Great homes, lots of them, at very, very good prices. Interest rates that are compelling. A location that many creative and fascinating people dream of one day living. Bank-owned bargains peppering the mix.
So, to buy now or wait?
For those who have counted down the years to retirement, and now are in a position to live their dream of Island life on Whidbey, the fall in local real estate prices for the choice mid- and upper-end homes they seek has helped to soften the hit many investment portfolios have take over the past few years.
Savvy and still-youthful seniors have made my work a joy. Knowing good value when they see it, and delighted that the bubble that spiked prices upward in '05 & '06 burst along with the national housing trends, retiring singles and couples are picking up view homes, small hobby farms, custom built estates and choice parcels of view property at at least 25% markdowns. Some have snapped up places for even less than that, but all seem to be very happy with their new homes.
Economists have long noted that those who wait for the bottom of the market rarely achieve their goal, as they typically can't react quickly enough, especially in imperfect markets, where there are so many variables, like real estate. Naturally, no one wants to make an imprudent investment, but unlike shares of coffee or steel companies, homes offer use and enjoyment. I've been thankful that my clients have a longer term perspective, and while wanting to make their best buy, don't want to wait to enjoy Whidbey's beaches, trails, community life and small town pleasures.
So, come visit and take a look around. Give me a call and I'm always happy to educate you about our different communities, amazingly varied landscapes and why I am happy every day that I live on this spectacular Island.