Windermere Real Estate/BI, Inc.
From June through Labor Day, the summer real estate activity was a little crazy (it still is really). And when I am crazy busy at work, my blog does not get the attention it deserves. Thanks for sticking with me. I was VERY fortunate to work with some amazing families this summer, many who are new to the island, and loving the island change of pace. And now that school has started, I am getting reports that they are more than happy with our fabulous school district too.
Our summer weather is sticking with us (big hurrah!) and we are all hoping that the dry weather will inspire some sellers to put their homes on the market this fall. Our inventory is very low. We could use an infusion of fresh new listings. Buyers, happy about the low interest rates, are certainly ready to pounce. As of today there are only 157 active listings on the island.
To give you an idea of our summer activity, check out the graph below – a good graph is worth a thousand words. The numbers represent total closed sales. The activity seen below has resulted in:
1. More Multiple Offers . . . simple function of supply and demand. If a desirable listing hits the market, it will typically go pending within the first two weeks, but we are also seeing multiple offers come in on homes that have been on the market a year. . . which always makes me shake my head. But, people want what other people want, I guess is one explanation.
2. Price increases . . . (especially in certain price ranges – $400-500k being a prime example). In August of this year the median price home was $530k, vs. $469k just one year ago. This is also, of course, a direct result of #1 above. If three people want a house, the price just went up . . .
3. Deals flipping . . . meaning a buyer backs out during escrow. You tend to see more flipping when things are moving fast and buyers act quickly and then have second thoughts.
Time will only tell how fall and 4th quarter will measure up. But, I think our low inventory will likely keep things interesting, and although some of our sales volume will surely taper off as the holidays approach, my bet is, based on the number of buyers still out in the market looking at houses, our 4th quarter data will show marked improvement over 2011.
I have gotten a lot of inquiries about where to run-on the island, so I thought this repost was timely.
When I moved up to the Northwest I thought I was going to have to join a gym to continue exercising. I ran in California, but I thought there was no way I could run year round up here. In reality, I run much more regularly here than I did in California. It has been a very cold winter, but I have enjoyed it because I think the cooler weather is great for running. And, even though I do not like running in heavy rain (and I do try to avoid it – at all cost) there are so many windows when it is not raining, I have not had a problem running through the four winters I have lived here. And, the scenic running spots below, make it easier to get motivated.
Battle Point Park is my favorite running course, for several reasons, the main one being that it is FLAT. The park has a 1.5 mile loop that is mostly paved. I run two loops, sometimes three when have the time and the energy. I love that the park is open and I find the bunnies, ponds, and ducks visually interesting, not to mention other joggers and dogs. I was there yesterday and even though it was a little drizzly, I found it fine running weather. But, since it had been raining heavily the rest of the day, the park was pretty empty. On the weekend the park can fill up and you may have to dodge cyclists and jogging strollers, but during the week the trail is wide open.
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This is another course that is flat and a little more scenic than Battle Point Park. If you park at the boat launch at Fort Ward, you can run along the water on the paved path to the base of Toe Jam Hill and back, which is about three miles. On this run, there are beautiful waterfront homes to look at, the Bremerton Ferry going by, and the sea lions hanging out around the salmon hatchery. Since Fort Ward is on the south end, it is also usually a sunny spot, when the skies are clear.
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Because I like to run and listen to music on my iPod, I usually stay off the open road, for safety. But sometimes, for a change of pace and on really amazingly sunny days, I like to run out on Point White Drive. A great run is from the Point White Pier to the Treehouse Cafe’. One way is 2.3 miles, and of course 4.6 out and back. Starting at the Pier you can run to Treehouse and take a break, if so desired. The run is scenic for the Bremerton Ferry, other marine traffic, and amazing waterfront homes. Point White Drive is seldom busy, especially mid-day. And on striking days, I don’t need my iPod anyway, I just soak up the local sights.
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