30 States had Positive Changes in House Prices over the last year!

More good news for the real estate industry!!

According to the Office of Federal Housing Oversight's Housing Price Index for the 2nd Quarter of 2008 released August 26th, 30 of the 50 States had positive changes in house prices from June 2007 through June 2008, including our very own Washington State!

Only 4 States (Arizona, Florida, Nevada, and California) experienced overall price declines of more than 5 percent.

The 20 ranked cities in the United States with the worst price declines over the last 4 quarters were ALL in Florida, California, and Nevada.

I really do sympathize with the people of these four fine States. Some of the price declines they have experienced are simply horrible! However, there are 50 States and only 4 with truly bad news for the last year. The rest of the country is simply experiencing a market correction from a rapid increase over the last 5 years combined with some sloppy loan practices that hurt the lending industry. The United States overall had a -1.71% change over the last year (skewed down heavily by the 4 troubled States). However, even with the challenges over the last year, the United States STILL has had a 34.84% increase in home prices over the last 5 years! - How is that supposed to be bad???

Over the last 5 years, Arizona STILL gained 62.68%, Florida STILL gained 54.03%, Nevada STILL Gained 50.81%, and California STILL gained 41.81% despite the losses of the last 4 quarters.

It is time for the news media to put away the "Chicken Little - The Sky is Falling" type stories. The truth is that the nation's real estate market is rebounding.

Great Mount Vernon, Washington Home For Sale!

This is a great home built by Hansell Mitzel with all the bells and whistles that are featured in a Hansell Mitzel Home and some well beyond that... Granite Counters in the Bathrooms, Jetted Tub & shower in the Master Bedroom Suite, raised 4-panel doors, painted millwork, vaulted ceilings, a security system, etc... The list goes on and on...

Call me today at (360) 708-2929 to schedule a showing, or come by the Open House on Saturday August 16th to simply see it for yourself.

The Asking Price is 284,975

The Address is:

1716 Marde Place

Mount Vernon, WA 98274

To get there, go South on 18th from College way, Pass Blackburn Rd, turn Right onto Marde Place and look for the Preview Properties sign.

The Housing Market Has Already Hit Bottom...

The signs are all over the place. The housing market has hit the bottom and is due to spring up in the next couple months.

Here are the basic facts:
- Home sales contracts rose in June. Click here for the Reuters story
- The $300 Billion Housing Bailout Bill has been signed into law.
Click here for the Reuters Video
- The gas prices we've all felt the pain from have caused the cost of home building materials to raise sharply. Home builders will have to charge more for new homes in the coming months. If they don't (or are not able to get the higher prices), then they will slow down construction of new homes causing a shortage. The rule of "Supply & Demand" says if supply of new homes goes down, then the price will go up. Plain and simple.


What does all this mean to you? Well, the market activity is picking up, sales are picking up, the news media is seeing all the signs of the market stabilizing but are trying to stick with the problem stories because bad news sells better. The stories are beginning to be comical... "The real estate industry had some good news (sales are up), but something bad thing could happen at some point in the future."

I believe that the stories that will be reported starting somewhere around January of 2009 will be reporting that the housing crisis is over, the market hit bottom in August or September with the Housing Bailout legislation... All the polititicians, especially the newly elected ones taking office, will be taking credit for having fixed the housing industry problems. We'll have a new President who will be taking credit for having fixed the problems and created new jobs and got the economy rolling forward again...

The smart investors are quietly gobbleing-up the real estate on the market now and will be for the next few months. Next Summer, you'll be able to recognize them... They'll be the ones smiling!!

-Bill

Pending Home Sales Rebound

In a Reuters news video reported by Conway Gittens published August 7, 2008, it was announced that Signed Contracts for pending home sales unexpectedly rose in June.



Watch the video for more...

2008 SICBA Home Tour | Showcasing Skagit & Island County New Construction Homes

Mark your calendars now! The 2008 Skagit-Island County Builders Association (SICBA) Home Tour will take place September 12-14th, 2008.
(Friday 12-6, Saturday 10-6, and Sunday 11-5)

I’m proud to represent the Chaffey Homes in Mount Vernon’s Nookachamp Hills development. We will be the first house of the tour with the fantastic ‘Sheadon’ plan! (The completed Amhurst and Donegal Chaffey Homes will also be open and available for touring.)

Room for everyone can be found in the Sheadon plan at Nookachamp Hills! This three-level basement home offers 5 bedrooms, 3.5 baths and 3,731 square feet of living space. The main level features formal dining with chair rail accents, decorator lighting, accent paint and crown molding. Natural oak floor paves the way for the entry, powder room, kitchen and morning room. The kitchen is a cook’s delight and boasts a butler’s pantry, island countertop with granite and stainless steel appliances. The upper level has a bonus room and three bedrooms, including the lavish master suite with a luxurious soaking tub, full tile surround shower, dual vanities, and his and hers closets with melamine shelving. The basement has even more living area, with two additional bedrooms, one bath and an oversized recreation room with sliders leading to a covered patio. Click HERE for Full Details or call Bill Sauneuf at (360) 708-2929.

Located just East of Big Lake, Nookachamp Hills is set amidst a charming rural landscape filled with rolling hills. Showcasing Nookachamp Valley and mountain views, this remarkable community is nestled in the quiet, rural setting of Mount Vernon. It is bordered by natural habitat and a lake complete with a huge swimming dock to be enjoyed by all homeowners.

Driving Directions:
From I-5, take the #227 exit, go East on College Way to State Highway 9, South approximately 2.7 miles to the Nookachamp Hills Development on the left. Turn left on Nookachamp Hills Drive to top of hill and continue on. The Chaffey homesite is to the left, viewing Otter Pond.

SICBA Home Tour 2008 - Coming September 12-14

Mark your calendars now! The 2008 Skagit-Island County Builders Association (SICBA) Home Tour will take place September 12-14th, 2008. (Fri. 12-6, Sat. 10-6, Sun. 11-5)

I’m proud to represent the Chaffey Homes in Mount Vernon’s Nookachamp Hills development. We will be the first house of the tour with the fantastic ‘Sheadon’ plan!