As of 12/11/09 the number of homes sold -
12/11/09: 0
Year-to-date: 1368 (-7%)
2008 YTD: 1473
Average Sale Price:
2009 YTD: $165,560 (-2%)
2008 YTD: $168,225.
Cherry Harvest News from the Yakima Valley!
14 years ago
Saturday, December 12, 2009
As of 12/11/09 the number of homes sold through Yakima MLS
As of 12/11/09 the number of homes sold -
12/11/09: 0
Year-to-date: 1368 (-7%)
2008 YTD: 1473
Average Sale Price:
2009 YTD: $165,560 (-2%)
2008 YTD: $168,225.
Friday, December 11, 2009
Residential Homes sold through the Yakima MLS as of 12/10/09
As of 12/10/09 the number of homes sold -
12/10/09: 5
Year-to-date: 1368 (-7%)
2008 YTD: 1468
Average Sale Price:
2009 YTD: $165,560 (-2%)
2008 YTD: $168,443.
12/10/09: 5
Year-to-date: 1368 (-7%)
2008 YTD: 1468
Average Sale Price:
2009 YTD: $165,560 (-2%)
2008 YTD: $168,443.
Thursday, December 10, 2009
Residential Homes sold through the Yakima MLS as of 12/09/09
As of 12/09/09 the number of homes sold -
12/09/09: 4
Year-to-date: 1363 (-7%)
2008 YTD: 1465
Average Sale Price:
2009 YTD: $165,722 (-2%)
2008 YTD: $168,529.
12/09/09: 4
Year-to-date: 1363 (-7%)
2008 YTD: 1465
Average Sale Price:
2009 YTD: $165,722 (-2%)
2008 YTD: $168,529.
Wednesday, December 9, 2009
Residential Homes sold through the Yakima MLS as of 12/08/09
As of 12/8/09 the number of homes sold -
12/08/09: 3
Year-to-date: 1356 (-7%)
2008 YTD: 1465
Average Sale Price:
2009 YTD: $165,683 (-2%)
2008 YTD: $168,528.
12/08/09: 3
Year-to-date: 1356 (-7%)
2008 YTD: 1465
Average Sale Price:
2009 YTD: $165,683 (-2%)
2008 YTD: $168,528.
Saturday, May 9, 2009
Yakima County housing market takes a first-quarter dive
Yakima County's housing market froze in the first quarter of 2009, resembling statewide trends in home sales.
The county saw a 26.5 percent year-over-year decline in the dollar volume of all residential real estate sales during the first three months of 2009, while the average home price dropped 5.2 percent, to $151,239, according to figures from Headwaters: The Source, a Selah-based firm that tracks real estate trends. Those figures include both new construction and existing homes.
The number of existing homes sold in the state dropped 30.6 percent in the first quarter and the median sale price of existing homes fell 13.7 percent to $253,500, according to the Washington State University Center for Real Estate Research.
"(With) the way the economy is, people are holding back," said Mike Kokenge of Coldwell Banker Associated Realtors.
The Washington State University figures show that Yakima County dropped 25.6 percent from 2008 numbers. The median existing home price during the first quarter also dropped 7.4 percent, to $137,300 from the same period a year ago.
Local real estate agents cited a variety of reasons for the decline including concerns about the national real estate market.
"I think there was a caution due to the economic situation and the national news media," said Tom Trepanier, owner/broker of Windermere Real Estate Yakima. "It put caution in an already conservative market."
Glenn Crellin, executive director of the Washington Center for Real Estate Research, said it's important to note that the Yakima Valley continues to fare better than other areas of the state and the nation. "We're still affordable and Yakima's (real estate market) got good press," Kokenge said.
Parade, a magazine that serves as an insert for many Sunday newspapers across the country, including the Yakima Herald-Republic, recently named Yakima as one of three stable markets to watch.
And within the Valley there are some areas that are doing well than others.
Travis Davis, broker/owner of Coldwell Banker Tomlinson Wine Country, said that while sales in Grandview, Sunnyside and other areas in the Lower Valley were not as strong as in the past, it was more stable than other areas of the country.
There was not an oversupply of listings, which would lead to a depression of prices, he said.
There's hope for the spring - In April, the dollar volume of residential home sales in Yakima County still had a 25 percent year-over-year decline, according to Headwaters: The Source.
That is likely a reflection of the strength of the residential market a year ago, said Kristi Wilbert, owner of Headwaters: The Source. But those sales figures are certainly an improvement from that of the previous months.
And those who make a living selling houses locally believe that the buyer's hibernation will subside.
The key to that activity will be the first-time home buyers and those who are buying in the lower price ranges.
Many of the homes that did sell during the first few months of this year were under $300,000 and many of those home were under $200,000, Trepanier said.
"Each month is showing more signs of sales from the previous month," he said. "We're on the rebound. We're heading in a positive direction."
There's also hope that a boost will come in the form of an $8,000 tax credit for first-time homebuyers, which is part of the federal stimulus package.
It's too early to tell the effects of the tax credit as many home owners who are taking advantage of the credit have not yet completed the closing of their home, Wilbert said.
But it's clear that the credit is encouraging people to enter the market.
"It is increasing the optimism and it's increasing the current activity," Trepanier said.
Source: Yakima Herald-Republic by Mai Hoang (05-09-09)
The county saw a 26.5 percent year-over-year decline in the dollar volume of all residential real estate sales during the first three months of 2009, while the average home price dropped 5.2 percent, to $151,239, according to figures from Headwaters: The Source, a Selah-based firm that tracks real estate trends. Those figures include both new construction and existing homes.
The number of existing homes sold in the state dropped 30.6 percent in the first quarter and the median sale price of existing homes fell 13.7 percent to $253,500, according to the Washington State University Center for Real Estate Research.
"(With) the way the economy is, people are holding back," said Mike Kokenge of Coldwell Banker Associated Realtors.
The Washington State University figures show that Yakima County dropped 25.6 percent from 2008 numbers. The median existing home price during the first quarter also dropped 7.4 percent, to $137,300 from the same period a year ago.
Local real estate agents cited a variety of reasons for the decline including concerns about the national real estate market.
"I think there was a caution due to the economic situation and the national news media," said Tom Trepanier, owner/broker of Windermere Real Estate Yakima. "It put caution in an already conservative market."
Glenn Crellin, executive director of the Washington Center for Real Estate Research, said it's important to note that the Yakima Valley continues to fare better than other areas of the state and the nation. "We're still affordable and Yakima's (real estate market) got good press," Kokenge said.
Parade, a magazine that serves as an insert for many Sunday newspapers across the country, including the Yakima Herald-Republic, recently named Yakima as one of three stable markets to watch.
And within the Valley there are some areas that are doing well than others.
Travis Davis, broker/owner of Coldwell Banker Tomlinson Wine Country, said that while sales in Grandview, Sunnyside and other areas in the Lower Valley were not as strong as in the past, it was more stable than other areas of the country.
There was not an oversupply of listings, which would lead to a depression of prices, he said.
There's hope for the spring - In April, the dollar volume of residential home sales in Yakima County still had a 25 percent year-over-year decline, according to Headwaters: The Source.
That is likely a reflection of the strength of the residential market a year ago, said Kristi Wilbert, owner of Headwaters: The Source. But those sales figures are certainly an improvement from that of the previous months.
And those who make a living selling houses locally believe that the buyer's hibernation will subside.
The key to that activity will be the first-time home buyers and those who are buying in the lower price ranges.
Many of the homes that did sell during the first few months of this year were under $300,000 and many of those home were under $200,000, Trepanier said.
"Each month is showing more signs of sales from the previous month," he said. "We're on the rebound. We're heading in a positive direction."
There's also hope that a boost will come in the form of an $8,000 tax credit for first-time homebuyers, which is part of the federal stimulus package.
It's too early to tell the effects of the tax credit as many home owners who are taking advantage of the credit have not yet completed the closing of their home, Wilbert said.
But it's clear that the credit is encouraging people to enter the market.
"It is increasing the optimism and it's increasing the current activity," Trepanier said.
Source: Yakima Herald-Republic by Mai Hoang (05-09-09)
Thursday, May 7, 2009
Five Maintenance Issues Owners Shouldn't Ignore
Daily Real Estate News | May 6, 2009
Consumer Reports magazine advises home owners not to put off important maintenance projects, noting that waiting until the economy rebounds could end up making the repairs more costly while putting a family's health at risk.
The magazine identifies five crucial maintenance issues:
Check the gutters: Clogged gutters, broken fasteners and separations where the gutters meet the fascia board will lead to roof leaks if they haven’t already.
Inspect the roof: Cracked, curled and mussing shingles mean a roof is nearing the end of its useful life. Cracks around chimneys, skylights, and roof valleys can also suggest the roof might be leaking.
Look for bugs: Termites and carpenter ants can bore through a home in a few short years. Probe the sill plate on top of the foundation with a screwdriver to check for rotten wood. Also look for carpenter ants and termites along windowsills and walls.
Avoid mold: Mold and mildew can cause musty odors, dank air, and make residents sick. Check under carpets and around windows for visible mold or mildew.
Don’t ignore cracks: Foundation cracks wider than 3/16 of an inch can be a problem. These require examination by a structural engineer.
Source: Consumer Reports (05/04/2009)
Fast Fixes Can Help Sell a Home
Daily Real Estate News | May 1, 2009
It’s not rocket science: Houses that look fresh and attractive sell faster than beat-up homes.
Here are some cheap tricks from Money Magazine for boosting appeal:
● Buy a new mailbox, house numbers, doorbell, and knocker: $200
● Green the grass with nitrogen-rich fertilizer: $50 to $200, depending on the lawn size
● Edge and mulch the flowerbeds: $300 to $600, depending on the number of beds
● Replace the bathroom faucet: $300
● Install beadboard over dated bathroom tile: $800 to $1,000
● New paint: $60 to $100 per room, if homeowners do it themselves
● Replace switchplates and outlet covers: 50 cents each
● Install stone tile over existing Formica countertops: $500 to $1,000
Source: Money Magazine (05/04/2009)
www.yakimahouseandhome.com
Friday, May 1, 2009
First-Time Buyers Boosting House Sales
Realtor Magazine - Daily Real Estate News | April 30, 2009
The NATIONAL ASSOCIATION OF REALTORS® says more than 50 percent of March's home sales were tied to first-time buyers, many of whom snapped up foreclosed homes and other distressed properties.
Experts believe getting first-time buyers off the sidelines to take advantage of historically low interest rates and federal tax credits will reduce the glut of homes on the market and spark a recovery. Some point out that first-time buyers are helping to revitalize communities in Florida, California, and other states hit hard by foreclosures.
However, distressed properties often sell for 20 percent less than traditional properties, and the increase in lower-end sales is driving down the national median home price.
Source: USA Today, Stephanie Armour (04/30/09)
© Copyright 2009 Information Inc.
The NATIONAL ASSOCIATION OF REALTORS® says more than 50 percent of March's home sales were tied to first-time buyers, many of whom snapped up foreclosed homes and other distressed properties.
Experts believe getting first-time buyers off the sidelines to take advantage of historically low interest rates and federal tax credits will reduce the glut of homes on the market and spark a recovery. Some point out that first-time buyers are helping to revitalize communities in Florida, California, and other states hit hard by foreclosures.
However, distressed properties often sell for 20 percent less than traditional properties, and the increase in lower-end sales is driving down the national median home price.
Source: USA Today, Stephanie Armour (04/30/09)
© Copyright 2009 Information Inc.
Wednesday, April 29, 2009
Housing Analysts Predict the Bottom Is Near
Realtor Magazine - Daily Real Estate News | April 28, 2009
The bottom of the housing decline is near, predicted analysts and home builders attending the National Association of Home Builders’ semiannual Construction Forecast Conference last week.
Mark Zandi, chief economist of Moody’s Economy.com, facetiously picked a date when home prices would stop falling: Dec. 15, 2009. Other observers weren’t so precise, but they did generally agree that the federal government’s efforts to shore up the market would take effect by the end of 2009 or early in 2010.
Analysts also predicted that consumers will spend less on remodeling. Eric Belsky, executive director at Harvard University’s Joint Center for Housing Studies, predicted that spending on remodeling would fall 12.3 percent by the end of this year compared to last.
Analysts project that the credit crisis will loosen, although people with blemished credit records may continue to have trouble getting mortgage loans.
Source: The Wall Street Journal, June Fletcher (04/24/2009)
www.yakimahouseandhome.com
The bottom of the housing decline is near, predicted analysts and home builders attending the National Association of Home Builders’ semiannual Construction Forecast Conference last week.
Mark Zandi, chief economist of Moody’s Economy.com, facetiously picked a date when home prices would stop falling: Dec. 15, 2009. Other observers weren’t so precise, but they did generally agree that the federal government’s efforts to shore up the market would take effect by the end of 2009 or early in 2010.
Analysts also predicted that consumers will spend less on remodeling. Eric Belsky, executive director at Harvard University’s Joint Center for Housing Studies, predicted that spending on remodeling would fall 12.3 percent by the end of this year compared to last.
Analysts project that the credit crisis will loosen, although people with blemished credit records may continue to have trouble getting mortgage loans.
Source: The Wall Street Journal, June Fletcher (04/24/2009)
www.yakimahouseandhome.com
Monday, April 27, 2009
Fight Inflation: Buy a Home
Realtor Magazine - Daily Real Estate News April 27, 2009
Some economic analysts say that the possibility that the economy will go into overdrive and inflation will skyrocket is a much more frightening possibility than the current recession.One inflation hedge nearly all of them point to is real estate. Owning it outright is the best scenario, but if that’s not possible, a low-rate, 30-year fixed mortgage is the next best thing. As inflation drives up salaries, mortgage payments will stay the same, analysts point out.
Source: USA Today, John Waggoner (04/24/2009)
www.yakimahouseandhome.com
Some economic analysts say that the possibility that the economy will go into overdrive and inflation will skyrocket is a much more frightening possibility than the current recession.One inflation hedge nearly all of them point to is real estate. Owning it outright is the best scenario, but if that’s not possible, a low-rate, 30-year fixed mortgage is the next best thing. As inflation drives up salaries, mortgage payments will stay the same, analysts point out.
Source: USA Today, John Waggoner (04/24/2009)
www.yakimahouseandhome.com
Tuesday, March 3, 2009
Yakima's First Downtown Condominium
Prudential Almon Realty's team of professionals are chosen to market and sell Yakima's first downtown luxury condominium development. Model homes are open Thursday thru Monday 12-6pm or by appointment, Click here to schedule an appointment or to request information.
Saturday, February 21, 2009
Yakima Foreclosure Statistics
Only about 1 in 3,596 Yakima County homes were in foreclosure in January, according to RealtyTrac, an Irvine, Calif., firm that tracks foreclosures nationwide. That's well below the statewide rate of 1 in 874 homes and even further below the nationwide rate of 1 in 466 homes.
Reported by - Hoang, Mai. "Foreclosure exposure: Numbers are no comfort to those losing shelter." Yakima Herald Republic [Yakima] 15 Feb. 2009.
www.yakimahouseandhome.com
Reported by - Hoang, Mai. "Foreclosure exposure: Numbers are no comfort to those losing shelter." Yakima Herald Republic [Yakima] 15 Feb. 2009.
www.yakimahouseandhome.com
I have lauched my 2009 "Giving Back To The Community" campaign.
I will donate 10% of my commissions earned in 2009 to local non-profit organizations of my clients' choosing.
Buyer or seller, once a transaction closes, my client will have the opportunity to choose which local non-profit organization they would like me to send my donation. http://www.yakimahouseandhome.com/
Friday, February 20, 2009
Welcome to my new blog!!!
See whats going on in Yakima and Yakima's real estate market. Updated with information for buyers, sellers and homeowners. www.yakimahouseandhome.com
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