Open House Saturday

Hello, fellow real estate investors!
Come celebrate the end of summer at my Lake Walker Open House on Saturday, September 3, 2pm until ???

I just closed on this transaction a month ago, with a business partner (another real estate investor from REAPS) who is sharing the out-of-pocket expenses and access to a lakefront vacation home on a small, non-motorized lake between Enumclaw and Black Diamond, about an hour from Seattle.

Come see what improvements we have made to this King County waterfront property, swim or kayak in the lake, sit around the bonfire, and bring a dish to share at our potluck. All guests are welcome.

37632 W Lake Walker Drive SE.

Follow your GPS to Lake Walker, and head to the public boat launch/fishing dock. Turn up the "Do Not Enter" private road sign, and the property will be at the top of that hill on your left.

Happy Investing!

PS. We still need a contractor to give us a bid on rodent-proofing the exterior of the house. So if you know of anyone, please send me a private message at HomeLandInvestment@gmail.com

Open Houses Today

12noon - 2p

226 S 330th Place, Federal Way
MLS #929841
$308,000

1 - 4p

25017 18th Ave S, Des Moines
MLS # 911094
$395,000

Hot, hot, hot!

The NWMLS reports that home prices in King County hit new highs in February as buyers tried to outbid each other for the sparse inventory in much of Western Washington.

With the number of single family homes for sale in King County down nearly 30 percent from a year ago, prices on last month’s sales surged 19.8 percent, jumping from $429,900 to $514,975. Ten other counties in the 23-county area served by Northwest Multiple Listing Service also reported double-digit price gains for single family homes that sold last month, according to its latest statistics. Condo prices surged 19.6 percent.

Member-brokers added 7,931 listings area-wide to inventory last month for a slight improvement from a year ago when they added 7,852 homes and condominiums to their database. At month end, they reported 12,107 active listings, a sharp drop from a year ago when there were 16,946 properties offered for sale.

Current levels of inventory translate to 2.4 months of supply, well below the four-to-six months that industry experts use to indicate a balanced market. In the four-county Puget Sound region, supply is hovering near or below two months, with King County having the lowest level at only 1.3 months of supply.

Seven counties, including King County, reported year-over-year declines in pending sales during February in the wake of inventory shortages. Pending sales in King County fell about 5.6 percent compared to twelve months ago. The selection in the state’s most populous county plummeted nearly 32 percent from year-ago levels while asking prices jumped about 22 percent.

This market is red hot for sellers, and a challenge for buyers...

Happy Investing!

King County Real Estate- the Year in Review Part 2

Here's a very nice graph showing statistics from the NWMLS on single family home sales in King County in 2009.

King County Real Estate - The Year in Review

I am not sure how best to format this information on my blog, but it is a great compilation of 2009 statistics on real estate sales and listings by month from the Northwest Multiple Listing Service. Prices are in thousands (000s), except for average price per square foot.


Date 9-Jan 9-Feb 9-Mar 9-Apr 9-May 9-Jun 9-Jul 9-Aug 9-Sep 9-Oct 9-Nov 9-Dec
For Sale 8651 9711 9822 9426 10041 10079 10019 9761 9718 9256 8484 7545
New Listing 3110 2735 2923 3062 3251 3296 3089 2921 3112 2811 1992 1489
Sold 584 686 957 1125 1307 1728 1727 1546 1662 1729 1558 1404
Pended 874 990 1302 1688 1828 1885 1805 1809 1874 1873 1357 1191
Months of Inventory based on Closed Sales 14.8 14.2 10.3 8.4 7.7 5.8 5.8 6.3 5.8 5.4 5.4 5.4
Months of Inventory based on Pended Sales 9.9 9.8 7.5 5.6 5.5 5.3 5.6 5.4 5.2 4.9 6.3 6.3
Absorption Rate based on Closed Sales 6.8 7.1 9.7 11.9 13 17.1 17.2 15.8 17.1 18.7 18.4 18.6
Absorption Rate based on Pended Sales 10.1 10.2 13.3 17.9 18.2 18.7 18 18.5 19.3 20.2 16 15.8
Avg. Active Price 731 729 729 752 741 744 742 732 719 706 693 684
Avg. Sld Price 451 477 428 440 452 486 463 457 455 450 451 456
Avg. Sq. Ft. Price 204 215 197 202 206 213 209 208 209 206 205 203
Sold/List Diff. % 95 95 96 95 95 95 96 96 96 96 96 96
Sold/Orig LP Diff. % 89 89 90 90 90 90 91 91 92 92 91 91
Days on Market 92 85 85 81 84 79 78 74 76 76 77 79
Avg CDOM 141 149 146 136 135 129 119 112 115 115 117 118
Median Price 380 379 365 380 380 396 380 376 385 374 378 380

PS. Please let me know how to publish an Excel spreadsheet to a Blogger post, if you know how to do that. Thanks!