Market News & Updates

The Skinny on Maple Valley Homes for Sale | A Seller’s Market?

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The Skinny on Maple Valley Homes for Sale | A Seller’s Market?

The skinny on available homes for sale in Maple Valley (and outlying areas served by the Tahoma School District) is just that….skinny! Currently there are only 75 single family homes actively listed for sale through NWMLS. Eliminate new construction (which often includes  pre-sale inventory ) and you’re down to 54. Far greater than slim-pickins…this is flat out SKINNY pickins! Going back 12 months,  Inventory peaked in August (not unusual as this typically is a slower time of year for sales) however it’s obvious March is the lowest point over this time period. Let’s go back even more…. Again, highest peak was August but more than 3x the inventory we have available today. So what’s a buyer hoping to land the elusive Maple Valley home for sale? Here are some tips: Be prepared to move quickly. And I mean QUICKLY! It’s helpful to work with a Buyer’s Agent who specializes only in working with buyers. (Like our wonderful team member Patty!) An experienced Buyer’s agent has systems in place to notify you as soon as properties become available. Forget trying to “get a deal”. Those days are done. Today’s “great deal” is being the winner in a multiple offer situation. Put

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2013 Market Out of the Gates And….

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2013 Market Out of the Gates And….

With two full months of closed sales behind us, here’s what the data is telling us about Single Family Home sales within the Tahoma School District for 2013 compared to the same time period (Jan/Feb) of 2102. Overall, the number of closed sales is about the same: 83 in 2012 and 81 this year With a slightly higher average sales price and an uptick in the median price: 2012 Avg Sales Price, $260,000 vs. 2013 $283,000 and a rise in median price  from $257,235 last year to $273,490,  one can surmise prices are rising….not surprising given low inventory. What will be interesting is to see whether the price uptick will continue when Spring Inventory increases. A pleasant swing in the number of Foreclosed sales vs closed Short sales is hopefully indicative of more distressed home owners reaching out for alternatives and more brokers becoming proficient with the process. In the first two months of 2012 there were 25 Bank Owned Sales closed and 12 Short Sales. This year, those numbers are almost reversed: 23 closed Short Sales and 10 closed Bank Owned. Turning the corner into the Spring Market, here are the questions: What will interest rates do? How will

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Maple Valley | Homes on Acreage-What’s Available?

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Maple Valley | Homes on Acreage-What’s Available?

February 7, 2013,-Maple Valley, WA Available Acreage Properties located within the 98038 Zip code range in price from just over $212,000 to nearly $1.3 Million. 19 sales are pending close of Escrow and a total of 41 Single Family homes on one or more acre have sold within the last 6 months. Closed sales totaled 41, with the highest sales price being $874,999 and the lowest just over $167,000. The winter months are a great time to be viewing acreage, when the land looks it’s worst (well, except for those Blackberry bushes) and drainage/water table issues can more easily be recognized. When you’re ready to start your search for a home with a little more “range” beneath it….you can start here.

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Maple Valley New Construction Sales | 2012 Market Report

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Maple Valley New Construction Sales | 2012 Market Report

Median values of newly constructed, Single Family homes within the Tahoma School District boundaries remained relatively stable in a year over year comparison to closed sales in 2011. For 2012, the median price of New Homes was $289,995 compared to $284,900 for 2011….nothing too exciting there. But the glimmer of hope signs of a stabilizing/recovering market lie in both the 29% increase in sales, along with a 600% increase in the number of sales priced between $350,000 and $399,999. Confidence One word embraced by builder, lender, consumer and appraiser alike. If the local industry seems bullish on the sub-$400 market, the thaw has not even begun in the higher price points. In 2011, there was one New home closed between $400-$450 and this past year, that number doubled to a whopping 2. Given the lack of build-able spec lots within the Maple Valley City boundaries, don’t expect higher priced inventory to return any time soon. That market may be a thing of the past….big HUGE house on very SMALL lot. But there’s always resale!    

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What’s Ahead for the Maple Valley Real Estate Market?

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What’s Ahead for the Maple Valley Real Estate Market?

While the numbers may show 2012 to have been “the bottom” of the market and the beginning of a housing recovery, if I had to sum up the year in one word it would be… “Difficult”. Short sales? Nope. I’m talking financing. Who would have thought getting short sale approval could be easier than the next step…getting the buyer’s loan approved? Or, as this year has testified, having approved buyers elbow their way into the top slot after a multiple offer negotiation, only to find they have miles of hoops to jump through before crossing the finish line? Welcome to my world. (as it was last year anyway, I am an optimist after all) The best explanation I’ve seen to date about this has been this article in Forbes magazine.  But that was then (as in 4 days ago) and this is now. So what’s ahead for the Maple Valley Real Estate Market in 2013? Keeping in my real estate is local (and in our case, hyper-local), I offer my prognostications as viewed through my still cloudy crystal ball: 1. Inventory will remain low. Many owners will be encouraged by news headlines of recovery and will decide to stay put

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Maple Valley Distressed Home Market Report | Foreclosure & Short Sales 2012

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Maple Valley Distressed Home Market Report | Foreclosure & Short Sales 2012

While the year is not quite finished, (2 more recording days at the County), I think we have a decent representative sample of closed sales here in the Tahoma School district to make a call regarding distressed home sales activity. Year to date (this post being written on December 27), there have been 106 single family Bank or Asset Company owned sales closed. This represents a 41% increase in Bank owned homes over the same time period in 2010. Short sales (properties where the owner controls the sale and marketing but the bank must approve the “less than owed” price) numbered 121 this year, compared to 61 in the same time period of 2010….just a chin hair shy of a 100% increase in two years. The jump in short sale closings is a good sign in my opinion. It is indicative of sellers looking for alternatives to foreclosure, agents  and buyers getting more savvy to the negotiation process and banks recognizing the need for organized, streamlined processes. However given the drop in prices from our peak in 2006, the steep equity loss will continue to drive the distressed market here and throughout South King County…most likely for several years to

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Maple Valley Washington Best Places to Raise Kids 2013

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Maple Valley Washington Best Places to Raise Kids 2013

Maple Valley, WA,  Bloomberg Business Week just announced it’s “Top 50 Small Towns” in  which to raise kids; one town for every state of the Union and Maple Valley is the tops for Washington State!  ” For those interested in small-town living, Bloomberg Businessweek and Bloomberg Rankings evaluated more than 3,200 places nationwide with populations from 5,000 to 50,000. We looked at such metrics as public school performance, safety, housing costs, commute time, poverty, adults’ educational attainment, share of households with children, and diversity.” Following on the heals of having been named to Family Circle Magazine’s “Top 10 Communities” list, this is yet another boon to this close-knit community. Top Schools, low crime and relative affordability when compared with other communities within a reasonable commute of major employers; Boeing, Microsoft, Amazon, Google are among many of the attributes which make Maple Valley so desirable to families relocating to the area. I do have one bone to pick with Bloomberg’s article….which is that the photo they used is not demonstrative of the history, nature and beauty of this Pacific Northwest community. There are SO many more lovely sights to see in Maple Valley other than a row of backyard fences. Those

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Cherokee Bay Sold Homes Report

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Cherokee Bay Sold Homes Report

Homes Sales in Cherokee Bay over the past 120 days, like much of the Maple Valley real estate market, were skinny in number. This is primarily due to 2 factors. General lack of inventory and the lengthy escrow time required of Short Sales. There were 10 single family homes sold and closed within the last 4 months in Cherokee Bay. The highest priced listing sold was $222, 800 and the lowest priced sale was $135,000. Of interesting note, is the average days on market…just 19. Here are the sales with more detail: Search for your new home in Maple Valley here or find out what your Cherokee Bay property, or Maple Valley home is worth online, FREE, here.  

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All information is current as of published date. Listings for sale or rent, are avaialable as of the date published, however price and availability are subject to change.