Thurston County Listings 

Bank Owned

Olympia, Lacey, Tumwater:   View Listings        Yelm, Tenino, Rochester: View Listings

Short Sales

Olympia, Lacey, Tumwater: View Listings       Yelm, Tenino, Rochester: View Listings

Pierce County Listings

Bank Owned

Lakewood, Steilacoom:  View Listings    Roy: View Listings     Puyallup: View Listings

Parkland, Fife, Graham, Spanaway: View Listings View Listings  South Tacoma: View Listings

Short Sales

Lakewood, Steilacoom:  View Listings Dupont: View Listings  Roy: View Listings

Parkland, Fife, Graham, Spanaway: View Listings View Listings

Puyallup: View Listings View Listings   South Tacoma:  View Listings View Listings

All multi-family listings (not necessarily distressed):  View Listings

If you would like to receive our monthly newsletter with all foreclosures in Thurston & Pierce county, please contact Phil at 360-970-9977 or email at Phil@PhilSharpHomes.com

 For The Period of August 1-31 2009

·Data prepared by Phil Sharp, provided by NWMLS

Thurston & Pierce County Market Values: Customized to Suit Your Needs http://www.lewis-mcchordhomevalues.com/

Thurston County Market Trends - Year-to-date August 2009

Residential sales volume for August 2009 is off 3% from July 2009

All Sales (vs. Year-to-date 2008)

 ~ Residential sales volume: off 28% to $585 million

 ~ Residential transactions: off 22% to 2,249

 ~ Mobile home sales on land: off 64% to $10 million

 ~ Plexes (2-5 units) sales: off 58% to $17 million

 ~ Land sales: decreased 57% to $32 million

 ~ Commercial volume: off 74% to $58.5 million

 ~ Average residence: $260,708, off 6%

Existing home transactions sold off 3% in August 2009 from July 2009

Existing Home Sales (vs. Year-to-date 2008)

 ~ Units sold: off 16%; volume: off 21% to $374 million

 ~ 1,427 units sold this year vs. 1,705

 ~ Average price off 6% to $261,843

 ~ Half homes (median) sold for less than $235,000, off 5%

 ~ Average $/SF for homes sold at $153.95 (all sales), off 8%

 ~ Best range: $250,001 - $300,000, with 32.6 per month

 ~ Second best range: $300,001 - $400,000 with 25.4 monthly

7.1 acreage parcels sold monthly, off 47% from last year; average price, $120,146, off 20%

Acreage Sales (vs. 2008)

 ~ 30.3 existing homes sold per month, off 12%; average price: $344,939, off 3%

 ~ Median price for existing homes: $310,000, off 4%

 ~ 3 new single family homes sold monthly, off 50%

 ~ Average price: $337,836, off 22%; median price for new homes: $327,475, off 6%

 ~ The $/SF existing homes: $180.48, off 6%; new: $143.34, off 17%

 ~ Average lot sizes, for existing homes: 4.1 acres, off 6%; new: 5 acres, up 48%

This August’s residential transactions were 6% fewer than last August

New single family homes units sold in August 2009 are up 9% from July 2009

New Single Family Homes (vs. Year-to-date 2008)

 ~ Average sale price: $285,534, off 11%

 ~ Median sale price: $267,487, off 6%

 ~ New homes represent 31% of volume and 29% of units recorded

 ~ 598 sold vs. 744 last year, off 20%; volume: off 28% to $171 million

 ~ Average $/SF: $136.16, off 8%

 ~ Best range: $250,001 - $300,000 with 22.4 monthly

 ~ Second best range: $300,001 - $400,000 with 17.3 recorded per month

Best range: $50,001 - $75,000 with absorption of 12.9 per month, up 10%

Subdivisions (vs. 2008)

 ~ The average lot sold for $62,975, off 27%

 ~ Half the lots sold for more than $55,000 (median), off 25%

 ~ 24.5 sold monthly vs. 29.3 last year, off 16%

 ~ Average lot represents 22.1% of average price of a new home; 20.6% of median to median

Attached unit sales off 13% in August 2009 from July 2009

Attached (vs. Year to date 2008) includes townhomes and condominiums

 ~ Average sale price: $190,076, off 8%

 ~ Median sale price: $185,950, off 4%

 ~ 45% (40 units) new

 ~ 88 sold vs. 184 last year, off 52%; volume: off 56% to $17 million

 ~ Average $/SF existing: $133.54, off 13%; new: $120.29, off 19%

 ~ Best new range: $190,001 - $200,000 with 1.8 per month

 ~ Best existing range: $170,001 - $180,000 with 1.6 monthly

Thurston & Pierce County Market Values: Customized to Suit Your Needs: http://www.lewis-mcchordhomevalues.com/

Dealing with rodents can be expensive not to mention gross!  While dealing with a rodent problem at one of my rental homes I learned that rats have been particularly bad this year in Lacey and Tumwater.  I thought it would be great to post some helpful tips on keeping your home pest free.

• Keep all pet food off the ground and in sealed containers.  Once you see that your pet has eaten pick up the dish.  Rodents love to hoard pet food.  A garbage can with a tight lid is a great way to store it.

• Make sure all trash receptacle areas remain closed.  If you keep your trash under the sink or in a closet make sure those doors close properly.

• Keep your garbage to a minimum.  If you have to take a few trips to the dump before your weekly garbage pickup it is well worth it.  Nothing is more attractive to a rodent than an over flowing trash can.

• Make sure your crawl space cover fits properly and is in good repair.

• Make sure all your crawl space vents have screens.  The cable guys love to knock these off while running your cable.

• Keep all food off the ground.  Just because you have room on the floor of your pantry that doesn’t mean you should store food there.  Use these areas for non food items.

• Keep your lawn and landscaping neat and clean.  Cut back vegetation that gives rodents shelter and food.

 Share this information with your neighbors.  If your neighbors have rodents they will be coming to your house next!

Q:  I do not want to be too close to base so I have been looking at houses around Bonney Lake, Roy, and Pullayup. Places a little off the beaten path but not too far that I have to drive an hour to get to Fort Lewis. Plus schools and crime rate are a factor.

 A:  While I work the entire perimeter of the bases, I sell many more homes in Thurston County than in Pierce.

When I PCS’s to Lewis (with teenagers), everyone I spoke with recommended Yelm/Roy, Lacey/Olympia.  Less crime, better schools, and lower prices.  I ended up in Lacey and was happy with my decision.

Aside from the demographic issues, commuting to the Thurston county communities is vastly better than Pierce.  I-5 south to Lacey (or out the back gate to Yelm), is 15-30 minutes at worst.  Rush hour traffic to the Puyallup areas can exceed an hour, and you are limited to I-5/Hwy 512 (which is bumper to bumper every morning and afternoon), or surface streets which can be just as bad.

If you are unable to view this newsletter, please Download PDF File

Nationwide Agent Network
Phil Sharp“I am available locally to assist you in purchasing a foreclosure property or another property best suited to your needs. Buying or selling, I am here to act as your local real estate specialist.” Phone: 360-970-9977 Email: phil@philsharphomes.com
June 2009 Vol 3 Issue 14 Download PDF File
		Washington Foreclosure Activity Trends Upward in May Washington foreclosure activity rose in May to 3,833 properties with foreclosure filings, a 14 percent increase from the previous month, and 48 percent above the level reported for May 2008, according to RealtyTrac’s latest U.S. Foreclosure Market Report. “Washington foreclosures are up both in May and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although the state’s unemployment rate is just slightly above the national average, it had one of the highest jumps during the past year of more than 4 percent. This is likely a major factor in the overall foreclosure rise.” Complete Story
Bargain Hunters See Bottom in Some Markets By Octavio Nuiry Ask a group of real estate millionaires how they made their money and most will recite some version of this axiom: “When everyone zigs, you zag.” That’s exactly what Tommy Barone and his clients are doing in the South Florida condominium market, and heightened interest in bulk foreclosure purchases is coming from “vulture funds” with millions of dollars to spend on distressed sales, according to Christopher Thornberg, a principal at Beacon Economics in Los Angeles. Thornberg said Wall Street vulture funds are amassing war chests in preparation for a new cycle of opportunities in loans or bonds of struggling financial companies or homebuilders. Complete Story	Here are some of the most recent Investment opportunities in the area.   Bank-Owned Donnelly Dr SE Olympia, WA 98501 Market Value Default Amount $195,000 N/A Beds/Bath Sq. FT 3/2 1,365 Property Type Address Market Value Default Sq. Ft.   AuctionAuction Date: 9/18/09 Pine Creek Ln SE, Lacey, WA 98503 N/A N/A 1,278 GET DETAILS View more properties in Thurston County
Housing Predictor: 10 Million Foreclosures Through 2012 Complete Story
Foreclosure Trends : April, 2009 National Washington Thurston CTY NODs 113,856 0 0 NTSs 180,750 4,077 148 NFSs 61,056 0 0 LISs 138,447 0 0 REOs 113,254 1,775 58			Notice of Default (NOD)A non-judicial document filed by a trustee that starts the foreclosure process. More about NOD Lis Penden (LIS)Notification of pending lawsuit. A judicial document filed by an attorney or trustee that starts the foreclosure process. More about LIS Auction / Notice of Trustee’s Sale (NTS)A filing by notice announcing a public auction. More about NTS Notice (Judgment) of Foreclosure Sale (NFS)An order signed by a judge directing to sell the property at public auction. More about NFS Real Estate Owned (REO)The final step in foreclosure process in which property ownership returns to lender. More about REOs

 REAL ESTATE POST   Real Estate News and Commentary

Brought to you by Phil Sharp Online.com                                                                                  

MLS Statistics * Housing Market Opinion * Real Estate News

Have you been following interest rates?  Although still lower than we have ever seen, mortgage rates have gone up in recent weeks.  The article below briefly states my opinion of the turn around in the market and the impact of mortgage interest rates on our local housing market.  Now is the time to figure out how to take advantage of these fantastically low rates, and maybe even own the home of your dreams.

****We are working with a new lender, offering financing to investors and others having difficulty meeting conforming loan standards…See “Investors” Below.

I invite you to visit my Blog, The Thurston County Post (Online), for local links, real estate news, property information, and additional commentary.

Military:  For Information about the Military Homeowner Assistance Program visit  www.hap.usace.mil.

For More information about me please visit my website PhilSharpHomes.com, or call me at 360-970-9977.  

First-Time Homebuyer Credit Questions and Answers: Homes Purchased in 2009

A. No. To qualify for the first time home buyer credit, the residence must be purchased. By statute, a residence which is constructed by the taxpayer is treated as purchased on the date the taxpayer first occupies the residence. (05/06/09)

Read more at the IRS FAQ page:  IRS First Time Home Buyer Tax Credit Q&A http://www.irs.gov/newsroom/article/0,,id=206293,00.htm

Foreclosure and Short Sale Listings Bank Owned:

Phil’s Opinion~Thurston County Real Estate News; Presented by Phil Sharp                                            

Interest Rates….?

Home sellers have enjoyed a much appreciated increase in sales volume this spring, and buyers have been able to take advantage of some great opportunities.  The market has been sporadic, with much of the sales volume being in the lower price ranges, and in other especially well priced properties.  Both groups have found that our market does not compare to some of the more troubled areas of the country; sellers are obtaining buyers offering reasonable prices, and buyers are finding that while there are good deals out there…we are not having a firesale in Thurston and Pierce Counties.  The question is, will the trend continue and what are the risk factors.

The local economy, while feeling the effects of the economic downturn, is fundamentally sound.  In looking at what makes up our ecomony, we have a very strong base.  As I have discussed before, the federal and local governments, coupled with the relocation to the area and growth of large business concerns, should provide a healthy environment for economic recovery.  

And now….Interest Rates.  The economic stimulous efforts of the fed seem to have had the desired effect on South Sound housing markets.  Seasonal cycles aside, the availability of cheap money is the number one factor in bringing home buyers off of the sidelines.  This is a fantastic time to buy, refinance, move up or trade up.  Locking in a 30 year mortgage today will save you thousands and thousands of dollars over rates of a year ago….and probably of a year from now.

The question is, how long will rates remain low…and can you afford to miss what may be the opportunity of a lifetime to own a home, own a better home, or re-fi to reduce your payments by hundreds of dollars.  Interest rates have gone up in recent weeks, from increadably low to very low, and may even go up a little more.  Increase in demand (and eligability) has caused the increase, which most consider to be within the realm normal market fluctuation.  The numbers to watch are fed and bank rates, which have not gone up, and probably won’t for some time.  If you are trying to time this, watch the economic reports for inflation indicators, fed and bank rate increases.  Remember though, timing any market is only for those with supernatural powers.  

If you have been considering a move to a new home, a move up, or a lateral move, don’t wait too long.  This economy, these interest rates, and these home prices won’t last forever.

To Read More Commentary by Phil and Others, Please Visit the Thurston County Post; A Local Real Estate and Home Ownership Blog

The Numbers

THURSTON COUNTY

For The Period of May 1-31 2009

·          Data prepared by Phil Sharp, provided by NWMLS

MARKET SNAPSHOT:  To receive an email report on the value of your home and other homes in your neighborhood, recent sales and sales statistics…..CLICK> Custom Market Snapshot

IF YOU WOULD LIKE DETAILED INFORMATION ABOUT A SPECIFIC PROPERTY TYPE OR NEIGHBORHOOD, PLEASE CALL ME AT (360) 970-9977 or Email.

Investors

• Check out this Lender!!  I recently met with George Holcombe, VP at PC bank.  His organization is offering purchase money loans to investors as well as owner occupants who can qualify but are having difficulty with conforming loan standards and limits.  George can be reached at  ,  I will be sending out more specifics about this lender and others in a seperate email.

• Yes, interest rates have trended up….But rates are still incredible

• It is a buyers market…but well priced homes are bringing multiple offers, and won’t wait for you to sleep on it.

• After rising dramatically last fall and winter, rental rates have stabilized.  Look for increases again late in the summer as seasonal demand picks …Residential rentals actually pencil again

• Get ready for commercial opportunities…the next phase of the cycle

• Look hard at best future use, conversions to commercial or MF, future development and subdivision opportunities

   Industry News

Click the Links for News Stories:

Obama administration to expand housing program

This link to Inman News is Provided For Your Convenience; Inman News Does Not Provide Content For This News letter.  

To Read More Commentary by Phil and Others, Please Visit the Thurston County Post; A Local Real Estate and Home Ownership Blog

All commentary presented herein was authored by Phil Sharp, and expresses his opinion; unauthorized reproduction prohibited.

The links below contain information about the proposed housing bailout, home buyer tax incentives and foreclosure/short sale listings in our area.  Take the bailout information with a grain of salt…..I don’t think anyone really knows what the final plan will look like.
 
As you know, I have an opinion! 
 
We are, at this moment, seeing a surge in sales.  Pending and closed sales numbers are up (as prices have declined slightly); the low end of the market, and well priced homes across the market, are selling.  This buying spree can be attributed to investors, and to those taking advantage of record low interest rates and bargain basement home prices.
 
Short Sales:  Short sales have gotten a lot of attention lately, as the article below mentions.  At the present time, lenders are giving fairly rapid consideration to short offers, but the lending industry seems to be trying to hold the line when it comes to fair market value.  The big “if” is going to be the impact of the Fed.  If lenders feel that the government will “eat” some of the loss, they will be more likely to negotiate.  If the fed decides to start buying this debt, they will be much less likely to negotiate in anticipation of handing the problem off to someone else (in this case, us as taxpayers). 
 
Bank Owned Properties:  REO’s sales have been very brisk….in the case of homes owned and offered for sale by the bank/mortgage industry, the gloves seem to have come off.  Asset managers have been given the leway to get these properties off the books and are negotiating aggressively to do so. 
 
With bargain home prices, and bargain interest rates, I believe that our local housing market is going to enjoy a pretty good 2009, all things considered.
________________________________________
Homeowner Affordability and Stability Plan….Links to the latest news.
February 18,2009 5pm
On Wednesday, February 18, 2009, President Obama announced his Homeowner Affordability and Stability Plan, designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages. In doing so, the plan not only helps responsible homeowners behind on their payments or at risk of defaulting, but prevents neighborhoods and communities from being pulled over the edge too, as defaults and foreclosures contribute to falling home values, failing local businesses, and lost jobs.  Review the Plan’s summary, fact sheet, q&a, examples

Foreclosure moratorium sparks new interest in short sales

Price Cuts Spur Home Sales 

Largest monthly gain since 2002, but economists warn of sluggish season ahead 

Mortgage Rates Near Record Lows and other Stories from Inman Real Estate News_______________________________________
I hope you find the newsletter useful.
 
Thanks, Phil 

Nationwide Agent Network
Phil Sharp “I am available locally to assist you in purchasing a foreclosure property or another property best suited to your needs. Buying or selling, I am here to act as your local real estate specialist.” Phone: 360-970-9977 Email: phil@philsharphomes.com
February 2009 Vol 3 Issue 5 Download PDF File
6 month National Foreclosure Trends NOD NTS NFS LIS REO Search for Investment Properties>		FORECLOSURE ACTIVITY DECREASES 10 PERCENT IN JANUARY Foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 274,399 U.S. properties in January, a 10 percent decrease from the previous month but still up 18 percent from January 2008, according to the RealtyTrac U.S. Foreclosure Market Report. The report also shows one in every 466 U.S. housing units received a foreclosure filing in January. “The extensive foreclosure efforts on the part of lenders and government agencies appear to have impacted the January numbers,” said James J. Saccacio, chief executive officer of RealtyTrac. Complete Story
Will Loan Modifications Change With Washington? By Peter G. Miller It’s a new year in official Washington with a new Congress, a new President and a new chance for bankruptcy reform, reform which will center on the issue of what to do about unpaid mortgages. In 2005 the bankruptcy laws were made even less friendly for consumers. Under the so-called Bankruptcy Abuse Prevention and Consumer Protection Act borrowers could not even go to court until they had first completed 180 days of credit counseling. The problem, of course, is that homes can be easily foreclosed in most states long before the required counseling period is over. Complete Story	Here are some of the most recent Investment opportunities in the area. Bank-Owned 17th Ave SE Lacey, WA 98503 Market Value Default Amount $118,910 N/A Beds/Bath Sq. FT 0/0 0 Property Type Address Market Value Default Sq. Ft.   View more properties in Thurston County
2008 Year-End Foreclosure Market Report A total of 3,157,806 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 2,330,483 U.S. properties during 2008, an 81 percent increase in total properties from 2007 and a 225 percent increase in total properties from 2006, according to the RealtyTrac U.S. Foreclosure Market Report. The report also shows that 1.84 percent of all U.S. housing units (one in 54) received at least one foreclosure filing during the year, up from 1.03 percent in 2007. Foreclosure filings were reported on 303,410 U.S. properties in December, up 17 percent from the previous month and up nearly 41 percent from December 2007. Complete Story
Foreclosure Trends : December, 2008 National Washington Thurston CTY NODs 64,112 28 1 NFSs 30,210 0 0 REOs 78,887 795 32			Notice of Default (NOD) A non-judicial document filed by a trustee that starts the foreclosure process. More about NOD Lis Penden (LIS) Notification of pending lawsuit. A judicial document filed by an attorney or trustee that starts the foreclosure process. More about LIS Auction / Notice of Trustee’s Sale (NTS) A filing by notice announcing a public auction. More about NTS Notice (Judgment) of Foreclosure Sale (NFS) An order signed by a judge directing to sell the property at public auction. More about NFS Real Estate Owned (REO) The final step in foreclosure process in which property ownership returns to lender. More about REOs
30 yr fixed mtg 5.04% 15 yr fixed mtg 4.68% 5/1 ARM 5.04%