Market Trends
Keep up to date on the latest market information on Moses Lake right here with informative posts, statistical graphs and witty commentary.
Some graphs:
Latest News
May 5th, 2010
#10 Real Estate Trend of the Decade
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As promised here is the tenth-ranked trend of the thousands. Written by Brian Summerfield, Online Editor of Realtor Magazine.
#10: Going Green
Back in the early 1980s, homes started to get bigger on average. By the 1990s, many builders were constructing houses so large—yet so similar—that the term “McMansion” had been coined to describe the huge structures with cookie-cutter designs that stood on quarter-acre lots across America.
Sometime early in the ‘oos, a backlash against these houses reached a critical mass due to a combination of the rise of New Urbanism, greater awareness of environmental issues, and the practical realities of the economic downturns that bookended this decade. In addition to the aesthetic revulsion these homes often provoked, the McMansions were reviled by many for being energy eaters. More than one-fifth of all energy used in the United States in 2006 was consumed by residential buildings, and these houses were a major contributor to that figure.
Nowadays, the watchwords in housing are sustainable development, small energy footprints, and green architecture. More builders are starting to use recycled materials in construction and incorporating renewable energy sources into designs—and getting the attention of consumers with these efforts.
However, the push to go green in real estate has occasionally produced a backlash of its own. For instance, many practitioners are apprehensive about overzealous energy regulations for homes, particularly with the proposed Cap and Trade bill. Also, some believe that once the economy improves, Americans will resume their big-house-lovin’ ways.
Whether the green movement in real estate is a long-term trend remains to be seen. But no one can deny that it’s been an important development in this decade.”
I hope you enjoyed reading about the top trends of the real estate market for the decade!
February 2nd, 2010
January 2010 Moses Lake Home Market News
By: Lois Kincaid
Owner/ Broker
Windermere/K-2 Realty LLC
GREETINGS
People always ask me, “How’s the market?” As promised, here’s the latest statistics just released from the Northwest Multiple Listing Service.
MY THOUGHTS
The tax credit stimulus has buyers out of their caves. If you are a first time home buyer it means $8,000 in your pocket. If you are repeat home buyer it means $6,500 in your pocket. A contract must be in place by April 30, 2010. Home purchases must close by June 30, 2010. Act now…call me today!
Interest rates are at 4.87% for 30 year fixed on a 30 day lock. How can you beat that?
Please stop in and say hello the next time you are going by.
We would love to see you!
November 12th, 2009
October 2009 Moses Lake Home Market News
People always ask me, “How’s the market?” As promised, here’s the latest statistics just released from the Northwest Multiple Listing Service.
MY THOUGHTS
Homes are still coming on market. Sellers have to be priced slightly under the current market price to get any action as buyers continue to want a deal.
Interest rates are a bargain at 5% for 30 year fixed.
Fall is my favorite time of the year. I love to see the falling leaves, and watch both football and the MLB playoffs. I am a diehard Yankee fan, but please don’t hold that against me. It is a lifelong passion I can’t get over.
Please stop in and say hello the next time you are going by. I would love to see you.
October 2009
| 9/30/08 | 9/30/09 | +/- | % | |
| Homes on Market | 322 | 344 | +22 | +6.8% |
| In 2006 182 homes were on the market. 2007- 296. There has been a steady rise in inventory. Sellers have to be priced right to get any action. | ||||
| YTD 2008 | YTD 2009 | +/- | % | |
| Closed Sales | 338 | 214 | -124 | -36.6% |
| In 2006 homes sold YTD totaled 470; 2007- 398; number of homes sold YTD is now 36% lower than the same time last year. | ||||
| YTD 2008 | YTD 2009 | +/- | % | |
| Avg. Sold Price | $200,341 | $190,900 | -9,441 | -4.7% |
| Med. Sold Price | $169,998 | $170,000 | +$2.00 | +0.0% |
| Average and median prices are about the same but buyers are getting more for their money. | ||||
| YTD 2008 | YTD 2009 | +/- | % | |
| Avg. Days On Market | 90 | 123 | +33 | +36.6% |
| Average time on market for sold homes increased by 33 days or 36%. Supply is still high and loans are taking longer to close. Patience, persistence and price are key! | ||||