Bainbridge Island, WA Real Estate News

By Paul Pival, A Realtor with the soul of a professor.
(Coldwell Banker Bain)
   Closed Transactions Month of September   Please note: we are comparing closings for September of this year to the same month last year. The Bainbridge market continues to improve. 44% more homes closed last month.   Transactions closed 47 days faster.  The average selling price was down 32%.   Sellers accepted nine percent less than they originally asked. There are 235 homes in inventory,  34 fewer than last month, at all price ranges (the highest listing is $8.8M).  Average listing  price is $956,000, up again from last month) , with  the median price rising from $645,000 last month to $670,000.   In summary, Bainbridge has fewer homes in inventory with prices higher than last month. It is still a buyer's market, but the trend is moving toward neutral.  If you would like details of ...
Comments 0
By Paul Pival, A Realtor with the soul of a professor.
(Coldwell Banker Bain)
 Closed Transactions Month of August   Please note: we are comparing closings for August of this year to last year's August.   10% more homes closed in August this year.   Transactions took about 22 days longer to close.  The average selling price was down 26%.   Sellers accepted seven percent less than they originally asked. There are 269 homes in inventory,  11 fewer than last month, at all price ranges (the highest listing is $8.8M).  Average listing  price is $924,143, up from last month) , with  the median price dropping from $657,000 last month to $645,000.     In summary, Bainbridge has fewer homes in inventory with prices higher than last month. It is still a buyer's market.   If you would like details of the home that closed in your neighborhood, call or email me.          
Comments 0
By Brenda Prowse
(Prowse and Company)
Bainbridge Island residential properties were selling for a July median price of $515,000, about 6% lower than in June and 3% lower than a year ago. The more stable three month moving average closed sale price fell 2% from last month to $529,500 and is 4% lower than a year ago. The Kitsap County 3 month moving average median price is about 3% lower than it was a year ago. The 3 month moving average for Bainbridge Island's number of closed sales is about 17% lower than a year ago. The 3 month moving average of closed sales is down 12% Countywide from a year ago. The 3 month moving average number of Bainbridge pending sales in July was down 13% from a year ago. The number of active listings on Bainbridge (277) rose 8% from June and is about 3% higher than a year ago.  Inventory on Bainbri...
Comments 0
Last week's silver lining for housing came in the form of mortgage rates, pushed lower by the cloud of financial market turmoil. The average 30-year fixed rate stayed near historic lows, while the average 15-year fixed rate hit a new low for records back to 1991. The average rate for 5-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) also made a new low for records since 2005. The Mortgage Bankers Association (MBA) reported purchase loan applications UP 5.1% over the week before and UP 5.9% over a year ago.But buyers shouldn't be complacent. The latest MBA forecast says rates on 30-year fixed-rate mortgages could rise the last three months of this year and continue to go up next year. Freddie Mac's Chief Economist sees the housing market "firming," citing CoreLogic's Nation...
Comments 1
With the tepid economy, no one expects the Fed to touch the Funds Rate. But everyone will be carefully analyzing the policy statement coming out of the August 9 FOMC meeting for any indication if new quantitative easing (QE3) might be in the offing -- another massive multi-billion dollar bond buying effort to kick-start the economy.Observers do expect some positive economic news this week. Increased exports should shrink the June Trade Balance. On the consumer front, July Retail Sales are forecast stronger than a month ago, with and without auto sales. From my weekly enewsletter for real estate pros, INSIDE LENDING, for the week of Aug. 8, 2011 
Comments 0
Italian debt probs helped bonds all week, though prices retreated on Friday after Italy said it would speed up fiscal reform if the European Central Bank bought its bonds. The FNMA 4.0% bond we watch ended the week up .98, at $102.16. Despite the worry that bond markets would see a spike in yields, the opposite happened: national average mortgage rates headed south for the week, hitting new lows in some cases, in Freddie Mac's weekly survey.  From my weekly enewsletter for real estate pros, INSIDE LENDING, for the week of Aug. 8, 2011  
Comments 0
You can't sugar coat last week's stock market performance, the worst drop in over two years. You also can't come up with a consistent explanation for why investors were so intent on selling. Congress and the President reached an agreement to raise the debt ceiling and it did have something for everyone.  Government spending will still rise this year and continue for the next 10. Yet government size will also shrink, as federal spending is slated to drop by about 2% of GDP in the next 10 years. Some worried the U.S. would lose its AAA credit rating, which finally happened Friday night, but others think that will actually help Washington get fiscally serious.Bearish Wall Streeters fretted about recession, with lower than expected ISM Manufacturing and Services readings. But these were sti...
Comments 1
There's a Fed meeting on Tuesday but no one sees a rise in the Funds Rate coming out of it. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same. Current Fed Funds Rate: 0%–0.25% After FOMC meeting on: Consensus Aug 9 0%–0.25% Sep 20 0%–0.25% Nov 2 0%–0.25% Probability of change from current policy: After FOMC meeting on: Consensus Aug 9      <1% Sep 20      <1% Nov 2      <1% From my weekly enewsletter for real estate pros, INSIDE LENDING, for the week of Aug. 8, 2011  
Comments 0
From my weekly enewsletter for real estate pros, INSIDE LENDING, for the week of Aug. 8, 2011:   Date Time (ET) Release For Consensus Prior Impact TuAug 9 08:30 Productivity-Prelim. Q2 -0.6%% 1.8% Moderate TuAug 9 14:15 FOMC Rate Decision 8/9 0-0.25% 0-0.25% HIGH WAug 10 10:30 Crude Inventories 8/6 NA 0.950M Moderate ThAug 11 08:30 Initial Unemployment Claims 8/6 409K 400K Moderate ThAug 11 08:30 Continuing Unemployment Claims 7/30 3.700M 4.730M Moderate ThAug 11 08:30 Trade Balance Jun -$48.0B -$50.2B Moderate FAug 12 08:30 Retail Sales Jul 0.5% 0.1% HIGH FAug 12 08:30 Retail Sales ex-auto Jul 0.2% 0.0% HIGH FAug 12 09:55 Univ. of Michigan Consumer Sentiment Aug 62.5 63.7 Moderate FAug 12 10:00 Business Inventories Jun 0.5% 1.0% Moderate  
Comments 0
By Paul Pival, A Realtor with the soul of a professor.
(Coldwell Banker Bain)
 Closed Transactions Month of July   Please note: we are comparing closings for July of this year to last year.   80% more homes closed in July this year.   Transactions took about 65 days longer to close.  The average selling price was down seven percent.     Sellers accepted 9% less than they originally asked. There are 280 homes in inventory, 31 more than last month, at all price ranges (the highest listing is $8.8M).  Average listing  price is $890,000, down from last month) , with half the inventory under $657,000.     In summary, Bainbridge has more homes in inventory with prices lower than last month. Still a strong buyer's market.   If you would like details of the home that closed in your neighborhood, call or email me.    
Comments 0
Tuesday's June New Home Sales are forecast a tick up from the prior month, but Thursday's June Pending Home Sales are predicted down. Also on Tuesday, July Consumer Confidence should be slightly down, while Friday's Michigan Consumer Sentiment will come in flat. The less than upbeat consumer mindset is no doubt caused by the slowing recovery, expected to be confirmed by Friday's Advanced Q2 GDP reading. From my weekly enewsletter INSIDE LENDING, for real estate pros, July 25, 2011
Comments 0
Last week included both problems and progress in the housing market. Getting the probs out of the way, June Existing Home Sales came in down 0.8% versus May, to an annual rate still below 5 million units, lifting the months' supply to 9.5. But all the sales decline was from condos and coops, single-family sales staying the same. We appear to be bouncing along a bottom, as the median price of an existing home rose for the month and is now up 0.8% from last year. Average prices are up 2.7% versus a year ago.But strong progress could be seen in the new homes market, as June Housing Starts were UP 14.6%, with gains occurring in all major regions. Multi-family starts, which are very volatile month-to-month, were up strongly, but so were single-family starts, UP 9.4% over May, while new build...
Comments 0