LETTER TO THE EDITOR | Real estate market isn’t as bad as fire chief made out

Editor, I read the article about South Whidbey Fire/EMS selling some unused land. I have no comment on the price or pending sale of that property, as the fire district is dealing with a very competent real estate agent who is giving competent advice. However, the last couple paragraphs of the newspaper article stated that Chief Rusty Palmer and the commissioners think that it could take “several more decades” for that land to be worth what the district paid for it in 2001.

Editor,

I read the article about South Whidbey Fire/EMS selling some unused land. I have no comment on the price or pending sale of that property, as the fire district is dealing with a very competent real estate agent who is giving competent advice.

However, the last couple paragraphs of the newspaper article stated that Chief Rusty Palmer and the commissioners think that it could take “several more decades” for that land to be worth what the district paid for it in 2001.

Palmer states, “If you’re willing to wait 30, 40, 50 years, it might get back up there.”

C’mon, let’s not be so pessimistic. It won’t take 30, 40, 50 years for real estate investments to “get back.” This kind of reminds me a little of gloomy Eeyore in Winnie the Pooh.

Our spring real estate market on Whidbey Island has been great. Don’t let anyone tell you it’s going to take 30, 40, 50 years to recapture what you paid for your land or home if you purchased it near the “peak” market years.

It is true that land sales are down this year so far over the first five months from 2013, but five months does not make a year.

The great news this spring is the housing market. Our Whidbey Island residential home sales are already beating the pace of 2013, and the average selling price is higher than the average sales prices of January through May, 2013.

From the Northwest Multiple Listing Association database:

— 2013, January through May = 317 residences sold, average sales price $268,788.

— 2014, January through May = 359 residences sold, average sales price $287,810.

This is such great news that Island County is even opening their government offices back to five days a week as of this month. Real estate sales bring in real estate excise taxes, which Washington counties/state/cities depend on.

We’re really seeing a healthy real estate market today, where buyers and sellers are on a pretty level playing field, and for the first time in years.

LEANNE FINLAY

Freeland