June 5, 2012
Thurston County property owners -
two stories for you in the news
1. "Thurston issues property valuations for 2013 taxes"
"Market analysis by appraisers within the Thurston County Assessor’s Office shows that the real estate market continued to decline during 2011, influencing the assessed values that will arrive in mailboxes this weekend or early next week. The new assessment notices will identify value assessments as of Jan. 1, 2012, for taxes to be billed in 2013.
During 2011, $301 million in new construction was added in Thurston County. Median values countywide for residential property types continued on a downward trend. Values dropped 10.45 percent percent from January 2011 to January 2012. In the previous year, assessed values declined 7.7 percent.
This is the fourth year in a row that residential property saw a decline in value. Commercial properties decreased for the third straight year," quoting the Business Examiner.
2. "Area home sales rise as prices remain flat"
"Thurston County’s housing market showed improvement for the third consecutive month and the South Sound real estate community is sensing a turnaround.
Home sales rose and median prices largely were flat in May, according to Northwest Multiple Listing Service data released Monday [June 4].
Home sales rose 2.75 percent to 262 units last month from 255 units in May 2011, while median prices fell 2.89 percent to $212,563 from $218,900, the combined single-family residence and condominium data show.
The median price results were somewhat disappointing to homeowners, because prices rose in March and April.
Median prices rose 2.75 percent in April and nearly 5 percent in March. Sales were flat in March and rose 16 percent in April, the data show," quoting Rolf Boone in The Olympian.
UPDATE: June 9, 2012
"Realtor Greg Moe of Windermere Olympia, who showed homes at Tahoma Terra in Yelm over the weekend – a 200-lot subdivision that is under construction – said prospective buyers are gaining more confidence about the market and a little more job security in this economy will only add to it. He’s also recently encountered some multiple offer situations in which competing offers can bump up the price of a house, something that hasn’t happened with great regularity since the boom. In those days, real estate agents were “order takers.”
'You put up a for sale sign and got multiple offers,' Moe said," by Rolf Boone on The Olympian.