Current Price Trends
April statistics just released by NWMLS show that our market is clearly separated into two segments. The under $250,000 inventory is quickly being sold while the higher priced homes languish on the market. This is driving the median home price for sold homes lower. This trend will likely continue as inventories of bank owned and pre-foreclosure listings increase.
Market Activity
Two trends that are positive were supported by April statistics. Sales increased for the fourth consecutive month and home inventory remained virtually unchanged for the fifth straight month. The 1156 recorded sales is the highest number since May 2007. The 5502 homes available for sale is the lowest number since February 2007. Waiting is reducing buyers choices.
Financial Market Trends
The 30 year fixed rate mortgages continue to fluctuate in a narrow range but finished the month averaging 4.875% to set a new record low. Financing isn’t easy though with underwriting being strict and appraisers using caution. Getting sales closed is taking effort. Buyers need to do diligent preparation with their lender before seriously looking for a home in this market.
Financial Market Trends
The 30 year fixed rate mortgages continue to fluctuate in a narrow range but finished the month averaging 4.875% to set a new record low. Financing isn’t easy though with underwriting being strict and appraisers using caution. Getting sales closed is taking effort. Buyers need to do diligent preparation with their lender before seriously looking for a home in this market.
Tuesday, May 26, 2009
Thursday, May 21, 2009
Wednesday, May 20, 2009
Why buy now versus waiting to "see what happens next"....with the economy
My top 5 reasons to take advantage of the current market conditions.
1. The $8000 tax credit (a.k.a. the 10% of the sales price tax credit) First Time Buyers can get a credit ~ real cash back on their taxes if they buy before November this year 2009. Ex: A $250,000 purchase = $2500 back on your taxes.
2. Low Interst Rates = more buying power and lower monthly payments. Don't wait for inflation to kick in and rates to jump up.
3. More inventory to choose from.
4. Motivated sellers ready to negotiate.
5. Pricing/value ~ nuff said.
1. The $8000 tax credit (a.k.a. the 10% of the sales price tax credit) First Time Buyers can get a credit ~ real cash back on their taxes if they buy before November this year 2009. Ex: A $250,000 purchase = $2500 back on your taxes.
2. Low Interst Rates = more buying power and lower monthly payments. Don't wait for inflation to kick in and rates to jump up.
3. More inventory to choose from.
4. Motivated sellers ready to negotiate.
5. Pricing/value ~ nuff said.
Affordable Buy - Puyallup - $230,000
Brand New Roof, Interior Paint, & Carpet ! (in process of completion) Not only is it close-in so you don't have to fight Meridian traffic, the house sits on a .34 acre corner lot w/ huge fenced backyrd w/ coverd patio. BBQ sold seperate! Built in 1988, this 2,074 +/- sq ft home offers 3 BRs, seperate util rm, walk-in pantry, multiple ceiling fans, 2 car garage, & plenty of room 4 parking. Best of all priced at just $230,000 ! That is a real value at $24,000 below Pierce County Tax Assessed Value !
Puyallup Market Statistics
click on graph for larger view of numbers.
click on each graph for a larger view.
Thursday, November 20, 2008
PROPERTIES
Just Listed ~ Spanaway ~ $265,000
This one is Sold
Dupont ~ $339,900 
Puyallup ~ $214,900More Details ? Just ask...
CURRENT Market Stats and Graphs
Below are graphs showing the Average Price trend in Pierce County, the Average $ per Square Foot, and the number of Active Listings vs Sold listings.
If you want specifics on your city or zip code, just let me know and I'd be happy to post them on this blog or share them with you.
Thanks, Josh Prieur
CLICK ON THE GRAPHS BELOW FOR A LARGER VIEW OF THE NUMBERS.
Click Graph for larger view
THESE ARE PIERCE COUNTY WIDE NUMBERS, YOUR ZIP CODE AND CITY INFORMATION MAY BE DIFFERENT....just ask and I'll post the results here...
Are you, a friend, or family member thinking of buying or selling Real Estate ? ? I'm here to help ! ! Just contact me at jprieur@windermere.com or 253-732-8621.
Wednesday, November 19, 2008
So what do the numbers mean ? ?
Current Price Trends
October market statistics just released by NWMLS show that median home prices continue to fall. This is the result of move-up buyers failing to enter the market in sufficient numbers. The $350,000 plus price range is seeing very little activity. New homes are being offered under $200,000. The index dropped to $257,129 which is back to price levels of March 2006.
Market Activity
October maintained one positive market trend. Home inventory decreased another 6% from 6929 to 6509 homes for sale. Inventory reduction is one of the keys to market recovery. Sales also showed a decrease, dropping from 916 to 694 for the month. This is the lowest figure since January. Given the severely challenged general economy news could be far worse.
Financial Market Trends
Interest rates were very volatile within the range of 6 – 6.5% as the market attempted to respond to the variety of economic stimulus efforts of the Federal Reserve and Treasury. When the dust settled, rates for 30 yr fixed mortgages showed no net change from the previous month. Strict underwriting continues to be a bigger challenge to
October market statistics just released by NWMLS show that median home prices continue to fall. This is the result of move-up buyers failing to enter the market in sufficient numbers. The $350,000 plus price range is seeing very little activity. New homes are being offered under $200,000. The index dropped to $257,129 which is back to price levels of March 2006.
Market Activity
October maintained one positive market trend. Home inventory decreased another 6% from 6929 to 6509 homes for sale. Inventory reduction is one of the keys to market recovery. Sales also showed a decrease, dropping from 916 to 694 for the month. This is the lowest figure since January. Given the severely challenged general economy news could be far worse.
Financial Market Trends
Interest rates were very volatile within the range of 6 – 6.5% as the market attempted to respond to the variety of economic stimulus efforts of the Federal Reserve and Treasury. When the dust settled, rates for 30 yr fixed mortgages showed no net change from the previous month. Strict underwriting continues to be a bigger challenge to
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