"2010 Year-End Review"
Ocean Shores/North Beach
Newsletter
Presented by April Swenson,
CRS, Realtor & Managing Broker for Coldwell Banker Ocean Beach Properties
aswenson25@juno.com 360-589-2777 cell/text www.OceanShoresInfo.com
NOTABLE NEWS/EVENTS for 2010
KITE FESTIVAL 2010
The kites flew high on the beach of Ocean Shores for June 5th-6th. Held just off the Chance a La Mer Ave (or Shilo) beach access street. See more info and pictures at www.OceanShoresInfo.com/pics/kitefestival2010.html
FIVE STAR DEALERSHIPS SAND & SAWDUST FESTIVAL 2010
The wonderful event of sandcastle building and wood carving was held on June 25th-27th. This is personally one my favorite events. See more info and pictures at www.OceanShoresInfo.com/pics/sand&sawdustfestival2010.html
INDEPENDENCE DAY 2010
Another personal favorite of mine. Tons of fireworks set off on the beaches of Ocean Shores. See more info and pictures at www.OceanShoresInfo.com/pics/july4th2010.html
STREET LID INFO
At the end of October 2010, the City of Ocean Shores passed the final assessments for the Street LID. The pre-payment 10% discount period ended on November 29, 2010. For those who did not pre-pay, the first payment is due this November 2011 and payments are due each subsequent November for the next 18 years at an annual interest rate of 7.25%. As of January 21, 2011, 4,910 parcels out of a total of 13,232 parcels paid off the Street LID (about 37%). See more information at www.OceanShoresInfo.com/news/streetLID.html
OTHER NOTABLE LOCAL NEWS
- I earned my Certified Residential Specialist (CRS) designation in December after working on it for the past 3 years. Only about 4% of Realtors have earned this designation.
- Coldwell Banker Ocean Beach Properties is the #1 Listing & Selling Office in Grays Harbor County for 2010. Out of the 5 real estate offices in Ocean Shores, Coldwell Banker OBP holds approximately 49% of the market share (volume closed in 2010). (Per NWMLS data)
UPCOMING EVENTS
February 12th-13th ~ Antique & Collectibles Show: held at the Convention Center.
March 5th-6th ~ Beachcombers Fun Fair: exhibits, seminars, Dash for the Treasure or Trash event, etc.
March 19th ~ Razor Clam Festival: chefs compete for the "Best of the North Beach" title; vendors & food booths, etc.
April 8th-10th ~ Photo & Fine Arts Show: artists display their works at the Convention Center.
BUYS IN OCEAN SHORES
Click on the following links to view the MLS flyers for some good deals on properties in Ocean Shores:
Homes Under $100K
Homes $100K-$150K
Homes $150K-$200K
Homes Over $200K
View Homes
Waterfront Homes
Lots $15K or Less
Lots $15K-$20K
Lots Over $20K
Waterfront Lots
2010 MARKET ACTIVITY/UPDATE
(January 1st thru December 31st)
The number of properties sold in Ocean Shores is slightly UP from a year ago (356 properties in 2010 compared to 349 properties in 2009). The numbers are showing that Ocean Shores is still dominating the market for affordability and productivity (# of properties closed) compared to the other beach towns along the Washington Coast.
OCEAN SHORES MARKET:
Click on the following links to view the MLS flyers for sold properties (4th Quarter 2010 - Oct 1st thru Dec 31st):
Sold Homes
Sold Lots
Sold Condos
Sold Commercial
2010 Year-End
|
Homes
|
Land
|
Condos
|
Multi-Family
|
Commercial
|
Total
|
Current Listings
|
226
|
475
|
149
|
5
|
17
|
872
|
Pendings
|
18
|
16
|
0
|
0
|
0
|
34
|
Solds
|
176
|
159
|
17
|
1
|
3
|
356
|
Sold Volume
|
$29.77M
|
$4.44M
|
$1.9M
|
$149,500
|
$602,000
|
$36.86M
|
Sold Median Price
|
$150K
|
$17,500
|
$62K
|
$149,500
|
$225K
|
|
Avg. Days on Market (solds)
|
219
|
312
|
339
|
667
|
212
|
|
VS.
2009 Year-End
|
Homes
|
Land
|
Condos
|
Multi-Family
|
Commercial
|
Total
|
Current Listings
|
174
|
455
|
86
|
3
|
12
|
730
|
Pendings
|
21
|
11
|
6
|
0
|
0
|
38
|
Solds
|
179
|
133
|
17
|
4
|
7
|
349
|
Sold Volume
|
$29.77M
|
$4.44M
|
$1.9M
|
$668K
|
$2.41M
|
$41.7M
|
Sold Median Price
|
$158,500
|
$23K
|
$100,500
|
$163,500
|
$169K
|
|
Avg. Days on Market (solds)
|
146
|
173
|
204
|
88
|
98
|
|
NORTH BEACH (Ocean City to Moclips) MARKET:
Click on the following links to view the MLS flyers for sold properties (4th Quarter 2010 - Oct 1st thru Dec 31st):
Sold Homes
Sold Land
Sold Multi-Family
2010 Year-End
|
Homes
|
Land
|
Condos
|
Multi-Family
|
Commercial
|
Total
|
Current Listings
|
60
|
162
|
1
|
4
|
8
|
235
|
Pendings
|
9
|
6
|
0
|
0
|
0
|
15
|
Solds
|
28
|
9
|
2
|
1
|
0
|
40
|
Sold Volume
|
$6.87M
|
$402K
|
$256K
|
$125K
|
$0
|
$7.65M
|
Sold Median Price
|
$177K
|
$45K
|
$128K
|
$125K
|
$0
|
|
Avg. Days on Market (solds)
|
182
|
602
|
524
|
548
|
0
|
|
VS.
2009 Year-End
|
Homes
|
Land
|
Condos
|
Multi-Family
|
Commercial
|
Total
|
Current Listings
|
42
|
83
|
???
|
1
|
4
|
130
|
Pendings
|
4
|
1
|
???
|
0
|
0
|
5
|
Solds
|
28
|
10
|
0
|
0
|
1
|
65
|
Sold Volume
|
$7.16M
|
$739K
|
$0
|
$0
|
$150K
|
$8.05M
|
Sold Median Price
|
$176,500
|
$23,500
|
$0
|
$0
|
$150K
|
|
Avg. Days on Market (solds)
|
183
|
83
|
0
|
0
|
152
|
|
SOUTH BEACH (Westport/Grayland/Ocosta) MARKET:
2010 Year-End
|
Homes
|
Land
|
Condos
|
Multi-Family
|
Commercial
|
Total
|
Current Listings
|
81
|
111
|
17
|
2
|
10
|
221
|
Pendings
|
2
|
1
|
8
|
0
|
0
|
12
|
Solds
|
47
|
15
|
22
|
0
|
3
|
87
|
Sold Volume
|
$6.27M
|
$694K
|
$2.93M
|
$0
|
$283,500
|
$10.18M
|
Sold Median Price
|
$118K
|
$49K
|
$126K
|
$0
|
$120K
|
|
Avg. Days on Market (solds)
|
310
|
200
|
185
|
0
|
170
|
|
VS.
2009 Year-End
|
Homes
|
Land
|
Condos
|
Multi-Family
|
Commercial
|
Total
|
Current Listings
|
82
|
90
|
34
|
2
|
13
|
221
|
Pendings
|
3
|
1
|
13
|
0
|
0
|
17
|
Solds
|
40
|
18
|
17
|
1
|
4
|
80
|
Sold Volume
|
$6M
|
$1.15M
|
$3.29M
|
$170K
|
$1.05M
|
$11.66M
|
Sold Median Price
|
$108,500
|
$65K
|
$168K
|
$170K
|
$227,500
|
|
Avg. Days on Market (solds)
|
141
|
182
|
84
|
5
|
345
|
|
LONG BEACH PENINSULA (Ilwaco to Surfside Estates) MARKET:
2010 Year-End
|
Homes
|
Land
|
Condos
|
Multi-Family
|
Commercial
|
Total
|
Current Listings
|
254
|
266
|
24
|
2
|
24
|
570
|
Pendings
|
11
|
6
|
1
|
0
|
0
|
18
|
Solds
|
163
|
60
|
20
|
4
|
1
|
248
|
Sold Volume
|
$26.4M
|
$2.46M
|
$2.79M
|
$759,500
|
$690K
|
$33.28M
|
Sold Median Price
|
$145K
|
$34K
|
$120,950
|
$192,500
|
$690K
|
|
Avg. Days on Market (solds)
|
215
|
252
|
613
|
36
|
43
|
|
VS.
2009 Year-End
|
Homes
|
Land
|
Condos
|
Multi-Family
|
Commercial
|
Total
|
Current Listings
|
214
|
248
|
42
|
1
|
19
|
524
|
Pendings
|
15
|
5
|
3
|
1
|
1
|
25
|
Solds
|
168
|
64
|
14
|
2
|
5
|
253
|
Sold Volume
|
$30.2M
|
$3.37M
|
$2.1M
|
$660K
|
$820K
|
$37.15M
|
Sold Median Price
|
$159,500
|
$40K
|
$141,500
|
$330K
|
$135K
|
|
Avg. Days on Market (solds)
|
174
|
204
|
142
|
296
|
459
|
|
NOTE: All of the above data was pulled from the NWMLS and is not guaranteed.
FINANCING NEWS
POSITIVE NEWS-ZERO DOWN w/ USDA LOANS
Funding for USDA Rural Development Loan is once again available. This extraordinary government insured financing program makes home ownership possible for many low to moderate income families with no down payment required. Qualified borrowers in selected areas can take advantage of the USDA Rural Development Loan program to get a fixed rate mortgage with ZERO down.
The many benefits of this program include:
- Finance up to 100% of the value of the Home
- No down payment required
- Seller can pay up to 100% of the closing costs
- No private mortgage insurance required
- Can be used in conjunction with Mortgage Credit Certificates, where available
- Can be used with rate buy down programs
To qualify, borrowers must meet all applicable program and lender requirements and the home must meet eligible property requirements (must be your primary home). It is important to note that the guarantee fee has increased from 2.0% to 3.5% on purchase loans and from 0.5% to 2.25 % on refinances. Regardless of the fee increase, this program is still one of the best ones out there for qualified buyers. Ocean Shores/North Beach area is applicable for these loans.
FHA NEWS
Loan limits for both conforming Federal Housing Administration (FHA) loans will not change for 2011. For Grays Harbor County, the limit is $271,050.
For more help on getting pre-approved/qualified, contact our local lender, The Bank of the Pacific. You can call Carol Warfield, the Vice President Residential Loan Officer, at 360-580-0187 (cell) or e-mail her at cwarfield@thebankofpacific.com. Interest rates are still very low.
Once again, if you ever have any questions about Ocean Shores, the North Beach, the surrounding Grays Harbor cities, and/or real estate, please do not hesitate to call or e-mail me.
~ April Swenson
Your Beach Destination Awaits You at the #1 Washington Coast Town!
