I know many of you have been following the news reports and letters to the editor regarding the proposals to change the height limits for downtown construction projects - specifically the project for market rent condos on the isthmus between Capitol Lake and Budd Bay. I'm curious what you think - would you be interested in living in a condo right downtown where you could walk to stores, restaurants and entertainment? What should carry more weight for the community good - adding market rate housing downtown or preserving views? How do we decide? Are there other, better, downtown locations for high rise housing? Would you be so worried about earthquakes or rising water levels that you would not live on the isthmus? If the property was instead to be turned into a park, how would that be paid for in a time of crunched budgets? Would you pay more taxes or fees so it could be a park?
I'm curious to hear your views about this issue. I know frequently when I am showing homes to buyers new to the community, they are surprised (and disappointed) that we don't have more condo/townhome housing available in downtown Olympia. I also know many people feel passionately that blocking the views with high rise housing would be a horrible mistake. So how do you feel? Please post a comment to my blog, or email me to let me know your thoughts!
Monday, August 4, 2008
So How Was July Real Estate?
I compiled an update of market info for current listings, as well as new listings and new pending sales that happened in July for single family homes in Olympia/Lacey/Tumwater. And here is what I found:
Current available listings - 1396
New listings in July/New pending sales in July:
Under $200K - 26 26
$200-249K - 68 65
$250-299K - 91 43
$300-349K - 36 24
$350-399K - 31 13
$400-499K - 47 12
Over $500K - 46 9
So...still lots of homes available for buyers! And despite the continued tightening of loan criteria, there are still mortgage options for buyers with decent credit - especially if they do have down payment funds available.
And the new listings, new pending sales detail confirms what my gut impression would have been - under $200,000 homes are selling well and speedily. Note that there were exactly as many absorbed into pending sale status as new ones coming on the market in that price category.
The largest number of sales continues to be under $300,000. While just over 53% of new listings were in this price category, a whopping 69.79% of the new pending sales were - almost 70%!
And it is clear that homes over $400,000; especially over $500,000 are moving very, very slowly - only 21 sales total in the over $400K price category.
So, seems to still be the case that buyers have good options and potentially some negotiating clout. Sellers must price their homes as close to what they truly will sell for as possible and have them in tip top condition and ready to show well from day one on the market. And if the list price is over $400,000, sit back and draw on all your patience as it may take a while!
Current available listings - 1396
New listings in July/New pending sales in July:
Under $200K - 26 26
$200-249K - 68 65
$250-299K - 91 43
$300-349K - 36 24
$350-399K - 31 13
$400-499K - 47 12
Over $500K - 46 9
So...still lots of homes available for buyers! And despite the continued tightening of loan criteria, there are still mortgage options for buyers with decent credit - especially if they do have down payment funds available.
And the new listings, new pending sales detail confirms what my gut impression would have been - under $200,000 homes are selling well and speedily. Note that there were exactly as many absorbed into pending sale status as new ones coming on the market in that price category.
The largest number of sales continues to be under $300,000. While just over 53% of new listings were in this price category, a whopping 69.79% of the new pending sales were - almost 70%!
And it is clear that homes over $400,000; especially over $500,000 are moving very, very slowly - only 21 sales total in the over $400K price category.
So, seems to still be the case that buyers have good options and potentially some negotiating clout. Sellers must price their homes as close to what they truly will sell for as possible and have them in tip top condition and ready to show well from day one on the market. And if the list price is over $400,000, sit back and draw on all your patience as it may take a while!
Thursday, July 31, 2008
Pet Resource find!
We recently went on a week's vacation to Lake Chelan and found a wonderful resource for our pets while we were gone! We have had various friends and acquaintances house sit & pet sit for us in the past, but this time it seemed like all of those folks were either unavailable or had actually moved away - & we were wondering what we were going to do about care for our two dogs while we were away. Our older dog is a rescue dog, and I am pretty sure he would not do well at all if we tried to board him somewhere, so having someone come stay at our house and watch the dogs has always seemed like the only real answer.
I did some research on line about professional pet sitters and found Kari Kells! What a find!! I have added her website as a link on my blog under pet resources as we were so, so pleased with her!! She is very loving with pets and very business like in her approach to pet sitting. The dogs had fun with her, we vacationed without worry - how nice to know we can get away and feel like the pets will be very well cared for in our absence!
I did some research on line about professional pet sitters and found Kari Kells! What a find!! I have added her website as a link on my blog under pet resources as we were so, so pleased with her!! She is very loving with pets and very business like in her approach to pet sitting. The dogs had fun with her, we vacationed without worry - how nice to know we can get away and feel like the pets will be very well cared for in our absence!
Monday, July 7, 2008
Real Estate Market last month
I am changing my real estate market updates a bit; this will show total number of currently active residential listings in the Olympia/Lacey/Tumwater areas, as well as a rundown for the month of June for listings that came on the market or went pending by price category.
Total active listings within the greater Olympia area is now at 1444.
During June, the activity looked like this:
New listings New pending sales
Under $200K - 16 26
$200-250K - 112 52
$250-300K - 75 55
$300-350K - 36 23
$350-400K - 33 23
$400-500K - 51 13
Over $500K - 43 10
So there is still a good amount of inventory for buyers looking to get a great value on a home to live in or acquire as an investment property. I notice that in the under $200K category there were actually more new pending sales than new listings - those are still moving rapidly when they hit the market with even multiple offers being not an unusual thing. Buyers in that price range have to be ready to move very quickly with an offer when they find the house they want!
I think the pattern of new pendings in the price brackets of over $200K but under $400K are encouraging, too. It is when you get above $400K that activity is just very slow and time on the market tends to be pretty lengthy. I would still advise that anyone wanting to sell absolutely must get their home priced right (as in very, very close to the mark where it should actually end up selling) as well as having it in top notch condition inside and out. If you don't really need to sell and just think it might be interesting to "test the market" at an above market asking price - please think again!
Total active listings within the greater Olympia area is now at 1444.
During June, the activity looked like this:
New listings New pending sales
Under $200K - 16 26
$200-250K - 112 52
$250-300K - 75 55
$300-350K - 36 23
$350-400K - 33 23
$400-500K - 51 13
Over $500K - 43 10
So there is still a good amount of inventory for buyers looking to get a great value on a home to live in or acquire as an investment property. I notice that in the under $200K category there were actually more new pending sales than new listings - those are still moving rapidly when they hit the market with even multiple offers being not an unusual thing. Buyers in that price range have to be ready to move very quickly with an offer when they find the house they want!
I think the pattern of new pendings in the price brackets of over $200K but under $400K are encouraging, too. It is when you get above $400K that activity is just very slow and time on the market tends to be pretty lengthy. I would still advise that anyone wanting to sell absolutely must get their home priced right (as in very, very close to the mark where it should actually end up selling) as well as having it in top notch condition inside and out. If you don't really need to sell and just think it might be interesting to "test the market" at an above market asking price - please think again!
Eating locally!
I think this is the summer that I am really committed to eat as locally as possible. I loved the book Animal, Vegetable, Miracle by Barbara Kingsolver - that was part of my motivation to actually plant a vegetable garden this year after talking about it for at least the last 2 or 3 years. And so far it is sure fun to watch everything grow and be able to eat some yummy veggies right out of our yard! The cauliflower and broccoli are ready and some of the peas look like they are ready or close! The tomato plants are coming along nicely as well as squash (that already need to be thinned a bit) and onions, garlic, peppers, beans and cucumbers. The only thing that didn't go well was our lettuce - the slugs invaded in record numbers even though we spent quite a bit of time daily "flinging" them out of the garden. Finally decided they could eat the lettuce and we could just get that at Farmer's Market. I think it is working as they did devour the lettuce, but haven't gotten started on anything else. So anyone who knows non-toxic ways to deter slugs for future lettuce plantings, please pass along your wisdom!
Farmer's Market has also been a wonderful source of fresh local produce. We have been gorging on yummy strawberries and now the peaches from Eastern Washington have arrived - hurray! This crazy spring/summer have delayed a lot of the fruit from its usual harvest time - but that has just meant we are even happier to finally see it, and eat it!
So, I am finding our garden to be relaxing to work in, and I really enjoy not having to worry about some of the various alarming bulletins about the mass-produced items causing e coli or salmonella scares - organic and local offers great peace of mind as well as amazing taste!
Farmer's Market has also been a wonderful source of fresh local produce. We have been gorging on yummy strawberries and now the peaches from Eastern Washington have arrived - hurray! This crazy spring/summer have delayed a lot of the fruit from its usual harvest time - but that has just meant we are even happier to finally see it, and eat it!
So, I am finding our garden to be relaxing to work in, and I really enjoy not having to worry about some of the various alarming bulletins about the mass-produced items causing e coli or salmonella scares - organic and local offers great peace of mind as well as amazing taste!
Saturday, June 14, 2008
June market so far!
Well, June has brought us such crazy weather that it has been hard to know if we are just about to summer or moving back into winter already! Despite that craziness, real estate does continue to march forward - still with heaviest buying activity in the $200-300,000 price bracket.
I took a look this time at total active listings in the Olympia/Lacey/Tumwater area by price categories and it looks like this:
Under $200,000 - 71
$200-249,999 - 243
$250-299,999 - 291
$300-349,999 - 142
$350-399,999 - 156
$400-499,999 - 164
Over $500,000 - 238
Lots of available homes for sale!! But there do continue to be new pending sales also:
Under $200,000 - 12
$200-249,999 - 20
$250-299,999 - 33
$300-349,999 - 8
$350-399,999 - 6
$400-499,999 - 9
Over $500,000 - 5
So things are selling, but it is pretty clear that at the current pace, it will take quite a while to clear out the existing inventory! Still mainly a buyer's market!
I took a look this time at total active listings in the Olympia/Lacey/Tumwater area by price categories and it looks like this:
Under $200,000 - 71
$200-249,999 - 243
$250-299,999 - 291
$300-349,999 - 142
$350-399,999 - 156
$400-499,999 - 164
Over $500,000 - 238
Lots of available homes for sale!! But there do continue to be new pending sales also:
Under $200,000 - 12
$200-249,999 - 20
$250-299,999 - 33
$300-349,999 - 8
$350-399,999 - 6
$400-499,999 - 9
Over $500,000 - 5
So things are selling, but it is pretty clear that at the current pace, it will take quite a while to clear out the existing inventory! Still mainly a buyer's market!
Saturday, May 31, 2008
Market update
I am going to change the market statistical info to be a monthly update - watch for the first one next Friday. I will summarize what homes are on the market for sale in Olympia, Lacey, Tumwater by price brackets and also what is selling. So we will see how market trends look as we move into summer! I have seen two "bidding wars" on homes within the last week and a half, so certainly some price brackets and areas are still seeing fast market times and strong buyer activity.
Subscribe to:
Posts (Atom)
