Joshua Koffler's Real Estate Blog - Features

Snohomish County Residential 2010 to 2011 comparisons

nospam@example.com (Joshua Koffler) — Fri, 20 Jan 2012 11:58:46 -0800

Below is a link the year ends stat's from the Northwest Multiple Listings comparing 2010 to 2011. As you can see we have experienced a drop in inventory but an increase in the number solds since 2010. You can also note that prices have decreased with a breakdown of area.

http://www.joshuakoffler.com/uploads/11vs10SnohomishJoshua1.pdf

A company that I am proud to be a part off- Windermere Real Estate

nospam@example.com (Joshua Koffler) — Wed, 11 Jan 2012 09:09:37 -0800

Later this month, Windermere agents from throughout the Western U.S.
will come together in Seattle for our annual Windermere Symposium.
They’ll talk about important issues, share ideas, and learn about new
products and services to help them better serve their clients. It’s a
time for camaraderie, collaboration, and celebration. And this year,
that celebration includes kicking off Windermere’s 40th anniversary.

In honor of this exciting milestone, we thought it would be fun to
look back at how things have changed during the past 40 years. In 1972,
real estate looked a lot different than it does today. Instead of
websites there were Polaroids. Instead of email there were hand-written
notes. Real estate deals were done on the back of cocktail napkins and
sealed with a handshake. And when you wanted to look at homes, you did
so while riding around in the back seat of your agent’s car. Here are
some other things we found interesting when looking back at the last 40
years:

Much has changed since 1972, but one thing we’re proud to say has
remained the same is our agents’ steadfast commitment to their clients
and their communities. They carry on the tradition started by our dad in
1972 when he founded Windermere and built a business centered on
community and mutual respect. For us, Windermere’s 40th anniversary is
about honoring those humble beginnings, as well as our agents who are
truly the ones who make this celebration possible.

Woodinville Home in Wellington area

nospam@example.com (Joshua Koffler) — Tue, 02 Mar 2010 17:22:16 -0800

Quality home strategically positioned on a beautiful .83 acre lot in Woodinville. Your home boasts 4 large bedrooms upstairs with one downstairs, den/office with separate entrance, formal sunken living room with fireplace, family room with free standing stove, updated kitchen with eating area, dining room, and two car garage. Also included on this surreal lot is a shop, RV garage, two separate driveways, large garden space, large level front lawn, sprinkler system, covered back patio and more! Call me for more information or to set up your own private showing!$350,000.

Snohomish County Residential Year Stats

nospam@example.com (Joshua Koffler) — Thu, 08 Dec 2011 11:51:49 -0800

I was doing some year end stat’s using the data from the Northwest Multiple Listing and wanted to share my results with you.

I compared how many homes sold last year compared to this year and what percentage of these closed sales were “distressed” (short sale/bank owned).

From January 1, 2010 to December 8, 2010 in Snohomish County there were 6,518 sold residential home with 34% being “distressed”.

From January 1, 2011 to December 8, 2011 in Snohomish County we have sold 6,930 residential homes with 46% being “distressed”.

So, in 2011 our sales have increased, the percentage of distressed home sales have increased BUT our inventory is down (around 25%) along with home values (around 10%).

My conclusion- with interest rates being as low as they are and home values being around the 2002/2003 prices the affordability of homes today are at an all time high. I see many first time homebuyers taking advantage of today’s market along with investors. My prediction is that the market will continue along the same lines thru Spring and Summer.

What to look for in a good Real Estate Agent!

nospam@example.com (Joshua Koffler) — Thu, 10 Nov 2011 10:18:44 -0800

Buying a home is one of the most significant financial and emotional
purchases of a person’s life. That’s why it is so important to find an
agent that can not only help you navigate the home search process, but
one who can also answer your questions and represent your needs from
start to finish. Most importantly, your agent should care about your
happiness and ensuring that you find the home that best fits your needs.
. Here are some qualities to consider when selecting a real estate
agent:

Someone you like. More than likely, you will be spending a lot of time with your agent, so look for someone that you enjoy interacting with.
Someone you trust. One of the best ways to find an
agent who you feel you can trust is to ask friends and family for a
referral. Another way to do this is to interview different agents and
ask for client references.
Someone who listens. While your agent can’t read your
mind, they should be able to make educated recommendations and offer
advice by listening closely to your needs. Make sure you talk to your
agent about your priorities, what types of features appeal to you, as
well as any factors that could be deal breakers. This will arm your
agent with everything they need to help find you the perfect home.
Qualified and experienced. Make sure your agent has the
qualifications and experience to meet your specific needs. For example,
some agents have more experience with short sales, while others might
be experts on certain neighborhoods or types of housing. Your agent
should also be fully trained in contract law and negotiations
Knowledgeable. A great agent is someone who is out in
the neighborhoods, exploring communities, visiting listings, performing
marketing analyses, and collecting all the information that you need to
make an informed, confident decision about your real estate needs.
Honest. Your agent should be upfront and honest with
you about every aspect of your home search process – even if it involves
delivering bad news. The best real estate agents are more concerned
about finding the right home for their clients, not just the home that
brings in the fastest commission check.
Local. Every community is different and all real estate
is local, so it’s important to find someone who really knows the local
market and can provide you with whatever information you need to
familiarize yourself with a particular area..
Connected. A well connected agent will have
relationships with lenders, inspectors, appraisers, contractors, and any
other service provider you might need during your home search.
Straight forward. You want an agent who will work hard
to help you find the best home, but you also want someone who will be
straight forward with you about the process, the market reality, and
what is realistic for you.
Committed. Your agent should be in it for the long
haul, meaning that they’re looking out for your best interests every
step of the way, no matter how long the process takes. The best way to
find an agent with these qualities is by asking around. In all
likelihood, someone within your circle of friends or family will have
experiences to share and professionals to recommend.

Snohomish County Reale Estate Market

nospam@example.com (Joshua Koffler) — Wed, 02 Nov 2011 13:22:12 -0700

How is the real estate market doing this year in Snohomish County? To help answer this question I ran some numbers courtesy of the NWMLS to compare the number of sold residential homes in Snohomish County from January 1^st to November 1^st for the last 4 years.

Here is what the numbers are saying-

2008 from January 1 to November 1 there were 5311 sold homes (residential only)

2009 from January 1 to November 1 there were 5249 sold homes (residential only)

2010 from January 1 to November 1 there were 5935 sold homes (residential only)

2011 from January 1 to November 1 there are 6151 sold homes (residential only)

Currently in Snohomish County we are experiencing our third straight year of an increase in the number of sold homes. This is good news!!

Lake Stevens Rhodora Heights Rambler!

nospam@example.com (Joshua Koffler) — Mon, 12 Sep 2011 14:15:24 -0700

This home is worth the wait! This quality built
rambler is nestled a large corner lot with a fully fenced yard that
includes fruit trees, covered RV/boat parking, covered back deck, and
plenty of extra room for you enjoyment. Your new home features 3 large
bedrooms, sunken living room, dining room, large kitchen with granite
counter tops and tile flooring, updated baths, six panel doors, gas
heat/water and much more. This is great home with the lack of
restrictions you are looking for! Call me with any questions or to view this home in person.

Make the Most of the Home You Have

nospam@example.com (Joshua Koffler) — Fri, 02 Sep 2011 10:34:00 -0700

If you have been in your home for a while you may be restless for change. The great part about having a home of your own is you can make improvements and give your home a chance to evolve over time. You just need to help your home live up to its potential. Here is a top ten list of improvements that will help you make the most of your home.

Find your home's purpose. Each home is as unique as its owners, so in order to fully utilize your home, consider how you view your home's purpose. Some people like to entertain, other find it a calm space in the frenzy of daily life, some nurture their families and others nurture their creativity.
Assemble a list. A list always helps to figure out where to start or prioritize what is the most important project. Think about what you want to change in your home, inspirations, and preferences.
Make an "inspiration board". An inspiration board is a great way to visualize your home's decor. One way of doing this to use magazine cutouts, color swatches, and fabric samples. Doing this will allow you to see all the elements you like in one place so that you can then tie it all together into a room you love.
Create a collection. If you have items that you like to collect, think about how to transform that collection into something you can display. If you don't already have a collection of loved objects think about that this collection would be for you. You can center a room design around your travel souvenirs, old camera collection, figurines, unique plates, or familial objects.
Choose a new palate. Shake up your sensibilities and think of a color that will compliment your room while making a statement. It's easy to fall into the white/beige standby to keep our rooms neutral, but sometimes a color that provides a contrast to your decor will make the room pop.
Repurpose an old piece of furniture. Instead of replacing your furniture give it a facelift. You can have a sofa or chairs reupholstered or make use of a slip cover. Also, painting and staining can add new life to your wood pieces.
Rearrange. Moving furniture around is another easy way to reinvent your space. Try placing your sofa on an angle to open your entertaining room or move your lamps to improve lighting. You can also think about moving a piece of furniture into a room to give it a new life, like using a unique dresser for a credenza or a chair as a side table.
Make a room of your own. Find some space in your home that is uniquely yours, whether this is the corner of the guest room or an office of your own. It can be very rewarding to have a space that you can organize to fit your personal needs without the worries of other intruding.
Find an inspirational object. Have you ever fallen in love with an object that inspired you to want to completely redo a room to accommodate it? Designing a room around an inspiring object can be a great way to create a space that truly embodies your design sensibility.
Find design motivation. Home design evolves over time and can be sustained by finding items that inspire you. Read magazines and books that inspire your interest in architecture, design, art, etc. Or find stores and flea markets that sell pieces that influence your aesthetic. Or bring a camera with you when you're doing your favorite activities and bring back memories or inspirations. Most of all have fun!!

What inspires your home design?

This blog is courtesy of Windermere Real Estate and written by Tara Sharp.

Top Floor 2 Bedroom Condo in Everett found in a Gated Community!

nospam@example.com (Joshua Koffler) — Mon, 09 May 2011 13:47:01 -0700

Gated Community! This exceptionally maintained top floor 2 bdrm condo is waiting for you! You'll enjoy the roomy living room with a gas fireplace, dining room with views of the greenbelt, updated kitchen with tile counter tops and the gas stove. The recessed lighting, white trim work and white six panel doors really make this condo stand out! Your master bedroom includes a walk-in closet and a complete master bath. Washer and Dryer hook-up in unit. Did I mention the private patio with views? Call me for more information or to schedule a private showing.

Vuemont Townhouse in Lakemont!

nospam@example.com (Joshua Koffler) — Thu, 07 Apr 2011 17:06:53 -0700

Great Opportunity! This 1500 sqft. 3 bdrm, 2.5 bath Murray Franklin resale townhouse in Vuemont is waiting for you! Your new townhouse boast a large open kitchen with tile counter tops/backsplash, large living room, dining room, master bath with walk-in closet and a utility room. The private setting includes a partially fenced backyard with a patio that backs up to a greenbelt, private front entrance and a 1 car detached garage. This is not your ordinary townhouse! Call me for more information or to schedule a showing!

South Everett Condo for $57,750!!

nospam@example.com (Joshua Koffler) — Fri, 25 Mar 2011 12:51:59 -0700

Don’t judge a book or a condo by its cover! Your ground floor corner unit 2 bedroom condo boasts 852 square feet with a dining and living room adjoined with a fireplace, updated kitchen, washer/dryer hook-ups, master bedroom with a large walk-in closet and a private covered fully fenced patio. Your meticulous cared for unit offers exceptional light all year, crown molding, newer carpet, stainless appliances, 6 panel doors, private storage unit and two designated parking spaces. Call me with further questions or to schedule an appointment to view this condo!

Quality built home on .43 acres in Smokey Point

nospam@example.com (Joshua Koffler) — Tue, 08 Mar 2011 14:49:57 -0800

Country living but close to amenities and freeway access! Your 2005 built 2-story home boast 3 large bedrooms, 2.5 baths, den/office, family room with a propane fireplace, propane heat/water, living room, large kitchen with eating area, and utility room. You will also enjoy your fully sheet rocked 3 car garage with 220 power and an inviting covered front porch. Your .43 acre lot features a gated entry, circle driveway, fully landscaped, private backyard and plenty of room for extra parking. Call me with any questions or to set up a time for your own private showing!

Deciding to sell your home?

nospam@example.com (Joshua Koffler) — Tue, 01 Mar 2011 08:52:03 -0800

Choosing to put your house on the market is rarely easy, but if you must sell to move onto the next phase of your life, then you want to make sure your house is purchase-ready to get the most out of your investment. If you aren’t sure if you are ready to sell, you can always consider becoming a landlord or finding a property manager to handle tenants. But if you have decided to put your house on the market, it is time to let go of sentimentality and start thinking of it as a house again–not your home. Here are some tips for getting your house ready to sell and placing it on the market:

Do an audit: Go through the house, making notes of any projects that need to be completed, and anything that needs to be replaced, repainted or repaired. Here is a good checklist to get you started. If you are unsure about any major problems, you may want to hire an inspector to look at your home prior to putting it on the market so you can fix all issues and avoid getting stuck in heavy negotiations.

Start with a blank canvas: Look at your home from the perspective of a potential buyer. You will want to neutralize your space so anyone interested in the house can see its full potential. Keep in mind that you may love your red wall, wall-to-wall carpet or lavish art, but others may find it hard to see beyond the decorations to imagine their own taste in the house. Neutralizing the space can be as easy as painting the walls a soft white, paring down possessions or scaling back on updates. Once your home is turn-key with the basics, start to think about the updates that will make the most difference in your return on investment.

Get the most bang for your buck: If you are considering upgrades to increase the value of your home, stick to projects that will make the most sense, such as increasing the curb appeal by re-painting or replacing an outdated front door and upgrading the landscaping with easy-to-maintain plants and pathways. The first impression your home makes on a buyer is key to selling your home quickly. If your appliances are out-of-date, you may want to consider upgrading to energy-efficient models, which will appeal to a wider set of buyers. Avoid laying down new carpet; if the carpet needs replacing, consider wood flooring, as more people are replacing carpets with hardwood these days. Also keep in mind that your aesthetic will likely be different than those looking at your home, so avoid updates to the kitchen and bathroom that may offend the next homeowner. They will consider the need to replace these as a part of their offer. For more ideas on projects that bring a return, go here.

Find a listing agent: Once you are ready to put your home on the market, find a listing agent you trust will promote your home and bring the most return. Interview a number of agents to learn about their methods of marketing your home to other agents and potential buyers. They should be knowledgeable about the area, the market, comparable listings, staging and marketing techniques that will work best for you. Look at potential agents’ past listings to see the techniques they employ, the photographs and language they use to market the homes, how long homes have been on market and what their listings look like.

Price your home to sell: Pricing your house right the first time will help it sell faster. The great news is there are plenty of buyers looking to purchase homes right now, and this trend should continue. The concern for many homeowners ready to sell is that their expectations for the selling price of the home will not necessarily be met. Increase your chances of getting your home off the market fast by working with your listing agent to price your home right. Your listing agent will factor in a number of considerations when helping you determine the best price for your home, including comparable homes that have sold in the area or similar locations, the type of home, neighborhood, condition, etc.

Staging: Now that you have gotten through most of the process for putting your home on the market, look at your home through fresh eyes. Staging your home is a fine balance between making your home inviting and setting a canvas for the next homeowner to envision the space with their stuff and to fit their life. Your home should look inhabited but clean, uncluttered but not sterile. Whether you work with a stager or do most of the set up yourself, you will have to get rid of the clutter and pare down all your belongings to the essential.

Thin out your closets; full closets look small.
Remove all personal items, photographs, trophies and excessive collections so prospective buyers can envision the home as theirs.
Pare down all your belongings to keep your home efficient and cleaning easy.
Pay attention to the details; you want your home to be welcoming in every way.

Putting your home on the market can be stressful, but you can minimize stress by following these tips and other ideas for getting your home ready to sell. The better prepared you are prior to listing your home, the easier it will be to sell to prospective buyers. In the end, realistic expectations about how long it will take to prepare your home to go to market, what renovations will get you the best return, and what is the right price to motivate buyers will help your home sell quickly, saving you money in the long run.

What are your home-related resolutions for 2011? How are you doing on reaching your goals?

This blog is courtesy of Windermere Real Estate-

60' of no bank lake front property with a 1735 square foot home!

nospam@example.com (Joshua Koffler) — Wed, 16 Feb 2011 14:10:18 -0800

Rainbow Lake front home built in 2008 with 60’ +/- of no bank lake water front on a .26 acre lot! Your home boast 1735 square feet, 3 bedrooms (with a 4 bedroom septic), 2.5 baths, huge bonus room, utility room, dining room, living room and a 2 car garage. You will enjoy the lake views from your dining room, kitchen, master bedroom, and bonus room! Your lot is level with a large front yard, extra parking, with your own private access to Rainbow Lake via your backyard! Call me for more details or to schedule your own private showing!!

How will a short sale affect my credit score?

nospam@example.com (Joshua Koffler) — Thu, 10 Feb 2011 14:01:41 -0800

I have done numerous short sales successfully closing many. One of the most common questions I get during my listing presentation and explanation of the short sale process is " How will this short sale affect my credit score?". So, I am able to give you an actual testimony of one of my past clients who checked their credit score prior to their short and after.

This seller sold their home in 2010 with a short sale on the second lien holder only. The seller did not miss any mortgage payments but was able to prove a hardship, though. When the seller's started this process his credit score was 780 and her credit score was 730, now six months after the short sale was final and reported to as "legally paid in full for less than the full balance" his credit is 776 and her credit score is 637. So, this shows that yes, you can get a short approved without missing a payment and it won't always be a big hit on your credit score.

This is a real life example of how a short sale can affect your credit score but of course each situation is going to be different.

If you have done a short sale, I would welcome any feedback!!

Lake Stevens waterfront home on .44 acres!! 1627 Vernon Road, Lake Stevens WA 98258

nospam@example.com (Joshua Koffler) — Thu, 06 Jan 2011 12:14:24 -0800

Idyllic Lake Front home on Lake Stevens with 200'+/- of waterfront on a .44 acre lot with absolute privacy. This striking home boast 5, 028 sqft that includes 4 bdrms, 5.5 baths, media room, 2nd kitchen, detached studio, shop, sauna, 6 decks with lake views, 8 rooms with lake views, 2 gas fireplaces, covered deck/outdoor living area plus this home is replete with upgrades! Geothermal heat, sea plane lift, boat house with lift, gated entry are just a few of the extra extras. Call Joshua Koffler with any questions or to set up an appointment for your own private showing!

Here is a link for a walk thru media- http://www.wa lkthroughmedia.com/51788

10203 10th Pl SE, Lake Stevens WA 98258 A Must See!!

nospam@example.com (Joshua Koffler) — Tue, 14 Dec 2010 15:43:38 -0800

Beautiful 3 bedroom, 2.5 bath, 1662 square foot Tri-level home that has been well cared for by the original owners! Your new home features living and family rooms with bay windows, vaulted ceilings, hardwood floors, kitchen with tile floors, tile countertops and backsplash, wood burning insert, and much more. Newer comp roof and hardi-plank siding has already been done, too. Your lot includes a shop/shed with power and heat, huge backyard patio and very inviting front porch. This is a must see! Call Joshua Koffler for more information or to schedule your own private showing!!

1602 Lake View Place, Snohomish WA

nospam@example.com (Joshua Koffler) — Fri, 10 Dec 2010 16:48:14 -0800

Here is your chance to own a quality, updated 5 bdrm, 2 full bath, 1888 sqft, 2- story home with the master on the main floor. In your home you will find hardwood floors through out, tile floors in the kitchen and baths, built-in vacuum, gas heat/water/stove, and more. Your kitchen is open and bright due to the large windows giving you your mountain views. Your corner lot includes a fully fenced backyard, deck w/hot tub, entry w/arbor, and ample parking. This is your opportunity- don’t miss it! Call Joshua Koffler for more information or to set up a time for your own private showing.

November Real Estate Update for Snohomish County

nospam@example.com (Joshua Koffler) — Wed, 01 Dec 2010 16:21:45 -0800

Residential Status	November	October	September	August
Sold	403	412	514	431
Pending	799*	821	772	829
Active	4,047	4,292	4,536	4,730

This information is courtesy of the NWMLS. This does not include condos.

*296 went pending in the month of November

Thanksgiving was here and gone, and I have much to be thankful for! Wow, what a early blast of winter too.

The real estate market followed the historical trends with all the numbers decreasing as holiday season is in full swing. Two numbers that did increase in November are the percentage of pendings and solds that are "distressed" properties. The percentage jumped from 36% last month up to 43% this month, which is a good sign!

Here is an interesting stastic I came across in my everyday market watch: year-to-date, we have higher unemployment rates than 2009; however, year-to-date Snohomish County has sold more residential homes than in 2009. So, we have lost more jobs than last year, but sold more homes. My conclusion? The $8,000 tax credit.

Merry Christmas and Happy New Years to all and I'll keep the updates coming as we enter into 2011.

Current interest rates are hovering around 4.40%, make homes as affordable as the early 80's!

Marysville Home Sold-

nospam@example.com (Joshua Koffler) — Tue, 02 Nov 2010 11:25:01 -0700

Here is what the seller of a Marysville home said about my services-

How would you describe the services you received?

"Josh was very helpful from beginning to end. We would definately recommend his services. Thank you. He is an asset to your company, very professional and personable.

How did you learn about Josh?

Referred by friends

Other Comments-

"Josh helped us sell our home in a challenging economy"

October Real Estate Update for Snohomish County

nospam@example.com (Joshua Koffler) — Mon, 01 Nov 2010 17:01:21 -0700

Residential Status	October	September	August	July
Sold	412	514	431	438
Pending	821*	772	829	820
Active	4,292	4,536	4,730	4,678

This information is courtesy of the NWMLS. This does not include condos.

*352 went pending in the month of October

It is already November! The holidays are just around the corner, and big elections tomorrow. Wow, how the year goes by!

The number of active listings continues to drop, while pendings are up and solds are down in a striking contrast to last year's 669 homes sold in October!

Distressed homes are still over 30% of our market, and I have been seeing this percentage stay strong at 33-36% for active, pending, and sold homes. This compared to October 2009 where we were only at 25%.

There are still great deals to be had and affordability (wages, interest rates, and cost of homes) has never been this low since the early 1980's. This is the perfect market to invest in real estate for the long term!!

Current interest rates are hovering around 4.25% with all indications leading to a rate increase in the future, more than likely after the November elections!

September Real Estate Update for Snohomish County

nospam@example.com (Joshua Koffler) — Mon, 04 Oct 2010 16:27:38 -0700

Residential Status	September	August	July	June
Sold	514	431	438	702
Pending	772*	829	820	818
Active	4,536	4,730	4,678	4,616

This information is courtesy of the NWMLS. This does not include condos.

*339 went pending in the month of September

Just as I predicted in last months update- we had a surge in homes sold in the month of September with a decrease in homes pending sale. Why? This happens every year in real estate due to summer vacations ending and school starting.

The percentage of real estate that is "distressed" (short sale/bank owned) had no significant change.

What about home values? My first hand experience with current listings and performing market analysis for potential listings still shows a steady decline in values. I've also had conservations with appraisers and other agents who are confirming my observations. Purchase and sales are coming in lower than asking price (tomorrow's comparables), current listings are continuing to drop their prices to be competitive, and we are still seeing many "distressed" homes coming on the market. The good news is that home affordability is at all time lows with 3 years of prices falling and historicaly low interest rates! This is a great time to buy!

Current interest rates are hovering around 4.15% with all indications leading to a rate increase in the future, more than likely after the November elections!

2 bedroom condo in South Everett

nospam@example.com (Joshua Koffler) — Tue, 05 Oct 2010 15:04:12 -0700

Conveniently located condominium! Your 2 bedroom, 2 full bath (1 being a master bath), condo with W/D hook ups in your unit and two designated parking spaces is located close to freeway access, shopping, and recreation. This condo was totally renovated in 2006 with new flooring (tile-laminate-carpet), windows, appliances, trim/door package, paint, and kitchen with tile counter tops. Community features include outdoor pool, exercise room, game room, hot tub and gated entry. Call me for more details or for you own private showing!

August Real Estate Update for Snohomish County

nospam@example.com (Joshua Koffler) — Fri, 10 Sep 2010 16:00:16 -0700

Residential Status	August	July	June	May
Sold	431	438	702	617
Pending	829*	820	818	1,096
Active	4,730	4,678	4,616	4,254

This information is courtesy of the NWMLS. This does not include condos.

*334 went pending in the month of July

For many of us school has started or will start very shortly and the summer is coming to an end. As for the real estate market, there was not much change in the month of August compared to July, but I have experienced an increase in buyer activity, so I expect the numbers to change for September. We are still running around 35% of all sold, active, and pending listings being either short sales or bank owned. What makes this market appealing is it's affordability; with prices down and interest rates at all-time lows, home ownership is very affordable. I just came across two different buyers that have chosen to buy in leau of renting because there mortgage payment was going to be lower tham their rent payment!!!

Here is a comparison of 2009 sold properties in August to 2010 sold properties in August-

2009- 635 sold properties with only 22% being short sales or bank owned.

2010- 431 sold properties with 34% being short sales or bank owned.

Current interest rates are hovering around 4.35% with all indications leading to a rate increase in the future, more than likely after the November elections!

Rambler in Marysville!

nospam@example.com (Joshua Koffler) — Fri, 27 Aug 2010 11:32:25 -0700

Looking for a quality well maintained rambler on a large lot that is not a short sale or bank owned? Then this is the rambler for you! Your new home features 3 large bedrooms, master bath, full bath, open bright kitchen, sunken living room, and dining room. You will appreciate the new laminate flooring, tile flooring, skylight, pellet insert and new windows and roof in 2008. This quality home is located on a cul-de-sac that features RV/Boat parking, private fully fenced backyard and large deck. Call me with questions or to set up a time for your own private showing!

Predictions for the Housing Market-

nospam@example.com (Joshua Koffler) — Mon, 23 Aug 2010 09:22:47 -0700

Last Tuesday, the government held a "Future of Housing Finance" conference to discuss changes needed in this area. Most participants agreed that government assistance for housing must be reduced but not eliminated. Bill Gross, from PIMCO and one of the panelists, called for a massive refinancing of certain mortgages backed by Fannie/Freddie/FHA, believing such a move would lift home prices 5% to 10% and provide a $50 Billion stimulus to the economy. I will be watching this situation closely for further developments.

Home sales and the job market - two key aspects to our continued recovery - are also areas we need to see change in an improving direction. Last week, the NAHB Housing Market Index came in a bit worse than expectations and showed housing to be at a 17-month low. It can be argued that the tax credits actually hurt the housing market by not adding any sales, just pushing them up. This has now resulted in a void or softer period in the market, potentially wasting billions of dollars. Housing Starts and Building Permits were also reported lower than expected last week. Clearly, demand for housing has slowed over the past few months, due to the expiration of the Home Buyer Tax Credit and persistently high unemployment.

Speaking of unemployment, awful is the only way to describe last week’s Initial Jobless Claims report. According to the report, 500,000 people filed to receive unemployment benefits for the first time, which was well higher than the lofty 475,000 expected and the highest reading since November 2009. In addition, between Continuing Claims and people receiving Emergency Unemployment Compensation or EUC, the combined total of people receiving unemployment benefits now equals 9.25 Million people.

The bottom line is this: The labor market is the foundation of our economy. Job growth and confidence is the best and most sustainable way for our economy to recover. The present anti-business regulatory environment is pushing Initial Claims, a leading indicator on the health of the labor market, in the wrong direction.

But home loan rates, meanwhile, continue to remain at historic low levels. Though keep in mind, inflation is the arch enemy of Bonds and home loan rates, which means it can cause both to worsen. Both the Producer Price Index (which measures inflation at the wholesale level) and the Consumer Price Index were recently reported hotter than expected. If rates do start to rise, they will likely do so quickly.

This information is courtesy of Ken Allen from MetLife. You can reach Ken at 425-670-2418 or at krallen@metlife.com or www.KenAllen.com.

Looking for the Real Estate Market to Change???

nospam@example.com (Joshua Koffler) — Thu, 19 Aug 2010 15:35:11 -0700

If you have been wondering when or how the real estate market will change? Here is great article posted by the Seattle Times today that will give you good insight.

http://seattletimes.nwsource.com/html/businesstechnology/2012664543_apuseconomy.html

My opinion as I have stated in the past and will continue is to watch the job market!!! Good news is that if you are in the market to refinance or buy a home interest rates are very low.

Real Estate Market Update-

nospam@example.com (Joshua Koffler) — Mon, 16 Aug 2010 11:36:50 -0700

For the week of August 16, 2010 – Vol. 8, Issue 33

>> Market Update

INFO THAT HITS US WHERE WE LIVE Last Wednesday the National Association of Realtors reported the median price of existing single-family homes UP for Q2 in two thirds of U.S. metropolitan areas, or100 markets. This compares with only 26 markets with price gains in the same quarter a year ago. Experts say these figures show the federal tax credits helped stabilize home prices in the first half of the year. Nationally, the median price for single-family homes increased to $176,900 in Q2, UP 1.5% from a year ago.

The NAR also reported sales of existing single-family homes and condos for Q2 were UP 9.1% over Q1, hitting an annual rate of 5.61 million. That number is UP 17.3% from Q2 a year ago. With the tax credit gone, the NAR is forecasting a Q3 sales drop to a 4.55 million annual rate. But they do see sales coming back in the last three months of the year, to a 5.27 million unit annual rate. The NAR's chief economist added: "Prices in some areas remain below replacement construction costs, so even with an elevated supply of existing homes...we don't expect any consequential movement in home prices for the foreseeable future."

Freddie Mac's weekly survey showed mortgage rates staying at record low levels for conforming loans. But demand for purchase loans has dropped after the tax credit expiration, according to the Mortgage Bankers Association.

>> Review of Last Week

DIPPY... It was a week of "double-dip recession" fears, but when all was said and done, the economic recovery continued, albeit at a slower pace. The only dipping that occurred happened on Wall Street, as investors' worries sent the Dow Industrials down 265 points on Wednesday. By the time the markets closed Friday, all three major indexes had truly dipped -- from 3% to 5% for the week.

That Wednesday dip in the Dow was the delayed reaction to the results of the Fed meeting on Tuesday. The central bank kept the rate down at 0%–0.25%, but their policy statement raised investors' "double-dip" worries. The Fed said the economy isn't as strong as they thought it would be two months ago and they would begin buying Treasury bonds "to support the economic recovery." But in spite of Wall Street's jitters, the real economic data wasn't so bad.
Preliminary Q2 Productivity slipped a tad, but it's UP 3.9% over last year. The trade deficit in June grew more than expected, but exports dropped only slightly and are UP 17.7% for the year, a healthy sign for American companies. July Retail Sales were up less than expected, but when May and June upward revisions were included, the numbers beat expectations, UP 0.7% overall and UP 0.2% excluding autos. And those talking up a global double-dip recession were quieted when Germany's Q2 GDP showed a 2.2% expansion from the previous quarter, that country's fastest growth in two decades.
For the week, the Dow ended down 3.3%, to 10303.15; the S&P 500 was down 3.8%, to 1079.25; and the Nasdaq was off 5.0%, to 2173.48.

With investors seeking safety, the bond market benefited, with a big focus on Treasuries after the Fed's comments on Tuesday. The FNMA 30-year 4.0% bond we watch ended essentially flat for the week, down a scant 6 basis points, closing at $102.69. As noted above, national average mortgage rates remained in historically low territory for the eighth week in a row.

This market update is courtesy of Erica Major at Sterling Savings bank. Direct line is 206-355-8870.