Coldwell Banker Names Jim Reppond Recipient of Coveted Presidents Premier Award

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RISMEDIA, Feb. 8, 2007-Jim Reppond, Seattle's top Coldwell Banker agent, was awarded CB's top award, the Presidents Premier Award. This is the second year in a row that Jim Reppond and the Reppond team has won this coveted award. Jim attributed the award to exemplary client service and a Strong Seattle Real Estate Market, stating Seattle was the Bubble that never happened.

While some markets in the US are suffering from lagging sales and even sometimes declining prices, Seattle Real Estate still keeps chugging along. The median sales price for a single family home in Seattle was $425,000 in November, up 13% from a year earlier with Seattle Condos showing similar gains. And while the pace of appreciation may be slowing down a bit, prices are still going up.

There are a number of factors that have contributed to this bright spot in the market. While many markets saw sky-high appreciation rates of 20-40% annually over the last few years, Seattle's market kept it's pace to a more manageable 15-20%. While this is still a healthy clip, it didn't run up so high that it was unsustainable.

Another factor is the healthy diverse local economy. With such companies as Boeing, Microsoft, Nordstrom, Costco, and Starbucks in and around the city, employment has been brisk and salaries have been climbing steadily.

And while much of the country has seen harsh weather conditions, Seattle's mild and moderate climate has increased its appeal, even with the infamous rain. Southern California has been plagued with fires and fierce heat, while Katrina has soured people on the southeast. The northwest seems to only have mild storms. The most recent windstorms in the Seattle area are about as bad as it gets. And even then things were pretty much back to normal in just a few days.

The city of Seattle is in a unique geographic position. Surrounded by water with no place to expand, new construction opportunities are extremely limited and consist of mostly concentrated urban growth. This limited supply of inventory contributes to the upward pressure on housing prices as more and more people compete for fewer properties.

It's clear from the recent comments economists have been making that even in the more hard-hit locations around the country, real estate price corrections appear to be about over. "The future looks even better for Seattle as high-tech firms clamor for well-qualified personnel and wages are on the rise. This along with a 4% unemployment rate and the predicted strong economic growth means Seattle Real Estate is poised for continued appreciation for the foreseeable future."

For more information, visit www.coldwellbanker.com.

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