The $8,000 tax credit is working it's magic. Buyer are getting off the fence and getting into the market. Which is great news!

But some Pierce County, WA sellers (specifically Bonney Lake, Sumner, Buckley, Orting, and others) need to be aware that even with this increase in buyer traffic, it is still a buyer's market. And to make matters worse, it is a declining market. Currently the NWMLS is tracking the rate of of decline at .9% per month.

So if you want to sell your home, it's not the time to say "the house down the street sold for X dollars, therefore, my home is worth that too." Because if the neighbor's home sold a few months ago, it's not. Current residential appraisal guidelines state the condition of the market; whether it's appreciating, or stable, or declining. And if the declining box is checked, banks expect that a time adjustment is made in the value of the comp. (for example, if a house sold in March for $299,950 then today's adjusted value would be $289,151. Four months x .9 = 3.6. $299,950 x .964 = $289,151 )

And if the buyer is using government financing (which 90%+ are these days) then the appraisal situation can get even stickier. VA appraisals stay with the property for 6 months. So if your first offer falls apart because of a low VA appraisal and you are unwilling to lower the sales price to the appraised amount- it will eliminate all VA buyers unless they have the cash to make up the difference between list price and appraisal price.

So the tough decisions sellers need to make are-

• do I really want/need/have to sell? 
• what do I have to do/can I do/will I do to make that happen?
• what will I do if the appraised value comes back less than the list price?
• am I willing to let a deal fall apart? Can I handle it?
• can I wait for another offer?

Thinking about the answers to these questions will help you decide if now is the time for you to sell your home or if it is better to wait until the market has stabilized.

If you have any questions about your home in south King County or north Pierce County, contact me.

Debi Braulik, Realtor, Keller Williams Realty

Cell- (206) 949-4785, email Deborah@KingPierceHomes.com

Fill out this form and I will send you a free list of foreclosures, bank owned homes, short sales, or other great deals in Federal Way, Edgewood, Milton, or any city you request! Each list is personalized and created from the MLS when it is requested.

Tacoma has over 600 homes that are bank owned, short sales, and under $200,000 so if you are interested in Tacoma, you will have to include a neighborhood (ie- Stadium District, Central Tacoma, UPS area) or geographical boundaries (Between North 6th and 12th) to narrow the search down.

Des Moines, WA home for sale close to downtown Des Moines. Just mere minutes from the Des Moines Marina, the waterfront park, shops, restaurants, and much much more.

 

 

 

 

 

 

 

 

 

This home has 3 bedrooms, 1.75 baths, is approximately 1340 square feet, and is on a quiet cul de sac with only 2 other homes. It would make a great first time home or a rental / investment home.

NWMLS # 29069882

If you would like to see this Des Moines home for sale (or any others), then please feel free to contact me. Debi Braulik 206-949-4785.  

Federal Way, Edgewood, Milton & Tacoma residents do you Tweet? 

As I sit here and listen to the media talk about Twitter, I realize in the last few weeks so many of my family members and friends have asked me what Twitter is. They have no idea. Not a single person in my immediate circle of family and friends Tweet.

As I realized this, the wheels began spinning in my head and I wondered if the use of Twitter is more of a regional thing? I have professional friends in Seattle that use Twitter. And I know some people in Tacoma that Twitter. Is the area in between these two cities a no mans land?

I would love to get some feedback from the residents of Federal Way, Edgewood, Milton, Des Moines, Auburn, Kent, Fife, and Tacoma. So please tell me, do you Tweet on Twitter? if so, what do you use it for?

Federal Way, Edgewood, Milton & Tacoma homebuyers can now use $8,000 immediately!

"Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment."

This is great news for people that haven't owned a home in 3 years or are first time home buyers in Federal Way, Edgewood, Milton and Tacoma!

The selection of available homes is at an all time high, interest rates are at an all time low, and home prices are at 2004 levels.

So if have been looking for a home in Federal Way, Edgewood, Milton or Tacoma, contact me. I'd be happy to help you take advantage of the government's $8,000 down payment.

For the complete article - click here for the Realtor.com article.

Federal Way home sales for April 2009 were quite healthy! In April, 41 home sales closed.   Of these 41 Federal Way, WA homes 31 homes were priced under $300,000, six were priced at $300,000 to $400,000, three were priced from $400,000 to $500,000 and one sold above $500,000.

Sale prices ranged from $72,900 to $565,000 with the average being $266,813.

Days on market ranged from 0 days (new construction presales) to 834 days with the average being 131 days. There were 11 homes that sold in under 30 days (only two of those were new construction).

Price per square foot ranged from $50.63 to $235.00 with the average being $139.28.

Square footage ranged from 840 to 3,215 with the average being 1960.

The sales price vs. the list price ratio ranged from 78.72% to 104.68%. And on average these homes sold for 93.93% of list price. Interestingly the home that sold for 104.68% of the list price was a home that sold in 14 days.  With the exception of two homes all homes that sold in under 30 days sold at full list price or above.

If you would like more information on Federal Way home sales statistics or current Federal Way homes for sale, please feel free to contact Debi Braulik at 206-949-4785 or email me.

 

Milton home sales for April 2009 were average with 4 homes closed.  (2008 saw 6 homes sold in April) Of these 4 Milton, WA homes all of them were priced at $265,000 or below.

Sale prices ranged from $58,000 to $265,000 with the average being $193,250.

Days on market ranged from 10 days to 197 days with the average being 80 days. You'd think the home that sold for $58,000 would have sold the quickest, but it took 84 days before it got an offer.

Price per square foot ranged from $36.69 to $196.53 with the average being $132.38.

Square footage ranged from 1,094 to 2,052 with the average being 1546.

The sales price vs. the list price ratio ranged from 82.04% to 100%. And on average these homes sold for 96.55% of list price. The home that dropped these averages is the home that sold for $58,000. It's SP vs. LP ratio was the 82.04%. If this Milton home had not been included the sales price vs. list price ratio would have been 98.10%. 

If you would like more information on Milton home sales statistics or current Milton homes for sale, please feel free to contact Debi Braulik at 206-949-4785.

Edgewood home sales for April 2009 were pretty steady with 7 homes closed.  Interestingly, none of these homes sold for more than $392,000. (As compared to the same period in 2008 where the highest purchase price was $649,000) Of these 7 Edgewood, WA homes six were priced at $300,000 or below.

Sale prices ranged from $175,700 to $392,000 with the average being $268,957.

Days on market ranged from 73 days to 246 days with the average being 182 days.

Price per square foot ranged from $107.66 to $205.53 with the average being $141.99.

Square footage ranged from 1,322 to 3,040 with the average being 1963.

Another interesting note was that the sales price vs. the list price ratio ranged from 95.05% to 105%. And on average these homes sold for 99.84% of list price. What this means for home buyers and sellers in Edgewood is in April there were not a lot of negotiations in the purchase price. 

If you would like more information on Edgewood home sales statistics or current Edgewood homes for sale, please feel free to contact Debi Braulik at 206-949-4785.

 

All winter I have driven by the Edgewood Fruit Stand. And every time I drove by I would notice that their sign said "See you in the Spring".

I was starting to get worried that perhaps it wasn't going to reopen. Especially since Sterino's closed.

But then today, as I drove past, I noticed that the sign had been updated! It now says "Open May 16th." Yeah. And they will have some free giveaways.

This is a great local fruit stand that features local farm grown fruits and vegetables. I'm looking forward to the fresh Pink Lady apples, strawberries, blueberries, corn, and squash. The fruit stand is located on Meridian Avenue across the street from the Edgewood Flower Farm.

Be sure to stop by to support this local business.

Edgewood Flower Farm is now open! But you'd better hurry- if you didn't pre-order, quantities are limited. They are open Fridays, Saturdays, and Sundays from 9:30am to 5:00pm. 

This farm, that has been open in Edgewood, WA since 1954, has the most gorgeous flower baskets! They are colorful, huge, healthy and have well thought out flower mixes. They have double begonias, impatiens, supertunias, and many more.

For more information, including directions to Edgewood and pricing, visit their website. It is www.edgewoodflowerfarm.com. But I recommend seeing them in person. :)