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Archive for April, 2010

After several weeks of traveling, I am getting back in the swing of things.  A lot has happened in the real estate industry and in the Walla Walla real estate market over the past month.

 We have started 2010 in a positive fashion.   Units sales are up and days on the market down which works well for the sellers in Walla Walla as indicated by the table below.

2009 1st Qtr 2010 1st Qtr
Total MLS Sales 94 Total MLS Sales 121
Total Single Family Sales 81 Total Single Family Sales 99
WW Single Family Sales 48 WW Single Family Sales 69
Average Sales Price $236,602 Average Sales Price $216,304
Median Sales Price $186,950 Median Sales Price $204,500
Average Days on Market 183 Average Days on Market 159

*A note single family does not include condo’s and manufactured homes.

 Nationally it is the general opinion we are seeing some recovery.    Rates will be going up but according to Jim Gillespie, CEO for Coldwell Banker, and his research with many economists, the rates should not jump dramatically in the next twelve months.   We might see rates at just under or over six percent, which will help the Treasury sales and bring investors back into the market instead of the US Treasury buying the market.

 The Northwest was the last into the downturn and will most likely be the last to exit the slow market, but it is making a positive move.   I feel you can see the change in our area, but fortunately we did not see the terrible markets that some parts of the country have seen.   Just another great reason to live in Walla Walla, we do not usually see huge up swings and at the other end generally we do not turn to the worse in a huge way.

The biggest demographic piece of who is buying homes at a record pace is the single woman market.   They represented 20 % of the home sales in 2009.   What a change from when I first entered the market in 1972.    Women could hardly get a home loan back then if they were single.    My wife Donna attempted to secure a home loan in 1978.  It was almost impossible.   She had excellent credit, two good jobs, and money in the bank, but finding a lender was difficult at best.   It is wonderful that that criteria does not exist in the lending world any longer.

 Our new web site for property management is up and running (wallawallarentals.biz).   It is totally interactive and provides a complete connection to our rental department via the internet.   No one in the south eastern part of the state has anything at this level.  The most exciting feature on our website is the use of interactive forms.  You can apply right on line in the comfort of your own living room.

Finally, the homebuyer tax credit expires on April 30th.   You must have a fully accepted offer in place by that date and close no later than June 30th.    It is the opinion of most of the connections I have that it will not be extended.   Something new might be submitted but it is not on the list at this point.    Housing needs to turn back to the plus side to create a strong economic base for the national recovery.    Every homes sold brings about $60,000 into the gross national product, through jobs, material, and new taxes.   We need it.  If you have thought of the first time homebuyer or the move up or down tax credit but have not taken action your time is running out.   Call one of our fantastic associates to find out the time lines and the process.

 Call if I can help.

DM Ledford, Broker/Owner

Coldwell Banker First Realtors

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