What is Earnest Money? How does it work here in King County?

I’ve always loved the Lakeland Hills area of Auburn, which technically straddles the King County / Pierce County borders and includes both Auburn and Sumner addresses. Perched above the Auburn valley, there are some staggering views of the valley, southeast of Mt. Rainier, and east to the Cascade foothills.

Much of Lakeland Hills is new(er) construction in a planned community with a variety of housing choices and prices, shopping, parks and entertainment. Here you’ll find apartments, condominiums (both attached and detached), along with single family homes.

A large portion of the newest homes, perhaps those built from about 2007 and later, sit on typical new construction smaller lots--under about 6,500 square feet. Older neighborhoods with homes built in the ‘70’s or so may have yards that are a bit larger.

Because so much of Lakeland Hills is new, prices and sales have been impacted by the real estate downturn with new construction continuing to play a huge role in home sales in the area.

Prices in Lakeland Hills spiraled during the 2005-2007, falling significantly in mid-2008:

New construction played an important part of closed sales in 2011 in Lakeland Hills and continues to grow in much of the area, possibly a nod to the presumed (and actual) difficulty in closing short sales and bank-owned properties:

Here’s another look at the same information, sorted by type of sale rather than year:

Considering a move to the area, love new construction, or thinking of selling your Lakeland Hills home? I specialize in the Auburn area -- please don’t hesitate to give me a call, just to talk through some of the possibilities. I’m always delighted to be of service!

Auburn WA Real Estate | December Homes Sold 2011

During the month of December Auburn had 90 homes sell. This includes detached homes, town-homes and manufactured homes on owned land. Below you will see a map with some Auburn, WA sold homes.

These Auburn WA homes actually had a transfer of home ownership. Contracts complete and Lender funds available. The home buyer and seller signed all of their documents and escrow prepared the closing packages. Once all the I’s were dotted and the T’s crossed there where deeds recorded at the King County courthouse that transferred the property into the new home owner’s name!

If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site. There you can find definitions and explanations of the home buying process for Auburn Washington.

Let’s look at those 90 Auburn homes -

Auburn WA December Homes Sold 2011

Total number of Homes Sold	90
Median Original List Price	$239,975
Median List Price	$205,000
Median Selling Price	$206,250
Cumulative days on Market	94
Days on Market	86

Dec-10 vs. Dec-11: The median sold price is up 3%

Dec-10 vs. Dec-11: The median price of for sale properties is down 0% and the median price of sold properties is up 3%

Dec-10 vs. Dec-11: The number of sold properties is up 32%

Dec-10 vs. Dec-11: The number of under contract properties is up 94%

Dec-10 vs. Dec-11: The number of new properties is down 20%

Dec-10 vs. Dec-11: The number of for sale properties is down 18%

Dec-10 vs. Dec-11: The number of expired properties is down 67%

Dec-10 vs. Dec-11: The average days on market is up 13%

Dec-10 vs. Dec-11: The average months supply of inventory is down -58.9%

Dec-10 vs. Dec-11: The number of for sale properties is down 18% and the number of sold properties is up 32%

Not a bad time to purchase a home in Auburn, Washington. Prices are down, interest rates are at an all time low you might want to look at what it means to you.

What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds. I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful.

If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis.

If you would like to purchase a home in the King County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

Below you will find all of the homes that have sold in Auburn for the year. If you would like to see just this months sales then send us an email and we will get the data to you. This search starts with the low to high price option.

Auburn, WA Homes For Sale

Below you will see all homes for sale in Auburn that are currently listed in the NWMLS with a real estate company. We update this information daily so you can find any new listed home for sale instantly.

Save your MLS Auburn home searches and your favorite houses with a FREE account. Also you may opt-in to receive email notification of new listings that meet your Auburn real estate search criteria. Contact us if we can help you buy or sell in Auburn or or any West or South Sound area.

Today I received my Housing Trends eNewsletter and found this blurb very interesting....

"Home Ownership matters…to people, to communities, and to America. Why? • For every two homes sold, one job is created in the U.S. • Each purchase generates as much as $60,000 in economic activity over time."

So off I go to read the Houselogic article for details.

Listed are several pluses of ownership that I have always agreed with.

1. Net worth
2. Community participation
3. Quality of Life

There is also the stat about job creation and economic stimulus for each home sold. I have thought for a few years now, since the housing bust that until we can fix the housing market we are in for a very slow recovery. There were times in my childhood that my family was homeless, so I guess that has also shaped my view on home ownership. Owning a home in one of my top priorities.