seabeck wa real estate :: SoundBiteBlog.com

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.

~     o     ~     o     ~     o     ~     o     ~     o     ~

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.

Bookmark this article to:

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

A while back, I published an article here on SOUNDBITEBLOG entitled “The Art of Offering Less.” It ended up becoming a 3-part series catered towards a Buyers perspective and provided some practical guidance/advice on how to draft offers that were less than the listing price.

In the 1st article we identified the market dynamics that tend to encourage or breed low offers.

In the 2nd article, we shared various strategies for Buyers to achieve success with low offers.

In the 3rd and final part, we discussed the risks that are inherent with making low offers.

Just recently, I received an offer on one of my listings, a secluded Hood Canal view property near DeWatto Bay in Tahuya WA.

Prior to faxing over the offer, the Selling Agent gave me a heads-up that the offer was going to be less than the current listing price.

How should Sellers respond to low offers, especially in today’s challenging market?

To find out some helpful and practical Seller strategies, go to ActiveRain (the link opens up into a separate window for your viewing ease).

~     o     ~     o     ~     o     ~     o     ~     o     ~

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.

Bookmark this article to:

Posted in Real Estate Bites, Sellers | No Comments »

Tags: Kitsap County WA real estate, low offers, seabeck wa real estate, seller strategies, Silverdale WA Real Estate

Real Estate Market Report for Kitsap County WA  06/01/2009

The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for June 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:  2014 
• Properties closed in the last 180 days:  971 
• Average Sales Price:  $291,864
• Average List Price:  $305,043
• Ratio of List Price to Sales Price: 96%
• Average Days on Market: 104
• Sales Pending this Week: 97

Bainbridge Island WA statistics separately: (Area 170)

• Properties currently Active on the market:  350 
• Properties closed in last 180 days:  98
• Average Sales Price:  $646,191
• Average List Price:  $687,266
• Ratio of List Price to Sales Price: 94%
• Average Days on Market: 134
• Sales Pending this week: 7

Home prices in Kitsap County WA continued to drop slightly in May, while pending sales showed further improvements.

Lending rates have jumped rather significantly just over the past several weeks (from 4.5% to 5.25%), spurring many potential Buyers to get off the fence and make the home buying leap.

The market continues to offer excellent opportunities for qualified 1st Time Home Buyers with the low rates, the $8000 1st Time Buyers Tax Credit from Uncle Sam, and the large amount of homes available on the market.

If you’re a motivated Seller, now may be the time to seriously consider making a meaningful pricing adjustment, so you can move onto the next adventure in life!

Top selling neighborhoods in Kitsap County WA were Area 141 (South Kitsap West of Hwy. 16);  Area 148 (West Bremerton); and Area 150 (East Central Kitsap).

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

~     o     ~     o     ~     o     ~     o     ~     o     ~

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 and Crabbing in the Hood, or e-mail:  kitsapagent@gmail.com

Bookmark this article to:

Posted in Kitsap County WA Market Reports | No Comments »

Tags: Bremerton WA Real Estate, Kitsap County WA, Port Orchard Real Estate, Poulsbo Real Estate, real estate market reports, seabeck wa real estate, Silverdale WA Real Estate

Bookmark this article to:

Posted in Kitsap County WA Market Reports | No Comments »

Tags: kitsap county WA real estate market report, Port Orchard Real Estate, real estate market reports, seabeck wa real estate, Silverdale WA Real Estate

In our last episode, Bill and Betty Buyer were sitting down with their trusty Agent, Realtor Ron, to draft an offer on their dream home. They had spent the past 3 weekends touring dozens of potential properties, when they finally found just the perfect place!.

When it came time to discuss the offer price, Bill proudly asserted, “We’re going to offer them $50K below the Listing price, and ask them to pay closing costs too!”

Pulling his jaw off the floor, Realtor Ron looked down on the MLS data-sheet for the subject property.

“Their home has only been on the market for less than two weeks,” Realtor Ron stated.

Pulling up statistics for  several comparable properties in the same neighborhood that had sold in the past month, Realtor Ron showed the Buyers how the property was actually priced very aggressively, below many of the most recent sales. In addition, a quick check on the County Website revealed that the home was priced just below the property tax assessed valuation as well.

“But it’s a ‘Buyer’s Market,” responded Betty Buyer, “Aren’t all  Sellers desperate?”

~     o     ~     o     ~     o     ~     o     ~     o     ~

There is this tendency when the market softens and slows down for Buyers to expect greater bargaining leverage when it comes to home sales prices.

In the event that you, as a Buyer, decide to offer less than the asking price, there are definitely some strategies you can employ that will help to improve your chances for success.

Just understand that each property and Seller presents a unique set of circumstances, and each needs to be considered separately.

The offer price is just one element to a contract offer, albeit the most predominant. The key to being successful in offering less than asking price is to strengthen all of the other elements of the offer. Here are some suggestions:

1.   Cash Buyer:   Obviously, the old adage ‘Money Talks’ still bears true today. Cash Buyers will almost always have the greatest degree of negotiating power in a real estate transaction. But let’s face it, the overwhelming majority of Buyers today require some amount of financing.

2.   Letter of Loan Pre-Approval:    Okay, so if you’re in the clear majority, and plan on using a mortgage loan to purchase the house, then you need to effectively convey/communicate your financial solvency and ability to satisfy the contract. One way this is accomplished is through an official Letter of Loan Pre-Approval furnished by your mortgage lender (always make them ‘address specific’ and not ‘dollar amount’ specific).

3.   Letter of Buyer Introduction:   Another method I have found to be effective is to draft a Letter of Introduction about my Buyers that serves to put ‘flesh’ on the offer. It helps to divert the attention away from ‘dollars & cents’ and puts the focus on real people trying to achieve their dreams. I know, it sounds corny, but trust me, it works.

3.   Earnest Money:   One of the purposes behind offering earnest money is to demonstrate the seriousness of your intent to purchase. It makes a statement to the Seller about how much you want their home. If you’re going to be skimpy on the offer price, then soothe the wound with a hefty earnest money deposit.

4.   Make it a ‘Clean’ offer:   Make your offer as straight-forward and with the least amount of ‘hoop-jumping’ as possible. This means eliminating or reducing any redundant contingencies or addendum.

5.   Other Seller Considerations:   One of the things I always ask the Listing Agent before drafting an offer is “Are there any other considerations besides price that are important to the Sellers?” You’d be amazed at what is important to some Sellers other than the sales price. Some want an accelerated closing. Others a delayed or extended closing. Sometimes accommodation to these other considerations can make a huge difference.

This is, by no means, an exhaustive list of elements you can vary or strengthen to better position yourself when submitting a low offer. In the next installment, we’ll talk about the risks associated with submitting a low offer.

~     o     ~     o     ~     o     ~     o     ~     o     ~

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 and Crabbing in the Hood.

Bookmark this article to:

Posted in Buyers, Real Estate Bites | 2 Comments »

Tags: Buyers, Kitsap County WA real estate, making a low offer, making an offer, seabeck wa real estate, Silverdale WA Real Estate