Monday, October 06, 2008
According to “Broker Agent Professional” home builders are providing incentives to purchase their products. Among the most popular are
Providing a discount to those who serve in the military or civil service. Many builders are offering $5,000 discount to those in uniform
Lowering the asking price on “spec homes”. .. (read more)
Saturday, October 04, 2008
While many markets are experiencing increased inventory as a result of fewer sales, the Tri-Cities inventory has been reasonably stable. Our total homes for sale are only 13 more homes than we had a year ago at this time. Our September sales are reflecting a 35% drop from a year ago. It would appear that with our strong economy, fewer home owners are placing their homes on the market; thereby.. (read more)
Saturday, September 13, 2008
As storms pass through the SE portion of the United States, we have to consider ourselves blessed with the Tri-Cities area weather. Our weather has been nearly perfect this month. In addition, we do not have hurricanes, earth quakes, floods or tornadoes. We do not have temperatures exceeding 110 degrees for months or temperatures dropping below zero. Occasionally.. (read more)
Thursday, September 04, 2008
Our inventory has been fairly constant for the last three months hovering around 1400 homes available for sale and about 24% is new construction. Our sales continue to show some softness with sales for the month of August at 231 homes which is about 20% fewer than the month prior. In fact August sales resemble sales in December of 2007. Our median price has dropped to.. (read more)
Sunday, August 31, 2008
Frequently I am asked what the standard markup is for housing prices. This question makes the assumption that home seller understand the true market value of their home and collectively home sellers mark homes up “x” percent above the market value.
The reality of the situation is that based upon information provided, some home sellers may know within a few thousand dollars the market.. (read more)
Monday, August 25, 2008
Summer is nearly over. School is in session this week and college football games start Saturday.
One trend that I am beginning to see is that many seniors are being attracted to the southern climates of Arizona and New Mexico as retirement locations. Once there, they begin to reevaluation their decisions. As one person stated, I did not realize that it is over.. (read more)
Sunday, August 10, 2008
Our market is showing signs of weakness during the last month. Our sales from June to July 2008 dropped 32%. This is the largest drop in sales that I have personally seen during a one month period. When compared to last year at the same month, the sales for July 2008 are 40% less. The new lending rules that went into effect during April 2008 maybe having an impact upon our.. (read more)
Saturday, August 02, 2008
Our market sales for July 2008 were softer than most expected. Our total sales through the multiple listing service were 221 homes. This figure is 32% lower than the previous month and 40% lower than the same time last year. Our pending sales were 175 homes which indicated a drop of 17% from the previous month. These figures imply that unless our sales volume increase, we should.. (read more)
Saturday, July 26, 2008
Here are some interesting housing statistics for the year 2007 in Washington State.
The median age of first time home buyers was 31 years of age.
The median income of home buyers was $73,900.
Sixty-two percent of home buyers indicated that they had no children under the age of 18.
Twenty-one percent of the home buyers were single females and six percent were single males.
First time home buyers.. (read more)
Sunday, July 06, 2008
Our market seems to be holding its own while many parts of the nation are facing what some may call a real estate correction. The number of homes for sale is nearly identical to a year ago. The same is true for the average days on the market. We have seen about 20% fewer homes selling this year; however our average and median prices are showing gains. Below $250,000.. (read more)
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