January 29th we had our "kick-off" breakfast at Coldwell Banker.  We had two guest speakers.  Hart Hodges, professor of economics from WWU and Ron Sparks, GM for Coldwell Banker Bain in Bellevue.  Both have extraordinary credentials and are respected in their fields.

I have personally taken classes from Ron Sparks and have learned more from him than any other individual in the real estate game.  The man is simply amazing.  He is so logical, it is easy to accept and understand his message.

Both speakers agreed that we have FINALLY seen the bottom of the real estate free-fall.  Our local economy should stay stable this year with unemployment continuing to be a struggle through 2010.

However . . . . Sparks said that Bellingham has literally shadowed Seattle for decades with real estate trends and performances.  Bellingham has consistently remained 90 - 120 days behind Seattle.  In the past 3 weeks Seattle has seen an abrupt and surprising increase in activity AND actual sales.  The Bellevue office had 8 pendings over $1M in the past two weeks.  More than they have seen in the past 6 months.  Note: the Bellevue Office has been one of the nation's leading sales office for real estate and is number ONE for Coldwell Banker.

Sparks says the "perception" of the market is improving here, and the Pacific Northwest is poised to be the first region to start the recovery. With rates staying historically low, tax incentives, and the leaning out of inventory, people are finally seeing that NOW is the time to take advantage of this rare buying opportunity.  In fact, Sparks is worried about the market getting too hot again, too quickly.  

We here in Bellingham would welcome that problem.  I have the upmost respect for both speakers, and confidence in what Sparks had to share.  So I am gearing up for some serious activity in the coming months.