Real Estate Information

According to Realty Trac, the trusted national foreclosure trend reporting company, the June 2010 data shows that Washington State still ranks #15 in the list of 50 states with foreclosures, #1 being the state with the most foreclosures.  The data shows there were 5,020 properties in foreclosure in Washington State last month.  This number translates to 1 out of every 556 housing units in foreclosure.  The definition of Housing Units is "stick-built single-family houses, condominiums and townhouses."

Month's End, June 2010:

• King County had 1,615 properties in foreclosure, which means 1 out of every 515 housing units is in foreclosure.
• Pierce County had 923 properties in foreclosure, which means 1 out of every 348 housing units is in foreclosure.
• Snohomish County had 792 properties in foreclosure, which means 1 out of every 363 housing units is in foreclosure.

Our neighbors in Oregon had 3,843 homes in foreclosure which is 1 out of every 423 housing units in foreclosure.  Oregon ranks 22nd in the nation for homes in foreclosure.

Here are the top five states in the U.S. with properties in foreclosure, according to the data published this month by RealtyTrac.

1. California continues to have the largest number of properties in foreclosure in the U.S. with 69,114, which means 1 out of every 193 housing units is in foreclosure.
2. Florida had 51,550 properties in foreclosure, which means 1 out of every 170 housing units is in foreclosure. 
3. Michigan had 17,120 properties in foreclosure, which means 1 out of every 264 housing units is in foreclosure.   
4. Illinois had 14,732 properties in foreclosure, which means 1 out of every 358 housing units is in foreclosure.
5. Arizona had 14,424 properties in foreclosure, which means 1 out of every 188 housing units is in foreclosure.

Would you like to have a list of all the homes that are ABOUT to be foreclosed upon in any given ZIP code?  How about the top 5 hottest foreclosure or bank-owned homes for sale in King County?  Please contact me and I'll be happy to assist you - I'm here to help!

I have a friend who has endured many trials and terrible things, so it was wonderful to hear that Habitat for Humanity was building a house for him and his family last year.  My friend - we'll call him "Thomas" - escaped persecution from the Ivory Coast and moved to Kent, WA approximately five years ago.  He became a U.S. citizen and waited years for his wife and three children to escape and come to America.  Finally, after years of separation, they were able to legally join him here and we celebrated with them as his wife was granted citizenship and reunited with her loving husband.

Thomas asked me about purchasing a home for his growing family of six.  They were cramped in an apartment and he wanted to own a house he could be proud of and later pass down to his children.  Unfortunately, he couldn't buy a home with his income, so he patiently continued to rent for years.

I was so happy when I learned that Habitat for Humanity was building a house for him last fall!  There were certain approved dates that his friends could volunteer to work on his house or the neighboring house being built next to his future King County home.  Thomas needed a certain number of friends' volunteered hours in order to qualify for the home.  There were so many qualifications - one of which was that he must have a job by the time the home was completed (and for the closing date in July 2010).  Thomas is an incredibly smart man and has worked so hard to improve his skills through U.S. college education, but when he looks for work he's competing with so many other qualified individuals.

He had a job but it came to an end just a few weeks before he was to get the home.  It looked like he would lose the house because he was not employed. Thomas has many friends in the community supporting him and his efforts, and we felt like we were riding the roller-coaster with him.  We prayed earnestly, like we had when he was separated from his family, and were overjoyed when God granted him a job so he could get this house. So finally, in the eleventh hour he landed a good job and he was going to be able to purchase this home after-all!

I've really had to condense the story for my bog, so I hope I communicated Thomas' story well.  Here are some pictures I want to share with you from the Habitat for Humanity House Dedication Ceremony last month.  This is a special home built for a very special family.

Friends and volunteers gather for the Habitat for Humanity House Dedication Ceremony

Stephanie Dawson with the happy new Habitat for Humanity home-owners! "Thomas"'s wife is holding up the key charm and house shaped card I made for them.

I've blurred out the last name, but this is the card I made for them.  I enjoy making replicas of the homes my clients buy.  :)

Look at the size of the side yard!  This is going to be perfect for the four children and proud new home-owners.  It's the American Dream!!

I received the June data late and the July data on time, so I'm combining what would be two blog posts into one.  You've heard the buzz that mortgage interest rates are the lowest they've been since the 1950s.  With these charts below, you can compare and see the history - they speak for themselves!  The first chart is for June 2010 and the second is for July 2010. 

It's true - now is an excellent time to refinance or purchase a home.  Please let me know how I can be of service to you.

(click each chart)

On Tuesday, July 6th, volunteers from my John L. Scott KMS Kent North office and I had the privilege of serving dinner and dessert to families and staff of the Ronald McDonald House in Seattle.  This was our third time doing this, but from what I understand a John L. Scott office provides one meal at the RMcDH every week of the year.

The day began at 1:00 pm when some of us met at our office and carpooled to Costco to shop together.  After loading up our two cars with all the groceries, we caravaned to the Ronald McDonald House.

We arrived just before 3:00 pm with the rest of the volunteers from our office and began meal preparations.  We took a brief tour of the RMcDH house and I was even let into the supply room to look at the toiletry items.  Why was that so fascinating to me?  Since 2007, I've been running a toiletries drive for the Ronald McD House and with my blog readers, past clients, friends and family, we've donated lots of items to help the facility.  It was fun to see where all of our supplies go!

After preparing and serving the meal, we ate, packed up leftovers for the families and then cleaned up and sanitized everything.  Coincidentally, my friend's daughter was admitted to nearby Children's Hospital on Saturday (sadly, she seems to be admitted to the ER every holiday!), so I managed to visit her before visiting hours were over.  It was a long and fun day, and we all enjoyed helping and giving back!  We could not have provided this meal without John L. Scott KMS's generous managing broker Jim Willner and broker-owner Sol Avzaradel.

Jim Willner and I filmed some video snippets of the event and I made a little video montage for you.  It starts out shaky but gets more steady.  :) 

Volunteers were: Jim Willner, Rob Renner, Bonnie Stuart, Christie Merrill, Joan Posanke, Sarah Posanke (of Kentlake HS), Tanner Trial (of Kentlake HS), Shauna Monge, Darlene Figg, Caol Walker, Laura Draughon, Jan Cadice and Stephanie Dawson.

Well, last month's numbers weren't as bad as what some forecasters thought - but it also wasn't as good as some would like to have seen.  We had the lowest mortgage interest rates in decades in June, but it still wasn't enough to generate a record number of home sales.  I don't think think the numbers were bad at all, if you ask me.

Compared to May 2010, June 2010's pending sales were up 5.8 percent and closed sales were up 8.9 percent from May of this year and up by 617 transactions compare to June 2009.  Year-to-date through June, pending sales reported in the NWMLS are up 12.4 percent compared with the same time-frame last year.  In other promising news, Cowlitz, Grays Harbor, Lewis and Pacific counties all reported price increases from last June.  King County reported an increase in average and median home sale prices over last month.  This is definitely credited to the housing stimulus package.

The real estate community breathed a collective sigh of relief as Congress approved an extension of the closing date for the homebuyer tax credit, moving it from June 30th to September 30th, 2010.  Approximately 180,000 homebuyers would have lost out on the tax credit as they missed the June 30th closing deadline, due to making offers on short sales.

Homebuyers still have plenty of options when it comes to housing inventory.  10,354 new listings were added to the NWMLS, bringing the total to 42,940 homes to choose from.

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King County: 3,986 new listings; 13,793 active listings; 2,219 pending sales; 2,348 closed sales; average price of closed sales: $447,150; median price of closed sales: $348,725.

Pierce County: 1,494 new listings; 6,336 active listings; 946 pending sales; 925 closed sales; average price of closed sales: $245,510 median ­price of closed sales: $219,950.

Snohomish County: 1,497 new listings; 5,813 active listings 821 pending sales; 898 closed sales; average price of closed sales: $289,385; median price of closed sales: $267,750.

NWMLS: 10,354 new listings; 42,940 active listings; 5,547 pending sales; 5,763 closed sales; average price of closed sales: $335,050; median price of closed sales: $265,000.

Compare these numbers to last month's report.

Just a few short days ago we were complaining of the grey, drizzly July Fourth here in Seattle.  Some would say "Summer doesn't officially begin in Seattle until July 5th!"  That rang true this year - July 5th was sunny and mild; yesterday was very hot in the low 80's; and today we're expected to break a record (90+ degrees) at SeaTac, according to KING 5 News!  This heat streak is expected to continue for at least a week.

But I'm no weather expert.  This afternoon I'll bring you another blog post about June 2010's home sales in the Greater Seattle Area.  Until then, here is a list of places to cool off in Pierce County, if it gets too hot for you at home.  No pets, food or beverages are allowed in these Pierce County facilities.  Where to keep cool at a Cooling Center in Pierce County

If your pets are too hot, all PetCo stores are equipped with water bowls are invite you to bring your leashed or caged pet in to cool off.

Click here for a list of Cooling Centers in King County, including the hours of operation.  KING 5 NEWS reports that the Redmond Senior Center has opened their doors to the public.  You and your leashed pets are welcome to visit their air conditioned facility weekdays (8:30 am - 9 pm) or weekends (8:30 am - 4:30 pm).  They are generously offering free lemonade for people, and watering dishes and outdoor shade for pets.  The Redmond Senior Center is located at 8703 160th Avenue Northeast in Redmond, WA 98052-7510,  You may call them at (425) 556-2314.

STAY CALM AND KEEP COOL!

When I was a little girl growing up in King County, I looked forward to "Fireworks Day" each year.  I still don't know if that's only a term I use or if it's a real name for Independence Day.  If you're like me and you look forward to the bright colored lights in the sky, which remind us of our independence from England, keep reading this post.

Thanks to my friends at First American Title Insurance Co. for putting this list together for me - here is a list of some of the public fireworks displays around the Puget Sound area:

KING COUNTY

Auburn - Fireworks Spectacular at Emerald Downs www.EmeraldDowns.com

Seattle - Family Fourth at Lake Union (this is the one that we saved!) in downtown Seattle www.family4th.org 206-281-7788

SNOHOMISH COUNTY

Edmonds- An Edmonds Kind of 4th at Civic Playfield www.snohomish.org 425-670-1496

Everett- Colors of Freedom 4th of July at Legion Park & Harborview Park www.enjoyeverett.org

PIERCE COUNTY

Orting - Celebration & Fireworks www.ortingchamberofcommerce.com

Puyallup- Foursquare 4th of July City Blast at the Puyallup Fairgrounds www.thefar.com/events 253-848-9111

Steilacoom- Grand Old Fourth of July at LaFayette Street www.steilacoom.org 253-581-1076

Tacoma- 4th of July Fireworks Extravaganza at Ruston Way & downtown Tacoma www.freedomfair.com 253-326-444

Joint Base Lewis McChord- Freedom Fest at JBLM Cowan Stadium www.lakewood-chamber.com 253-967-5776

SNOHOMISH COUNTY

Centralia- Summerfest Demolition Derby & Fireworks at SW Washington Fairgrounds 360-330-0331

Olympia- July 4th BBQ & Fireworks at Nisqually Red Wind Casino http://www.redwindcasino.com/promotions/view.asp?ID=237

KITSAP COUNTY

Union - Alderbrook July 4th Fireworks (on July 3rd) at the Alderbrook Resort www.visitkitsap.com 360-898-2200

Port Orchard - 4th of July Sinclair Inlet Fireworks, visible from Bremerton, the Naval Shipyard and Port Orchard www.visitkitsap.com

Have a fun, happy and safe Independence Day weekend, everybody!!!

Like a handful of the story-lines on television, some of the drawn-out cliff-hangers are predictable.  As the drama ever-so-slowly unfolded in Washington, D.C., the cliff-hanger finally concluded.  The Wall Street Journal reports that last night Senate unanimously approved the extension of the Homebuyer Tax Credit closing date from June 30, 2010 to September 30, 2010.  President Obama is expected to sign the homebuyer measure.  This gives buyers who were under contract by April 30, 2010 an additional 90 days to close on their purchase.

As explained in yesterday's blog post, approximately 180,000 purchase contracts would have become ineligible for the tax credit if this timeline were not extended.  The reason those properties haven't closed yet, is they are short sale properties and thousands of buyers, sellers, mortgage lenders and real estate professionals are waiting to have their offer approved by the banks. 

My clients and I are happy about this extension.  They may not get to enjoy their new pool or big backyards in these summer months as we wait for a settlement date, but they should be able to move in as the school year starts and the new season of TV shows begins.

~ The End ~

We're Americans.  We write suspenseful books and screenplays; there's always a cliff-hanger when the season ends for TV shows; and there's always drama - lots of drama in our entertainment.  So why would the homebuyer tax credit be any different?

We saw the homebuyer tax credit repackaged and extended, extended again with even more benefits, and we waited with baited breath to see if there would be yet another extension.  In the last few weeks, there have been murmurs about there possibly being an extension to the June 30th deadline for homebuyers to close on their purchase.  JUNE 30TH IS TODAY!!  In order to be eligible for the tax credit, buyers had to have a valid written contract accepted by a seller on or before April 30, 2010.  They then had until June 30th to close on the property.

According the Inman News artcle, NAR estimates 180,000 buyers will no longer be eligible for their tax credit because they made offers on short sales which haven't closed yet.  I know my clients are being impacted by this - some of them had offers accepted in mid February and the bank still has not responded to their offers!  Short sales are listed at such affordable prices, many first time home buyers could not avoid looking at and falling in love with such listings.

After the cliff-hanger has been dragged out dramatically, yesterday in the eleventh hour House lawmakers passed a bill that would extend the closing to September 30, 2010 for for such buyers.  Listen to your radio and the news on TV for an update about HR 5623, "The Homebuyer Assistance and Improvement Act."  We are hoping the Senate will vote on this TODAY, despite grieving the death of Sen. Robert Byrd of West Virginia.

Will the pass it or won't they?  Stay tuned - this post is...

TO BE CONTINUED!

Listen up, Twilight fans! 

Kent Station's AMC movie theater is hosting a "VIP Twilight Experience" Tuesday, June 29th.  It will all kick off at 6:30 pm with a showing of the original Twilight movie.  After a short intermission, guests will return to their reserved seats to watch New Moon.  Following that, at midnight there will be a premier screening of the third movie in the Twilight series: Eclipse.

It costs $30 for this package and includes all three movies; a reserved seat; and a $10 concession coupon.  I am told that this is selling very quickly, so if you're a big Twilight fan and you're just now hearing about it, call (253) 850-2684 or stop by the AMC movie theater in person.