CityofOceanShores.com 2011 Wrap-up

Greetings from the beach...

Another year has passed and the real estate market and the economy remain at the top of our lists of concerns. 2011 was a rough year for Ocean Shores. Local elections, a big wave that never happened and a local teenager marrying an old man from Hollywood pretty much stole the headlines. That said, it’s the beach and a lot of us here try not too worry much about the rest of the world because we’ve got waves, a lake & canals, a golf course, casino and the freshest air around…

Ocean Shores Residential Sales
The Ocean Shores residential real estate market declined even further in 2011. Home sales were down 5.5% while average sales prices declined just over 16%. Over 25% (43) of the 169 homes sold last year were either short sales or foreclosures. This high number of short-sales, bank-owned houses as well as repos from Freddie Mac and Fannie Mae have done some serious damage to Ocean Shores property values. The average price of one of these homes was only $104,422 compared to the overall average sales price of $143,192. The good news for now is that only a little over 11% of the 207 homes on the market today are either short sales or foreclosures. Hopefully that number will continue to shrink…

2011 Home Sales
The average home that sold last year in Ocean Shores was 1283 square feet and took 223 days to sell compared to 1395 square feet and 218 days in 2010. There are only 207 Homes on the market (there were 243 on October 1^st) ~ Average list price: $199,075 (which is only $55,883 more than the average sales price in 2011)… ~ Average of 294 Days on Market. One has been on the market for 2,341 days now (that’s almost 7 years!) in case you’re frustrated that your house hasn’t sold yet… There are only 20 Homes pending (which is not enough)… ~ Average list price of those: $119,728.
* 169 Homes sold in 2011 for an average sales price of $143,192 (cheapest was $32,905 – most expensive was $405,000).

* 179 Homes sold in 2010 for an average sales price of $170,724 (cheapest was $28,000 – most expensive was $520,000).
* 180 Homes sold in 2009 for an average sales price of $173,421 (cheapest was $31,500 – most expensive was $495,000).

2011 Quarterly Home Sales
* 56 Homes Sold during 4th Quarter 2011 ~ Average Sales Price: $130,163 ~ Average of 213 Days on Market. Price Range: $32,905 - $360,000.
* 46 Homes Sold during 3rd Quarter 2011 ~ Average Sales Price: $153,207 ~ Average of 237 Days on Market. Price Range: $50,199 - $299,000.
* 32 Homes Sold during 2nd Quarter 2011 ~ Average Sales Price: $140,180 ~ Average of 181 Days on Market. Price Range: $42,750 - $265,000.
* 35 Homes Sold during 1st Quarter 2011 ~ Average Sales Price $153,631 ~ Average of 260 Days on Market. Price Range: $44,000 - $405,000.

Want to know what's going on in the Ocean Shores Real Estate market more than once a quarter? Be a Fan & "Like" us at http://www.facebook.com/pages/Ocean-Shores-Real-Estate/42604953991. Thanks! By the way, the contents of this newsletter were posted on the facebook page before you got this...

Ocean Shores Condo Sales
Unlike houses and vacant lots, the condo market in Ocean Shores is on the rebound with a 26.7% increase in average sales prices! Last year, sales had dropped over 30% and average sales prices were down nearly 20%. 2010 was a terrible year for condo sales in Ocean Shores, but 2011 has clearly shown that the condo market has stabilized as inventory has finally cleared up and prices are quite realistic... now. Four significant changes in the condo market in 2011 were: Dreamscape sold off their remaining inventory; Ocean View Estates had a major price drop, the Gitchee Gumee decided to be a hotel again and The Villages condo project has finally died. This reduction in inventory has been huge.

2011 Condo Sales
The average condo that sold last year in Ocean Shores was 920 square feet and took 430 days to sell compared to 767 square feet and 339 days in 2010. There are only 39 condos on the market (compared to 137 last year at this time!) for an average list price of $138,997 (compared to $148,274 last year). There are 2 condos currently pending compared to none at this time last year. Average list price: $120,750.

* 17 Condos sold in 2011 for an average sales price of $141,906 (cheapest was $5,000 (time share) – most expensive was $224,900).
* 17 Condos sold in 2010 for an average sales price of $111,965 (cheapest was $25,000 – most expensive was $259,000).
* 25 Condos sold in 2009 for an average sales price of $138,468 (cheapest was $41,000 – most expensive was $350,000).

2011 Quarterly Condo Sales
* 6 Condos Sold during 4th Quarter 2011 ~ Average Sales Price: $127,133 ~ Average of 190 Days on Market. Price Range: $5,000 - $220,000.
* 5 Condos Sold during 3rd Quarter 2011 ~ Average Sales Price: $144,520 ~ Average of 257 Days on Market. Price Range: $33,000 - $224,900.
* 3 Condos Sold during 2nd Quarter 2011 ~ Average Sales Price: $209,967 ~ Average of 1471 Days on Market. Price Range: $185,000 - $212,000.
* 3 Condos Sold during 1st Quarter 2011 ~ Average Sales Price $108,000 ~ Average of 19 Days on Market. Price Range: $63,000 - $142,000.

Ocean Shores Vacant Lot Sales
The number of vacant land transactions decreased this year by 16.9% over last. The constant challenge of getting buyers to assume the Street LID or getting sellers to pay it off has proven to be a challenge in obtaining sales. Like last year, a lot of sellers rapidly dropped their prices to unload these lots to really low prices which did motivate numerous buyers to take advantage of the cheap pricing. 62 of the 136 lots sold this year sold for under $15,000. 24 of them sold for less than $10,000.

2011 Vacant Lot Sales
There are currently 416 lots on the market for an average list price of $49,007. There are 8 lots currently pending for an average list price of $17,143. It took 320 days to sell a vacant lot in 2010 compared to 265 days in 2011. One lot took 1951 days to sell…

* 136 Lots sold in 2011 for an average sales price of $27,987 (cheapest was $4,999 – most expensive was $175,000).
* 159 Lots sold in 2010 for an average sales price of $27,953 (cheapest was $5,000 – most expensive was $179,500).
* 134 Lots sold in 2009 for an average sales price of $34,968 (cheapest was $8,500 – most expensive was $155,000).

2011 Quarterly Vacant Lot Sales
* 29 Lots Sold during 4th Quarter 2011 ~ Average Sales Price: $31,724 ~ Average of 248 Days on Market. Price Range: $4,999 - $175,000.
* 42 Lots Sold during 3rd Quarter 2011 ~ Average Sales Price: $28,346 ~ Average of 303 Days on Market. Price Range: $6,000 - $127,000.
* 36 Lots Sold during 2nd Quarter 2011 ~ Average Sales Price: $25,873 ~ Average of 269 Days on Market Price Range: $6,500 - $145,000.
* 29 Lots Sold during 1st Quarter 2011 ~ Average Sales Price $26,355 ~ Average of 220 Days on Market Price Range: $7,500 - $130,000.

2011 Multifamily Sales
1 Multifamily Building sold in Ocean Shores in 2011 for $179,900. It was a 4-plex that was a foreclosure. 1 Multifamily Building sold in Ocean Shores in 2010 for $149,500. It was also a foreclosure.

2011 Commercial Property Sales
3 Commercial Properties sold in 2011 for an average price of $200,500 compared to 2 sales in 2010 for an average sales price of $350,000.

Total Real Estate Sales for all of Grays Harbor
2011 – 1038 Transactions with a total volume of $112,102,309.
2010 – 987 Transactions with a total volume of $115,558,046.
2009 - 936 Transactions with a total volume of $120,726,549.

Harbor Home Sales
695 Homes sold in Grays Harbor County in 2011. Average price: $134,342.
652 Homes sold in Grays Harbor County in 2010. Average price: $145,991.
626 Homes sold in Grays Harbor County in 2009. Average price: $152,428.
Harbor Home Sales Summary
Ocean Shores – 169 Homes sold
Aberdeen – 161 Homes sold
Hoquiam – 97 Homes sold
Elma – 57 Homes sold
Westport – 49 Homes sold
Montesano – 44 Homes sold
McCleary – 26 Homes sold
Cosmopolis – 22 Homes sold
Pacific Beach – 20 Homes sold
Oakville – 14 Homes sold
Grayland – 13 Homes sold
Copalis Beach – 10 Homes sold

Harbor Condo Sales
31 Condos sold in Grays Harbor County in 2011. Average price: $137,858.
41 Condos sold in Grays Harbor County in 2010. Average price: $124,232.
43 Condos sold in Grays Harbor County in 2009. Average price: $159,185.

Ocean Shores vs Westport Condo Sales
Westport – 13 (22 in 2010) Condos sold in 2011: Average price: $134,323.
Ocean Shores – 17 (17 in 2010) Condos sold in 2011. Average price: $141,906.

Harbor Vacant Lot Sales
263 Vacant Lots sold in Grays Harbor County in 2011. Average price: $43,800.
240 Vacant Lots sold in Grays Harbor County in 2010. Average price: $43,099.
206 Vacant Lots sold in Grays Harbor County in 2009. Average price: $44,004.
Harbor Vacant Lot Sales Summary
Ocean Shores – 136 Lots sold
Montesano – 53 Lots sold
Westport – 10 Lots sold
Hoquiam – 10 Lots sold
Elma – 9 Lots sold
Aberdeen – 7 Lots sold
Copalis Beach – 7 Lots sold
McCleary – 7 Lots sold
Pacific Beach – 7 Lots sold

Check out property listings from your smart phone here!

Washington Coastal Community Comparisons
Residential sales on Washington’s coast were down for the most part. Some areas were actually up though. Below is a comparison of the four major coastal areas.

Ocean Shores / Ocean City
* 171 Homes sold in 2011 for an average sales price of $143,482. Total volume was $24,535,361.
* 181 Homes sold in 2010 for an average sales price of $169,776. Total volume was $30,726,526.
* 184 Homes sold in 2009 for an average sales price of $172,641. Total volume was $31,765,961.

Westport / Grayland
* 62 Homes sold in 2011 for an average sales price of $126,160. Total volume was $7,821,944.
* 42 Homes sold in 2010 for an average sales price of $133,945. Total volume was $5,625,700.
* 29 Homes sold in 2009 for an average sales price of $173,594. Total volume was $5,034,237.

Seabrook / Copalis Beach / Moclips / Pacific Beach
* 34 Homes sold in 2011 for an average sales price of $269,781. Total volume was $9,172,538.
* 23 Homes sold in 2010 for an average sales price of $273,591. Total volume was $6,292,590.
* 27 Homes sold in 2009 for an average sales price of $253,987. Total volume was $6,857,650.

Long Beach / Ocean Park
* 133 Homes sold in 2011 for an average sales price of $149,703. Total volume was $19,910,500.
* 150 Homes sold in 2010 for an average sales price of $161,531. Total volume was $24,229,648.
* 145 Homes sold in 2009 for an average sales price of $171,855. Total volume was $24,919,005.

I Moved
On a personal note, I’ve gone green and joined most of my fellow agents/brokers from Coldwell Banker and I’m now at the John L. Scott office conveniently located right next to McDonalds in the heart of downtown. I’m pretty darn excited about this move as most people like the John L. Scott corporate website much better than the old one. John L. Scott now is the top-producing brokerage in Ocean Shores with the most brokers, listings and sales. Thanks!

Website Updates
Also, do me a favor and check out the updated www.cityofoceanshores.com website (I’ve made lots of changes/additions) and let me know if you have any comments. Thanks!

Click the sign for something to do every day in Ocean Shores & Grays Harbor!

Upcoming Things to Do in Ocean Shores

Razor Clam Dig

Friday, January 20 - Saturday, January 21

The evening low tide on Friday is at 4:28 p.m. and on Saturday at 5:17 p.m. It's best to hit the beach an hour or two before low tide for best results.

Antique & Collectible Show

Saturday, February 11 - Sunday, February 12th

Join us along with over 60 vendors for Valentine's Day weekend!

Beachcombers Fun Fair

Saturday, March 3 - Sunday, March 4

25th Annual event featuring exhibits, seminars, info booths & vendors.

Razor Clam Festival & Chowder Cook-Off

Saturday, March 24

The event features a pancake breakfast, artisan marketplace, kid's activities, entertainment, dancing, Clam Chowder cook-off & more.

Life's @ the Beach!

Jeff Daniel
Managing Broker

John L. Scott Ocean Shores

Cell Phone: 360.581.9020
711 Point Brown Ave NW

Ocean Shores, WA 98569

360.289.2454 (fax)

This message (including attachment if any) is confidential and may be privileged. If you have received this message by mistake please notify the sender by return e-mail and delete this message from your system. Any unauthorized use or dissemination of this message in whole or in part is strictly prohibited.

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Cityofoceanshores.com Newsletter ~ 11.2008

Wintertime Storm Watching
Vertical rain, 70 mph wind and 30-foot swells don't sound much like visitor attractions, but Washington coast storm watching is the thing to do out here on the beach during the winter months. Dozens of ferocious storms typically batter the coast between November and March. January and February traditionally deliver the most wicked weather. The wintertime storms in Ocean Shores are awesome to watch and experience. Watching Mother Nature do her thing is truly a spectacular site. If you can, make your way down to the North Jetty next time we get a good winter storm. The power and impact of the large waves crashing against the jetty wall and spaying inland is truly something exciting to see. This is really one of my favorite times of the year out here on the beach.

Remembering the '07 Storm
One year ago this month, Grays Harbor County and Ocean Shores were battered with a monster storm that over the course of two days, spread devastation that was unmatched since the Columbus Day Storm of 1962.
The storm started with a bang Sunday night during the first week of December last year when fierce winds kicked up. The winds blew from 40 mph to over 60 mph. Individual gusts hit 100 mph, according to the National Weather Service. The winds actually got stronger from Sunday to Monday before finally tapering off. Ocean Shores was without power for nearly five days. Thankfully, no one was hurt, but a few houses at the south end of town got a little wet.

During last December's storm, I received numerous emails from people who were concerned about the status of their houses here in Ocean Shores. My internet was up and I was able to update my websites and various blogs with storm updates and pictures. I was also able to check out their properties and let them know that their houses were fine. So you know, please feel free to contact me to check on your properties as well next time we have another big storm. It was no problem at all.

But, if you live here, there's a couple things to be aware of in case we lose the power for more than just a few hours:
1. If you're going to have a residence in Ocean Shores, you need a gas powered generator.
2. If you have a generator, make sure you have at least 10 gallons of gas at home. The gas stations here can't pump gas without power so you'll need to count on yourself.3. Qwest is my telephone and internet provider. Qwest didn't lose service at all during last years storm. If you have telephone or internet through the cable company, you'll have nothing because the local cable company goes down as the power goes down.
4. If you don't have satellite for your television, you won't be able to watch the news or whatever. If you have cable, you'll have nothing because the local cable company goes down as the power goes down. I have service with the Dish Network and we were able to watch television like all was well.

Real Estate Forecast
I'm usually not one for predictions, but I'm still confident in what I was telling people last winter and that is that it's going to take 18 months before this market turns positive again. A new president, the ending of a war, new optimism and more. This renewed sense of optimism will lead to hope which will lead to consumer spending. That must be a Yoda line or something. Once this happens, it's good times again. No one could've predicted the mess the country is in right now and of course the trickle down effect has taken it's toll on this market as well. That being said, the Ocean Shores real estate market will bounce back vigorously in June and not long after, home builders in Ocean Shores will be back to raising their prices and values will be on the rise once again. Now is the time to buy.~
Overall, prices seem to be hitting the bottom now with the exception of a few foreclosures here and there polluting our inventory of homes at the beach. If we haven't bottomed out yet, the moment is certainly getting closer.
Rates on 30-year fixed-rate mortgages are at 5 percent now, and last week there were suggestions that the federal government might try to drive them down to 4.5 percent, a truly incredible figure to be able to lock in for three decades. Low inventory, low prices and cheap money are all in play assuming you've got great credit, steady income and a down payment... just like the old days when those who could afford to buy a house did and those who couldn't, didn't... Anyway, when this crisis has ended and housing prices are up again, will you look in the mirror and realize that you missed out on this golden opportunity to get in cheap? Or, will you NOT be kicking yourself because you took advantage of what is likely to turn out to be the buying opportunity of a lifetime...

Upcoming Events
Clam Digging!
Time to go, another clam dig is on, set for this coming weekend.Four evening digs are scheduled at Copalis and Mocrocks Dec. 11-14. Digging will be restricted to the hours between noon and midnight.

Dates, times and open beaches are:
Thursday, Dec. 11 (5:23 p.m. -1.1 ft.) Copalis, Mocrocks.
Friday, Dec. 12 (6:13 p.m. -1.5 ft.) Long Beach, Twin Harbors, Copalis, Mocrocks.
Saturday, Dec. 13 (7:02 p.m. -1.6 ft.) Long Beach, Twin Harbors, Copalis, Mocrocks.
Sunday, Dec. 14 (7:50 p.m. -1.4 ft.) Long Beach, Twin Harbors, Copalis, Mocrocks.

Further digs are tentatively scheduled for Jan. 8-11 and Feb. 6-8.A license is required for anyone age 15 or older. Any 2008 annual shellfish/seaweed license or combination fishing license is valid. Another option is a razor-clam only license available in annual or three-day only versions. Descriptions of the various licensing options are available on the Wildlife Department website at fishhunt.dfw.wa.gov. Clam diggers are not required to display their licenses on outer clothing.
Copalis Beach, which extends from the Grays Harbor north jetty to the Copalis River, and includes the Copalis, Ocean Shores, Oyhut, Ocean City and Copalis areas.
Mocrocks Beach, which extends from the Copalis River to the southern boundary of the Quinault Reservation near the Moclips River, including Iron Springs, Roosevelt Beach, Pacific Beach and Moclips.

North Beach Singers Christmas Cantata
December 12-13. The North Beach Singers present Yuletide favorites to bring in the holiday season. Admission is free.

Ocean Shores Antique & Collectible Show
Over 80 Booths of Antiques & Vintage CollectiblesFeb 14-15, 2009The 7th Annual Show at the Ocean Shores Convention Center. Over eighty booths offering a wide variety of antiques including dolls, glass, furniture, American Art pottery, and much, much more. Last year's event raised $4,235.90 for the Ocean Shores Food Bank and the SeaPal Quilters for their quilt guild charities. For a small donation to local charities and nonprofits, you can have your treasures evaluated. Hourly Door Prizes.

News
The Aberdeen Daily World recently published an interesting story about the mayor of Ocean Shores titled "Ocean Shores mayor tops list of officials' pay." The article reports that "Ocean Shores Mayor Dean Bunkers is the highest paid elected official on the Twin Harbors, a Daily World analysis of government salaries shows. With an annual salary of $99,600, Bunkers makes more than twice what a state senator receives, nearly nine times what Aberdeen Mayor Bill Simpson makes and 80 times what Oakville Mayor Mitchell Smith takes in. In fact, The Daily World found he's the eleventh highest paid mayor in the state." Mayor Bunkers gets paid more for being mayor of Ocean Shores more than the mayors of Mount Vernon, Lynnwood, Tacoma, Marysville, Issaquah, Tukwila, Anacortes, Wenatchee and Bainbridge Island. Who said there was no high paying jobs in Grays Harbor County?

Happy Holidays!

Jeff Daniel
Associate Broker
Coldwell Banker Ocean Beach Properties
749 Point Brown Ave NW/PMB 1568, Ocean Shores, WA 98569
1.360.581.9020 (cell) - 1.888.469.3100 (toll free) - 1.360.289.3111 (fax)
PROPERTY SEARCH: http://cityofoceanshores.postlets.com/
PROPERTY SEARCH: http://www.coldwellbanker.com/local/jeffdaniel
OCEAN SHORES INFO: http://www.cityofoceanshores.com
OCEAN SHORES BLOG: http://oceanshoresrealestate.blogspot.com
OCEAN SHORES BLOG: http://activerain.com/jeffgdaniel

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