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Real Estate Dashboard for April 2013

May 17, 2013 By Jeff Thompson Leave a Comment

April FAST FACTS

April active listings were 1294, up .8% compared to last year this time

376 new properties went under contract, 2.1% lower than April 2012

261 closings, 11.1% higher than last year this time

Average price of homes is $203,803, $4,093 higher than the same time in 2012

Months of Inventory was 5.0, compared to 5.5 months in April 2012

Inventory is up, pending sales are lower, and closed sales have increased

76 New Construction homes were sold

Current New Construction inventory is 215

This month we have added a new chart for you that shows the average days on the market for the different areas in the Tri-Cities. We can track the average days that homes are on the market before receiving an offer and also track them based on the location of the home. For example, the chart will show you that the average days on market for homes in Southeast Kennewick is 104, and homes in Central Kennewick is 63. There are a lot of reasons why some areas sell faster than others and some areas seem to go in cycles. Please take a moment to check out your area.

As far as the overall Tri-City market, once again steady is normal. Across the board our numbers showed very little change over April 2012. In fact, Active Listings, Under Contract and Average Sold Price were within ± three percent from last year. Kennewick General Hospital is moving forward in Southridge, Kadlec finished the Emergency Room Clinic on Hwy 395 and announced another clinic on Clearwater next to Winco and Benton Franklin Transit opened a new bust stop near the Southridge Sports Complex. A lot of activity continues to happen in the Tri-Cities.

If you have any real estate questions just call or drop us an email. We are happy to help.

Filed Under: Articles, Badger Mountain South, Benton City, Burbank, Central Richland, FSBO, For Buyers, For Sellers, Home Prices, Home Sales, Kennewick, Market Trends, New Construction, North Richland, Pasco, Pricing, Richland, South Richland, West Pasco, West Richland, buyers

Real Estate Dashboard for March 2013

April 16, 2013 By Jeff Thompson 1 Comment

March FAST FACTS

March active listings were 1243, up 1.4% compared to last year this time
407 new properties went under contract, 19.7% higher than March 2012
258 closings, 7.1% higher than last year this time
Average price of homes is $201,356, $4,753 higher than the same time in 2012
Months of Inventory was 4.8, compared to 5.1 months in March 2012
Inventory is up, pending sales are lower, and closed sales have increased
62 New Construction homes were sold
Current New Construction inventory is 204

SEQUESTER     FURLOUGH     NEW DOE SECRETARY     LEAKING TANKS?
With headlines like these, you might expect our market to slow down or go into hibernation. However, once again the Tri-Cities market showed its resilience. Buyer activity in March resulted in 407 offers made/accepted, the most sales in the Tri-Cities since April 2010 (the heyday of the Home Buyer Tax Credit Program). While the demand for homes has increased, the supply has remained “normal” for this time of year thus creating some shortages of inventory in select price ranges.

Money Magazine’s headline for April read “Housing is Back!”. Their research stated that 72% of the public believes that their home’s value will increase in 2013, with ¼ of them believing that it will appreciate more than 5%.

Tell us your opinion

Where do you think your home values are headed?
Just drop us an email at YourOpinion@GroupOnetricities.com

Filed Under: Articles, Badger Mountain South, Benton City, Burbank, Central Richland, For Buyers, For Sellers, Foreclosures, Home Prices, Home Sales, Homeownership, Investment, Kennewick, Market Trends, New Construction, Pasco, Richland, South Richland, West Pasco, West Richland, buyers

Real Estate Dashboard for December 2012

January 6, 2013 By Jeff Thompson Leave a Comment

DECEMBER FAST FACTS

• December active listings were 1204, up 12% compared to last year this time

• 217 new properties went under contract, 2.8% higher than December 2011

• 217 closings, 12.1% lower than last year this time

• Average price of homes is $211,230, up $10,699 from the same time in 2011

• Months of Inventory was 5.5, compared to 4.4 months in December 2011

• Inventory is up, pending sales are up, and closed sales are down slightly

• 53 New Construction homes were sold

•  Current New Construction inventory is 181

OUR COMMENTARY

As the national real estate market continued to show strong signs of recovery, our local Tri-Cities market continued its steady, consistent trend. December’s numbers were consistent with the overall 2012 activity. When we look year vs. year, our inventory is up over last year, our under contracts are up over last year and our average sold price is up. The trend looks good for 2013. Our local economy survived the workforce transition at the Hanford project and the uncertainty that comes from the Presidential election. There is a lot of interest in our area from not only local and regional investors but also from international investors. The Tri-Cities has room to grow, affordable home prices and a strong economy to support the growth. We see continued steady sales activity and see no pending increase in interest rates for 2013. Stay tuned.

Filed Under: Articles, Benton City, Burbank, Central Richland, Finley, For Buyers, For Sellers, Foreclosures, Home Prices, Home Sales, Kennewick, Market Trends, New Construction, North Richland, Pasco, Pricing, Richland, South Richland, West Pasco, West Richland

Festival of Lights

November 21, 2012 By Jeff Thompson Leave a Comment

Warm up with hot cocoa, coffee, cider and cookies while you enjoy the beautiful Christmas lights and decorations at the first annual Festival of Lights at Horn Rapids.

When: December 15th at 5pm
Where: Horn Rapids Community

View Map HERE

Filed Under: Articles, Central Richland, North Richland, Richland

Real Estate Dashboard for October 2012

November 6, 2012 By Jeff Thompson Leave a Comment

OCTOBER FAST FACTS

• October active listings were 1366, up 10.7% compared to last year this time

• 315 new properties went under contract, 5.4% higher than October 2011

• 270 closings, 16.1% higher than last year this time

• Average price of homes is $204,346, up $804 from the same time in 2011

• Months of Inventory was 5.1, compared to 6.1 months in September

• Inventory is up, pending sales are up, and closed sales are up 16.4%

• 74 New Construction homes were sold

• Current New Construction Inventory is 215

OUR COMMENTARY

With the holidays right around the corner, some sellers are trying to decide if they should even enter the real estate market yet this year. However, October’s numbers show that buyers are still buying, with an increase of over 5% in new contracts written vs. October 2011. Contact your local Realtor and ask about sales activity in your neighborhood. Buyer activity continues to remain strong, interest rates continue at record lows, and the turnover of inventory seems to be keeping the buyers’ attention. If a move is in your future and you are willing to work around the holiday season, it appears to be a good time to sell.

Filed Under: Central Richland, Home Prices, Home Sales, InfoGraphic, Kennewick, New Construction, North Richland, Pasco, Pricing, Richland, Short Sales, South Richland, West Pasco, West Richland

Windermere Community Service Day

June 14, 2012 By Jeff Thompson

Every year Windermere closes its offices for one day to help make a positive difference in our local communities. It all started in 1984 when a handful of Windermere owners and agents came together to make repairs at a Seattle-area elementary school. Nearly three decades and more than 800,000 hours of community service later, we’ve continued this tradition through neighborhood-enhancing projects in the areas where our Windermere teams live, work, and play.

Tomorrow, Friday, June 15, is our annual Community Service Day.  This year the Windermere Group One team will be working at Jubilee Youth Ranch. We’ll be planting a garden, painting, and helping with miscellaneous repairs to help them prepare for their annual fundraiser. We’ll also be sending a team to Rancho Reata for some clean-up and repairs to the horse trails.

For more information or if you have ideas for a project in your neighborhood, please contact Windermere Group One at 509-946-1188.

Follow our projects online at WindermereGroupOne.com/community-service-day

Filed Under: Articles, Badger Mountain South, Central Richland, Events, Finley, For Buyers, For Sellers, West Pasco, West Richland

Real Estate Dashboard for April 2012

May 16, 2012 By Jeff Thompson

Tri-Cities, April 2012

The Tri-Cities had 384 new properties go under contract in April 2012, up 22% from April 2011. As of the end of April 2012, active inventory was 1284, a 13.8% increase from April 2011. There were 231 closings in April 2012, compared to 255 in April 2011. Months of Inventory was 5.6, up from 4.4 in April 2011. The average price of homes sold April 2012 was $199,242, $3020 higher than the same time in 2011.

Our Commentary

The number of homes for sale continues to increase as the weather warms up. Historically, more homes come on the market during the spring and summer than other times of the year. We have a good variety of new and resale homes for sale, and interest rates continue to be at all-time lows. There is good buyer activity in our market, offers are being made and accepted by the sellers. Our struggle continues with getting the loans closed. We are seeing continued pressure on the lending institutions by government regulations and oversight. Unfortunately, we see this trend continuing throughout the summer. Overall, with good market activity and contracts being written and accepted, patience is still needed in getting transactions to closing.

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Filed Under: Articles, Badger Mountain South, Benton City, Burbank, Central Richland, Finley, For Buyers, For Sellers, Home Prices, Home Sales, Homeownership, Interest Rates, Investment, Kennewick, Market Trends, North Richland, Pasco, Pricing, Richland, South Richland, West Pasco, West Richland

Real Estate Dashboard for February 2012

March 15, 2012 By Jeff Thompson

Tri-Cities, February 2012

The Tri-Cities had 334 new properties go under contract in February 2012, up 19.7% from February 2011. As of the end of February 2012, active inventory was 1162, an 18.7% increase from February 2011, but consistent with inventory levels for the 4th quarter of 2011. There were 167 closings in February 2012, compared to 170 in February 2011. Months of Inventory was 7.0, up from 5.8 in February 2011. The average price of homes sold February 2012 was $203,108 up $4,666 from the same time in 2011.

Our Commentary

As we look at the market statistics, we still see consistent activity and excellent buyer traffic. Our biggest challenge is closing the properties. Lenders and underwriters continue to struggle closing transactions, forcing extensions on contracts, and in some cases, the cancellation of transactions. Great interest rates, increased inventory and affordable prices provide an excellent buying opportunity. Buyers just need to stay the course and be patient with their lenders to get their purchases closed.

For more information about homes for sale in Kennewick, Richland, West Richland, Pasco and the surrounding communities, please contact us.

Click Here for Your Real Estate Dashboard

Filed Under: Articles, Badger Mountain South, Benton City, Burbank, Central Richland, Events, FHA, Finley, For Buyers, For Sellers, Foreclosures, Home Prices, Home Sales, Homeownership, Interest Rates, Investment, Kennewick, Market Trends, Mortgage Payment, Negative Equity, North Richland, Pasco, Pricing, Richland, Shadow Inventory, Short Sales, Short Sales & Foreclosures, South Richland, Uncategorized, Upper End, Walking Away, West Pasco, West Richland

Real Estate Dashboard for January 2012

February 15, 2012 By Jeff Thompson

Tri-Cities, January 2012

The Tri-Cities had 245 new properties go under contract in January 2012, up 9% from January 2011. As of the end of January 2012, active inventory was 1128, an 18.2% increase from January 2011, but consistent with inventory levels for the 4th quarter of 2011. There were 152 closings in January 2012, compared to 161 in January 2011. Months of Inventory was 7.4, up from 5.9 in January 2011. The average price of homes sold January 2012 was $204,551 up $12,533 from the same time in 2011.

Our Commentary

The new year has started off strong and robust. Sales activity is very strong with 245 offers written and accepted in January. This is a nice increase from 2011, and over 100 more sales than January 2009.

Interest rates remain low and should stay there through the summer of 2013. We believe that owning a home will always be a great long term investment and an important part of a balanced investment portfolio.

For more information about homes for sale in Richland, West Richland, Pasco, Kennewick  and the surrounding communities, please contact us.

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Windermere Group One/Tri-Cities
490 Bradley Blvd.
Richland, WA 99352

Filed Under: Articles, Badger Mountain South, Benton City, Burbank, Central Richland, Dean Hartman, Events, FHA, Finley, For Buyers, For Sellers, Foreclosures, Home Prices, Home Sales, Homeownership, Interest Rates, Investment, Kennewick, Loans, Market Trends, Mortgage Payment, Negative Equity, North Richland, Option ARMs, Pasco, Pricing, Richland, Shadow Inventory, Short Sales, Short Sales & Foreclosures, South Richland, Strategic Defaults, Uncategorized, Upper End, Walking Away, West Pasco, West Richland

700 Happy Feet!

December 5, 2011 By Jeff Thompson

Windermere Group One has organized a shoe drive for children in Afghanistan. Our military doctors help teach English to the local children in Afghanistan. Through a family connection, the Group One office learned of the need for shoes for the children. Many of them are unable to participate in the education opportunity due to a lack of basic needs. The goal was to collect 100 pairs of new or gently used children’s shoes to ship to the Kandahar base in December, just in time for Christmas.

The participation in this drive was overwhelming! The agents and staff headed out to start the drive and were so encouraged they began to invite others too. Quickly, the boxes were filled and more were added. In tandem with the holiday spirit, the Dress Family representing Ranch and Home, learned of the effort and they, too, wanted to participate in the shoe drive.

The donation by Ranch and Home was HUGE! They were able to donate almost 200 pairs of brand new shoes! In all, Windermere Group One will be shipping approximately 350 pairs of shoes along with several dozen pairs of socks to many children a world away. In addition to the shoe drive, the Group One office is sponsoring two Tri City families for Christmas.


 
Windermere Group One thanks everyone for their participation and help!

 

Filed Under: Articles, Badger Mountain South, Benton City, Burbank, Central Richland, Dean Hartman, Events, FHA, Finley, For Buyers, For Sellers, Foreclosures, Home Delinquency, Home Prices, Home Sales, Homeownership, Interest Rates, Investment, Kennewick, Loans, Market Trends, Mortgage Payment, Negative Equity, North Richland, Option ARMs, Pasco, Pricing, Richland, Shadow Inventory, Short Sales, Short Sales & Foreclosures, Skills, South Richland, Strategic Defaults, Uncategorized, Upper End, Walking Away, West Pasco, West Richland
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