Puget Sound Real Estate: Washington: Bremerton: East Park

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"

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

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Week two - A weeks worth of market data for the Bremerton real estate community. Here is the real estate market data between Monday, April 19 through Sunday, April 25th.

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 this last week, so I am able to embed in each post some new data. I thought this week I would put the listings that came on the market in the last 7 days.

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.

Bremerton Real Estate Market Residential homes on the market - 501

Pending this last week - 44 [21 MOREs]

Sold/Closed this last week 9

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

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During the month of February  there were 42 homes that sold in Bremerton.   [zip codes: 98310, 98311, 98312, 98314, 98337].   That is the same number as January which was 40 homes less than December 2009. Not a good start to 2010!    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 42 Bremerton homes -

Average List Price

• $220,258 [$203,640 January $224,396 December]
• $125

Average Sold Price

• $213,465 [$201,166 January $218,171 December]
• $120

The average sq ft of these 42 Bremerton homes was 1781 sq ft. These homes spent an average of 113 days on the market (DOM).

The list to sale ratio for these homes was 96.91 percent. What that meas is that buyers offered 96.91% of what the seller requested.

Not a bad time to purchase a home in Bremerton, Washington. Prices are down, interest rates are at an all time low and with the incentives from the government you might want to look at what it means to you.  In fact it is a great time if you are a 1st time home buyer and qualify for the $8,000 tax credit – CREDIT! NOT loan! Read the information I have written about the program here

It is finally official. The hombuyer’s tax credit has been extended to April 30, 2010

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

Using the formula and only including active and contingent homes on the market the absorption rate for February would be 10 months – ouch! We had been down to 5 months in the last quarter of 2009.  Of course remember we are looking at a trend, so as we go through 2010 we will get a better picture.  Hopefully, low number of closings in January is not a trend.  If we included the pendings the absorption rate would jump to 13 months of inventory!

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."

Similar Posts

• Port Orchard WA Real Estate | February Homes Sold 2010
• Bremerton Real Estate | February Homes SOLD

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

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As a first time home buyer $8,000 can be a lot of money.  Depending on your location and what the typical first time home buyer is in your area $8,000 can be a HUGE incentive or one that just barely makes a dent in any type of scenario. 

I don't sell in California and in fact I don't sell in Seattle where the prices for first time home buyers is considerably more than what a first time home buyer can purchase here in Kitsap County.  It is true that with the real estate correction over the last 3 years we do have homes in the area that are in the low $100,000 range. 

Our income levels are lower here and so the first time home buyer here was being helped tremendously with the $8,000 tax credit.  We have a large percentage of military personnel and a large percentage of military personnel marry younger and start families younger.  This sometimes has impacted their buying power.  They have steady, good paying jobs with benefits but might have over the last several years incurred some debt that can be washed out with this incentive. 

Who Qualifies - $6,500 Extended Credit

• Current home owners going under contract to purchase a home between November 7, 2009 and April 30, 2010 (closing on or before June 30, 2010), who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight. (I am sure more detailed information will be forth coming) IRS publications I am sure to be released. Speak with your Tax Adviser prior to filling.
  

So what does this new "expansion" to the extended tax credit mean to local Kitsap County home sellers or "step-up" buyers?  You know what cost are associated with selling your home.  Check out this post I wrote a couple weeks ago to refresh your memory.

Kitsap County Real Estate - Sellers Closing Costs - WHAT

Your $6,500 tax credit could help you with the following charges when you sell your home

• Real Estate Fees - remember these are always negotiable but in our market area the average range is between 3 and 6 percent of the sales price.
• Excise Tax - currently you will be paying 1.78% of the sales price to the state for selling your home.
• Settlement charges like title policy fees and escrow closing costs.

This new incentive just might be what you are looking for to help you to that next dream home.  Remember how fun it was to be a first time home buyer?  Well, I can tell you that to make a move up is just as fun and almost more exciting because your possibilities are usually more.  The move-up home is usually one that enables you to have the items that you only could dream about in your first home.

If you have any questions on selling your home in this market just give me a call, or send an email, or text me with your questions!

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

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"Equal Housing Opportunity"

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I couldn't believe it when I received a post card from one of my real estate network members.  I was like WHAT! Already!  You know that in 2007 there were changes to the daylight savings time system, in fact the first changes in 20 years. So drum roll please....

In 2009, DAYLIGHT SAVING TIME  is from 2:00 a.m. (local time) on March 8th until 2:00 a.m. (local time) on November 1st.

Wow!  can you say early!  I am not a fan of daylight saving time, never have been what can you do!  So remember to set your clocks ahead or you will be late for your Sunday plans!

I did however think that it would be cool because I gets my husband here one hour sooner!  He is coming home on leave for a couple of weeks and well every hour counts!

Oh and ps - there is no "S" after saving...it is not savings time!

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

View all posts by Jo Soss →

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"Equal Housing Opportunity"

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I have several first time home buyers at the moment and we have all been talking about the new First-Time Home buyer Credit.  This is the new 2009 First-Time Home buyer Credit.  The $8,000. tax credit that is a credit and NOT a loan.  This credit DOES NOT have to be paid back and as everything there are exceptions.  The exceptions are...  

• Must use the home as a principle residence for at least three years or face recapture of the tax credit amount. Certain exceptions apply. Ask your tax adviser or read Form 5405
  

So back to the "Who is Eligible?".  You can claim the tax credit if you are a first-time home buyer.  Have you ever purchased a home?  If the answer is YES you STILL MIGHT BE ELIGIBLE.   The first-time home buyer must be able to state you did not own any other home during the past 3 year period that would end on the date of your new purchase.  So see you may be a first-time home buyer even if you have owned a home.  It is home-buying "do-overs"!

1. You must have purchased your home after January 1, 2009 and before December 1, 2009 to claim the tax credit.
2. Sometimes it is easier to decide eligibility if you know who CANNOT clam the credit
3. Your modified adjusted gross income is over $95,000 or $170,000 if married filing a joint return.
4. You are a nonresident alien.
5. You acquired your home by gift or you inherited it.
6. You purchased your home from a person you are related to.

There are other exceptions but for your local Kitsap area they don't mean much.  You can find them on Form 5405.

Looks like there will be lots of first-time home buyers out this spring which in turn will help move that "move-up" market in Kitsap County.  Of course you will want to verify all of this with a tax consultant or go to the IRS web site and look for IRS Form 5405.

I have some ideas about this credit for local buyers so if you are interested please send me an email for more discussion!

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

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Sometimes you just have to have new.  I have a few buyers that are all about the new and so I have seen several new home neighborhoods over the last several weeks.  New construction is a passion of mine and it use to be my real estate "niche".  I have participated in the selling of over 225 new construction homes since I began selling new construction in 1996.  That may not be a large amount for the big builders but it gave me the experience and  the knowledge to know my way around the new construction plat selling arena. 

I also have an extensive background in the building material field which has also given me the extra knowledge that has helped me educate my new construction buyers.  I know the terms, header, truss, stud, hip and joist. I use to be able to tell you what type nail would be used for different applications. Anyway, I know my way around a construction site. 

Having the knowledge helps me educate my new construction home buyers so that they feel comfortable with their buying decision.  I have sold new homes to buyers from other parts of the country using video and photos along with drawings and floor plans.  The knowledge I can give a buyer that is thinking of purchasing a new construction home is vast. 

Currently in Bremerton there are 99 new homes listed on the NWMLS site.  Some of these homes are complete and vacant ready for you to move right in and some of these homes are at different stages of construction.  There are also several presale homes available with a construction time between 90 and 180 days. 

I have included town-homes in my data. 

There are 5 homes that are two bedrooms with 1587 average sq ft.  These homes have an average list price of $247,960.

There are 73 homes that offer three bedrooms with 1816 average sq ft.  These homes have an average list price of $276,784.

There are 21 four bedroom homes that boast an average of 2293 sq ft.  These homes have an average list price of $341,352.

I am unable to show you these photos due to my NWMLS rules and regulations, however if you would like to see them all just send me an email and I will email you a link to all 99 homes directly from the NWMLS web site.

If you want to search for New Construction Homes you can search here for free without registration.

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

View all posts by Jo Soss →

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Copyright © 2008 - 2012 Homefront Realty

Washington State Required Disclosures

"Equal Housing Opportunity"

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Authored By: Jo Soss : WestSoundLive.com

The Definition of Absorption Rates:

Number of weeks it takes to sell the current inventory at the present rate of sales. Using absorption rates can help you define markets. My definition breaks down like this…

Normal Market - Between 5 and 6 months of inventory. (21.65 - 25.98 weeks)

Seller’s Market - Between 1 and 4 months of inventory. (4.33 - 17.32 weeks)

Buyer’s Market - 7 months and higher. (30.31 plus)

Now remember that absorption rates just track trends and isn’t an exact science! Here is the absorption rate trend for 2008.

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Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

View all posts by Jo Soss →

Subscribe

Copyright © 2008 - 2012 Homefront Realty

Washington State Required Disclosures

"Equal Housing Opportunity"

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