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Market Report for 6/01/2011 - 6/30\/2011

HUD, Bank owned and short sales continue to be a major factor in the housing market. In this 13 county report, the sold report shows that bank owned properties account for 27% of sales as compared to 14% last year. Short sales account for 9% of sold sales. Total percentage of bank owned and short sales is 36%. Interest rates continue unchanged. Today the rates have gone up somewhat. Remember, each 1% rise in interest reduces your purchasing power by approximately 10%. The active to pending ratio in Mason County is over 13-1, with 986 active residential properties to 77 pending sales. Better than last month. A good ratio is 5-1. Pricing in the market continues to slide and may not correct until the inventory of bank owned and short sale homes is reduced, and this is going to take a while.

The interest rate makes a big difference in your Purchasing Power. For example, as interest rates change, with a monthly payment of $1200, you can purchase as follows:

4.52%	$236,788.91(7/25/11)
5.00%	$223,537.94
6.00%	$200,149.94
7.00%	$180,369.08
8.00%	$163,540.19
9.00%	$149,138.24
10.00%	$136,740.98
11.00%	$126,007.62
12.00%	$116,661.10

 Counties (Grays Harbor, Island, Jefferson, King, Kitsap, Lewis, Mason, Pierce, San Juan, Skagit, Snohomish, Thurston, Whatcom) in western WA

Residential sales: 2 % decrease	2011	4578
Bank owned: 27 %		1219
Short Sales:  9 %		400
(2010 Bank own 14% 658)	2010	4657
	2009	4170
	2008	4114
	2007	6628
	2006	8247

Market Report for each county: 6/01/2011 - 6/31/2011

For Mason County

Total for all categories	2011	80
	2010	74
	2009	68
	2008	72
	2007	162
	2006	215
Residential Sales    13% increase	2011	63
Bank Owned sales        41% of sales		26
Short Sales     3% of sales		2
	2010	56
	2009	48
	2008	51
	2007	97
	2006	117
Vacant land sales     1% decrease	2011	17
	2010	18
	2009	19
	2008	20
	2007	62
	2006	93
Maufactured Homes in parks	2011	0
	2010	0
	2009	1
	2008	1
	2007	1
Multi-Family	2011	0
	2010	0
	2009	0
	2008	0
	2007	1
Business Opportunities & Commercial	2011	0
	2010	0
	2009	0
	2008	1
	2007	0

*Information collected from the NWMLS system.  Rules do not allow brokers to send out information in a broadcast form.  If you want actual information on property please send a request to John and the information will be sent to you. 

For a "Quick and Easy" search program for properties in Mason County --  Go here.