Seattle housing market hits new low: Report - Puget Sound Business Journal (Seattle):

Seattle housing market hits new low: Report - Puget Sound Business Journal (Seattle):

An interesting news article however, it is not representative of north and central Seattle. In those areas, according to the NWMLS, the low was in March of 2009. Since then home values have been improving gradually.

Just Sold In West Seattle

Just sold for $399,950.0 0 at 3827 33rd Ave SW, Seattle, WA 98126!

AMAZING city and harbor view from this beautifully remodeled West Seattle Bungalow.

Incredible gourmet kitchen with custom cabinets, Viking range, 2nd oven, slab granite counters, & tile floor (very Tuscan) with a very elegant dining room with fireplace.

Gorgeous white painted millwork throughout the home. Watch the city sleep from your master bedroom loft through the extraordinary skylights! Basement boasts lots of space for 2nd family room, theatre room, den & wine cellar!

Great VIEW & great location!

Homes Sold in North Seattle WA

The median priced home in north Seattle, Washington was $407,500 in December. With luck home values in January will stay above $400,000 and the low point of 2009 which was $394,250 last March.

The number of homes sold in north Seattle moved down to 206 and pending homes dropped to 163. This is typical for this time of year since many home Buyers have put their search on hold during the holidays.

I expect January to be the low point of the year for home sale values and volumes for 2010.

Homes Sold in Central Seattle, WA

The median home price in central Seattle Washington was $506,500 in December. Home price for pending homes was listed at $489,250. It looks clear that home prices in January of 2010 will continue to drop with a possible dip below the low in March of 2009 of $480,000.

The number of homes sold in central Seattle dropped to 113 in December. Pending homes dropped dramatically. Home buyer put there search on hold for the holiday season. I expect fewer homes to sell in December, but more homes to go pending which signals the begin of a new cycle for 2010.

Ballard Art Walk

I'll be featuring works by photographer Kelsey Scherler at the Ballard Art Walk in January.

Artist Statement:

I've always enjoyed the solitude and introspection that photography can bring, as well as the personal connections I can make while taking someone's portrait. I am inspired by surrealism and storytelling, as well as the natural sciences and anatomy.

Stop by Saturday January 9th, 2010 from 6 to 9 PM at the FORUM CENTER, which is located at 1718 NW 56th Street, Seattle, WA 98107.

For more information go to: http://www.seattlehomekey.com/artwalk.html

Homes Sold in Central Seattle WA

The median home price in central Seattle Washington was $551,200 in November which is up slightly from October.

One may wonder what happened to the typical slow down this time of the year brings. It is hard to know for sure but it may have something to do with the Tax Credit Extension. A home priced for $550,000 is not the typical purchase for a First-Time-Home-Buyer. However, the new extension also give a credit to Home-Buyers who have lived in their home for the last 5 years in the amount of $6,500. This may be stimulating homes priced under $800,000 in a way we haven't seen in the past.

The number of homes sold in central Seattle continued to rise in November. However, pending homes is on the decline. I expect fewer homes to sell in December and likely bottom out in January.

Homes Sold In North Seattle WA

The median priced home in north Seattle, Washington was $415,509 in November. Looking at the line graph below home values appear to be moving up since October. Unfortunately it is misleading. The reason for this increase is due to a home that sold for $11,500,000 that is close to 10,000 square feet in size in Laurelhurst! I believe home values would have continued to slide down since October if that home hadn't sold.
The number of homes sold in north Seattle moved down to 236 and pending homes dropped to 119. This is typical for this time of year since many home Buyers have put their search on hold during the holidays.

Home values and volumes should continue to slide through January 2010.

Ballard Art Walk

I'll be featuring works by painter Kate Tesch at the Ballard Art Walk in December.

The iridescent, glimmering drips forming layers of color are the inspiration for this series. To create a sense of wonder, a dream like abstraction of the world through my window.

Stop by Saturday December 12th, 2009 from 6 to 9 PM at the FORUM CENTER, which is located at 1718 NW 56th Street, Seattle, WA 98107.

For more information go to: http://www.seattlehomekey.com/artwalk.html

Homes Sold in Central Seattle

The median home price in central Seattle Washington was $531,200 in October which continues a slight decline from its high in July. The number of pending and sold homes in central Seattle plateaued in September and October with 119 homes sold each month.

Values and volumes should continue to decline through January 2010 unless something unexpected happens due to the Tax Credit Extension.

Homes Sold in North Seattle WA

The median home price in north Seattle Washington started its seasonal dip in October at $410,000. The number of pending and sold homes in north Seattle peaked for the year in June with 317 homes sold. 280 sold in October which is the largest volume for that month since before 2006.

Values and volumes should continue to slide through January unless the Tax Credit Extension causes an unexpected increase.

Tax Credit Extended

Below is the content from an email I received from the Washington REALTOR Association about the Tax Credit Extension. I hope you find this information helpful.
-Andrew


Great News For Washington Homebuyers!

President Obama signed the Worker, Homeownership, and Business Assistance Act of 2009 into law today. The legislation greatly expands the First Time Homebuyer Tax Credit by making more first time homebuyers eligible for the credit and now includes homebuyers that are not first time homebuyers. This new legislation is a huge victory for you, the Washington REALTORS and the National Association of REALTORS.

First Time Homebuyers
The current law is extended until April 30, 2010. Buyers have until that date to have a signed purchase agreement. There is an additional 60 day grace period to complete the financing. More first time homebuyers are eligible because the new law raises the annual income limits from $75,000 to $125,000 for singles and from $150,000 to $225,000 for married couples.

Current Home Owners
Over 60 percent of current home owners will be eligible for a tax credit of up to $6,500 if they purchase a home by April 30, 2010. These homebuyers must have lived in their home for five consecutive years over the previous eight years to qualify. Qualified homebuyers can get the credit if they purchase a home for $800,000 or less as their primary residence between November 7, 2009 and April 30, 2010. The income limits are the same as the First Time Homebuyer listed above.

Please see the links below for details regarding the new legislation:
Frequently asked questions regarding the new Homebuyer Tax Credit.
A chart comparing the original Tax Credit with the new, expanded Tax Credit.
Press Release (11/06/09) Washington REALTORS & the new Tax Credit.
REALTORS helped State Leaders Express Support

Ballard Art Walk

I'll be featuring works by photographer Ellie Sprague at the Ballard Art Walk in November.

Sprague's work features horses. From wild horse in the reserves of Idaho and Montana to small town rodeos in the Northwest. She captured moments of quick action, quiet solitude and the emotional interaction.

Stop by Saturday November 14th, 2009 from 6 to 9 PM at the FORUM CENTER, which is located at 1718 NW 56th Street, Seattle, WA 98107.

For more information go to: http://www.seattlehomekey.com/artwalk.html

Homes Sold in Central Seattle WA

The median home price in central Seattle Washington was $549,750 in September which continues to decline from its high in July. Values should hold steady for October but will then likely begin a normal decline as winter approaches.

The number of pending and sold homes in central Seattle continues to rise so far this year. 119 sold in September and it looks like September or October with be the peak.

Homes Sold In North Seattle WA

The median home price in north Seattle Washington continued to rise in September to a high for the year of $432,750. Values may hold steady for October but will then will likely begin a normal decline as winter approaches.
The number of pending and sold homes in north Seattle peaked for the year in June with 317 homes selling. 248 sold in September and that number should continue to decrease through January 2010.

Ballard Art Walk

I'll be featuring works by painter William Scales at the Ballard Art Walk in October.

Scales' current show of watercolors focused largely on Seattle and the northwest with highlights from recent travels to England and Italy. His work is an attempt to simply appreciate and celebrate the variety of forms, textures and conditions of light that we experience every day.

Stop by Saturday October 10th, 2009 from 6 to 9 PM at the FORUM CENTER, which is located at 1718 NW 56th Street, Seattle, WA 98107.

For more information go to: http://www.seattlehomekey.com/artwalk.html

Satisfied Real Estate Clients

I am grateful to have received this letter of recommendation from my clients Adam and Heidi recently.
-Andrew

As a first time homebuyer, we had no real idea how the real estate market worked. We had a general idea of what we wanted in a house, the general location where we wanted to live, and our budget.

We ran into Andrew at an open house he was holding. After talking for a few minutes, it was apparent Andrew had an excellent grasp and knowledge on the Seattle housing market. Andrew’s office was in the same neighborhood we lived, and he also explained how involved he was in the community - especially with the art walks he volunteers for. It was a relief to meet someone who was as passionate about his community as we are. We exchanged contact information and the process began.

Andrew graciously showed us about ten places in one day. This helped us get an idea what we could get with the budget we had allotted. It turns out the home we chose was the same house we met Andrew originally at the open house!

The purchasing process was so painless, it was amazing. Andrew had great recommendations on which inspector to use, among many other things. The best part about using Andrew as our real estate agent was his willingness to communicate at all times. It seemed he was always available to take a phone call or to meet in person. He explained everything in detail and helped us complete the transaction as smoothly as can be imagined. We very much look forward to working with Andrew to secure more real estate transactions in the future!

Thanks again,
Adam and Heidi

Read other letters of recommendation about Andrew L. Parker at http://www.seattlehomekey.com/testimonials.htm

Ballard Art Walk

I'll be featuring works of photographer Karen Ulvestad at the Ballard Art Walk in September.

Ulvestad was born and raised in the greater Seattle area. Her work spans over 25 years of photographing the Pacific Northwest, and beyond. Ulvestad will be featuring a culmination of work she has done on the island of Kauai.

Stop by this Saturday September 12th, 2009 from 6 to 9 PM at the FORUM CENTER, which is located at 1718 NW 56th Street, Seattle, WA 98107.

http://www.seattlehomekey.com/artwalk.htm

Homes Sold in North Seattle WA

Sales Value Line-Chart
The median home price in north Seattle Washington was $414,500 in July. From May of 2008 through March it slid downward from a high of $512,475 to a low of $394,250. Since then prices have stabilized and they should continue to improve through the summer.

Sales Volume Line-Chart
The number of pending and sold homes in north Seattle may have peaked for the year in June. Close to 147 homes sold in July down from 158 in June. 141 homes are pending which is down from 180.

www.seattlehomekey.com

Homes Sold in Central Seattle WA

Sales Value Line-Chart
The median home price in central Seattle Washington inched up to $548,000 in July. From December 2008 through March 2009 median values slid from a high of $647,500 to a low of $480,000. It appears April was the turning point and values should continue to rise through the summer.

Sales Volume Line-Chart
54 homes sold in July in central Seattle. It appears June will likely be the peak for the year with 56 homes sold, in which more homes sold than any month since August of 2007.

The gap between homes that have closed and homes that are pending continues to be larger than normal. It's likely due to stricter rules for getting a loan and may also be due to the number of short sales on the market. According to the NWMLS 12% of the homes sold in King County are short sales which tend to take longer to close.

www.seattlehomekey.com

Ballard Art Walk

In August I'll be featuring works of photographer Jena Locomis Garcia at the Ballard Art Walk.

"I love the idea of where we have been, what was here and not here before us, and what has stood the test of time. I adore the stories objects tell. As a photographer, many of my stories don’t involve a word. Images tell just enough of the story, leaving the rest up to our imaginations."

Stop by this Saturday August 8th, 2009 from 6 to 9 PM at the FORUM CENTER, which is located at 1718 NW 56th Street, Seattle, WA 98107.

http://www.seattlehomekey.com/artwalk.htm