National Market Update

Bloomberg report looks favorable for continued improvement around the country for real estate values. Here on the South Beach activity in the mid-range properties ($150k to $250k) has increased noticeably. Lot pricing remains artificially depressed and represents the best investment opportunity.

BLOOMBERG LINK


Posted on May 11, 2012 at 9:17 am
Mike Coverdale | Posted in Real Estate |

March Statistics (National)

Another report of improving real  estate markets around the country. Great information going into what looks to be an excellent Spring & Summer at the beach!

To read the article published from RIS Media  CLICK HERE


Posted on May 1, 2012 at 8:40 am
Mike Coverdale | Posted in Real Estate |

South Beach Real Estate Update

2012 looks like the year things in the world of real estate start turning around. Here on the South Beach our limited supply puts us in a market that responds very quickly and dramatically to national trends. To review the freshest information on market trends around the country

CLICK HERE

On the South Beach, comparing 1 year residential sales from April 1st, 2010 to the end of March 2011 with April 1st, 2011 until end of March 2012 the following statistics confirm the national market trend:

South Beach Residential / Condominium Unit Sales:

20% Increase in Unit Sales Volume

15% Reduction in “Days on Market”

33% Reduction in “List Price / Sale Price” Ratio (10% to 7%)

8% Reduction in Average Sales Price

This last statistic is an important indicator that while prices dropped on the average from the previous years sales, the amount was not severe and coupled with all of the other indicators showing positive trends… to me verifies that values will continue to rise and our return to a stable market is well underway. Feel free to email or call to discuss these trends ro to schedule an appointment to look at available properties in our beautiful beach community.

 

 

 


Posted on April 30, 2012 at 10:08 am
Mike Coverdale | Posted in Beach Notes, Real Estate, WestportMike |

More favorable news on the real estate market…

This report from DSNEWS is another positive sign…

 

CLICK HERE


Posted on April 27, 2012 at 11:59 am
Mike Coverdale | Posted in Uncategorized |

Great News in getting the market back on track!

This report from DSNEWS is encouraging as it creates structure and a timeline in the short sale market that has prevented inventory from moving. This is a very positive sign for continuing improvement of market trends.

 

CLICK HERE


Posted on April 20, 2012 at 9:08 am
Mike Coverdale | Posted in Real Estate, WestportMike |

News on the Real Estate Front

More encouraging news from National Analysts. This is the year to go forward with buying plans. Why wait?

CLICK HERE


Posted on April 6, 2012 at 8:18 am
Mike Coverdale | Posted in Real Estate |

Giving Back makes the difference!

Through the Windermere Foundation each Broker shares a portion of every commission earned and the benefits are far reaching. Please take a moment to view this brief video to fully understand the commitment our company makes in the communities in which we serve!

Windermere Foundation


Posted on March 20, 2012 at 12:18 pm
Mike Coverdale | Posted in Uncategorized |

Encouraging News on the Real Estate Front

Todays article from DSNews spells out the turnaround in national real estate markets. We have already seen improvement in our miniscule beach market but nationally this is very good news.  CLICK HERE

 

 


Posted on March 16, 2012 at 6:43 am
Mike Coverdale | Posted in Real Estate |

February MLS Stats paint favorable picture!

This new report statistically verifies what we have been seeing in our beach market… where most of our buyers are from Western Washington and so are heavily influenced by the “market perceptions” in those metropolitan areas.
Washington homebuyers realizing “market may have reached bottom of cycle”
(NWMLS news release: February activity) March 5, 2012
Asking prices are comparable to a year ago. System-wide, the median asking price for the current inventory of single family homes and condominiums is $249,900, about $5,000 below the year-ago median figure of $254,950 (down 1.98 percent). Six counties (Ferry, Grant, King, Mason, Snohomish, and Whatcom) reported higher median listing prices in February than 12 months ago.
Northwest MLS members reported 3,846 closed sales last month, up about 25 percent from the year-ago total of 3,080 completed transactions.  Selling prices continued to slip, but the decline was under 9 percent for the first time in nearly a year. The area-wide median price for last month’s closed sales of single family homes and condominiums (combined) was $218,944, down about 8.8 percent from the year-ago figure of $240,000.
For single family homes only (excluding condominiums), prices were down about 7.7 percent from a year ago. Last month’s closed sales fetched a median sales price of $229,000, which compares to the year-ago price of $248,000. Five counties (Clallam Ferry, Grant, Lewis and San Juan) reported year-over-year price increases. Commenting on the market around Kitsap County, where prices dipped nearly 11 percent, Wilson said he expects prices to “stabilize and even reverse as we move further into 2012.” With 4.3 months of supply in that county, he believes the market is tilting toward sellers. “We continue to see more multiple offer situations on homes that come on the market correctly priced,” he stated.
Wilson also pointed to recently released consumer confidence numbers as a positive indicator. He noted The Conference Board Consumer Confidence Index posted sizeable improvements in February, approaching levels last seen a year ago. In a statement accompanying the latest report, Lynn Franco, director of The Conference Board Consumer Research Center, said consumers were more optimistic about the short-term outlook than they were a month ago. “Consumers are considerably less pessimistic about current business and labor market conditions than they were in January. And, despite further increases in gas prices, they are more optimistic about the short-term outlook for the economy, job prospects, and their financial situation,” she declared.
Nationally, the overall direction for the housing market is positive, according to analysts with the National Association of Realtors (NAR). Its latest figures show the past few months of contract activity are the highest in more than four years outside of the home buyer tax credit impact. In comments accompanying the latest figures, NAR suggested the market isn’t as strong as it could be because of overly restrictive lending standards and contract cancellations due in part to appraised values coming in below a negotiated price.
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 22,000 real estate brokers. The organization, based in Kirkland, Wash., currently serves 21 counties in Washington state.

Posted on March 5, 2012 at 11:42 am
Mike Coverdale | Posted in Real Estate |

Optimistic Real Estate Forecast

For years now it has been little more than gloom and doom in the papers about the economy and real estate markets around the country.

Matthew Gardner has developed his 2012 outlook, which he’s made available for us.   Here is a link to An Optimistic Outlook – 2012 Market Insights.

I look forward to hearing from you and to seeing you at the beach soon.

 

Mike Coverdale – Designated Broker  Windermere Westport

 


Posted on February 10, 2012 at 4:49 pm
Mike Coverdale | Posted in Uncategorized |