WestSound Live! » Real Estate Market Talk

Naval Base Kitsap | Bangor Sub Base | PSNS – VA LOAN

Jo Soss — Wed, 28 Jul 2010 13:24:47 +0000

I am sure you have heard all the doom and gloom from a million different news reports concerning the lending industry mess, how several loan programs once available are no longer, how zero down loan programs are almost non-existent and how hard it is right now if you have little to zero money available for a down payment.

But wait; are you a military member or a veteran? If you are the news isn’t as bad. With your VA Guaranteed Home Loan benefit you can still obtain a loan with no down payment and a fixed interest rate that is as good as or better than a conventional mortgage rate. This is the time for a VA Loan! What a great benefit to those of you that have served our country!

What is a VA Guaranteed Home Loan?

Many have the misconception that the military is the organization loaning the money. No they are not. Your VA Guaranteed Home Loan will be made by a private lender, such as your bank or a mortgage company of your choosing that has VA lending approval.

The guaranty means the lender is protected if you fail to repay the loan. This is also why you will not have to pay private mortgage insurance (PMI) for a zero down loan (if you could find one). Normally a lender would require a down payment and/or PMI to obtain a loan, since the VA Home Loan has a guaranty which replaces these you will be able to obtain your loan without, but with the same financial terms as if you had made a down payment. The risk is removed for the lender when the VA gives them that guaranty.

Of course you still must meet income and debt requirements, your credit reports will be used and if there are items in your history that are derogatory you can be denied a loan even though you have your Certificate of Eligibility. The VA cannot demand a lender make a loan to you that would violate their lending practices.

Lenders also must comply with the VA rules and policies when it comes to income and credit standards. Just having the benefit is not enough, you must be credit worthy.

If a lender is unwilling to approve you for a loan the only thing the VA can do is suggest that you try other lenders.

It could just be the perfect time for you to purchase a home with your VA benefits. Interest rates are at all time lows and prices in the Kitsap area are amazing. There are some awesome deals out there. Now, remember that the housing market isn’t moving as fast as it was years past, so you must be able to stay in this home longer than that 3 yeas. So, if you have a plan to be here longer you just might want to jump at these low home prices.

Silverdale WA Real Estate | June Homes Sold 2010

Jo Soss — Tue, 27 Jul 2010 13:18:51 +0000

During the month of June there were 12 homes that sold in Silverdale. These Silverdale homes actually had a transfer of home ownership. Contracts complete and Lender funds available.

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 Port Orchard Washington.

Let’s look at those 12 Silverdale homes -

Average List Price

$340,044
$164 per sq ft

Average Sold Price

$312,804
$151 per sq ft

The average sq ft of these 12 Silverdale homes was 2078 sq ft. These homes spent an average of 93 days on the market (DOM) The list to sale ratio for these homes was 91.98 percent. What that meas is that buyers offered 91.98 of what the seller requested.

Not a bad time to purchase a home in Silverdale, Washington. Prices are down, interest rates are at an all time low you might want to look at what it means to you.

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.”

Port Orchard WA Real Estate | June Homes Sold

Jo Soss — Thu, 22 Jul 2010 12:55:53 +0000

During the month of June there were 78 homes that sold in Port Orchard. These Port Orchard homes actually had a transfer of home ownership. Contracts complete and Lender funds available.

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!

Let’s look at those 78 Port Orchard homes -

Average List Price

$240,390 [May -$246,917 - April -$246,162 -March -$245,815 February -$241,177 January - $245,351]
$127 per sq ft

Average Sold Price

$234,948 [May -$244,070 - April - $243,425 March -$241,747 February -$227,483 January -$239,603]
$124 per sq ft

The average sq ft of these 78 Port Orchard homes was 1893 sq ft. These homes spent an average of 116 days on the market (DOM) The list to sale ratio for these homes was 97.73 percent. What that meas is that buyers offered 97.73 of what the seller requested.

Not a bad time to purchase a home in Port Orchard, Washington. Prices are down, interest rates are at an all time low you might want to look at what it means to you.

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

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

Bremerton WA Real Estate | June Homes Sold 2010

Jo Soss — Thu, 15 Jul 2010 15:27:26 +0000

During the month of June there were 88 homes that sold in Bremerton. [zip codes: 98310, 98311, 98312, 98314, 98337]. 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!

Let’s look at those 88 Bremerton homes -

Average List Price

$217,283 [May- $199,895 -April- $197,429 - March -$202,739 - February -$220,258 - January -$203,640 December -$224,396]
$128

Average Sold Price

$209,182 [May-$195,044 - April -$192,860 - March -$198,231 - February -$213,465 - January -$201,166 - December -$218,171 ]
$123

The average sq ft of these 88 Bremerton homes was 1701 sq ft. These homes spent an average of 108 days on the market (DOM).

The list to sale ratio for these homes was 96.27 percent. What that meas is that buyers offered 96.24% of what the seller requested.

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”

Port Orchard WA Real Estate | May Homes Sold

Jo Soss — Tue, 15 Jun 2010 16:27:06 +0000

During the month of May there were 63 homes that sold in Port Orchard. These Port Orchard 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 Port Orchard Washington.

Let’s look at those 63 Port Orchard homes –
Average List Price

$246,917 [April $246,162 -March -$245,815 February -$241,177 January - $245,351]
$136 per sq ft

Average Sold Price

$244,070 [April - $243,425 March -$241,747 February -$227,483 January -$239,603]
$134 per sq ft

The average sq ft of these 63 Port Orchard homes was 1810 sq ft. These homes spent an average of 92 days on the market (DOM) The list to sale ratio for these homes was 98.84 percent. What that meas is that buyers offered 98.84 of what the seller requested. Not a bad time to purchase a home in Port Orchard, Washington. Prices are down, interest rates are at an all time low you might want to look at what it means to you.

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 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 WA Real Estate | May Homes Sold 2010

Jo Soss — Fri, 11 Jun 2010 16:59:54 +0000

During the month of May there were75 homes that sold in Bremerton. [zip codes: 98310, 98311, 98312, 98314, 98337]. 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!

Let’s look at those 75 Bremerton homes -

Average List Price

$199,895 [April- $197,429 March -$202,739 -February -$220,258 January -$203,640 December -$224,396 ]
$123

Average Sold Price

$195,044 [April -$192,860 March -$198,231 February -$213,465 January -$201,166 December -$218,171 December]
$120

The average sq ft of these 75 Bremerton homes was 1631 sq ft. These homes spent an average of 112 days on the market (DOM).

The list to sale ratio for these homes was 97.57 percent. What that meas is that buyers offered 97.57% of what the seller requested.

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.

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

Port Orchard WA Real Estate | April Homes Sold

Jo Soss — Sun, 23 May 2010 04:25:20 +0000

During the month of April there were 61. [25 less homes sold than in March] homes that sold in Port Orchard. These Port Orchard 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 Port Orchard Washington.

Let’s look at those 61 Port Orchard homes – Average List Price

$246,162 [March -$245,815 February -$241,177 January - $245,351]
$141 per sq ft

Average Sold Price

$243,425 [March -$241,747 February -$227,483 January -$239,603]
$139 per sq ft

The average sq ft of these 61 Port Orchard homes was 1811 sq ft. These homes spent an average of 94 days on the market (DOM) The list to sale ratio for these homes was 98.88 percent. What that meas is that buyers offered 98.88 of what the seller requested. Not a bad time to purchase a home in Port Orchard, Washington. Prices are down, interest rates are at an all time low you might want to look at what it means to you.

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

Bremerton WA Real Estate | April Homes Sold 2010

Jo Soss — Thu, 20 May 2010 19:40:52 +0000

During the month of April there were 73 homes that sold in Bremerton. [zip codes: 98310, 98311, 98312, 98314, 98337]. 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!

Let’s look at those 73 Bremerton homes -

Average List Price

$197,429 [March -$202,739 -February -$220,258 January -$203,640 December -$224,396 ]
$124

Average Sold Price

$192,860 [March -$198,231 February -$213,465 January -$201,166 December -$218,171 December]
$122

The average sq ft of these 73 Bremerton homes was 1633 sq ft. These homes spent an average of 113 days on the market (DOM).

The list to sale ratio for these homes was 97.69 percent. What that meas is that buyers offered 97.69% of what the seller requested.

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.

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

Silverdale WA Real Estate | April Homes Sold 2010

Jo Soss — Sat, 15 May 2010 18:58:34 +0000

During the month of April there were 15 (4 more than March) homes that sold in Silverdale. These Silverdale 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!

Let’s look at those 15 Silverdale homes that sold in April -

Average List Price

$270,356 [329,606 March, $286,570 February, $268,117 January, $318,570 December]
$123 per sq ft

Average Sold Price

$265,621 [$323,491 March, $281,970 February, $259,483 January,$308,880 December]
$121 per sq ft

The average sq ft of these Silverdale homes was 2192 sq ft. These homes spent an average of 79 days on the market (DOM). The list to sale ratio for these homes was 98.24 percent. What that meas is that buyers offered 98.24% of what the seller requested.

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

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.

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

Monday Market Watch – Bremerton | Silverdale | Port Orchard Real Estate 5/3

Jo Soss — Mon, 03 May 2010 13:30:51 +0000

Week threee – A weeks worth of market data for the Bremerton, Silverdale Port Orchard real estate community. Here is the real estate market data between Monday, April 26 through Sunday, May 2nd.

Each week I will give an update that will include the previous week, Monday through Sunday. Might be fun. My new IDX site (home search site) went live this last week, so I am able to embed in each post some new data. I thought this week I would put the listings that came on the market in the last 7 days.

Hope you have a great week! If you need any real estate help just let me know – call the office 360-830-6195, or my cell 360-990-1433 or send a text to 360-990-1433 or email me. I would love to help you with your real estate needs.

Bremerton Real Estate Market
Residential homes on the market – 486
Pending this last week – 33
Sold/Closed this last week – 21

Silverdale Real Estate Market
Residential homes on the market – 80
Pending this last week – 5
Sold/Closed this last week – 4

Port Orchard Real Estate Market
Residential homes on the market – 494
Pending this last week – 35
Sold/Closes this last week 20