View of the Ocean on Christmas Day 2010
I want to wish you and your family a very Merry Christmas. May we remember the simple things of life and the reason for the season. May God richly bless your lives.
View of the Ocean on Christmas Day 2010
I want to wish you and your family a very Merry Christmas. May we remember the simple things of life and the reason for the season. May God richly bless your lives.
OCEAN SHORES NEWS
Ocean Shores Street LID
As of November 9, 2010
November 9, 2010 ~ As I reported in my last update dated October 27th on the Street LID, the final assessment amounts were approved by the City Council. In the past week and a half, property owners, including myself, have been receiving their notices from the City with the assessment amounts due. I have personally received many calls and e-mails off my web site story on the Street LID from both current clients and other property owners, and there has been a lot of confusion about this poorly worded letter without any contact info. So let me help explain:
The City posted a FAQ sheet about the Street LID on November 1st. Click here to view.
In summary, the 10% discount period is good only until November 29th and the City does not know the interest rate, but estimates about 6.25-6.75%. The City does not know the interest rate because the bonds have not been secured yet and cannot be secured until the City knows how much is to be financed. So hence why there is an early discount payoff period; the City wants to finance the least amount as possible.
As part of my commentary on the handling by the City Council, the Mayor Garland French and Ken Lanfear, Public Works Director, of this entire process for the Street LID, here some more points I am adding:
My previous protests I made known were the following:
My hope is that we can learn from the mistakes made in this project and not repeat them.
With all of these events that have transpired, how do you feel about the job completed by the City officials? Do you believe they did their due diligence or do you believe they should be brought to task?
If you want to make your questions, comments and/or protests known, please contact the following responsible parties:
I would greatly appreciate if all property owners reading this story would please e-mail me at aswenson25@juno.com and answer the following survey:
1) Did you receive your Final Notice Confirming the Street LID Assessment Role dated October 22nd?
2) Did you receive the letter announcing that there will be a LID Hearing on September 20th?
3) If you made a written protest to the Hearing Examiner by Sept 20th, did you receive a letter dated October 7th about the Findings/Recommendations being filed and having the right to file an appeal?
4) Did you receive any other written correspondence from the City in the past 3 years regarding this Street LID? If so, what were they and dated when?
OCEAN SHORES NEWS
Ocean Shores Street LID
As of October 27, 2010
October 27, 2010 ~ The City Council passed a resolution regarding the Findings & Conclusions to the Street LID on October 21st. Very few changes were made to the original assessment role dated August 1, 2010 (produced by Macaulay & Associates, Everett, WA). You can see the 5-page resolution passed by the City Council at http://oceanshores.fileprosite.com/Documents/DocumentDisplay.aspx?ID=17006. The document named some changes to assessments to 9 property owners who protested their assessments. The City Council also stated that the RCW says that the City can use any method or combination of methods to compute assessments. So yes, the State law does say that, but it does not give the City Council a right to disregard the 900+ protests that clearly stated over and over again, including by me, the incorrect valuation determined by Macaulay & Associates and the inequitable distribution of the LID assessment amounts. But they did anyway, and the bills will be sent out this week to all property owners.
As written in the North Coast News on October 22nd, Art Blauvelt, the City Attorney, stated the following:
This is what will happen if there are no hitches in the publication process:
* Wednesday, October 27 ~ Notice & Ordinance 885 are published (will also be published November 3, 2010);
* The 30-day pre-payment window starts with publication of the Notice, so the 30-day window will start Thursday, October 28th and end on Monday, November 29th.
Every lot owner will be receiving a notice that contains all the payment details. The city will mail the notice to the address of the lot owner as shown on the county treasurer's records. Those notices will be in the mail by next week.
Many lot owners, as part of their protest or recent correspondence, have provided an alternate address to the city, the City will do its best to send another copy of the notice to the alternate address it has been given by the lot owner, HOWEVER, lot owners should make sure their address with the Grays Harbor County Treasurer is accurate. All of the statutes that control this process require the city to use the "address shown on the tax rolls of the county treasurer" for each lot. The City's plan to mail copies to alternate addresses is a courtesy extended to those who, as part of their protests notified the city, in writing, of an alternate address.
From David Thompson, bond counsel:
First installment payment would be due on November 29, 2011.
In summary, the Street LID upfront payment discount period will be October 28-November 29, 2010. The first payments for those who will be on the annual payment plan will be November 29, 2011. All payments are made in arrears, ie the payment due on Nov 29, 2011 is actually for Nov 29, 2010 until Nov 29, 2011.
October 25, 2010 ~ The City made the Hearing Examiner Wayne Tanaka's findings/recommendations to the City Council available online as I reported on October 5th. After reviewing the recommendations/decisions, I received a letter from the City of Ocean Shores in response to the written, and verbal, protest I made on Sept 20th/21st. All property owners who made protests received this letter. It stated that Mr. Tanaka's written Findings, Conclusions & Recommendations Report was filed with the City and was available to be viewed online at www.osgov.com. The letter also stated that I could file an appeal in writing (along with $250) to the City Council. The issue that I have is that the letter was dated and postmarked on October 7th and the City expected us to file the appeal by 5pm on October 15th. I personally did not receive my letter until the 12th. So you can imagine how many people received this letter after the 15th. One would think that the City Council would learn from just a few weeks ago with the September 20th/21st Hearing when many people protested on the lack of time provided to file their initial written protest, which was only 2 weeks. But apparently the City Council did not learn or take heed to the people's expressed concerns/protests, and they gave property owners even less time.
As a side note, I have heard of many property owners who never received the letter(s) from the City, so please make sure your mailing address is correct with the Grays Harbor County Assessor's office by calling 360-249-4121.
October 2010 Edition
Ocean Shores/North Beach
E-Newsletter
Presented by April Swenson,
Realtor & Managing Broker for Coldwell Banker Ocean Beach Properties
www.OceanShoresInfo.com
NOTABLE NEWS/EVENTS
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
FLAG DAY PARADE 2010
The annual Flag Day Parade occurred on June 12th along the streets of downtown Ocean Shores with the newly paved streets, the new sidewalks, lighting and round-about. See more info and pictures at www.OceanShoresInfo.com/pics/flagdayparade2010.html
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
DAY of RECORD HEAT
August 14th saw temperatures in Ocean Shores reach over 90 degrees. See more info and pictures at www.OceanShoresInfo.com/pics/hotaugustday2010.html
CRAFT & CAR SHOW 2010
The annual Craft Fair was held at the Convention Center. Nearby was a display of Mustangs. See more info and pictures at www.OceanShoresInfo.com/pics/craft&carshow2010.html
STREET LID INFO
On October 5th, Hearing Examiner Wayne Tanaka submitted his finding/recommendations in regards to the protests to the upcoming Street LID. On September 20th, the City held an LID Hearing at the Convention Center. An incredible 1000+ people were attendance. Why such a large turnout? About 2 weeks prior, property owners received a letter from the City of Ocean Shores explaining what the proposed Street LID (assessment) amount was for their individual property. See the whole story at www.OceanShoresInfo.com/news/streetLID.html
OTHER NOTABLE LOCAL NEWS
UPCOMING EVENTS
October 16th-17th ~ CFA All-Breed Cat Show: learn about a wide range of cats and vote on the "Best of Show."
October 22nd-24th ~ Celtic Music Festival: 7th annual festival featuring over 20 bands playing Irish music.
November 5th-7th ~ Jazz Music Festival: featuring 9 jazz bands.
November 26th-28th ~ Winter Fanta-Sea Craft Show: over 70 arts & crafts booths at the Convention Center just in time for Christmas.
BUYS IN OCEAN SHORES
Click on the following links to view flyers for some good deals for Ocean Shores properties:
MARKET ACTIVITY/UPDATE
2010 3rd-Quarter (July 1st thru September 30th)
The number of properties sold in Ocean Shores is slightly UP from a year ago (101 properties compared to 97 properties).
OCEAN SHORES MARKET:
Click on the following links to view the MLS flyers for sold properties (3rd Quarter--July 1st-September 30th):
Sold Homes
Sold Lots
Sold Condos
Sold Commercial
2010 3rd Quarter | Homes | Land | Condos | Multi-Family | Commercial | Total |
Current Listings | 236 | 492 | 149 | 6 | 19 | 902 |
Pendings | 26 | 15 | 1 | 0 | 1 | 43 |
Solds | 42 | 51 | 7 | 0 | 1 | 101 |
Sold Volume | $7.66M | $1.48M | $749,150 | $0 | $27K | $9.85M |
Sold Median Price | $156,200 | $23,500 | $53,900 | $0 | $27K | |
Average Days on Market (solds) | 175 | 287 | 275 | 0 | 212 |
VS.
2009 3rd Quarter | Homes | Land | Condos | Multi-Family | Commercial | Total |
Current Listings | 209 | 541 | 108 | ??? | ??? | 858+ |
Pendings | 32 | 9 | 6 | 1 | 0 | 48 |
Solds | 47 | 42 | 7 | 1 | 0 | 97 |
Sold Volume | $5.56M | $771,350 | $384,900 | $0 | $0 | $6.71M |
Sold Median Price | $150K | $31K | $70K | $0 | $0 | |
Average Days on Market (solds) | 159 | 119 | 21 | 0 | 0 |
NORTH BEACH (Ocean City to Moclips) MARKET:
Click on the following links to view the MLS flyers for sold properties (3rd Quarter--July 1st thru September 30th):
Sold Homes
Sold Land
Sold Condos
2010 3rd Quarter | Homes | Land | Condos | Multi-Family | Commercial | Total |
Current Listings | 72 | 121 | 4 | 4 | 6 | 207 |
Pendings | 11 | 5 | 0 | 1 | 0 | 17 |
Solds | 2 | 1 | 1 | 0 | 0 | 4 |
Sold Volume | $880K | $12K | $7K | $0 | $0 | $899K |
Sold Median Price | $440K | $12K | $7K | $0 | $0 | |
Average Days on Market (solds) | 314 | 2418 | 738 | 0 | 0 |
VS.
2009 3rd Quarter | Homes | Land | Condos | Multi-Family | Commercial | Total |
Solds | 6 | 1 | 0 | 0 | 2 | 9 |
Sold Volume | $1.1M | $27K | $0 | $0 | $475K | $1.6M |
Sold Median Price | $138,750 | $27K | $0 | $0 | $237,500 | |
Average Days on Market (solds) | 259 | 26 | 0 | 0 | 457 |
MARKET ACTIVITY/UPDATE
2010 Year-to-Date (January 1st thru September 30th)
The number of properties sold in Ocean Shores is UP from a year ago (277 properties compared to 242 properties).
OCEAN SHORES MARKET:
2010 YTD (1/1/10-9/30/10) | Homes | Land | Condos | Multi-Family | Commercial | Total |
Solds | 133 | 125 | 16 | 1 | 2 | 277 |
Sold Volume | $22.95M | $3.7M | $1.8M | $149,500 | $252K | $28.85M |
Sold Median Price | $150K | $19K | $79,500 | $149,500 | $126K | |
Average Days on Market (solds) | 206 | 304 | 357 | 667 | 134 |
VS.
2009 YTD (1/1/09-9/30/09) | Homes | Land | Condos | Multi-Family | Commercial | Total |
Solds | 126 | 101 | 14 | 1 | 0 | 242 |
Sold Volume | $21.75M | $3.68M | $2.17M | $0 | $0 | $27.6M |
Sold Median Price | $166K | $24,625 | $93K | $0 | $0 | |
Average Days on Market (solds) | 151 | 180 | 272 | 0 | 0 |
NORTH BEACH (Ocean City to Moclips) MARKET:
2010 YTD (1/1/10-9/30/10) | Homes | Land | Condos | Multi-Family | Commercial | Total |
Solds | 18 | 3 | 2 | 0 | 0 | 23 |
Sold Volume | $3.67M | $54K | $256K | $0 | $0 | $3.98M |
Sold Median Price | $162,500 | $12K | $128K | $0 | $0 | |
Average Days on Market (solds) | 181 | 847 | 524 | 0 | 0 |
VS.
2009 YTD (1/1/09-9/30/09) | Homes | Land | Condos | Multi-Family | Commercial | Total |
Solds | 19 | 8 | 0 | 0 | 1 | 28 |
Sold Volume | $4.05M | $214K | $0 | $0 | $150K | $4.4M |
Sold Median Price | $156,375 | $16K | $0 | $0 | $150K | |
Average Days on Market (solds) | 193 | 53 | 0 | 0 | 152 |
NOTE: All of the above data was pulled from the NWMLS and is not guaranteed.
FINANCING NEWS
POSITIVE NEWS
According to the Federal Reserve, households gained $6.3 trillion in net worth in the first quarter from a year ago, and homeowners have regained $1.1 trillion in home equity over the same period.
Funding for USDA Rural Development loans is once again available. The guarantee fee has increased to 3.5% for purchase loans. The guarantee fee for refinance loans has increased to 2.25% on October 1st. Ocean Shores/North Beach area is applicable for these loans.
Another positive factor that has remained relatively consistent is the historically low mortgage interest rates. The low rates, combined with a drop in home prices to what we hope is at or near the lowest point they will go, really can make it an ideal time to buy. This is especially true for buyers who just a few years ago might not have seen home ownership as an affordable option. For example, as economist Karl Case (of Standard & Poor's Case-Shiller housing index) pointed out in the September 1st issue of the New York Times:
Four years ago, the monthly payment on a $300,000 house with a 20% down payment and mortgage rate of about 6.6% was $1,533. Today that $300,000 house would sell for $213,000 (29% drop in price) and a 30-year fixed-rate mortgage with 20% down would carry a rate of about 4.2% and monthly payment of $833. In addition, the down payment would be $42,600 instead of $60,000.
FANNIE MAE NEWS
Fannie Mae has announced several changes to its underwriting standards effective June 1st. While most of the changes represent a tightening up of lending guidelines, others may benefit some borrowers:
FHA NEWS
In an effort to raise critical funds to boost its eroding capital, Congress voted in the FHA Reform Act. The following changes are effective October 4th:
OTHER NOTABLE LAW CHANGES
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.
Your Beach Destination Awaits You at the #1 Washington Coast Town!
April 2010 Edition
Ocean Shores/North Beach
E-Newsletter
Presented by April Swenson,
Realtor & Associate Broker for Coldwell Banker Ocean Beach Properties
http://www.oceanshoresinfo.com/
NOTABLE NEWS/EVENTS
RAZOR CLAM FESTIVAL
The 4th Annual Razor Clam Festival was held on March 26th and 27th. There were over 4,000 in attendance at the Convention Center and was the most successful out these past four years. But many more came for that weekend's clam dig. See more info at http://www.oceanshores.org/clams.html
ROAD CONSTRUCTION
The re-paving of all of our streets and the construction of the traffic circle is done! There will be a Street LID coming up sometime later this year. The town looks great with the new sidewalks in downtown Ocean Shores, and not to mention the smoother drives around town.
EMS LEVY INFO
On April 27th, local residents will vote on imposing an additional $.35 EMS Levy to help cover the City's budget shortfall. This proposal is an attempt by the City Council and our new Mayor, Garland French, after the citizens voted down the last proposed EMS Levy in November. The proposal will increase the EMS Levy to $2.09/$1,000 assessed value. Garland French, a long-time City Council member, was voted in by the City Council to be the new mayor when Mayor Dean Bunkers retired earlier this year for health reasons.
OTHER NOTABLE LOCAL NEWS
UPCOMING EVENTS
April 16th-18th ~ Photo & Fine Arts Show: show & competition for prizes.
June 5th-6th ~ Kite Challenge on the Beach: competitions, stunts, displays and more.
June 12th ~ Flag Day Parade: annual parade is held in downtown Ocean Shores and a dance is held at the Convention Center in the evening.
June 25th-27th ~ FiveStar Sand & Sawdust Festival: master woodcarvers, sandcastle competitions, and much more.
BUYS IN OCEAN SHORES
Click on the following links to view fliers for some good deals for Ocean Shores properties:
Homes $150K or Less
MARKET ACTIVITY/UPDATE
2010 1st-Quarter (January 1st thru March 31st)
The number of properties sold in Ocean Shores is UP from a year ago (70 properties compared to 55 properties). This is good news for activity in general.
OCEAN SHORES MARKET:
Click on the following links to view the MLS fliers for sold properties (1st Quarter--Jan 1st thru Mar 31st):
Sold Homes
Sold Lots
Sold Condos
Sold Mutli-Family
2010 1st Quarter | Homes | Land | Condos | Multi-Family | Commercial | Total |
Current Listings | 216 | 501 | 92 | 3 | 16 | 825 |
Pendings | 33 | 9 | 2 | 0 | 1 | 45 |
Solds | 29 | 35 | 5 | 1 | 0 | 70 |
Sold Volume | $4.766M | $891,925 | $550,250 | $149,500 | $0 | $6.35M |
Sold Median Price | $150K | $17K | $62K | $149,500 | $0 | |
Average Days on Market (solds) | 123 | 181 | 149 | 210 | 0 |
VS.
2009 1st Quarter | Homes | Land | Condos | Multi-Family | Commercial | Total |
Current Listings | 210 | 538 | 65 | ??? | ??? | 813+ |
Pendings | 32 | 9 | 6 | 0 | 4 | 51 |
Solds | 31 | 20 | 4 | 0 | 0 | 55 |
Sold Volume | $5.56M | $771,350 | $384,900 | $0 | $0 | $6.71M |
Sold Median Price | $150K | $31K | $70K | $0 | $0 | |
Average Days on Market (solds) | 159 | 119 | 21 | 0 | 0 |
NORTH BEACH (Ocean City to Moclips) MARKET:
Click on the following links to view the MLS fliers for sold properties (1st Quarter--Jan 1st thru Mar 31st):
Sold Homes
Sold Condos
2010 1st Quarter | Homes | Land | Condos | Multi-Family | Commercial | Total |
Current Listings | 30 | 101 | 4 | 2 | 6 | 175 |
Pendings | 5 | 0 | 0 | 0 | 0 | 5 |
Solds | 4 | 0 | 1 | 0 | 0 | 5 |
Sold Volume | $812K | $0 | $249K | $0 | $0 | $1.06M |
Sold Median Price | $88,500 | $0 | $249K | $0 | $0 | |
Average Days on Market (solds) | 217 | 0 | 310 | 0 | 0 |
VS.
2009 1st Quarter | Homes | Land | Condos | Multi-Family | Commercial | Total |
Solds | 5 | 2 | 0 | 0 | 0 | 7 |
Sold Volume | $1.63M | $0 | $0 | $0 | $0 | $1.68M |
Sold Median Price | $88,500 | $0 | $0 | $0 | $0 | |
Average Days on Market (solds) | 224 | 193 | 0 | 0 | 0 |
NOTE: All of the above data was pulled from the NWMLS and is not guaranteed.
FINANCING NEWS
FHA NEWS
Effective February 1st, the FHA has lifted the 90-day resale restriction (the "flipping rule") that made FHA insurance unavailable if the contract of sale for the purchase of the property was executed within 90-days of the prior acquisition by the seller. There is some fine print, but this change opens up FHA financing to bank REOs and foreclosures that need fixing up before resale.
Other news of note:
Why are they doing this? With nearly 40% of all new home loan originations in 2009 done through FHA, the agency is under fire to reduce risk.
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.
Your Beach Destination Awaits You at the #1 Washington Coast Town!
Ocean Shores/North Beach Newsletter
"2009 in Review"
Presented by April Swenson,
Realtor & Associate Broker for Coldwell Banker Ocean Beach Properties
www.OceanShoresInfo.com
HAPPY NEW YEAR!!!
I thought I would start out this e-mail with a good laugh. This is what Jeff Foxworthy has to say about living in Washington:
1) If you've worn shorts, sandals and a parka at the same time, you live in Washington.
2) If you know several people who have hit a deer more than once, you live in Washington.
3) If you install security lights on your house and garage but leave both doors unlocked, you live in Washington.
4) If you can drive 75 mph through 2 feet of snow during a raging blizzard without flinching, you live in Central, Southern or Eastern Washington.
5) If you design your kid's Halloween costume to fit over a 2 layers of clothes or under a raincoat, you live in Washington.
6) If driving is better in the winter because the potholes are filled with snow and ice, you live in Washington.
7) If you know all 4 seasons: almost winter, winter, still winter, and road construction, you live in Washington.
8) If you know more than 10 ways to order coffee, you live in Washington.
9) If you know more people who own boats than air conditioners, you live in Washington.
10) If you stand on a deserted corner in the rain waiting for the "Walk" signal, you live in Washington.
11) If you consider that if it has no snow or has not recently erupted, it is not a real mountain, you live in Washington.
12) If you can taste the difference between Starbucks, Seattle's Best, and Dutch Bros, you live in Washington.
13) If you have actually used your mountain bike on a mountain, you live in Washington.
14) If you think people who use umbrellas are either wimps or tourists, you live in Washington.
15) If you buy new sunglasses every year, because you can't find the old ones after such a long time, you live in Washington.
16) If you actually understand these jokes and forward them to all your Washington friends, you live or have lived in Washington.
2009 NOTABLE NEWS/EVENTS
MERRY CHRISTMAS 2009
Christmas Day was a beautifully sunny and clear day. Click on the following link to view the pictures: www.oceanshoresinfo.com/pics/christmas2009.html
WINTER STORM 2009
November was hit with the first true Winter storm and it was a spectacular site to watch the stormy waves hit the Jetty. Click on the following link to view pictures: www.oceanshoresinfo.com/pics/jettystorm2009.html
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 personal favorite yearly events with the sandcastle competitions held in June. 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 was held in June. Click on the following link to view pictures: www.oceanshoresinfo.com/pics/flagdayparade2009.html
THE BOARDWALK SHOPS of OCEAN SHORES GRAND OPENING
These cute beach-looking condo retail shops opened in April with 4 shops already bought/leased, and another on the way. These shops are located next to the Coldwell Banker/Caffe Amici building. Still a couple left for purchase or lease! Click on the following link to view pictures and more info: www.oceanshoresinfo.com/commercial/boardwalkshops.html
WINDSURFING at DAMON POINT
There was a great site of many windsurfers at Damon Point State Park/Protection Island in January 2009. Click on the following link to view pictures: www.oceanshoresinfo.com/pics/windsurfers.html
ROAD CONSTRUCTION 2009
This year brought massive road construction, especially in the downtown area. There were many road closures and detours due to the repaving of the streets and the installation of a traffic circle at the intersection of Chance a La Mer and Pt Brown Ave. It is almost complete. They are finishing the concrete curbs and sidewalks and will do plantings in the springtime.
NEW FIRE STATION OPENS 2009
The downtown fire station moved in November/December from their older, smaller building on JK Lewis St to the brand new, over $4.6M fire station on Pt Brown Ave next to the Police Station. It is very impressive.
BUDGET SHORTFALL 2009
In November, Ocean Shores citizens, including myself, voted on the proposed EMS Levy. It was defeated by approximately 69% to 31%. With this defeat, the City found themselves with a shortfall of approximately $1.3M for 2010. So the Mayor and the City Council have had to find ways to balance the budget through layoffs, closing the Library and Interpretive Center, and they are looking into imposing an EMS Tax. The Library is staying open through March for limited hours. Fund-raising is occurring to keep both places open, which is great to see the citizens unite for a common goal.
Many cities and counties, such as ours, are facing budget issues and I do believe there must be stronger and deeper analyses of the City's budget. There are many tough questions to be answered and even tougher decisions to be made. We must move forward with the right business principles and implement them.
The City has moved forward with improvements, such as the much-needed repaving of all of our roads and a nicer, more pedestrian-friendly downtown area. Some more good news is that we are seeing greater numbers of tourists flock here than in 2008. We offer so many attractions, ie the accessible beaches, lakes, canals, parks, a clubhouse, hotels, restaurants, arcades, etc. Not to mention affordable real estate with water, sewer and power available to all properties. This truly is a great place to live!!!! I do!
OTHER NOTABLE LOCAL NEWS
UPCOMING EVENTS
MARKET UPDATE
Welcome to a new year. My colleagues and I have been extremely busy in real estate. The buyers are out there. It has been surprising to us that this much activity has been occurring in December and January. So I am excited about this new year. Inventories are down, but prices are still low. Click on the links to see some Great Buys.
Homes Under $150K
2009 MARKET ACTIVITY
January 1, 2009 to December 31, 2009
OCEAN SHORES MARKET:
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 | 26 | 4 | 7 | 349 |
Sold Volume | $30.5M | $4.56M | $3.55M | $668K | $2.41M | $41.7M |
Sold Median Price | $158,500 | $23K | $100,500 | $163,500 | $169K |
NORTH BEACH (Ocean City to Moclips) MARKET:
Homes | Land | Multi-Family | Commercial | Total | |
Current Listings | 42 | 83 | 1 | 4 | 130 |
Pendings | 4 | 1 | 0 | 0 | 5 |
Solds | 28 | 10 | 0 | 1 | 39 |
Sold Volume | $7.16M | $739K | $0 | $150K | $8.04M |
Sold Median Price | $176,500 | $23,500 | $0 | $150K |
SOUTH BEACH (Westport/Grayland/Ocosta) MARKET:
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 |
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 |
In conclusion, Ocean Shores/North Beaches provide the greatest selection and lowest prices, plus the most bang for your buck.
FINANCING NEWS
MOVE-UP HOME-BUYER CREDIT
The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).
You can read more information at http://www.federalhousingtaxcredit.com/faq2.php#1.
NEW RESPA RULES NOW IN EFFECT
The new year brought significant RESPA changes affecting the Good Faith Estimate (GFE) and the HUD-1 settlement statement. These changes are intended to help home buyers fully understand the costs of loan origination and other settlement services, and protect them from big surprises when it comes time to close.
The new three-page GFE has been designed to help buyers compare costs between different lenders and brokers. It also lays out which charges can change before settlement and which charges must remain the same.
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.
Your Beach Destination Awaits You at the #1 Washington Coast Town!
April Swenson
Associate Broker & Realtor, Coldwell Banker Ocean Shores
888-469-3100 office 360-289-3111 fax 360-589-2777 cell
aswenson25@juno.com
www.OceanShoresInfo.com