Bremerton Real Estate | February Homes SOLD

During the month of February there were 54 homes that sold in Bremerton.  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!

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 Bremerton Washington.

Let’s look at those 54 Bremerton homes -

Average List Price

• $213,592
• $136 per sq ft

Average Sold Price

• $206,516
• $132 per sq ft

The average sq ft of these 54 Bremerton homes was 1592 sq ft.  These homes spent an average of 174 days on the market (DOM).

The list to sale ratio for these homes was 96.69 percent.  What that meas is that buyers offered 96.69% of what the seller requested.  So the average list price home of $213,592 would have received an offer from a buyer of $206,516.

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.

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

Bremerton Real Estate | New Construction Homes

Sometimes you just have to have new. I have a few buyers that are all about the new and so I have seen several new home neighborhoods over the last several weeks. New construction is a passion of mine and it use to be my real estate “niche”. I have participated in the selling of over 225 new construction homes since I began selling new construction in 1996. That may not be a large amount for the big builders but it gave me the experience and the knowledge to know my way around the new construction plat selling arena.

I also have an extensive background in the building material field which has also given me the extra knowledge that has helped me educate my new construction buyers. I know the terms, header, truss, stud, hip and joist. I use to be able to tell you what type nail would be used for different applications. Anyway, I know my way around a construction site.

Having the knowledge helps me educate my new construction home buyers so that they feel comfortable with their buying decision. I have sold new homes to buyers from other parts of the country using video and photos along with drawings and floor plans. The knowledge I can give a buyer that is thinking of purchasing a new construction home is vast.

Currently in Bremerton there are 99 new homes listed on the NWMLS site. Some of these homes are complete and vacant ready for you to move right in and some of these homes are at different stages of construction. There are also several presale homes available with a construction time between 90 and 180 days.

I have included town-homes in my data.

There are 5 homes that are two bedrooms with 1587 average sq ft. These homes have an average list price of $247,960.

There are 73 homes that offer three bedrooms with 1816 average sq ft. These homes have an average list price of $276,784.

There are 21 four bedroom homes that boast an average of 2293 sq ft. These homes have an average list price of $341,352.

I am unable to show you these photos due to my NWMLS rules and regulations, however if you would like to see them all just send me an email and I will email you a link to all 99 homes directly from the NWMLS web site.

If you want to search for New Construction Homes you can search here for free without registration.

$8,000 First Time Homebuyer Tax Credit | Who is Eligible in Kitsap County?

I have several first time home buyers at the moment and we have all been talking about the new First-Time Home buyer Credit. This is the new 2009 First-Time Home buyer Credit. The $8,000. tax credit that is a credit and NOT a loan. This credit DOES NOT have to be paid back and as everything there are exceptions. The exceptions are…

• Must use the home as a principle residence for at least three years or face recapture of the tax credit amount. Certain exceptions apply. Ask your tax adviser or read Form 5405

So back to the “Who is Eligible?”. You can claim the tax credit if you are a first-time home buyer. Have you ever purchased a home? If the answer is YES you STILL MIGHT BE ELIGIBLE. The first-time home buyer must be able to state you did not own any other home during the past 3 year period that would end on the date of your new purchase. So see you may be a first-time home buyer even if you have owned a home. It is home-buying “do-overs”!

1. You must have purchased your home after January 1, 2009 and before December 31, 2009 to claim the tax credit.
2. Sometimes it is easier to decide eligibility if you know who CANNOT clam the credit
3. Your modified adjusted gross income is over $95,000 or $170,000 if married filing a joint return.
4. You are a nonresident alien.
5. You acquired your home by gift or you inherited it.
6. You purchased your home from a person you are related to.

There are other exceptions but for your local Kitsap area they don’t mean much. You can find them on Form 5405.

Looks like there will be lots of first-time home buyers out this spring which in turn will help move that “move-up” market in Kitsap County. Of course you will want to verify all of this with a tax consultant or go to the IRS web site and look for IRS Form 5405.

I have some ideas about this credit for local buyers so if you are interested please send me an email for more discussion!