Ocean Shores/North Beach E-Newsletter
Presented by April Swenson, Realtor & Associate Broker
for Coldwell Banker Ocean Beach Properties
Welcome to Summer!
This town has been buzzing with summer activities with the many different events, as well as property sales. This week is calling for sunny skies.
INDEPENDENCE DAY 2009
The weekend was packed and the beaches lined with cars and people letting off fireworks, including myself. Click on the following link to view pictures: www.oceanshoresinfo.com/pics/july4th2009.html
SAND & SAWDUST FESTIVAL 2009
This is one my personally favorite yearly events with the sandcastle competitions. Click on the following link to view pictures: www.oceanshoresinfo.com/pics/sand&sawdustfestival2009.html
FLAG DAY PARADE 2009
One of the largest Flag Day parades in Western Washington. Click on the following link to view pictures: www.oceanshoresinfo.com/pics/flagdayparade2009.html
THE BOARDWALK SHOPS of OCEAN SHORES ARE NOW OPEN
These cute beach-looking condo retail shops are now open with 4 shops already bought/leased. These shops are located next to the Coldwell Banker/Caffe Amici building. Great Deals for Purchase or Lease. Click on the following link to view pictures and more info: www.oceanshoresinfo.com/commercial/boardwalkshops.html
MARKET UPDATE
Summer is seeing an increase in sales from the 1st quarter of 2009. The deals are out there. Click on the links to see some Great Buys.
Homes Under $150K
Homes $150K to $200K
Homes over $200K
Waterfront Homes
Lots Under $20K
Lots $20K to $35K
Waterfront Lots
As of June 30th, there are 25 homes, 9 lots, and 5 condos pending (in escrow waiting to close; but more is pending in the month of July); and 227 homes, 546 lots, and 79 condos listed for sale. Compared to 276 homes, 658 lots, and 74 condos listed on June 30, 2008. A decrease in listings is a good sign for a more stabilized market.
Here are some Ocean Shores Stats for the 2nd Quarter 2009:
2009 2nd Quarter: 48 Homes closed; average sales price = $178,681; median sales price = $166K; average days on market = 268
Sold Homes (click on this link to view the MLS flyers)
2008 2nd Quarter: 55 Homes closed; average sales price = $195,508; median sales price = $162K; average days on market = 188
2009 2nd Quarter: 37 Lots closed; average sales price = $35,119; median sales price = $25K; average days on market = 269
Sold Lots (click on this link to view the MLS flyers)
2008 2nd Quarter: 64 Lots closed; average sales price = $44,771; median sales price = $34,950; average days on market = 277
2009 2nd Quarter: 3 Condos closed; average sales price = $170,290; median sales price = $103,870; average days on market = 273
Sold Condos (click on this link to view the MLS flyers)
2008 2nd Quarter: 6 Condos closed; average sales price = $241,833; median sales price = $201,500; average days on market = 327
1st Half of 2009 Ocean Shores Stats (from 1/1/09 to 6/30/09):
78 Homes closed; median sales price = $159,500; average days on market = 172
7 Condos closed; median sales price = $75K; average days on market = 104
59 Vacant Land closed; median sales price = $27K; average days on market = 156
Compared to 1/1/08 to 6/30/08:
93 Homes closed; median sales price = $175K; average days on market = 144
8 Condos closed; median sales price = $232,500; average days on market = 241
114 Vacant Land closed; median sales price = $35K; average days on market = 173
1st Half of 2009 North Beach Stats (Ocean City, Copalis Beach, Pacific Beach & Moclips) (from 1/1/09 to 6/30/09):
13 Homes closed; median sales price = $174K; average days on market = 127
7 Vacant Land closed; median sales price = $5,025; average days on market = 80
Compared to 1/1/08 to 6/30/08:
8 Homes closed; median sales price = $203,750; average days on market = 176
7 Vacant Land closed; median sales price = $80K; average days on market = 233
1st Half of 2009 South Beach Stats (Grayland, Westport & Ocosta) (from 1/1/09 to 6/30/09):
18 Homes closed; median sales price = $107,500; average days on market = 134
5 Condos closed; median sales price = $200K; average days on market = 140
4 Vacant Land closed; median sales price = $65K; average days on market = 165
Compared to 1/1/08 to 6/30/08:
24 Homes closed; median sales price = $162,150; average days on market = 97
2 Condos closed; median sales price = $545K; average days on market = 47
14 Vacant Land closed; median sales price = $57,500; average days on market = 189
In conclusion, the North Beach areas are still selling, although we are down like everywhere else. But the South Beach area has been hit the hardest. Mainly because Ocean Shores has a lot more to offer, so Ocean Shores is attracting more buyers.
COLDWELL BANKER is #1 in GRAYS HARBOR COUNTY
Another exciting item to mention is the success my office has had this year. We are #1 in closed transactions for number and volume for 2008 and for the 1st half of 2009. Coldwell Banker OBP has sold 30.62% of the market in Ocean Shores; compared to 20.19% by John L. Scott Ocean Shores, 14.91% by Windermere Ocean Shores, 8.43% by Premier Realty Ocean Shores, 3.66% by Prudential Ocean Shores, and 2.36% by Beach Realty. This stat is in terms of volume closed for sales in Ocean Shores (similar percentages in terms of the number of transactions closed).
UPCOMING EVENTS
Sun & Surf Run, July 24-26: hear the roar of the motorcycles come into town.
Arts & Craft Festival, September 11-13: thousands of handcrafted items by artists and craftspeople.
Paddle the Shores, September 19-20: paddle activities on the lakes and canals.
FINANCING NEWS ~ UNDERSTANDING CREDIT SCORING
Whether a person applies for a credit card or a mortgage, lenders want to know their risk. There are three major credit reporting agencies that keep track of consumer credit use and provide credit reports and scores. It is in a consumer's best interest to be aware of their credit standing.
- Credit scores are often called "FICO" scores (from 'Fair Isaac and Company').
- Credit (or FICO) scores are based on information held by the three credit reporting agencies.
- Most lenders use a variety of factors -- including FICO scores -- to make lending decisions. The credit score influences what credit is available as well as the terms (though not every lender evaluates risk the same way).
- FICO scores are calculated from a combination of credit data. Approximately 35% of the score is based on payment history, 30% on the amount owed, 15% on how long the person has been using the credit, 10% on applications for new credit, and 10% on types of credit used.
- If your client is trying to increase their credit score, they should pay active past due accounts to a current status and pay down outstanding revolving debt as close to zero as possible. If they are unable to pay off accounts completely, they should pay them below 30% of the credit limit and keep new applications for credit to a minimum.
For advice on improving credit, as well as for other great information on credit scoring, check out www.myfico.com/crediteducation/. Every consumer should know what's in their credit report and is entitled to a free copy each year at http://www.annualcreditreport.com/.
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 http://webmaila.juno.com/webmail/new/8?folder=Sent&msgNum=00009NW0:001APqhy0000384a&block=1&msgNature=all&msgStatus=all&count=1248381722&content=central#. Interest rates are still around 5.25-5.5%.
Once again, if you ever have any questions about Ocean Shores, the surrounding Grays Harbor cities, and/or real estate, please do not hesitate to call or e-mail me.
Your Beach Destination Awaits You at the #1 Washington Beach Town!
April Swenson
Coldwell Banker Ocean Shores, WA
888-469-3100 office 360-289-3111 fax 360-589-2777 cell
aswenson25@juno.com
http://www.oceanshoresinfo.com/
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