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 | Category: 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 | Category: Real Estate

Live @ the Beach

I ventured into the “big city” last week to meet with Windermere colleagues to review the real estate markets both national and regional as well as take advantage of the excellent educational offerings available during the Symposium.  I chose to focus on “technology”… how to understand it, use it and make the most of it in the presentation and communication of real estae related information.  After all, our small beach market is only 2 hours away from over 4 million people and few have direct knowledge of what our area offers.  (few people will recall that I spent 17 days living in a car in the Alderwood Mall as part of Star 101.5’s “Live in it to Win it” contest with the motive of using all that free air time to get the word out about our beach in Westport. The Internet may be the key to finally succeeding!

 

The education was top notch. I learned so much about various aspects of the Internet it will probably take me the better part of this year to fully comprehend and implement what I learned (and by then the game will have changed again). As I spent more time with my Windermere brethren there in the heart of the Emerald City I gained an additional insight. I got to hear from people who spend their days and nights in King and Pierce Counties. People who experience the daily commute, the lines and the typical day to day pressures and pleasures of city life. As I was leaving Seattle headed toward the beach I realized that life at the beach is wonderful. Driving to work is a pleasure (all 8 minutes of it unless I stop to photograph some scenery or wildlife) and not having to “anticipate” the timing of leaving work for home so that I miss traffic  or catch a ferry (I often time it to catch the sunset) is a wonderful thing.

 

With that in mind my application of what I learned will be to bring my daily routine at the beach into your day… share a picture or a video that will remind you that 2 hours from you is a place where you can truly find rest and relaxation. A place you can recharge your batteries.  It’s easy to get to, easy to enjoy and a lot closer than you think. Thank you for letting me share my beach view with you. I look forward to sharing the beach itself with you soon when you find your way west… to Westport.

 

For a small sample of what it is like to “Live @ the Beach”   CLICK HERE

 

Mike Coverdale

 

 

 

Posted on February 2, 2012 at 2:50 pm
Mike Coverdale | Category: Beach Notes, Real Estate, WestportMike

2011 – A look back

Although the year was a roller coaster as far as the economy goes… many areas saw improvement in the real estate sector. The South Beach is such an “intimate” market. It takes little activity to evoke a statistical response. The fact is that the proximity to nearly four million people makes our market very responsive… it’s just a matter of educating more of the residents in Western Wa that the South Beach has both a beautiful beach AND a quaint marina! (and that we are just 2 hours away).

 

For an overview of the real estate market and what Windermere has done over the past year in the communities we serve  CLICK HERE and for a live demonstration of what the South Beach communities of Westport, Grayland, North Cove & Tokeland have to offer give me a call!

 

Mike Coverdale
Designated Broker
Windermere Westport
360-581-3399
www.westportmike.com

Posted on January 30, 2012 at 3:52 pm
Mike Coverdale | Category: Real Estate | Tagged , , ,