Bremerton : Silverdale : Port Orchard : Poulsbo

During the month of September there were 60 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 60 Port Orchard homes -

Average List Price

• $243,127
  
• $155 per sq ft

Average Sold Price

• $236,000
  
• $149 per sq ft

The average sq ft of these 60 Port Orchard homes was 1804 sq ft. These homes spent an average of 97 days on the market (DOM).

The list to sale ratio for these homes was 97.07 percent. What that meas is that buyers offered 97.07% 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
• Port Orchard Real Estate | July Homes SOLD
• Port Orchard Real Estate | August 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

 Below is the article I wrote about the $7,500 Tax Incentive - it really is an incentive at this point and really not a true tax credit since it has to be paid back over a 15 year period.  However, while reading the Seattle Times' real estate section online this past couple of days I came upon this article by Kenneth R. Harney

$7,500 tax credit may be yours to keep

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. On July 30^th President Bush signed into law House Bill 3221 (H.R. 3221: Housing and Economic Recovery Act of 2008) which included a special tax incentive for First-Time Home Buyers (Sec.3001). This bill provides a tax credit up to $7,500 for homes purchased on or after April 9, 2008, which the First-Time Home Buyer will repay over 15 years following the purchase. This is not a down-payment assistance program, but rather a ZERO INTEREST LOAN that has some amazing features.

• The tax credit is available for first-time home buyers only. Purchaser (and spouse) may not have owned a principal residence in the previous 3 years.
  
• The maximum credit amount is ten percent of the cost of the home and can not exceed $7,500.
  
• Property eligible is any single-family residence that will be a principal residence.
  
• The credit is available for homes purchased on or after April 9, 2008 and before
  July 1, 2009.
  
• There are income limits. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
  
• The tax credit works like an interest-free loan and must be repaid over a 15-year period. Each year 6.67% of the credit to be repaid – if you received the full credit that is only $500.25!. If sold before 15 years than remainder of credit is paid at time of sale.

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.

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Authored By: Jo Soss : WestSoundLive.com

Happy New Year!

Want a New Home for the New Year? If you have thought about buying a new home in Port Orchard right now might just be the perfect time for you. Prices have dropped, Buyer bonuses are plenty and builders are really in the mood to sell their inventory.

I have been visiting a few local new developments and I am excited for my buyers! Port Orchard boasts a few choices when it comes to what you would like in your new neighborhood from mega size to mini size. In the price range under $300,000 you will find 31 homes listed in the NWMLS (Northwest Multiple Listing Service). The neighborhoods these homes are located in of course have several other home sites available to sale so this number could be double.

I know of one new neighborhood in the Manchester area of Port Orchard that shows only 3 homes currently on the market but one of my buyers is purchasing a home on a primo lot that wasn’t even listed in the NWMLS. You have to know the “ins/outs” of new construction!

Of the 31 homes listed there are five 2 bedroom homes with an average square footage of 1355. There are twenty-two 3 bedroom homes with an average square footage of 1642 and there are four 4 bedroom homes with an average square footage of 1959.

Some even have buyer bonuses. A few have $5,000.00 Buyer Bonuses.

So if you want to get the “scoop” on new construction in Port Orchard send me an email or better yet give me a call so that we can discuss your needs and desires!

2009 is going to be the buyer’s year for new construction in Port Orchard!

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Jo Soss-Olson · WestSoundLive · Copyright © 2009 · All Rights Reserved

The Seagulls are calling!

No, that’s not the City of Port Orchard’s slogan but Port Orchard is the host of the famous Seagull Calling Festival a fun and quirky festival hosted by the City of Port Orchard’s Chamber of Commerce in the spring. This crazy event has been featured on The Tonight Show, on CBS Sunday Morning and on King 5 Evening Magazine.

Port Orchard is a fun place! Being a waterfront community there are many amenities such as numerous marinas, unique shopping, museums, entertainment, galleries and fun/fine dining. Just a ferry ride from Bremerton and Seattle the City of Port Orchard is a fun weekend getaway for visitors which help bolster the local economy.

Between the waterfront and downtown area you will find Port Orchard fun activities all year round. From the legendary Fathoms O’ Fun Festival in June and July which features a waterfront carnival, a parade down Bay Street and an amazing fireworks display, to Tall Ships visits, Cedar Cove Days, Farmers Market on the Waterfront and the annual Festival of Chimes & Lights, Port Orchard is a fun place to live!

Seriously….

The City of Port Orchard which is located on Sinclair Inlet in the West Sound area of Puget Sound was originally named the Town of Sidney and incorporated in 1890.

Port Orchard is rich with a historic downtown and is the County seat for Kitsap County.

The City of Port Orchard and the area surrounding the incorporated area also known as Port Orchard are serviced by the South Kitsap School District. The South Kitsap School District has adopted the Vision Statement: Nurturing growth, Inspiring achievement, Building community.

Port Orchard is a visionary community of the ever changing and diversifying West Sound area. Economic growth, lifestyle experience and community pride is alive and well in Port Orchard.

Whether you come to play or plan on staying you will not be disappointed with the opportunities available to you.

Please utilize all of this free Port Orchard WA Real Estate information to help educate yourself on the Real Estate Market in Port Orchard WA.  Whether you are living in Port Orchard WA now or starting a Relocation or a Military Relocation PCS you will find that I have all of the real estate resource information you need here. If you have any more Port Orchard WA Real Estate questions please feel free to contact me.

• Search Port Orchard WA homes for Sale without Registration  
• Find Port Orchard WA School Information
• The City of Port Orchard

• Port Orchard WA Home Buying Tips
• Port Orchard WA Buyer Resources
• Port Orchard WA Buyer Reports
• Washington State Law of Real Estate Agency
• Contact | Jo Soss | Kitsap County Real Estate Agent

Authored By: Jo Soss : WestSoundLive.com

First a brief look at my background in new construction.

In 1995 I met a real estate agent named Don Richards at the Windermere office I had just moved my license to. Don was a project manager for another real estate agent in the area that represented several smaller spec type home builders. When Don approached me and asked if I would like to help out “sitting” a site in Sumner, WA being built by Hultquist Homes, I jumped at the chance! This is when my passion of selling new construction began. New construction became my niche market.

I learned all of my new construction knowledge from several individuals that had been selling new construction exclusively for several years. I decided that my background as a sales rep for a lumber yard back in the 1980’s was a huge bonus when it came to knowing the ins and outs of construction. My previous experience as a contractor sales rep had really given me the right tools to be knowledgeable in a profession I had just entered.

I learned from the bottom up. I first was asked to make sure the model home was furnished with marketing materials. A few weeks later I was asked to oversee the site open house schedule. With these tasks came more responsibility and a greater understanding of the new construction home selling process.

As the months and years went by I progressed from Assistant Project Manager under my partner Don Richards to Project Manager when he left the area to build his dream job in Alaska. After being the “bridesmaid” for the listing agent for several builders and projects I finally won my own project at Lakeland Hills in Auburn WA for the builder Abney/Revard out of OR. I was given the final phase of 22 homes after I submitted a very aggressive marketing plan. One so aggressive that I guaranteed I would personally “sit” the model home 7 days per week until all homes sold. I had a blast!

During my years as a Project Manager I was in charge of every aspect that marketing a new construction plat entailed. The list of duties is huge for an individual agent but I excelled at it.

The following is just a sample of the elements of new home construction sales I involved myself in.

• Designed, ordered and installed all marketing materials.
• Hired, trained, scheduled and supervised all site agents.
• Planned all “Grand Opening” and “Broker’s Open” house events.
• Developed a “New Construction Selling Guide” to assist agents.
• Attended weekly builder/escrow/lender production meetings.
• Arranged and scheduled final walk-thrus.
• Responsible for all NWMLS reporting.
• Responsible for all market research.
• Researched and developed bank proposal for a new plat in Renton, WA.
• Implemented several “Builder Addenda” to facilitate the option and upgrade process.

I do have to admit that during the years between 1995 and 2001 there wasn’t much emphasis put on personal web sites and blogging in my market area. Sure I had a web site, sure I utilized the NWMLS site and of course the Windermere web site for all of the projects, but I never once made an individual blog or web site for each project.

So back to my question, “Why do builders settle for less?”

After returning to the area in 2006 I reactivated my real estate license in 2007 and thought I would work in the resale arena to start my come back because I had moved to a different market area, most of my connections were out of the business and the market was slipping.

I now know that I need to get back to my “niche” – new construction, but with the rules on solicitation of another member’s listing I am really struggling with how to approach local builders. I am not going after the Quadrant, Chaffey, Norris type accounts. I am looking for that builder who is putting up 10 – 30 homes a year, maybe more. I am looking at finding a builder who is tired of not being treated like the big guys when it comes to marketing or representation.

I have visited several plats in the area that just don’t have any market plan, let alone an agent on site at a model home or trailer (yes I have sold many homes from a trailer or the trunk of my car). Where are the individual web sites for a small Kitsap County new home plat? Where are the marketing materials on site, like site maps, floor plans, brochures? Where are the site agents?

I really wonder how some builders sell homes if there is no marketing, let alone limited information usually with no photos, floor plans or much information on the Northwest Multiple web site. I wonder what kinds of promises were made. What types of commissions were negotiated? What if anything is the builder getting for the cost of a commission.

Like I said I can not ask the builder due to a violation of my multiple rules. I can some say ask to have the opportunity to make a proposal on their next project. Ok, “really” do you think I wouldn’t get my hand slapped for that one? I have never been given a true answer by the association or a Broker.

If you are a builder in Kitsap County reading this article and you would like more information YOU CAN CONTACT ME. If you make the first contact I am “off the hook” when it comes to solicitation. Of course I can not counsel you on how to fire your agent; you will need to read your listing contract for that information.

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