Poulsbo, WA

The picture shown above was taken for Mother's Day 2009. From left to right: Alex, our daughter-in-law (Ben's wife); Luke, Ben, Emily, and Elliot.

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Rich Jacobson is a licensed real estate professional providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, SOUNDBITEBLOG, and Crabbing in the Hood, or e-mail: kitsapagent@gmail.com

Here is the real estate market report for NWMLS Area 166 - Poulsbo WA - as of May 5, 2009.

Current Active Listings: 149

Sold in Past 6 months: 56

Average Sales Price: $343,698

Average List Price: $357,907

Ratio of LP vs. SP: 96%

Days on Market: 98

Pending this week: 11

The market indicators here in Kitsap County WA seem to be showing a welcomed improvement in overall activity and sales. Part of this can be attributed to normal seasonal changes/dynamics, but there is clearly a notable increase of Buyer activity taking advantage of low rates and home price reductions.

SR 104 - Hood Canal Bridge 2009 Closure

The Hood Canal Bridge is currently closed for six weeks (beginning May 1st) to allow work crews to replace the east half of the bridge and the east/west trusses. For full details, access the WSDOT website.

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Rich Jacobson is a licensed real estate professional providing empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, SOUNDBITEBLOG, and Crabbing in the Hood.

In our last episode, Bill and Betty Buyer were sitting down with their trusty Agent, Realtor Ron, to draft an offer on their dream home. They had spent the past 3 weekends touring dozens of potential properties, when they finally found just the perfect place!

When it came time to discuss the offer price, Bill proudly asserted, “We’re going to offer them $50K below the Listing price, and ask them to pay closing costs too!”

Pulling his jaw off the floor, Realtor Ron looked down on the MLS data-sheet for the subject property.

“Their home has only been on the market for less than two weeks,” Realtor Ron stated.

Pulling up statistics for several comparable properties in the same neighborhood that had sold in the past month, Realtor Ron showed the Buyers how the property was actually priced very aggressively, below many of the most recent sales. In addition, a quick check on the County Website revealed that the home was priced just below the property tax assessed valuation as well.

“But it’s a ‘Buyer’s Market,” responded Betty Buyer, “Aren’t all Sellers desperate?”

Will Realtor Ron write up the low offer? Or Will Bill and Betty Buyer realize the err of their ways? To discover the outcome to this dilemma, tune in to SOUNDBITEBLOG.

For Part One of this Series, go HERE.

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Rich Jacobson is a licensed real estate professional providing empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, SOUNDBITEBLOG, and Crabbing in the Hood.

Statistics we refer to are for that part of Poulsbo encompassing the downtown core, from the head of Liberty Bay southeast to Ne-Si-Ka Bay, including parts north to Sawdust Hill Rd. The market for other parts of Poulsbo and its suburbs should have approximately similar trends. Homes in Poulsbo were selling for a three month moving average median sale price of about $279,000 at the end of March, down about 19% from a year ago. Poulsbo's March median sale price was $323,000, about 8% lower than in March 2008. Kitsap County’s 3 month moving average median price has fallen 15% over the past year. The 3 month moving average number of Poulsbo closed sales is down about 45% from a year ago. March pending sales in Poulsbo were up 18%. The number of March closed sales for Kitsap County dropped 21% compared to last year. The Poulsbo listing inventory (141) is 12% lower than a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 8.8 months, improved from 30 months last month.

More about Poulsbo Real Estate

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This picture was taken looking down the ramp to the mooring berths of the Poulsbo Yacht Club in Little Norway (Poulsbo WA) and looking out onto Liberty Bay.

Rich Jacobson is a licensed real estate professional providing empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, SOUNDBITEBLOG, and Crabbing in the Hood.