelling beans.
Here's a fun recipe to try that's in season!
Banana Apple Muffins with Pear Butter
Ingredients:
1 cup flour
½ tsp baking powder
¾ cup oatmeal
½ cup skim milk
1 egg
¼ cup applesauce
½ cup smashed bananas
Pinch of salt
Directions:
1. Add all ingredients into a large mixing bowl. Mix until incorporated.
2. Fill prepared muffin tins ¾ way full.
3. Bake in a 350-degree oven for approximately 25 minutes or until golden brown.
4. Allow to cool and serve with pear butter. Makes 12 muffins.
Pear Butter
Ingredients:
5 pears, peeled, chunked
1/3 cup sugar
1/3 cup water
1 tsp cinnamon
½ tsp freshly grated nutmeg
Directions:
1. Place all ingredients into a saucepan and bring to a bowl.
2. Reduce heat and allow to cook for a good 45 minutes to an hour.
3. While cooking stir and check on liquid levels. Simply add more water if needed.
4. Color will deepen and sauce will thicken.
Let the pear butter cool and store it in an airtight dish/ jar in the refrigerator. Alternatively, ladle it into clean and hot canning jars, leaving ¼-inch headspace, adjust the two-piece caps, and process 10 min uses in a boiling-water canner.
March Jokes
The Pirate
Once there was a retired pirate so he decides to live with his brother.
The pirate walks up to his brothers house and knocks on the door and his brother answers the door and says, "Oh my gosh , what happened to your hand!?! "
The pirate said, "I lost it in a sword fight , but now I have a hook."
Then the brother said, "What about your leg?"
The pirate said, "A cannonball hit it , but now I have a peg leg ."
Then the brother said, "Well , what about your eye?"
The pirate said, "I got some dust in it ."
The brother said, "How could you lose your eye by just getting some dust in it?"
Then the pirate said, "It was my first day with my hook!
Perception
A tiny but dignified older lady was among a group looking at an art exhibition in a newly opened gallery.
Suddenly one contemporary painting caught her eye. ''What on earth,'' she inquired of the artist standing nearby, ''is that?''
He smiled condescendingly. ''That, my dear lady, is supposed to be a mother and her child.''
''Well, then,'' snapped the little old lady, ''Why isn't it?''
Family Tradition
The Smith's were proud of their family tradition. Their ancestors had come to America on the Mayflower. They had included Senators and Wall Street wizards.
They decided to compile a family history, a legacy for their children and grandchildren. They hired a fine author. Only one problem arose - how to handle that great-uncle George, who was executed in the electric chair.
The author assured the family he could handle the story as tactfully as possible and was given the go-ahead to write the book. The book appeared. It said "Great-uncle George occupied a chair of applied electronics at an important government institution and was attached to his position by the strongest of ties. His death came as a great shock."
Free Comprehensive Market Analysis of Your Property Wondering what your home is worth right now? I am offering 10 appointments in March to give you the current value.
Call me (206-226-6925 or 425-772-8889) & secure your appointment!
Hope you enjoyed this newsletter!
Please let me know if you have any topics or questions that you would like discussed in the next newsletter.
You can contact me at 206-226-6925 or 425-772-888
(text too)...or at christin.leupold@att.net
It's always my pleasure to assist you and any family/friends you refer to me!
(my business is built on referrals)
Thanks and Have a Wonderful Day!
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