Di Kawell Real Estate Blog

Federal Way Centerstage Theatre Romantic Comedy

The romantic comedy "I Love You Because" is being performed Feb 5 - 21 at the Knutzen Family Theatre at Dumas Bay, which is a fantastic setting in Federal Way .. for more details, and to see about buying tickets, please go directly to the Centerstage website .  The comedy is about 2 brothers and dating in New York city .. directed by Brandon Ivie of the 5th Avenue Theatre and starring Don Daryl Rivera, voted the 2009 "Person to Watch" by the Puget Sound theater community. Grab your sweetie and enjoy great,  local entertainment!

King County Real Estate Home Sales Stats - Easy Version

Here's a great post I'd like to share from our friends at Talon Title:

Existing home sales for King County put into perspective...

Reading the headline of the recent AP article about home sales for December 2009, one would think the real estate market just fell off a cliff.  The AP article is citing national sales data of 5.45 million seasonally adjusted sales, down 16.7% from 6.54 million from November.  Median prices, the AP reports "plunged by more than 12 percent last year - the sharpest fall since the Great Depression".  Pretty powerful stuff.   

Recently, we examined how local news differed from national news and why.  The conclusion was that national trends have little or no correlation to your local market conditions.  On the national level there was a big drop, but consider that November had the highest resale total for all of 2009.  Also consider that the home buyer tax credit was extended until mid-2010, all of which affect overall numbers once this was realized. 

Of much more value to us in the Puget Sound is how our local market is holding up. So lets take a look at the numbers:

Dec 2009

Total King County SFR Sales: 1125

Avg Price: $487,105

Total % from November 2009:-15%

Total % from December 2008:  +34%

Total price change from November 2009: +4.2%

Total price change from December 2008: -3%

Overall, it appears that December 2008 was a much worse month than December 2009.  Total sales increased by 34% in 2009, while prices held relatively stable.  Average prices actually increased from November 2009, while being down 3% from December 2008.  These local numbers are much more palatable than the reported national news. 

Looking ahead, expect much more activity as the tax credit deadline looms again. 

Re-posted from Talon Northwest Neighborhoods Blog

Reading the headline of the recent AP article about home sales for December 2009, one would think the real estate market just fell off a cliff.  The AP article is citing national sales data of 5.45 million seasonally adjusted sales, down 16.7% from 6.54 million from November.  Median prices, the AP reports "plunged by more than 12 percent last year - the sharpest fall since the Great Depression".  Pretty powerful stuff.   

Recently, we examined how local news differed from national news and why.  The conclusion was that national trends have little or no correlation to your local market conditions.  On the national level there was a big drop, but consider that November had the highest resale total for all of 2009.  Also consider that the home buyer tax credit was extended until mid-2010, all of which affect overall numbers once this was realized. 

Of much more value to us in the Puget Sound is how our local market is holding up. So lets take a look at the numbers:

Dec 2009

Total King County SFR Sales: 1125

Avg Price: $487,105

Total % from November 2009:-15%

Total % from December 2008:  +34%

Total price change from November 2009: +4.2%

Total price change from December 2008: -3%

Overall, it appears that December 2008 was a much worse month than December 2009.  Total sales increased by 34% in 2009, while prices held relatively stable.  Average prices actually increased from November 2009, while being down 3% from December 2008.  These local numbers are much more palatable than the reported national news. 

Looking ahead, expect much more activity as the tax credit deadline looms again. 

Re-posted from Talon Northwest Neighborhoods Blog

Federal Way Home & Condo Sales Stats - July 2009

Average days on the market for the homes and condos that have actually sold is almost the same .. 95 days.

Single Family Homes Stats - *337 homes for sale from $87,900 to $2,900,000. Median price is $314,950.

*60 sales closed in July, from $75,000 to $835,000. Median sold price is $264,488. On average, we have about a 5.6 month supply of homes for sale. But, time increases as prices go up. For example in the price range of $350,000 to $450,000, it's a 10 month supply.

And, for sales that are pending (under contract but not closed) we have 81 homes ranging in price from $100,000 to $998,000. Median pending price is $229,400. 

*For the month of July, we have just 18% of the available homes actually selling.

Condo Stats - *120 condos currently on the market with prices from $82,000 to $329,999.

*11 condos sold in the month of July, prices range from $85,000 to $212,000.

17 condos are pending (under contract) in July, prices range from $72,500 to $250,000.

*For the month of July, we have just 9% of available condos actually selling.

 

 

 

 

                    

Federal Way Home Sales Are Up! Stats Comparisons May '09 to May '08

Recently released title info shows that Federal Way, WA single family housing inventory is down by 30% this year over last; however closed home sales are up by 33% !  3 guesses why? Answer: Affordability!  The average (median) sale price is $241,000 which fairly well reflects the average buying power of a typical Federal Way resident. Our sale prices have dropped 22.20% from a year ago, when the median was $310,125. 

Actual inventory numbers stood at 353 homes on the market as of may 31st, and 56 sales closed for the month of May.

Condo listings in Federal Way are down 9.4% and the sales are down a whopping 46% this May over last! Actual numbers are 7 units sold, at a median price of $129,900. This price is down from a median of $165,000 a year ago.

Federal Way - The Region's Hottest Spanish Music & Flamenco Dance!

Carmona Flamenco and Correo Aereo - Hosted at the Knutzen Family Theatre this weekend, Saturday April 18th at 8PM - tickets are selling fast - just $12 - $16  Box Office 253-835-2020 or go online to http://www.kftevents.com to order and read more about the performers.

You may have heard & seen these artists perform in Seattle at the Folklife Festival or Bumbershoot - and there is more to learn at www.fanw.org/carmonaflamenco.html

March Home Sales In Federal Way Much Improved!

Even with rain, snow, sleet and hail Federal Way home sales are gaining momentum! Closed sales for the month are up 60% over February. And that means with inventory holding steady at 350 properties for sale, closed sales at 37 units, we have a 9.5 month supply of homes. That is down from a 15 month supply in February - much improved!

 The median price of the homes on the market for sale is $300,000, and the median price for the homes that have closed is $249,000. We are still seeing first time homebuyers as the main group taking action - not surprising since they have such great incentive with the Federal First-Time Homebuyer Tax Credit now solidly in place, plus excellent FHA financing available.

For up to the minute reports of home values in your neighborhood of Federal Way, please comment here or send an email to me at dkawell@windermere.com  I'll need your address and a list of the improvements you have made to the property. You can also phone me at 206-794-0844.

Federal Way Mayor Hosts First of Four Town Hall Meetings

Mayor Jack Dovey is hosting an informal town hall meeting on March 25th, 6:30 PM at the Federal Way Community Center, 876 S 333rd St, near the Celebration Park campus. This is a great opportunity for area residents and business people to learn and ask questions about life in Federal Way, as it is and what's new and coming soon. The mayor will give a brief update, and area service clubs will make a short presentation on volunteer opportunities in the community. 

For more information, contact Brook at 253-835-2401.

What's "High End" for Home Pricing in the Federal Way area?

According to Windermere's Premier Properties qualifying guidelines effective January 1, 2009, in the Federal Way and Jovita/West Hill Auburn areas, minimum pricing is at $700,000. But, more importantly is the quality of the home and neighborhood. Upscale quality and excellent interior/exterior maintenance plus architectural interest or historical significance are all criteria upon which Windermere agents and brokers must evaluate a property to qualify for this special category marketing. 

In general, based only on mls pricing & stats for this area, there are currently 26 homes listed for sale from $720,000 to $1,340,000. Avg square footage is 4,084, and avg lot size is approx half acre up to 4.9 acre currently.  In the past 6 months, there have been 8 closed sales in this range, from a low of $700,000 to a high of 1,593,000, and avg days on the market were 162. Impressive Puget Sound, Lake waterfront and Mountain views are often features included in this price point. Southwest King County Washington is well known for value pricing; and the drive time to Seattle is approx 45 minutes - to Tacoma, under a half hr. Come check us out - you'll be glad you did!

Federal Way Goes Green on March 21st ..

Selling Your Home Or Not, one thing we all need to do is clear the clutter and do some "Spring Cleaning"at least once a year. The City of Federal Way is having it's semi-annual community recycling event March 21st from 9 a.m. to 3 p.m. at the Twin Lakes Park & Ride, 21st Ave SW and SW 344th St.

Residents can recycle a wide range of materials that are not typically collected at the curb, including appliances, scrap metal, clean wood, bulky yard debris, petroleum products, tires, oil, gas, batteries, rigid plastic, holiday lights and select electronics, such as computer keyboards, mice and printers, fax machines, scanners, cell phones and CD/DVD players. Most items are accepted free of charge - however there is a $10 cash fee for recycling fridges, freezers and air conditioners. For more information see the City of Federal website.

Burst of Home Sales in Federal Way - Last 2 weeks

According to my search in the MLS database,for February 2009, 40 of the 50 new sales contracts accepted on homes in Federal Way happened in the last 2 weeks - hopefully this is not just a flash in the pan, but we'll take every bright spot we can find in this real estate market!

Current Inventory of Homes for Sale total 349 and are priced from a low of $85,405 to a high of $1,340,000 - and a median price of $299,950.

Sales Pending currently total 103, from a low of $75,000 to a high of $685,000 and the median price of $259,000. These homes averaged 73 days on the market before a sale.

February Closed Sales totaled 23, low $152,400 to high of $621,000, and median at $270,000.  The total closed is virtually unchanged from January (21)  So based on closed sales we are at a 15 month supply of homes.

Regarding foreclosure, short sales, bank owned and pre-foreclosure stats - 28% of actives, 31% of pendings and 35% of solds fall into these categories.

Hopefully the increased activity over the last 2 weeks will be gaining momentum with the buyer tax credit and other government actions taken recently, and being clarified. I'll keep you posted!