WHY SELL IN A “BUYER’S MARKET”

The truth of the matter is most home sellers become home buyers. Let me try to explain how selling in a buyer’s market could be even better for you in the big picture.

Usually, when you have decided to sell your home it is to find another home, and so the switch from seller to buyer happens really quickly. You want your home to sell so that you can buy. Most second, third and fourth time buyers have a pretty good idea what they want to buy, you might have already decided to sell based on a house you just saw, in a neighborhood you have always wanted to live in. “Move-up Buyers” also at the very least know what price range they should be looking in.

So, if you are a “Move-up Buyer” and you are selling and buying in the same local area it just might be better to be in a buyer’s market than in a seller’s market. Ok, don’t look at me that way, let me explain. I know it does sound a little crazy.

Sure, in a seller’s market you might get more for your home than you ever imagined, there might be a bidding war with multiple offers and the days on market could be just minutes, making you a very happy seller.

On the other side, selling in a buyers market can mean days and days on the market (average is around 105 currently). You have to really be aggressive in your price to be competitive with the over-stock of inventory and you just might get less for your home than you would have a couple of years ago.

A couple of years ago was not the right time for you to sell so that gain really is just an imaginary figure, remember that.

Let’s look at how it was for a buyer in Kitsap County in 2006. I remember this well because I was a buyer during that time period.

• I couldn’t write a home with a contingency
• There were few home to choose from – I spent hours searching
• I had to be ready to write asap with out the benefit of “sleeping on it”
• Even going in full price I had no idea if there were going to be escalation clauses
• I was in several transaction were there were multiple offers from other buyers
• I did receive the “take it or leave it” attitude of sellers because buyers were a dime a dozen!
• I was told during an inspection process that if I asked for anything the seller was ready to take the “back up” offer.
• It was tough being a buyer!

Now, lets look at how it is for a buyer in Kitsap County in 2008.

• Most sellers will be happy to take a contingent offer (it’s an offer)
• The inventory of home is HUGE so you have more choice
• You have time to look and decide without feeling too rushed. You might even be able to “sleep on it”.
• The average asking price is coming down – you might get more home
• You have the opportunity to ask for some concessions (closing costs, home warranty, repairs)
• There might be homes listed with some incentives to buyers - Buyer Bonus

You don’t want to be the seller that waits until the market turns around. You will get less for your current home and then you will be buying in a seller’s market, not much sense in that. We never know where or when the bottom of the market is just like we don’t know when the market has turned until it has happened and we are on the up swing.

I would much rather buy in a buyers market than sell in a seller’s market because you have more control over your final product – the “Move-Up” house. You can feel better living in a home that you were able to choose wisely and were able to make an informed decision on rather than feeling like you had to make an offer out of fear. Buying in “fear of loss” is no fun and you loose so much control.

Remember, you may get less for your current home than you thought or you could have a couple of years ago, but you will be able to buy more with what you do realize out of your sale. You will also benefit with the Seller’s [Move-up Buyers] Advantage Plan.

Peninsula Girl Scout Program Center | Donor Recognition & Naming Opportunities

Peninsula Girl Scout Program Center

1600 Winters Road NE

Donor Recognition & Naming Opportunities

Girl Scouts of Western Washington

Girl Scouts of Western Washington is offering a wide variety of opportunities to leave your legacy on this new space. By naming one of the spaces you can recognize, honor or remember an individual, group, or a testament of your own as you recognize how important Girl Scouting has been in your life. At the same time you are providing financial support for a center that will be vital in the community for many years to come. The following is the list of naming opportunities as of November 6, 2008

Leadership Gifts

$300,000 Level

Naming of the Girl Scout Program Center

This new facility will be a cornerstone in the community as it functions as the activity center for hundreds of Girl Scouts, volunteers and community groups. This building will be viewed by thousands of people each year who drive by on Highway 303 between Bremerton and Silverdale.

$75,000 Level

Activity Hall – Already selected

As guests walk into the center the first area they see is the impressive Activity Hall. This room will be the core location for troop activities as well as community and volunteer meetings. With its vaulted ceilings and stage, the space is adaptable for many room layouts and will accommodate over 100 people at any time.

$50,000 Level

Multi-Purpose Area

This area will be designed to accommodate troops engaged in hands on activities such as program meetings and project meetings when groups would like to access the kitchen.

Additional Naming opportunities

$10,000 Level – 3 opportunities

Stage in Activity Hall

Regional Director’s Office

Kitchen

$5,000 – 9 Opportunities

Staff Offices – 7

Training room – 1

Work Room - 1

$4,999 to $2,500 Level

Name on a permanent donor wall in large lettering on Foyer

$2,499 - $1,000

Listing on donor wall in Activity Hall

Gifts of all sizes will be recognized on the donor honor roll and in publications.

If you are interested in one of the naming opportunities or you would like more information about the Peninsula
Girl Scout Program Center please contact the Girl Scouts of Western Washington at 360-373-9578.

Peninsula Girl Scout Program Center| 1600 NE Winters Road, Bremerton

The Opportunity

This is an opportunity for you to truly make a difference in the lives of young girls by providing a special place to meet and learn — where they will be accepted and grow in a nurturing environment. An opportunity for girls to build character and skills for success in today’s real world. A place where they will develop their leadership skills by working together with other girls and committed adult volunteers; a place where they will build skills of courage, confidence and character to make the world a better place — skills that will last a lifetime.

Challenge

Since 1939, Girl Scouts has been serving girls from the Kitsap and Olympic Peninsulas out of a one room building in downtown Bremerton. While the land is owned by the city of Bremerton, the building was originally built by a local Kiwanis Club and donated to Girl Scouts and Campfire. The city has allowed Girl Scouts to operate out of the facility free of charge.

In 2006, the city of Bremerton made the decision to widen Warren Avenue the street that the building fronts. As a result, Girl Scouts will have to move out by April 2009, the building will be torn down and will no longer be available for our use. This closure means that:

· Girls and volunteers will have limited places for free meeting, activity and training space.

· Volunteers will not have quick, easy access to resources and trainings and

· We will no longer have space to house staff in close proximity to girls in the region, and

While the news of street improvements has been disappointing, this opportunity also gives Girl Scouts of Western Washington the chance to purchase a building that can better meet the needs of girls in the area.

It’s All About the Girls

Girl Scouts is the world’s preeminent organization dedicated solely to girls - all girls -where, in an accepting and nurturing environment, they build character and skills for success in the real world. Girl Scout programs respond to the unique educational and emotional needs of girls, addressing their current interests, the critical issues that affect their lives and their future roles as women. In partnership with committed adult volunteers, girls develop qualities like leadership, strong values, social conscience, and conviction about their own potential and self-worth.

Some 26,000 girls grades K-12 are served by Girl Scouts of Western Washington.

Funding will allow Girl Scouts to:

· Stay in the community,

· Expand and strengthen our programs to serve more girls,

· Provide free space for girl activities and adult trainings, keeping costs low and accessible to ALL girls, despite their economic circumstances, and

· To deliver on our mission of building girls of courage, confidence and character who make the world a better place.

The New Facility

Since we were notified about the demolition Girl Scouts has been working with local volunteers to identify a new home to serve as the base for Girl Scouts in the Peninsula. In consultation with local volunteers, we have evaluated our options for leasing, purchasing, or moving the existing building and concluded that purchasing a building would be in the best long term interest of the program.

As a result, we purchased a 5,800 sq ft structure at 1600 NE Winters Road at the edge of the Bremerton city limits. The building requires modifications to convert the facility for youth program use. The modifications include interior changes, adding signage, replacing some windows, adding an ADA chair lift and bathroom, replacing the roof as well as a few other projects including new flooring, paint, etc. .

The facility is located on a major highway which facilitates easy drop-off and pick-up for after-school troop meetings and summer day camps and easy access to weekend events that typically draw from a larger geographical area. The facility will be designed to meet the needs of Girl Scout troops, weekend events and workshops with storage for equipment and supplies, thereby allowing for easy set up for activities. There is ample free parking to accommodate events serving large numbers of girls.

The facility will house our staff which include four full-time year round and two seasonal staff and provide room for expansion. It will serve as the hub for Girl Scout programs serving girls from grades K-12 living in the peninsula region.

Through troop meetings we expect to serve 50-60 girls a week. Through weekend activities and events we expect to serve hundreds of girls a year. Through summer day camp we expect to serve an additional hundreds of girls each day for two weeks each summer.

The size and flexibility of the facility will give us the ability to provide a much greater array of activities than our current site which had limited parking and could only accommodate small meetings. Having this facility will ease the burden on troops that are finding it increasingly difficult to find appropriate after-school meeting sites or sites that do not charge a fee for use. This program center is essential because it is a site the girls and volunteers do not have to pay for. Girl Scouts of Western Washington has already provided 41% of our member girls in the city of Bremerton with financial assistance to pay for camp and troop dues, and we have provided substantial financial assistance for girls from Kitsap, Clallam, Jefferson, and Mason counties.

The Campaign

The original purchase price of the property was $870,000 plus thousands of dollars in architectural, engineering, and construction costs. The C. Keith Birkenfeld Memorial Trust at the Seattle Foundation awarded the Girl Scouts of Western Washington $74,600 to purchase and renovate the new facilities. To date GSWW needs to raise $600,000 for this building. Of this amount, we are recommended to receive, subject to state legislative approval, $205,000 in state funding from the State Department of Community, Trade & Economic Development (CTED). Time is of the essence since we move into the building in April 2009.

Community assistance is crucial to the successful completion of this project. Foundations, corporations, local service clubs, Girl Scout families and individuals are urged to contribute via the Girl Scouts of Western Washington website (https://www.GirlScoutsWW.org/donate), or through checks made payable to GSWW-Bremerton Campaign, P.O. Box 900961, Seattle, WA 98109, in order to ensure the continuance of healthy and safe programming for girls in the Peninsula region.

About Girl Scouts of Western Washington

At Girl Scouts we know that given the opportunity, every girl can become a leader with the courage to act on her values, develop the ability to make clear decisions, and acquire the self-confidence to make a difference in the world around her. Girl Scouts helps girls grow courageous and strong through girl-driven programs, reflecting the ever-changing needs and interests of girls.

Girl Scouts of Western Washington currently serves more than 26,000 girls in partnership with nearly 12,500 volunteers throughout 17 counties in Western Washington. We operate program and regional offices located in Bremerton, Seattle, DuPont, Bellevue, Aberdeen, Marysville, Longview, and Renton, as well as six camp properties located in Longview, Hoquiam, Belfair, Carnation and Lilliwaup.

Thursdays Things to Do:: Friday 21 | Saturday 22 | Sunday 23 | Out & About Kitsap County

Friday, November 21st

7:00pm

Bremerton

Admiral Theater - Yankee Doodle Dandy |  A 1942 biographical film about George M. Cohan, the actore, singer, dancer, playwright, songwiter, producer, theatre owner known as “The Man Who Owns Broadway”. - General Admission $7.00

Saturday, November 22nd

10:00am

Bangor

Turkey Trot|  5k, 1 Mile run (Must have access to base).  Contact: Lisa Bertolacci-Starich 360.315.2134

Saturday, November 22nd ( Every Saturday through December 20th)

10:00am - 3:00pm

Bainbridge Island

Bainbridge Island Winter Market |  Indoors and out. Seasonal produce, oysters, clams, breads and baked goods, wines, jams, salsas, holiday decore and gifts.  Come do your shopping for the Holidays.

Friday, Saturday & Sunday (October 31st running through November 23rd)

Fridays & Saturdays at 8:00 PM; Sundays at 2:30 PM

Bremerton

Bremerton Community Theater Blithe Spirit, The ingenious plot begins when novelist Charles Condomine invites an eccentric, breezy lady medium into his placid country home in order to learn the language of the occult.

Friday, Saturday & Sunday (November 21st,22nd,23rd)

The show hours are Friday from 10 a.m. to 6 p.m., Saturday from 10 a.m. to 6 p.m. and Sunday from 10a.m. to 5p.m

Bremerton

Kitsap Sun Pavillion at the Kitsap County Fairgrounds

Holiday Gift Fair KICK OFF THE LARGEST SHOPPING SEASON OF THE YEAR!!The Olympic Peninsula’s 21st Annual “Holiday Gift and Food Fair.

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

Inside Scoop | Looking for a New Home?

Are you looking to purchase a new home in Kitsap County? How about one in the area of Port Orchard?  If so I have some “scoop”.  Send me your email or give me a call and I can let you in on the secret.  If you are a VA buyer this offer could be worth $10,000 plus some closing costs. It is exciting!

Bremerton Real Estate Absorption Rates 2008

The Definition of Absorption Rates:

Number of weeks it takes to sell the current inventory at the present rate of sales. Using absorption rates can help you define markets. My definition breaks down like this…

Normal Market - Between 5 and 6 months of inventory. (21.65 - 25.98 weeks)

Seller’s Market - Between 1 and 4 months of inventory. (4.33 - 17.32 weeks)

Buyer’s Market - 7 months and higher. (30.31 plus)

Now remember that absorption rates just track trends and isn’t an exact science! Here is the absorption rate trend for 2008.

Thursdays Things to Do:: Friday 14 | Saturday 15 | Sunday 16 | Out & About Kitsap County

Authored By: Jo Soss : WestSoundLive.com

Friday, November 14^th

7:00pm

Bremerton

Admiral Theater - The Secret of Roan Irish |  10-year-old Fiona is sent to live with her grandparents in a small fishing village in Donegal, Ireland. She soon learns the local legend that an ancestor of hers married a Selkie - a seal who can turn into a human. Movie - General Admission $7.00

Friday & Saturday, November 14th and November 15th

10:00am and 2:00pm Each Day.

Poulsbo

Valley Nursery - Wreath Class | How to use the Wreath Machines.  The Nursery will show you how to creat your masterpiece.  Classes are held in a greenhouse and are FREE.  You will not make your wreath at this time, but sign up to come back later and use one of the machines.  Classes are approximately 30 minutes.

Friday, Saturday & Sunday (October 31st running through November 23rd)

Fridays & Saturdays at 8:00 PM; Sundays at 2:30 PM

Bremerton

Bremerton Community Theater Blithe Spirit, The ingenious plot begins when novelist Charles Condomine invites an eccentric, breezy lady medium into his placid country home in order to learn the language of the occult.

Saturday, November 15th (Every Saturday through December 20th)

10:00am - 3:00pm

Bainbridge Island

Bainbridge Island Winter Market |  Indoors and out. Seasonal produce, oysters, clams, breads and baked goods, wines, jams, salsas, holiday decore and gifts.  Come do your shopping for the Holidays.

Saturday, November 15th

12:00am - 5:00pm

Poulsbo

Sons of Norway |  Lutefisk & Meatball Dinner.  Fresh Lutefisk with cream sauce, savory meat malls, carrots, potatoes, rolls and ice cream and other Norwegian desserts.  Adults $18.00 and children 10 and under $10.00.

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

Bremerton WA Real Estate Market Report Recap | October 2008

Authored By: Jo Soss : WestSoundLive.com

Here is the Real Estate Market Activity for January - October 2008. Check back each month to see the monthly 2008 trend for Bremerton WA.

On October 31st there were 570 homes for sale with 5 of those homes listed as a contingent sale and 34 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 x 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)

During the Month of October 91 homes were new to the Bremerton area Real Estate Market with a median price of $226,000.

During the Month of October 40 homes went under contract and were removed from the active Bremerton homes data base. The median price for Bremerton area homes was $208,400 with a market time of 97 days (median).

During the Month of October 78 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 110 days (median) and sold for a median price of $224,000.

 

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 31.67 weeks or approximately 7.30 months of inventory if the current conditions remain unchanged. These figures have increased. Remember absorption rates track trends.

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.

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

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

 

New might be better… 1st Time Homebuyer in Kitsap County.

You are a 1^st time homebuyer, should you purchase a new home with all the bells and whistles or should you settle for that tried and true “fixer-upper/equity builder”? This question is a tough one for many 1^st time homebuyers. Considering there is a $7,500 tax credit for homes closed prior to July of 2009 you have more research to accomplish than your parents did.

I never would have thought of owning a new home as a 1^st time homebuyer. It just wasn’t something you thought about in our income bracket. Oh, and our parents would have been screaming about working hard for what you had and that someday you would be able to have the shiny new house.

My first home was a fixer-upper, after a couple of years we sold and we did make a modest profit that enabled us to be “move-up buyers”. The second home was newer and really just needed an unfinished basement finished – easy yes, but with 2 toddlers and daycare bills the projects just didn’t seem to come to fruition.

The next home was a new construction home and after moving in and doing fencing and landscaping all we did was enjoy it. Yes, I do love a new home. So back to my question, should a 1^st time homebuyer purchase a new home – SURE, Why not?

Today, in Kitsap County the re-sale inventory between the $215,000 and $230,000 is filled with some junk, some “as-is”, some “no repair”, and some “equity building” garbage type of homes. There are several short sales that are over priced and some soon to be REO’s that are really “tear-downs”. So why not look at new?

In the Kitsap County area you can you can buy a new home in a new home community for right around $230,000. If you need help finding these homes just give me a call.

Between the years of 1995 and 2003 I worked exclusively the new construction “niche”. I was a buyer’s agent for several home builders in the South King County area. I know my way around a new construction site and the process of what would be considered the “pre-sale” type market. I have a strong background in construction, having learned the trade as a construction sales representative for a large building supply company that was called back then a “lumber yard”.

You won’t get all the bells you would like but you will be able to enjoy your new home purchase without feeling the pressure of attending a Lowe’s seminar every Saturday morning. Let me know how I can help.

New Construction in Kitsap County under $230,000

Currently there are 33 homes between the prices of $194,950 and $229,950 listed in different stages of construction. Some are offered as a pre-sale, some are listed as under construction and some are listed as complete and ready. There are 32 homes with 3 bedrooms and one home with 2. There are homes with 2.5 baths, 2.25 baths, 1.75 baths and 1 baths. If you would like the bath definitions just leave me a comment and I will send you the data.

Thursdays Things to Do:: Friday 7 | Saturday 8 | Sunday 9 | Out & About Kitsap County

Friday, November 7^th

6:00-8:00pm

Bainbridge Island

Bainbridge Island Art Walk An event in downtown Winslow in which Island businesses, artists, performers and volunteers share local arts and culture with residents and visitors.

Friday, November 7^th

5:00-8:00pm

Bremerton

Bremerton’s 1st Friday Art Walk Stroll the downtown Arts District - walking distance from the ferry. Entertainment & refreshments.

Friday, Saturday & Sunday (October 31st running through November 23rd)

Fridays & Saturdays at 8:00 PM; Sundays at 2:30 PM

Bremerton

Bremerton Community Theater Blithe Spirit, The ingenious plot begins when novelist Charles Condomine invites an eccentric, breezy lady medium into his placid country home in order to learn the language of the occult.

Friday, Saturday & Sunday (November 7^th, 8^th and 9^th )

10:00-5:00pm

Hansville
Indianola
Kingston
Poulsbo

Art In The Woods A self-guided tour of artists’ studios on the North Kitsap Peninsula, with several artists in many of the studios and demonstrations in some of the studios.

Contact:  Joan Wells - Cultural Arts Foundation NW 360.779.1420

Friday, November 7^th

6:30-8:00pm

Bremerton

Kitsap Historical Museum - What Kitsap Collects: A Unique Perspective From Bread Boxes to Beanie Babies; from Chrome to Coasters, it seems just about everyone collects something. Flamingos, Story Book Dolls, antique clothing … see the fun, interesting things County residents collect. FREE

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