Belfair Real Estate~March 2012 Update~ What’s Happening in the Local Real Estate Market?

Hood Canal & Belfair Area Homes for Sale and Sold

It has definitely been a busy start to the 2012 year in the Belfair real estate market.

Home sales are slow but steady!! I personally, have been very busy taking care of my clients real estate needs, wants and goals; I am looking forward to a busy and successful year!

A couple of things that I have seen and that I anticipate as the year progresses:

1) an increase in the length of time it takes to close a sale due to lender efficiency, or inefficiency depending on how you want to look at it;  This has actually been the case for the last year – closing dates stretching out longer.   Crossing the t’s and dotting the i’s as underwriters review files, seems to be where most of the slow down in closing is coming from.

It is definitely a patience game on all sides.

2)The other topic that seems to be playing in everyone’s mind right now is – will we be flooded with bank owned properties in the next few months?

It really is hard to say until it happens, but seeing that some of the lenders are offering a short sale option to owners before pushing the foreclosure process, we will more than likely see more short sales come on the market as lenders try to workout sales to get the homes off their books and keep the sellers and themselves from going through the foreclosure process.

Don’t get me wrong – I am fairly certain we will see an increase in bank owned properties on the market, but this will be a year of more short sale homes being marketed than in previous years.

I have first hand knowledge that SOME of the short sale lenders have streamlined their process somewhat. The paperwork and seller requirements have become  fairly consistant from one bank to the next and obtaining a contact for the transaction seems to be happening sooner.   It is still taking a good solid 2 months to get an approval, but that is a lot quicker than 6-8 of the typical short sale approvals of previous years.

Again – each short sale seems to go at its own pace, BUT there does seem to be some light of a little more efficiency on the short sale lenders part.  It is still a trying transaction for all parties, but can be a win-win for all as well.  If you have the patience, a short sale can offer a very good home at a very good price.

3) Interestingly enough, the waterfront market seems to be very active. Buyers who maybe could not get into the waterfront market 4 years ago, can now make their dreams come true of purchasing a Hood Canal waterfront home.  There are many, many great and affordable waterfront homes for sale, both lake and saltwater,  out there and with interest rates as low as they are, now is the time!

I personally have seen an increase in showings for my Mason Lake, Hood Canal, Tee Lake and other waterfront homes listings.

4) I have also seen this past week two situations, where my clients were in multiple offer situations.

Now that can be really frustrating! Especially when it is believed to be a “buyers” market with supposedly, tons of inventory and we have multiple offers?! How can that be?

Crazy! But in reality – The buyers have been buying. The “average traditional” buyer and “average” traditional home for sale, that is move in ready and in average condition,  –  well – some markets are seeing a shortage of these types of homes. Which brings me to the next statement……..

5) A home that is in move in condition, within the average median sales price for an average traditional, family home – is getting harder and harder to find.

Everything that is out there still on the market has already been “picked” through and tossed aside, except for those who want to take on a project and can afford or have the ability to do just that.

Wow!   It REALLY IS going to be an interesting and exciting year in the real estate world!

Want to know more?   Drop me a line, give me a call, or stop on in – I would love to chat with you about the local Hood Canal, Belfair, and surrounding area real estate market!

Hood Canal Waterfront Homes for Sale~What’s going on along the Hood Canal Waterfront?

So What is going on along the shores of the Hood Canal for waterfront home sales?

2011 proved to be a tough year in waterfront home sales along the Hood Canal. Inventory was fairly heavy. No one knew what the year had in store and it chugged along quite slowly but it did chug along. There were a total of 15 Hood Canal waterfront home sales along the South Shore and North Shore of Hood Canal between January of 2011 and the end of the year.

The average dollars per square foot reflected in these 15 sales was $288.76 with an average market time of 156 days. The average price was $406,480. Those stats are actually not too shabby considering the economy. Let’s look a little closer at the breakdown:

Prices of sold Hood Canal Waterfront Homes for 2011:

•Price range between $200,000 and $250,000 = 4 sold
•Price Range between $250,000 and $300,000 = 0 sold
•Price range between $300,000 and $350,000 = 2 sold
•Price Range between $350,000 and $400,000 = 1 sold
•Price range between $400,000 and $450,000 = 2 sold
•Price range between $450,000 and $500,000 = 1 sold
Over a price of $500,000 sold waterfront home stats : a total of 4 (2) between $500k and $600k; (1) sold at $741,900 and (1) sold at $820,000!

Don’t be disappointed that you missed out on your Hood Canal Waterfront Home because there are still many choices and some great values along the South Shore and North Shore of Hood Canal just waiting for you!

Time to start thinking about your summertime Hood Canal Waterfront Retreat!

If you would like more information on Belfair, Allyn and LakeLand Village homes for sale or Hood Canal and Puget Sound Waterfront Homes for Sale, drop me a line, give me a call, or stop on by. You can also check out the many choices and prices on my website!

~~Valerie~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Whether you are buying or selling a home, don’t put your goals off without talking to a local real estate expert with knowledge of homes for sale on Hood Canal, Southern Puget Sound as well as LakeLand Village, Allyn, Belfair and the surrounding area.

I Build relationships for life. YOUR SUCCESS IS MY SUCCESS!

Windermere Peninsula Properties

My email: vlsallyn@windermere.com

My website:

My blog : www.BelfairWARealEstate.com

My Direct line: 360.710.5622

When IS the right time to sell your home?

I receive a lot of calls with this and other questions this time of year.  

• When is the right season to sell?
• Should I wait til spring to put my home on the market?
• Should I take it off the market during the holidays? 
• Will the market change? 
• Isn’t it better to sell in the spring and summer? 

So when IS the right time to sell your home?  

The right time to sell your home, is WHEN THE TIME IS RIGHT FOR YOU!!

First – there is no wrong or right time to sell seasonal wise.  The question and the answer falls with

  “when is the time right for YOU?” 

 Second- if you want to sell your home, it needs to be actively marketed. It Needs to be seen to be sold!

That’s when its the right time to sell – when its right for YOU and your personal and financial goals. 

And how do I find that answer?

Get the FACTS and information on your local real estate market from a real estate professional.

Get a comparative market analysis on your home specifically from a professional local real estate professional.  A local real estate professional is going to know specifically what is going on in your market, which may be totally different in a neighboring market!  All real estate is local!

Discuss your goals with a professional real estate professional. Determine whether it is the right time for you to sell. For some, it very well may not be the right time. It is and should be a personal choice and decision after reviewing all of the facts of the market and your goals.

If you are waiting for the market to change – be careful! Especially if you are considering moving up, downsizing or relocating.  When homes for sale prices increase, it is going to decrease your purchasing power on the buying end.Typically you will be able to buy MORE home in this type of a market. 

During the holiday season and the fall and winter months, we tend to see the homes for sale inventory reduce considerably.  this means that there are fewer comparable homes for sale that you are competing against!

With the real estate market being as competitive as it is, wouldn’t you rather have LESS competition in the sale of your home?  The fall/winter and holiday period offers LESS COMPETITION!  

Are there fewer buyers out there this time of year? It may seem that there are fewer buyers out looking at homes during this time of year and there very well may be. THERE ARE BUYERS OUT PURCHASING YEAR ROUND,  BUT what we typically see during this time of year is a more serious buyer and not so  many “lookie lou’s, dreamers, or what ifs.”  

It is a fairly serious buyer that is out looking at homes in the cold, wind, rain, possibly snow.  They also see your home at its worst (which is not necessarily a bad thing); this can take allot of questions out of the buyers mind as to how the home will “fair” during rain, wind, snow and so on.  A home can still have good curb appeal especially during the Christmas season when the decorations bring a warm, cozy and inviting feeling to the homes. 

With fewer homes on the market during the fall/winter/holiday seasons, the buyers have fewer choices which brings more attention to your home. You could very well miss YOUR BUYER and delay a sale by waiting for a “season to sell” rather than selling when the time is right for you.

Have questions? Give me a call.  I offer a FREE, NO OBLIGATION comparative market analysis for your property/home.  I would love to provide you factual information re the current real estate market for the Hood Canal, Belfair, Allyn and surrounding areas to help you determine your goals and help answer “when is the right time for you to sell your home.”

And remember – My success is YOUR success.

HAPPY HOLIDAYS FROM MY HOME TO YOURS!  

In the past year Windermere Peninsula Properties has taken on Property Management in order to accomodate  clients who are just not ready to sell their home yet, or it is not financially feasible and they are looking for an alternative to selling.  Utilizing the property as a rental, could fit the bill for some.  There are quite a few questions that crop up… Let’s see if we can answer some of them here –

There is actually two parts to  services of Property Management. 

Property Management – This  is the actual “managing the property” either after a tenant is acquired or “managing the property” while it is vacant and the owner is unable or unavailable or just doesn’t want to do this.  This Property Management is a totally separate entity from placing a home into the rental pool of active rental listings to acquire a tenant. 

For those who have tenants currently in their property already, Windermere Peninsula Properties can manage the property for you. 

 The services we offer include :

1.  
   1.   collecting and disbursing monthly rent checks to you or to a payee of your choice. 
   2.   set up repairs and services for the property as needed. 
   3.  Overseeing  the property with visual inspections as well as scheduled interior inspections. 
   4.  We maintain contact and communication with your tenants to help keep not only your property in the best shape possible but to overcome and address any issues a tenant may have while renting your property. 

Some are just looking for a renter/tenant for their home. Our services for this include :

1.  
   1.  marketing the property to target possible renters
   2.  handle the showings
   3.  screening applicants,
   4.  lease paperwork
   5.  and move in walk through.

We at Windermere Peninsula Properties can do that. This is similiar to listing your home for sale only we are listing it for rent.  Just as I would market your home for sale, I market your home for rent.  we utilize our knowledge, experience and skills to actively market your property to obtain a qualified renter.  The biggest part of the marketing for a rental is your PRICE.   Just as with marketing a home currently – PRICE is 80% of the marketing.  If you are asking for more rent than a similair property in the area, the odds are it will take longer to rent your home than the landlord who’s rent is less. 

If you would like more information, please give us a call. Information is ALWAYS FREE and there is NO OBLIGATION! 

Unbelievable how quickly the holidays have happened upon us!   My granddaughter and grandson were just telling me about the wish lists they have made for Santa and now they need to get their list to Santa!!  What better way to do it than go to the man himself!!   Save the dates!   There is a lot happening around the town of Allyn!

November 26th – Saturday – Santa Claus is coming to the Port of  Allyn waterfront park on Saturday, November 26th!!   He will be arriving at 4:00PM via fire engine courtesy of Local fire District 5  and their elves!   Get their early to enjoy ALL the festive activities starting  and easy way to get your lists into Santa! There will be music, drinks, home backed cookies and craft activities starting at 3PM! 

December 19th – Monday – Join the Allyn Christmas sing a long at the gazebo in the Allyn Waterfront park from 7-8PM!  Hot cider, Krispy Kreme doughnuts and hot chocolate!! 

Good company, good song, good fun!!

and don’t forget – Black friday – SHOP LOCAL!!!

Have a GREEEAT Thanksgiving!  and I will see you around town!

~Valerie ~