While shifts in home values are important in any market, it’s important for sellers to determine the length of time a property can expect to be on the market before it will be sold. The faster that homes sell, the faster an inventory backlog can be cleared, suggesting heightened demand and an upward trajectory in prices. Additionally, if a home is on the market for an extended period of time, it may may turn off prospective buyers and force sellers to accept less-favorable offers.

To find the cities where this trend is the most extreme, real estate website Zillow.com analyzed the numbers to identify the cities where homes sell the fastest, according to the median number of days on the market. The numbers presented here are representative of home sales between mid-April and mid-July 2011.

During this time, the national median for time spent on the market stood at 117 days, while New York (168 days), West Palm Beach (175 days), and Indianapolis (180 days) were the cities where homes sold the slowest.

Also included in the analysis is the Zillow Home Value Index (ZHVI), which represents the median measure of home valuations covered by Zillow. The information presented here also includes the proportion of listings with price cuts, the average amount those listings were reduced, and the “final discount from list price,” which is the average amount that was negotiated off the original list price before the sale.

So, where do homes sell the fastest? Read ahead to find out!

5. (Tied) Oakland, California

Median time to sell: 81 days
Zillow Home Value Index: $316,400

Listings with price cuts: 26.17%
Average price cut amount: 8.70%
Final discount from list price: 1%

5. (Tied) Woodbridge, Virginia

Median time to sell: 81 days
Zillow Home Value Index: $230,500

Listings with price cuts: 20.54%
Average price cut amount: 5.66%
Final discount from list price: N/A

4. Alexandria, Virginia

Median time to sell: 74 days
Zillow Home Value Index: $402,500

Listings with price cuts: 33.30%
Average price cut amount: 4.47%
Final discount from list price: 2%

2. (Tied) Seattle, Washington

Median time to sell: 73
Zillow Home Value Index: $347,700

Listings with price cuts: 33.55%
Average price cut amount: 6.88%
Final discount from list price: 2%

2. (Tied) San Jose, California

Median time to sell: 73
Zillow Home Value Index: $494,500

Listings with price cuts: 26.16%
Average price cut amount: 5.58%
Final discount from list price: 1%

1. San Francisco, California

Median time to sell: 59
Zillow Home Value Index: $655,400

Listings with price cuts: 22.55%
Average price cut amount: 6.05%
Final discount from list price: 1%

For full article go to http://realestate.yahoo.com/promo/us-cities-where-homes-sell-the-fastest.html

Mortgage Rates hit new LOWS!

The average rate on a 30-year fixed mortgage dropped to 4.09% in the week ending Thursday — the lowest in the 40 years Freddie Mac has tracked that figure — down from 4.12% a week ago and from 4.37% a year ago. On a 15-year loan, the average rate dipped to 3.30%, down from 3.33% a week ago and 3.82% a year ago.

A separate weekly survey by HSH.com, a mortgage-data research firm, found that the average rate on a 30-year fixed-rate mortgage dropped 8 basis points — the biggest dip in about five weeks — to 4.21%, with an average of 0.27 points paid. (Freddie Mac’s rates require 0.6 to 0.7 points paid. Generally, a lender will offer a lower interest rate if a borrower pays higher points.)

While rates have been hovering near record lows for weeks, thanks in part to negative economic data, the drop this week to new record-low mortgage rates is likely due to two factors, said Keith Gumbinger, vice president of HSH.com.

One is the banking crisis gripping Greece. “Investors overseas are having a tough time of it. That tends to push money our way, driving it in to Treasurys,” he said. “That serves to push rates down somewhat.”

The other factor? “There’s been some speculation that the [Federal Reserve] is going to change the mix of their investment holdings to favor … more long-dated Treasurys,” he said. “That would tend to push long rates down a little bit. The downdraft we’re seeing may be anticipatory. Investors are shifting their own mixes before the Fed comes in.”

In the Freddie Mac survey, rates on a 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.99% this week, edging up from 2.96% a week ago. The 5-year ARM averaged 3.55% a year ago.

The average rate on a 1-year Treasury-indexed ARM dipped to 2.81% this week, from 2.84% a week ago. A year ago, the average rate on that loan was 3.4%.

“Continued investor concerns over the state of the European debt markets kept U.S. Treasury bond yields low and allowed mortgage rates to ease once more this week,” said Frank Nothaft, vice president and chief economist of Freddie Mac, in a press release.

“Various other interest rates are at or near all-time historical lows as well,” he said. “Both the 10-year constant-maturity Treasury bond and AAA-rated seasoned corporate bond yields were at 50-year lows over the week ended Sept. 9,” he said. “The 1-year constant-maturity bill, a popular index for [adjustable-rate mortgages], hit its nadir over the week of Sept. 2 since data began in 1952.”

Time to refinance?

Many borrowers still hold loans carrying higher interest rates. The average rate on mortgages in the second quarter was 5.28%, Nothaft said.

By refinancing to a 30-year fixed loan at today’s average rate, he said, homeowners could save about $1,715 a year on a $200,000 loan.

To get the current rate on the 30-year fixed mortgage, borrowers had to pay an average of 0.7 points. An average 0.6 points paid was required for the rate on a 15-year fixed mortgage and for both of this week’s ARM rates.

A point is 1% of the mortgage amount, charged as prepaid interest.

Interest rates could bump along at these low levels for a while, Gumbinger said.

“The big drivers of interest rates are fully back in play, and that’s the economy and concerns about inflation,” he said.

“We don’t really have much economy going on right now and we have level inflation,” he said, noting that there was an uptick in prices earlier this year but that they seem to be fairly stable now. Read more: U.S. consumer prices rose 0.4% in August.

“Prices are pretty firm at the moment, so there’s not a fear at this moment of increasing inflation,” Gumbinger said.

Plus, he said, there’s speculation “that we might see some [price declines] as we move forward. So, inflation is level, economic growth is poor and that should keep rates level to slightly declining as long as that persists.”

Still, Fed policy could throw a wrench into the works, as could overseas markets. Those factors are “in the backdrop,” he said. “We could see these bursts of flight-to-safety activity which pushes interest rates down more.”

2011 Tax statements.

Each spring, Washington homeowners receive tax statements based on the assessed value of their homes. A large portion of revenues from property taxes go toward educating our community’s young people. In addition, our police, fire, libraries, and parks and recreation are funded with this money. During difficult economic times, these revenues are especially important.

As many in Washington have seen their property values decrease, it’s not unreasonable to expect that property assessments would go down as well. However, that’s not always the case. In the state of Washington, approximately half of your property tax is determined by levies for schools and community services.

While you can’t do much to avoid paying property taxes, if you disagree with the value your local assessor has placed on your house, you are entitled to an appeal. According to the National Taxpayer Union, up to 60 percent of homes are assessed at a higher value than they are truly worth, but only 5 percent of homeowners appeal their assessed value

Below is more information about appealing your home’s assessment, as well as the petition form you will need to fill out. More information about Washington tax statements, assessed property values, and the appeal process can be found at http://dor.wa.gov/content/findtaxesandrates/propertytax/

If your property assessment has piqued your curiosity about the value of your home, please feel free to contact me. I’d be happy to discuss a Home Valuation for your property, and, if appropriate, a property marketing and price strategy plan.

Tips to Save Energy This Summer

June’s weather for Puget Sound and much of Washington brought below normal temperatures, clouds and rain – and even occasional sunshine, after an unseasonably cold and wet May. But surely warmer weather is coming, so now is the time for homeowners to find ways to save energy and keep their homes comfortably cool. Following are several no-cost and low-cost tips from the U.S. Department of Energy.

For starters, DOE recommends conducting an energy assessment to find out where you can save the most and where it might be worthwhile to invest in long-term energy savings.

Use natural ventilation. In climates where it cools off at night, turn off the cooling system and open the windows while sleeping. In the morning, shut the windows and blinds to capture the cool air. Consider installing window coverings and window treatments to prevent heat gain through the windows.
Operate the thermostat efficiently. Set the thermostat as high as comfortably possible in the summer. Keep the house warmer than normal when you are away. A programmable thermostat can make it easy to set back the temperature.
Use fans and ventilation strategies to cool your home. If you use air conditioning, a ceiling fan will allow you to raise the thermostat setting about 4°F with no reduction in comfort. Turn off ceiling fans when you leave the room. When you shower or take a bath, use the bathroom fan to remove the heat and humidity, and make sure fans are vented to the outside, not just to the attic.
Keep cooling systems running efficiently. Know how to operate and maintain your air conditioner, evaporative cooler or heat pump, and schedule regular maintenance on such equipment. Vacuum registers regularly to remove any dust buildup. Ensure that furniture and other objects are not blocking the air flow through your registers.
Don’t heat your home with appliances and lighting. On hot days, avoid using the oven. Instead, cook on the stove, use a microwave oven or grill outside. Install efficient lighting that runs cooler. (Only about 10-to-15 percent of the electricity that incandescent lights consume results in light – the rest is turned into heat.) Wash only full loads of dishes and clothes, and consider air drying them.
Keep hot air from leaking into your home. Seal cracks and openings to prevent warm air from leaking into your home. Add caulk or weather stripping to seal air leaks around leaky doors and windows.
Lower your water heating costs. Water heating can account for 14-to-25 percent of the energy consumed in your home. Turn down the temperature of your water heater to the warm setting (120°F). You’ll save energy and avoid scalding your hands.
Consider investing n ENERGY STAR products, which can save families about a third on their energy bill with similar savings of greenhouse gas emissions, (ENERGY STAR is a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy helping us all save money and protect the environment.)

For more no-cost and low-cost tips, visit http://www.energysavers.gov/seasonal/tips_summer.html?print.

Have We Hot The Bottom? July 9th 2011

Pending sales around Washington State at mid-year surpass year-ago levels;
industry leader says “It feels like we have hit the bottom of the market”

KIRKLAND, WA, July 6, 2011. Continuing the double-digit gain in home sales during May, last month’s pending sales surpassed the volume for June 2010 by nearly 36 percent . Northwest Multiple Listing Service members reported 7,539 mutually accepted offers last month, up nearly 2,000 transactions from the year-ago total of 5,547 pending sales of single family homes and condominiums.

At midyear, Northwest MLS brokers have logged 41,151 pending sales for a slight improvement on the total of 41,001 for the first six months of 2010 when sales were stimulated by a federal tax incentive.

Closed sales for the 21 counties in the Northwest MLS service area are running slightly behind 2010 figures. Through June, members have completed 26,034 sales, which compares to a total of 27,624 closings for the midpoint of 2010.

MLS members reported 5,561 closed sales during June, down 3.5 percent from the same month a year ago when there were 5,763 closings. Five counties (Clark, Cowlitz, Jefferson, King and Mason) reported year-over-year increases in the number of closed sales.

PLEASE NOTE: Northwest MLS reports both pending sales (mutually accepted offers) as a barometer of the most recent activity, and closed sales (completed transactions).

“It feels like we have hit the bottom of the market,” remarked Lennox Scott, chairman and CEO of John L. Scott Real Estate. He described sales activity as being at “healthy levels” for the past seven months across all price ranges close to the Seattle-Bellevue job centers and up through the median price range in the surrounding markets. “Buyer confidence has definitely returned,” he proclaimed.

Echoing that comment, Matt Deasy, the general manager of Windermere Real Estate East, noted the early signs of a market shift, which he expects will prompt shifts in buyers’ priorities. “The combination of lower inventory levels and higher sales is leading to early signs of a market shift,” he observed, adding, “These conditions are also causing the median home price to stabilize, despite being lower than last year.”

Deasy, who is also a member of the Northwest MLS board of directors, said brokers are “seeing a lot of activity in the markets close to the job centers in Seattle and Bellevue which is causing some buyers to miss out on opportunities if they don’t act fast enough.” As this cycle continues, he expects buyers’ priorities will shift from looking for the best deal possible to finding the best house for their needs at a fair price.

Prices on last month’s closed sales area-wide were down about 9 percent from the same month a year ago, but compared to January, the drop is only about 2.8 percent. The median price for sales that closed last month was $240,950; a year ago it was $265,000. In January it was $250,000.

CoreLogic, Inc., a California company that analyzes various statistical data, attributes much of the drops in home prices to distressed sales. In a report issued last week, the company said year-over-year prices for sales during May fell 5.8 percent in the Seattle area and 7.4 percent nationwide. If homes in or under threat of foreclosure are excluded, the drops were just 1.75 percent in King and Snohomish counties, according to CoreLogic’s analysis

Like prices, inventory is showing signs of stabilizing. Northwest MLS members added 10,334 new listings to inventory last month, about the same number as a year ago when they added 10,354 new listings. With those additions, there were 36,871 single family homes and condominiums offered for sale in the MLS database at the end of June. That’s down about 14 percent from a year ago when inventory stood at 42,940 active listings.

Measured by “month’s supply,” there is about a 5-month supply of homes system-wide, which is considered to be a balanced (or neutral) market favoring neither buyers nor sellers. Inventory is tighter in King County where the month’s supply is about 3.7 months.

“For the most part, Kitsap County is seeing a normalization of our market in the price ranges below $350,000,” said Frank Wilson, branch managing broker at John L. Scott Real Estate in Poulsbo. “We are seeing inventory levels in the 4-to-6 month timeline,” he reported, while noting it’s much higher at the upper end of the price spectrum. The MLS map areas encompassing East Bremerton and Silverdale are experiencing good activity said Wilson, a member of the Northwest MLS board of directors.

With the return of buyer confidence, Scott said multiple offers are occurring in markets where there is low inventory. “Buyers are seeing the advantage of historic low interest rates, lower adjusted prices and low down payment options,” he stated.

Commenting on the current market, Wilson emphasized the “basics have not changed” for buyers and sellers, “even though it is easy to get caught up in the national news. Real estate is a micro discussion, not a macro one,” he emphasized. “Your broker should be able to talk neighborhood specifics and what the inventory and turnover are within each area,” he added.

Northwest MLS director Meribeth Hutchings reported “the buyers are out there,” and noted they’re looking for an “opportunity.” She also said they are seeing multiple offers, but added no uptick in prices is expected. “Where I am seeing increased activity is with our property management company, which reports vacancy rates of only 3-to-4 percent,” said Hutchings, the designated broker/owner at Windermere Real Estate/Lake Stevens Inc.

“Buyers need to talk with a lender first to better understand their mortgage options, become informed about today’s market and be prepared to make a reasonable offer when they find a home that meets their needs,” Wilson advises. Sellers need to be priced within about 3 percent of what the home will sell for, and they need to look at their home and property through the eyes of a buyer. “Paint, clean, de-clutter and above all, be prepared to move,” he suggests.

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.

Pending sales are up in Seattle and surrounding areas! (June 6th 2011)

Momentum building as home buyers respond to lower prices, favorable financing

KIRKLAND, WA, June 6, 2011. Northwest Multiple Listing Service members reported a 43 percent increase in pending sales of single family homes and condominiums during May compared to the same month a year ago. Sellers accepted offers from 7,509 buyers last month, up from the year-ago total of 5,242 pending sales.

Year-to-date pending sales are slightly under the total for the first five months of 2010 when sales were boosted by a federal tax credit. Through May 2010, Northwest MLS members had reported 35,454 mutually accepted offers; this year’s total for five months is 33,612 (down about 5.5 percent).

“We’re seeing a definite shift in the market – especially in the areas closer to Seattle and Bellevue,” remarked OB Jacobi, president of Windermere Real Estate and a member of the Northwest MLS board of directors. “Homes that are priced aggressively are seeing a lot of competition and we’re even getting reports of some homes selling before buyers can act,” he stated.

Members reported 5,015 closed sales during May, about 5 percent fewer than the year-ago total of 5,290 completed transactions. For the first five months of this year, a total of 20,473 transactions have closed, which compares to 21,861 for the same five months of 2010 (down about 6.8 percent).

For the four-county Puget Sound region (King, Kitsap, Pierce and Snohomish counties), pending sales through five months are at 97.6 percent of year-ago levels, while closed sales are at 95.6 percent of year-to-date totals for 2010.

Northwest MLS reports both pending sales (mutually accepted offers) as a barometer of the most recent sales activity, and closed sales (completed transactions).

Matt Deasy, the general manager of Windermere Real Estate/East, considers the small differences between year-to-date figures for 2011 and the “tax incentive fueled market” of 2010 to be “good news.”

Mike Grady, president and COO of Coldwell Banker Bain, was also upbeat in his comments about the current market. “The substantial jump in pending home sales reported today won’t be surprising to the brokers working in the core urban markets of Seattle and West Bellevue,” observed Grady. He also noted the increasingly strong demand for homes and falling inventory “is making for a very competitive market in those areas, with multiple offers on the best properties becoming more common.”

“Low interest rates, low down payment requirements, and lower adjusted prices are attracting buyers into the market,” reported J. Lennox Scott, chairman and CEO of John L. Scott Real Estate. “We are seeing healthy sales activity close to the job centers of Seattle and Bellevue, creating a low inventory of homes for sale,” he noted.

Members added 10,293 new listings to inventory during May, about 900 more than the same month a year ago for a 9.7 percent increase. Despite those additions, the selection is smaller than 12 months ago. At month end, there were 36,261 active listings of single family homes and condos in the MLS system. That’s about 5,400 fewer than a year ago when inventory totaled 41,690 listings, a shrinkage of 13 percent.

“On King County’s Eastside, we are seeing a decrease in the number of listings that are short sales or bank-owned properties,” said Kathy Estey, managing broker of John L. Scott Bellevue Main. “Inventory of quality homes in median price ranges is low and we see multiple offers in most price ranges, including homes in the higher prices ranges. Some of the old, stale inventory has sold. However, the majority of homes are still selling for less than full price.”

Jacobi said a recent review of Windermere’s sales data shows that 40 percent of homes in the median price range are selling at list price and many of these buyers are paying cash. “With that being said, the market is still very price sensitive, so sellers need to continue to be realistic about the value of their home,” he stated.

The median price for last month’s sales system-wide was $239,999, about 11 percent less than a year ago when it was $269,950. Brokers attribute much of that price decline to the fairly high ratio (estimated at 30-40 percent in many markets) of foreclosed homes and short sales that are being sold at deep discounts.

In King County, prices slipped 8.4 percent, from $346,000 a year ago to $316,750 for last month’s closed sales of single family homes and condominiums. For single family homes only (excluding condominiums), the median selling price was $345,000, down about 9 percent from the May 2010 figure of $379,000.

Grady is encouraged by the momentum. “The last few years, home sales haven’t sustained much momentum without government support,” he noted, adding, “This year, however, the momentum is continuing to build naturally, as we would normally expect in the spring and summer months. Remember, by this time last year we had already experienced all of the benefit of the homebuyer tax credit, and sales began to wane after that credit had expired. We see an entirely different dynamic this year.”

It’s obvious not all local markets are improving equally, Grady acknowledged, suggesting, “It’s also obvious that the basic market forces of low supply and high demand are beginning to shift buyer or seller attitudes in many neighborhoods. That’s good news for sellers, and perhaps a cautionary message to buyers as well.”

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.

(Information provided by NWMLS)

What do buyers want?

Buyers Want Move-In Ready Homes
by Phoebe Chongchua

Is a little elbow grease needed? Selling an “as-is” home may turn off buyers, according to a recent survey of real estate professionals.

The study comes from Coldwell Banker. The company found that 87 percent of first-time buyers don’t want to buy a home that requires them to do a lot of work; instead they want “move-in” ready.

The hard part for sellers is comprehending the idea that they are going to fix up a home only to sell it and move out of it. There’s no doubt about it, however, a fixed-up home sells faster and agents say it sells for more money.

According to an article in RISMedia, when contractor work totaled nearly $40,000, those repairs added more than $100,000 to the asking price! Of course, not all homes will require that amount of money and repairs. The point is putting a little effort, money, repairs, and tender loving care into it. This could go a long way at the time of the sale.

Repairing things like leaky pipes, broken windows, worn ceilings, as well as replacing old roofs and driveways can go a long way to help increase the listing price. Ripping up carpet and painting the inside and/or outside of the home can also increase buyer appeal.

Real estate experts say the renovations don’t need to be things like re-doing a kitchen or bath, unless it’s tremendously outdated. The risk there is that sellers can put more into the renovation than they’ll get out of it at the time of sale. Also, remodels to these areas of the home are quite personal and based heavily on personal taste.

However, fixing up problem areas of a home is a different story. Buyers, especially first-timers, don’t want the aches–headache and pocketbook–of having to deal with getting the home ready before they move in. Often, first-time buyers have very little extra cash to spend on repairs. They may be coming from a nice, new apartment or home that they were renting. When they see a house for sale that requires lots of repairs to make it livable and comfortable, it’s a turn off.

What about clutter? Buyers often see clutter as a bigger issue than just a bunch of stuff strewn about the home. It can make them think that the home is more of a “project” house than it really is. Save yourself any issues and pack up your personal stuff.

Sometimes packing up stuff means storing big items that are cluttering the house. Borrow a friend’s garage or rent a storage unit if your next home isn’t ready. Unstuffing overly-furnished rooms can really open up the floor plan, allowing buyers to get a good idea of the size of the room.

Not preparing a home for sale can mean having to accept the very unwanted fact of listing it for a lower price.

Published: May 13, 2011

Rent or buy in Seattle?

Technology has driven economic growth in this Pacific Northwest city, headquarters of Microsoft and Amazon.com. Home prices have grown quickly over the past 25 years, especially during the late stages of the 2000′s boom.

The median price has since fallen 26% from its peak, according to Fiserv, making purchases more attractive. By early 2011, prices had fallen to about 26 times the annual rents. Seattle’s price rises have been robust historically and for someone looking for a home today, gains would only have to near the metro area’s normal growth rate for buyers to come out richer than renters in eight years.

Seattle — BUY
• Why buying might beat renting now
Home price gains needed to make buying a better deal: 4.84%
Historical average gain: 6.06%

To read the rest of this article visit CNN at the link below

http://money.cnn.com/galleries/2011/real_estate/1105/gallery.rent_or_buy/2.html

Home prices are rising in King County!

Is the market starting to turn? Read this article from Puget Sound Business Journal posted 5/5/2011

There were fewer April home sales in King County compared with a year ago, but the average home sale price rose dramatically.

In King County, there were 1,896 home closings last month, compared with 2,096 a year ago, but the average home sale in April was $410,289, up from $408,715 in 2010 and $394,918 in March 2011.

Brokers surveyed by the Northwest Multiple Listing Service (NWMLS) said the lower number of homes on the market is leading to a competitive market, with sellers receiving multiple offers from buyers on their homes.

One optimistic broker is J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, who said in a statement that “with healthy sales activity over the last several months, a shortage of homes coming on the market and low foreclosure activity, the stage has been set for a multiple offer market.”

NWMLS data from the 21 Western Washington counties it surveys indicate that there were 10,083 new listings in April, compared with 12,664 a year earlier. Total inventory in the NWMLS-surveyed area is down 13 percent from a year earlier.

Read more: Fewer April home sales, higher sale prices in King County | Puget Sound Business Journal

Seattle, Portland, and Vancouver are in the top 4 biggest Metros with the best long term Real Estate

For many U.S. residents burned by the housing bust, the notion that real estate can not only tread water but actually increase in value might seem a fairy tale. It’s not. A Businessweek.com analysis of home sales data from the National Association of Realtors shows that in 18 of the nation’s 25 biggest metro areas, home prices grew in value between 1990 and 2010. In one area the change in real dollar price was as much as 85 percent, a return applying only to those who bought homes as a long-term investment, not for easy money flipping real estate. Seven of these metros lost value—generally the result of overbuilding during the real estate boom. Despite recent housing woes, real estate remains one of the best investments the average American can make. And unlike a stock certificate, it provides a place to live.

Go to the link below to read the rest of this article

http://finance.yahoo.com/real-estate/article/111570/home-buying-for-the-long-haul-pays-off?mod=realestate-buy

Bright spot for mortgages: Missed payments ease

Mortgage delinquency rates among U.S. homeowners have fallen to their lowest levels in a few years, according to a report Thursday from the nation’s mortgage bankers.

The quarterly National Delinquency Survey from the Mortgage Bankers Association (MBA) reported that the rate of mortgage borrowers at least one payment past due or whose homes have been repossessed by their banks declined 0.22 point to 13.56% at the end of December, their lowest level since late 2008.

Click the link below to read the rest of this article-

http://money.cnn.com/2011/02/17/real_estate/delinquency_rate_falls/index.htm

American Dream of Home Ownership Still Strong
Three out of four home owners — or 78 percent — say their homes are the best investment they ever made, according to Trulia.com’s biannual American Dream survey, which has tracked attitudes toward home ownership since 2009.

Despite foreclosures and underwater homes continuing to batter the real estate market, about 70 percent of Americans say they still view home ownership as being part of their American Dream, according to the survey.

“Contrary to popular belief, the American Dream of homeownership has not turned into an American nightmare,” says Pete Flint, CEO of Trulia.

The millennial generation is expected to drive the housing recovery. Eighty-eight percent of 18-34 year old renters say they want to be home owners one day, according to the survey.

“Millennials are now today’s most serious home buyers,” says Tara-Nicholle Nelson, consumer educator for Trulia. “Unjaded and largely untouched by the effects of the housing crash, this new generation of buyers will no doubt lead America from its current housing slump towards true recovery.”

The survey also showed that in some of the country’s hardest-hit regions of foreclosures and underwater homes, buyers are not being deterred by the sour market. In particular, in Southern and Western regions of the United States, 79 percent and 70 percent of renters say they plan to purchase a home.

Source: “Trulia Survey: 70 Percent of Americans View Homeownership as Part of Personal American Dream,” Trulia.com (Feb. 9, 2011)

http://www.realtor.org/RMODaily.nsf/pages/News2011021401?OpenDocument

Median sale price down 26 percent from 2007 peak, region’s steepest drop.

Has experienced region’s most dramatic drop in sales since 2005: 52 percent

Median price lower than 2005, but not down as much as Snohomish, Pierce counties

Accounted for 14 percent of 2010 King County home-sales dollar volume; largest in region.

For full article with graphs and facts, click on the link below!

Real Estate | The Seattle-area housing market’s big plunge | Seattle Times Newspaper.

Wishing everyone a very happy and safe Holiday Season.

Save money this Fall by getting $25.00 restaurant gift certificates for only $2.00 at

http://www.restaurant.com/ for a limited time use the password ENJOY to get great deals!

Sept 23rd 2010-

The first day of fall is here in Washington and you may be wondering, “what am I going to do this fall?” Well, it just so happens that there are many things to do in and around our lovely state. Below are just a few ideas for you.

The Rainier Arts Festival  (Oct 1-3)-

The festival will be in the center of Ashford, at Whittaker Mountaineering and its park-like setting. We hope you can join us to enjoy great art, music, food & fun for all ages. As always: First weekend in October – Free Admission – Free Parking – And tons of Fun!    http://www.rainierarts.com/

Edmonds International Film Festival (Oct 20th-24th)-

A cinematic experience like no other is coming to Edmonds, and you can be a part of it. Tickets go on sale Oct 4th 2010.  http://www.edmondsfilmfestival.com/

The Apple Festival (Weekends through Oct 31st)-    http://www.greenbluffgrowers.com/

Wine tasting in Tri-Cities.

Visit the Columbia Valley and discover the Heart of Washington Wine Country.  http://www.visittri-cities.com/visitors/wine/

Enjoy world class fishing at Hells Canyon-  http://www.hellscanyonvisitor.com/fishing_and_hunting.htm

Happy Fall!

Happy Labor Day weekend! Are you looking for something to do this weekend in the Seattle area?
Here are some ideas for you-

Bumbershoot- Seattle’s #1 music and film festival

Enjoy music by some great bands- Bob Dylan, The Decemberists, Weezer, The Dandy Warhols, Mary J. Blige, and so much more! The festival goes through Monday (Labor Day). Visit the Bumbershoot site for tickets and information. http://bumbershoot.org/

Bicycle Sundays- For 19 weekend days this spring and summer, the City will devote a stretch of Lake Washington Boulevard exclusively to bicycles. For more information visit  http://parkways.seattle.gov/2010/04/02/2010-bicycle-sunday-dates-announced/

Vintage aircraft weekend at Paine Field- Experience history in action at this family event. More than 60 vintage aircraft will fly to commemorate the golden age of aviation. For more information visit  http://vintageaircraftweekend.org/default.aspx

Have a safe and relaxing Labor Day weekend!