More Good News For Our Region

King County home sales in March were up 65% from March 2009, our area's 10th consecutive monthly increase. Pending sales in the area were the highest they've been since May 2007.

For more details, Click Here.

If you have any questions, or would like to learn more about your local market, feel free to contact me anytime.

Rob (206) 799-2318 or robh@remax.net

You're Invited! Green Lake Wines Grand Opening - Sunday 11:00 - 5:00pm

Attention Wine Connoisseurs:

You're invited to the Grand Opening of Greenlake Wines, (located at 1400 N. 80th St - just up the street from Dukes on Greenlake), this Sunday March 28th from 11:00 - 5:00pm.

My friends Chris and Marcie Taylor recently designed and opened the brand new Greenlake Pointe Building on the corner of 80th and Interlake Ave N, and were kind enough to allow me to invite all of my friends to this special event.

Tiki Rob's Wine Specials:

Owner and wine expert Richard Kinssies is offering specials on Pinot Noir, (my personal favorite). Normally $13 a bottle, Richard will be offering three bottles for $12 at this event. Tell him Tiki Rob sent you!

They'll be roasting a pig, so snacks and free wine tasting will be available for everyone. Richard owns two other wine shops in Seattle, has been a feature writer for the Times and P-I, and even has a wine school. To learn more about Richard, visit: www.seattlewineoutlet.com.

I'll be at an open house during most of this event, (see the flyer for the Edmonds home below), but will try to stop by once I'm finished. I hope you all take advantage of this invitation to try some great wine, meet Richard, save money, and enjoy a beautiful spring afternoon at Greenlake.

Enjoy! Rob

For all of your real estate needs, remember to visit www.tikirobs.com

P.S. I Love You Dad

Club Karma March News

Happy Friday Gang,

Some positive news for our area: Pending sales are up 45% over last year at this time. Closed transactions are up 33.5% over this same span. (The ninth straight month of year over year gains). In addition, prices in Seattle inched up 1.4% in February, the second month in a row of gains, after nearly two years of declines.

While prices are improving in Seattle, values in South King County continue to fall due to higher levels of foreclosures and short sales, (26% of all active listings in this area fall under these catagories). Snohomish County is a mixed bag as sales are up 53%, but prices are down 10%. Conversely, higher end neighborhoods such as Capital Hill and Madison Park are booming. 39 houses sold in February with a median price of $596,000, versus just 17 sales one year ago, with a median price of $409,000.

Part of the reason for the up-tick in higher end sales is that jumbo rates are currently at a 5 year low of 5.97%. (Loans over $567,500). Due to the return of the stock market, many people's portfolios have recovered up to 30 or 40%, allowing for more confidence to make large purchases.

Another positive sign is that Washington's job numbers posted their first gain in January since November 2008, (the largest one month gain in nearly three years). It was recently reported that February's numbers lost much of this momentum, still as rocky and un-even as stabilization may be, its a point of pride to see our region leading the way on our nation's eventual road to recovery.

If you, or anyone you care about has any real estate needs or questions, feel free to contact me anytime...I'd love to help. I also welcome you to visit www.tikirobs.com for all of your real estate needs.

Have a terrific weekend!
~ Rob

Rob's New Listings

Seattle - Broadview $495,900
Sale Pending after only 9 days on the market!
To print a flyer or view additional information and photos: Click Here

Lynnwood - Alderwood Mall $285,000
(Active)
To print a flyer or view addtional information and photos: Click Here

Edmonds - Meadowdale $259,950

(Active)

To print a flyer or view additional information and photos: Click Here

Merry Christmas and Happy New Year!

Aloha Everyone,

My family and I thank you for your continued friendship and support over the years. We wish you health, happiness, and prosperity in 2010, and for many years to come.

To help keep you informed and ahead of the curve in 2010, I've created a Club Karma Page on Facebook. I would like to invite you to join us by becoming a fan.

To become a fan, Click Here or on the Club Karma Icon above my profile, and you'll instantly have unlimited access to Market Updates, Hot Trends, News Releases, private invitations to events, as well as chances to win great prizes throughout the year. (You'll have to sign in to Facebook and then click on "Become a Fan" once the Club Karma page opens).

Think of it as a trusted place you can go to ask questions or acquire information for yourself and other important people in your life. It's only a few days old and I'd love for you to join. You and your friends are always welcome in the Club Karma Family.

Happy New Year!

Rob

Direct: (206) 799-2318
E-Mail: tikirobs@yahoo.com

Website: www.tikirobs.com

November Update: The Full Story

Like you, I have been overwhelmed with e-mails and messages from mortgage specialists other professionals in my industry talking up the recent tax credit extension.

While I'm extremely happy the credit has beem extended, there's several more reasons for buyers to take advantage of our market besides this short term financial incentive.

I feel those of us in the industry owe you more than tax credit news, and to that end I'm here to share the "Full Story" on what's brewing in our market. (The news is good folks).

• Affordability is now the best its been since 1970
• Pending sales were up 63% in our area from one year ago
• Inventory is down 20% in our area from one year ago
• October was the 5th straight month of year over year increased sales in our area
• Interest rates remain at 40 year lows. (This gives buyers 10% more buying power)
• CNN Money rated Seattle as one of the 5 best recovery bets among housing markets in our nation.
• National inventory is currently 7.8 months, down from 12.4 months in January
• October's one year price decline of 3.7% in King County was the smallest in a year. (Median price for a single family home is currently $377,500, down from $392,000 last October
• Though unemployment is over 10% nationally, and around 9% locally, the amount of jobs lost last month was the lowest figure since January. (Remember, historically job losses continue for awhile after Recessions end, because it takes time for companies to recover from their losses before they are confident in hiring again

I'm sure by now many of you have read the eligibility requirements on taking advantage of the tax credit, still there are many angles to the new credit that people are unaware of. Did you know you that former homeowners who are currently renting might still be eligible for the $6,500 homeowner tax credit? To learn more about this, and other facts about the revised tax credit, I invite you to visit http://www.tikirobs.com/, and open the "New In 2009" link.

I'm glad to share positive news with you after all of the turmoil we've endured the past couple of years. The market continues to show signs of stabilization, and that's a necessary step in the eventual recovery of our entire financial system.

If you're interested in taking advantage of current market conditions, or have any questions, feel free to contact me anytime...Aloha, Rob

October News: Major Changes Coming for Condo Buyers and Sellers

Before I get to the news, I want to sincerely thank everyone who was involved with me be named a "2009 Best In Client Satisfaction Real Estate Agent", as recently reported by Seattle Magazine. This is a cool award, and I appreciate the support of everyone I've worked with this year. On to the good stuff...

Local Update: Pending sales are up 25% from one year ago. This is the 5th consecutive monthly increase in our region, an excellent sign for our area.

Inventory is down 18% from 2008, interest rates continue to hover near the 5% mark, (compared to 6.48% 12 months ago), and affordability is at an all-time high. There has been no appreciable drop in home values since January, and in some areas there's been small appreciation. For those who are comfortable with their personal finances, this is an excellent time to buy a home, condo, or townhome in the Northwest.

Proposed Changes Coming to the Condo Market, effective November 2nd:

1) The number of units in a given complex that already have FHA financing may not exceed 30%. If a complex has 30% or more FHA financed units, it will not be open for any new FHA purchases. (There has never been a limit prior to this change).

2) FHA Spot Approvals will be eliminated. Condos must be on the FHA's approved list to be eligible for FHA financing. (Prior to this, Spot Approvals were allowed by most lenders).

3) Many projects which are currently on the FHA Approved list will be removed. FHA plans to remove all projects approved prior to 11/2 from their approved list. These projects will require re-approval by FHA, (under all of the new guidelines), and the estimated turn around time for project review by HUD is 8+ weeks.

Summary: For years FHA approved buyers have had an excellent chance of finding a unit in an FHA approved complex, therefore allowing them to proceed with a purchase. On November 2, all of this will change and we anticipate it will be extremely difficult for FHA condo buyers to pursue purchases. Since nearly all purchasers are using FHA financing, these next 3-6 months are going to be very interesting.

National News: Nationwide sales are up 14% from January, with inventory currently at 3.6 million homes, the lowest level in 2+ years. This equates to a 8.5 month suppply of homes, which continues to inch closer to the 7.5 month level which historically coincides with the stabilization of home prices.

1 in 3 deals include a Distressed Property, therefore values are still down from 2008 levels. (Distressed properties sell on average for 15-20% less than traditional homes). Stay tuned to see how the 4th quarter plays out...Wall Street is up, consumer confidence is up, job losses continue to shrink, and pent up demand for home buyers and sellers is very real. Banks will begin to release more inventory over the next several months, so how our nation's housing market responds will be a significant indicator of how close we are to true price stabilization.

Remember to visit the updated www.tikirobs.com for all of your real estate needs.