poulsbo real estate :: SoundBiteBlog.com

The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for September 2009, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (this includes data for Bainbridge Island WA)

• Properties currently active on the market:  2056
• Properties closed in the last 180 days:  1414
• Average Sales Price:  $298,850
• Average List Price:  $311,121
• Ratio of List Price to Sales Price: 96%
• Average Days on Market: 96
• Sales Pending this Week: 68

Poulsbo WA statistics separately: (Area 166)

• Properties currently Active on the market:  116
• Properties closed in last 180 days:  112
• Average Sales Price:  $321,722
• Average List Price:  $329,347
• Ratio of List Price to Sales Price: 98%
• Average Days on Market: 89
• Sales Pending this week: 7

WHAT’S HAPPENING NOW?

The Fall season on the Kitsap Peninsula WA is definitely upon us! Temperatures are cooling down, the mornings are darker, and local high school football is in full swing!

In most markets across the country, real estate is seasonal, and typically begins to slow down once school starts back up. But here in Kitsap County WA we still are experiencing a steady flow of activity, especially with Buyers trying to take advantage of the $8000 Federal Tax Credit for 1st Time Home Buyers. In order to qualify for this credit, the purchase contract must be closed no later than December 1st, 2009.

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For more additional information and resources concerning real estate in Kitsap County WA and the Western Puget Sound, access my website, Kitsap Life .

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Rich Jacobson is a licensed real estate professional 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

Posted in Kitsap Market Reports | 3 Comments »

Tags: kitsap county WA real estate market report, poulsbo real estate, september 2009

I just wanted to update our readers about some very positive changes that have recently occurred at the Windermere Real Estate offices in Poulsbo, and Silverdale (known as Windermere West Sound, Inc.) here on the scenic Kitsap Peninsula.

Earlier this year, both offices were sold by retiring Windermere veterans, John Demco and Steve and April Kieburtz, to a couple of young Windermere entrepreneurs, Carter Dotson and Mike Pitts.

Dotson, owner of Windermere’s Kingston office, began his ten year real estate career at Windermere Services Company. A native of Bainbridge Island, Dotson has recently returned to Bainbridge with his family and is managing operations at the Poulsbo office which currently has 47 agents.

Co-owner partner, Pitts, also formerly of Windermere Services Company, brings his information technology skills to the management of the Silverdale office, which houses 42 agents. Mike and his family reside on Bainbridge Island as well.

At the Poulsbo office, longtime Managing Broker and popular trainer, Cindy White, has retired. Her void has been skillfully filled by respected veteran Casey McGrath.

In Silverdale, Managing Broker Frank Wilson has taken a position with Graphical Data, Inc., a real estate technology company that provides website design and IDX MLS feed solutions to real estate offices, brokerages and agents. Replacing Frank is Marie Flanders, a longtime successful agent in Kitsap County.

There is definitely a renewed sense of vision and excitement in our offices. Since assuming ownership, both Carter and Mike have garnered the trust, respect, and support of our agents, not an easy task, I assure you.

Under the leadership of the new owners, and the experienced guidance of the new managing brokers, Windermere West Sound, Inc. is poised to continue their dominant position as the leading real estate company in Kitsap County WA.

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Rich Jacobson is a licensed real estate professional 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.

Posted in Kitsap County Bites | No Comments »

Tags: Carter Dotson, Casey McGrath, Marie Flanders, Mike Pitts, poulsbo real estate, Silverdale WA Real Estate, west sound inc, windermere real estate

In the most recent issue of US News and World Report, Silverdale WA and Bremerton WA were both ranked in 1st place among the Top Ten US Housing Markets for the Next Ten Years.

Citing a recent study conducted by Moody’s Economy.com, Associate Editor Luke Mullins shared findings that the home prices of neighboring cities Silverdale WA and Bremerton WA should expect to increase by an average of 5.2 percent annually from the fourth quarter of 2008 through the same period of 2018.

Situated near the heart of the Kitsap Peninsula, Silverdale and Bremerton WA share more than 300 miles of scenic Puget Sound coastline with other area cities like Port Orchard, Poulsbo, and Seabeck.

While the attractive Pacific Northwest location is certainly a huge draw that brings new residents to the area, the study points to the area’s stable economies as the primary determining factor for the projected future growth.  A large military presence/community— of the U.S. Navy in particular — helps to insulate the local economies somewhat from the widespread volatility being experienced in other markets around the county.

With the current low mortgage rates and the $8000 tax credit, this can be an excellent time for 1st Time Home Buyers to enter the market. And, with the number of bank-owned properties and short sales, there is also opportunities for investors to acquire some bargain-priced properties.

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Rich Jacobson is a licensed real estate professional 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.

Posted in Kitsap County Bites | 2 Comments »

Tags: Bremerton WA Real Estate, Kitsap County WA real estate, port orchard real estate, poulsbo real estate, seabeck wa real estate, Silverdale WA Real Estate

Okay, so I’ll be first one to admit that I’m a bit biased towards Kansas University and the beloved Jayhawk Basketball program. Prior to moving to Silverdale WA, we lived in Lawrence KS for 10 years. Our kids grew up as Jayhawk fans. During our time there, we learned to have a tremendous appreciation for collegiate sports, and basketball in particular.

As such, whenever March rolls around, things get pretty crazy around the Jacobson Home. The brackets are printed out, filled in, and proudly scotch-taped to the refrigerator.

The Dance (NCAA Basketball Tournament) illicits a plethora of ruminating prognosticators who boast and brag about their picks, and claim to have some kind of psychic insider information to base their selections upon.

The same could be said of real estate. It seems that lately, we’ve had as many people attempting to forecast the future of real estate as we do those who are attempting to predict the match-ups going into the Final Four.

The last couple of years, our daughter, Emily, has won our family bracket challenge. This really annoys her 3 brothers who follow college hoops a lot more closely than she does.

In real estate, trying to forecast future trends, even for just the next 6 months, is many times simply a best guess. No one knows for certain what’s going to happen and when. Certainly there are indicators and previous cycle patterns to analyze and compare. But the reality remains, no one knows for certain.

But in real estate, there is one thing we can say with confidence :

“No Two Markets are the Same!”

Just because some Wall Street ‘suit’ in New York claims that the 2nd Great Depression has arrived and that the housing market has imploded, doesn’t mean it’s true across the board. Those guys earn a living on sound bytes and speculation. And if one more blonde TV News Starlet, scratching her way to higher ratings, refers to the current housing market as a ‘Holocaust,’ I promise I’m gonna hurl!

Are there areas in the US housing market where things are tough? You betcha! In some places, prices are dropping, valuations are decreasing, and foreclosures are rising at an alarming pace.

But there are just as many housing markets, if not more, that are experiencing somewhat stable or ‘normal‘ conditions. By ‘normal,’ I mean, the usual cycles historically associated with the real estate market. Every 8 to 10 years or so, we go through a market adjustment. After enjoying several years of very fast or brisk activity, the market begins to slow.

It is during these downturns, that the pessimistic media naysayers of ‘doom & gloom‘ act as though these kind of cycles have never happened to us before. The constant bombardment of their incessant negativity begins to affect us, and their created perception starts to become our reality.

Certainly, if one lone trader can adversely affect the cost of crude oil, then the constant negative bombardment of media hypesters can easily influence our perceptions over the current real estate market.

The real truth is that in some areas, real estate is in seriously bad shape. In other places it’s mediocre at best. And still yet in some markets, real estate is holding its own.

Please, don’t allow the Media’s broad brush strokes to paint an incorrect picture of YOUR market. If you’re looking to buy or sell, consult with your local real estate professional. No one is better equipped or knows your market more intimately than someone who is actively involved in providing expert representation in your specific area.

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Rich Jacobson is a licensed real estate professional providing 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 and Crabbing in the Hood.

Posted in Real Estate Bites | 3 Comments »

Tags: Kitsap County Bites, market dynamics, poulsbo real estate, real estate

Some tenants are better than others. Yet no matter how ethical a tenant might be, or how diligent in paying the monthly rent, even terrific tenants can get badly hurt by a foreclosure.

Landlords don’t usually discuss their financial problems with their renters. Why would they? If the property owner is falling behind on his/her mortgage payment, they fear that if the tenant finds out, the tenant might just follow suit and quit making the rent payment. And the landlord, headed for foreclosure,  needs money badly. Tenants of rental properties are often among the last to know about a pending foreclosure.

A landlord’s  foreclosure leaves a tenant in a precarious position and can potentially have a lasting effect on the tenant’s future ability to rent as well as throwing the tenant’s life into disarray while they scramble for housing unexpectedly. The scramble for a new home is a short-term problem. There are other pitfalls for renters, that can last for years beyond the foreclosure, and have a much more significant impact on the renter’s future.

When a lender “takes back” a home through foreclosure, the lender’s primary goal is to sell the property as quickly as possible. Empty properties are easier to sell than occupied properties. The lender, determined to sell quickly, must take steps to make the house as sell-able as possible. These steps often include emptying the house of it’s occupants. In other words, and eviction takes place. And here is where tenants can get hurt.

An eviction is a formal, legal action. Many legal actions are part of the Public Records. And Public Records are part of a Credit Report. So a tenant can end up with an Eviction on their Credit report! This can happen even if the tenant does not fight the eviction. Many lenders will “follow protocol” just to be sure future litigation cannot happen. Protocol in this case is a legal eviction. The lender, wishing to have a perfect “paper trail” of documents, can insist on following the letter of the law with regards to an eviction. They insist on following the process to it’s bitter end.

The ripple effects of the current mortgage market continue to surface in unexpected ways.  If you are a renter and find yourself in this unpleasant situation, document everything (make copies of any communications, and make written notes of any verbal conversations). You might want to consider speaking with legal counsel just to be safe. And make copies of all your rent checks (front and back) in case you ever need to prove that you made all your rent payments on time.

Posted in Credit Bites, Foreclosure, Miscellaneous, Real Estate Bites | 1 Comment »

Tags: bremerton real estate, kitsap real estate, port orchard real estate, poulsbo real estate, silverdale real estate, washington state foreclosure