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Duvall Commercial and Residential Update for end of Feb. 2009

Well, I didn't report on things last week. There just wasn't much to report on.

This week has shown some good activity.  End of month and better weather mean an up-tick in real estate activity.

On the commercial, side, little has changed.  A new building went up for sale in downtown. The business closed down.  I have to admit to not even realizing the business was ever open until a few months ago... I guess that is why it closed.  There is a lot of space for lease right now, and more coming up, I'm sure.  Still, little of it is listed with any agents.  Not sure how folks expect to get the word out.  They don't post them in Craigslist either.  I gotta make more calls!  Anyone looking for space should be able to make some good deals.  In fact, the local CCIM chapter is getting ready to have a luncheon on that subject, and thoughts around tenant retention.

On a side note, the local businesses and the city are hosting a Constructon Carnival downtown on the 14th of March.  That would be a good day to hold open houses in the downtown area, for both residential and commercial. Here is a link to the flyer: http://www.duvallwa.gov/mainstreet_08/construction_carnival.pdf

Between the economy and the construction on main street, its pretty tough on local businesses.  Several have closed down as I've mentioned before.  I feel a little mean for saying it, but in many cases its not been surprising.  Some businesses scrape buy in good economic times... so you can't expect them to thrive during bad times.  (Same can be said for real estate agents... many barely survived/made a living when the industry was 'hot'... the current environment is sure weeding out the riffraff from the industry.)

So, what about residential?

Things are looking better there.  3 solds and 2 pendings in just the last few days.  There were also several price reductions and quite a few new listings also.  Mixed in were some expired and cancelled listings also.

We should have another closing at Cherry Hill Vista in the next couple of days, also.

Still relatively few foreclosures and short sales in the immediate area.  One new listing is a bank-owned hom on over 9 acres. Looks nice but the listing info suggests there might be some permitting/code issues (probably remodeled or added-on to without permits/inspections).

Anyway, for the immediate area, things are looking up.

This is an excerpt from an article on our company website. You can find more posts at http://tellusre.com/feed/

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Jason Hershey, Designated Broker
Tellus Real Estate Solutions, LLC
PO Box 1113
Duvall, WA 98019
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Comment balloon 0 commentsJason Hershey • February 28 2009 05:41PM

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