Happy New Year Everyone from Puget Sound, WA. (Hood Canal and Case Inlet)! School in North Mason and Grapeview is 2 hrs. late, so we stayed up late and built a snowman. My 8th grade sun found the pinecones for the mouth and eyes. Today is warmer and the snow is going fast.
On the real estate action, I am working this week with 3 buyers. All are looking to get a great buy on a home or land which is either a short sale or a foreclosure. I expect to write at least 1 offer this week, the first since November. To keep updated on the market, I check out the latest bank owned listings and keep in touch with lender services. One five acre riverfront parcel is being reduced to $45,000! I have also just listed a home on the LakeLand Village Golf Course Division 12 (the new division) in Allyn,WA for $238,000. This is a 3 bedroom 2 bath contemporary home situated on a teebox with a great view down the fairway! Included is the golf cart and hot tub. Soon I will have a brokers' open house to show it off.
The national news this morning explained that buyers should take warning and plan to buy and hold a home for the next 2-5 years. A strategy of flipping a home quickly may not work well in the market right now. Take care not to get into payments of 50% of your income or more because so many people have run into trouble making the payments. The housing crisis may be lessening, but it is not over yet. Luckily in the Seattle market, with strong employment, home prices have only fallen 10% in 2008, which is much better than San Francisco's 30% drop. Stay tuned for more.
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