Valerie's Belfair WA Real Estate Blog: LakeLand Village Homes for Sale and Sold ~May Real Estate Market Update~

May has shown an increase in pending sales and a reduction in the inventory of homes for sale in LakeLand Village! 

 Buyers - get your foot in the door before it becomes a sellers' market in LakeLand Village.

Let's check out the facts of what's going on.....

There are currently 29 homes for sale in LakeLand Village (this is a much better picture than what last year painted for us). This is a "positive" movement for sellers and buyers beware, as this could be a turning point as far as prices go in LakeLand Village and LakeLand's homes for sale inventory! 

Looking at the pending sales, there has been quite a bit of activity during the month of May with buyers making offers. They realize this market is a GREAT time to take the plunge into home ownership in LakeLand Village or "move up" in the market.

It is also a great chance to take advantage of the 1st time Home Buyers Tax Credit available as well as some awesome interest rates on home loans.

There are 8 (up from 4 last month)  homes in LakeLand Village in Allyn that have pending sales. Here is the breakdown on the pendings:

• One (1) is Pending Back up Offers Requested- An accepted offer is in place, but the seller would like to accept back up offers as well
• Two (2) are Pending Inspection - An accepted offers is in place and they buyer is going through their "due diligence" of obtaining a home inspection.
• Five (5) are pending; They have accepted offers, have satisfied their home inspection and are proceeding through the closing process.
• One  (1) of the 8 pendings is a bank owned property and three are short sales. 

 The average selling price and dollars per square foot are  lower than normal due to a few of the homes being in a short sale status (the sellers owes more on the home than it is being sold for) or a bank owned home (foreclosed or repo).

Overall Pending Sale Average Dollars per sq ft : $129.82 (keep in mind this number is low due to a bank owned property pending and the 3 short sales; The other pendings average per square foot is $142.68. A considerable increase as well as a considerable increase in buyers making offers.

Only one home closed (sold) in the month of May in LakeLand Village but we have seen sales taking longer than 30 days to close due to lender underwriting slow down, so June should show a very strong month for closed/sold properties. The average $ per square foot for the one home was $167.54.

The active homes for sale inventory in LakeLand Village is at a median price range of $367,475. This is higher due to the LOWER priced homes being sold or in pending status.The average dollar per square foot for active homes for sale in LakeLand Village is $152.29.

For those of you who do not know about LakeLand Village, check this LakeLand Link out - there are some great opportunities for home ownership and it is a community that offers many amenities within itself as does the surrounding area of Southern Puget Sound and Hood Canal.

Previous Month's Market Reports for Homes for Sale and Sold in LakeLand Village, Allyn, WA:

• April 2009
• March 2009
• February 2009
• January 2009
• 2008 LakeLand Village Market Report

None of us has the magic crystal ball as to EXACTLY when a market will change, so remember this:

A Buyers' Market is the time to buy... Now is the better time to get the most home for your dollar in LakeLand Village as well as other areas. Or if you are thinking about "moving up" in a home, this is the better time as well.

Whether you are buying or selling a home, don't put your goals off without talking to a local real estate expert regarding your goals. Each situation is also unique individually.

  ~~Valerie~~

 If you would like more information on buying or selling real estate in LakeLand Village, Allyn & Belfair, I am here to help you!  Just give me a call, drop me a line or stop on in!  I also have short sale experience as well as and foreclosures (bank owned). I believe in building relationships for life. YOUR SUCCESS IS MY SUCCESS!

~~Valerie~~ Lakeland Village, Belfair & Allyn Real Esate Specialist~~

Windermere Peninsula Properties

my email: vlsallyn@windermere.com

my website: www.valspaulding.mywindermere.com