
If you're familiar with driving through Olympia's South Capitol Neighborhood, you may have noticed the new neighborhood welcome sign.
The sign project, two years in the making, was finally concluded by the end of 2008. In December the neighborhood received the first of two welcome signs. Funded by a City of Olympia neighborhood grant, designed by yours truly, Sandy Nelson, manufactured by Esco Pacific Signs and installed by Mark Jobson and Bob Thomas. This sign is a monument to the South Capitol Neighborhood's special character and friendliness. The sign is located on the green space between Capitol Way and Washington St. We hope to have another sign greeting visitors travelling south through our neighborhood at Maple Park by the end of 2009.
Sandy Nelson
Olympia Realtor®, Associate Broker, GRI, ASP, Built Green
360-789-7505
www.SandyNelsonRealEstate.com

Olympia's South Capitol Neighborhood quickly became the most popular place to live when the Capitol was being built on the hill. The oldest home dates from 1878, but the majority of houses were built between 1900 and 1928. You can find almost every popular housing style of the early 20th century in this neighborhood.
With over 400 well preserved homes, varying in styles from the English cottage look, Spanish style, to Victorian and Craftsman. In 1991 the entire South Capitol Neighborhood was listed on the National Register of Historic places. Many of the homes in our neighborhood can be found on the Olympia Heritage Register.

The neighborhood's most prominent resident is most likely the current Governor of the state of Washington. Besides the Governor's Mansion, there are two other mansions in the neighborhood: The Mediterranean-style Lord House and the English Renaissance McCleary Mansion. Both were designed by the renowned architect Joseph Wohleb. Wohleb also designed the Mission Revival Lincoln School. The school offers a popular alternative elementary school program. Children from the neighborhood receive priority placement. Other openings are filled by a lottery system.

Contact me if you'd like more information about the South Capitol Neighborhood.
Sandy Nelson
Olympia Realtor®, Associate Broker, GRI, ASP, Built Green
360-789-7505
www.SandyNelsonRealEstate.com

In 2008, the new "First Time Home Buyer Tax Credit" law offered a $7,500 tax credit which would have to be repaid over time. It essentially amounts to a 15 year interest free government loan. With the new stimulus package in the works, that credit would no longer have to be repaid for homes bought from January 2009 through June 30, 2009.
The results may still change as Congress works out the details of the final stimulus plan. Until then, the old facts stand, and it's important to consider that a buyer who has not owned a principal residence during the three-year period prior to the purchase is a first time home buyer.
Keep in mind that tax credit is not the same as a tax deduction. The difference is that with a tax credit you get a dollar-for-dollar reduction in what you owe in taxes. That means if you owe $7,500 in income taxes and receives the $7,500 tax credit, you would owe nothing to the IRS. No special forms are required to claim the tax credit. You simply claim the credit on your federal income tax return.
The credit applies for homes purchased after April 8, 2008 and before July 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
Sandy Nelson
Olympia Realtor®, Associate Broker, GRI, ASP, Built Green
360-789-7505
www.SandyNelsonRealEstate.com
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All the real estate information on the Internet can not compare to the real time, on-the-ground expertise of a local, skilled Realtor ®. Among all the South Sound real estate resources available, the most powerful tool is my phone number.
Planning a home purchase or the sale of your home will be much more enjoyable when you work with a friendly and knowledgeable professional. I'm dedicated to helping you make informed decisions and providing you with exceptional skill and service.

The real estate sales data for the last month of 2008 has recently been released, completing yet another year for the market statistics. While the median home prices for the entire NW MLS average an 11% drop, Thurston County only shows a small drop from the year before.

Is this dip just a healthy correction, or is it the beginning of a new downward trend?
I don't think anyone can tell for sure.
Will 2009 see an improvement in our local housing market? I don't think anyone can make predictions. Remember the big predictions of 2008 that prophesied Hillary as President and swore that we would never again see gas prices below $4.00?
Surprising things can happen. I, for one, am surprised to see interest rates below 5%. I didn't think that was possible, but here we are.
I won't make predictions, but I can report what the local market conditions look like, and currently interest rates are at record lows, available housing inventory is high and prices are down.
Sandy Nelson
Olympia Realtor®, GRI, ASP, Built Green
360-789-7505
www.SandyNelsonRealEstate.com
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All the real estate information on the Internet can not compare to the real time, on-the-ground expertise of a local, skilled Realtor ®. Among all the South Sound real estate resources available, the most powerful tool is my phone number.

Bennett Homes has just drastically reduced home prices on their standing homes inventory at Lacy's Campus Highlands golf course community. Average home prices in Thurston County have dropped close to 5% in 2008 for the first time in over a decade. Most home buyers expect to see price reductions on a similar scale reflected in current home pricing. Some of the price drops Bennett Homes has just implemented are 10% below last year's level. With some price reductions in the value of $50,000, that's a great way to start the new year. On top of the lower prices, Bennett is also offering an incredible financing incentive of 3.875% interest on a 30 year fixed mortgage. This is a limited program through their preferred lender.
See details and disclaimers here: http://www.bennetthomes.com/PDF/promotions/LowRates.pdf
Home prices start at $399,800 for a 3000+ sq.ft. 4BR/2.5BA home. The amenities include a 3 car garage, granite tile counters, hardwood flooring, stainless steel appliances, double ovens, two fireplaces, fenced yard, large loft, upstairs laundry, plus a den.
All homes are Built Green and are conveniently located to I-5 and all the shopping, community and recreational amenities.
View all the available Bennett Homes here:
http://www.bennetthomes.com/Home_Search/community.aspx?comm=23
To see these exquisite homes in person, contact me for a private showing.
Sandy Nelson
Olympia Realtor®, GRI, ASP, Built Green
360-789-7505
www.SandyNelsonRealEstate.com
All the real estate information on the Internet can not compare to the real time, on-the-ground expertise of a local, skilled Realtor ®. Among all the South Sound real estate resources available, the most powerful tool is my phone number.
Planning a home purchase or the sale of your home will be much more enjoyable when you work with a friendly and knowledgeable professional. I'm dedicated to helping you make informed decisions and providing you with exceptional skill and service.
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