Bremerton : Silverdale : Port Orchard : Poulsbo

I have been receiving a lot of interest in regard to how this year has faired over previous years in the Bremerton, WA area.  I thought I would do some research for the first six months of sold homes in Bremerton for the years of 2010, 2009 and 2008. 

This first chart shows the total number of sales in Bremerton, WA for the last three years. 

 

I think that the first time home buyer tax credit really helped the first six months of 2010.  June so far was the winning month when it came to total closings with a high of 88.  We are still seeing the effect when it comes to closing because of the extension of the closing date from June 30th to September 30th.  The homes that might have needed this extension most likely will close in July with the stragglers, those probably being short-sales will continue to trickle in. 

It will be very interesting to see how the year ends.  I don't have a crystal ball - will 2010 end up with a higher sold volume? Who knows?  The market has slowed a bit.

This second chart shows the list price and sold price figures for the homes sold in Bremerton, WA during the last three years of 2010, 2009 and 2008.  When you look at the numbers you will probably be doing a WOW! Look at the loss from 2008! 

 

 

Of course sometimes all this data just leads us to more questions.

Hot new price! This home is move-in ready with all the hard work done. Newer roof, newer cement board siding. new heating and newer windows. Remodeled with some some amazing architectural detail. Check out the homes private web site here - http://www.2221soundviewavene.epropertysites.com/

We all work in areas where there are different laws governing lots of different aspects to a home purchase and sale.  In the Puget Sound area we have several homes that are on septic systems.  In Kitsap County there are over 60,000 on-site sewage systems.  For years and years these systems were pumped or not pumped, inspected or not inspected all depending on the real estate agents involved in the transaction and the documents they used. 

Then along came the State of Washington and State Health rules (Chapter 246-272A WAC) requiring the local health jurisdiction to ensure that all owners of onsite sewage systems have their system inspected and evaluated on a regular basis, and prescribe an inspection at the time of property transfer as one of the
options to attain these inspections.

I totally agree that something had to be done with the septic inspection process.  The days of permit, install and done are over.  There must be some checks and procedures to protect all. 

In Washington each county takes on the responsibility of tracking a process. 

In Kitsap County where I work the process is fairly easy.  The Northwest Multiple Listing Service has procedures spelled out in document form that take the guess work out of what we need to do in order to comply with the state law.

We have a general septic addendum that outlines what type of OSS (on-site sewage system) the property is serviced by, that the seller represents that, to the best of their knowledge, the OSS is in working order and doesn't violate any regulations or have any material defects. 

This document supersedes any provisions in the purchase and sale agreement except for the provisions of a county specific septic addendum.

Here is where local area Brokers seem to have a learning curve.  In Kitsap County the Kitsap County Board of Health Ordinance 2008-01 Section 13.D sets out in more detail the process that must be completed prior to the close of a home sale transaction. 

It is a pretty straight forward form and details what the seller must do.

1. Specify type of system
2. Deliver Evaluation Report (from the Health Officer of Kitsap County Health District)
3. Deliver to Buyer maintenance records, if available.

If the seller has no evaluation report listed in item 2 they must complete an application, inspection and evaluation with the Health Department.  The process is very simple and spelled out in simple terms on the addendum and on the Kitsap County Health Department site.


Why this process is so difficult for Brokers to understand I just don't get.  I have had to "argue" with Brokers what the process is over the last few transactions.  This is a process that really should be done at the time the home is listed for sale.  Why we don't just do this all up front is in my mind a disservice to our sellers.  I know the reason is probably one of funds.  Yes, it costs to process this form with the county.  Yes, it costs money to pump the tank.  That is why this process is so hard for some Brokers to understand.  They don't know how to get their sellers to spend money prior to close. 

I just want other Broker's to understand the law and conform to it.  I am tired of having to educate other Brokers about the process when I write a purchase and sale agreement.  It is our responsibility to understand these documents and council our sellers.

Kitsap County has some great information available on their web site.  I have had to on more than one occasion send these links to other Brokers in the area to make my point.

 

INSPECTION AND EVALUATION OF ONSITE SEWAGE SYSTEMS FOR PROPERTY CONVEYANCE
FREQUENTLY ASKED QUESTIONS

 

Onsite Sewage Program

 

 

Mike Rowe learns how to clean a septic tank.

Concerts in the Park - continues

Evergreen Rotary Park

Today - Tuesday - 6-8PM



Cowboy Buck & Elizabeth
24th Annual Festival of Arts for Children
Free hands-on art activities
Spoinsored by the West Sound Arts Council

 

 

Evergreen Rotary Park - 1400 Park Avenue Bremerton - Evergreen District

• 10 acre
• 1,900 feet of shoreline
• 1 group shelter
• 6 shelters
• 39 picnic tables
• 4 BBQs
• 2 half-court basketball
• Boat launches
• Sand volleyball court
• 75 parking spaces

Evergreen Park is the city's premier park with the highest use rates. The location is just amazing. I love just walking the trails and being able to just sit and watch people, birds and weather.

If you need a place for a family picnic this is the place. There are 5 shelters and 39 picnic tables. The park encompasses 10 acres and had 1900 feet of shoreline. And can you believe - A boat launch!

If you want to BBQ there are 4 located at Evergreen Park. If you want to have some games you could arrange to have a volleyball tourney with friends on the sand volleyball court. Or just shoot some hoops with your kiddos at the 2 ½ court basketball courts.

For the younger kids there is a huge play area with lots of climbing and imagination equipment. Plenty of parking (75 spaces) and if you need you can reserve a shelter by calling the Bremerton Park and Recreation department at (360) 473-5305.

 

I am sure you have heard all the doom and gloom from a million different news reports concerning the lending industry mess, how several loan programs once available are no longer, how zero down loan programs are almost non-existent and how hard it is right now if you have little to zero money available for a down payment. 

But wait; are you a military member or a veteran?  If you are the news isn't as bad.  With your VA Guaranteed Home Loan benefit you can still obtain a loan with no down payment and a fixed interest rate that is as good as or better than a conventional mortgage rate.  This is the time for a VA Loan! What a great benefit to those of you that have served our country!

 

 

What is a VA Guaranteed Home Loan?

 

Many have the misconception that the military is the organization loaning the money. No they are not. Your VA Guaranteed Home Loan will be made by a private lender, such as your bank or a mortgage company of your choosing that has VA lending approval. 

The guaranty means the lender is protected if you fail to repay the loan.  This is also why you will not have to pay private mortgage insurance (PMI) for a zero down loan (if you could find one).  Normally a lender would require a down payment and/or PMI to obtain a loan, since the VA Home Loan has a guaranty which replaces these you will be able to obtain your loan without, but with the same financial terms as if you had made a down payment.  The risk is removed for the lender when the VA gives them that guaranty.

 

Of course you still must meet income and debt requirements, your credit reports will be used and if there are items in your history that are derogatory you can be denied a loan even though you have your Certificate of Eligibility.  The VA cannot demand a lender make a loan to you that would violate their lending practices. 

Lenders also must comply with the VA rules and policies when it comes to income and credit standards.  Just having the benefit is not enough, you must be credit worthy. 

If a lender is unwilling to approve you for a loan the only thing the VA can do is suggest that you try other lenders. 

 It could just be the perfect time for you to purchase a home with your VA benefits.  Interest rates are at all time lows and prices in the Kitsap area are amazing.  There are some awesome deals out there.  Now, remember that the housing market isn't moving as fast as it was years past, so you must be able to stay in this home longer than that 3 yeas.  So, if you have a plan to be here longer you just might want to jump at these low home prices. 

Week fifteen- A weeks worth of market data for the Port Orchard real estate community. Here is the real estate market data between Monday, July 19th through Sunday, July 25th.

Each week I will give an update that will include the previous week, Monday through Sunday. Might be fun.

Hope you have a great week! If you need any real estate help just let me know - call the office 360-830-6195, or my cell 360-990-1433 or send a text to 360-990-1433 or email me. I would love to help you with your real estate needs.



Port Orchard Real Estate Market

Residential homes on the market - 566 [up 17 from last week]

Pending this last week - 13 [down 15]

Sold/Closed this last week - 10 [down 8]

Looks like the ending of the tax credit is going to start showing in the weekly stats.

Here are is Port Orchard's housing market for the last 7 days - new listings and pending, pending inspection.

During the month of June there were 12 homes that sold in Silverdale.  These Silverdale homes actually had a transfer of home ownership. Contracts complete and Lender funds available. 

Once all the I’s were dotted and the T’s crossed there where deeds recorded at the Kitsap County courthouse that transferred the property into the new home owner’s name!

If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site. There you can find definitions and explanations of the home buying process for Port Orchard Washington.

 

Let’s look at those 12 Silverdale homes -

Average List Price

• $340,044
• $164 per sq ft

Average Sold Price

• $312,804
• $151 per sq ft

The average sq ft of these 12 Silverdale homes was 2078 sq ft. These homes spent an average of 93 days on the market (DOM) The list to sale ratio for these homes was 91.98 percent. What that meas is that buyers offered  91.98 of what the seller requested.

Not a bad time to purchase a home in Silverdale, Washington.  Prices are down, interest rates are at an all time low you might want to look at what it means to you.

What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds. I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful.

 

If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis. If you would like to purchase a home in the Kitsap County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

 

 

“Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed."

Bremerton WA :: Farmer's Market from Jo Soss on Vimeo.

I am sorry I am a little late on this one.  What a great idea to provide a free program for the area youth! This is like having a free "day-camp" program!  We have some amazing parks in Bremerton with lots of equipment and with the weather the last couple of weeks I bet this is just a blast! 

Remember that this is not a substitute for a daycare option and guardians of younger children should be available at the park location. 

The Bremerton School District even serves a FREE lunch at noon! How cool is that! I so hope there are lots of children attending!

See this flyer for more detailed information. Let me know how it is! I would love to hear your comments!

 

 

2221 Soundview Ave NE - Website

$149,000

Single Family Home For Sale

Main Features

2 Bedrooms 1 Bathroom Interior: 750 sqft Lot: 7,840 sqft

Location

2221 Soundview Ave NE Bremerton, WA 98310 An eclectic home in desirable Manette to bring out the romantic, eclectic in you! Virtually restored over the last 12 years w/attention to every detail. Superior residential metal roof that far outlasts conventional roofing, not to mention being environmentally friendly! Cement-plank lap siding - the most popular siding in America today because of its strength, beauty and durability. Vaulted ceilings, Eco-heaters, painted wood floors and attention to every detail. You will find the finish work of the remodel very aesthetically pleasing. The home also features several banks of specialty windows. All energy efficient white vinyl. If you are a gardener you will love this blank canvas. Plant some vegetables on the upper level sunny area or if you would rather lounge around you have a great place to place a Gazebo and maybe a fire pit for some quiet relaxation. All this and just minutes to the Ferry for an easy relaxing commute to Seattle if that is where you work.

During the month of June there were 88 homes that sold in Bremerton. [zip codes: 98310, 98311, 98312, 98314, 98337]. These Bremerton homes actually had a transfer of home ownership. Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages.

Once all the I’s were dotted and the T’s crossed there where deeds recorded at the Kitsap County courthouse that transferred the property into the new home owner’s name!

If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site. There you can find definitions and explanations of the home buying process for Bremerton Washington.

Let’s look at those 88 Bremerton homes -

Average List Price

• $217,283 [May- $199,895 -April- $197,429 - March -$202,739 - February -$220,258 - January -$203,640 December -$224,396]
• $128 per sq ft
  

Average Sold Price

• $209,182 [May-$195,044 - April -$192,860 - March -$198,231 - February -$213,465 - January -$201,166 - December -$218,171 ]
• $123 per sq ft
  

The average sq ft of these 88 Bremerton homes was 1701 sq ft. These homes spent an average of 108 days on the market (DOM).

The list to sale ratio for these homes was 96.27 percent. What that meas is that buyers offered 96.24% of what the seller requested.

What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds.

I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful. If you would like to find out the value of your home please feel free to contact me via phone or email.

I would be more than happy to supply you with a FREE Market Analysis. If you would like to purchase a home in the Kitsap County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

 

 

“Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed"

Does a closing date on a contract mean anything? Do you take it seriously? What does it mean to all of the parties involved? What does it mean to the buyer, the seller, the lender or even escrow? When I write a contract I have usually been in contact with lenders and escrow personnel asking what their work load is at the present time.

From the very beginning of my career deadlines have been very important to me. I have always made sure my clients know what "time is of the essense" meant and that it wasn't just a "saying". I would educate them on what our "computation of time" pargargph in our purchase and sale agreement meant and wanted them to take it as serious as I did.

I see this as one of the most important function of a licensed real estate agent. There are deals that have been lost because agents didn't abide by the contractual dates stated on acceptance.

What has always bothered me with this part of the home buying process is there are those involved that don't take the contract dates seriously.

In 2003 I went to work for First American Title/Escrow in Yucca Valley, California. Having come from a real estate agent background I knew a lot about the contract. When I started to question why we were not trying to meet the deadline for closing per the contract I was told that date was "an estimate" - I thought to myself - "AN ESTIMATE!" That isn't an escrow call or a lender call! I soon found out that we would just advise an agent to process an addendum to extend the contract.

Sure, it wasn't totally an escrow issue. Escrow being the final destination in most transactions is rarely given the time to complete their tasks. The issue would arise based on lender requirements (in a non-cash transaction). If the lender couldn't get their documents to escrow on time, escrow couldn't preform within contract. So many times the lender has a total different idea on what date they need to meet. Many times lenders have told my buyers what their definition of closing is and usually it is not what the legal meaning of the word really is for the State of Washington. Of course that is a topic for a whole other blog post.

Lately, I have seen the parties to a transaction act so flipant when it comes to the contract closing date. In my last 5 transactions with 3 different lenders it has been the lender that just couldn't preform. All of these lenders have pre-approved the buyer prior to a contract being written. All of these lenders had met the buyers in person.

On a couple of occasions the lender has laid blame on the buyer. The buyer didn't get all their paperwork to them in time, the buyer did not sign this or sign that, the buyer didn't send in bank statements, or their W2's. These kind of excuses just tick me off! If you are a lender and you have not received these items in the first 5 days after meeting with my client - CALL ME - I will help you! I have been known to get the documents from a buyer and drive them to a lender. Don't blame my buyers. Some of them are new to the process and really don't understand unless we help them!

Now, don't get me wrong there are lots of people in the business that do play by the rules. I just don't understand why everyone doesn't.

I see the extension of most contracts as an excuse - excuse that someone didn't do their job. The only time an extension should be acceptable is when something happens that is out of everyones control at the time a contract is written. We may not know there are several title issues until we are several days in.

I just get irritated when I have to write an addendum to extend a closing date when I have done my job, my clients have done theirs, the other buyer/seller has done theirs as well as their agent. I am tired of others not preforming knowing that if the seller wants to sell and the buyer wants to buy they will all sign an extension (or will they). Why take the chance?

Week fourteen- A weeks worth of market data for the Port Orchard real estate community. Here is the real estate market data between Monday, July 12th through Sunday, July 18th.

Each week I will give an update that will include the previous week, Monday through Sunday. Might be fun. Hope you have a great week!

If you need any real estate help just let me know - call the office 360-830-6195, or my cell 360-990-1433 or send a text to 360-990-1433 or email me. I would love to help you with your real estate needs.

 

Port Orchard Real Estate Market

Residential homes on the market - 549

Pending this last week - 28

Sold/Closed this last week - 18

Here is the Port Orchard housing market for the last 7 days - new listings and pending, pending inspection.

The "Concerts on the Boardwalk" series starts tonight!

For the next four Friday nights you can spend an amazing time down on the water with music and amazing views.  The concert series is sponsored by the Bremerton Main Stream Association and is one of the most popular. If you want you can tie up at the new Bremerton Marina too.  The Bremerton Boardwalk area is one of the most fun in the Kitsap County.

Tonight's concert by Jr. Cadillac is brought to you by sponsor West Hills Auto Plex.

 

With the weather it should be a gorgeous night!

 

 

 

During the month of May there were 63 homes that sold in Port Orchard. These Port Orchard homes actually had a transfer of home ownership. Contracts complete and Lender funds available. 

Once all the I’s were dotted and the T’s crossed there where deeds recorded at the Kitsap County courthouse that transferred the property into the new home owner’s name!

If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site. There you can find definitions and explanations of the home buying process for Port Orchard Washington.

 

 

 

Let’s look at those 63 Port Orchard homes -

Average List Price

• $246,917 [April $246,162 -March -$245,815 February -$241,177 January - $245,351]
• $136 per sq ft

Average Sold Price

• $244,070 [April - $243,425 March -$241,747 February -$227,483 January -$239,603]
• $134 per sq ft

The average sq ft of these 63 Port Orchard homes was 1810 sq ft. These homes spent an average of 92 days on the market (DOM) The list to sale ratio for these homes was 98.84 percent. What that meas is that buyers offered 98.84 of what the seller requested.

Not a bad time to purchase a home in Port Orchard, Washington.  Prices are down, interest rates are at an all time low you might want to look at what it means to you.

What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds. I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful.

 

So what is the absorption rate at this point in time? Check here for the definition of absorption rates – Absorption Rates

 

If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis. If you would like to purchase a home in the Kitsap County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

 

 

“Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed."

 

During the month of May there were75 homes that sold in Bremerton. [zip codes: 98310, 98311, 98312, 98314, 98337]. These Bremerton homes actually had a transfer of home ownership.

Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages.

Once all the I’s were dotted and the T’s crossed there where deeds recorded at the Kitsap County courthouse that transferred the property into the new home owner’s name!

If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site. There you can find definitions and explanations of the home buying process for Bremerton Washington.

 

Let’s look at those 75 Bremerton homes - Average List Price

• $199,895 [April- $197,429 March -$202,739 -February -$220,258 January -$203,640 December -$224,396 ]
• $123

Average Sold Price

• $195,044 [April -$192,860 March -$198,231 February -$213,465 January -$201,166 December -$218,171 December]
• $120

The average sq ft of these 75 Bremerton homes was 1631 sq ft. These homes spent an average of 112 days on the market (DOM). The list to sale ratio for these homes was 97.57 percent. What that meas is that buyers offered 97.57% of what the seller requested. What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds. I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful. If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis. If you would like to purchase a home in the Kitsap County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them. “Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed"

Week eight- A weeks worth of market data for the Port Orchard real estate community. Here is the real estate market data between Monday, May 31st through Sunday, June 6th.

Each week I will give an update that will include the previous week, Monday through Sunday. Might be fun. My new IDX site (home search site) went live a couple of weeks ago, so I am able to embed in each post some new data.

Hope you have a great week! If you need any real estate help just let me know - call the office 360-830-6195, or my cell 360-990-1433 or send a text to 360-990-1433 or email me. I would love to help you with your real estate needs.

Port Orchard Real Estate Market
Residential homes on the market - 545
Pending this last week - 10 [down 4]
Sold/Closed this last week 8 [down 12]

The Bremerton Farmers Market is now open! Every Thursday, 4-7PM, at Evergreen Park.  Why not go over and connect with all the local farmers and community members.  There is more to a farmer's market than just produce, you will find many craft booths too.   

Check out the Bremerton Farmers Market website details on vendors, live music performances and more!

 

 

 

Do you live or work in the City of Bremerton?  I do.  I enjoy keeping track of what is going on in Bremerton so I visit the City's website and I also am a subscriber to email updates. 

Today I received an email announcing the release of the updated Bremerton e-News!  The change is very nice with a new format and more visually pleasing.  There is more more information listed with photos and links to other areas of interest on about the local area.  You can go to the City of Bremerton's website to sign up or click here and enter your email address Bremerton e-News