Queen Anne High School Condo auction results-great discounts!

QA High School auctioned off the last remaining 12 units at an average discount of 31% off the asking price, which translated into a price per square foot of $344. The discounts ranged from 21-40% depending on the unit. I was told not many were in attendance and therefore few bidders to drive the prices up.

Some sales are on the rise, is recovery happening?

The road to recovery will come a little at a time. The first area to show the problems was the housing sector and in many areas it seems like the bottom is close if not there (no more free-falling!)

Click here to see the full article about the increase in big-ticket orders and the rise of home sales from The Washington Post.

Developer pays mortgage if you lose your job - great idea.

Developers of Thornton Place, the new community on the south side of Northgate Mall, are offering this incentive to get potential buyers who are concerned about job security. Thought I've not seen the condos yet I cannot comment on the price, finishes, floor plans, etc., but the idea is great on the surface.

Click here to see the full story.

It's a good time to be a first-time homebuyer.

First time homebuyers get to choose from plenty of properties on the market, take advantage of low interest rate and get up to $8,000 back as a tax credit.

Click here to see the full story.

Home Sales Up - Largest Jump in the US in 5.5 Years

One month does not a trend make but this was still exciting news. The lowered prices, amount of Foreclosures and Short Sales, lowered interest rates and the $8,000 tax credit all make the perfect storm for new Buyers. Half of all purchases were made by First-Time Buyers

Click here for the full story.

Population increases in Seattle/Tacoma by 46,000

Having jobs in an area attracts people, which in turn creates a need for housing, and those people feed the local economy. Seattle/Tacoma/Bellevue area increased their population by 46,000 residents; that's a good sign.

Click here for the full story.

New listing in Bellevue. $1,150,000.

Here is my latest listing. A beautiful home in Bellevue (Enatai), just south of Downtown Bellevue.

More people can afford to buy houses than ever before

The ability for the average household to afford to purchase the average house in Seattle got out of whack over the last few years. It's now getting back in check. Affordability hits a 40-year high. In King County the median home sold in February for $375k, the lowest since May 2005, but the average household income is $82,564 which exceeds the national average by 60%. With more product on the market, historically low interest rates and the $8,000 Buyer tax credit it is the time to buy if you want to in Seattle.

Check here to see the entire article.

And one more article on the same topic.