Bremerton WA Real Estate | February Homes Sold 2010

During the month of February  there were 42 homes that sold in Bremerton.   [zip codes: 98310, 98311, 98312, 98314, 98337].   That is the same number as January which was 40 homes less than December 2009. Not a good start to 2010!    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 42 Bremerton homes -

Average List Price

• $220,258 [$203,640 January $224,396 December]
• $125

Average Sold Price

• $213,465 [$201,166 January $218,171 December]
• $120

The average sq ft of these 42 Bremerton homes was 1781 sq ft. These homes spent an average of 113 days on the market (DOM).

The list to sale ratio for these homes was 96.91 percent. What that meas is that buyers offered 96.91% of what the seller requested.

Not a bad time to purchase a home in Bremerton, Washington. Prices are down, interest rates are at an all time low and with the incentives from the government you might want to look at what it means to you.  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

It is finally official. The hombuyer’s tax credit has been extended to April 30, 2010

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.

So what is the absorption rate at this point in time?  Check here for the definition of absorption rates – Absorption Rates

Using the formula and only including active and contingent homes on the market the absorption rate for February would be 10 months – ouch! We had been down to 5 months in the last quarter of 2009.  Of course remember we are looking at a trend, so as we go through 2010 we will get a better picture.  Hopefully, low number of closings in January is not a trend.  If we included the pendings the absorption rate would jump to 13 months of inventory!

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.

Bremerton Market Snap Shot – It’s almost Spring!

There are 23 days until Spring! There are 64 days until the extended first-time home buyer tax credit expires! Can you believe that!  Soon the first quarter of 2010 will be in the books! I thought that I would just look at some market data today and give you all an update for the Bremerton area.  This is East Bremerton, West Bremerton, Downtown and any address that has Bremerton listed as the city.

The Bremerton 2010 real estate market is of to just a little slower start than 2009. I think with the uncertainty of the economy the first quarter will close at the same or lower than 2009.

Are short sales effecting the market? I think that short sales effect neighborhoods more importantly than the market as a whole.  Currently in Bremerton there are 60 short sale properties.  That is just 13% of the total inventory.  There are 464 homes on the market in Bremerton right now.  The list price for these short sales averages to $221,655 with a 141 days on market.

What about Bank Owned properties? I have to tell you that some bank owned properties really tick me off.  For some reason some of the homes are listed below what the true market is and hence really can hurt a local neighborhood.  There are currently 30 bank owned homes on the market in Bremerton – just about 6.5% of the total inventory.  There are some real dogs out there – some that wouldn’t even be eligible for lender financing!  Bank Owned homes are hit and miss – maybe a good buy and maybe a nightmare!  These homes are listed for an average of $228,740 with 84 days on market.

To date in the Bremerton Real Estate Market  there have been 75 home sold and closed. These homes were listed with an average price of $211,432 and actually sold for an average sales price of $207,600 or 98% of list to sale ratio.  These homes were on the market for an average of 101 days.

In 2009 there were 86 homes sold in the Bremerton area for the same time period.  These homes were listed with an average price of $216,024 and actually sold for an average sales price of $209,272 or 96% list to sale ratio.

So, there you have a little Market Snap Shot – not real good news but not real bad news. You can contact me with any specific questions on specific properties.  I will gladly get you the information I have access to.

Bremerton WA Real Estate | January Homes Sold 2010

During the month of January  there were 42 homes that sold in Bremerton.   [zip codes: 98310, 98311, 98312, 98314, 98337].   That is 40 homes less than December 2009. Not a good start to 2010!    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 42 Bremerton homes -

Average List Price

• $203,640 [$224,396 December]
• $130

Average Sold Price

• $201,166 [$218,171 December]
• $129

The average sq ft of these 42 Bremerton homes was 1623 sq ft. These homes spent an average of 94 days on the market (DOM).

The list to sale ratio for these homes was 98.83 percent. What that meas is that buyers offered 98.83% of what the seller requested.

Not a bad time to purchase a home in Bremerton, Washington. Prices are down, interest rates are at an all time low and with the incentives from the government you might want to look at what it means to you.  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

It is finally official. The hombuyer’s tax credit has been extended to April 30, 2010

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.

So what is the absorption rate at this point in time?  Check here for the definition of absorption rates – Absorption Rates

Using the formula and only including active and contingent homes on the market the absorption rate for January would be 10 months – ouch! We had been down to 5 months in the last quarter of 2009.  Of course remember we are looking at a trend, so as we go through 2010 we will get a better picture.  Hopefully, low number of closings in January is not a trend.  If we included the pendings the absorption rate would jump to 13 months of inventory!

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.

Bremerton Real Estate 2009 Market Reports

Bremerton Real Estate | Homes Sold Past

Bremerton Real Estate | Homes Sold Past 2006-2007-2008-2009

Home prices in Bremerton continue to adjust to the changing market in Kitsap County.  The median selling price of a Bremerton home in December was $206,000 and in 2007 the median home price was $242,950.

While sell numbers for the year were stronger than 2008 it is still too soon to say the market has bottomed out.  We still have an issue with the many short-sale properties on the market that may lead to more foreclosures.

I think the market is trying to recover but with the number of short sales and foreclosures that are expected to grow in 2010 and 2011 it will be a struggle.  Unless we can get banks to price their properties at current market value they will continue to drag the market down.

Currently in the Bremeton home market there are 59 short-sales and 36 foreclosed on homes for sale.  This represents 22% of the total inventory which is 425 homes on the market.  Because of these distressed properties prices may continue to slide.  The problem being the appraisal process and what these distressed properties once they have sold do to the market value of a neighborhood.

The local Bremerton home inventory has decreased dramatically over the last 18 months and is getting closer to what would be considered a more balanced market. There is currently approximately 5 months of inventory which, a few months back was almost 12.  Still a buyer’s market but with niche seller’s markets in certain price ranges.  The first-time home buyer markets can and have seen multiple offers on certain properties.

With the continuing and expanded tax credit and 40 year low interest rates the Bremerton market will continue to improve because of the typical lower prices than the rest of Kitsap County.

It may take a decade to get back to a steady rise of annual 3-5% rise in home values, but a home is still a good investment lending to benefits in other parts of your financial situation like interest deduction.

The bar chart below shows how many homes sold by month and year for 2006 through 2009.  The numerical chart below shows the actual numbers.

The following bar chart shows the average and median sold prices for the same years along with the days on market which is how many days it took the homes to sale.

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.

Bremerton WA Real Estate | December Homes Sold 2009

During the month of December  there were 82 homes that sold in Bremerton. That is just 2 less than in November.   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 82 Bremerton homes -

Average List Price

• $224,396 [$215,012 November]
• $133

Average Sold Price

• $218,171 [$210,430 in November]
• $130

The average sq ft of these 82 Bremerton homes was 1703 sq ft. These homes spent an average of 103 days on the market (DOM).

The list to sale ratio for these homes was 97.22 percent. What that meas is that buyers offered97.22% of what the seller requested.

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

It is finally official. The hombuyer’s tax credit has been extended to April 30, 2010

• $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.

Bremerton Real Estate 2009 Market Reports

• Bremerton Real Estate | February Homes SOLD
• Bremerton Real Estate | March Homes SOLD
• Bremerton Real Estate | April Homes SOLD
• Bremerton Real Estate | May Homes SOLD
• Bremerton Real Estate | June Homes SOLD
• Bremerton Real Estate | July Homes SOLD
• Bremerton Real Estate | August Homes SOLD
• Bremerton Real Estate | September Homes SOLD
• Bremerton Real Estate | October Homes SOLD
• Bremerton Real Estate | November Homes SOLD

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

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DISCLOSURE OF MATERIAL CONNECTION: http://cmp.ly/0

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Bremerton First Time Home Buyers | Tax Credit Deadline

If you are a first time home buyer looking to purchase a home in Bremerton, now may be the perfect time.  Interest rates are low and home prices have declined to a very first time home buyer affordable level.  You also can take advantage of the extended first time home buyer tax credit.  But don’t dally because  you must find a home and be in a contract prior to April 30, 2010 with the closing taking place by June 30, 2009.  You don’t want to wait till the final hour!  There will be a huge rush for closings in June so there will be a huge “line” to the recorders office!  I really think that you have to give everyone in the process a chance to do their job correctly so I really think that a 40 day close is much more realistic than a 30 day close.

Right now in the West Bremerton, East Bremerton and Manette are of Bremerton there are 48 homes available with the following criteria.  If you want to see a list of these homes with photos just let me know and I can email you the MLS list – no spam, no questions asked.

Price 180,000 to 220,000

Bedrooms 3.00 or more   

Bathrooms 1.75 or more

Structure 1300 or more

It is finally official. The homebuyers’ tax credit has been extended to April 30, 2010.

Bremerton Homes Sold 2009 Recap

Here are the links to the 2009 Bremerton Market Reports.  Of course I still have December to report and that will be sometime this coming week.  I will update this post when that happens.  I think I might take each month and put into a bar graph to add to the posts so that you can see the data at a quick glance.  If you have any questions or comments please feel free to leave them here or contact me privately I will be more than happy to get you more data if that is what you are looking for, or to explain this data.  Here’s to a strong 2010!

January 2009

February 2009

March 2009

April 2009

May 2009

June 2009

July 2009

August 2009

September 2009

October 2009

November 2009

December 2009

Bremerton WA Real Estate | November Homes Sold

During the month of November there were 84 homes that sold in Bremerton. That is 16 more homes sold than in October. Seems odd since the NWMLS has reported such a surge in October Puget Sound wide due to the then planned end date of the first time home buyer tax credit. 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 84 Bremerton homes -

Average List Price

• $215,012 [$203,933 in October]
• $127 [$132 per sq ft in October]

Average Sold Price

• $210,430 [$202,524 in October]
• $125 [$132 per sq ft in October]

The average sq ft of these 84 Bremerton homes was 1732 sq ft. These homes spent an average of 96 days on the market (DOM). Down about 20 days from October

The list to sale ratio for these homes was 97.87 percent. What that meas is that buyers offered 97.87% of what the seller requested.

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

It is finally official. The hombuyer’s tax credit has been extended to April 30, 2010

• $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.

Bremerton Real Estate 2009 Market Reports

• Bremerton Real Estate | February Homes SOLD
• Bremerton Real Estate | March Homes SOLD
• Bremerton Real Estate | April Homes SOLD
• Bremerton Real Estate | May Homes SOLD
• Bremerton Real Estate | June Homes SOLD
• Bremerton Real Estate | July Homes SOLD
• Bremerton Real Estate | August Homes SOLD
• Bremerton Real Estate | September Homes SOLD
• Bremerton Real Estate | October Homes SOLD

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

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DISCLOSURE OF MATERIAL CONNECTION: http://cmp.ly/0

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Bremerton WA Real Estate | October Homes Sold

During the month of October there were 68 homes that sold in Bremerton.   That is 14 homes less than in September.  Seems odd since the NWMLS has reported such a surge in October Puget Sound wide due to the then planned end date of the first time home buyer tax credit.   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 68 Bremerton homes -

Average List Price

• $203,933
• $132 per sq ft

Average Sold Price

• $202,524
• $132 per sq ft

The average sq ft of these 68 Bremerton homes was 15701 sq ft.  These homes spent an average of 132 days on the market (DOM).

The list to sale ratio for these homes was 99.31 percent.  What that meas is that buyers offered 99.31% of what the seller requested.

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

It is finally official. The hombuyer’s tax credit has been extended to April 30, 2010

• $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.

Bremerton Real Estate 2009 Market Reports

• Bremerton Real Estate | February Homes SOLD
• Bremerton Real Estate | March Homes SOLD
• Bremerton Real Estate | April Homes SOLD
• Bremerton Real Estate | May Homes SOLD
• Bremerton Real Estate | June Homes SOLD
• Bremerton Real Estate | July Homes SOLD
• Bremerton Real Estate | August Homes SOLD
• Bremerton Real Estate | September Homes SOLD

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

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DISCLOSURE OF MATERIAL CONNECTION: http://cmp.ly/0

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Bremerton WA Real Estate | September Homes Sold | Homes Sold in Bremerton WA 2009

During the month of September there were 82 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 82 Bremerton homes -

Average List Price

• $235,309
• $136 per sq ft

Average Sold Price

• $2228,774
• $132 per sq ft

The average sq ft of these 82 Bremerton homes was 1804 sq ft.  These homes spent an average of 125 days on the market (DOM).

The list to sale ratio for these homes was 97.22 percent.  What that meas is that buyers offered 97.22% of what the seller requested.

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.

Bremerton Real Estate 2009 Market Reports

• Bremerton Real Estate | February Homes SOLD
• Bremerton Real Estate | March Homes SOLD
• Bremerton Real Estate | April Homes SOLD
• Bremerton Real Estate | May Homes SOLD
• Bremerton Real Estate | June Homes SOLD
• Bremerton Real Estate | July Homes SOLD
• Bremerton Real Estate | August Homes SOLD

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

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