Walla Walla Real Estate

April Statistics for Walla Walla & College Place

May 7th, 2008 Posted in College Place Real Estate, Real Estate Statistics, Walla Walla Real Estate | No Comments »

Walla Walla & College Place Statistics for April…

415 Homes on the market

138 Average days on market

$229,736 Average sale price

$191,500 Median sale price

Compared to April 2007…

333 Homes on market

124 Average days on market

$243,171 Average sale price

$195,000 Median sale price

Here is a link for the monthly-statistical-charts-april-2008.xls    This is a great tool for you to find out what the Real Estate market is like in Walla Walla and College Place. This excel file has bars to help easily compare year to year, and city to city.

If you are interested in receiving these statistics, please e-mail us, and we would be glad to get them to you.

Affordable Housing in Walla Walla

April 2nd, 2008 Posted in Walla Walla Real Estate | No Comments »

Living and working and investing in your community. This is a dream for many. And as gas prices go up, the cost of commuting to a job means more money out of your pocket.

In Walla Walla, there are some options. Washington School Homes are located in a revitalized neighborhood. Just blocks from down town Walla Walla. This owner occupied neighborhood of 22 homes, has made home ownership a reality to many. The homes  are newly constructed with covered front porches, wood floors and artfully designed interiors. These homes compare to a custom built home, yet they are offered at an affordable price with a financing package that is hard to beat in this market. For Example:

Sales Price                             $187,000.       

Fixed Interest Rate               5.75%

APR                                      5.75%

Total Funds to Close           $1541.88

Total Monthly Payment      $1,188.16

Estimated PI monthly payment of $996.50 with a monthly PITI of $1,188.16 based on loan amount of $187,000. Offered for a limited time only. Subject to qualifications and approvals. Financing with Banner Bank in Walla Walla, Washington.

With monthly payments that range in the area of a rent payment, Home Ownership can be affordable in Walla Walla. For more information on Washington School Homes go to the following link:  http://www.windermere.com/tid205558&showBrand=1

WSH Aerial View

February Statistics

March 31st, 2008 Posted in College Place Real Estate, Real Estate Statistics, Walla Walla Real Estate | No Comments »

The Statistics are in for February…

372 Home on the market in Walla Walla & College Place

126 Average days on market

$224,005 Average sale price in Walla Walla & College Place

$202,500 Median sale price in Walla Walla & College Place

Compare to February 2007 Statistics…

261 Homes on the market in Walla Walla & College Place

120 Average days on market

$215,961 Average sale price in Walla Walla & College Place

$188,150 Median sale price in Walla Walla & College Place

If you are interested in receiving these statistics on a monthly basis, please let us know!

Pricing Your Home to Sell

March 18th, 2008 Posted in College Place Real Estate, Real Estate Advise, Walla Walla Real Estate | No Comments »

In the Walla Walla, Washington Real Estate Market, the inventory of homes  has increased. In past years, if you put your home on the market, it sold quickly. Multiple offers were common and the selection for Buyers was limited. There were very few new homes on the market. If a Seller listed their home a bit high, it would still sell.

This year we have a larger inventory of new construction. Great for Buyers, but it does make it a bit tougher on the Sellers. Buyers are taking into consideration the cost of replacing older furnaces, roofs, and windows along with basic remodeling costs when purchasing a previously owned home on the market.

With this large inventory, Buyer’s are scrutinizing about what they purchase. Pricing your home to sell in this market is very important. Find out what your property is competing with and view them through a Buyers eye. Is the home priced so you are getting showings? Are you getting a lot of showings but no offers? Find out what the Buyers are saying about the property. Is it the price or is it the condition? Homes are not selling like they did in the past. We need to sell them in the market conditions we have now. Reviewing monthly statistics and taking a look at what has sold in your price range will help you see what you are up against. As a Seller, you need to know what is selling in your market, and how long it is taking to sell a home. You need to know the inventory. What may have seemed like a fair selling price at the time you put your home on the market, may not be competitive in today’s market. Market your homes at a price that will sell. It will save you time and money in the end.

Staging Your Home to Sell

March 10th, 2008 Posted in Current Events | No Comments »

If you are thinking about putting your home on the market to sell this spring, you may want to consider getting it staged. Clutter can be the largest obstacle. A Buyer looks for space to put their personal items. If too much space is taken, they perceive the room as too small.We suggest clearing off counter tops, even put the toaster in a cupboard. More counter space makes the kitchen feel larger. Remove and rearrange furniture to maximize the size of each room. Clear the top of your refrigerator, coffee tables, night stands and dressers.

The question you are probably asking is, where do I put all of this stuff? We suggest it be stored neatly in your garage, or in a storage unit. Pack it like you would when you move. This saves time packing when your house has sold.

Now that you have more room, take a look at the paint on your walls, the condition of your baseboards, and flooring. Paint should be in a neutral color. Touching up the paint on your walls and baseboards will give your home a clean look. Patch holes as needed. Be sure to spruce up your flooring, by cleaning or resurfacing. Check and replace missing electrical plate covers. Replace the grout on your tubs and showers. Check for missing grout at sink and tile on counter areas.

Don’t forget to clean up. Clean your bathrooms so they sparkle. How do your bathtubs and showers look? In the kitchen be sure to replace your range burner plates and clean the inside of your oven. Wipe off all of your cabinetry and clean your light fixtures. This is a good time to replace missing light bulbs. Wash the windows and doors. Door thresh holds can capture a lot of dirt, especially at a sliding door.

Most Home Buyers will drive by a home before previewing it. Take a close look at the exterior of your home. Clean up debris, weed and trim grass, add fresh bark to the flower beds, clear off the front and back porches. Remove spider webs and dirt from the siding. Touch up paint as needed around window and door trims.

This may sound a bit overwhelming. We suggest making a list and checking it off as you go. Everything does not need to be done in one day. If you purchase your cleaning and repair materials ahead of time, you will be able to fit the smaller jobs in to your schedule during the week. Involve the whole family. Before you know it, your home will be staged to sell.

The Williams Team at Windermere Real Estate is committed to providing professional real estate service to both Buyers and Sellers in the Walla Walla Valley.  Please contact us for your Real Estate needs.

How do National Media Reports Compare to the Walla Walla Housing Market?

February 26th, 2008 Posted in Current Events, Walla Walla Real Estate | No Comments »

Every housing market is different just like the weather. Florida is not going to have the same weather pattern as Walla Walla, Washington. That would hold true for the amount of foreclosures on homes that an area has suffered. Washington has a low foreclosure rate, with Walla Walla being one of the lowest.  Good lending practices, along with a strong economic environment has most likely been a key factor.

Walla Walla Home Buyers seemed to stall with purchases in December. With media reports of  doom and gloom, stating that housing values were decreasing, Buyers understood that to be true in every market. What was not reported was that what was true in some areas, others were not effected. In December all were affected by constant reports in print and on National News television. In January and February, Buyers are back in the market place. They don’t want to wait any longer.

So what are the benefits in purchasing a home in the Walla Walla Valley in 2008? If you were a home Buyer here in 2006 and 2007, you probably experienced a lack of choice in finding a property that fit your needs. Finding a new home was even harder. Interest rates were higher then than they are today and home prices were rising 4-6% each year.  Today’s home buyer has a good selection of homes to choose from. Interest rates are lower and FHA limits are on the rise. The Walla Walla Valley now has more new housing choices available to the consumer. We see many second home buyers in our market. Those moving to the area are finding that it is almost easier to purchase a home than to find a rental. Single family rentals can be hard to come by. Most renters are signing leases for 6 to 12 months at a time, when they can find them.

How long will this last? Just until the next trend arrives. Real Estate can be a good investment in the Walla Walla Valley.

January Statistics

February 19th, 2008 Posted in College Place Real Estate, Real Estate Statistics, Walla Walla Real Estate | No Comments »

The statistics are in for January…

361 Homes on the market in Walla Walla and College Place

110 Average days on market

$243,903 Average sale price for Walla Walla and College Place

$207,850 Median sale price for Walla Walla and College Place

Compare to January 2007

307 Homes on the market in Walla Walla and College Place

114 Average days on market

$207,417 Average sale price in Walla Walla and College Place

Let us know if you would like to receive statistics!

Stimulus Bill to Help Housing Market

February 6th, 2008 Posted in Current Events | No Comments »

In late January the National Association of Realtors congratulated the U.S. House of Representatives and President Bush for their bipartisan actions to help the families,  the housing market, and  the economy in need.

NAR President, Richard Gaylord said “We believe the economic stimulus bill approved by the House is a good legislation in that it can quickly be signed into law, quickly be implemented, and therefore, would quickly have an impact on families and the nation’s economy. We are pleased that both the Federal Housing Administration (FHA) and the Fannie Mae and Freddie Mac (GSE) loan limits have been increased, even only if temporarily.”

The NAR has been trying for several months to get the loan limits increased to help an estimated 138,000 Americans achieve the dream of home ownership, and 200,000 home-owner’s to refinance to keep their home. This increase in  loan limits should provide an immediate infusion of much needed liquidity to the nation’s mortgage market, and solve many housing challenges.

An economic study taken in early January estimated that increasing the loan limits could result in as many as 500,000 refinance loans which would help reduce the foreclosure rate as much as 210,000! This will also generate an estimated 300,000 home sales which will make an immediate impact for our economy and families.

2008 Housing Market Update

January 31st, 2008 Posted in Current Events, Real Estate Statistics, Walla Walla Real Estate | No Comments »

Everyone is interested where the current real estate market is heading. This will give you an idea of what the real estate market is doing today.

Washington state only has a fraction of 1% of all home loans that go into foreclosure. The top ten states with the highest forclosures are 1. Nevada, 2. Florida, 3. Michigan, 4. California, 5. Colorado, 6. Ohio, 7. Georgia, 8. Arizona, 9. Illinois, and 10. Indiana.

Housing prices have increased over the years. In 2007, home prices increased in 37 out of 39 counties. Below you can compare the Median Resale Price for the counties in Washington.

 

County

Median Resale Price

% Change

(year ago)

Housing Affordability Index

1st Time HAI

Adams

$ 104,300

7.6%

160.3

108.0

Asotin

$154,100

4.9%

126.8

73.2

Benton

$172,400

3.6%

154.6

92.9

Chelan

$250,000

11.7%

86.0

49.9

Clallam

$255,000

10.4%

83.9

48.6

Clark

$278,700

1.2%

92.9

56.6

Columbia

$132,500

26.2%

149.3

86.0

Cowlitz

$197,500

8.0%

108.0

64.8

Douglas

$239,900

6.6%

87.0

54.2

Ferry

$158,000

4.8%

102.0

61.3

Franklin

$172,400

3.6%

115.6

76.7

Garfield

$154,100

4.9%

132.7

71.6

Grant

$169,100

22.5%

110.6

69.7

Grays Harbor

$180,000

13.9%

105.5

63.7

Island

$320,000

1.6%

73.5

45.5

Jefferson

$320,000

-3.0%

68.6

39.7

King

$472,000

9.1%

64.7

36.1

Kitsap

$300,000

5.8%

88.9

53.5

Kittitas

$259,700

1.8%

83.1

42.1

Klickitat

$185,700

N/A

100.7

60.3

Lewis

$214,100

12.9%

93.5

56.0

Lincoln

N/A

N/A

N/A

N/A

Mason

$224,700

15.2%

96.3

59.0

Okanogan

$189,000

35.0%

87.0

53.6

Pacific

$143,000

-8.3%

127.5

73.5

Pend Oreille

$158,000

4.8%

110.5

67.9

Pierce

$288,700

3.3%

89.8

52.8

San Juan

$585,000

33.6%

39.1

23.1

Skagit

$272,000

0.7%

86.7

53.0

Skamania

$225,000

N/A

89.1

56.4

Snohomish

$370,000

3.6%

76.8

46.6

Spokane

$207,400

8.2%

107.7

60.1

Stevens

$158,000

4.8%

118.6

72.0

Thurston

$270,000

5.0%

98.1

58.3

Wahkiakum

$222,000

5.7%

93.6

58.6

Walla Walla

$206,500

11.6%

102.3

58.1

Whatcom

$290,000

0.9%

81.8

45.8

Whitman

$216,900

13.9%

98.4

44.2

Yakima

$160,000

15.0%

116.6

71.4

Statewide

$314,000

4.4%

81.8

48.2

 

The Washington Association of Realtors represents over 25,000 real estate professionals and over 1.83 million homeowners. For additional information call (360) 943-3100