Marlene Scheffer, Realtor to Kitsap County, WA

"I want to buy a house when the prices are at their lowest."

"How long before the market turns around again?"

"I'll wait a while longer til prices drop a bit more."

"Buy low, sell high" doesn't apply only to the stock market - it applies to real estate as well. However, the problem that plagues stock investors also plagues the real estate investor -- how do we know we have hit bottom?

As real estate agents, we listen to the financial experts, monitor the economy and the real estate market in general, watch the national trends, track home prices and foreclosure rates, and analyze the historical data. But for all that research, and after two decades in the real estate business, I can only offer an educated guess as to when prices will be at their lowest.

The inherent problem in "waiting for the bottom" is that no one knows it is "the bottom" until months later -- and then it is too late. Prices have started to rise, interest rates are fluctuating, and who knows what the economic forecast will be? Bearish? Bullish?

In real estate in Kitsap County, we are experiencing a Buyer's Market. There are too many homes on the market (supply) and not enough serious buyers (demand). When supply exceeds demand, prices fall and competition between sellers flourishes.

If you are considering purchasing a home in the near future, whether to live in or for investment purposes, don't wait! Take advantage of the foreclosures, pre-foreclosures and short sales happening around us. You can find the right home at a good price for yourself and your family.

A post by Pacita Dimacali entitled "Bottom-Feeders?" is actually a post about whether short sales or bank foreclosures are better options for investments. One of her commenters is quite opinionated on the subject of "Bottom-feeders", however. This commenter vehemently pushes the idea that agents who represent investors who look for short sale opportunities are flawed individuals with no principles or ethics. As a matter of fact, she outright calls these people "bottom-feeders".

Really? Are we? I am working with a very serious investor now who is looking for short-sale and foreclosure opportunities in Kitsap County real estate. And I love working with this gentleman! I enjoy a challenge, and finding just the right property can be just that -- a challenge. But I am good at it -- we have a property under contract right now.

Does that make me as his buyer's agent a "bottom-feeder"? Is he as the investor a "bottom-feeder"?

When a seller is in a short-sale situation, it is sad. There is no question about that. There are personal and financial tragedies taking place across the country because of the loss in value many homes have experienced lately.

So we make low offers on short-sale properties and the sellers have to deal with that. But let's look at the alternative, shall we?

The home sits on the market for two months with no offers. The sellers lower the price even more, dramatically less than they paid for it three years ago when the market was booming in Kitsap County. He has lost his job and she is sick and needs medical care -- they must sell. No offers after four months. They have received a Notice of Trustee's Sale -- their home is being foreclosed on. By month six, the house is no longer theirs. It is now a bank-owned property after being auctioned on the couthouse steps.

Now, would they have been better off if they had gotten a low offer and done the short sale?

I would argue that investors may actually be helping a seller out of a bad situation. It is not a perfect solution, but it may be the only solution these sellers can get. All you need to do is look at the higher number of foreclosures many areas are experiencing, and you see the proof.

As the investor's buyer's agent, I can make sure that the investor is properly following federal, state and Kitsap County laws and customs of real estate, and help the transaction run more smoothly. Having a real estate agent involved in a short sale in more likely to result in a closed sale than if the buyer and seller were doing it on their own. So perhaps I too am helping the seller out of what could be a much worse situation. Think about it...

If you'd like more information on investing in real estate in Kitsap County, or would like lists of short sale and foreclosure properties in Kitsap County, please call me at 360-689-6836, or email Marlene@RealtyStationInc.com

The neighborhood of Manette is located on the east side of Bremerton on the hill of Point Herron. Many of the Manette homes have a fantastic view of the water as well as the mountains. Residents can often see the ferry coming in from Seattle as the sun sets over the Olympic Mountains. Manette real estate has not seen as broad of a price adjustment as other areas of Kitsap County.

Manette was founded as a city in 1891, but was annexed by the city of Bremerton just a few decades later. It is now a unique and very desireable Bremerton community.

Manette is connected to West Bremerton, the ferry terminal, Naval Base Kitsap and the shipyard by the Manette Bridge. For more information on the Manette Bridge, see my article "Old-Fashioned Bridge in Manette".

Manette is different from many other neighborhoods in Bremerton due to the atmosphere of the downtown area and the attitude of its residents. People are proud to be in Manette. They are proud of the history of the area, and they support neighborhood businesses.

I lived in Manette for many years before getting married and moving to Ridgetop. During my time there, I never felt uncomfortable or unwelcome. Walking down the street always took longer than it should have because so many people stopped to say hello. A neighbor brought my trash cans in from the curb when I was sick. Manette is just, well, home-y.

Many of the homes in Manette were built in the 1930's and 40's, and many of the new homes currently being built have the look and charm that was evident in the homes of that era. Most yards are pristine, with green grass and flowers all spring and summer. At the holidays, many of those same homes have beautiful light displays decorating the eaves, roofs and yards.

Manette is home to many churches, including the Manette Community Church, St. Paul's Episcopal Church and West Sound Unity Church. The Bremerton Senior Center, located in Manette at 1140 Nipsic, provides opportunities for seniors to get out and share enriching education sessions or exercise classes, among many other things. The Senior Center also allows non-profit groups to utilize their facility as space is available. Bremerton Girl Scouts used the space many times.

Manette is also home to the Bremerton Community Theatre, located just under the Wheaton Way Bridge at 599 Lebo Boulevard. The theater is a fun local theater group offering plays and musicals throughout the season. Bremerton Community Theatre also sponsors BCT JR, whose volunteers teach young children with stars in their eyes everything they need to know to be a success on stage.

The Sheridan Park Community Center offers programs for both children and adults. It is located at 680 Lebo Boulevard. My son has attended soccer lessons there, at the age of three, and will start t-ball next month, at age 4. They also provide an indoor playground during cooler months two days a week for children under 6, which the Kitsap Moms Meetup group frequently attends.

Manette has everything you need in a neighborhood either in the area or a very short drive away. Realty Station's office has been in Manette for more than 10 years, the oldest existing Manette real estate company. If you are looking for a home in Manette, call Realty Station at 360-377-5699, or visit our website.

The Manette Bridge played a significant role in the building and expansion of Bremerton. Built during the Great Depression, the Manette Bridge is the oldest of two bridges that connect East Bremerton to West Bremerton.

In this photo, Manette is to the right, West Bremerton on the left side. The Port Washington Narrows goes north toward Silverdale. The Olympic Mountains are in the distance. (Much appreciation to Capt. Alan R. Beam, USN, ret., for the photo. Thanks, Dad!)

Prior to the building of the bridge, Mosquito Fleet ferries made the crossing each day to allow families from East Bremerton to go to their jobs in West Bremerton. If a laborer missed the last ferry, he would have to make an extremely long commute around the north end of the inlet, through Chico, Silverdale, and Tracyton.

Construction on the bridge began in October 1929, and continued until opening day in June of 1930. The bridge was originally a toll bridge, charging $.25 per car and $.05 a passenger. The toll continued until 1939.

Shortly after the toll was lifted, it became clear that the little two-lane bridge would not support the growing traffic burden, and talk of a second bridge began. This resulted in the building of the Port Washington Narrows Bridge, commonly known as the Wheaton Way Bridge, in 1958 as a toll bridge.

At that time, the toll was placed back on the Manete Bridge. Why pay the toll on the Wheaton Way Bridge if you could cross the Manette Bridge for free? The tolls were lifted in 1972 when both bridges were paid for.

Today, residents of the charming neighborhood of Manette use the bridge to cross to West Bremerton, Naval Base Kitsap - Bremerton, and the Washington State Ferry Terminal to commute to Seattle. Unfortunately, the charming Manette Bridge is currently considered unsafe. The bridge is scheduled for demolition when a new bridge is constructed, beginning in 2010.

For more information on the neighborhood of Manette, including a list of homes for sale in Manette, Bremerton, stop by Realty Station. Or visit our website for more on Bremerton and Kitsap County real estate.

Selling a historic home often involves more emotion than logic, both for the seller and the buyer. In order to get the highest sale price possible for your historic home, we may need to go the extra mile.

Do some research into the history of the home, going back to the original owners of the home. Bill Cherry recently suggested naming the house after the first owner. Put everything together in a professionally written package for potential buyers. Of course, as your real estate agent, I am happy to assist you with this project.

Resources for researching your home include these:

1. Get a copy of your home's title report. If your home is too old, the original owners will probably not be listed, but it is a starting point.

2. Visit the County or City Register of Deeds. This is a list of transactions that involved your home.

3. Go to your friendly tax assessor and ask for the tax roll on your home. This is a list of everyone who owned your home and what the assessed value was at the time, as well as the property tax on the home.

4. For additional resources, you might visit your local library or the historic society near your home. If you are lucky, they may have photos of your home.

5. Once you have the original owner's name, be sure to consult historic guides for the area. You might get lucky!

Now, time for some marketing! I would like to suggest using new marketing methods to sell an antique property. We put up a single-property website with those research results on it, as well as outstanding current photos of the home, any old photos of the home and any photos you found of the previous owners.

We submit the property to all the listing websites we can, including Trulia, Zillow, Realtor.com, and many others. I have recently added two new sites to my list.

The first is www.HistoricProperties.com. Run by two women from their computers, these women only allow homes at least 50 years old to be featured on their website, This site is very classy, professionally presented, and seems to get more publicity as well as more google juice than other sites. You pay just $50 to have your home or listing on their site, and they do get quite a bit of traffic.

The other website is www.oldhouses.com. It's the same basic premise as the first website -- even the pricing is the same. This site consistently showed up on the google search pages right behind the first website.

For specific information on selling your historic home in Bremerton or Kitsap County, call me at 360-689-6836, or email me at Marlene@RealtyStationInc.com.