Chris Loeliger
Windermere Real Estate/S.C.A., Inc
Chris Loeliger | Direct: 425-785-9217 | Email: cloeliger@windermere.com
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A Week's News in One Shot
Posted on September 25, 2007
Tuesday's Interest Rates
Doug Ward, Sr. Loan Officer, usbancorp Mortgage Advisers, LLC,425 885-9544
The Financial Week Ahead, Information courtesy of Doug Ward
Announcements due this week:
It is important to remember...
This information is all about the national market. Of course Redmond, Kirkland, Sammamish, and the rest of King county are all a part of the national market but real estate is a regional market and what we are seeing regionally is healthy. Slower than one year ago? You bet! And good thing too! The wonderful appreciation we have been seeing here for the last few years is not healthy over a really long term.
So what are we seeing here? So glad you asked. Check out this Market Activity chart for the Eastside of King County for the last year. Click on the image for a larger view.
The blue is the number of houses that are currently listed for sale, the inventory. The red is the number of houses that are currently under contract, pending, and will close in the near future. You can clearly see that late last year and early this year the listings and the pendings moved along similar paths. But in June that began to change.
In June the active listings continued to rise while the pendings began to fall off. That trend has continued right up to this week. It is not unusual at all for the pendings to fall off in June. Real estate is a cyclical market and we see this happen year after year. Typically the pendings take a swing back to the upside starting in the early fall before falling away for the holidays. What we are seeing this year though is that the pendings are not picking back up as we move into early fall.
You can see that we have more houses on the market and less houses under contract. The direct effect is that sellers are taking longer to sell their homes and buyers have a larger inventory to choose from.
How will it play out in the long run? I won't make predictions about what that means for the future. I prefer to compare what we are seeing right now with what we saw at the same time last year. We'll have to wait and see. But it is clear this is not the same market we were in last year!
-Chris
Doug Ward, Sr. Loan Officer, usbancorp Mortgage Advisers, LLC,425 885-9544
| Loan Program | Rate | Fee |
| 30 Year Fixed (Conforming) | 6.375% | 0.000 |
| Fixed Jumbo | 7.375% | 0.000 |
| 15 Year Fixed (Conforming) | 6.250% | 0.000 |
| Second | 9.000% | 0.000 |
The Financial Week Ahead, Information courtesy of Doug Ward
Announcements due this week:
- Tuesday numbers are being released on the nation's August home sales. MSN August Homes Sales Report
- Wednesday the MBA Mortgage Applications will be released
- Thursday the second quarter GDP will be released. Expectations are at 3.9% annualized growth. 3.0% and above shows a good strong economy.
- Thursday, New Home Sales (August). Price cuts and buyer perks are not expected to show any effects yet.
- Friday, Construction Spending (August). Critical as the housing slowdown is weighing heavily on the construction industry.
It is important to remember...
This information is all about the national market. Of course Redmond, Kirkland, Sammamish, and the rest of King county are all a part of the national market but real estate is a regional market and what we are seeing regionally is healthy. Slower than one year ago? You bet! And good thing too! The wonderful appreciation we have been seeing here for the last few years is not healthy over a really long term.
So what are we seeing here? So glad you asked. Check out this Market Activity chart for the Eastside of King County for the last year. Click on the image for a larger view.
The blue is the number of houses that are currently listed for sale, the inventory. The red is the number of houses that are currently under contract, pending, and will close in the near future. You can clearly see that late last year and early this year the listings and the pendings moved along similar paths. But in June that began to change.
In June the active listings continued to rise while the pendings began to fall off. That trend has continued right up to this week. It is not unusual at all for the pendings to fall off in June. Real estate is a cyclical market and we see this happen year after year. Typically the pendings take a swing back to the upside starting in the early fall before falling away for the holidays. What we are seeing this year though is that the pendings are not picking back up as we move into early fall.
You can see that we have more houses on the market and less houses under contract. The direct effect is that sellers are taking longer to sell their homes and buyers have a larger inventory to choose from.
How will it play out in the long run? I won't make predictions about what that means for the future. I prefer to compare what we are seeing right now with what we saw at the same time last year. We'll have to wait and see. But it is clear this is not the same market we were in last year!
-Chris
