Real Estate Market Conditions https://www.newhomesdirectory.com/Washington/Bothell/Real-Estate-Market/ Wed, 06 Jul 2016 00:00:00 GMT Wed, 06 Jul 2016 00:00:00 GMT en-us November 2011 Bothell Real Estate Market Conditions https://www.newhomesdirectory.com/Washington/Bothell/Real-Estate-Market/November2011BothellRealEstateMarketConditions/ <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><font face="Calibri">The trend of reduced number of homes for sale and increasing sales activity continues as we move into the winter months. <span style="mso-spacerun: yes">&nbsp;</span>Historically, my busiest months of the year are November, December, and January.<span style="mso-spacerun: yes">&nbsp; </span>Educated and informed Buyers look to purchase in the winter months before spring price increases and the competition of a greater number of home shoppers.<span style="mso-spacerun: yes">&nbsp; </span>In the Bothell area once summer arrives and the kids are out of school the real estate market slows to a crawl.<span style="mso-spacerun: yes">&nbsp; </span>Our summers are so beautiful that families are too busy playing and vacationing to shop for a new home.<span style="mso-spacerun: yes">&nbsp; </span></font></p> <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><font face="Calibri">In November there are 488 homes currently for sale vs. 524 in October. <span style="mso-spacerun: yes">&nbsp;</span>123 homes sold vs. 96 in October.<span style="mso-spacerun: yes">&nbsp; </span>Of the 488 active listings the median list price is $319,475.<span style="mso-spacerun: yes">&nbsp; </span>The median sales price was $312,000. with an average market time of 71 days.</font></p> <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><font face="Calibri">This is the time for sellers who will be listing their homes in 2012 to get ready and list now as soon as you can.<span style="mso-spacerun: yes">&nbsp; </span>It is taking longer to sell a home in this market and you do not want to be waiting throughout the entire summer.<span style="mso-spacerun: yes">&nbsp; </span>The objective is to reduce your market time and therefore reduce the disruption to your family and your lives. <span style="mso-spacerun: yes">&nbsp;</span>The way to do that is price your home correctly from the get go.<span style="mso-spacerun: yes">&nbsp; </span>Price is the number 1 consideration in a Buyer’s market and you only get one opportunity to be a new listing with that new listing excitement and you will miss that opportunity with a home that priced too high.</font></p> Mon, 05 Dec 2011 00:00:00 GMT October 2011 Bothell Real Estate Market Conditions https://www.newhomesdirectory.com/Washington/Bothell/Real-Estate-Market/October2011BothellRealEstateMarketConditions/ <p style="MARGIN: 0in 0in 10pt; tab-stops: 202.5pt" class="MsoNormal"><span style="FONT-FAMILY: 'Times New Roman','serif'">There is a quiet shift happening in the real estate market and most consumers don’t see it yet.<span style="mso-spacerun: yes">&nbsp; </span>While it <i style="mso-bidi-font-style: normal">seems</i> as though homes are languishing on the market and there is an excess of inventory, lots of foreclosures and REO properties, the reality is we have reached a time where the number of homes that move to pending is almost twice that of new listings just about daily.<span style="mso-spacerun: yes">&nbsp; </span>New foreclosure/REO inventory has slowed as have new short sale listings.<span style="mso-spacerun: yes">&nbsp; </span>Combine that with no new construction to speak of built in the last 3 years and I believe we are quietly entering a housing shortage.<!--?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /--><o:p></o:p></span></p> <p style="MARGIN: 0in 0in 10pt; tab-stops: 202.5pt" class="MsoNormal"><span style="FONT-FAMILY: 'Times New Roman','serif'">In Bothell the number of new listings is steadily trending downward.<span style="mso-spacerun: yes">&nbsp; </span>There are 524 active homes on the market at the median price of $319,950.<span style="mso-spacerun: yes">&nbsp; </span>October had 96 closed sales, average of 62 days on market and a median sales price of $279,970.<o:p></o:p></span></p> <p style="LINE-HEIGHT: normal; tab-stops: 202.5pt" class="MsoNormalCxSpMiddle"><span style="FONT-FAMILY: 'Times New Roman','serif'">The rule of thumb measuring the housing market continuum is 6 months or less of inventory is a seller’s market pushing prices upward, 7 to 8 months of inventory is a balanced or transitioning market and 9 months or more of inventory is a buyer’s market with prices trending down.<span style="mso-spacerun: yes">&nbsp; </span>We are seeing decreasing inventory levels particularly in the $250,000. and below price range.<o:p></o:p></span></p> <p style="LINE-HEIGHT: normal; tab-stops: 202.5pt" class="MsoNormalCxSpMiddle"><span style="FONT-FAMILY: 'Times New Roman','serif'"><o:p></o:p></span></p> <p style="LINE-HEIGHT: normal; tab-stops: 202.5pt" class="MsoNormalCxSpMiddle"><span style="FONT-FAMILY: 'Times New Roman','serif'">The good news is decreasing inventory = increased demand.<span style="mso-spacerun: yes">&nbsp; </span>Increased demand = stabilizing even increasing home values.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p> <p style="LINE-HEIGHT: normal; tab-stops: 202.5pt" class="MsoNormalCxSpMiddle"><span style="FONT-FAMILY: 'Times New Roman','serif'">There is already demand for homes in Bothell.<span style="mso-spacerun: yes">&nbsp; </span>Google is moving to Bothell bringing 840 jobs.<span style="mso-spacerun: yes">&nbsp; </span>The new Safeway complex opening Nov 11 <span style="COLOR: #262626">will feature a 150,000-square-foot shopping center, 50,000-square-foot Safeway and six shop buildings with approximately 40,000 square feet of retail space. </span></span><span style="FONT-FAMILY: 'Times New Roman','serif'; mso-ansi-language: EN" lang="EN">The new center Lakeside at Canyon Park will be located at the southwest corner of 240th Street and Everett – Bothell Highway.</span><span style="FONT-FAMILY: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman'"><span style="mso-spacerun: yes">&nbsp; </span>Parking will also be planned out with a 2-level parking facility in the center of the development. This has been a long planned project for Bothell. <span style="mso-spacerun: yes">&nbsp;</span>The new downtown core re-development project is well underway as well as numerous road improvements.<span style="mso-spacerun: yes">&nbsp; </span>All positive trends for homeowners.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p> Thu, 03 Nov 2011 00:00:00 GMT Fall Trends in Bothell Real Estate https://www.newhomesdirectory.com/Washington/Bothell/Real-Estate-Market/FallTrendsinBothellRealEstate/ <P style="MARGIN: 0in 0in 10pt" class=MsoNormal><FONT face=Calibri>I look forward to Fall…. Yes, even though we had virtually no summer weather to speak of this year, fall is a time for sales activity to begin again. <SPAN style="mso-spacerun: yes">&nbsp;&nbsp;</SPAN>Contrary to popular belief July and August are slow months in real estate.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>In our area when the sun comes out families want to spend it outside, having fun enjoying summer activities.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Open houses which have had more traffic than usual are always slower in the summer than fall and spring.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Historically, my busiest months are November, December and January.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>The holidays don’t stop homebuyers, never have. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p></FONT></P> <P style="MARGIN: 0in 0in 10pt" class=MsoNormal><FONT face=Calibri>While this is good news for the sellers that think they missed their opportunity to market their homes this summer, buyers should be aggressively pursuing their purchase. <SPAN style="mso-spacerun: yes">&nbsp;</SPAN>The tide has already turned from the ridiculously strong buyers’ market to a more even market.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Sellers have begun to re-consider concessions requested by buyers in their offers even saying no and this includes corporate and bank owned real estate. <o:p></o:p></FONT></P> <P style="MARGIN: 0in 0in 10pt" class=MsoNormal><FONT face=Calibri><SPAN style="mso-spacerun: yes">&nbsp;</SPAN>The competition for well-priced homes that are move-in or close to move in ready is strong.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>This in turn will begin to push home values up which will start the cycle back toward a sellers market. <SPAN style="mso-spacerun: yes">&nbsp;</SPAN><SPAN style="mso-spacerun: yes">&nbsp;</SPAN><SPAN style="mso-spacerun: yes">&nbsp;</SPAN><o:p></o:p></FONT></P> <P style="MARGIN: 0in 0in 10pt" class=MsoNormal><FONT face=Calibri>In Bothell there are 549 homes currently for sale. The median list price is $324,925. 120 homes sold in September with the median sales price of $317,400.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>The average days on market from list date to an acceptable offer received is 85.<o:p></o:p></FONT></P> Sun, 09 Oct 2011 15:13:38 GMT August 2011 Real Estate Market Trends https://www.newhomesdirectory.com/Washington/Bothell/Real-Estate-Market/August2011RealEstateMarketTrends/ <P style="MARGIN: 0in 0in 10pt" class=MsoNormal><FONT face=Calibri>Housing activity is up, WAY up. <SPAN style="mso-spacerun: yes">&nbsp;</SPAN>According to the Northwest Multiple Listing Service, August now ranks as this year’s BEST month for pending and closed sales around Washington State with a gain of more than 26% from August 2010.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN><SPAN style="mso-spacerun: yes">&nbsp;</SPAN><SPAN style="mso-spacerun: yes">&nbsp;</SPAN><SPAN style="mso-spacerun: yes">&nbsp;</SPAN><SPAN style="mso-spacerun: yes">&nbsp;</SPAN><SPAN style="mso-spacerun: yes">&nbsp;</SPAN><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;</SPAN><SPAN style="mso-spacerun: yes">&nbsp;</SPAN><SPAN style="mso-spacerun: yes">&nbsp;</SPAN><?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p></FONT></P> <P style="MARGIN: 0in 0in 10pt" class=MsoNormal><FONT face=Calibri>The month of August 2011 has 432 homes currently for sale.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>135 homes sold with an average of only 79 days on market to receive an accepted offer.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>The median price of homes for sale is $325,000. The median price of homes sold is $288,000.<o:p></o:p></FONT></P> <P style="MARGIN: 0in 0in 10pt" class=MsoNormal><FONT face=Calibri>Driving to the gym this week I was surprised and encouraged by the number of construction projects well under way.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>I have to admit I was a little peeved as well by the delays I encountered just getting across town.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>The whole town seems torn up by the new construction commercial and residential projects – LARGE building projects, road and infrastructure improvements, the new Safeway retail and residential development, not to mention the entire downtown revitalization underway.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>It is like a dam broke loose this summer in Bothell.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>It is safe to say a year from now you will hardly recognize what used to be the small town of Bothell. <SPAN style="mso-spacerun: yes">&nbsp;</SPAN>As a matter of fact, when I moved from Seattle to Bothell 20 years ago, Bothell was out in the “sticks”.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>All farms, cows, horses and swamps. <SPAN style="mso-spacerun: yes">&nbsp;</SPAN>Not any longer.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>It is a popular city to live, work and play in.<o:p></o:p></FONT></P> Sat, 10 Sep 2011 13:18:15 GMT Mid-Year Pending Sales Surpass Year-ago Levels https://www.newhomesdirectory.com/Washington/Bothell/Real-Estate-Market/MidYearPendingSalesSurpassYearagoLevels/ <P style="MARGIN: 0in 0in 10pt" class=MsoNormal><FONT face=Calibri>2011 mid-year review indicates continuing double digit gains in home sales.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Overall May was a turn-around month for Bothell.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>May 2011 pending sales were up 14% over May 2010 and June 2011 was up 35% over June 2010.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>The good news is: activity is up and falling prices are slowing, even <I style="mso-bidi-font-style: normal">rising </I>in some areas.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p></FONT></P> <P style="MARGIN: 0in 0in 10pt" class=MsoNormal><FONT face=Calibri>Bothell has 616 active listings for sale.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>In July there were 130 homes sold, 103 single family residences and 27 condominium homes.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Average market time was 84 days for a seller to receive an acceptable offer.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>The median price of homes currently for sale is $349,950 for SFR and $165,000 for condos.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>The median price of homes sold in July was $330,000 for SFR and $210,000 for condos.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Sale prices were an average of 95% of the asking price.<o:p></o:p></FONT></P> <P style="MARGIN: 0in 0in 10pt" class=MsoNormal><FONT face=Calibri>There is a definite shift in the market. <SPAN style="mso-spacerun: yes">&nbsp;</SPAN>Market forces of low supply and high demand are changing buyer and seller attitudes in many neighborhoods.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>This is good news for sellers and should be sending a warning to buyers sitting on the fence.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>The encouraging news is there is momentum building without the government support we have had in the past.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Well priced homes are selling fast and we are seeing multiple offers again, something we haven’t seen a years.<o:p></o:p></FONT></P> <P style="MARGIN: 0in 0in 10pt" class=MsoNormal><FONT face=Calibri>From the beginning Bothell has been a riverfront community of strong, hard-working people.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>It is spread over north King and south Snohomish counties.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>It consists of many unique neighborhoods from downtown to popular Canyon Park to Norway Hill and others.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Bothell is located in the midst of SR 522, Hwy 9, I 405 and I 5 making it a commuters dream.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;</SPAN><SPAN style="mso-spacerun: yes">&nbsp;</SPAN><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;</SPAN></FONT><o:p></o:p></P> Mon, 08 Aug 2011 09:14:34 GMT