According to the recent NWMLS news, double digit gains in pending and closed sales for April over the same time a year ago; and for the first time in over four years selling prices increased slightly over the previous year.

“We’ve seen appreciation three months in a row, signaling a definitive turnaround in the market,” remarked Northwest MLS board member OB Jacobi. “Due to the shortcomings in the Case-Shiller index, I think it will take them until November to report year-over-year appreciation,” he added.

“As is fairly typical of a recovering market, the activity first heats up in the urban centers, and then spreads to the surrounding suburbs and outlying areas. We are now seeing this trend,” noted Jacobi.

Tight inventory has created sellers’ markets in some areas, according to reports. Inventory is down 27% overall, and most notably down 46.2% in Snohomish county, down 39.4% in King and Pierce is down 28.6%. As demand outweighs supply competition may even intensify, especially for those homes well priced and in good condition or desirable locations.

Low inventory and favorable interest rates are being credited for current activity. Joe Spencer, MLS director, said “As Yogi Berra said, ‘It’s like deja vu all over again’ as the Puget Sounds real estate market continues trending in the same positive direction for the fourth month in a row.” With new and available inventory in a diminished state, he said there’s been a strong in crease in buyer activity. “Low interest rates continue to energize buyers, while for sellers, prices in the Puget Sound are stable and up in areas close to job centers,” according to Spencer.

Darin Stenvers believes the housing industry is recovering on its own, citing double-digit decreases in inventory for the past several months and a corresponding rise in pending sales as key indicators.

“It’s a slow process, but I expect it will continue for the balance of 2012 and through 2013,” Stenvers said, noting he anticipates a return to home value appreciations in most markets by mid-2013. He also predicts consumer confidence will hold interest rates down through the fall elections and into 2013.

According to an article posted on Inman News, the best time to sell is when:

• consumer confidence is on the upswing
• unemployment is decreasing
• interest rates are low
• the economic news is mild
• there are more buyers than sellers – a high-demand, low-inventory market

Lynn Franco, director of The Conference Board Consumer Research Center, attributed the improvement in consumer confidence in February to less pessimism about current business and employment conditions and more optimism about the short-term outlook for the economy and job prospects despite a rise in gas prices. Franco said the moderate decline seen in March was “due solely to a less favorable short-term outlook.”

Interest rates are currently at historic lows and are expected to stay low for the rest of the year. Even with low rates, buyers have had difficulty qualifying due to rigid mortgage approval underwriting.

Analytics firm Capital Economics expects the housing crisis to end this year partially due to lenders loosening credit. According to Capital Economics, one indicator of loosening is that banks are now lending 82 percent of loan-to-value (LTV), compared with a low of 74 percent LTV reached in mid-2010. This means qualified buyers need less cash to buy, which should lead to more sales this year.

These positive indicators combined with a drop in homes for sale at the end of 2011 and a decrease in unemployment  provides a great opportunity for sellers in spring 2012.

According to Seattle’s Technology News Source Techflash.com, salaries are on the rise for employees in the Seattle area.

The Seattle-based PayScale.com payroll index indicated the Seattle-Tacoma-Bellevue region has seen the largest salary growth in the country since this time last year. Though Seattle was beat out by Austin Texas earlier this year for technology startup salaries, Seattle saw 3.2 percent overall salary growth, compared to 1.4 percent salary growth nationwide.

This is a significant increase over last year’s report, which found the region up only 0.7 percent between the first quarters of 2010 and 2011. It’s also a marked improvement over the 2009/2010 index, which showed Seattle salaries dropping by 2 percent.

To recap, the top five salary increases by metropolitan region are:

• Seattle-Tacoma-Bellevue: 3.2%
• Houston-Baytown-Sugar Land: 2.7%
• Philadelphia-Camden-Wilmington: 1.8%
• St. Louis, Mo.-Ill.: 1.7%
• Dallas-Fort Worth-Arlington: 1.5%

In this recent article Longview was profiled as one of 5 pretty towns in America. With the port clustered around the Lewis and Clark Bridge the surrounding scenery is amazing. “It is one of the only, if not the only planned community in the west at the time,” says Foster Church of “Discovering Main Street: Travel Adventures in Small Towns of the Northwest. “It was planned by a wealthy lumber magnate who decided to build two lumber mills in this location because it was close to the Columbia River.”

As reported by Forbes.com he needed 14,000 workers to help run his two mills, so in 1921, he built a city that could house up to 50,000 people. Today, the town retains its old town lumber mill feel, and is home to the well-planned but serene beauty of Lake Sacajawea Park, which Foster says is “one of the most beautiful parks I’ve ever seen.”

Read the full article that includes not only Longview Washington but also a glimpse of Newport RI, Old San Juan Puerto Rico, Key West FL and Tarrytown NY.

Evidence to this report is one of our premier properties, the Hill Ranch. Truly spectacular.

Local celebrity real estate agents including our own Randi Brazen and others such as Mark von der Burg of Coldwell Banker Bain, Tere Foster of Windermere Real Estate/East and Vija Williams of Luxury Homes by Keller Williams-Kirkland, will be discussing various topics from how they got into the industry, marketing strategies and success tips. Maverick Commins from Scottsdale, AZ-owner of Supreme Auctions, Luxury Home Auction House will be there to discuss his ventures in the international luxury auction arena, as well as Celebrity Guest Speaker Josh Altman from BRAVO TV’s Million Dollar Listing discussing various topics from successful business strategies to incredible and amazing negotiation skills.

The event will be held at the Meydenbauer Center in Bellevue Washington on Thursday, March 15. See the online flyer for more information.

Housing crisis expected to end this year according to a recent report. Loosening credit is dubbed as the catalyst.

The average credit score required to attain a mortgage remains at 700 after the crisis, which is higher than scores required prior. But this number has stabilized. In addition banks are now lending amounts up to 3.5 time borrower earnings, up from a low during the crisis of 3.2. Loan-to-value ratios (LTV) are also being loosened, denoted as “the clearest sign yet of an improvement in mortgage credit conditions” by Capital Economics.

Banks are now lending at 82% LTV in contrast to 74% in mid-2010.

Although conditions have loosened slightly, some potential homebuyers are struggling with the credit requirements. Capital Economics points out that in November 8% of contact cancellations were resulting from prospective buyers not qualifying for a loan.

Capital Economics continues by noting “Any improvement in credit conditions won’t be significant enough to generate actual house price gains”.

Looking forward, Realogy and the Sotheby’s International Realty brand continue to see signs of a stabilizing housing market:

• On February 21, Fannie Mae stated that in 2012 the housing market will make a positive contribution to GDP growth for the first time in seven years.
• For full-year 2012, the National Association of Realtors (NAR) is forecasting 4.55 million unit sales, which would amount to a 7% year-over-year increase. Similarly, the Fannie Mae forecast calls for a 6% increase to 4.5 million units in 2012.
• Looking at median sales price, NAR’s current estimate calls for a 1% increase in 2012 while Fannie is more conservative, showing a price decline of 3% for 2012.
• Combined with lower inventory levels in many markets, very attractive pricing, historically low mortgage rates and high affordability levels, we have reason to be optimistic.

Healthy marketplaces are finding their place amidst smaller inventory and respectable financing options according to the current Northwest Multiple Listing Service report.

“All over we are seeing healthy marketplaces emerge as the inventory levels drop”, said J. Lennox Scott. “As you get closer to the job centers of Seattle and Bellevue, the marketplace is looking strong again. The outlook for 2012 is the continuation of a strengthening marketplace, especially in the more affordable to mid range priced homes.”

The combination of shrinking inventory and favorable financing is causing some areas to become a seller’s market if measured by the supply of homes. Area-wide there’s about a five month supply of homes, generally considered to be a balanced market favoring neither side.

Snohomish County inventory of active listings is down more than 28 percent from a year ago. Sub-areas of King County, including Renton, Federal Way, Ballard, Sand Point, Lake City and parts of Bellevue have an even shorter supply of properties on the market in relation to demand.

A slight increase in sales activity in the high-end market (up to a million dollars) around Seattle and Bellevue is anticipated due to higher FHA loan limits, which in turn can increase sales activity in mid-price ranges as existing homeowners move up in price range. Well priced homes are still receiving multiple offers, and interest rates in the “3’s” will contribute to the momentum.

OB Jacobi believes the market has undergone a shift. “Where we’ve been during the past year is a place of transition. It has been a slow recovery, but the housing market has finally turned a corner, albeit a soft one with some bumps along the way” he commented.

Click here to download the NWMLS report that includes December 2011 Market Activity Summary and Puget Sound Region Pending Sales for 2000-2011 monthly comparison chart.

Touted by a “voracious consumer of trophy real estate” in the Homes section of Wall Street Journal online, software billionaire Larry Ellison has collected hundreds of millions of dollars worth premium properties around the world.

Mr. Ellison, co-founder of Oracle, has quite the list of properties, including five adjacent lots in Malibu, a Rhode Island mansion (formerly the Astor family’s), a historic garden property in Kyoto and a Rancho Mirage estate with it’s own 19-hole golf course.

His determined approach has proven to get him what he wants. With the philosophy “buy the best without compromise”, scouting, quick decision-making and a lot to fall back on financially, the compounds, mansions, villas and estates he’s amassed are proof that his approach is effective.

A few things you may not know about a successful yet complex man, Larry’s taste for real estate investments could possibly have been sparked by his adoptive father’s success in earning a small fortune in Chicago real estate prior to the Great Depression. And in 2010, this third richest man in America won the 33rd America’s Cup. His “BMW Oracle” team beat rival billionaire Ernesto Bertarelli’s Alinghi team by 5 minutes, 25 seconds.

Mr. Ellison is currently focusing his efforts on properties in Lake Tahoe, records show he spent $102 million in the last few years buying both on-the-market and not so on-the-market properties and has assembled 3 large parcels on the lakefront.

His Incline Village neighbors at Lake Tahoe say his compound evokes the feel of old Tahoe and that Mr. Ellison has done a meticulous job of making sure the house fits into the surroundings. “It’s in keeping with the rustic atmosphere of the mountain community”.

Some say projects such as Mr. Ellison’s help keep people employed in tough times and that his investment is a sign of confidence in the local real estate market.

Both pending and closed sales came out on top during the month of August this year, according to the latest report from Northwest Multiple Listing Service.  August results showed the highest number of mutually accepted offers since April 2010’s tax incentive.

Up 26% from the same time last year, brokers reported 7,632 pending sales for August. Thirteen counties had double digit gains in pending sales from a year ago, with Snohomish jumping more than 46 percent.

MLS director OB Jacobi expressed excitement at the positive momentum in the market, noting the most active were the $600k to $800k price ranges in King County, and added that low inventory continues to be an issue across the board.

Closed sales for August rose 35% over August a year ago, with inventory dropping by 16% between this August and last. This discrepancy is causing a competitive multiple-offer environment, and buyers are encouraged to be ready to place an offer. Suggestions for buyers include:
1. Get pre-approved
2. Subscribe to daily email notifications of new listings entering the market (click here to subscribe now)

With favorable conditions like affordability, home prices more in line with income levels, and historically low interest rates there is renewed enthusiasm in the market.

For professional representation contact Brazen Sotheby’s International Realty today.

For this indepth report and resulting list, Inman narrowed it down to 10 real estate markets nationwide, calculated from the period spanning June 2010 through May 2011. To arrive at the top 10, states were selected that had high sales rates per agent, then Inman drilled down further into metro areas with high average dollar volume per realtor.

Final Top 10 List (in order)

1. Seattle-Bellevue-Everett WA
2. Fort Worth-Arlington TX
3. Denver-Aurora-Broomfield CO
4. Salt Lake City UT
5. San Antonio-New Braunfels TX
6. Pittsburgh PA
7. Dallas-Plano-Irving TX
8. Kansas City MO,KS
9. Austin-Round Rock-San Marcos TX
10. Nashville-Davidson–Murfreesboro–Franklin TN

To be considered, a metro area had to have a high sales rate in at least one of the following:

• The state’s licensee sales rate (total sales June ‘10-May ‘11, divided by total real estate licensees)
• The state’s active licensee sales rate (total sales June ‘10-May ‘11, divided by total active real estate licensees)
• The state’s Realtor sales rate (total sales June ‘10-May ‘11, divided by total Realtors)

Among those listed, the Seattle metro area was the high end of the range with $1,540,000 average volume in sales per realtor for the previous year. Ranging at the low end of the top 10 was the Nashville metro area with $599,171.

This report indicates the Seattle, Bellevue and Everett realtors are doing well when compared nationally, perhaps due to a better-than-average local economy, a shared trait with the other 9 areas on the list. See the <a href=”http://www.inman.com/reports/top-market-income/index.html”>full report here</a>.

This week the lowest mortgage rate offered for a 15 year FRM was 2.875 percent (3.11% APR), which is down from 3.00 percent offered last week. Recently 30-year fixed rates hit the lowest level since Freddie Mac started keeping statistics.

The low interest rates coupled by incredible real estate deals make it an ideal time to upgrade to a nicer home or purchase an additional property.

Washington State takes three spots in the top 18 out of 100 “Best Places to Live” 2011 rankings, with Mukilteo taking ninth, Sammamish coming in at 15th and Newcastle taking 18th.

According to the CNN Money article, ninth-ranking Mukilteo boasts a good economy, low percentage of bank-owned homes and new employment with area employers such as Boeing. Good schools, beautiful location on Puget Sound and affordable homes wrap up the prize-winning package.

15th on the list, Sammamish, is surrounded by scenic mountains and lakes and is in close proximity to both Puget Sound and ski resorts. Area high-tech employers such as Boeing, Amazon and Microsoft help make Sammamish such a desirable place to live.

And Newcastle, 18th on the list, hosts a 350-acre golf course, 12 parks and 3,115 acre Cougar Mountain Wildland Park is right next door. The tech employers are easily accessible and there’s and incredible volunteer spirit in Newcastle, all of these together make it an attractive place to live.

The top 3 places were Louisville, CO; Milton, MA and Solon, OH. See the full 2011 list with descriptions here.

The trendsetting family business in Issaquah Highlands, Plateau Realty, has partnered with Brazen Sotheby’s International Realty of Bellevue.

Scott Gibbons established the Got Scott? mindset in Issaquah Highlands, selling over 300 homes in the process. He’s out to do it again with the nation’s leading Luxury home brand, Sotheby’s, the pride of Realogy Corp.

Larry Cragun of ihighlands.neighborhoodsundressed.com asked why Scott made this change.

He chose Sotheby’s from others because of the international exposure (540 offices worldwide), their marketing and technology, and the fact he loved their brands offering. He is already working with buyers from out of the area that are being referred through their beautiful website. You will note the professional photography is a class to itself. Scott says that every listing must meet this photographic standard. Because of it’s international clientele the website is customized in 9 different languages.

We’re excited about our alliance with Scott and his expert team at Plateau Realty, and look forward to an even stronger presence in the Issaquah, Bellevue, Seattle, regional and international luxury real estate markets!

According to a story on AOL Money & Finance Site dailyfinance.com:

It may be the “Apple Capital of the World” but Wenatchee also offers an endless array of recreational options, including skiing, hiking, camping hunting and fishing. Stunning views make this city the Northwest’s very own “Garden of Eden.” – PR Newswire

How far does your money goes in Wenatchee?
State tax on pensions: No
State tax on Social Security: No
Sales tax: 8%
Property tax rate: 10.52%

Best way to spend $10…
Have a milk shake downtown at Owl Soda Fountain & Gifts, founded in 1926, then check out “Art on the Avenues,” a collection of more than 70 unique outdoor sculptures scattered throughout Wenatchee.

Best night on the town…
Fall in love with baseball all over again with the AppleSox, part of the West Coast League, a wooden-bat summer collegiate league. -AARP

Dreaming about retiring to a villa in the Wenatchee hills with your own vineyard?

Take a look at our private gated 11 acre estate with a 1/2 acre vineyard and 8,000 sq. ft Italian villa that comes fully furnished. You’ll marvel at the 4 luxurious bedroom suites, 5.5 baths, den, family room, game/billiard room, library and music room/receiving room. See the virtual tour and photo gallery of our Wenatchee Villa in the Hills.

Bellevue’s forested cityscapes, compact downtown bristled with new skyscrapers hovering above Lake Washington, and surrounding Mountain views are only part of the reason Bellevue was selected as fourth best place to live in 2010.

Bellevue’s jobless rate is more than two points below that of the Seattle metro area due to jobs with Microsoft, T-Mobile, Verizon, and Expedia as well as others. Bellevue has more jobs than it does residents.

Add to that the diversity in population, top ranking high schools, unending arts and entertainment as well as 74 parks, and it becomes clear why Bellevue rises to the top of the best places to live in 2010.

For Bellevue statistics and more information see the full article at money.cnn.com.

Bidding wars in certain price ranges and neighborhoods has been recently reported by NWMLS representatives for certain King County properties as well as real estate in Whatcom and Kitsap Counties. The latest figures show fewer sales and lower prices than a year ago, and this combined with shrinking inventory is what’s got some brokers reporting a “shortage of good listings” and some “signs of normality” in the real estate markets.

Going back two years pending sales did rise 3.4% in April, and compared to the same month in 2008 there was a rise of 15.2%.

It was observed this “multiple offer market” most possibly has been created by the shortage of homes coming on the market, low foreclosure activity, and the decline in joblessness reported across the country that is boosting buyer confidence.

The numbers that came in for March show real estate in Western Washington saw pending sales fall below last year’s numbers during the same period, but the market seems to be faring quite well if last year’s tax credits are taken into consideration. Compared to two years ago this March showed a double digit jump.

Current home sales in Bellevue, Seattle and across the Northwest seem to be holding strong without the benefit of government incentives this year, and it’s reported the market is actually behaving quite typically compared to historical trends.

It has been noted that real estate in West Bellevue, Greenlake and Queen Anne are seeing high demand for desirable homes; and with these properties in short supply realtors are receiving multiple offers for a single property. Consequently, contracts are settling over the list price for the best homes.

We are encouraged by the high demand for quality properties, visit our featured properties gallery to see what’s available.

Although recent housing activity continued to reflect the problems of lower prices and fewer sales, brokers still believe that Northwest Multiple Listing Service numbers show reason for optimism. While February’s pending sales of single-family homes were down about 9.2% a year ago, the figures did rise from January, and were the highest they have been in six months.

The selection of properties available is somewhat smaller and some attribute it in part to the amount of distressed properties on the market.

Sellers are not wanting to compete with the foreclosed (or about to be foreclosed) properties because of the lower prices, but, in fact, some sellers of non-distressed properties are showing a stronger demand. It was pointed out that a variety of neighborhoods closer to the city have sellers getting multiple offers, and one high-end property in Ballard actually received seven offers and sold for more than the $800,000 asking price.

While distressed properties can lower some home prices, note when Windermere removed the distressed sales from their February numbers the analysis showed the median home price rose from $334,000 to $390,000.

Some higher-end luxury property areas are reporting minimal distressed property numbers, with West Bellevue having only seven bank-owned single family homes and Mercer Island only one for the month of February.

Another positive aspect of the distressed properties market is the big savings to patient buyers. One broker reported that one of their agents closed a new 2 bedroom modern townhouse in Columbia City for $130,000 less than half the asking price. Clearly a bonus for buyers with time to wait for the right property to come along.

Other brokers are pointing out a variety of positive factors including the upsurge in web traffic. Frank Wilson, a NWMLS Director, says their web traffic is 3 to 4 times higher than previous months.

Other broker optimism stems from Seattle neighborhoods showing less than two homes for sale for every sale that is pending, a ratio close to what it was at the market’s peak.

All this said, with the busiest time of the year approaching, the real estate market is continuing to show positive signs laying the foundation for future growth.

According to news from Washington State’s Employment Security Department, February had the strongest month of job growth in more than three years.  That, combined with the announcement recently that the Boeing Company won the Air Force tanker contract, helped to further boost optimism in the Bellevue and Seattle Real Estate markets.

With applications for home mortgages jumping to the highest level in three months, the mortgage Bankers Association seasonally adjusted index of refinancing applications climbed 17.2% and the gauge of loan requests for home purchases gained 12.5%. Michael Fratantoni, MBA’s vice president of research and economics, also pointed out that mortgage interest rates staying below 5% helped maintain affordability for buyers and an increase in applications. Fratantoni believes that with the job market continuing to improve, the housing market will be sure to follow.

All around the country real estate agents are expressing optimism about the positive effects of the weather on the real estate market.

For many on the East Coast, the record breaking snowfall and cold weather have prevented many from putting homes on the market, as well as keeping those who are looking to buy inside.  The hope is the new season will bring a surge of shoppers, more eager to buy because of being pent-up all winter.

In Williamsburg, Virgina, Linda Kinsman, executive director of the Williamsburg Area Association of Realtors, has compiled statistics showing that median home prices in the greater Williamsburg area were up more than eleven percent from January and February of 2010.  Another positive indicator is the time that properties are on the market is continually falling. In January it was down to 104 days from 141 days in 2010, and February was down 91 days from 123 days in 2010.

The combination of better weather and quicker turnover of properties should motivate both buyers and sellers to venture out into the real estate market this Spring.

Seattle ranks 6th on CNN’s list of best recovery bets.

Nestled between the Olympic and Cascade mountain ranges, right on Puget Sound, the city has always commanded high real estate prices compared to surrounding areas.

Though hard hit with foreclosures when the economy stumbled, Seattle’s unemployment rate has dropped below 9%. Lennox Scott, CEO of John L. Scott Real Estate, says with Boeing, Microsoft and Amazon all offering well paid jobs in Seattle, the city’s economy is doing better, and that’s firming up the purchase market.

Because Seattle is positioned between mountains and the sea, there is only so much build-able land. This and it’s desirability as a place to live will continue to help rebound home prices as the supply of foreclosed homes dries up.

Tacoma is another area in the Pacific Northwest poised to make gains in the housing market.

With the median home price at $240,000 although it’s dropped 27.9% since the market peaked, it’s estimated to gain 11.8% by September 2011.

Tacoma is close to Seattle, but has much more land able to be developed, Scott pointed out. Other advantages of Tacoma are it’s port and rail terminals, as well as it’s close proximity to Puget Sound and both the Olympic and Cascade mountain ranges.

While there is a great deal of single family home development going on in Tacoma, there will still be a shortage in the supply of affordable homes, especially in the Seattle area where prices are up to 50% more than Tacoma.  This gap will recede over time as the recovery occurs and Tacoma homes should appreciate more quickly.

Although fourth quarter real estate numbers were depressed, many local area real estate agents are seeing a turnaround early on this year.

Not only are more buyers showing up for open houses, but they are making more offers. According to Tom Wilbanks of Windermere Real Estate, the people who have been hesitating are realizing that in terest rates are going up and they’d better purchase while they’re low.

People appear to be more optimistic and this is good news if you’re selling or considering it.

Northwest Multiple Listing Service’s charts are showing a spike in new listings early this year, inventory is down and pending sales have jumped since December.

It’s still a buyers market.  However, with the optimism that the economy is recovering, and supply being limited, sellers have reason to be encouraged too.

While the economy continues to gradually improve, it seems more and more people are realizing now is the time to take advantage of the low prices.

According to the National Association of Realtors, home sales rose more than expected recently as buyers tried to lock in on lower interest rates.

In a recent Gallup poll 67% of people surveyed stated that now is the best time to purchase a home. With the U.S. housing finance system, and the structure of the housing market itself poised to change over the coming year, it seems Americans believe that they should invest in housing while they can.

In other positive news the Commerce Department showed building permits for new single-family homes rose 5.5% for the third month of increases in a row. Lawrence Yun, a chief economist with the National Association of Realtors, believes that job creation is driving the increases. With more people working, more people can afford to buy.

With confidence in the job market continuing to build, it appears Americans are looking forward to taking advantage of the real estate market and purchasing new as well as existing homes.

Brazen Sotheby’s International Realty is here to help, call us for info about great prices on luxury real estate in area markets such as Bellevue, Medina, Clyde Hill and Eastside as well as the Greater Seattle Area.

Although some housing figures were slightly down, news appeared positive for many at the end of 2010. Northwest Multiple Listing Service members closed sales of single family homes and condos (combined) of 52,408, which is up from 52,105 for the same period in 2009.

According to OB Jacobi, NWMLS board member, King County’s home sales actually increased 3% from 2009.  Another reason for optimism is the amount of consumer confidence shown in Washington malls during December. With more people shopping than before the upswing in the economy is apparent.

Buyers are savvy to the opportunities out there and are taking their time to find just the right property. One of Jacobi’s agents worked with a couple for a year before the price dropped on the luxury home they were looking at. They snapped up the property. Buyers are willing to purchase, but the price has to be right.

Ron Phipps, a third-generation real estate professional in Rhode Island, believes that many opportunities will be available, especially in the winter months when there are less people willing to go out and look at properties.

With the economy’s steady improvement and great affordability in homes, it appears that 2011 will continue to bring buyers to the market.

With interest rates below 5% and prices bottoming out for the first half of the year, Freddie Mac’s chief economist Frank Nothaft says buyer affordability is at it’s highest level in decades.  People who are first-time home buyers with a secure income will be taking advantage of these conditions.

Another factor indicating forward momentum is the improving job market.  Chief economist Dean Maki of Barclay’s Capital Inc. continues to expect a solid growth rate in the housing market because of this stabilization.  According to the National Association of Realtors pending sales of existing homes jumped 10% in October, an unexpected but positive result of the low mortgage rates and job and income growth.

Although there may still be areas to be wary of, in 18 of 25 large metro areas in the U.S. the value of homes bought in 1990 had actually increased by 2010, sometimes by double digits.  According to historical data from the National Association of Realtors, this shows that homeowners who are in it for long-term investments have historically seen increases in the value of their properties.

The data indicates that in “inflation-adjusted” terms third quarter home sales prices remained approximately 9.5% higher than in 1990.  A variety of economists from NAR, Fiserv and Moody’s Analytics that were interviewed believe home prices should continue to grow slightly more than inflation over time.

This information indicates long-term housing is still a good investment, especially now with the upside looking better than it has in decades.

According to a new study by Fannie Mae, the majority of Americans surveyed still aspire to own their own homes.  Although the mortgage crisis is still influencing some, most Americans who already own homes are determined to maintain ownership, and those who rent have aspirations to buy.

Among the key findings in the survey released in November was 51% of those surveyed said the housing crisis didn’t affect their decision to purchase a home.  Also, 89% of homeowners and 44% of renters believe they’d be better off owning their own homes.

With reports from a leading credit bureau stating that the percentage of U.S. homewoners who are delinquent on their mortgages continuing to fall and interest rates staying low, the news continues to be positive for those who own homes and those eager to buy.

According to members of the Northwest Multiple Listing Service there were some nice surprises in November’s housing market including an upswing in relocation sales, and a year-t0-date volume of closed sales that’s outpacing 2009.

It was noted there was an increase in move-up buyers for mid-range home prices in both the Eastside and Seattle real estate markets.  In King County prices rose from $337k to $340k, and other counties including San Juan, Skagit and Whatcom also reported year-over-year price gains.

NWMLS Director OB Jacobi remarked that the gain in transactions written up for November were surprising since it’s usually a slower sales month during the year. Other factors Jacobi noted were increased activity at open houses and new buyers motivated to be in their houses before the holidays.  Also very encouraging was an upswing in relocation sales, indicating a positive shift in the employment sector as employers want new hires in place for the first of the year.

With inventory priced from $15k for a manufactured home in Shelton to a $28.8 million dollar luxury home on Mercer Island, there are plenty of properties to choose from, and with the interest rates still low buyers continue to move forward with real estate purchases.

Last week Lawrence Yung, the chief economist for the National Association of Realtors®, stated there is a rising trend in the housing market. He attributes this to the historically low mortgage rates and incredible affordability.

OB Jacobi, NWMLS director says move-up buyers have had a noticeable impact on the market. From mid-year on his analysis has shown that over a third of all sales have been homes in the $500,000 plus price range.

Although median prices for single family homes and condos have remained flat overall, areas such as Kittitas, Lewis and Mason counties have all reported gains.

According to NWMLS director Frank Wilson, the housing market should continue to improve. Other broker-members of NWMLS are already seeing this occur in a variety of housing markets, and include Bellevue, Kirkland, Redmond, Mercer Island and Seattle real estate as well as other King County areas.

Advice to buyers and sellers has not changed says Wilson, sellers should price accordingly and buyers should take advantage. With record low interest rates and abundant inventory, buyers should not hesitate to make offers on appealing properties.