market trends • Uncategorized • March 4, 2010

Northwest MLS brokers say housing market in Washington state indicates recovery

by Nate Scott

The Northwest Multiple Listing Service released the following market update today:

K IRKLAND, Wash. (March 4, 2010) – Northwest Multiple Listing Service members reported strong gains in home sales during February, with brokers pointing to several encouraging signs for a busy spring season. Improving consumer confidence and a looming deadline for homebuyer tax credits are helping to boost activity, according to NWMLS officials.

“We are entering what is traditionally our busiest home selling season,” said NWMLS director OB Jacobi, general manager of Windermere Real Estate Company. “With the first job increase since 2008 and closed sales in King County up about 45 percent, there is every indication that our market is in recovery,” he added. Jacobi reported “significant traffic” at open houses, which he attributes to the first-time homebuyer tax credit and rising consumer confidence.

Pending sales (offers made and accepted, but not yet closed) jumped nearly 45 percent last month compared to a year ago, marking the 11th straight month of month-over-month increases. Twelve of the 21 counties in the MLS market area reported double-digit gains in pending sales, led by San Juan (more…)

finance • January 5, 2010

First Time Homebuyer Tax Credit News

by Nate Scott

Great news on the First Time Homebuyer Tax Credit plan

The First Time Homebuyer Tax Credit gets you 10% of the value of the home up to$8,000! If you do not owe $8,000 in taxes, you receive the balance in cash via a check mailed directly to you.

You may qualify for the first time homebuyer tax credit program if you meet the following criteria:

1. Have not owned a home as your primary residence for the past three years.
2. Your income doesn not exceed $125,000 for individuals of $445 for married filing jointly
3. You must have a signed contract on a property by April 30, 2010 (you get an additional 60 days to close)
4. The home you are purchasing is going to be your primary residence
5. You are 18 years or older and are not a dependent of the seller
6. The home may not sell for more than $800,000 to qualify and if you resell the home within three years, there may be a credit repayment penalty

For all the details visit WaHomeowners.com for complete details.

Uncategorized • October 29, 2009

Tim Lemons joins the Windermere Team!

by Nate Scott

Anacortes Windermere is pleased to announce a Fresh New Twist on Real Estate, Tim Lemons is joining out team.

In Tim’s words…. “I’ve joined the Windermere Team because I appreciate their professional approach, and long-standing, highly regarded reputation in the real estate industry.

With the Windermere name behind me, and the unparalleled client care provided by not only myself, but our Anacortes office, buyers and sellers alike will benefit from my change.

Please swing by anytime for a hot cup of coffee, I’d love to show you my new office.” Thanks for choosing Windermere to partner with Tim, We’re excited to have you!

market trends • Uncategorized • October 2, 2009

Assessed values being adjusted in Anacortes

by Nate Scott

A quick conversation with the Skagit County Assessors Office confirmed that while they are not done with the process of doing their analysis, it does look like they will be adjusting down a good amount of the residential properties in Anacortes by around 10% and some possibly down by 15%. At this point there is no way to find out if your property is one that will be adjusted down, so don’t bother burning up the phone lines, but in the relatively near future we will see a change to a good deal of the properties not only here in Anacortes, but in select other areas in Skagit County. I’ll post more when this happens.

Year to date, on sales reported in the North West Multiple Listing Service, homes in Anacortes have been selling on average at 98% of their assessed value. Earlier in the year we were at 94%, so this number is creeping in the right direction. This does not include sales that were not Realtor assisted, and that number I would guess is much lower as there are a few foreclosure sales that will drag it down.

Just a general note for you is that market activety is up, showings are up and people are on the move!

finance • Uncategorized • September 9, 2009

Sharp increase in demand for mortgages

by Nate Scott

A pplications for mortgages surged 17 percent last week as lower interest rates spurred demand for both refinance and purchase loans, the Mortgage Bankers Association said in releasing the results of its Weekly Mortgage Applications Survey.

Applications for refinancings were up 22.5 percent for the week ending Sept. 4, the largest increase since March, while an index measuring applications for purchase loans was up 9.5 percent from a week earlier. Both indexes are seasonally adjusted.

Requests for refinancings made up 59.8 percent of applications, up from 56.5 percent the week before, and applications for adjustable-rate mortgage (ARM) loans accounted for 5.8 percent of applications, up from 5.6 percent.

(more…)

Uncategorized • August 28, 2009

New Owners at San Juan Island Windermere

by Nate Scott

F riday Harbor, WA – 27 August 2009 – Gary Franklin, long-time Island resident and real estate broker, is joining forces with the Scott family of Anacortes and Mount Vernon to buy the San Juan Island Windermere Real Estate office in Friday Harbor. John Dunning, who owns the Windermere office on Orcas Island, is the seller.

Franklin will continue as managing broker, the position he’s held for several years. The Scotts own and operate Windermere offices in Anacortes and Mount Vernon. “The stars aligned just perfectly” said Franklin. “John Dunning was ready to focus on his new Vacation Rentals business and the Orcas Windermere office, the Scotts were looking for new opportunities, and I have wanted an ownership role for several years. ”

Jim and Mary Scott opened a real estate office in Mount Vernon in 1977, and have been Windermere owners since 1989. Sons Josh and Nate manage the Mount Vernon office and the Anacortes office respectively, and daughter Megan O’Bryan is Benefits Manager and an active sales agent. “We are delighted to join Gary in the Friday Harbor office,” said Jim Scott. “Over the years, Gary and John have worked hard to build a very successful office. The agents are experts in the island’s real estate market, and are extremely knowledgeable when it comes to the complex issues that affect buying and selling island real estate. Additionally, they’re all wonderful people who are committed to the island community-which is an important part of the Windermere, and our family’s, philosophy.

Says Franklin, “As an island resident, I’m excited to continue my role as a local business leader, and to know that our agents will continue to have strong, experienced leadership behind them. This is truly a win-win situation for all of us.”

Uncategorized • August 7, 2009

48th annual Anacortes Arts Festival

by Nate Scott

A rt galore this weekend in Anacortes for the 48th annual Anacortes Arts Festival. Stop in and see over 250 juried booth artisans, art exhibits at the Port Warehouse, culinary arts, music, and of course the youth activites area sponsored by Windermere and T Bailey. There is plenty to keep you busy in Old Town Anacortes, so make a weekend of it and take in the arts!

market trends • July 28, 2009

Quadrant boosts production in response to home sales

by Nate Scott

O ur area’s largest homebuilder has boosted production from 2 homes a day, to 3 homes a day in response to the uptick in home sales. Quadrant homes are in the $200-300,000 range and are lined up exactly where demand currently lies. I wouldn’t expect to see some of our higher end home builders jump on the bandwagon just yet as there seems to be plenty of inventory in the high end, and relatively few sales. Read the article in the Seattle Times here.

A widely watched index, The Standard & Poor’s/Case-Shiller home price index of 20 major cities, shows home prices posted their first monthly increase since the summer of 2006, indicating prices are finally stabilizing. The report released Tuesday rose 0.5 percent from April, but was still 17.1 percent below May a year ago.

The 10-city index rose 0.4 percent from April, but was off 16.8 percent from May last year. It was the fourth consecutive month both indexes didn’t post record annual decline. Home prices are now at levels not seen since mid-2003.

market trends • July 27, 2009

New Home Sales on the rise!

by Nate Scott

G ood news for home builders, and ultimately the economy. Sales of new homes showed strong increases in June, inventory of new homes has dropped below “normal” levels, and builder confidnece is up. All of these point to more new home starts in our future which of course means jobs in the construction industry and supplies being purchased from suppliers who must be hurting durning this downturn. Good news all around! Read the article here.

Uncategorized • July 24, 2009

Shipwreck Day Success!

by Nate Scott

A huge thank you to Carrie Tisinger and her crew for their incredible work
at Shipwreck this year! Carrie and her crew were able to raise $1,110.00
dollars delivered directly to the Anacortes Food Bank to help purchase much
needed supplies. Carrie and her team would like to thank Cap Sante Heated
Mini Storage, The Anacortes American, Anacortes Chamber of Commerce and The
Wrestlers for Life for their space, visibility and might that made the booth
possible.

The agents at Windermere Real Estate would like to thank Carrie for her focus on the
local community and willingness to spend her time to benefit Anacortes
residents in need of some extra help ~ we also want to thank Carrie for the
extra space created in our garages by helping us take our “stuff” and turning
it into someone else’s “treasure”! Good work Carrie!