Inventory in Edmond continues to drop and price per SQ FT is
holding. During the last month the inventory has continued to drop and being in
a multiple offer situation is not a surprise anymore. The slight increase in
interest rates seems to have [%readmore%]motivated some buyers to start looking for a new
home. The projected forecast for economy for North King and South Snohomish
Counties is that by the end of the year we will starting seeing some slight
appreciation in home values. Last year 30% of sales were for all cash which
indicates that investors are also in the market now. The chart below show that
the inventory levels have continued to drop and compared to Feb 2011 we have
38% less inventory, the pending sales are up by 16.6% and the closed sales are
up 23%. I have also heard that the Shadow Inventory will slow down somewhat
because we are in an election year. That means that we will not have the banks marketing
their inventory as fast as in the recent past. The chart is based on homes
priced between $300,000 and $500,000 in zip codes 98020 & 98026.

The next few months are generally considered the best months to buyers sell in the Puget Sound region. 
You’ll see a number of new listings coming on the market and activity
for buyers is also higher.  Currently in
Edmonds within the price range from 300,000 to 500,000 there are[%readmore%] 18 listings with
an average price of $354,491.  The number
of listings that are pending is 12. 
These are the 2 numbers that we used to calculate months of
inventory.  If you divide active listings
by pending sales you arrive at that number. 
This case the numbers 1.5 in other words we only have 1 ½ months of
inventory.  Also of some interest is that
for the active listings the original list price was 358,000 but currently with
price changes and reductions that current list priced now is still 98.75 of the
original listing price. This is telling us that there’s not much pressure for
prices to come down at present time.  The
last number that also paints a picture is that of the 25 properties that were
sold in the last six months in this area the average market time was just 50
days.  I hope that this will help your
decision whether to buyers sell.  If you
have other specific questions you can e-mail me at marketwatch@northwestrealestate.com
I will be happy to answer any of your questions.

Market in Edmonds
is in the transaction phase. Here is the supporting information and
explanations. Consider that the price range of $300,000 thru $550,000 leads the
market as an overall advance indicator. Here is what that is telling us now: [%readmore%]

·        
The average market time for the 90 properties
sold is just 63 days.

·        
The number of Active Listings in this price
range has dropped to 52.

·        
As I write this report there are also 21
Listings that are Pending.

The Months
of Inventory is now down to Active Listings/Pending= 2.47 months this is in
spite of the fact that the holidays are one of the slower times of the year for
buyers to be purchasing. You can look for the purchase to accelerate over the
next few months and the prices should be holding. If you are looking for a
great time to buy this might be close to the bottom. The factors that have come
into play are that the interest rate is hovering around 4% there is still close
to 2 months inventory and prices have not started increasing.

One of the more interesting things that happen when the
market starts to change is that there is some disbelief or uncertainty by the
parties that are coming into control. It is like they are just testing the
water.  Below is a chart that provides
some insightful information. [%readmore%]For me the key is that of listing sold in Edmonds
over 40% sold in less than 30 days and at 99.57% of the listed price. It is
very doubtful   that any of those would have been short sales just because most short sales take months just to get a response back form the bank and even then only approximately 14% close. Another strong indication of the change in the market is that the
numbers of new homes starts is starting to rise.

Thanks for visiting,

DaysOnMarket
Breakdown and Average % of List Price received on Solds by Market time:

0-30 Days             31-60 days           61-90 days           91-120
days         120+ days

No.
of Listings        92                           50                           20                          16                           48

Breakdown %       40.53%
                 22.03%                    8.81%                    7.05%                  21.15%

Med SP % LP       99.57%
                 96.29%                  95.52%                  96.51%                  95.67%

Have ever wondered what
how much difference is it if you live in the bowl area of Edmonds as compared
to the surrounding area? The latest data for October 2011 shows that the difference
in the amount of time it took to sell a home in the zip code of 98020 as
compared to the 98026 was substantial. The market time for similar priced homes
with the Edmonds zip code of 98020 that closed in October was 74 day. This compares
with 138 days for 98026. That is almost ½ the market time of 98026 also of
interest is that the Percentage of the sale price compared to listed price is consistently
higher as well.

Below are the current
stats for both zip codes combined.

Residential

Pending
Sales                     2- Bedrooms       3 Bedrooms         4
Bedrooms         + Bedrooms         All Bedrooms

#
Units                                   6                              32
                          24
                          8
                         70

Average
List Price             $184,125               $309,332               $433,994               $380,988
       $349,531

Average
Market Time       69                           89                           59                           144                         83

Average
Square Feet        1,542                      1,714                      2,490                      2,627                  2,069

Sold

#
Units                                   14                           127                         74                           26                       241

Dollar
Value                         $3,661,085           $41,302,705         $28,591,591         $12,733,61  $86,288,991

Average
List Price             $267,054               $338,109               $402,357               $499,845
       $371,158

Average
Sold Price            $261,506               $325,218               $386,373               $489,754
        $358,046

Average
Market Time       28                           74                           63                           55                        66

Average
Square Feet        1,423                      1,807
                     2,486
                     3,111                  2,134

%
of List Price                     99.28                      96.85                      96.79                      98                    97.07

Let me know if you find this of interest.

What I do for a typical interior shoot.

Start with taking the lighting measurement so that the outside (windows) are the way you want. You can chink your shots using the histogram until that looks good or use an incident light meter. If the home has a view then you want to[%readmore%] expose through the windows for that. At this point I don’t pay much attention about the interior and it will look dark at this point. If there is something that detracts from the home then expose the windows so that there is some definition around them but mostly they will be vey light.

Let me know if this helps, and I will add more later.

• Focus and depth of field
• Distorted images
• Using a wide angle lens
• Improving your lighting
• Lighting setups
• Use Landscape Camera Orientation Only
• Panoramic Photos
• Color Correction
• Correct use of High Dynamic Range Photography
• Watch out for background distractions
• Using too many or to few photos
• Reflection that show the photographer in the image
• Stage your photos
• Best time of day

~