Puget Sound Real Estate and Community Blog

Did you know?

There is a federal program that could provide a rebate for purchasing energy-saving appliances?

Existing home sales surged a whopping 44 percent from a year ago, the highest annual gain since NAR started tracking the data in 1999.

The number of first-time home buyers is now at its highest level on record dating back to 1981? In November, they accounted for 51 percent of all home sales.

The supply of home sales and continuing shrinkage in inventory has helped stabalize home prices. November recorded the smallest year-over-year decline in home prices.

The governmnet has called on banks to increase lending, particularly for small business.

Feel free to contact me if you would like to discuss the impacts these economic factors will have on the real estate market over the course of the next year.

David J Edwards

Real Estate Agent & REALTOR
Edwards Real Estate Group
Keller Williams Realty Southeast Sound
Phone: 425-636-0296
Fax: 425-902-1899
E-Mail: David@EdwardsRealEstateGroup.com
Website: http://www.EdwardsRealEstateGroup.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT

The Edwards Real Estate Group specializes in Residential Real Estate for buyers and sellers.

KIRKLAND, WA, January 5, 2010 – “Home for the holidays” took on special meaning for 4,399 buyers whose purchase offers were accepted during December, according to the latest report from Northwest Multiple Listing Service. That volume of pending sales was up more than 35 percent from a year ago and marked the best December since 2006.
Brokers say it’s a tough market, but point to several indicators for good activity during this year’s first quarter. “The distance seems great, but the direction is a good one,” observed NWMLS director Dick Beeson.
“With what our agents already have in the pipeline, I’m optimistic about a positive first quarter,” said NWMLS director Meribeth Hutchings, the broker at Windermere RE/Lake Stevens. “We had a very strong December and the momentum seems to be there to keep things moving,” she remarked, noting three agents were in the office on New Year’s Eve writing offers.

Shrinking inventory, the extension of the first-time home buyer tax credit, and favorable interest rates are among factors brokers believe will sustain activity.
“Affordability has never been better,” said Dick Fulton, a past chairman of the NWMLS board of directors whose career spans more than two decades. Fulton, the executive vice president at Coldwell Banker Bain, suggests would-be sellers list their property soon, rather than wait until spring, to take advantage of favorable conditions. With inventory much smaller than a year ago, sellers should benefit from more exposure to a good pool of buyers, he suggests.

Inventory area-wide is down about 15.6 percent from a year ago. At the end of December, brokers reported 32,152 active listings of single family homes and condominiums. For the four-county Puget Sound region, the number of active listings is down more than 18 percent, with Kitsap County reporting the biggest drop at 25.4 percent.
NWMLS members reported 4,711 closed sales during December, up 54.7 percent from the year-ago total of 3,045 when the holiday slowdown was compounded by record low temperatures and snow.

The median price for last month’s completed transactions, including single family homes and condominiums, was $265,000. That compares to a year-ago sales price of $285,000 (down about 7 percent). Compared to January, prices are down about 2.9 percent.

For single family homes (excluding condominiums), last month’s median sales price was $273,000. Twelve months ago it was $290,000, a difference of about 5.9 percent. Condo prices have dropped about 14.6 percent, from $263,475 to last month’s figure of $225,000.

Dick Beeson, owner/broker of Windermere Commencement Assoc. in Tacoma, said the market is “chugging along,” despite hurdles associated with the lending market, appraisals and foreclosures. “The hardest part of the process still remains the uncertainty of the lending market as banks continue to ratchet up the qualifications and criteria for borrowers. Appraisals are difficult because even if the value comes in at the purchase price many lenders do a second review of the appraisal and find fault with the outcome, therefore creating a problem for buyers and sellers.” He also noted the large volume of foreclosures has driven down prices – something he believes will persist throughout much of this year.

Beeson also said he does not expect much sales action as a result of expanding the tax credit to qualifying repeat buyers because many owners have little or no equity in the homes to use to move up. “First time buyers will still lead the charge in sales,” he suggests.

Northwest Multiple Listing Service, owned by its member brokers, is the largest full-service MLS in the Northwest. Its membership includes more than 24,000 brokers and agents. The organization, based in Kirkland, currently serves 21 counties in western and central Washington. Ferry and Clallam counties are now included in the monthly statistical reports.

Diane Edwards
Marketing Director
Edwards Real Estate Group
Keller Williams Realty Southeast Sound
Phone: 425-636-0296
Fax: 425-902-1899
E-Mail: Diane@EdwardsRealEstateGroup.com
Website: http://www.EdwardsRealEstateGroup.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT

The Edwards Real Estate Group specializes in Residential Real Estate for buyers and sellers.

AUSTIN, TEXAS (December 21, 2009) — Keller Williams Realty joined the ranks of the top franchises in the world last week, when the company was ranked as the No. 1 real estate franchise on the 31st Annual Franchise 500 list by Entrepreneur magazine. During the same week, the company was also voted the Most Recognizable Brand of Real Estate Franchises for 2009 in an industry-wide survey for the Swanepoel TRENDS Report.
 
“The Swanepoel TRENDS Report is a respected source for the real estate industry and beyond, as is Entrepreneur magazine, and we are excited to see our agents honored in this way for all of their hard work,” said Mark Willis, CEO, Keller Williams Realty. “We certainly wouldn’t have been included on either list without the dedication and resolve of our agents.” 
 
According to the ranking in Entrepreneur magazine, the most important criteria to determine the top franchises included financial strength and stability, as well as growth rate and size of the franchise system. The magazine also looked at the number of years the company has been in business and the length of time it’s been franchising, in addition to start-up costs and financial data. Additionally, Keller Williams Realty made an impressive showing on the overall list, placing higher than any other real estate franchise.
 
The Swanepoel TRENDS Report is published by Stefan Swanepoel, a real estate industry speaker and insider. The survey was crafted to determine the Most Recognizable Brand for Real Estate Franchises for his report out in February 2010. The survey included votes cast by 11,000 plus real estate agents, who cast 390,000 votes to select the top 10.
 
Earlier in the year, Keller Williams Realty also received the highest overall satisfaction ratings from home buyers among the largest full-service real estate firms from J.D. Power and Associates for the second year in a row.
 
“We are extremely proud that our associates and company are being recognized for our strength and stability during this time in our industry,” said Mary Tennant, president and COO, Keller Williams Realty. “We attribute our success to being in business with phenomenal people and to our core business models, which have allowed our franchises to thrive during any market.”
 
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About Keller Williams Realty Inc.:
Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with 679 offices and 73,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. For more information, visit Keller Williams Realty online at (www.kw.com).

Diane Edwards
Marketing Director
Edwards Real Estate Group
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: diane@davidjedwards.com
Website: http://www.EdwardsRealEstateGroup.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Wi

KIRKLAND, WA, December 3, 2009 – Home sales continued to outperform year-ago totals and prices continued to show signs of stabilizing, according to the latest report from Northwest Multiple Listing Service. Brokers credit move-up buyers as one factor for the positive activity.

“This winter will not be ‘business as usual’ for the housing market,” proclaimed the CEO of one brokerage while expressing optimism for 2010.

Pending sales for November tapered off from October’s surge during the rush to beat a looming tax credit deadline, but compared to November 2008, home sales jumped more than 31 percent. Members notched 4,888 pending sales (mutual acceptance of an offer) last month, which compares to 3,727 pendings for the same period a year ago.

Pat Grimm, a member of the NWMLS board of directors, said the strength of the first-time buyer market is no surprise. “What has been surprising is the strength in the move-up market,” he remarked. First-time buyers led the market recovery, according to Grimm, the designated broker at Windermere RE/Capitol Hill, Inc. “Move-up buyers have definitely picked up the baton,” he exclaimed.

Closed sales of single family homes and condominiums (combined) for November outgained year-ago totals by an impressive 76 percent, rising from 2,937 completed transactions to 5,168 closings across the NWMLS service area. Last month’s total number of closings (5,168) exceeded the number of pending sales (4,888), a ratio that had not occurred since October 2008.

The median sales price area-wide was down about 7 percent from a year ago, the lowest percentage decline all year. Prices had been off every month this year by double digits until June (down 9.5 percent) and August (down about 8.8 percent), but for past three months the decline has been under 7.5 percent.

Grimm described the market within Seattle as “strong,” noting stable prices during much of the year and a brisk pace of activity. “The shift was made away from a buyer’s market early this year into a balanced market, and in some areas close to the city core, it’s a seller’s market,” he commented.

Inventory for the MLS map areas encompassing Seattle is down more than 16 percent from a year ago, while pending sales jumped about 33 percent. For single family homes (excluding condos) within the Seattle map areas, inventory declined 20.6 percent from a year ago. The median selling price of $399,995 is 3.6 percent less than twelve months ago.

Inventory area-wide is at its lowest level in nearly two years. At the end of November, brokers reported 36,266 active listings (30,084 single family homes and 6,182 condominiums) across the NWMLS market area. That’s down from 43,584 active listings in the system twelve months ago, a drop of nearly 17 percent. Not since January 2008, when brokers represented 34,950 home sellers, has inventory been that low.

“This winter will not be ‘business as usual’ for the housing market,” said Lennox Scott, chairman and CEO of John L. Scott Real Estate. “Thanks to historically low interest rates, adjusted home prices, and the passage of the extended/expanded tax credit, we are getting a running start on the New Year,” he added.

(Last month, Congress passed new legislation that extends the first-time home buyer tax credit of up to $8,000 to buyers who purchase by April 30, 2010. The legislation also authorized a tax credit of up to $6,500 for qualified repeat home buyers.)

Holidays can be favorable time to buy, sell
Although seasonal slowdowns are typical for housing activity, industry experts say now can be a good time for both sellers and buyers. Buyers tend to encounter less competition for the most desirable homes. Also, qualified buyers can expect above-normal attention from service providers who are experiencing a slowdown in their business, including lenders, home inspectors, appraisers and title companies. Lenders may even be willing to extend very favorable mortgage terms or forgo some fees as they vie for business.

Agents are able to devote more time to clients and the smaller selection of homes on the market. Sellers can also benefit from showcasing their homes with tasteful holiday decorations, although home stagers caution them to show restraint and not overdo the décor.

Other advantages may be faster closings by lenders who are motivated to add transactions to their 2009 books, and tax deductions.

Northwest Multiple Listing Service, owned by its member brokers, is the largest full-service MLS in the Northwest. Its membership includes more than 24,000 brokers and agents. The organization, based in Kirkland, currently serves 20 counties in western and central Washington. Ferry County is now part of Northwest MLS, becoming the 20th county included in the monthly statistical reports.

Best Regards,

David J Edwards
Real Estate Agent & REALTOR
Edwards Real Estate Group
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT

The Edwards Real Estate Group specializes in Residential Real Estate for buyers and sellers.

KIRKLAND, WA, September 4, 2009 –Pending sales around Western Washington during August jumped nearly 21 percent from a year ago and inventory dropped more than 18 percent, according to new figures from Northwest Multiple Listing Service. MLS member-brokers say those indicators, along with signs of stabilizing prices, set the stage for brisk activity in the next few months as first-time buyers try to take advantage of the Nov. 30 deadline for tax credits.

“The typical August cool down in the market did not happen this year,” observed NWMLS director Kathy Estey, managing broker at John L. Scott’s office in downtown Bellevue. She said agents are busy with both first-time and move-up buyers and they’re reporting multiple offers on homes priced up to $700,000.

Brokers reported 7,539 pending sales (offers made and accepted but not yet closed) for August, up 20.7 percent from a year ago. That volume outgained July’s total by 260 transactions.

In the four-county Puget Sound region, pending sales of single family homes and condominiums (combined) surged 25.7 percent from a year ago.

Within King County, pending sales activity improved 25.1 percent from a year ago, and was especially robust in the North King County area (up 38.7 percent) and on the Eastside (up nearly 36 percent). Excluding condos, two sub-areas of King County notched gains of more than 40 percent for pending sales of single family homes – Southeast King County (up 40.4 percent) and the Eastside (up 42.5 percent).

On the downside, Estey said many transactions are missing their closing date “for seemingly irrational reasons.” Last minute demands from lenders are common and final underwriting reviews are causing delays, she noted, adding, “Inexperienced appraisers are gumming up the works as well.” She urges first-time buyers who want to capture the $8,000 tax credit to plan ahead and allow for delays.

Another MLS director, Dick Beeson, the broker/owner of Windermere Commencement Associates in Tacoma, said stabilizing prices “bode well for the near term.”

For the 19 counties in the Northwest MLS service area, the median price for single family homes and condominiums that sold and closed last month was $$275,945, down about 8.8 percent from the year ago sales price of $302,500. Since January, however, prices area-wide have edged up about 1.1 percent, with seven of the 19 counties notching increases.

Prices for single family homes (excluding condos) that sold throughout the NWMLS area are up about 3.3 percent since January, although down about 9.2 percent from twelve months ago. In the four-county Puget Sound region, the median sales price for single family homes that closed last month was $310,000, down about 11.4 percent from twelve months ago, but back up to match January’s figure of $310,000.

Condo prices remain depressed. For last month’s completed transactions, the median sales price was $235,000 off 5 percent from the year ago figure of $247,500. Compared to January’s sales, condo prices have dropped about 6 percent

J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, expects strong activity in the coming months. “It’s exciting to see that home sales continue to be brisk in the more affordable and mid price ranges,” he remarked. “I anticipate that September will see a surge of sales activity because of the tax credit’s impending deadline which, when combined with historically low interest rates and increased affordability, provides a rare opportunity for first time homebuyers,” Scott stated.

Current house-hunters have fewer listings to consider than a year ago: 41,528 active listings at the end of August compared to 50,772 for same month a year ago, a decline of 18.2 percent. Prices on current offerings, which include single family homes and condominiums, range from $13,000 to $32 million.

Northwest MLS members added 10,132 new listings to inventory during August, nearly 1,300 fewer than twelve months ago. Inventory shrunk in 16 of the 19 NWMLS counties, with twelve counties reporting double-digit drops.

Lower listing inventory is one of the building blocks of a housing recovery, according to Ron Sparks, managing vice president of Coldwell Banker Bain. “With fewer homes for sale, better affordability and buyer incentives like the $8,000 first-time buyer tax credit, we are seeing supply and demand become much more balanced in many areas, and this will help support more stable prices,” he explained.

Sparks also commented on the momentum reflected in last month’s activity. “It’s very good to see that the number of pending sales is still rising in most areas, especially when we might typically expect a seasonal slowdown in demand.” He called the nearly 21 percent overall improvement in last month’s pending sales “particularly impressive.”

Open house traffic has been steady with high interest among first-time buyers being the driver, reports NWMLS director Beeson. Despite high interest, he said many potential buyers are still confused about how the tax credit program works.

On a cautionary note, Beeson expects a new round of bank owned properties to come on the market later this year and into next year. “This inventory will have to be absorbed over time and no one knows for sure just how this will influence prices,” he acknowledged, adding, “The best guess is it will be negative, although we have experienced many foreclosures already on the market. . .with no appreciable drop in prices since the beginning of the year.”

Summing up last month’s activity, Sparks of CBB, said, “A healthy, balanced market is in everyone’s best interest, and the August report tells us we’re definitely getting closer.”

Northwest Multiple Listing Service, owned by its member brokers, is the largest full-service MLS in the Northwest. Its membership includes more than 24,000 brokers and agents. The organization, based in Kirkland, currently serves 19 counties in western and central Washington.

Best Regards!

David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
 
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

WESTLAKE VILLAGE, California: July 30th 2009 — Extra services provided by real estate companies such as inspections, appraisals and legal and moving company recommendations have become increasingly important to home buyers and sellers, according to the J.D. Power and Associates 2009 Home Buyer/Seller StudySM released today.

The study, now in its second year, measures customer satisfaction of home buyers and sellers with the largest national real estate companies. Overall satisfaction is determined by examining three factors for the home-buying experience: agent (47%); office (28%); and package of additional services (25%). Four factors are examined for the home-selling experience: agent (34%); marketing (34%); office (17%); and package of additional services
(15%).

For both buyers and sellers, the agent is still the most important driver of overall satisfaction. However, the importance of agents has declined substantially from 2008, while the importance of additional services has increased considerably—by 12 percentage points among buyers and 8 percentage points among sellers. In addition, actual usage of many of these services has decreased from 2008, likely due to cutbacks made by real estate companies in response to a depressed market.

“In a tight market, every aspect of service offered will be scrutinized very closely,” said Jim Howland, senior director of the real estate and construction practice at J.D. Power and Associates. “For this reason, it is critical for real estate companies to promote the value that they bring to buyers and sellers, not only in any additional services they offer, but also in their agents and operations.”

In the home-buyer segment, Keller Williams ranks highest for a second consecutive year, with a score of 806 on a 1,000-point scale. Keller Williams also performs particularly well in the agent factor. Following in the rankings are Coldwell Banker (801) and RE/MAX (798). Coldwell Banker performs particularly well in the office factor. Among home sellers, Coldwell Banker ranks highest with a score of 815 and performs particularly well in all four factors. Keller Williams follows Coldwell Banker in the segment ranking with a score of 801.

The study finds that the proportion of first-time home buyers has increased considerably—to 56 percent in 2009 from 44 percent in 2008. Many of these first-time buyers may be attracted by improved home affordability and the perception of a strong buyer’s market. This presents both challenges and opportunities for real estate companies.

“The presence of more first-time buyers is encouraging, as it indicates that the real estate market is returning to more normal activity, with fewer speculators,” said Howland. “However, real estate companies and agents must carefully manage first-time buyer expectations. Although these buyers may believe otherwise, they must still overcome the traditional barriers to purchasing a home, such as being able to fund down payments, closing costs and monthly payments. Solid advice and service from agents may assuage these first-time buyers’ concerns and build customer loyalty.”

Additional noteworthy study findings include the following:
? Home sellers report that, on average, 3.2 open houses were conducted for their property in 2009, compared with 4.5 in 2008.

? Approximately 64 percent of home sellers used a Web site listing to market their home in 2009, up from
61 percent in 2008.

The 2009 Home Buyer/Seller Study includes more than 3,100 evaluations from 2,801 respondents who bought or sold a home between April 2008 and June 2009. The study was fielded between April and June 2009.

For more information, read an article or view home buyer ratings and home seller ratings at JDPower.com. Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on home building and home improvement, car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies. J.D. Power and Associates Media Relations Contacts: John Tews; Troy, Mich.; (248) 312-4119; media.relations@jdpa.com Syvetril Perryman; Westlake Village, Calif.; (805) 418-8103; media.relations@jdpa.com.

David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT

The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

Some surprisingly good news on the housing market hit the wires this week. Pending Home Sales rose in June for the fifth straight month, fueled by low home loan rates and bargain home prices.

Bonds and home loan rates definitely showed some serious energy and persistence this week, despite some serious headwinds, including additional supply flooding the market from this week’s big Treasury auctions.

The Treasury unloaded an enormous supply of paper onto the markets last week and anytime there is more supply than demand, it means prices will naturally decline. And when prices decline, home loan rates go up. The heavy supply hitting the market caused some wild volatility for rates midweek, but overall home loan rates managed to find some improvement by the end of the week.

It won’t be long before another enormous supply of Treasuries comes on the market. In just two weeks, we’ll be looking at a fresh round of auctions. It used to be that the dates of economic news would be circled on the calendar as the ones to watch for greater movement in Bond prices but right now, the supply issue has become so important that it now may be the most dominant current factor in Bond pricing and home loan rates.

David J Edwards

Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT

The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

After meeting with REALTORS last week, key Senator introduces legislation to extend tax credit until June 2010 AND make it available to ALL buyers.

Senator Patty Murray has authored language to extend the $8000 First-Time Buyer Federal Tax Credit until June of 2010 and to make the extended tax credit available to all homebuyers until that date. This language also removes the income “cap” for receiving the credit. The current credit is only available to those who have not owned a home within the past three years and is available to purchases that close no later than November 30.

In a meeting with Seattle King County REALTORS® on May 13, 2009, Senator Murray said she favored an extended tax credit for homebuyers. Her attempt to attach this amendment to a supplemental appropriations bill last week failed on a procedural motion. However, sources say her language could remain eligible for consideration by the Senate later this year.

Source: Seattle King County Association of REALTORS Broker Update, June 2009

David J Edwards

Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT

The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.

Although it’s sometimes hard to feel, home purchase activity in the Northwest is trending upward. In the first quarter of 2009 the percentage of home purchases vs. refinances increased from 11% in January to 23% in March.
Although still a long way from the 7 to 3 purchase to refinance ratio of a few years ago, it’s heading in the right direction.

We don’t really want to be where we were a few years ago anyway. The more steady the recovery, the more likely we are to avoid another runup that will borrow buyers from the future. We want the recovery to take the shape of a “V” rather than the shape of a “W” which would result in another drop before we stabalize.

A slowdown could easily be caused by the Federal Government’s failure to renew the first time homebuyer tax credit and/or a rise in interest rates for home loans.

Best Regards

David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week’s Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT

The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.