Bremerton, WA

It is the little things of an area that always intrigue me. Since I moved back to Bremerton and restarted my real estate career with blogging I have wanted to take a picture of the "Welcome to Bremerton" sign that greets those leaving Highway 3 at Kitsap Way. I always thought it nice for a city to have these types of signs. There is one on Wheaton Way in East Bremerton too and I am sure a few more I haven't seen.

I just kept putting off my stop to the sign because it was in need of cleaning. One day I even took a jug of water and a Magic Eraser with me so that I could clean off the green mossy stuff that grows on stuff here in the Bremerton area of the Kitsap Peninsula. I pulled in the parking lot of the Dairy Queen across the street but just didn't have the nerve to go and clean the sign! I do some pretty kooky things around town getting pictures for my blog and all I could think of was two words, "Crazy Lady".

I spent 3 weeks up in Alaska the end of July and into August and on my way home after my return flight I turned off Highway 3 onto Kitsap Way and there it was - the sign - all shiny and new! A new color, a new design and WOW how cool!! This is the style of the new signs downtown around the Bremerton Boardwalk. I was just too excited. So after a couple of weeks getting back into the groove of business I made a special stop to take the picture. I know this sounds silly - but this is where I live and I love it!

Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved

On Sunday I spent the afternoon downtown Bremerton to take in the activities of the 19th Annual Blackberry Festival.  I parked a couple of blocks from the Bremerton Boardwalk and was glad I did because while on my walk to the Boardwalk I ran into the  4th Annual Blackberry Criterium. I really enjoyed watching the races and took this video to share with you.

Listening to the announcer I learned that these riders were sometimes traveling at around 22 mph! The race runs all day long with lots of different levels and types. There is also a race for those under the age of 11. Total cash prize given out was at least $3600! I was amazed that some of these races were over an hour in duration! I really enjoyed watching this event at the beginning of my day and as I was leaving the festival.

Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved

Are you sitting on the fence? Have you read the many horror stories across the nation? Well, remember real estate is local and here in the Kitsap County area we are in an amazing buyer's market. It just might be the perfect time for you to purchase a home if you are a First-Time Home Buyer. Here is a nudge to get you into the housing market. On July 30^th President Bush signed into law House Bill 3221 (H.R. 3221: Housing and Economic Recovery Act of 2008) which included a special tax incentive for First-Time Home Buyers (Sec.3001). This bill provides a tax credit up to $7,500 for homes purchased on or after April 9, 2008, which the First-Time Home Buyer will repay over 15 years following the purchase. This is not a down-payment assistance program, but rather a ZERO INTEREST LOAN that has some amazing features.

• The tax credit is available for first-time home buyers only. Purchaser (and spouse) may not have owned a principal residence in the previous 3 years.
• The maximum credit amount is ten percent of the cost of the home and can not exceed &7,500.
• Property eligible is any single-family residence that will be a principal residence.
• The credit is available for homes purchased on or after April 9, 2008 and before July 1, 2009.
• There are income limits. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
• The tax credit works like an interest-free loan and must be repaid over a 15-year period. Each year 6.67% of the credit to be repaid – if you received the full credit that is only $500.25!. If sold before 15 years than remainder of credit is paid at time of sale.

If this sounds interesting to you why not give me a call so we can discuss it in more detail and I can get you in touch with one of my local lenders. I do not want you to think I am an expert in this area but I do have a network of mortgage lenders that are. You might also want to discuss this with your CPA. I am not allowed to practice law or give tax advice.

Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved

Here is the Real Estate Market Activity for January - July 2008. Check back each month to see the monthly 2008 trend for Bremerton WA.


On July 31st there was 565 homes for sale with 1 of those homes listed as a contingent sale and 57 of homes listed as Pending Inspection (new NWMLS term STI was replaced) which means there is a contract that has been presented and excepted by the seller with the condition of the home inspection. Once the home inspection has taken place these 57 homes will either go back on the market or be listed as pending. These homes are not available for public view and will not show in the active section of the Northwest Multiple Listing Service. (NWMLS)

During the Month of July 113 homes were new to the Bremerton area Real Estate Market with a median price of $245,000

During the Month of July 33 homes went under contract and were removed from the active Bremerton homes data base. The median price for Bremerton area homes was $229,500 with a market time of 80 days (median).

During the Month of July 87 homes sold - which means that ownership changed hands and there are new owners listed on the tax records recorded at the Kitsap County courthouse. These Bremerton area homes were on the market 77 days (median) and sold for a median price of $229,950.

The Absorption rate in the Bremerton area is 31.03 weeks or approximately 7.14 months of inventory if the current conditions remain unchanged. This figure has really improved for the Bremerton area.

An absorption rate is the mathematical relationship of supply and demand. The absorption rate is the number of months it would take to sell the entire inventory of homes in the Bremerton area of Kitsap County if the pace were to stay constant.

My definition breaks down like this...

Normal Market - Between 5 and 6 months of inventory.

Seller's Market - Between 1 and 4 months of inventory.

Buyer's Market - 7 months and higher.

If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis .

If you would like to purchase a home in the Bremerton WA Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

"Statistics not compiled or published by NWMLS."
Equal Opportunity Housing
All information deemed reliable, but not guaranteed

Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved

Event:

19TH ANNUAL BLACKBERRY FESTIVAL

Event Date: August 30, 2008

Event Time: 10:00am - 8:00pm

Festival Hours:

Saturday, Aug. 30th-10 AM to 8 PM

Sunday, Aug. 31st-10 AM to 7 PM

Monday, Sept. 1st-10 AM to 6 PM

You want to know where the action will be this weekend in Bremerton? DOWNTOWN – HARBORSIDE! This is the weekend for the 19^th Annual Blackberry Festival held down on the Bremerton Boardwalk.

There will be over 100 booths with everything from arts & crafts to you guessed it "FOOD"! You know what kind of food I am talking about! Hamburgers, hot dogs, corn dogs, chicken burgers, BBQ ribs, chicken and beef brisket, corn on the cob and oh man dare I say more!?

You will also find tons of amazing ethnic foods like teriyaki, shrimp on a stick, spring rolls, gyros, crepes and tacos! Don't forget the Blackberry delights!! Blackberry slugs, scones, pie and that amazing Blackberry shortcake!! After all it is the Blackberry Festival.

I don't know why I love it so – I sure hate those pesky bushes creeping up in my flower beds!! But on this weekend they are my friend!! Of course you know it its down at the Boardwalk there is going to be music and lots of it! Here is the line up for this year:

Saturday, August 30th

10:00-11:30 Smilin' Scandinavians

11:30-12:00 Opening Ceremony

12:00- 1:45 Mark Lewis Quartet

2:00- 3:45 Everyday Jones

4:00- 5:45 T.J. Casey

6:00- 8:00 Kelly Thibodeaux & Etouffee

Sunday, August 31st

10:00-11:45 Forget Me Nots

12:00- 2:00 HD Fusion

2:30-4:30 Soul Purpose

5:00-7:00 Ron Thompson

Monday, September 1st

11:00 – 1:00 Scott Cossu

1:30 – 3:30 Clave Con Jazz

4:00 – 6:00 Ron Thompson

Make sure to make it out this weekend to support the local area and the amazing artists and musicians. There will be reduced admission tours of the USS Turner Joy and if you haven't seen the new Bremerton Marina you are in for a treat!

If you see me down there –be sure to say hi – I might not be able to shake your hand because I am a cotton candy nut!!

Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved