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Bainbridge Island, WA Real Estate News

Last week was packed with housing market data and the news does keep getting better even though the media hasn't caught on quite yet. Wednesday saw December New Home Sales UP 17.5%, blowing away forecasts with a 329,000 annual rate. The supply of new homes dropped to 6.9 months and the new homes inventory slid to 190,000, down 66.8% from its 2006 peak and at the lowest level since 1968. More good news came with an 8.5% boost in the median home price versus a year ago, to $241,500, its highest level since April 2008. The average home price registered a 4.7% gain compared to a year ago.Speaking of prices, the Case-Shiller home price index for the 20 largest metro areas was down 0.5% in November, better than expected. Although prices are off 1.6% in the past year, they're still up 1.2% fro...
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By Paul Pival, A Realtor with the soul of a professor.
(Coldwell Banker Bain)
  Fourth Quarter   The fourth quarter of 2010 did not compare well with 2009. Fewer transactions, slower time to close, a ten percent drop in average sales price.    We do not expect this decline in sales to continue long. As interest rates start to climb (this climb is inevitable), buyers will decide to get off the fence and begin making offers.    If you are a buyer, now is the time. If you are a seller, be patient.   As of this post, there are 161 single family residences on the market, ranging in list price from $69,000 to $4.25 million. The average list price is $863,210.    If you'd like the selling details of the home that closed in your neighborhood, send me an email. I'll be happy to send them to you.    
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By Brenda Prowse
(Prowse and Company)
Bainbridge Island residential properties were selling for a December median price of $554,500, about 9% more than in November and 10% more than a year ago. The more stable three month moving average closed sale price fell about 1% from last month to $515,292 and is 4% higher than a year ago. With inventory expected to rise in January and knowledge that there is a significant amount of shadow inventory, we do not expect prices to continue to rise, and there is a possibility that they will fall in coming months. The Kitsap County 3 month moving average median price is 3% lower than it was a year ago. The 3 month moving average for Bainbridge Island's number of closed sales is 10% lower than a year ago. The 3 month moving average of closed sales is down 21% Countywide from a year ago. The ...
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By Maureen Buckley, Managing Broker/ Owner
(Buckley & Buckley Real Estate)
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By Paul Pival, A Realtor with the soul of a professor.
(Coldwell Banker Bain)
 Closed Transactions Month of December   Please note: we are comparing closings during this year's December and last year's December.   Closings were up 13% this December compared to December of last year.   Transactions closed much faster.  The average selling price was up by nearly 20 percent.      Sellers accepted 18% less than they originally asked.    Inventory on Bainbridge is still good.  It's still a buyer's market.   If you would like details of the home that closed in your neighborhood, call or email me.                              
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By Brenda Prowse
(Prowse and Company)
Bainbridge Island residential properties were selling for a November median price of $508,375, about 5% more than in October and 4% more than a year ago. The more stable three month moving average closed sale price fell about 2% from last month to $518,792 and is 3% higher than a year ago. The Kitsap County 3 month moving average median price is 3% lower than it was a year ago. The 3 month moving average for Bainbridge Island's number of closed sales is 27% lower than a year ago. The 3 month moving average of closed sales is down 26% Countywide from a year ago. The 3 month moving average number of Bainbridge pending sales in November was unchanged from a year ago. The number of active listings on Bainbridge (194) fell 7% from October and is about 3% higher than a year ago.  The inventor...
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By Paul Pival, A Realtor with the soul of a professor.
(Coldwell Banker Bain)
 Closed Transactions Month of November   Only eleven percent fewer closings last month than there were last year during the same time period.  This is an improvement over October's figures.   Transactions closed much faster.  The average selling price was down by twenty-seven percent.   Sellers are pricing their homes much more realistically.   Inventory on Bainbridge is still good.  It's still a buyer's marke.   If you would like details of the home that closed in your neighborhood, call or email me.                      
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By Brenda Prowse
(Prowse and Company)
Bainbridge Island residential properties were selling for a October median price of $483,000, about 15% less than in September and 2% less than a year ago. The more stable three month moving average closed sale price fell about 5% from last month to $529,333 and is 1% lower than a year ago. The Kitsap County 3 month moving average median price is 1% higher than it was a year ago. The 3 month moving average for Bainbridge Island's number of closed sales is 27% lower than a year ago. The 3 month moving average of closed sales is down 24% Countywide from a year ago. The 3 month moving average number of Bainbridge pending sales in October was unchanged from a year ago. The number of active listings on Bainbridge (209) fell 11% from September and is about the same as a year ago.  The invento...
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By Paul Pival, A Realtor with the soul of a professor.
(Coldwell Banker Bain)
 Closed Transactions Month of October     Forty-three percent fewer closings this October than last year.     Transactions closed faster but the average selling price down by twenty-eight percent.    Inventory on Bainbridge is still good. It's still a buyer's market     If you would like details of the home that closed in your neighborhood, call or email me.    
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By Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy
(Napa Consultants)
This week we spent two days on Bainbridge Island, which is West of Seattle on the Puget Sound.  This shot was taken from the ferry coming into Seattle.  The 35minute ride was very pleasant and relaxing.  What a great transportation system.  Bainbridge Island is one of the loveliest places we have visited. WATCH VIDEOS-  Buzz-Worthy Luxury Real Estate Websites  Personal Branding Case Studies   Company Branding Case Studies  About Language of Luxury - JOIN THE LOL COMMUNTIY -  GET FLUENT. GET AFFLUENT!  Linked In, Facebook, Active Rain  Broker Agent Social, Proxio, Real Town, & Bigger Pockets  
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By Brenda Prowse
(Prowse and Company)
Bainbridge Island residential properties were selling for a September median price of $565,000, about 5% higher than in August. The more stable three month moving average of closed sale price fell about 5% from last month to $544,833 and is 6% lower than it was a year ago. The Kitsap County 3 month moving average median price is 4% higher than it was a year ago. The 3 month moving average for Bainbridge Island's number of closed sales is 13% lower than a year ago. The 3 month moving average of closed sales is down 23% Countywide from a year ago. The 3 month moving average number of Bainbridge pending sales in September was unchanged from a year ago. The number of active listings on Bainbridge (235) fell 6% from August and is down 3% from a year ago.  The inventory turnover (total homes ...
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By Paul Pival, A Realtor with the soul of a professor.
(Coldwell Banker Bain)
    Closed Transactions Sept 22-30 Fewer than half the transactions during this period than last year.     Transactions closed faster but the average selling price down by a third.  Inventory on Bainbridge is still good. It's still a buyer's market   If you would like details of the home that closed in your neighborhood, call or email me.
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DEADLINE TO APPLY IS OCT. 20TH, 2010 - See www.biparksfoundation.org for details under "GRANTS"  Bainbridge Island Parks Foundation is now accepting applications for our annual grant funding awards. To be eligible for a grant, groups and projects must meet the mission criteria of the Foundation. To learn more about the eligibility requirements and to obtain a grant application, go to www.biparksfoundation.org and click on the "Grants" link. Grant application submission deadline is Wednesday, October 20, 2010. The Foundation board will announce on Friday, November 5, 2010 those grant applicants invited to make a personal presentation to the board on Wednesday, November 17. Fellow islanders: please help me out and repost this info on your blogs, newsletters, etc. so we can get the word out!
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By Brenda Prowse
(Prowse and Company)
Bainbridge Island residential properties were selling for a August median price of $540,000, about 2% higher than in July. The more stable three month moving average of closed sale price rose about 5% from last month to $574,833 and is 17% lower than it was a year ago. The Kitsap County 3 month moving average median price is 4% higher than it was a year ago. The 3 month moving average for Bainbridge Island's number of closed sales is 35% higher than a year ago. The 3 month moving average of closed sales is down 15% Countywide from a year ago. The 3 month moving average number of Bainbridge pending sales in August rose 3% from a year ago. The number of active listings on Bainbridge (249) fell 7% from July and is up 2% from a year ago. Though we show prices rising and closed sales higher ...
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Favorite Bainbridge Island Restaurant Overall: Four Swallows481 Madison Ave NBainbridge Island, WA 98110(206) 842-3397 Mike Sharp runs this restaurant set inside an historic home; in restaurant years on Bainbridge, this place also has a spot in history as it has been around for 20 years. Yes it is among the more $$$ restaurants on the Island, but we have always found that the service (we never have met a better server than Jose) and the food (not one bad meal in 14 years) are worth it. This is our special occasion restaurant (even our 12 year old son says it is his all-time favorite and he has only been there once!).  We like everything and the menu changes with daily specials. Four Swallows is the Island's longest-lasting "farm to table" restaurant and I have seen Mike shop for the ing...
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Here's a great reminder for buyers still sitting on the fence waiting for home prices to fall a bit and risk an increase in interest rates: Every 1% increase in home loan rates decreases the buying power of an individual by 10% in home price. So if you qualify for a $200,000 home loan today and interest rates increase 1%, the amount you could qualify for would be reduced to approximately $180,000 to maintain the same payment. The numbers:$200,000 loan at 4.00% has a monthly mortgage payment of  $954. $180,000 loan at 5.00% has a monthly mortgage payment of $966. $160,000 loan at 6.00% has a monthly mortgage payment of $959. With rates hitting the lowest levels on record now is the time for home buyers to jump off that fence!  
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By Paul Pival, A Realtor with the soul of a professor.
(Coldwell Banker Bain)
I don't think so. Islanders love their ferry and cherish their rural setting. That's why housing prices are higher here.  But on the average, they are lower than they were last year at this time (see report below). Closed Transactions August 8-21   Except for Silverdale, homes closed quicker this week than they did during the same period last year.  Again, overall activity was less than last year.  The average selling price was less in all four areas.    If you'd like the selling details of the home that closed in your neighborhood,  just ask.                                        
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By Maureen Buckley, Managing Broker/ Owner
(Buckley & Buckley Real Estate)
Pane d'Amore Artisian Bakery has opened its doors between the Treehouse Café and Lynwood Theater. This highly anticipated bakery offers an extensive selection of breads made daily alongside broad assortments of wine and local cheeses, flours, and hard cider. Additionally, they offer condiments from around the world and Busy Bee Farm eggs delivered by bicycle. And while this world class bakery does offer imported delicacies, their emphasis is on local products; such as, greens from Tani Creek Farm (a nearby biodynamic farm), butter and milk from Golden Glen Creamery (near Bow), and Mt. Townsend Creamery cheeses (Port Townsend). Because of this, they are quickly becoming, as their slogan proclaims, "the heart of a community." Visit http:/panedamore.com for a daily Bake Schedule   Pane d'A...
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By Maureen Buckley, Managing Broker/ Owner
(Buckley & Buckley Real Estate)
The Bloedel Reserve no longer requires reservations and they've added casual outdoor shows to be held in the Meadow by the barns. Because sheep were once kept in that area, they've dubbed their new performances the "Sheep Shed Shows." This month's offerings include Jamie Lavel, a premier Celtic violinist and US National Scottish Fiddle Champion, and Eric Ode, musician, poet, and children's entertainer. Because these are outdoor events, guests should bring seating and wear appropriate outdoor garb.   Summer Hours: Wednesday-Saturday 10am-7pm , Sundays 10am-4pm Jamie Laval, August 1 at 4:30pm ● Eric Ode, August 9 at 10:00am   7571 N.E. Dolphin Drive, Bainbridge Island, WA 98110  |  (206) 842-763   http://www.bloedelreserve.org
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