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Is Housing Market Recovering from the Bottom Up?
Posted on 2012 01 18 by Admin
An article in the blog Calculated Risk commented on a Wall Street Journal Article, “From the Bottom Up, Signs of a Housing Recovery.” The article refers to strong buying among lower priced homes in the New York market. We sampled the low end Kitsap Market to see whether it looks like we might be seeing a recovery from the bottom up. Note that the recovery we speak of is an increase in the number of sales, not an increase in prices. Above is number of sales each month in the Kitsap market for 2011 in the under $200k market and the $200-300k market. Trends are hard to discern, but it looks like we might be on to something. See article at http://www.calculatedriskblog.com/2012/01/qotd-housing-markets-get-healthy-from.html
Are Real Estate Sales Stirring for Kitsap County?
Posted on 2012 01 22 by hdnelson
The Wall Street Journal reported on December sales in our national market.
Sales of previously owned homes rose in December for the third straight month, bringing the supply of homes listed for sale to the lowest level since 2006 and offering a glimmer of hope that the housing market could be starting to climb out of a profound downturn.
Kitsap County’s market saw an increase in two of the last three months, but has not seen the level of sustained sales growth discussed in the article. The inventory of homes in Kitsap has fallen to the lowest since 2006. Similar to the US market, Kitsap has an inventory of 6.7 months and saw home prices in December fall 3% compared to a year earlier.
Harrison Hospital Looking for Partner Organization
Posted on 2012 01 17 by hdnelson
Harrison Hospital, the largest private employer in Kitsap County, remains an independent hospital in an era when health organizations large and small are joining together to extend their reach and remain competitive in an era of declining budgets and greater political and regulatory pressure. This article from the Kitsap Business Journal describes how Harrison is now requesting proposals from larger Healthcare networks to maintain or enhance their level of service in the face of the State’s budget crisis and anticipated cuts to Medicare and Medicaid payments. More at http://kpbj.com/breaking_news/2012-01-17/harrison_medical_center_faces_future_with_mission_in_mind
Report that Veterans Can’t Get Mortgages They Need
Posted on 2012 01 17 by hdnelson
Jody Kahn at John Burns Real Estate Consulting filed this report based on interviews with construction executives. In essence it boils down to saying that difficulties with getting VA appraisals to come in at value are affecting many new construction home sales. This reflects the overall problems in the construction industry, the inability of home builders to compete on price with distressed property sales and a resale market that is still falling in price. Our experience in residential resale is that buyers of well priced homes are able to get VA financing.
Optimism Builds in the Housing Market
Posted on 2012 01 16 by hdnelson
An article in today’s USA Today provides a more optimistic view of the 2012 housing market. The article cites Moody’s Analytics as predicting a 12% rise in existing home sales and a 37% rise in new construction - this coming up from very low levels. They also predict that home prices will fall about 2% in 2012 before starting upward again in 2013. Attitudes are changing because of recent improvements in the unemployment rate and other good economic news. See more at http://www.usatoday.com/money/economy/housing/story/2012-01-15/housing-outlook-2012/52584304/1
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