Edmonds, WA

Edmonds, WA -- I've heard about her story and now it looks like she's gone viral and her story has been picked up by the Seattle times. Local fundraiser Carol Schillios has been on her business' rooftop since late July trying to raise money for a number of causes, including a health clinic in Nepal.

If you want to see for yourself, give a donation or just to ask her a few questions of your own, you can visit her at downtown Edmonds.

October 2009 condo real estate sales statistics for Edmonds, WA

For October, the condo real estate market in Edmonds, WA was up. That's obviously a relative assessment but this month we saw a second month in a row of 30+ new listings on the market compared to previous months where only half as many new listings were put on market. This could show of confidence from condo owners that they are will be able to sell their homes in the condo real estate market in Edmonds, WA.

And their belief seems to be supported by the numbers too (see my chart). Pending sales for Edmonds condos nearly tripled from last month and are up by 15-fold from the last 12 months. There were 17 completed sales this month and that number has been see-sawing back and forth but still holding steadily above 10 per month since May of this year.

To summarize:

• Condo sales in Edmonds are tracking steadily at around 15 per month;
  
• Most inventory is from the last 2 months which means that most other listings put on market prior to September that have not yet sold are Pending.
  
• New condo listings in Edmonds are also up signficantly.

Prognosis: It seems that the Edmonds condo market is picking up a bit. I'm seeing slightly stronger demand from buyers recently too. It is hard to say for sure how much is due to the first time home-buyer tax credit - which looks like it is close to being both extended and expanded - and how much is due just to buyer sentiment about a better real estate market and economy in general. But we'll take the good news for what it is: good news.

As for average condo prices in Edmonds, both average sales price and asking price are still below year-ago levels but are up from earlier this year. They rallied the first part of the year and then fell again the past several months but are still tracking around $300,000.

Because Edmonds has such a wide variety of condos - from your modest complex in Meadowdale to the high end project at Point Edwards - I might try and run some anaysis that breaks down these differences. Let me know if that would interest you as readers.

EDMONDS, WA -- This week, new data came out reporting that home prices were up nationally, but down locally here in the greater Seattle region. That's not so much of a surprise since we know that the Puget Sound generally lags behind the nation as a whole. Rather, it's good news. Because we get to see the light at the end of the tunnel far sooner than those who were at the front of the line. So take heart, Puget Sounders! We have likely seen the worst of the economy and its effects on our work and personal lives.

Follow this link for more details on the national housing report.

The Case-Schiller home price index shows that home prices in August were down 14.7% from a year ago. My analysis of the Edmonds real estate market indicates that locally, we have seen that prices are down 9.3% for single family houses and down 11.1% for condos.

Check out my previous blogs to compare my own analysis of home pricing trends in Edmonds & Shoreline to that of the greater Seattle region or nationally.

Well it looks like the first-time home buyer tax credit is gaining some traction for an extension and an expansion. There are several bills on the hill - in both the House and the Senate - that are aimed at extending and expanding the $8,000 tax credit.

Here are two that are of note that are currently in the works.

• Representative Joe Courtney (D-CT-2) introduced the First-Time Home buyer Tax Extension Act (H.R. 1993) which, if enacted, would extend the First-Time Home buyer Tax Credit through 2010. H.R.1993 has been referred to the House Committee on Ways and Means for further review.
  
  
• The Home Buyer Tax Credit Act (S.1230) was introduced by Senator Johnny Isakson (R-GA) on June 10, 2009. If enacted, S. 1230 would replace the $8,000 tax credit established by the American Recovery and Reinvestment Act with a $15,000 maximum tax credit for first-time home buyers. Under this Act, repayment of the credit is waived unless the home is sold or unoccupied within a two-year window. S. 1230 has been referred to the Senate Finance Committee.
  
  
• The Senate has already agreed to extend the existing tax credit for first-time home buyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years.

It should be noted that nothing is a done deal yet as both the House and Senate must agree to any differences before sending a bill off to the President for final ratification. Congress is also looking into the finances and fraud related to the tax credit and I'm sure that will have to be resolved before anything happens for sure.

Edmonds, WA -- As a city of barely 40,000 residents, it's a wonder that so many people spend so much money to run for office in Edmonds to win a seat on the city council here. The candidates raise more per citizen than all but three other cities in the state: Seattle, Olympia and Shoreline. They outspend the next highest city in Snohomish County by double (Everett).

I don't have a complete grasp as to why this is, but clearly people in this city go nuts over the political machine down there on 5th Ave N.

A more complete article on running for office in Edmonds, WA can be found at the Everett HeraldNet.

Here's a summary of the top spenders, per capita:

1. Seattle: $1.84 raised per resident
   
2. Olympia: $1.74
   
3. Shoreline: $1.70
   
4. Edmonds: $1.58
   
5. Bellevue: $1.24