Kitsap County Real Estate Market Data 2007 vs 2008
January 18, 2009 by Jo Soss
Filed under 2) Real Estate Market Talk, 7) Blog
Today I was doing some market research and decided to compare 2007 and 2008. Not too indepth but just to see the solds and some price information. Here is what I found for Kitsap County. After my head stops hurting I will post some on the individual areas just so you can see how each city area compares. I have compiled figures for Silverdale, Bremerton, Port Orchard and Poulsbo.
Kitsap County : During the year of 2008 there were 2410 homes sold in Kitsap County with an Average Sales Price of $324,301. I would rather use Median and for 2008 the Median Sales Price was $265,000. The Average Market Time was 101 days and the Median Market Time was 71 days. Homes sold very close to the list price during 2008. Average list to average sale ratio for these 2410 homes was 96.85% while the Median list to sale ratio was 98.18%. It seems that we are pricing property correctly. So how is that pricing compared to the year 2007?
Kitsap County : During the year of 2007 there were 3223 homes sold in Kitsap County with an Average Sales Price of $363,657. The Median Sales Price was $291,500. The Average Market Time was on average 89 days and the Median Market Time was 65 days. Let’s look at the 2007 list to sale ratio. the Average list to average sale ratio for the 3223 homes was 98.19% while the Median list to sale ration was 98.83%.
There were 813 more homes sold in 2007 than in 2008. The Average List Price for 2008 was $35,526 lower than for the year 2007. The Median List Price for 2008 was $25,050 lower than for the year 2007. Those figures just don’t look to fun do they? So what was the actual sale price differences? The Average Sales Price for 2008 was $39,356 lower than for the year 2007. The Median Sales Price for 2008 was $26,500 lower than 2007. See why using Median figures doesn’t seem to sting as much!
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 theKitsap 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
United States Navy | Good Neighbor | Bremerton Revitalization
January 17, 2009 by Jo Soss
Filed under 4) Bremerton, 7) Blog
The City of Bremerton and the United States Navy have a strong commitment to the life quality of the local citizens. With all of the past revitalization projects in the downtown Bremerton core I had always wondered about the buildings located at Puget Sound Naval Shipyard (PSNS) and their close proximity to the gorgeous Harborside Fountain Park. I have taken photos at the park of the proud and sadly dilapidated Building 460. But I still felt a pride for this building and every time I look at her I wondered the stories she could tell.
You see Building 460, which today houses the shipyard’s weld and ship fitter shops, was built in 1940 and she maintains her World War II appearance. World War II – Just say those words. In this area of Puget Sound those words hold a special meaning and a pride that is strong. At the peak of World War II Bremerton was the home to an estimated 80,000 residents due to the Puget Sound Naval Shipyard and the Pacific war effort. Did you know that during the 1940’s Presidents Franklin D. Roosevelt and Harry S. Truman visited Bremerton? President Roosevelt even made a campaign stop at PSNS and gave a national radio address with civilian workers in the background.
The City of Bremerton has undergone a huge revitalization during the last several years and so U.S. Rep Norm Dicks and Bremerton Mayor Cary Bozeman suggested to the Navy that they may want to refurbish historic Building 460 at the Puget Sound Naval Shipyard. The Navy agreed and has now awarded a contract for the painting and refurbishing of Building 460.
Bremerton WA Real Estate Market Report Recap |December 2008
January 15, 2009 by Jo Soss
Filed under 2) Real Estate Market Talk, 4) Bremerton, 7) Blog
Here is the Real Estate Market Activity for January – December 2008. This is the last Market Activity Report for 2008! I have put a link to all of the others at the end of this post. In the year 2009 I am going to come up with something a little more fun.
On December 31st there were 460 homes for sale with 2 of those homes listed as a contingent sale and 14 homes listed as Pending Inspection (new NWMLS term STI was replaced) which means there is a contract that has been presented and accepted by the seller with the condition of the home inspection or a feasibility study.
Once the home inspection has taken place these 14 homes will either go back on the market or be listed as pending. These homes are not available for public view and will not show in the active section of the Northwest Multiple Listing Service. (NWMLS) – this will be changing in December. You will be able to go to broker websites and see the status. Ie:
Public Display of Pending Listings
In response to the request from the membership, effective Monday, December 15th, listings in the Pending, Pending Inspection, Pending Feasibility, and Pending BU Requested status will be available for public display on broker websites.
During the Month of December 55 homes were new to the Bremerton area Real Estate Market.
During the Month of December 40 homes went under contract and were removed from the active Bremerton homes data base. The median price for Bremerton area homes was $199,950 with a market time of 109 days (median).
During the Month of December 45 homes sold – which means that ownership changed hands and there are new owners listed on the tax records recorded at the Kitsap County courthouse. These Bremerton area homes were on the market 94 days (median) and sold for a median price of $199,500.
An absorption rate is the mathematical relationship of supply and demand. The absorption rate is the number of months it would take to sell the entire inventory of homes in the Bremerton area of Kitsap County if the pace were to stay constant.
The Absorption rate in the Bremerton area is 50.054 weeks or approximately 11.55 months of inventory if the current conditions remain unchanged. These figures have decreased this month by approximately 8 weeks. Less inventory is the reason. Remember absorption rates track trends. Let’s hope that 2009 will see us in the normal market of between 5 and 6 months of inventory. Normal markets in my honest opinion are best for everyone.
Using absorption rates can help you define markets. My definition breaks down like this…
Normal Market - Between 5 and 6 months of inventory.
Seller’s Market - Between 1 and 4 months of inventory.
Buyer’s Market – 7 months and higher.
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 Bremerton WA 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.
The Year 2008 Bremerton WA Real Estate Market Report Recap
- Bremerton WA Real Estate Market Report Recap | January 2008
- Bremerton WA Real Estate Market Report Recap | February 2008
- Bremerton WA Real Estate Market Report Recap | March 2008
- Bremerton WA Real Estate Market Report Recap | April 2008
- Bremerton WA Real Estate Market Report Recap | May 2008
- Bremerton WA Real Estate Market Report Recap | June 2008
- Bremerton WA Real Estate Market Report Recap | July 2008
- Bremerton WA Real Estate Market Report Recap | August 2008
- Bremerton WA Real Estate Market Report Recap | September 2008
- Bremerton WA Real Estate Market Report Recap | October 2008
- Bremerton WA Real Estate Market Report Recap | November 2008
“Statistics not compiled or published by NWMLS.”
Equal Opportunity Housing
All information deemed reliable, but not guaranteed
Your Poulsbo WA Real Estate Search Starts Here
January 15, 2009 by Jo Soss
Filed under 2) Real Estate Market Talk, 7) Blog
Welcome to Poulsbo WA on the Beautiful Kitsap Peninsula
between the Olympic and Cascade Mountain ranges in Washington State. The Kitsap Peninsula area offers some of the best views of mountains and water as well as some of the best boating and recreational opportunities in the Greater Puget Sound Area. Within a mile radius you have several attractions and facilities to visit and explore. I always say I can be to the beach or the mountains in under an hour!
Please utilize all of this free Poulsbo WA Real Estate information to help educate yourself on the Real Estate Market in Poulsbo WA. Whether you are living in Poulsbo 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 Poulsbo WA 
Real Estate questions please feel free to contact me.
- Poulsbo WA Home Buying Tips
- Poulsbo WA Buyer Resources
- Poulsbo WA Buyer Reports
- Washington State Law of Real Estate Agency
- Contact | Jo Soss | Kitsap County WA Real Estate Agent
Be sure to visit WestSoundLive! your West Sound Web Resource
Citizens Write Plan “C” | Ferry Riders | Community Members | Rep. Larry Seaquist Has a Plan
January 13, 2009 by Jo Soss
Filed under 4) Bremerton, 7) Blog
If you ride the ferry, work on the ferry or are a member of communities that are served by the Washington Ferry System, which by the way is the largest in the country you may want to mark Saturday to help write a better ferry plan. Rep. Larry Seaquist, D-Gig Harbor has advised the public that the two drafts of the Washington State Ferries’ long-range plan options – Plan A and Plan B are inadequate. Rep. Seaquist is leading the charge with a campaign called “Citizens Write Plan C”. Isn’t that just the coolest name of a committee you have seen?!
So Saturday plan to attend the project planning meeting at the Norm Dicks Government Center located at 345 Sixth Street, Bremerton at 9 am.
A Web site — www.CitizensWritePlanC.com — be online soon.
Seaquist can be reached in Olympia at (360) 786-7802 or at seaquist.larry@leg.wa.gov.
13895 Crestview Circle NW – Silverdale
January 10, 2009 by Jo Soss
Filed under 5) Silverdale, 7) Blog
Check out the new web site that I have just launched for this amazing listing in Silverdale. Close to everything, Bangor, NBK, Naval Hospital Bremerton, Silverdale Mall and the Bremerton Ferry system this is a dream location.
Port Orchard New Construction under $300,000
January 4, 2009 by Jo Soss
Filed under 2) Real Estate Market Talk, 6) Port Orchard, 7) Blog
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!
Naval Base Kitsap | Tax Breaks with Tax Free Money – How is that Legal – BAH!!!
January 1, 2009 by Jo Soss
Filed under 2) Real Estate Market Talk, 4) Naval Base Kitsap, 7) Blog
If you are in the United States Military and receive BAH (Basic Allowance for Housing) it is. This is a huge financial opportunity that not many Military members take advantage of for fear of the real estate market and the lack of education concerning real estate ownership.
The average homeowner receives tax breaks associated with home ownership. The yearly property taxes and yearly interest payments are tax deductible on their yearly tax return.
The average Military homeowner receives tax breaks associated with home ownership. The yearly property taxes and yearly interest payments are tax deductible on their yearly tax return, also. However, the Military member receives all of these tax breaks with tax free money since the basic housing allowance (BAH) is tax free. Wow! What an incentive to purchase a home while serving in the Military.
With tax season here and Military W-2′ being released (See MyPay release Schedule here) you should really 
take a hard look at your future financial picture. Are you taking advantage of all your Military benefits? Are you paying more taxes at the end of the year because you have no “tax shelter”, no way of filing the “long form”? Are you just coasting by blinded because you think it is too risky to purchase property while serving in the Military? If you need tax advice please seek a professional tax advisor.
If you can answer yes to several of these questions you really need to look deeper into the process of Military homeownership.
-
Have you been saving for a home?
- Is your credit profile in good shape?
- Is the tour of duty longer than 2 years?
- Can you anticipate coming back to the area?
- Could you be a landlord if you needed?
- Can you budget two housing payments in the future?
Take a look at: New 2009 BAH Rates Released | Naval Base Kitsap | Bremerton | Bangor | PSNS | Naval Hospital Bremerton and see the possibilities.
Currently in the West Sound area there are many homes that are still in a very affordable price range. See for yourself here. Search Naval Base Kitsap Homes for sale Now.
Check here for my Military Buyer Rebate Information. Yes, I do offer a “Military Discount” all you have to do is ask.
Other links for your interest:
New 2009 BAH Rates Released | Naval Base Kitsap | Bremerton | Bangor | PSNS | Naval Hospital Bremerton
January 1, 2009 by Jo Soss
Filed under 2) Real Estate Market Talk, 4) Naval Base Kitsap, 6) Port Orchard, 7) Blog
What are you doing with your BAH? Are you giving it to the PPV/Military Housing? Are you giving it to a landlord to pay THEIR mortgage? No matter what you are hearing in the media you have to remember that the market is different for everyone. Here in the West Sound there are some amazing opportunities for home buyers. You need to build for your future. Please call me today! As a military spouse I know what questions you have and can answer them for you from the perspective of a member of the military community – a true member.
Other links for your interest:
SEARCH FOR WEST SOUND HOMES HERE
