A recent video report on the CDPE network interviewing RealtyTrac executive Rick Sharga identified several key factors driving the current foreclosure and distressed property market:

Since 2006, the defaults greater than 90 days have occurred faster than the rate that foreclosures have been initiated, the result being that the number of foreclosures in the pipeline has been building for a long time. It is estimated that more than 7 million properties are in default or foreclosure.

State’s attorneys general, the state courts and federal regulators have pushed to delay foreclosures until documentation problems can be resolved. The number of completed foreclosures has fallen as a result of documentation problems, but this is not a sign that the backlog is clearing. read more »

When the real estate market was taking a dive two or three years ago, the commercial market was holding its own. But now that things are picking up in the home sales department, commercial is once again lagging behind — this time, in recovery. As empty storefronts and offices remain as a reminder that the economy’s far from being back on track, commercial property owners, just like residential homeowners, are having to downgrade their expectations. Lease rates have come down dramatically in some cases, but it’s still not enough to entice a lot of businesses to move in. read more »

The national turmoil in the economy, job market, politics and other factors has been unkind to the real estate market for a fourth year in a row. Some aspects are picking up and homes are selling better than before — there’s even multiple offers in some cases — but the real estate brokers’ feelings are mixed. Some believe the market’s bottoming read more »

Hundreds of real estate brokers have left the business in the past three years as the business became tougher and tougher. But many local Realtors not only held tight for this ride, they’ve done it several times before.

We spoke with a few local veterans who have been in the industry for three decades or longer and asked them why they still like their jobs.

Georg Syvertsen, managing broker with Coldwell Banker McKenzie on Bainbridge Island, started out in sales when he was young. He stumbled into real estate after getting tired of bouncing from one location to another around the country following a corporate career. read more »

If you are a home seller, you undoubtedly want to get your home sold at the best price in a time frame that meets your individual needs best. As such, one of the most important things you can do to get your home sold is to have it staged. Staging highlights your home’s best features and helps to minimize any drawbacks. It allows potential buyers to visualize themselves in your home without distraction. read more »

BCB: For the past three years, we’ve been working together on an ambitious project to develop and implement LID Standards in Kitsap County and the four cities within the County. You’ve been doing a fabulous job taking the document we developed out to the jurisdictions for adoption, and now, with Port Orchard’s adoption, all five have done so. It’s been quite a marathon. Do you think it was worth it, and what’s the most exciting aspect of completing this project?

ART: There were some challenges. As you know, I had a very aggressive timeline in mind when we started. So I’m glad we are finally here with this last piece of the puzzle falling into place. read more »

Rice Fergus Miller Architecture and Planning has hired designer Sneh Sharma. She is a LEED AP with experience in medical planning and design. Her project experience varies from renovations to large replacement hospitals and campus planning. Beyond traditional architectural services, she has experience in programming, sustainability practices, master planning and design research.

Sharma has a Master of Architecture with a Certificate in Health Systems and Design. The certificate focuses on evidence-based health facility planning and design. read more »

The tables have turned on the real estate market from a few years ago, when homes were flying off the market within hours of being listed, and sellers held the reigns. These days, the buyers are the ones who are discriminating, and what they’re looking for, according to local real estate agents, is both the best buy for their money and turn-key homes.

“Buyers have one common theme, and that is, they want the prettiest house, the best price and the best location,” says Sonny Woodward with the Kingston office of John L. Scott Real Estate. “…The house that’s spiffed and in good condition will get the best attention.” read more »

Washington state residents have new incentives for investing into solar power on residential, commercial and public buildings — and according to one Poulsbo company, the idea is bound to catch on quickly.

Washington Legislature’s first step was Senate Bill 5101 in 2005 that created an incentive program for solar-array owners to get paid for the power they produce. That was followed last year by ESSB 6170 that increased the annual cap from $2,000 to $5,000. It also created a model for Community Solar Projects (CSPs) to help public facilities receive solar installations. The bill’s goal is to boost solar and alternative energy manufacturing in the state. read more »