Brother still wanting to relocate to Sequim! (Seattle, Port Angeles: real estate market, foreclosures)

[luckyladylv]

Hi from Las Vegas!

My brother is still looking for property and just recently took a trip up there to check out some properties. Does anyone have any new info reference to the status of the real estate market up there? How is the foreclosure situation?

There is talk here in Vegas of a real estate correction. Anything like that there?

[Evlevo]

it is pronounced like "swim" with a "k"..."skwim".

(I run my own foreclosure business) Foreclosures are all over the place, but they have not exploded. Each county has 2-12 properties that end up being sold each week.

As for a market "correction", if there is one at all, it will be nothing like Vegas. Nobody really buys a vacation/retirement place in the greater Seattle area, so everyone that owns property lives here. Therefore, people may delay buying a house, but they really cannot avoid it. That means the market will slow down and maybe go flat, but it won't really drop.

In Vegas, people from all over the country were buying property to retire in, as a vacation place, or because they thought it was a good investment and those folks are a very soft market. That means that now that prices are sky-high and interest rates are up, alot of them are selling of "not-so-good-now" investments, or deciding not to buy in the first place.

My advice would be to dump your Vegas place ASAP, rent a place in Sequim for 6 months to get a feel for the area, and then buy a place through a realtor. I would not recommend buying a foreclosure to live in since they usually require 1-4 months of hard work to make them inhabitable again (I usually haul 1-4 TONS of garbage out of them before I can begin working on them). The ones that are "ready to move in" are also "ready to flip tommorrow" and will sell at a premium, (most buyers are investors) usually at a price not much below retail (and sometimes above it!). Also, foreclosures do not sell in high enough numbers (esp in Sequim) to really merit a look; it might take 3 months to find a house you like, and then it might still be on the wrong side of town.

[luckyladylv]

Thanks evlevo!

My brother just got back from Sequim and did not find what he wanted. He has a question that you might be able to answer.

What is the general differences between the Agnew area and the area along East Woodcock Road in central Sequim? Specifically, the weather?

[psprague]

Originally Posted by luckyladylv

Thanks evlevo!

My brother just got back from Sequim and did not find what he wanted. He has a question that you might be able to answer.

What is the general differences between the Agnew area and the area along East Woodcock Road in central Sequim? Specifically, the weather?

I dont think you will see much difference in the weather in locations that are only a few miles apart. You might see an inch or two either way but not something that would stand out as noticable as both locations are within the Big Blue Hole. To the west, the changes are dramatic though, for about every mile west of Port Angeles, it gains about an inch of annual rainfall.

An interesting map of rainfall patterens for Washington:

Rainfall Map

[luckyladylv]

This is a very good map to gauge annual rainfall data in certain areas of Washington. You mentioned the "Blue Hole". What areas in Sequim are within the "hole"? Specifically, what roads or boundaries?

Also, does anyone have any info on the benefit of having a "conventional" septic versus something else? My brother is looking to put a manufactured home on the land and would like any info regarding what he might be up against when trying to get the necessary approvals, etc.

Thanks!

[psprague]

Originally Posted by luckyladylv

This is a very good map to gauge annual rainfall data in certain areas of Washington. You mentioned the "Blue Hole". What areas in Sequim are within the "hole"? Specifically, what roads or boundaries?

Thanks!

Technically, the 'blue hole' is the result of down slope winds from the Olympic mountains. The prevailant winds are from the south west and push around and over the mountains. When the air is pushed up in Hoh and Queets river valleys, the air cools adiabaticly, loses its ability to retain moisture and forms clouds and generally rains alot. When the air decends, it warms and reabsorbs moisture; it will stop raining and may even clear up.

Its not really possible to plot out exact boundrys. On a nice day in the hole, it can be clear from the bases of the mountains south of sequim to san juan island and from port angeles to port townsend.

[AzDreamer]

Here a link to a rainfall map with a little more detail.

sequim.com/maps/rainfall.html

[edwardo]

Your brother will not have a choice in the type of septic system he has to install. The county will determine what is installed. Most of them seem to be "partial mound", "mound", or "pressurized". They can get spendy. If he needs a well I suggest Tillia well drillers. Would he consider PA for a home?

[psprague]

They have been talking about a sewer system in sequim valley for quite a while now too. Some wells are starting to show bacteria from septic systems. I dont think you get a choice about hooking up to it if it goes by your house and it is spendy.