In our recent blog post about Sequim Spring awakening, we mentioned that it's time to talk about Sequim Vacation and Sequim Real Estate Market again. With new spring life approaching, our Sequim blog gets more visitors again, mostly consisting of tourists searching for places to stay in Sequim and things to do on the Olympic Peninsula.
Won't you believe it, it's just 2 months to the 113th Sequim Irrigation Festival, which will be held May 3rd - 11th, 2008? We reported about our 2007 Sequim Irrigation Festival experience, which was great fun for everybody, spectators like us and lots of participants! But let's not get carried away. Your next Sequim vacation will be the topic of our next blog post.
Today it's time for talking business, Real Estate business in Sequim. Just kidding. Several blog visitors had asked us in the past whether we are realtors because we have several posts about Sequim Real Estate and even list two Sun Meadow homes for sale by owner FSBO on our blog. Well, reason is we try to help our friends. We are not realtors but we have the web at our fingers, with owning our own sites, like our Kohala Coast Vacation Guide and blogs, like the Sequim Town and our Best Hawaii Vacation Blog. It never hurts to have some extra exposure for a home for sale online.
When you have a close look at our Sequim town blog, you will notice that we display lots of information about Sequim, from vacation rentals & hotels, to moving & relocation resources and vacation highlights in Sequim. You won't find links to real estate companies, as there are too many to be listed and it would not be fair just to list a few and not the others.
Well, we decided to share a few thoughts about the current 2008 Sequim Real Estate market with our blog visitors. Not claiming to 100% correct or even complete with our thoughts. This is what we noticed:
Yes, Sequim has turned into a buyer's market just as so many other locations in states like CA, AZ or even HI.
Is it wise to buy now or is it better to wait even longer? Will prices for homes and land in Sequim still come more down? Well, this is a gamble, similar to the stock market. Who knows at what point the Sequim market will turn around and follow the uptrend again.
Right now it looks like developers and contractors got carried when times were good but I guess when you got once started it's not that easy to stop building. Reading the recent Olympic Peninsula Homes & Land I was more than surprised to count 23 new home developments in Sequim. 23 that is! This number does not even reflect how many building lots and sites are offered in those new home developments. Cedar Ridge alone offers 244 lots starting at $69,000 for cottage lots and asking $109,000 for estate lots. Well, considering those numbers, it looks like lot prices will have to come down.
It looks like to an outsider that not many homes get sold in Sequim these days. Our area next to Carrie Blake Park, which is much desired for retired people with walking distance to shopping and park, showed even over the winter months for sale signs and sold. Admitted, it took a much longer time to sell plus we don't know how much the seller came down in order to make the sale happen but most important it happened.
Sequim is developing and growing at a rate, residents don't know whether to welcome it or not. One thing is for certain, small town living with big town amenities + the amazing location of Sequim between mountain and ocean will keep attracting the retired folks. No question there that moving to Sequim and investing into land or house purchase seems like a good move. Make sure the price is right and you get what you wanted - sunny exposure, nice views and away from the highway! What do you think?
p.s.
Stay tuned for our next post for reasons to plan a Sequim Vacation. Don't miss our webcams - wonderful Sequim area scenery.
Sequim Real Estate Articles
Sequim Real Estate - Homes for Sale Analysis April 2007
Sequim Home for Sale in Sun Meadows
Sequim Real Estate Summer Analysis 2007
Sequim Home with a View
Sequim Home for Sale By Owner
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