Bremerton : Silverdale : Port Orchard : Poulsbo

During the month of October there were 68 homes that sold in Bremerton.  That is 14 homes less than in September.  Seems odd since the NWMLS has reported such a surge in October Puget Sound wide due to the then planned end date of the first time home buyer tax credit.  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!

I can get lost in stats.  They aren't much fun and they really are boring to write about but they still fascinate me.  I can spend hours doing different types of searches on the NWMLS (NorthWest Mulitple Listing Service) site that us agents use to track and compare homes in the area.  I search by price, by square footage, by area and find it fascinating to compare years or areas. 

In our area of Bremerton we have seen some huge changes in price over the last couple of years.  Yes, Bremerton home owners have lost a significant amount of equity and in some circumstances we probably have neighbors that owe more on their home than what they can sell it for.  Of course this is a cycle and as cycles go we haven't been hit as hard as other areas of the country.  Some statisticians have said there will be areas of the housing market that will totally recover by 2014 and some not until 2034.

I think those areas that hit the ultimate highs will have a longer recovery period. In the Bremerton area we of course had some good years but remain an area that has solid employment and where home-ownership still was reachable by the younger generation.  In some areas of King County a first-time home-buyer price was in the high $300,000's. 

I have sold several homes to first-time home-buyers this year who qualified for the $8,000 first-time home-buyer tax credit. 

According to the Puget Sound Business Journal on September 17th, the Internal Revenue Service reports that 26,000 residents of Washington state have taken advantage of the $8,000 first-time homebuyer’s credit offered by the federal government.

Here are some stats - just because

Bremerton Homes Sold August and September 2009
Average List Price:  $227,490
Average Sales Price:  $221,220
The average square footage of the property was 1756 and the average Days on Market - or the amount of time it took to sell the property was 123

Bremerton Homes Sold August and September 2008
Average List Price:  $256,277
Average Sales Price:  $250,570
The average square footage of the property was 1733 and the average Days on Market was 126

Bremerton Homes Sold August and September 2007
Average List Price:  $278,129
Average Sales Price:  $277,099
The average square footage of the property was 1760 and the average Days on Market was 78

Bremerton Homes Sold August and September 2006
Average List Price:  $277,908
Average Sales Price:  $277,099
The average square footage of the property was 1812 and the average Days on Market was 67

During the month of July there were 95 homes that sold in Bremerton.  (That is 17 more sold homes than in June.)  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!

Not a bad time to purchase a home in Bremerton, Washington.  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

• $8,000 First Time Homebuyer Tax Credit | Who is Eligible in Kitsap County
• It's Official - 1st Time Homebuyers Receive $8,000 Tax Credit Windfall!
• $8,000 First Time Homebuyer Tax Credit | Want your money Now?

Check out some of Kitsap County Real Estate Market Data here - Kitsap County Real Estate Market Data FYI

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.

Bremerton Real Estate 2009 Market Reports

• Bremerton Real Estate | February Homes SOLD
• Bremerton Real Estate | March Homes SOLD

Authored By: Jo Soss : WestSoundLive.com

Check this out from Bremerton’s Mayor Bozeman’s October Newsletter….

Bremerton Housing Authority Receives 20 Million Dollar Grant
Congratulations to Executive Director Kurt Wiest and the Board of the Bremerton Housing Authority for being awarded a Hope 6 grant of 20 million dollars to be used in the redevelopment of the Westpark Housing Community. Only five grants were given out by HUD throughout the country. These funds will allow the Housing Authority to move ahead with the redevelopment of the 60-year-old low-income housing community. New housing and support services will be built in the next five years. This has been a goal of mine since I was elected seven years ago.

If you are not aware of the WestPark Sub-Area Plan, you can read all about “Re-Envisioning Westpark” at the City’s website.  (Westpark Sub-Area Plan)  This project is so exciting and fascinating to me.  Located just off Highway 3 on Kitsap Way, you know the exit where Denny’s and DQ are.  Right across from the newer Fire Station #2 located at 5005 Kitsap Way. 

Westpark was originally constructed in 1941 as temporary housing for shipyard workers during the time that was World War II and Bremerton played an important roll in keeping the Navy prepared.  Westpark today is owned and operated by the Bremerton Housing Authority.  The “re-design” of Westpark was envisioned in 2006 with the Westpark Sub-Area Plan and was adopted per Ordinance 4998 in February 2006.  The Sub-Area Plan is the development standards for the transformation.  Click on the below links to read about all the exciting projects!

• I. Introduction
• II. Public Process & Comp. Plan Consistency
• III. Westpark Sub-Area Plan
• IV. Zoning & Development Regulations
• V. Design Guidelines

Westpark – from what some would call “slums” to high quality design!

From the City of Bremerton’s Website: 

Westpark is envisioned as an urban mixed-use, mixed-income, pedestrian oriented community. In the new Westpark, a variety of types and styles of housing will meet the needs of a range of income groups, and retail and commercial opportunities will satisfy everyday shopping needs.

The Bremerton Housing Authority's website has posted the following information about community meetings that are now in progress.

Community meetings are scheduled to discuss the changes.  They will be on Thursdays, September 25, 2008 running through October 30, 2008 from 6:00 – 7:30 pm at the WP Community Center at 76 Russell Rd, Bremerton.

The 82-acre Westpark site is located in West Bremerton, bounded by Kitsap Way on the north, Oyster Bay Way on the east, and State Route 3 on the west.

Authored By: Jo Soss : WestSoundLive.com

It is the little things of an area that always intrigue me.  Since I moved back to Bremerton and restarted my real estate career with blogging I have wanted to take a picture of the "Welcome to Bremerton" sign that greets those leaving Highway 3 at Kitsap Way.  I always thought it nice for a city to have these types of signs.  There is one on Wheaton Way in East Bremerton too and I am sure a few more I haven't seen. 

I just kept putting off my stop to the sign because it was in need of cleaning. One day I even took a jug of water and a Magic Eraser with me so that I could clean off the green mossy stuff that grows on stuff here in the Bremerton area of the Kitsap Peninsula.  I pulled in the parking lot of the Dairy Queen across the street but just didn't have the nerve to go and clean the sign! I do some pretty kooky things around town getting pictures for my blog and all I could think of was two words, "Crazy Lady".

I spent 3 weeks up in Alaska the end of July and into August and on my way home after my return flight I turned off Highway 3 onto Kitsap Way and there it was - the sign - all shiny and new! A new color, a new design and WOW how cool!!  This is the style of the new signs downtown around the Bremerton Boardwalk. I was just too excited. So after a couple of weeks getting back into the groove of business I made a special stop to take the picture.  I know this sounds silly - but this is where I live and I love it!

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

Last year I wrote a blog about West Bremerton Revitalization and the corner of National and Kitsap Way. This past Thursday my neighbor called me to say that they had started to take down the trees. Sure enough - construction has begun on the Walgreens site. Seeing the trees taken out gives me mixed feelings. From National it is really a strange site right now but up on the road above the view hasn't changed much except for the very end of Dora.

Here are some pictures I took today.

I have always enjoyed walking, but while raising a family I never lived in an area that was close to much of what I needed. The house I own now is very close to shopping but feels very remote, I have the best of both worlds. I chose my home based on how close it was to certain establishments. I wanted to be able to be close to services in case of some kind of emergency. I never thought about the exercise or the green effect walking could do for me.

When it snows here in the Oyster Bay area of Bremerton for some reason the elevated area I live on gets more snow than other areas close to the Charleston district. When it snows I can not pull out of my garage and get up the hill in front of my home. It makes me feel more in control when I know that I can walk to shopping if I needed.

With gas prices and environmental concerns many buyers in the Bremerton area are really looking at what is in walking distance to the properties they are viewing. Buying a house in a walkable neighborhood is also good for your health.

Here are some facts about walking from the new site that is assisting buyers and real estate agents on the "walkability" of neighborhoods in their area. WalkScore.com

• Better health
• Reduction in greenhouse gases
• Transportation options
• Social interaction
• Stronger local businesses

Below is what a WalkScore would look like. This is one if you lived on High Ave in Bremerton. You can use this tool on any address, just remember that it isn't fool proof. My home has a 58 score but the large QFC grocery store isn't listed and is about .09 miles from my home. Click on the WalkScore link above to find your WalkScore.

West Bremerton Revitalization

It's not just downtown Bremerton that is going thru some "revitalization", West Bremerton is enjoying some as well. About a year ago the new Rite Aid on the corner of Kitsap Way and National Ave opened just in time for the Holiday season. The building was a huge improvement to the corner and area in general.

Rite Aid wasn't a new neighbor, just moved into the new building. Now of course where there is a Rite Aid there must be a Walgreens!! Right? I am not kidding. The property that is a vacant / abandoned used car dealership was purchased this spring by a developer out of Bellevue.

I have seen the plans for a Walgreens - and guess what else??? A Starbucks! With a drive thru!! This drab corner will be turned into a fun new neighbor. The plans are still in the prelim stage but I am sure that you will see the ground break sometime in 2008.