Kenmore Mid-year Solds: Don’t listen to Chicken Little
I always tell my friends and family to avoid visiting the Seattle area in June. People actually believe that June is summer here! Yesterday was a quintessential Northwest day: dark, rainy, chilly….and, yes, a bit depressing. When I went out to my back yard to check out some of my spring herbs, I noticed the slugs were happy enough. As I watched the slimy things move slowly over everything on my patio, it occured to me that the real estate market in Kenmore has been moving at a slug’s pace as well. So, to satisfy my curiosity, I pulled the “sold” statistics for 2007 and 2008 to see if my suspicions were justified:
Kenmore solds 1st half of 2007 Kenmore solds 1st half of 2008
As you can see, there has been a huge slowdown in homesales. In fact, the market is moving at a slug’s pace. What’s truly amazing is that more buyers are not taking advantage of the relatively low interest rates and higher inventories. The market hasn’t seen this opportunity in over 30 years. The problem lies in the fact that too many Americans have been listening to the media (and uncle Joe who doesn’t know anything about real estate) who say the sky is falling. There are, indeed, more challenges in the market at this time but those who are proactive and work with a competent lender and real estate agent will be a winner.
NO, THE SKY IS NOT FALLING
