La Center, WA Again
Here are some further musings on the La Center, WA market. For background refer to the blog dated January 24, 2008.
Realtors, lenders, homeowners and others keep saying that the La Center market has crashed. I reviewed an appraisal of a house in La Center last week and the appraiser said the market was in decline.
Well, there is good news!!!!!!! Look at the following chart, and, AS ANY FOOL CAN PLAINLY SEE, the market has made a spectacular rebound. Ah, statistics. Remember the lesson about the “sick” man in the previous La Center discussion? And, in the January 24, 2008 blog I presented the graph in “Warning Red” background. However, in this presentation I have chosen an inviting “Money” green for your pleasure.
La Center, WA has made a spectacular recovery. It is setting records in market growth, rising from dead in the fall to way above its recent average in these winter months. (What was it about that “sick” man???)
Statistics are so useful. Especially when there is enough data to analyze and read sensible results. In La Center there is too little activity in a very small community to make use of such statistical numbers. The huge rise in the market in these winter months is the result of three sales. Not enough to create statistical analyses that you can hang your hat on.
So, as I said before, La Center is just slow at this time. At least that is the most you can say about it with authority. Looking at the sales data it appears there is still a market for the housing stock in La Center. There are “short sales” taking place. They are happening all over the county, not just La Center. I still think, as I said last fall, that we need to wait until April, and look at all the market activity to see if we can say the market is in the toilet or just flattened out. Remember, the recent past, with its high inflation and short marketing time of properties, conditioned us to expect that kind of activity. Those of us who have been around long enough know that the market will change from time to time. Inflation - correction - inflation - correction, etc.
La Center is ambling along at its own pace. When the short sales that are in process close, the market will appear to have dropped in value because of the lower prices (statistically speaking).
We’ll see in the spring.
Pacific West Appraisal Services, Inc.
pwas.net
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