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Archive for May, 2017

Image result for real estate marketOur Real Estate market is continuing to change. Information I just received was a comparison of 2016 to 2017 seasonally adjusted rate of existing home sales rose 12.2% from the first quarter of 2016 to 107,590 homes. This indicates that the current annual rate of sales is well below that we witnessed in previous periods of high house price growth such as 2003. This is a low supply of existing homes listed for sale, which is likely a leading factor promoting the rapid home price growth throughout our State including the Walla Walla Valley.

Median price changes are being seen all over the State. The biggest changes are on the Olympic peninsula where the median price in Jefferson County, Port Townsend was up 19.1% on the median price of $353,800. Walla Walla is seeing an increase of 4.4% of the median price of $209,800.  With the overall increase in pricing across the State, the number of first time home buyers has dropped because of affordability. We are not seeing that as much in Walla Walla, but it seems to be moving that way.

IMG_0050In the U-B on Wednesday, the front page talked about the new tax laws would eliminate most of the interest deduction on home mortgages we have enjoyed for years. This will impact the value of home ownership. We will wait and see what comes out.

Ducky Derby happened last weekend at the Walla Walla Community College. What a great program the Exchange Club has been sponsoring for years. I bought a fair share over the years but never won a thing. This will be the year. (UPDATE: My wife Donna won the grand prize! WOW!)

Memorial Pool is opening the last week in May – Memorial Day. That is going to be a great addition to the community and give our kids some outdoor activities to enjoy that we have not offered them in the past. I am glad it is moving ahead. When I was a kid in Walla Walla we had several places to swim and I think I was in them all. Thank you goes out to the Jim Dumont, the City, and the Committee who made it happen.

Thank you all.

Have a great week and call me if I can assist!

Dennis M Ledford, Owner/Broker
Coldwell Banker First Realtors

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https://media.deseretdigital.com/file/34840f5751?crop=top:0|left:0|width:940|height:500|gravity:Center&quality=55&interlace=none&resize=width:940&order=resize,crop&c=14&a=8e1c7dfeWe just returned from a wonderful March holiday; visiting in the Southwest, San Diego, Phoenix, Vegas, Palm Desert, Laughlin, Zion National Park and 2,700 miles of driving. We went from San Diego, and 28 Days later back to San Diego for our flight back to Portland. The weather was great from 75-96 degrees, and no rain or clouds. We went to four movies that Donna wanted to watch, and two Mariner games as well as a tour of Zion Canyon. We just really enjoyed our trip, but as usual we were glad to get home.

https://i2.wp.com/www.wwvmpo.org/uploads/3/4/3/6/3436050/5196516_orig.jpgWhile I was gone, I consistently watched the weather in Walla Walla and generally it was cold, windy, and rainy. I was glad to see the sun on the last day of March and the 60 degree weather felt very nice.

Real Estate was hot while we were away – a lot of home sales. But we’re still short on listing inventory for the buyers existing in our market. It is creating a lot of frustration with families looking for a new home, or those who want to move up or down. If they are wanting to make a change, they are afraid to sell their home with the fear they will not find a home in time to move into.

https://i1.wp.com/s.hswstatic.com/gif/consider-before-buying-home-hp-orig.jpgWalla Walla is still the place for me to come home to. Nothing better, but I wish the rain would slow up and the cold wind to move away.

If we can help give me a call!

 

 

Dennis M. Ledford, Owner/Broker®
Coldwell Banker First Realtors®

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