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seller: Market Trends - 08/06/09 01:16 PM
This graph shows the reduction of new construction inventory on the Eastside.  As you can see the trend is leveling off at about eights months of inventory based on pending sales.  Just about every trend is showing a leveling off over the last three months.
 
Even the Case Shiller index has leveled off over the last three months.  This takes us back to prices around June of 2005: (Index over last 12 months)
 
There was a dramatic increase in the prices of homes sold vs the for sale price.  This probably reflects the increase sales in higher price ranges … (0 comments)

seller: First Google… Now Yahoo... Here come the Relos? - 08/06/09 11:30 AM
Rumors where flying and people where making plans for years anticipating the wave of new Google employees.  Hundreds would move into town and into the corporate center in Kirkland. (See my blog from earlier)  When the economic climate changed so did Goggle's plans.  The migration of high tech, high paid new home buyers fizzled.
Now Microsoft to the rescue.   Enter the partnership with Yahoo, 400 Yahoo employees will be hired by Microsoft.  No one is sure where these people will move to... but we d know that Microsoft has reworked its relocation department. 
The real estate company that had an exclusive relocation … (0 comments)

seller: Shrinking new construction inventory on the Eastside. - 07/05/09 01:45 PM
This graph illustrates the dramatic decline of new inventory on the eastside.  Because of the lack of new permits being issued and builders concentrating on selling current inventory, this lack of new construction will put pressure on the overall market.
 

 
Other Market indicators:
We will continue to see prices stabilizing erasing concerns about buying a home only to see the value drop the new month. 
About 20 -30% of buyers are looking for new or like new homes, this will create higher demand for homes built after 2005 or 2006 and/or homes that have be recently updated.
The … (0 comments)

seller: A Reason For Optimism - 04/28/09 02:31 PM
HEADLINE: Baltimore Sun: Shortage Of New Homes Seen -- Credit Crunch Means Fewer Units Will Be Ready When Recession Eases
Analysts have been predicting a shortage on new homes in the Puget Sound area will start in September due to the lack of new construction permits being issued.
 Looking at this chart ... (Eastside - New Construction - Based on Pending sales)

...You can see that the months of inventory are shrinking.  And at this rate, we will get to a balanced market after September.  If it continues we will be in a Seller's market by early next year for … (1 comments)

seller: Kirkland Data & West of Market - 04/02/09 03:08 PM
For all of you who love data, here is some information about Kirkland.
The Case- Sheller index for January (released 3/31) still has values dropping about 3% a month for the Puget Sound area but the annual trend is slowing.
West of Market in Kirkland, WA as of April 2nd has about 56 homes listed for sale.  Prices range from about $480,000 to $4.9 million.
WEST OF MARKET DATA:

With nine pendings and solds over the last six months.

Here are the overall trends for South Kirkland:




New data for March will be out soon.
 
… (0 comments)

seller: First Time Buyer Tax Credit at a Glance - 03/26/09 11:05 AM
As agents we are now being asked "What is this tax credit for first time home buyers?"  Especially now that there are great deals and low interest rates.    Here is some great in formation I got from my Title agent at Commonwealth Tile and Escrow.
Tax Credit at a Glance
• The tax credit is available for first time home buyers only(or for those who have not purchased in the last three years.)
• The tax credit does not have to be repaid.
• The tax credit is equal to 10% of the home's purchase price up to a maximum of $8,000.
… (0 comments)

seller: End to Slump - Can You Say "Peak-to-Trough" - 02/26/09 12:34 PM
You are going to hear this phrase more and more as the housing market stabilizes.  It means from the top of the market to the point at which we no longer see declining numbers.
Moody's says home prices in the United States will hit their low point in the fourth quarter of 2009, with the Case-Shiller Home Price Index expected to show a 36.2% peak-to-trough decline. The peak was reached nationally in the first quarter of 2006.

The Seattle Case-Shiller Home Price Index from January 1989 until January 2009.
The peak in Seattle was June 2006. If you follow the … (0 comments)

seller: Google Where are You? - 02/19/09 05:38 PM

The Kirkland, WA Google Lakeview Office Complex.
The plan to build the Google offices in Kirkland started years ago.  It sounded great for everyone, especially the Eastside Real Estate Market.
The rumor was that Google had grown and matured as a company and now had 100's of middle mangers and directors.  They could not all make millions a year but they made good six figure incomes.  However, around San Francisco and Mountain View California, six figures doesn't buy much.  So the plan was to move some of this group to Kirkland where their salaries could buy nicer homes and schools … (1 comments)

seller: Ten myths for buyers and sellers - 01/26/09 10:17 AM
Barbara Corcoran on the Today Show talked about ten myths for buyers and sellers.  This is great information everyone.
Myths like:
The longer the house is on the market, the more you can negotiate.The sellers today are desperate.You shouldn't buy before prices have bottomed.And one issue I talk about:
Now's the absolute worst time to sell.Barbara says "... if you're a homeowner who wants to trade up, the loss you'll take on your current home will be more than offset by the bargain you'll get on the next one."
Hopefully, further information like this will take away more of the uncertainty in the … (0 comments)

 

Bill Blanchard

Kirkland, WA

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