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Monday, January 30, 2006

Bainbridge Realtor Predicts "Even Sharper Rise"

As if to offset the words of a local economist in a separate story by the same reporter, here come the predictions of a realtor on what 2006 holds for Bainbridge Island real estate:

While the national housing market is showing signs of slowing down after a fast-paced year, the Bainbridge market is still picking up speed.

"I expect the market to be strong in '06," said Lois Boubong, a realtor at Prudential's Winslow office, who recently completed an analysis of the island's housing market. "No bubble is going to burst anytime soon."

The average housing price on the island rose 14 percent last year, with the median price increasing by 22 percent, Boubong reported.

Homeowners and buyers can expect more of the same this year – or an even sharper rise. It's good news for home sellers, but could make for grim house hunting, especially for renters and middle- and lower-income buyers.

"You can never predict the future, but if the economy continues to stay strong – and we think it will – we'll continue to see a rise in prices," Boubong said.
Because realtors are definitely unbiased market observers. You really have to love how many stories out there quote these guys as if their word is gospel. But then again, who else is really going to have a good feel for the market if not realtors? Realtors and economists are about the only "authorities" that are really available out there on the topic, and they each have their own slant they want to put on things. The trick is in trying to read between the lines, I suppose.

(Tristan Baurick, Bainbridge Island Review, 01.28.2006)

1 comment:

marin_explorer said...

I seriously doubt a continued pace in Bainbridge, if 2nd home/investor activity trails off. Given what I've heard about Californians flocking to BI, it's only a matter of time, despite realtor optimism.