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February 2010
Carrie Pierce & Associates Newsletter
Seattle Magazine 5-Star "Best in Client Satisfaction" Award Recipient
In This Issue
Corners & Cul de Sacs
Home Prices Rising
Failed Closings Up
Street Corners vs. Cul de Sacs
Real estate agents chant the mantra "location, location, location." Some may cite a fourth factor, "walkability." They argue that walkability lowers crime, and that it generally improves life and sharply raises home values. A study found that in many ways, the street corner beats the cul de sac. It looked at the sales of 90,000 homes in 15 markets to estimate how much value was associated with something called the Walk Score, which rates the number of destinations within walking distance of a home.

Get your WalkScore

Quiz Question
On average, how many pounds of chocolate are sold in the week leading up to Valentine's Day?

Everyone who emails the correct answer will be entered into a drawing to win a $35 gift certificate to Outback Steakhouse. Congrats to last month's winner, Thomas Kayser.
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Carrie Pierce
425.518.1176

Seattle-Area Home Prices Rise for 2nd Straight Month
Seattle-area home prices rose on a seasonally adjusted basis in November for the second straight month after 2 ½ years of declines, according to a closely watched index.

The Standard & Poor's/Case-Shiller home-price index for Seattle rose 0.28 percent in November from October after a 0.44 percent bump the previous month. Before then, the index had dropped every month since peaking in May 2007.

The composite, 20-city index inched up 0.24 percent, the sixth straight monthly increase. While Seattle prices didn't start rising until more recently, prices here kept climbing for a year after those in most other cities began dropping in 2006.

Read on

Record Number of Home Sales Fell Through
The wide disparity between closed and pending sales is yet another reflection of just how dramatically the local real-estate market has changed. Before the bubble burst, rapidly appreciating home values meant short sales were rare. And buyers who insisted on a home inspection often risked losing the house to another bidder.

Pending sales of single-family homes totaled more than 23,000 in 2009, the NWMLS said in its year-end summary. But just 16,000 sales - about 70 percent - actually closed. The ratio was similar for condos.

The gap has been much narrower historically. In 2008 the number of closed house sales in King County was about 85 percent of pending sales. In previous years it was above 90 percent...

Why Aren't Homes Closing?
February Events
Northwest Flower & Garden Show
February 3-7

Love 'Em or Leave 'Em Dash
February 13

Valentine's Day

February 14

Presidents' Day
February 15

Seattle Home Show
February 20-28