Sequim, WA

I finished raising my children in Sequim from 1994, and prior to that we lived in Las Vegas for five years, and prior to that seven years in Spokane, and prior to that 22 years in Alaska where I grew up. I hereby testify that the weather and climate in Sequim is precisely between the two extremes found in Nevada and Alaska.

I do not miss 70 degrees below (Farenheit) in Tok, Alaska, nor the ice fog that greatly reduces visibility on the streets of Fairbanks at 50 degrees below. We burned 10 cords of wood every winter, and guess who had the privilege of cutting and splitting the wood? I loved it.

Nor do I miss 115 degrees in the sunny climate of Vegas. I've been a jogger my whole life, and running daily in the desert heat at 90 to 110 degrees was . . . well, it was sweaty. But I loved it.

But there's nothing like the in-between. We have the Olympic Mountains, we have the rain forest, and we have sunshine down here near the water. Talking about water, we have more beautiful water front property here than any place I lived in Alaska or Nevada.

My son, Bristol, who is a professional mixed martial arts fighter, now lives and fights in Vegas. He called me today to tell me how nice and warm it was there, about 70 degrees. I talked to my folks who still live in Tok, Alaska, and it was 65 degrees below. That's a 135 degree difference on the same day.

What was it in Sequim? About 50 degrees, and this is winter. Home sweet home. You gotta love it in Sequim.

[Photo taken by Chuck Marunde at Four Mile Lake up the Taylor Highway just outside of Tok, Alaska. The only way to the Lake from the gravel road way off the beaten path known as the Alaska Highway was to pull our canoes over moss and muskeg for about two or three miles. We did that with four wheelers. We caught several trout and immediately went to shore and cooked them on a grate over an open fire with a little spice my sister had with her. Wow! Incredible! Anybody want to go fishing up north?]

I did an FHA appraisal inspection this morning, and the owner casually mentioned what she and her husband thought their house should be worth. Of course, I always make a note of what they say, just for my records, and then proceed to explain the current reality of the market.

Funny how while I'm explaining that the market has dropped off about 12% in 2008 vs 2007, I can see the glazed over look in their eyes, and the reaction on the owner's face... you know, the one that says 'Well, that may be what the numbers say and how the overall market's doing, but that doesn't apply to my house.'

Of course not, your house is the exception.

Your house is worth WAY more than everyone else's, even though you still have the original vinyl flooring and formica counters from 1987 in the bathrooms, and the indoor/outdoor carpet in the kitchen and dining room.

No, your house is totally different and better than all the others, so of course it's worth whatever you think it should be worth, because that's what you told the lender, and that's what you need to make your loan work, and besides, you know the market.

I just smile and think to myself wow... some people just don't get it.

Delusion... coming soon to a community near you.

So the results are in for 2008 real estate sales, based on data in OLS (Olympic Listing Service), Area 300 (All of Sequim address), and while they're not great, they're not so bad either...

Here are the highlights:

For 2008, this includes sales of site built homes, off-site built homes (manufactured homes on non-leased land) and condos:

Total number of sales: 349

Average price: $294,298

Median price: $272,500

Average DOM: 128

This is a 12% decline in Average price, and an 8% decline in Median price vs 2007, and a 22% decrease in the number of transactions.

I have an Excel spreadsheet with more detail if anyone would like to see it... just send me an email and I'll send it to you.

Marti

So the results are in for 2008 real estate sales, based on data in OLS (Olympic Listing Service), Area 300 (All of Sequim address), and while they're not great, they're not so bad either...

Here are the highlights:

For 2008, this includes sales of site built homes, off-site built homes (manufactured homes on non-leased land) and condos:

Total number of sales: 349

Average price: $294,298

Median price: $272,500

Average DOM: 128

This is a 12% decline in Average price, and an 8% decline in Median price vs 2007, and a 22% decrease in the number of transactions.

I have an Excel spreadsheet with more detail if anyone would like to see it... just send me an email and I'll send it to you.

Marti

The real estate sales market may still be slow in Sequim, but I'm really busy with appraisals now, and with the exception of 1 sale I did a couple of weeks ago, the rest are for refi's.

I talked to one of the reps at RELS today, and she said they were really busy too, which is great news...

Let's hope the sales market picks up too.