During the ‘crazy years’ from about ‘04 to ‘08, it was rare for appraisals to come in lower than the contracted sales price. The buyer’s lender’s appraised value simply was the sales price.

According to the most recent Northwest Multiple Listing Service statistics for all NWMLS counties: “For homes and condominiums sold last month, median closed prices were down 10 percent from a year ago. Single family homes ... off 8 percent ... Condo prices down more than 17 percent.”

Brokers who still remain in the business are working hard to refine their bedside manners in the art of delivering bad news. Knowing what a seller paid, owes or is otherwise indebted makes it a difficult task to give the prognosis that no seller wants to hear.

“That’s stupid! That’s just a stupid offer!” Looking back, it seemed like he levitated from his surly slouch.

Last Thursday and again on Monday, Chicken Little was out squawking again, “The sky is falling!” as the stock market took big tumbles. By the time this goes to press, the sky may be resting in the toilet... or not.

In June, Snohomish County homeowners received their 2012 Property Tax valuations; few are pleased. The value of taxable property in Snohomish County dropped by more than $8 billion from last year – a nearly 9 percent drop in the tax base.

Residential purchases by investors and buyers alike are on the rise, coming out of winter’s sluggish sales. Yet many qualified potential homeowners are holding back. Why purchase a home now?

Residential real estate sales is a unique profession. We enter into so many facets of your personal lives; your bedrooms, your housekeeping (or lack thereof) your financials and often an uncomfortable proximity to the state of your marriages. Listing a home is a short partnership between brokers and sellers.

The answer to “How’s the market these days?” is answered with a question: “From whose perspective?”

In Snohomish County this last two years has been a long winning streak for homebuyers. Yet some high, closed sold prices occasionally surprise us.

The advances in technology over this last generation are unbelievable, especially to old eyes. In real estate, we’re also constantly trying to improve our technology.

It doesn’t seem so long ago that exasperated real estate brokers would say, “Why, I remember when we used to sign one-page deals on the hood of my car!” (A builder said he once wrote up a sale on a house shingle.)

We all bemoan it, but give into it fully each year. The following thoughts are not intended to Scrooge that away, but possibly enhance the meaning – just a bit.

…For you as the seller? None. But there is a potential benefit derived from an overpriced listing to your listing broker.

Negotiating in real estate is an art. Many contracts (currently most) were created from offers that were miles apart at the start.

I alluded last month to the fact that in April, 30 percent of home sales in Mukilteo were short sale or bank-owned transactions. These sales are being seen not just in the lower price ranges but in those where one might not typically expect to see them. Recently, when comparing homes of a certain type, I noticed an interesting pattern. Priced at the lower end were bank owned and short sale properties. At the higher end were some extremely nice homes that sell for significantly more. There wasn't much in between.

I thought about quoting the Doors song, “The End” as my intro for this column, since I think many industry observers and participants may have concerns about what will happen to the real estate market now that the April 30 qualifying deadline for the Home Buyer Tax Credit has ended.

Certainly we’ve all read the headlines regarding the national real estate market. We’ve also all heard the old saw that “all real estate is local.” The purpose of this column is to help Mukilteans understand what those headlines mean for us here in Mukilteo. This column will analyze the local data to illustrate what is really happening in our market.

By now, most readers are familiar with the First Time Homebuyer’s Credit that was available in 2009. This credit was extended back in November to make an $8,000 tax credit available through April to those who have not owned a home in the last three years.