A recent article published on Forbes.com lists 25 Cities Where Home Prices are Still Tumbling.
Included in this list is our State Capital, Olympia; Tacoma, and Bremerton/Silverdale.
I am feeling somewhat vindicated. I've been arguing with several area agents/brokers here in Kitsap County WA for nearly a year now as to whether or not our local real estate market has finally hit bottom. I have been the lone dissenting opinion that home prices have not fully tanked. I think we're close, but definitely not there just yet.
While certainly there are isolated pockets or niche markets within Kitsap County WA that have enjoyed improved valuations over the past year or so, I think that most areas are still experiencing price drops or stagnant flatline values at best.
Predicting the bottom of the real estate curve is a very difficult thing to do. Typically, by the time you see actual signs of improvement, it's been on the rebound for several months already.
This article from Forbes.com illustrates once again that real estate is truly local. All the more reason to rely upon the knowledge and expertise of a local licensed real estate professional to successfully achieve your home buying or selling goals.
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Rich Jacobson is a licensed real estate professional with Keller Williams West Sound, providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, SoundBiteBlog, Crabbing in the Hood, or e-mail: kitsapagent@gmail.com
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