Thurston County market bucks national trends

Tis the time of year when I am always looking back over current year business and forecasting what is coming up around the bend in '08. So I thought it was very interesting to read a recent article confirming that Thurston County seems to continue to have a strong real estate market, insulated from the severe downturns happening in some other locations around the country.

Price appreciation has been much flatter than a couple years ago - although we did still see median prices go up 2.3% for single family homes in a year over year comparison. That takes us to a median single family home price of $265,000 - still a pretty good value compared to other locations north of us on the I 5 corridor!

Our market is still benefiting from strong economic growth, with some new large companies opening their doors (including the huge new Cabela's), and a steady underlaying employment base with the state government agencies.

It looks to me like 2008 will be a very good year, as people realize that all real estate is really, really local - and that real estate in Thurston County is still an awesome investment!

Let's Help San Diego!

I am feeling very lucky that the major issue we have tends to be too many rainy days in a row! When you look at all of the fires and horrible damage in California, Washington sure looks good - soggy or not! If you are wondering what you can do to help those affected by the fires, read on:

Community Relief Event for San Diego County hosted by Olympia Real Estate and Affiliates

Friday,Saturday and Sunday Nov. 2 thru 4th from 10 a.m. to 4 p.m. Olympia Real Estate, LLC. Will have it’s doors open so the public can drop off donations for the relief drive.

Donation items: Clothing, non perishable food items, blankets, bedding, pillows, toys, furniture items, games, kitchen wares. ALL ITEMS MUST BE IN VERY GOOD CONDITION OR NEW!!!

Cash and gift card donations also accepted!!!

Our goal is to fill the on-site Semi Trailer at least!!! Donations will be shipped to the san diego association of realtors for distribution (donated by A&E Relocation Services of Mayflower Transit)


LET’S MAKE THIS A GREAT COMMUNITY EFFORT TO HELP ANOTHER COMMUNITY IN SERIOUS NEED!!!

There are so many fun activities coming up in the Olympia area this fall! On Friday, October 5th, the annual Arts Walk will be happening downtown in Olympia starting at 5 PM. There will be fascinating art displays in most all the downtown stores and lots of entertainment, too - just stroll around to see all the displays and happenings!

Also this weekend is the Oyster Fest in Shelton at the Mason Co. fairgrounds. It runs from 10-6 on both Saturday and Sunday - loads of yummy seafood and Washinton state wines and microbrewery offerings. And don't miss the oyster shucking competition! Amazing speed!

Other family fun includes the Rutledge Corn Maze with horse drawn wagon rides and pumpkin patch too. It runs thru October 31st - check www.rutledgecornmaze.com for more details. Then there is Hunter's Pumpkin Patch with a giant slide, a hay maze, wagon rides, pony rides, kiddie train & more. Check www.hunterchristmastrees.com for details. You can also get your pumpkins for carving at Schilter Family Farm all month - check www.schilterfamilyfarm.com/seasons. And then stop by Lattin's Country Cider Mill Haunted House & Corn Maze - open Oct.5-28.

Call me or email me for more info on any of these or if you have a favorite fall activity I have missed!

Free workshops on Septic systems

Thurston County Environmental Health is offering a series of fall workshops about living with a septic system. Info will include how to prolong the life of your septic system, how to protect the system and the environment, and how to get a $10 discount on pumping. I have heard very positive feedback about what a comprehensive and helpful workshop this is - so if you have a septic or are contemplating buying a home or land that will be on septic systems, this is your chance to learn all about them!

The workshops will be offered:

Wednesday, October 10th from 7- 9 PM at Rochester Fire Station in Rochester

Tuesday, October 16th from 7 - 9 PM at Grace Community Covenant Church, 5501 Wiggins Rd, Olympia

Wednesday, October 24th from 7 - 9 PM at Black Lake Fire Station, 5911 Black Lk Blvd, Olympia

You can register on line at www.co.thurston.wa.us/health/ehoss/wkshp_sch.html or by calling 360-754-4111.

Resources for Seniors

I wanted to pass along to you info about two good resources for the seniors in your life! One is The Eldercare Locator, which is a nationwide service that can connect older Americans and their caregivers with information on services that can help someone live independently and safely in their homes for as long as possible. The Locator is a public service provided by the U.S. Administration on Aging, U.S Dept. of Health and Human Services.

You can find information on help with meals, home care, transportation, counseling, healthcare insurance and legal assistance. There is also training and resource information for caregivers.

You can access the Locator online at www.eldercare.gov/Eldercare/Public/Home.asp or by calling 800-677-1116.

Looks like a great way to identify trustworthy local support resources!

The second is called Vial of Life Project. This is something that emergency medical technicians are trained to look for in a patient's refrigerator - it is a container (an old prescription bottle with a label with large red lettering would work great) that holds vital information like details on prescription medications taken, allergies, documents like living wills and non-resuscitate orders etc. If you don't want to make your own, you can go to www.vialoflife.com and register to receive a free information kit.
The only problem at my house would be whether anyone could FIND the vial in my refrigerator, which tends to accumulate leftovers that I'm certain we will eat - someday!

Info on both of these resources is from "Today's Buyer's Rep" April 2007 , Volume XVI Number 4.

Property Taxes & Exemptions

April tis the season to think about property taxes as April 30th is when the first half becomes due! Yes, I know it is barely after income taxes are due, too, which makes it a bit challenging for many!
Lots of people choose, or their lender insists, on having the property taxes be part of their monthly mortgage payment, so that a portion goes into the account earmarked for taxes each month and then the lender makes the payments as they come due. If you do pay yours separately from your mortgage, then end of April and end of October are the times to remember! Property tax statements are mailed out on Valentine's Day.
In this state, property taxes are one of the main sources of state and local revenue as we do not have a state income tax. The process begins with the County Assessor's office assessing the market value of the home, based on statistical information about sales prices of similar homes, and periodic physical appraisals of the property. Once the assessed values are established, a valuation notice is mailed out so that the owner has an opportunity to question the assigned value if they believe it to be incorrect. There is a formal appeals process that can be used to dispute the valuation also - although if the complaint is just that the owner doesn't want to pay taxes on that much value, but would not sell for less, then the assessment will likely stand! Actual data about similar homes that recently sold for lower prices would be necessary to convince the Assessor's office or appeals board that the assessment is in error. Information about interior condition may also be applicable since frequently the appraiser's visit comes at a time when the homeowner is at work.
The link to geodata.org will allow you to link across to the assessor's office to look at the info they show on your home, or to the treasurer's office to check tax amounts. The actual property tax will be the assessed value of the property times the applicable levy rate for your location. The levy rate includes portions like school levies that have been voted on by the public. In Thurston County, the levy rate is often in the ballpark of $14 of property tax for every $1000 of assessed value.
State law also allows for several exemptions which may reduce your property tax considerably if applicable. There are exemptions for senior citizens (defined as at least one of the property owners being 61 or older), or owners who are 100% disabled and unable to work. There are several qualifications that apply, and you can get applications and all the info from the Assessor's office. There are also exemptions for remodeling, and for some land which is used for agriculture or is planted in timber. Again, the applications and information about these exemptions can be obtained thru the County Assessor.
Property taxes pay for many of the services we all use and appreciate - from schools to roads to libraries to medic one. You can get the breakdown of where all those dollars go from the Treasurer's office as well as the exact current levy rate for your property (it will also show up on your property tax statement).
And, in a market that continues to appreciate like ours still is doing - the good news is it is almost a certainty that the value you will pay taxes on is lagging behind the true market value of your home!

Great resource for property info

A resource that I use VERY frequently is the Thurston County website www.geodata.org. This website allows you to click on parcel search and then enter either a property address or the tax parcel number. The information that comes up lets you then either go to assessor data such as assessed value, property description (year built, square footage etc), permits, sales etc, or you can go to a map. The map feature is wonderful as you can choose and look at layers like flood zone, wetlands or buffers, high ground water, aerial views & more. You can click on adjacent properties to indentify their ownership. You can use a measuring tool to see the dimensions of the lot. This is really handy when you have questions about a house or piece of property, as the info here will provide answers to many of those questions.
The website also lets you link to the main Thurston County website so that if you want more info from the assessor's or treasurer's office or the permit assistance center or planning you can easily get there.

Shawn's Journal: What Not To Do During Your Loan Process

Shawn's Journal: What Not To Do During Your Loan Process

House buying seasons

It has been a while since my last post and I think it illustrates something about the cycle of when real estate is busiest and less busy. Traditionally many people have thought that the ideal time to list a house for sale is in the spring, figuring that most buyers will buy then so they can move in the summer before school starts.
Well, in recent years, that doesn't really represent what is happening in real estate cycles. I have seen January be an EXTREMELY busy month, often due to the fact that our slowest time tends to be from about mid-November until January 2nd. That end-of-the-year period seems to be one that is so busy for people with other holiday activities - plus the weather is not particularly inviting then (to say the least) - so many buyers put their house hunt on hold and many sellers prefer to not have to worry about showings until January. It is probably the least preferred time to move as well for the same busy activity/crummy weather reasons.
With that lull in November and December though, there is always some pent up demand come January, when buyers are ready to get back to some serious house hunting.
So sellers who think they must hold off until mid to late spring to put their home on the market may be missing that window of high buyer demand and less competition from other listed homes. Of course, sometimes there are some legitimate reasons why a seller should wait - if they really need to paint the exterior, replace the roof or redo the front landscaping, they may be wise to wait until they can accomplish those items since first impressions are so important. If the home will lack in street appeal in January, then March or April will be a better choice to begin the marketing.
The other curious timing thing I have observed is that often August is an extremely slow month! This again seems counterintuitive since weather is great, there is still time to get moved before school etc etc. My explanation is that many people are too busy enjoying a last fling of vacations and outdoor activities before school, not to mention all the school clothes and school supplies shopping that occurs. So August can be a lazy month sometimes, followed typically by a big resurgence of activity shortly after Labor Day and schools beginning. Parents of school age kids can now refocus on house hunting (& can do the house hunting without the distraction of bored children who don't really think this is the most fun ever!)
So particularly for all you near-future sellers out there - don't be fooled into thinking that the best or only window to sell a home is spring or summer - it is happening now!!