CENTURY 21 is Giving Away Twenty One $8,000 Cash Prizes

And you could be a winner! The Connect 2 the 1 Campaign runs from April 1, 2010 through June 30, 2010, and it allows you to enter your name in a drawing to win one $8,000 prize. One winning name will be drawn each month for 3 months in each of the 7 zones of the country designated by CENTURY 21: Desert West, Pacific West, Midwest, Northeast, Mid-Atlantic, Southeast and South Central. (Kansas, Missouri, New Jersey, Oklahoma and Rhode Island are not able to participate due to State Regulations). Drawings will be held on or about the 20th of May, June and July and winners will be notified by mail, e-mail or phone.

So, how do you enter? You can enter by 3 simple ways: 1) List your home for sale by your CENTURY 21 Professional during the campaign period. 2) Ask your CENTURY 21 Professional for an entry form, fill it out and give it back to them to send in for you. 3) Write your name, complete address including zip code, phone number, e-mail address and age (must be 21 to enter contest) on a 3x5 piece of paper and mail it to: "$8,000 List Your Home Sweepstakes", c/o ePrize, LLC, PO Box 5046, Kalamazoo, MI, 49003-5046. Only one entry per person during the campaign and non-winners for the month will be added to the drawing the next month.

No purchase is necessary to enter; complete rules and regulations can be obtained from your local CENTURY 21 Professional or on line at CENTURY21.com on the Connect 2 the 1 icon starting April 1st.

So double up those chances ... be sure to have your Purchase and Sale Offer written and accepted by April 30, 2010, and close by June 30, 2010, to receive your tax credit from Uncle Sam; then be sure to enter our CENTURY 21 Connect 2 the 1 Campaign for a chance at more money! Talk to your CENTURY 21 Professional today.

The Signs are Pointing up, Up, UP!

If you're a Buyer / Investor waiting for the bottom to arrive, you may have missed it! If you're a Seller waiting for the market to improve, all the signs are pointing to a recovery in the Pacific Northwest. According to CNBC.com, a new report shows that five U.S. states are poised to lead the nation out of a recession ... and guess who's on that short list! Right! Washington along with Colorado, Idaho, Oregon and Texas. The reason that Moody's Economy.com expects us to lead the way is because of the "high concentration of high-tech companies" in our area.

And, nationwide we're continuing to have encouraging housing news showing that Existing Home Sales were up 2.4% for May to a 4.77 million annual rate. Yea! Three months in a row that we've seen an increase and the median price for an existing home also rose to $173,000. (Which, of course, is much lower than our area.) New home sales trends showed an increase and inventories are slowly coming down.

The Feds continue to hold interest rates down a while longer to hold inflation in check; so the good news is, it's really, really time to buy. And, in order to take advantage of the First Time Home Buyer credit, you must close on a home before November 1st. Time to off the fence now and get into the game!

The Numbers are Showing Good News for the Market

The Northwest Multiple Listing Service released their latest numbers and it looks like great news for the area. The reported pending sales for April was up 11.4% compared to 12 months ago and rose 21.3% over March. Brokers reported 5,372 pending sales for King, Snohomish, Pierce and Kitsap Counties which is the first time the number cracked the 5,000 level since August of 2007.

So, what do the numbers mean? Basically it looks like the inventory is shrinking ... good news ... and Buyers are finally getting off the fence because of the $8,000 First Time Buyer incentive from the Government, extremely low interest rates and bottom line prices on homes. So, if you are a Buyer waiting for the "bottom" ... the time is now to dive into the pool before the water in the pool gets shallower.

And, do you qualify for the first time Home Buyer Credit? IF you have not owned a primary residence or purchased a primary residence within the last 3 years and IF your net adjusted income is $75,000 or less ($150,000 for a couple), you may be eligible. Check with your Lenders now and it's always a good idea to check with your tax expert, too.

Average prices for a single family residence in King County is now $417,500 and in Snohomish County at $316,271 according to the NWMLS. And, the FHA insured loan limits are now at $719,000 so there's plenty of inventory for a 3.5% down payment through an FHA loan. The Feds may be taking a look at this number shortly, so get your oar in the water now.

ARE WE THERE YET?

This real estate market reminds me of those road trips we took as a family when the children were young ... always impatient and asking, "Are we there yet?" That's the question on all agents' and clients' minds ... have we hit the bottom of the market and when do we start up again?

And the best answer is ... maybe. After every downturn there is an upturn and we're more than ready for that. According to the most recent numbers, the median sales price increased nationwide in March for the second month in a row, the biggest monthly jump since June 2005. The months' supply edged up to 9.8 from 9.7 but the raw inventory actually declined for all types of homes. The Federal Housing Finance Agency also reported that home prices rose 0.7% in February, the second month in a row that prices rose putting them up 1.7% for the last two months. Again, the biggest gain since 2005. And, March New Home Sales came in at 356,000 annual rate, a small decline from February but better than expected. And, according to the same source, inventory levels continue falling, down to 46.0% from their mid-2006 peak and at the lowest level since 2002.

So, what do the numbers mean? It shows, in my opinion, that we're "bouncing along the bottom" of this housing market and I believe we're looking toward a slow recovery starting this summer. Short Sales and REO sales are now dominating the market but there are still real "Sellers" out there that need to move and have some equity positions so they can sell without having to negotiate with the bank.

As for Buyers who've been waiting for the best deals ... they are out there NOW. My serious suggestion is to get off the fence and get in the game. Interest rates may never be lower and housing prices are unbelievable. Gentlemen and Ladies ... start your engines!

Keep This in Mind for Your 2009 Taxes

Green Tax Credits for Homeowners. That's right! There is now a $1,500 lifetime tax credit when you improve your home with energy saving improvements such as insulated windows, doors, mechanical systems and insulation. Plus you can also take a 30% tax credit for every dollar you spend on green upgrades like solar heaters, heat pumps and fuel cells.

The credits will apply through 2010 and are a great help to Homeowners who are wanting to sell and make their home more attractive to potential Buyers.

Any of our agents are willing and able to help Home Sellers make affordable and viable choices on home remodeling that will return them dollars on their sale. Call us today if you'd like a free opinion.