Real Estate Market Report/Conditions in Kitsap County WA for 08/02/2007
The following is a quick analysis of the combined single-family home and condo market within Kitsap County, Washington, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (excludes Bainbridge Island).
Current Market Conditions: Well, as you can see from the monthly stats update, inventory continues to increase. Fortunately, so have home sales. The pendulum has clearly swung over towards the Buyers favor in most areas of Kitsap County WA. Personally, as a professional licensed agent, this is a market dynamic I much more prefer. My Buyer clients have more time to shop and make prudent/wise home purchasing decisions. As a Seller's agent, it requires greater effort and creative marketing ability to successfully achieve a timely sale. Many newer agents who jumped on the 'Hot Market' bandwagon are going back to their former jobs. A slower market definitely separates the career agents from the 'wannabes.'
Last month, I offered some practical advice to prospective Sellers. Here it is again:
One of the best values on the market right now is my listing on Franklin Street in East Bremerton. Give me a call to schedule a private showing @ 360.440.4758. I have another home coming up on the market next week. It's a great newer home (2005) off Bielmeier Road in Port Orchard. The 4BR (3BR septic) 2586 sq.ft. home is situated on a 1/2 acre lot on a small private cul-de-sac with 5 other custom homes. Call for more details!
For additional information and resources concerning real estate and living in Kitsap County, Washington, access my comprehensive website, www.KitsapLife.com, or my local blogsite, www.SoundBiteBlog.com.
another quality consumer article by Sparky
Community Builder, Social Media Guru, Moving Target, Mediator, Referee, and all-around Nice Guy for the ActiveRain Real Estate Network.
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I am amazed at how strong our market continues to be relative to the rest of the country. The trick is to convince would-be sellers to give market forces a chance. I have another would-be buyer/seller who is getting cold feet even with the stats showing continued growth.
Rich,
This is a truly terrific market report. You have a real knack for this thing! Your clients and customers are very lucky to have you! Hey, who did your logo? It's neat!
Irene - you're right. Even though things have obviously slowed, we still have lots of activity. It's rather difficult counseling clients right now. People are feeling hesitant and unsure. Hence the true value of our market knowledge and experience. Thanks for stopping by!
Lisa & Bob - I learn as I go along. I continue to tweak each time. I have to admit these market reports are some of my most fun posts that I do. Mark was behind the logo. Pretty cool, huh? He's a genius! But don't tell him that!
Rich, I like reading your market reports! It's also good to read good news about what is happening in your area of the country.
Lola - I think that should be the goal of our Market Reports, making them fun and enjoyable to read, rather than just spouting off data. Thanks for droppin' by. Hope all is well with your soul!~
Thanks for pointing this out to me Rich. I clearly need to work on mine :D
I like this format too. I saw a graphic header the other day that someone uses for market updates that looks interesting. We've also bookmarked this because your tags and the footer format and information has thought behind it that I want to think about... before we parrot.
Good stuff and thanks as usual.
I like how you do these market reports..... Remember mimic is the biggest form of flattery.... I think if ya don't mind I might follow your "basic" format..... hope thats okay
Desiree - such is the value of this network - sharing with each other freely!...Go for it!
I also like the format Rich. I tried using Excel and it just doesn't translate well.
Good Job Rich, I'm going to copy you again...
Don't worry, I'm only getting a few ideas from you for Marty's Monday Morning Market Memo.
Marty - No problemo. I would consider it an honor!
We just mentioned you in a post. Linked back to you too. Hope you don't mind. It talks about some of your helpful guidance. Thanks again for it.
Hey, Rich!!
Looks good!! We are still strong over here as well...homes are moooving.
Jeff - I really appreciate you stopping by my blog here on ActiveRain and for your comments. I wish you well in your home sale process. It's a difficult market right now for Sellers. There is so much inventory out there. You need to price it very aggressively, market it creatively and consistently, and do everything you can to make it show really well. Fortunately, our market here isn't subject to the seasonal shifts that most markets experience. It will slow slightly as we draw closer to the start of school, but then things historically continue sell well into the Fall months. What is going to impact the market most significantly over the next few months is Sellers obtaining financing. With sub-prime and Alt-A loan programs disappearing, it will become increasingly more difficult for some Buyers to qualify. Feel free to check out my other blog at www.SoundBiteBlog.com
Great information, thanks Rich!!