By Greg Perry, Kirkland Realtor
Just as Eastside median prices experienced a bubble, the Eastside real estate agent count experienced one, as well.
The following chart represents September numbers in the year indicated:
Eastside Real Estate Agents
In 1998, the NWMLS had 2,276 real estate agents in the Eastside areas 500-600. Agent counts modestly rose until 2002 where they started expanding in excess of 10% per year until the peak in 2007 with 5,485. Agent counts immediately started withdrawing at the rate of approximately 10% per year for 2008 and 2009. 2009 started the year with 4,605 Eastside agents in January. At September's end there were 4,498 agents representing a 9% decline year to date.
For combined residential and condo PENDING sales, the Eastside had 686 Pending sales in 2008 and 908 Pending sales in 2009 for a 32% increase, while Active listings fell 14% (5531 in 2008 vs. 4780 in 2009). Months of supply in 2008 was 11.2. In 2009, months of supply improved to 5.3%.
To understand NWMLS areas, see map:
By Greg Perry, Kirkland Realtor
Location, location, location has been the 3 word battle cry for real estate for decades. But, is it true? Does location really make a difference in real estate activity and investment? Judge for yourself.
Here is a chart for weekly absorption rates in the different NWMLS areas. You will see just how strong or how weak your favorite area is. Be sure to look on the column on the extreme right for the 7 week average.
Please contact me if you would like a further breakdown by Price Range of your favorite area. I will be happy to send it to you!
To see where the NWMLS areas are, see this map:
Greg Perry, Kirkland Realtor
Here is an awesome visual perspective on regional residential inventory absorption.
Here is a close-up of September 2009:
By Greg Perry, Kirkland Realtor
A Principle Centered Business has a very basic idea behind it. This idea goes like this, "always do the right thing". Five simple words. "Always Do The Right Thing". So much corruption has been exposed lately. Corporate corruption. Government corruption. Corruption in the non profits. It's easy for people to become jaded and cynical. It takes work to be a Principle Centered Business. First of all, Principles need to be established. An iron clad set of core values. Righteous values that become ingrained into the owner, management and every employee. Then comes the hard part. "Always do the right thing." This means doing the right thing when nobody is looking. Employees of Principle Centered Businesses always do the right thing whether there is somebody out there to notice -- or they are all by themselves. There are great Principled Centered Business all around us in every industry. They're actually quite easy to find. As consumer, we just need to remember to look and ask for them.
Greg Perry, We are definately heading in a downward direction on the interest rate front. We're seeing 30 year fixed rate loans at 4.75% and under. We're also seeing great ARM rates with 5/1's in the mid 3% range. As soon as the Fed stops buying back mortgage backed securities these rates will start to immediately rise. Some economists see interest rates above 7% in 2010. We have 2 months remaining before the First Time Home Buyer tax credit program ends. Buyers will need have good contract locked up by the 3rd week of October with ensure closing in time to receive the credit of $8,000. Sales activity continues to be brisk. King County Pendings came in at 571 for the week. The Eastside areas had very stong showings with 171 Pending sales. Here is a history of King County and Eastside Weekly Pending sales: To see the NWMLS areas:
Kirkland Realtor
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The Working-for-you real estate team, working by referral specializing in the Seattle area's Eastside communities. Visit www.425realty.com, The voice of Seattle's Eastside!
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