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Real Estate Market Watch ~ GOOD NEWS !
Back in February, I noted that 19 homes in Newcastle had gone pending. Sales in many areas in King county have been picking up over the last several months, but real estate agents have been watching to see how many of these sales are closing due to the large activity with short-sales and foreclosures. Another problem for home buyers, and sellers, has been the issue of low appraisals. There are several ways to resolve the issue of a low appraisal. 1. The seller may agree to lower the sales price. 2. The buyer and seller may also agree to split the difference. 3. Sometimes the buyer may even offer to pay the difference in cash of the appraised value and the agreed upon sales price. This often can present a problem for lenders though who are not comfortable that they may not have the equity they need in case of default. About two-thirds of these low appraisals result in the termination of the offer. So with these issues at hand in today’s market, I have been watching the actual number of closings vs. pending sales. Of the 19 homes that went pending in February, 10 of them have sold, 8 are still pending and only one has returned to active on the market. This is good news, although it does seem that many of these sales are taking a bit longer to close than usual.
In March, we are reporting 7 homes sold in Newcastle, with an average sales price of $815,157. Here’s the Really Good News…..
24 Homes have gone pending in Newcastle so far in April !
This is a huge upswing so check back and I will keep you posted of the progress on these homes. If you have real estate questions or would like further information on these home sales, call me at 206.947.3694 or email me at susan@mcmcondos.com
Yum! When you’re looking for a place to have lunch in the area, don’t forget about 
The Wilted Spinach Salad, Smoked Salmon and Corn Chowder, and the ever-popular Calcutta Burger with Smoked Gouda and Peppered Bacon. Check out the 
The bad news….. the 10 day forecast is looking very familiar for this time of year. The good news….. I am going to show you all kinds of things you can do in our area that are not dependent on great weather. It’ll come soon enough and thanks to many great new and old things to do in our area, it’s still a great place to live… even in the Spring. 
Located on the third level, a state-of-the-art 16-screen theatre is a featured addition to the Westfield Southcenter entertainment experience. The theatre features:
