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Apr
30
Posted by James Lupori
In a sentence: Kenmore is experiencing a buyer’s market. Sales are down 38% compared to a year ago and average days-on-market have risen to 122 days, a dramatic increase over last year. Currently, Kenmore is saturated with inventory. As of today, 4/30/08:
-There are 178 active single family homes for sale, up from 162 last month. 52% of the active homes have reduced their prices. 38% of active homes are new construction.
- $299,000 - $399,000 30 homes
- $400,000 - $499,000 28 homes
- $500,000 - $599,000 52 homes
- $600,000 - $699,000 37 homes
- $700,000 - $999,999 23 homes
- $1 million + 8 homes
-48% of the 25 pending sales today are new construction
-A total of 33 homes have sold since Feb. 1st which is good news; however, the sale price averages 95% of list.
What does this mean? It means that if you’re a buyer with some financial strength, now’s a good time to be looking for a bargain (they’re out there!). If you intend to sell your home in the current market, you’ll need to price your home very well in order to attract buyers!
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Apr
29
Posted by James Lupori
Most of us have heard of the 16th Century Pharmacist/seer Nostradamus who has been credited with the prediction of wars, Hitler, natural disasters, etc.. Unfortunately (or fortunately) he didn’t have much to say about the current real estate situation. So who do you turn to for an opinion about the future of real estate? When it comes to real estate I like to ponder the predictions of economists. OK, I know what you’re thinking: Yikes, economists have predicted the last 17 recessions that never happened! Worse yet, economics is the “dismal science!” Fair enough. In fact, one should be wary about all the economic information out there. Lots of it is unreadable, boring and, frankly, wrong. Nevertheless, I have attached a link to an economist who actually got it right. His name is Michael Hudson and he wrote an article in the May 2006 issue of Harper’s Magazine entitled “The New Road to Serfdom.” Please take a look at it. I received permission from Dr. Hudson himself to offer this piece to you.
http://www.michael-hudson.com/articles/debt/Hudson,RoadToSerfdom.pdf
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Apr
26
Posted by James Lupori
Here are the published open houses in the City of Kenmore, WA for this weekend. Simply click on the picture and you’ll be taken to a detaled map that provides you with some basic information about each home. Please keep in mind that I am not the listing agent for these particular properties; however, I’d be happy to find out more about them for you. If you’d like more details immediately, simply click on the Property Search button on my blog, enter the property’s MLS # and you’ll be taken to a more detailed report.
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Apr
24
Posted by Larry Cragun
The side photos are courtesy of Flickr and by Rich238
