Thursday, November 20, 2008

Work for Food in Seattle WA


A little less than a year ago I began my “Work for Food” campaign to support the Hungry in Seattle. My intentions were to donate a portion of my personal real estate commission to support local food banks and soup kitchens.

To date I’ve raised over $2,000!!!

Half was donated to the Phinney Neighborhood Association which operates a Soup Kitchen that feeds over 22,000 homeless, low income, elderly and disabled people each year.

The other half was donated to the Ballard Food Bank which distributes food, clothing and personal hygiene items plus provides three hot lunches a week to people in need.

In 2009 I intend to continue this campaign. With the current economic crisis we are facing, these two non-profits, as well as many others, need all the help they can get. Please keep them in mind this holiday season.

More Information

Monday, November 10, 2008

Conforming Loan Limits

I've just received word that the new temporary conforming loan limits for King, Snohomish and Pierce Counties have been announced. The new limit will be set at $506,000 for loans purchased between January 1, 2009 and December 31, 2009. This replaces the 2008 temporary loan limit of $567,500.


Friday, November 07, 2008

Home Sales in North Seattle Washington

After a busy summer home values in north Seattle Washington continue to move down. The median priced home sold for $424,500. Down from its peak in May of $512,475. Sales volume continues to decrease as well with only 98 total homes sold.

Tightened standards for obtaining financing plus the negative news on the economy is the likely cause. I expect values and volumes to continue to slip in November.

There are many great buying opportunities with this market. Today Sellers are motivated and interest rates are low. We may be looking back at this winter as one of the best Buyer's markets we've seen for quite a while.

Take a look at this interesting article titled "Real Estate Markets Most Likely to Rebound" Forbes.com

Sales Value
Sales Volume

Home Sales in Central Seattle WA

The median priced home value in central Seattle Washington have been pretty flat since March. Hovering just above or just below $600,000. It moved from $571,475 in September up to $596,250 in October.

For that same period, the sales volume has been flat as well. It's been hovering around 50 homes sold each month, but in October that dropped to 40. A surprise since there were 59 homes pending in September. Tightened standards for obtaining financing plus the negative news on the economy is the likely cause.

What will happen in November? Good question.

The volume of homes sold will likely be in the high 30's since there are 42 pending sales in October. Although, it may be lower depending on the confidence of home buyers. The median home price will likely remain under $600,000.

There are many great buying opportunities with this market. Today Sellers are motivated and interest rates are low. We may be looking back at this winter as one of the best Buyer's markets we've seen for quite a while.

Sales Value Graph
Sales Volume Graph

Tuesday, November 04, 2008

Homes Sold in Central and Northwest Seattle October 2008

October 2008 continues to be tough for the real estate market in Seattle Washington. The non-stop negative news with the economy is having a heavy effect on the attitudes of Buyers.


Queen Anne
24 single family homes sold on Queen Anne in October which was a nice improvement from the 16 that sold last month . 41.7% were sold within 30 days at 97.2% of the listing price.
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Magnolia
15 single family homes sold in Magnolia in October, which is up from 8 that sold last month. 26.7% were sold within 30 days at 100% of the listing price.
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Ballard (Zip Code 98107)
17 single family homes sold in Ballard in October, which is down from 24 last month. 29.4% were sold withing 30 days at 97.3% of the listing price.
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North Ballard (Zip Code 98117 including Loyal Heights, Olympic Manor, North Beach...)
35 single family homes sold in north Ballard in October, which is consistent with the 34 homes that sold last month. 48.6% were sold within 30 days at 98.9% of the listing price.
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Green Lake, Phinney Ridge, Wallingford (Zip Code 98103)
27 single family homes sold in the greater Green Lake/Wallingford area in October. 55.6% were sold within 30 days at 98.9% of the listing price.
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Ballard Art Walk November 2008

I won't be at the Ballard Art Walk in November. Instead I'll be volunteering at the Phinney Neighborhood Association's 21st Annual Winter Beer Taste. If you'd like to join me or get more information go to: http://www.phinneycenter.org/events/beer.shtml

Two associates of mine, Susanne Stauffer and Erin Goodwin, will be taking my place at the Art Walk. They'll be hosting photographer Irene Stauffer. http://www.seattlehomekey.com/artwalk.htm