During the month of October there were 68 homes that sold in Port Orchard. This is 8 more homes than in September.  These Port Orchard 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 Port Orchard Washington.

Let's look at those 68 Port Orchard homes -

Average List Price

• $250,706
  
• $136 per sq ft

Average Sold Price

• $245,556
  
• $133 per sq ft

The average sq ft of these 68 Port Orchard homes was 1921 sq ft. These homes spent an average of138 days on the market (DOM).

The list to sale ratio for these homes was 97.95 percent. What that meas is that buyers offered 97.95% of what the seller requested.

Not a bad time to purchase a home in Port Orchard, Washington. The market is still under correction and there are several homes listed under $200,000. Over the next couple of days we should know if the $8,000 tax credit will be extented and if it will include other buyers.  Check out the information and bookmark so once I can post the information you will get it quick.  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.

Port Orchard Real Estate 2009 Market Reports

• Port Orchard Real Estate | February Homes SOLD
• Port Orchard Real Estate | March Homes SOLD
• Port Orchard Real Estate | April Homes SOLD
• Port Orchard Real Estate | May Homes SOLD
• Port Orchard Real Estate | June Homes SOLD
• Port Orchard Real Estate | July Homes SOLD
• Port Orchard Real Estate | August Homes SOLD
• Port Orchard Real Estate | September Homes SOLD

Similar Posts

• Kitsap County Real Estate Market Data 2007 vs 2008
• Bremerton Real Estate Market Data 2007 vs 2008
• Silverdale Real Estate Market Data 2007 vs 2008
• Port Orchard Real Estate Market Data 2007 vs 2008
  

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

During the month of July there were 68  homes that sold in Port Orchard.  These Port Orchard  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 Port Orchard Washington.

Let's look at those 68  Port Orchard homes -

Average List Price

• $252,099
  
• $139 per sq ft

Average Sold Price

• $245,344
  
• $135 per sq ft

The average sq ft of these 90 Port Orchard homes was 1897 sq ft.  These homes spent an average of 165 days on the market (DOM).

The list to sale ratio for these homes was 97.32 percent.  What that meas is that buyers offered 97.32% of what the seller requested.

Not a bad time to purchase a home in Port Orchard, Washington.  The market is still under correction and there are several homes listed under $200,000.  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.

Port Orchard Real Estate 2009 Market Reports

• Port Orchard Real Estate | February Homes SOLD
• Port Orchard Real Estate | March Homes SOLD
• Port Orchard Real Estate | April Homes SOLD
• Port Orchard Real Estate | May Homes SOLD
• Port Orchard Real Estate | June Homes SOLD

Similar Posts

• Kitsap County Real Estate Market Data 2007 vs 2008
• Bremerton Real Estate Market Data 2007 vs 2008
• Silverdale Real Estate Market Data 2007 vs 2008
• Port Orchard Real Estate Market Data 2007 vs 2008
  

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

 

So, is it a good time to buy real estate in the Bremerton, Silverdale, Port Orchard area of Kitsap County?  The question isn't as easy to answer as you may think.  Do you wait for the "bottom out"? How will you know when we hit bottom?  Do you chance waiting and then find yourself buying on the "upswing"? These are all very important questions and questions that many real estate experts are trying to answer for their buyers.  

Right now I don't think that any real estate professional can really give the perfect advice.  You see we have all the data but it is all really new data. The trends have changed, the market has changed and we have had to really study and become involved with market data more so than a few years ago. 

There are times when I am out showing a home and answering questions and I have said, "I don't know".  Buyers want to know what they can "get". Well, everyday there are strange things happening so the "get" part is a mystery.  I tell my buyers what others have "got" and really some have "got a lot" and some have not.

Just like real estate is local and "one size doesn't fit all" the same holds true for buyers. This may be the perfect time for you to buy and it may not.  What we need to do is find out what is best for you. That is why you need a real estate agent that will help you buy a home and not just sell you a home. There is a difference. Call me and we can discuss that in more detail.

Does a buyer's market mean you can "low ball" or ask for a ton of concessions? The answer is  - not really.  Within a "buyer's market" we sometimes find a "seller's market" in certain areas or price ranges.  So we need to still do our research which will include a comparative analysis of homes when we find the home you want to write a purchase and sell agreement on. 

Being a buyer's market you now have the opportunity to take some time, do some research and relax a little.  We are not going to see as many multiple offers, we are going to be able to ask for some concessions like closing costs, home warranty plan, appliances - there is some room for flexibility because the seller knows the buyer pool is a little on the low side. 

As a buyer you still must realize that the seller has goals too and some might even be offended if you offer a lower price.  But don't worry through the research process we will know how to overcome this objection with evidence we have gathered with our comparative analysis. 

Posts of Interest

First Time Homebuyer

• $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?

Kitsap Area Real Estate Market Stats

• Kitsap County Real Estate Market Data 2007 vs 2008
• Bremerton Real Estate Market Data 2007 vs 2008
• Silverdale Real Estate Market Data 2007 vs 2008
• Port Orchard Real Estate Market Data 2007 vs 2008

Kitsap Real Estate FYI

• Kitsap County | Pending Sales | What a week
• Bremerton Real Estate | New Construction Homes
• Kitsap County Home Buyer's | Closing Costs Paid by Seller

I want you to click on the photo of the CNN page to read the information about the new 1^st Time Homebuyer Tax Credit. This is awesome news for 1^st time homebuyers in the Kitsap County real estate market!

Are you sitting on the fence? Have you read the many horror stories across the nation? Well, remember real estate is local and here in the Kitsap County area we are in an amazing buyer’s market. It just might be the perfect time for you to purchase a home if you are a First-Time Home Buyer. Here is a nudge to get you into the housing market.

Read the article and make sure to read the scenario’s that CNN has listed

—————————————————————————————————————————

Final score: $8,000 for homebuyers

First-time purchasers get a tax credit windfall if they buy before December.

By Les Christie, CNNMoney.com staff writer

Last Updated: February 17, 2009: 12:13 PM ET

Scenario 1: Your final tax liability is normally $6,000. You’ve had taxes withheld from every paycheck and at the end of the year you’ve paid Uncle Sam $6,000. Since you’ve already paid him all you owe, you get the entire $8,000 tax credit as a refund check.

Scenario 2: Your final tax liability is $6,000, but you’ve overpaid by $1,000 through your payroll withholding. Normally you would get a $1,000 refund check. In this scenario, you get $9,000, the $8,000 credit plus the $1,000 you overpaid.

Scenario 3: Your final tax liability is $6,000, but you’ve underpaid through your payroll withholding by $1,000. Normally, you would have to write the IRS a $1,000 check. This time, the first $1,000 of the tax credit pays your bill, and you get the remaining $7,000 as a refund.

To qualify for the credit, the purchase must be made between Jan. 1, 2009 and Nov. 30, 2009. Buyers may not have owned a home for the past three years to qualify as “first time” buyer. They must also live in the house for at least three years, or they will be obligated to pay back the credit.

————————————————————————————————————————

If this sounds interesting to you why not give me a call so we can discuss it in more detail and I can get you in touch with one of my local lenders. I do not want you to think I am an expert in this area but I do have a network of mortgage lenders that are. You might also want to discuss this with your CPA. I am not allowed to practice law or give tax advice.

Similar Posts

• How to become a First Time Home Buyer

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