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Port Angeles, WA

Upper End Homes Are The Slow Movers

04-28-08
Doc Reiss
Doc Reiss: Real Estate Agent in Port Angeles, WA

As of the end of March, inventory of homes in the Port Angeles area had risen in the last month with the strongest increase being in homes priced above $300,000.

There were 281 homes available as of April 1st with 53 priced under $200,000. Thirty-nine were available between $200,000 - $249,999 and 56 were priced at $250,000 - $299,999.

Overall inventory over the previous month was up by 30 homes with 21 of them priced in the mid to upper range. Homes priced from $300,000 - $349,999 saw an increase of seven for a total of 45. Those running from $350,000 - $399,999 added three. There are now 22 available.

In the $400,000 - $499,999 range, three more homes came on, giving buyers 18 to choose from. Three were also added in the $500,000 - $599,999 segment raising the available homes to thirteen. Those priced above $600,000 saw an increase of four for a total of 21. (The two top-priced home in the market are 3.5 and 4 million).

At current levels, we have about ten-and-a-half months of inventory available. The fastest moving segments are priced at $250,000 and below with about five-and-a-half months of inventory. We have a ten-and-a-half month supply of homes priced from $250,000 - $299,999 and almost three years for those priced from $300,000 - $349,999.

There is a thirteen month supply of homes ranging from $350,000 - $399,999; a fifteen-and-a-half month inventory of those from $400,000 - $499,999 and close to a nineteen-and-a-half month stock of those from $500,000 - $599,999. Homes valued above $600,000 have a three-and-a-half year supply.

Seventy-three homes have sold so far this year with the average sales price within four percent of the asking price. Average time on the market was four months.

February market Report

04-28-08
Doc Reiss
Doc Reiss: Real Estate Agent in Port Angeles, WA

Homes come on and off the inventory every day. Last week 22 new listings came on and 27 expired or were taken off the market. As of March third, 254 are currently on the market. Last month there were 264. Rather than more, there are different homes to see.

In the most affordable range (under $200,000) there are 48. Ten came off, six went on. Priced from $200,000 - $249,999 there are 38, with three leaving and seven added. The next segment ($250,000 - $299,999) had four go off market and four come on for a total of 53 available. Looking at the $300,000 - $349,999 priced homes we have 38 available with two taken off and one added.

In the top half of the market segments, inventory is down strongly from last year and movement is much less dynamic. For homes priced from $350,000 - $399,999 - there are nineteen on the market. Last year at this time there were 41. Three went off market and one came on last week. $400,000 - $499,999 homes lost one in inventory last week. None came on. Last year there were 22. Last month there were 27 and now we have 15 to choose from.

At the beginning of March in 2007 there were 21 homes offered between $500,000 - $599,999. Our current inventory is 10. Last week two went away and two more came on.

The top segment of $600,000+ has remained virtually unchanged in number; eighteen last year, eighteen last month, seventeen now. Last week two left and one came aboard.

Sales activity is down from last year. By this time last year 54 homes had sold. This year it's 42. Over the last six months, home sales are off by 24 when compared to the same time period in ‘07 with 168 versus 192 respectively.

Homes under $200,000 are still in stronger supply than last year and with a good stock of them to choose from, home buyers are making that the fastest inventory turnover year-to-date with an average days on market of 77. Conversely, homes in the $500,000 - $599,999 range are taking about 50 weeks. Year-to-date, the days-on-market average is almost four months.

Land Sales in Sequim and Port Angeles 2007

Chuck Marunde, J.D. Sequim and Port Angeles Real Estate: Real Estate Agent in Port Angeles, WA
Land sales in Sequim and Port Angeles for the calendar years 2006 and 2007 are represented in this graphic. The chart is fairly self explanatory. I've compared calendar year 2006 with 2007 in both Sequim and Port Angeles for the various lot sizes that have sold.


The two noticeable decreases from 2006 to 2007 would be Sequim land sales for lots above 6 acres, which shows a drop of 23 lots sold in 2006 to 9 lots sold in 2007, and lots under 1 acre in size in Port Angeles, which shows 86 sales in 2006 and only 30 in 2007. Very interesting.

Source of Data: Local MLS Olympic Listing Service

New Port Angeles & Sequim Broker

Chuck Marunde, J.D. Sequim and Port Angeles Real Estate: Real Estate Agent in Port Angeles, WA
News Release! New Real Estate Brokerage Hits Town!

There's a new Sequim Real Estate Broker and Port Angeles Real Estate Broker in town. In both towns! It is an established name in Sequim and Port Angeles. The owner and broker is Chuck Marunde. Many know Chuck as a Real Estate Attorney, some know him as a Realtor, and others know him as the father of famous athletes.

Sequim_real_estate_for_saleBlog Manager: Chuck, in this interview I want to take a more personal approach to an interview such as this. I'll ask about the new brokerage and your experience, because that will be important to people, but I think people also want to know who you are. Chuck, give us a brief vignette of who Chuck Marunde is, your business and real estate background generally, your connection here and your family.

Chuck: I'd be glad to. I started in real estate sales in Alaska in the 1970's, and went to law school at Gonzaga University in Spokane. I practiced real estate law for 20 years with a 4-year stint in the Air Force as a JAG. In 1994 I moved my family back to Washington and to Sequim where I continued my real estate law practice and raised my four children. If I may plug my children, I have the cutest little girl in the world, and my boys are amazing, too. Brady is 6'4" and a great basketball player. Bristol is a professional mixed martial artist, and while he is a humble and gentle person outside the ring, he is very dangerous in the ring or the cage. My oldest son, Jesse Marunde, became one of the strongest men in the world as a professional strongman. He placed 2nd in the World Strongman Contest in Chengdu, China three years ago. Jesse died in Sequim at his gym last August from a heart attack. It was a terrible shock, but I can say I am very proud of him.

Blog Manager
: Many people in Sequim and Port Angeles knew Jesse. He had an incredible impact on a lot of people. For being only 27 years old, he left a huge legacy.

Chuck: He did.

Blog Manager: With all those athletes in the family, what do you do for exercise?

Chuck
: I love to run, workout in the gym, watch my sons compete, and ski with my daughter. Of course, I'm always taking photos of my kids.
sequim_homes_for_sale
Blog Manager: Many people know you, but not everyone knows the extent of your experience in real estate. If you were forced to describe your real estate experience in one sentence, what would you say?

Chuck: I'm not big on talking about myself, because my new brokerage, Sequim & Port Angeles Real Estate, will be all about the client, not me. I really mean that. But people are entitled to know who I am if I am going to represent them in selling their real estate or representing them as a buyer's agent. I only get once sentence?

Blog Manager: Right. But you've already used four. Do you want to try again?

Chuck: [Affirmative nod] My sales experience in real estate goes back 30 years, but my 20 years in real estate law gave me a great foundation in dealing with critical details and problem solving and for building a client oriented business, and along the way I have headed up an escrow company, closed 100's of real estate transactions myself, put together loan packages before they had software that typed everything, negotiated 100's of transactions, drafted 1,000's of real estate documents, litigated 100's of real estate issues, resolved many real estate conflicts successfully, have been an adviser to many real estate brokers around the state, including many agents right here in Sequim and Port Angeles, have handled many commercial transactions, have been an adviser to real estate investors and millionaires, have done many foreclosures and forfeitures, short sales, and creatively structured transactions, am licensed with the State as a real estate educator, and I'm a published author on real estate topics, for example, I write for the Pacific Northwest Home Owner Magazine, I sit on the Seattle PI panel of real estate experts, I'm on several other national real estate panels as an expert author, and I'm an Internet marketing consultant for people in the real estate industry.

Blog Manager
: That's a long sentence Chuck, but full of good information for our readers. Tell us something about your new company.

Chuck: Sure. I wanted to build a company where the true center of focus is the client, where the level of professional knowledge and attention to detail is unsurpassed, where customer relationship management is actually practiced. In other words, I wanted clients to get the highest and best counsel in their real estate transactions, and that means getting the best price within a reasonable period of time, and with so much attention paid to the clients that when the transaction has closed, the clients will not only be clients but friends who are delighted with our service. I could describe in detail how this all works, but I think the best way for people to find out is to work with us. That's the ultimate test and the ultimate proof that our business model is truly different than any other Broker's. That's what Sequim & Port Angeles Real Estate is all about, and this is what clients expect and deserve.

Blog Manager: Chuck, you told me earlier that you felt your experience would be beneficial to clients. Do buyers and sellers really want a Realtor who has a lot of experience, and do clients appreciate your real estate law experience?

Chuck
: No question about it. Clients want two things, at least. They want a Realtor who is competent and trustworthy. I could talk for an hour about what that means, but long story short, it means that people want someone who really is knowledgeable and understands the real estate business. After all, their Realtor is handling what may be their most expensive investment, their home. They want someone who understands the current market, and who understands pricing, marketing and advertising, the Internet, negotiating, contracts, and who can protect them throughout the entire process all the way to closing and beyond. People don't just want a slick salesman who talks but does not walk the talk. I think the public is getting sequim_lots_for_salevery smart about this. They are discerning more and more who has experience and who does not. I think more people are not just hiring the first Realtor they talk to, but the first Realtor who can answer their questions with depth.

Blog Manager: Chuck, you did not join a major real estate franchise. Do you think people look for the big names?

Chuck: I'll tell you what clients have been telling me for nearly 30 years. They want someone who will help them find what they are looking for. They could care less about the name of a company or the size of the building. They don't sit in California or Arizona, or even in Seattle, and say, "Honey, let's call a big name franchise in Sequim or Port Angeles, and see if they can help us find our dream home at a rock bottom price." About 75% of buyers start their search for their next home on the Internet, and they're not using real estate portals or franchise websites. Like all of us, they are searching with Google or Yahoo. Again, it's not about me, it's not about the company, but it is all about the client and what the client is looking for. I have a completely different business model than 99% of the crowded brokerage business. For me, it really is all about the client, not me.

Blog Manager: Chuck, since you talk about serving your clients more than anything else, can I assume that you have free resources that people can check out?

Chuck: Absolutely. I offer an incredible amount of information absolutely free. People might be surprised. They can start with
SequimPortAngeles.com, and they can go to
SequimRealEstateBlog.com or
PortAngelesRealEstateBlog.com, and they can also find real estate law help at FreeRealEstateLaw.com, and there are more resources, but that's enough for now.

Blog Manager: Well, there you have it folks. Check out those websites, and thank you Chuck for sitting under the bright lights for us.

Chuck: My pleasure.

To Contact Chuck Marunde:
Email: chuckmarunde@gmail.com, or
Call his direct line: 360-775-5424

Lower-Priced Inventory Up 57% Over 2007

02-07-08
Doc Reiss
Doc Reiss: Real Estate Agent in Port Angeles, WA

Last year at the end of January there were 259 homes on the market in Port Angeles. This year there were 264.

The inventory of homes priced at $199,999 or under number 57, versus last year's supply of 34, an increase of 57%. There are 42 homes priced between $200,000 - $249,999. Last year there were 37. The number of homes priced from $250,000 to $299,999 is at 49. Last year there were 46.

Shifting to homes ranging from $300,000 - $349,999, the numbers are almost identical with 34 on the market now, versus 35 in 2007. The number in the range from $350,000 - $399,999 is down from 43 last year to 23 now and homes priced from $400,000 - $499,999 show 26 to choose from. Last year there were 21. While the number of homes priced from $500,000 - $599,999 has shrunk from 20 in 2007 to eleven this year, the number of $600,000+ homes has grown by three from the level of 16 to 19 currently available. With the start of the new year, inventory has grown. In January, 19 homes sold and 32 new listings came on the market.

The market is close to balanced with more to the buyer's side as we have almost eight months of inventory at this time. The average home is selling in a little less than three-and-a-half months.

Homes priced from $500,000 - $599,999 lead the pack with a 19 month inventory at the current absorption rate.

There's a 17 month inventory of those priced from $400,000 - $499,999, a 16 month inventory of $350,000 - $399,999 homes and a 12 month supply of the ones priced over $600,000. There's a ten month supply of homes from $300,000 - $349,999 and seven month's worth of those priced from $250,000 - $299,999. Homes priced under $200,000 have about a six month supply and the fastest movers are from $200,000 - $249,999 with about five month's of inventory.

If you are looking for a home or an investment, now is a good time to shop.