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Archive for July, 2010

Is Summer here?

Hot weather is back and then gone.   We had temperatures at 100 and now they are back at 80 degrees with high winds.   We just do not know what we will have in Walla Walla from one day to the next.    Very unusual for our valley.

Interest rates are still at an all time low.   Inventories solid and sellers are actively looking for a buyer.   One of the best times I have seen to look for a home and sell your property to make a move up, down, or sideways.    We have some great property on the market.  You can view all of them at our website: http://www.coldwellbankerfirstrealtors.com/.  Any one of our Realtors are available to help you with all your real estate needs.

Time for the midyear review of the closing statistics for Walla Walla and College Place with the information compiled from our local mls.  

Single Family Sales Only ~ Jan 1 to June 30, 2010

WALLA WALLA 2009 2010
Total Sales 122 159
Average Sales Price $227,236 $229,700
Median Sales Price $187,100 $199,990
Average Days on Market 164 138
Median Days on Market 110 98
Total MLS Sales 198 250

 

COLLEGE PLACE 2009 2010
Total Sales 45 43
Average Sales Price $198,217 $198,226
Median Sales Price $184,400 $179,500
Average Days on Market 142 138
Median Days on Market 110 119

I had an opportunity to interview a wonderful woman for a Broker/Realtor position with us last week.   She is looking for a career change and we hope she looks seriously at real estate and Coldwell Banker First Realtors.   None of the other companies have the training, education, and follow-up offered here at CBFR.   If you have had some thoughts on making a career change give me a call or our trainer, Pat Richmond a call at (509) 525-0820.   We want to talk with you.

Have a great week!

DM Ledford, Broker/Owner

Coldwell Banker First Realtors

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First time homebuyers who have had delays in the closing of their home have received a reprieve.  The government has extended the closing date for the $8,000.00 tax credit from June 30, 2010 to September 30, 2010 for offers written before the April 30th.  We did not see many in that situation in our area because of the great lenders and other supporting groups which have been able to move to closing in a timely manner.   Other areas of the country have not been so lucky and the extension was of real importance to the young families depending on the credit to make their purchase work.

New real estate license laws took effect on July 1, 2010.   It is the most profound change I have seen in my career.    The status of the license has changed from Sales Associate or Associate Broker to all licensed Realtors having the designation of Broker, with different levels of authority.   I will remain as the firm Broker and have direct authority over all other Brokers in our office.   As a result, all of our forms have changed and we have had a class on using the new forms and will have another in the next week or two.    We want our knowledge regarding these forms at the highest level possible in the shortest period of time to protect the interests of our clients and the Realtors we work with.

Interest rates at another all time low.    According to Freddie Mac information was released today that the rate for a 30 year mortgage rate is 4.58% with an average point for a service fee of 0.7% for the week ending July 1, 2010 which is down from a year ago of 5.32%.     This is the time to look at making the change whether purchase your first home, moving into a bigger home or to scaling down.    Inventory is up and we have a great opportunity to find the home which will fit your needs.   Check out our site at coldwellbankerfirstrealtors.com and look at not only the homes we have available but all the homes available in the entire mls as well.    Once you find some property and you need more information check out all of our great brokers and find one to help you through the process?  We will do our best to make it a smooth process to from the start to finish.

Market research for the state of Washington:

36.3% increase in Washington home sales from first quarter of 2009.

21,300 jobs added in the state between January and March 2010.

6.1% apartment vacancy rate for the Washington in March, down from 6.9% in September.

65% increase in single family building permits in Washington comparing first quarters of 2009 and 2010.

98,100 increase in Washington population July 2008-july 2009.

Eight months supply of homes on market at end of first quarter, down from 11.8 months in 2009.

Also, I am looking for a new broker to train and prepare for an exciting career in real estate and I know you are out there.   Give me a call and we can set time for a private interview or call Pat Richmond, my office trainer, for how we prepare you for your new exciting career in real estate.    Also, any brokers, looking for a change I have a spot open and would like to talk with you.    It is time to call, we have a plan which will work for you.

Any way I can assist or you have questions please call me and we will talk.  Have a great day.

DM Ledford, Broker/Owner

Coldwell Banker First Realtors

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