Kitsap County Real Estate :: Bremerton, Silverdale, Poulsbo, Port Orchard, Seabeck

Here is a recent graphic created by the good folks at The KCM Blog showing the estimated months supply of Shadow Inventory throughout the United States:

Here is a good working definition of what constitutes ‘Shadow Inventory:’

from Investopedia:

A term that refers to real estate properties that are either in foreclosure and have not yet been sold or homes that owners are delaying putting on the market until prices improve. Shadow inventory can create uncertainty about the best time to sell (for owners) and when a local market can expect full recovery. Also, shadow inventory typically causes reported data on housing inventory to understate the actual number of inventory in the market.

Fortunately for us here in Washington State, as you can see from the graphic, our Shadow Inventory is one of the lowest in the entire US. What this means is that traditional Home Sellers will have less distressed homes (foreclosures and short sales) to compete against, and that home prices should stabilize more quickly than in other areas across the country.

Here are a couple of recent articles that help to further explain the impact that Shadow Inventory has on the current residential housing market:

CNN Money - Shadow Inventory improves but still threatens housing recovery

Time Business – How ‘Shadow Inventory’ is killing the Housing Market

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Rich Jacobson is a licensed real estate professional with Keller Williams West Sound, providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, and Crabbing in the Hood, or e-mail:  kitsapagent@gmail.com

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Tags: distressed properties in WA State, foreclosures in WA State, Kitsap County WA real estate, shadow inventory, short sales in WA State, Silverdale Homes for Sale, washington state real estate

Poulsbo Place is the award winning, master-planned community in the heart of the famed waterfront village of Poulsbo, Washington.

Designed in traditional Craftsman style, the architecture compliments the picturesque community of ‘Little Norway’ with its rich Scandinavian heritage.

Poulsbo Place is situated near the waters of Liberty Bay, a popular destination for area boaters and tourists, and is only a short walking distance to a wide variety of restaurants, bakeries, antique shops, clothing boutiques, book stores and gift shops.

As a licensed professional real estate broker, I view a lot of properties throughout Kitsap County, and into portions of Pierce, Mason, and Jefferson Counties, as well. Every once in a while, you come across a home that really stands out from the rest – one where location, condition, and price all combine together to achieve a truly amazing value.

Such is the case with this charming home in popular Poulsbo Place:

148 NE Sugar Maple Place, Poulsbo, WA 98370 

NWMLS #203093 provided courtesy of Teri Hewson of John L. Scott

The homes in Poulsbo Place aren’t for everyone. They appeal to a very select group of highly discerning Buyers. Though the lots are small, and the homes packed in closely together, nonetheless the close walking distance proximity to Front Street in Poulsbo and the Marina on Liberty Bay, makes this exclusive community highly desirable among Buyers, both old and young.

Senior residents like the professional yard and lawn maintenance provided through the Poulsbo Place Homeowners Association dues. Young urban professionals appreciate the cool, hip environment, and convenient accessibility to the Bainbridge Island ferry.

For more information about homes for sale in Poulsbo Place or other residential properties in Kitsap County WA, contact Rich Jacobson, Your Kitsap County WA Real Estate Professional.

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Rich Jacobson is a licensed real estate professional with Keller Williams West Sound, providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, and Crabbing in the Hood, or e-mail:  kitsapagent@gmail.com

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Tags: homes by harbors, homes in poulsbo wa, Kitsap County WA real estate, liberty bay homes, master planned communities in WA, poulsbo place, poulsbo real estate

Here on the scenic Kitsap County WA peninsula, we are fortunate to have a very large military community comprised of Naval Base Kitsap, including the Puget Sound Naval Shipyard, Bangor Subase, and the Keyport Naval Undersea Warfare Center.

As such, many of the active-duty, active reserve, and retired service members buy homes here in Kitsap County WA using VA Home Loan financing. This is a very popular loan product of choice mainly because it doesn’t require that the Buyer contribute a down payment.

VA Home Loan rates are usually fairly competitive compared with conventional loan rates. The current VA Home Loan rate is hovering around 3.75% to 4% for a 30-year fixed mortgage, and at 3.0 to 3.25% for a 15-year fixed mortgage. The maximum loan limits here in Kitsap County WA are presently set at $417,000. However, if a Veteran elects to purchase a home with a sales price higher than the loan limit, a down payment is then required which is 25% of the difference between the loan amount and the sales price.

Here in Kitsap County WA, it is fairly common for the VA Buyer to ask the Seller to contribute towards paying a portion or all of their closing costs (typically up to 3% of the sales price).

One of the distinctions of using VA financing to purchase your home is the VA appraisal process. Not only does the VA appraiser analyze comparable market data to determine current valuation, but they also inspect the home to determine if any conditions need to be remedied/resolved prior to closing. These typically involve primary home systems such as electrical, plumbing, and heating, or structural issues, like roof, siding, crawlspace, or foundation. They also look for any concerns relating to safety like steps, handrails, and decks.

So even though you conduct a full home inspection and negotiate any needed repairs with the Seller, the VA appraiser may call out additional conditions that will need to be resolved prior to closing. Just understanding and knowing about the VA appraisal helps VA Buyers to anticipate potential issues or delays to the home buying process.

For more information on the VA Home Loan process, go to the Overview of the VA Home Loan Program.

The first part of the VA home buying process is to connect with a knowledgeable mortgage lender to determine your eligibility and budget price range. I highly recommend Rhonda Porter with Mortgage Masters. You can connect with her through her popular blog, The Mortgage Porter.

If you’re a 1st Time VA Home Buyer, or even a repeat VA Buyer, give me a call @ 360.440.4758 or email at KitsapAgent@gmail.com, and I would be honored to assist you in your VA Home Buying Adventure!

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Rich Jacobson is a licensed real estate professional with Keller Williams West Sound, providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, and Crabbing in the Hood, or e-mail:  kitsapagent@gmail.com

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Tags: bangor subase, Kitsap County WA, naval base kitsap, puget sound naval shipyard, va buyers, va financing, va home loans

The following is a brief overview and analysis of the combined single-family home and condo market within Kitsap County, Washington for February 2012, provided by Rich Jacobson of Keller Williams West Sound Realty, in Silverdale, WA.

• Properties currently active on the market:  1457
• Properties closed in the last 180 days:  1167
• Average Sales Price:  $ 269,892
• Average List Price:  $ 277,568
• Ratio of List Price to Sales Price: 97%
• Average Days on Market: 127
• Sales Pending this Week: 58

Poulsbo WA statistics separately: (Area 166)

• Properties currently Active on the market:  98
• Properties closed in last 180 days:  78
• Average Sales Price:  $301,102
• Average List Price:  $308,274
• Ratio of List Price to Sales Price: 98%
• Average Days on Market: 141
• Sales Pending this week: 5

Though we are at our traditionally slow time of the year, there is a surprising amount of brisk Buyer activity throughout the area. Regardless of the current economic doldrums, there are always great opportunities for someone. Mortgage rates remain incredibly low and short sales/bank-owned properties offer some super affordable deals!

For all the latest mortgage rate quotes, go to The Mortgage Porter

WHAT’S HAPPENING IN KITSAP COUNTY WA NOW?

In his classic novella, ‘Of Mice and Men,’ Nobel prize winning author John Steinbeck immortalized the quote:

“The best-laid plans of mice and men often go awry.”

My brokerage, Keller Williams West Sound Realty, had just signed a 5-year lease for office space here in Silverdale WA. The tenant improvements were slated to begin on Monday January 9th. On the afternoon of January 8th, a fire broke out in a tanning bed at The Desert Sun Tanning Salon. Within just a few short hours, the entire building at Town Centre Plaza at the corner of Silverdale Way and Ridgetop Blvd.  lie in waste, including popular coffee hang-out Forza, and the space we had negotiated to lease next door!

Unlike many of the other tenants whose businesses were destroyed, we were simply inconvenienced/delayed for a short  period of time. Keller Williams West Sound is committed to establishing a presence here in Kitsap County WA. And as such, we currently plan to wait until a new building is constructed at the same location and re-negotiate a lease for space next to the new Forza’s. In the interim time frame, we will identify some temporary office space to use until the new building is complete. Stay tuned!

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Rich Jacobson is a licensed real estate professional with Windermere Real Estate, providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, and Crabbing in the Hood, or e-mail:  kitsapagent@gmail.com

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Tags: forza, keller williams west sound realty, kitsap county wa real estate market reports, silverdale wa

Welcome to 9009 Martin Avenue in Silverdale Washington

NWMLS #310096  ~  $429,950

This nearly 4000 square foot 4BR 4BTH home is situated on a near 1/2 acre lot in peaceful Silverdale Highlands and backs up to seasonal creek. The Main Level Open Great Room boasts a gourmet island kitchen with over 700 sq. ft. of granite counters, deep sink, breakfast bar, all stainless appliances including double convection oven, extensive custom cabinetry with pull-outs and built-ins; Formal Dining area with French Doors to BBQ deck; and a sunken Living Room with River Rock Wood Burning Fireplace.

A Large Upper Level BR could easily become a 2nd Master. The Lower Level Master Suite has French Doors leading out to your private deck. 3 of the 4 bathrooms have been recently remodeled with quality materials and workmanship. And if you need extra storage space, this is the home for you!

For the mechanically inclined, there is an 860 sq.ft. heated insulated shop space with full length workbench and saw that conveys.  Separate entries to both the shop and lower level. The home is heated by efficient Radiant heat. Cedar siding (painted in 2010), concrete tile roof, and Anderson windows and doors throughout are just some of the many features of this incredibly well-built custom home.

Silverdale Highlands is one of the older, more established neighborhoods in Silverdale WA. The home’s location offers quick and convenient access to award-winning Central Kitsap schools, area shopping, and local Navy bases.

For more information, go to my Keller Williams West Sound Contact Page Kitsap County WA Homes

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Rich Jacobson is a licensed real estate professional with Keller Williams West Sound, providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, and Crabbing in the Hood, or e-mail: kitsapagent@gmail.com

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Tags: 9009 Martin Avenue, Real Estate Bites, Silverdale Highlands, silverdale wa