I have to say that this Listing is one that took exceptional effort, but after visiting the home to drop off keys to the new buyers, their palpable excitement and relief about being in their new home just left me with such a sense of fulfillment.

Now this was a transaction just overflowing with issues … big issues! Shortly after listing, there were difficulties with the weather, with leaks in the kitchen, with the estate auction (hmmmmmm, I’ll think twice, 3 times, about recommending that guy again), then with fielding call after call after call of low offers from agents informing me that the price was too high and that the place just wasn’t worth anything more than the land. And yet there were offers — eight of them. Most were close to the asking price. Others not so much. One was dreadfully low.

And then there were endless visits to the County and the City of Auburn trying to find appropriate records for permits, as-builts, well certifications, foundation requirements, and on and on. Meeting with contractors for bids and work to be done.

However, floating through all of this were these Buyers. They made three offers before the Seller felt secure that the offer was strong and solid enough to survive the remaining challenges of missing permits, foundation certification, title elimination, etc.

Finally, FINALLY, six weeks to the day after the contract scheduled closing date, it did. What a cause for celebration!

I remain grateful for my client, the Seller, who repeatedly listened to my advice and then took it. As with every client, we talked often. About how things were going, or not going, or just the general frustration of trying to get things done. At the end, about the frustration of the current lending climate where a Buyer’s approval could get challenged over the most mundane and ridiculous items. About the Department of Licensing who decided that they didn’t like the “appearance” of a notary’s stamp, and on and on.

The house sale closed! (whew)

The current owner is a mason and her skillful tile work is evident throughout the house and yard. You’ll need to finish up much of the home. As an example, the master bedroom remodel was started years ago, but circumstances didn’t allow completion. The home needs flooring, windows, furnace or wall heaters, kitchen cabinets & counters, trimwork, and more.

But when done, in addition to your lovely home, you’ll have a huge back patio perfect for entertaining, a circular driveway, lovely lush plantings, and the space to park all your toys. No homeowner association here!

Although I run statistics frequently, I hadn’t actually compared different parts of the region as far as distressed property sales. Curious, I went to our Northwest Multiple Listing Service to run some quick stats. No, it’s definitely not just my imagination: short sales and bank-owned properties are far more prevalent in my business areas of the south King County and Pierce County areas. 

So here are the facts as of this morning, May 18, 2010 of the residential properties that I work most frequently (single family, condominiums, and manufactured homes): 

In King County, there are currently 15349 unsold properties. (Some of these do have offers of one sort or another.) Of those unsold properties, 971 are noted as being Bank-Owned, while another 4207 are noted as requiring Short Sale or some other third-party approval before the sale can close. Okay, that computes to about 33.7% of unsold properties being either bank-owned or short sale nature. 

In Pierce County, there are currently 6755 unsold properties. Of those, 741 are bank owned and 2178 are short sales. That’s approximately 43.2%. 

Now, to get even more specific, I live and focus my business (although not exclusively) in Auburn, a smaller community that spans the King and Pierce County lines. In the Auburn area, there are 463 unsold listings, 68 bank-owned and 228 short sale properties. YIKES! That’s 63.9% of all listings in my area!

So here’s the point: If you plan to buy or sell a property in the south King County or Pierce County areas where properties are so affordable, be sure that you’re working with an experience Short Sale or Foreclosure Agent. 

1.      Shop Shop Shop (well, you know, it IS the key to happiness … err maybe that’s the money I’d save by …) … shopping at the SuperMall of the Great Northwest! Truly good buys here in a totally undercover outlet mall. Come visit!

SuperMall
1101 SuperMall Way, Suite 1268
Auburn, WA 98001
www.supermall.com

2.      Play the ponies at Emerald Downs! — I always walk away with a coupla bucks left in my pocket … but after a full day of entertainment with the whole family, awesome nachos at the taco bar, and a couple of margaritas, life is GOOD!

Emerald Downs
2300 Emerald Downs Drive
Auburn, WA 98001-1633
(253) 288-7000

3.     Have dinner at the Auburn Avenue Dinner Theater — and laugh hysterically if you visit on Comedy Night!!

Auburn Avenue Dinner Theater
10 Auburn Avenue
Auburn, WA 98001

4.    Chase a golf ball around at one of three fantastic courses:

Auburn Golf Course
29630 Green River Road SE
Auburn, WA 98092
253-931-3005
www.auburngolf.org

A full-service 18-hole facility, the fair, but challenging par 71 course is just over 6,450 yards and hosts over 50,000 rounds of golf each year. 

Jade Greens Golf Course & Driving Range
18330 SE Lake Holm Road
Auburn, WA 98092
253-931-8562
www.jadegreens.com

A 9-hole public course that is described as very player friendly, junior and senior rates are available Monday through Friday. There are additional sets of tees that can be used when playing an eighteen hole round.

Washington National Golf Club
14330 SE Husky Way
Auburn, WA 98092
253-931-8562
www.washingtonnationalgolfclub.com

Located on the scenic Auburn plateau, the par-72 course was co-designed by John Fought and Orrin Vincent. Already recognized as one of the Northwest’s golfing treasures, Washington National combines world-class golf with a campus-like atmosphere as the entire project features a University of Washington theme.

5.       Break out the inline skates .. or skateboards … at 

Brannon Skate Park
611 28th St. N.E.
Auburn, WA 98001

Opened in 1999, this 8,000-square foot, free-form skate park is designed for both skateboard and inline skate enthusiasts. It offers a long snake, three bowls, 3-foot pyramid and grinding rails. 

6.     Bring the earplugs and visit the drags, roadraces, or karting at Pacific Raceways! For us ‘old’ folks, this was always known as SIR — Seattle International Raceways! … I remember burning up the engine on my brand new Mazda R100 …. sigh.

Pacific Raceways
31001 144th Avenue Southeast
Kent, WA 98042-4601
(253) 639-5927
www.pacificraceways.com

Okay, well technically this has a “Kent” address, but for anyone that knows Auburn, this is located just at the end of the Highway 18, 304/312 exit in AUBURN!

7.      Go to a show at the White River Amphitheatre — the biggest names play here, and the setting is spectacular with an ‘in-your-face’ view of Mount Rainier

White River Amphitheatre
40601 Auburn-Enumclaw Road SE (Hwy. 164)
Auburn, WA 98092
206494-2134
www.whiteriverconcerts.com

8.      Take in a family-friendly show at the Heavier Than Air Theatre at Green River Community College. My kids loved this and it became one of our regular “what’s going on at the Theatre?” when looking for a fun weekend afternoon!

Heavier than Air Family Theatre Company
Performing Arts Building
Green River Community College
12401 SE 320th Street
Auburn, WA 98092

9.      Did you know that Auburn boasts one of the finest symphony orchestras in all the Pacific Northwest! ?? Comprised of over 60 professional musicians from the Seattle Pacific Northwest Ballet and other Northwest orchestras, this is not just a small-town orchestra. The Auburn Symphony is a professional, incredible! group of musicians that put together highly technical performances.

Auburn Symphony
Auburn Performing Arts Center
700 East Main Street
Auburn, WA 98002
http://auburnsymphony.org/

10.      Have an outdoor picnic at Flaming Geyser State Park. Yes, there really is a Flaming Geyser at Flaming Geyser State Park

Flaming Geyser State Park
23700 SE Flaming Geyser Rd
Auburn, WA 98092

Located on the Green River, the park is another of my favorite summer-fun places. As I look through their site, though, here’s what I didn’t know: There’s a full-blown remote control model airplane field there! Whoo hoo! Gotta check this out!  

Excellent location across from Lake Youngs Watershed! Beautifully landscaped with state of the art appointments throughout. Maple hardwoods, stainless Jenn-Aire appliances in island kitchen with granite and stainless countertops. Soaring ceilings over formal rooms, Two gas log fireplaces. Main floor den. Iron spindle staircase leads to four huge bedrooms including master suite with luxury bath. Expansive deck! Circular drive and plenty of room of future shop.

listing courtesy Dawn Rushton of rE/MAX Select RE

This unique Northwest home has so many things to offer!

The main living area with kitchen, dining room (centrally located by the kitchen and living room), and living room is open and spacious — perfect for family & friend gatherings. There are two bedrooms on the main level and one full bath. Upstairs is a fabulous master suite, while the lower level offers a large family room, 1/2 bath and huge bonus room. There is a two-car garage plus two-car carport, wonderful yard, and view like no other.

Call to see this home today!

Listing courtesy Geri Wehry of RE/MAX Select R.E.

There’s GREAT potential here. A little TLC and you’ll have a wonderful home. Vaulted ceilings in living room, skylight over the stairs. Downstairs rec-room, plus a 1/2 bath. Big lot on greenbelt, plus HUGE 4-car tandum garage!

listing included courtesy of Dawn Rushton, RE/MAX Select R.E.

Cute, clean & move in ready! Set on a quiet cul-de-sac, this spacious home backs to a greenbelt for peace & privacy. Covered porch, carport & partially fenced yard. Rooms are open & sunny with a big ‘eat-in’ kitchen. Carpet & plumbing are newer. All appliances stay including large freezer in utility room!

listing included courtesy of Dawn Rushton, RE/MAX Select R.E.

The first two months of sales data in the greater Auburn, Washington tell the story perfectly — Want or Need to Sell Your Home Fast? — Drop The Price! Or at least price it within the range of those houses that are actually selling:

Granted, this little chart only shows three months of home sale activity in the greater Auburn area, but it clearly reflects that homes sell faster when they are nearer the lower end of the pricing spectrum.

Here you can see that the average home listing price is above $300,000, but the average price for home sales that actually closed (i.e., made it all the way to the exchange of keys!) was in the low-mid $200,000 range. It’s further telling that homes in those upper dollar amounts for Auburn, stay on the market longer than those than ultimately are priced in the lower $200′s — 100+ days compared to 58 days and 82 days.

It’s important to remember that “Solds” are a result of homes that went Pending 30-60 days prior.

So ……

Compare the number of days for houses that went pending in December to those that closed in February. For houses that sold in December, one would need to compare the days on market for those that went pending in October or November.

And I’m thinking that the closed prices in March will be higher too! Look at the pending $$ for February! (Yeah, I know, I get excited about these things ……………..)