Diane Kawell

According to my search in the MLS database,for February 2009, 40 of the 50 new sales contracts accepted on homes in Federal Way happened in the last 2 weeks - hopefully this is not just a flash in the pan, but we'll take every bright spot we can find in this real estate market!

Current Inventory of Homes for Sale total 349 and are priced from a low of $85,405 to a high of $1,340,000 - and a median price of $299,950.

Sales Pending currently total 103, from a low of $75,000 to a high of $685,000 and the median price of $259,000. These homes averaged 73 days on the market before a sale.

February Closed Sales totaled 23, low $152,400 to high of $621,000, and median at $270,000. The total closed is virtually unchanged from January (21) So based on closed sales we are at a 15 month supply of homes.

Regarding foreclosure, short sales, bank owned and pre-foreclosure stats - 28% of actives, 31% of pendings and 35% of solds fall into these categories.

Hopefully the increased activity over the last 2 weeks will be gaining momentum with the buyer tax credit and other government actions taken recently, and being clarified. I'll keep you posted!

I took a day of R & R with my fit and fidgety husband yesterday. Since we often do our best bonding on walks and drives, we decided to spend some time outside visiting this great little park in the south end of Federal Way that everyone drives past, but seldom stops to discover! This park has been open only one year, and it's clean, has a bathroom facility and lots of charm and photo opportunities too.

In one hour we walked the 1 mile trail loop, plus approxamately 1 more mile on the side trails, viewed 2 hidden lakes, walked on both a nice gravel path and a long loop section of boardwalk with viewing decks, saw well marked ancient trees, and learned alot about the variety of birds, and general ecology in the area. It's mostly wooded, so you'll want to pick a sunny day to go, if possible. And it's fine for children because strollers will work, and there are nice benches to rest along the way.

When you first park the car, you'll see two old wooden buildings that have been preserved for their historical value - one is The Barker Cabin, Federal Way's oldest original homestead standing, and the other is the rugged one-time real estate office of Denny, one of the original founders of Seattle. Both buildings were moved from their original locations, to this park site in 1992 & 1993.

This is the West Hylebos Park located on the south side S 348th St between 9th Ave S and Pacific Hwy.

See Directions

"Baby It's Cold Outside" and it's not just the weather. Home sales for January, compared to the number of active listings is coming in at 20 months of inventory. For perspective, 6 months is a normal market, anything over is a buyer's market. 20 months means that if no more homes came on the market, we have enough homes for sale now to last over a year and a half!

Federal Way, in South King county, has 347 homes on the market, currently. The bulk of listings are in the $200,000-350,000 range. However 56% of the sales closed in January were over $350,000 - reflecting buyers' recognition of the excellent values in this category.

Brown's Point & Northeast Tacoma, in Pierce county, are niche areas adjoining Federal Way and the bulk of homes for sale ranges from $200,000 to $400,000. In January, closed sales were $240,000 - $285,000. Now with 55 months of inventory, which is abnormally high, this is an extreme buying opportunity!

For more information, photos, links, and to search properties in these areas, visit my local blog at http://www.DiKawellBlogsRealEstate.com

As I listen to a soft, calming, Mozart serenade and study the latest numbers on Federal Way real estate - I almost choke on my own gasping! In the last month (Oct 31 to Nov 30) there has been a 21% drop in the average sale price (from $365,000 down to $290,000) and a 52% drop in the actual number of homes sold. At this rate we have gone from an 8 month supply of homes on the market to 14.8 months. These numbers are for new and resale single family homes as a group. Pretty bad for sellers who need to sell -

But, if you are a buyer, with solid credit and job stability, This Is Your Golden Opportunity - no kidding. YOU HAVE THE BEST BUYING POWER IN YEARS, MAYBE A COUPLE DECADES EVEN. Remember rates last week? Dipped under 5%, and if you were one of the smart ones who were all ready to lock, good for you! Don't worry, though, rates are still at a 5 yr best, and when you add the negotiating power you now have, with the low interest rates and current home prices, plus the unprecidented tax credit if you are a first time buyer, you are among the luckiest people to purchase a home NOW! YOU are sitting in command position to control your financial future responsibly.

Here are 2 Trendgraphix charts for Federal Way, and I can get them for other communities if you need them. Just call, send an email or leave a comment on this post below.

When Considering Where to Live & What Things Will Add Long Term Value to Your Life and to Your Property, Consider Two of the Most Popular Reasons to Choose Federal Way:

1. Spectacular Views and Waterfront Settings!

We have an amazing variety of properties with Puget Sound, Vashon Island and Olympic Mountain views all in combination; properties with outstanding views of majestic Mt Rainier and the Cascade range; and several fresh water lakes with boating, fishing and swimming opportunities. Many of our homes are waterfront - either salt water (Puget Sound) or fresh water lakes. In the Redondo community there's a public boat launch for getting out onto the Sound, and there's also a half mile long pedestrian boardwalk to get out and enjoy fantastic salty air while taking in the scenery.

2. Culture & Higher Education

The Federal Way Symphony is World Class! We have Centerstage Theatre which brings live theatre to us throughout the year at the Knutzen Family Theatre. We have the Federal Way Chorale, which brings us some of the best voices in the region. We have 2 great libraries, a Highline Community College campus, and a University of Washington campus is just a stone's throw away in Tacoma.