My career began in Palm Springs, CA which is a small resort town. Lots of second homes and sellers you never see, just unload their properties for them. I started in 1980. Thats a whole nother story. Then on to So. Orange County in CA where the emphasis was on investment. Not is this the right home for my family, but how much can I make when I sell! Oh yeah, and how soon after closing can I start my law suit.
Port Townsend been a refreshing change for me. In the 10 years I have been involved in selling here, I have heard of only 1 lawsuit threatened, and not sure if there have been any in my office the whole time I have been here. I have dodged that bullet for 30 years, maybe because I am a goodie two shoes and like to make sure there are no grey areas. All of the clients I have encountered in Port Townsend have been very nice people, looking for a real home and no plans to flip in the future. Makes the job seem a lot more pleasant and worth while.
So how are we doing. Last I heard we went from 130 agents in Jefferson Countcory down to around 100 for 2009. Pace of sales over 2008 has slowed dramatically, but values have held pretty steady. For the quarter ending in March, sales were down 40%: 40 closed sales compared to 70 in the same quarter last year. That is a very small sample to draw from. The median price of all homes sold in the county was $247,500( down 22% from a year ago) the median price dropped just 5% in Port Ludlow, a small neighboring community and acturally rose 5% in Port Townsend. According to report I read in the Port Townsend Leader Newspaper, the median closed sale was $337,000 in Port Townsend. We have mostly been on a plateau price wise since 2006.
Offers are being accepted at about 93% of the asking price, which used to be around 96-98% in the hottest market a couple of years ago. And of course there are consistent price reductions. Fortunately you can count on one hand the number of foreclosures in our little town.
Wishing you all a great spring season with renewed energy and passion for your business.
I am in Central Florida and we are just now seeing some end to the downturn. If a property is competively priced - you may even have to bid higher than asking price.
Sandra, Pt Townsend is one of our favorite places to visit! Charming architecture and great waterfront dining. You are a lucky girl.
Happy Selling.
Rob,
Glad things have picked up for you. It seems like Florida was really hit hard. I have only been to Florida once, on the way to take a cruise and go to see South Beach. That was awesome. Will never forget it.
Have a great Spring and Summer.