Last I wrote I was waiting for the January foreclosure numbers from the County Records. Well, they came in…a lot higher than our December numbers. Kitsap County saw 110 foreclosure notices issued to homeowners; Bainbridge Island received 8 of those foreclosure notices.
There is good news for Bainbridge. Our great schools, desirable lifestyle and proximity to Seattle continue to attract buyers from Seattle, the Eastside and beyond. Movement to Bainbridge has slowed as the general market has slowed because buyers are having trouble selling their homes. But homes are selling and buyers are taking this opportunity to own a home on Bainbridge that was previously out of their reach.
I have heard from a few agents, and seen the stats to prove it, that Bainbridge prices are now more attractive than comparable properties in West Seattle; something that couldn't be said in recent years. The price adjustments weren't pleasant, but it may be to our benefit to be a bit more affordable that other Puget Sound neighborhoods. Spring should tell us more...
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Now year is about to end and the results for three quarters of real estate market is with us. This year it is mixed business from real estate market as sales and prices keep on fluctuating. Sometime low and sometimes high, but the important thing here is that overall this year was good and better then last year.
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