About the Port Angeles Real Estate Market I believe that an informed buyer or seller makes better decisions. That's why I spend a lot of time drilling down into the information to provide meaningful statistics about the current market. From time to time I will revise the information on this page with new data. In 2002: - Almost twice as many homes sold over $250,000 than in 2001 - The highest priced sale in 2001 was $345,000. In 2002 it was over $600,000 - The hottest price range was $110,000 to $140,000 - Homes under $100,000 that were in good condition sold fairly quickly in a market desperate for rentals - Inventory is down at least 15%, and 2001 was down, too - Yes, interest rates made a big difference. Don't underestimate the importance of the weather, however, in a fall market that just wouldn't quit. We had our very best December ever.   |  | | |
 Overall, sales in 2002 were fantastic. They spread across the board in different price ranges. By the end of January, I should add a report on 'Where Buyers Are Coming From.'
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Accepting An Offer >Low Offers
In every real estate market, there are buyers who make offers that are far below the current market value of the property. How should you react if your agent brings you one of these "low ball" offers? Here are some scenarios for the seller.
If your home is priced very close to its fair market value, you can simply reject the offer and be reasonably confident that a better one will appear. However, if you have priced your home higher than other comparable homes in the neighborhood, the offer may not be unreasonable.
Ask your real estate agent for advice about the buyer's overall strategy. Do they really want your house or will they move on to another property if you make a counter offer? Can they afford to pay a higher price? Are there ways to close the gap with a small owner take-back, or with terms that will increase your bottom line? Take a hard look at your asking price and explore all your options before saying "no", especially if you are selling in a buyer's market.
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What private residence is considered the most expensive house ever built?
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The William Randolph Hearst Ranch in San Simeon, California cost over $30 million, equivalent today to $276,883,320. Bill Gates recently built a home for over $40 million.
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