Janet Burchfield, Front Street Realty
Live the Island Dream...
Janet Burchfield, Broker/Owner :: Phone: 360-678-6100 :: Cell: 206-387-1924 :: Email: frontstreetjb@aol.com
Whidbey Island Real Estate - Is Now The Time To Buy?
Posted on January 30, 2010
Great homes, lots of them, at very, very good prices.
Interest rates that are compelling.
A location that many creative and fascinating people dream of one day living.
Bank-owned bargains peppering the mix.
So, to buy now or wait?
For those who have counted down the years to retirement, and now are in a position to live their dream of Island life on Whidbey, the fall in local real estate prices for the choice mid- and upper-end homes they seek has helped to soften the hit many investment portfolios have take over the past few years.
Savvy and still-youthful seniors have made my work a joy. Knowing good value when they see it, and delighted that the bubble that spiked prices upward in '05 & '06 burst along with the national housing trends, retiring singles and couples are picking up view homes, small hobby farms, custom built estates and choice parcels of view property at at least 25% markdowns. Some have snapped up places for even less than that, but all seem to be very happy with their new homes.
Economists have long noted that those who wait for the bottom of the market rarely achieve their goal, as they typically can't react quickly enough, especially in imperfect markets, where their are so many variables, like real estate. Naturally, no one wants to make an imprudent investment, but unlike shares of coffee or steel companies, homes offer use and enjoyment. I've been thankful that my clients have a longer term perspective, and while wanting to make their best buy, don't want to wait to enjoy Whidbey's beaches, trails, community life and small town pleasures.
So, come visit and take a look around. Give me a call and I'm always happy to educate you about our different communities, amazingly varied landscapes and why I am happy every day that I live on this spectacular Island.
Maybe you'll even become a friend and neighbor!
Interest rates that are compelling.
A location that many creative and fascinating people dream of one day living.
Bank-owned bargains peppering the mix.
So, to buy now or wait?
For those who have counted down the years to retirement, and now are in a position to live their dream of Island life on Whidbey, the fall in local real estate prices for the choice mid- and upper-end homes they seek has helped to soften the hit many investment portfolios have take over the past few years.
Savvy and still-youthful seniors have made my work a joy. Knowing good value when they see it, and delighted that the bubble that spiked prices upward in '05 & '06 burst along with the national housing trends, retiring singles and couples are picking up view homes, small hobby farms, custom built estates and choice parcels of view property at at least 25% markdowns. Some have snapped up places for even less than that, but all seem to be very happy with their new homes.
Economists have long noted that those who wait for the bottom of the market rarely achieve their goal, as they typically can't react quickly enough, especially in imperfect markets, where their are so many variables, like real estate. Naturally, no one wants to make an imprudent investment, but unlike shares of coffee or steel companies, homes offer use and enjoyment. I've been thankful that my clients have a longer term perspective, and while wanting to make their best buy, don't want to wait to enjoy Whidbey's beaches, trails, community life and small town pleasures.
So, come visit and take a look around. Give me a call and I'm always happy to educate you about our different communities, amazingly varied landscapes and why I am happy every day that I live on this spectacular Island.
Maybe you'll even become a friend and neighbor!
Post a Comment : Author: Janet Burchfield
Coupeville Sunrise to delight you!
Posted on January 16, 2010
Whidbey Island sunrises can be as inspiring and dramatic as the sunsets. Seen here from Pheasant Farm Acres community, looking East to the Cascades over Camano Island, the morning sky is glorious.
Photographed by a wonderful homeowner whose waterfront home sold in just two months, despite all the havoc in the real estate market, this view promises peace and reassurance in the beauty of creation. The new owner, an avid sailor and outdoorsman, was drawn to this scenery and will certainly be first to know when the day looks auspicious to head out for a sail.
Thanks to my great clients for starting off 2010 with such a lovely transaction. Everyone was trusting, appreciative, kind and generous with one another. Who says the market is beastly when there are homes and people like this to work with!
Owning a home on Whidbey Island is a dream come true for many people, and with great interest rates, very good buys in long supply, many folks are choosing to start living Island life now.
Surely the newly extended and expanded homebuyer's credit helps a bit... the new $6500 credit for move-up or relocating buyers who have owned their home for the previous 5 years is a factor for some...but I think it is more about price and quality of homes on the market now.
This weekend has been superb, if a bit chilly. Can hardly wait for the Alasdair Fraser/Natalie Hass concert at Ft. Casey's quaint auditorium tomorrow. Amazing that we can host a Scottish fiddle workshop with a duo that has performed world-wide as well as at Benaroya Hall in Seattle.
Hope to see you soon on Front Street!
Janet
Post a Comment : Author: Janet Burchfield
Happy New Year from Whidbey Island!
Posted on December 31, 2009
Mt. Baker as seen from Rhodena Beach, Coupeville
Wishing everyone a joyful, serene, and caring 2010! We've been through quite a lot in the past year, as a people, but I know many, like me, are counting their blessings.
It was fun to end the year with putting a sale in escrow today for wonderful clients. The buyer knew their home was his dream place the moment he walked through their door. Other nice folks relocating here to Whidbey were able to get the thumbs up on a fantastic beach place.
I love my work, and it feels great to help others reach their goals. Celebrating the last day of 2009 is easy, with sincere thanks and appreciation for everyone I've had the pleasure to work with over the past year.
2010 is starting to feel like it will be a great year for Island real estate. Motivated Sellers have tried hard to price their properties to sell quickly, and Buyers are amazed by the quantity and quality of available properties. Prices haven't been this low on Whidbey for years, and their are some absolute steals to be had for those folks staying alert to the market. 2009 saw some sad stories, homes going back to the bank that might have sold if priced more in tune with the market, and other foreclosures as people lost the struggle to keep mortgages paid. The much-touted Hope for Homeowners helped a few people hang on, and lower interest rates enticed some to refinance.
It seemed that this past year reconfirmed my long-held belief that deep and current market knowledge is one of the ways I can best serve my clients. Two of the sales I made this year were written before the listing agents had gotten around to adding more than one photo on the multiple listing site. Both were waterfront, and both were absolutely priced to sell immediately. I was able to send off photos to my clients, and get the properties in contract before competing buyers figured out how great they were.
Another of my beliefs about doing business is that it is important to be nice to people. A listing agent let me know that it was one of the reasons my buyer was chosen out of competing offers on a short sale. Going into a new year, it is good to reflect on ways I can better serve my clients, and also on the things that are working well. I'd love to hear from anyone who has suggestions or comments, always.
Tonight I'm heading to a party at the nearly-ready-to-open refurbished Ebey Bowl, which should be fun. I loved having the opportunity to help some of my very favorite clients buy a fantastic commercial property, in dire need of tlc, on the edge of the beautiful Prairie in Coupeville. The community is so excited at the prospect of the little 6 lane bowling alley reopening, especially our youth.
Again, thanks for a great year, everyone! Drop by my office near the Wharf and say hello....I might even treat you to a latte out at Local Grown on the Wharf.
Wishing you the best year, with each day lived like it's the one you'll always be remembered for!
Janet
Post a Comment : Author: Janet Burchfield
September
Posted on September 13, 2009
This week's Plein Air Painters' Open is one of the reasons that I love Whidbey Island so much. For the past 5 days, talented Landscape Artists who work from nature, outdoors, graced our Island with their easels and canvasses, working at responding to and interpreting our gorgeous scenery and historic structures.
Fruit is heavy on the boughs of apple, pear and plum trees, and it seems nearly daily someone is offering me fruit. Cider pressing can't be too far away, and the bit of nippiness in the air has started to color the leaves a bit. Dahlias and sunflowers are in full showy bloom, and I can't resist bestowing bouquets on friends daily.
Patient real estate buyers have been snapping up well-priced properties, with more sales pending at once than I've seen for a while. The $8000 tax credit for 1st time homebuyers (or those who have not owned a home for 3 years) has picked up the sales of modestly priced homes. I've seen people from Canada, Sonoma, Palo Alto, Santa Cruz, San Francisco, New York, Wyoming, Texas, as well as Northwest residents looking for homes here on the Island. Some want an idyllic spot to raise a family, others are seeking the perfect place to spend their retirement years.
Sellers often feel that we have a "selling season" that coincides with the tourist and boating season here, and so remove their homes from the market for a "rest" if they weren't sold. With so much inventory off-market but still available, buyers are very appreciative of knowing of homes that might perfectly meet their needs and dream, but are no longer showing up on the internet. Most area brokers feel that this fall is going to see very strong sales activity, and I agree. We are likely to see more bank-owned properties hit the market, more "deals".
Folks in a position to buy at present can make some very attractive purchases.
Still, most people buy on Whidbey for our lifestyle. Whether in a $200,000 cottage or a $2,000,000 estate home, our glorious Island landscapes, villages, wildlife, forests, gardens and views of mountains, water, coastlines and prairies delight. Whenever I board a ferry or drive across Deception Pass bridge to come home, I experience the same sense of being lucky to live someplace that offers close community, incredible beauty, clean air, sunsets and moonrises and seemingly endless beaches.
So far, looks like plenty of others hope to feel that good fortune soon, too.
Post a Comment : Author: Janet Burchfield
August Days On Whidbey Island
Posted on August 11, 2009
I love August!
Is it because the roadside flower stands are graced with enormous bouquets of colorful dahlias, lilies & sunflowers? Because blackberries are ripe along the side of the road, and kind folks drop by offerings of perfect rosy plums or blueberries from their yards? Because gardens are so abundant that people share more generously with others this time of year? Because the outdoor pools are open, luring me for an after work dip?
Is it because the roadside flower stands are graced with enormous bouquets of colorful dahlias, lilies & sunflowers? Because blackberries are ripe along the side of the road, and kind folks drop by offerings of perfect rosy plums or blueberries from their yards? Because gardens are so abundant that people share more generously with others this time of year? Because the outdoor pools are open, luring me for an after work dip?
I think it is all these things.
For my fellow Front Street business owners, August means lots of visitors, lots of purchases, lots of energy and laughter on the street.
Lately I've noticed so many people really looking at the whale skeleton that hangs from the ceiling at the Wharf, reading information about our area's marine life, asking questions of the friendly BeachWatchers volunteers.
Children explore the beach, amazed by the appearance of a seal, a heron or an eagle combing the beach for a low tide meal. Kayakers glide by. Sailboats anchor in the Cove, skiffs run about looking for the perfect spot to set out crab pots, a Dad and daughters show off their little bucket of fish just caught.
Even today's coolness and brief rainshower feels good. A little rain waters those dahlias I so love.
Yes, yes, I know, a bit about real estate is in order, so I must say that offers and closings have been encouraging, Island-wide. My agent friends are energetic, working long hours showing properties, writing offers, meeting new clients, keeping in touch with folks. My experience has been that savvy buyers feel now is a pretty good time to buy. Interest rates are still low, even if they did creep up a bit. Inventory of homes is at a near-glut level, with so many options at prices anywhere from 15% to 20% off peak prices, and very motivated or bank-owned properties are going for what can only be described as "screaming deals".
Examples?
How about 2 homes, each assessed for over $1,200,000, selling for less than half that amount? Or a brand new home on 10 acres selling for a short sale at $320,000? Yet, when these have been plucked up by those ready to act quickly, there are still very solid buys to be had. Large custom-built high quality homes with all the sought after details: gourmet kitchen, main floor master with fabulous bath, enough acreage for privacy, craftsman details, beauty inside and out, these can be had for just under $500K. 3 bedroom, 2 bath family homes in communities with private beach access, pool and clubhouse for under $300K. View-to-forever high bank waterfront homes under $700. Estate and waterfront luxury homes that once would have fetched much more priced for the times.
I love showing properties, and seeing what our Island has to offer.
I'm always amazed by the homes that get people really excited. Just the other day a lovely couple from Bellingham were thrilled to discover a cute and quirky A-Frame by Greenbank. The nicest folks from Wyoming couldn't belief that they could be a quick walk to a beautiful beach for $329K in a newer home, or enjoying Westside sunsets in Sierra for $389K or less.
Post a Comment : Author: Janet Burchfield
Island Dream Tour 8/1/09
Posted on August 3, 2009
The 2009 Island Dream Tour was a wonderful success, with lots of appreciative home fanciers touring a special selection of homes ranging in price from the $500,000 range up to nearly $3,000,000.
The brainchild of my dear frend Linda Casale, the Dream Tour opens some of the Island's finest homes to those fortunate enough to attend. This year there was much buzz among attendees about the state of the economy, and the housing market, naturally, but I detected much optimism about investing in exceptional Island properties.
Prices are certainly down from a couple years ago, and the inventory of homes is at its peak. Retirement and second home buyers, especially, were delighted to see the array of lovely grounds, fabulous floorplans, gourmet kitchens, exquisite craftsmanship.
The party at the end of the tour, at a gorgeous Sunlight Beach home rewarded all of us for a long day of touring: Peter Casale, chef extraordinaire, put on a feast of marinated mussels, salad of local greens, kabobs, melon, gourmet pizza, chilled wine and much more.
A raffle to benefit Hearts & Hammers (a local non-profit that helps area residents, especially senior citizens, out with home repairs and maintenance they might not otherwise be able to afford) added to the great day.
Kudos to all involved!
Prices are certainly down from a couple years ago, and the inventory of homes is at its peak. Retirement and second home buyers, especially, were delighted to see the array of lovely grounds, fabulous floorplans, gourmet kitchens, exquisite craftsmanship.
The party at the end of the tour, at a gorgeous Sunlight Beach home rewarded all of us for a long day of touring: Peter Casale, chef extraordinaire, put on a feast of marinated mussels, salad of local greens, kabobs, melon, gourmet pizza, chilled wine and much more.
A raffle to benefit Hearts & Hammers (a local non-profit that helps area residents, especially senior citizens, out with home repairs and maintenance they might not otherwise be able to afford) added to the great day.
Kudos to all involved!
Post a Comment : Author: Janet Burchfield
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