The Seattle PI reports from Washington. "Walking through a Georgetown house for sale in August, Jelena Senour said she was just looking. 'I'm not comfortable buying at this point, with some of the prices (sellers) are putting out there,' she said. 'I'm not going to take their fall.' Buyers' reticence and difficulties getting a loan, or at least one with a desirable rate, are obvious in August statistics the Northwest MLS released Monday."

"Seattle's closed sales were down nearly 11 percent from August 2006, the first yearly drop since February and the largest since October. That was better than the 19 percent drop in King County as a whole and the 17 percent decline across the 19 counties the listing service covers statewide."

"Pending sales, which can be a better indicator of recent activity, were down 17 percent in Seattle and 23 percent in King County and the 19 counties as a whole. The number of homes for sale, meanwhile, shot up about 50 percent in Seattle and King County, and 46 percent in Western Washington."

"Ira Sacharoff, a Skyline Properties agent, said he was the only one of 13 agents in a recent class who thought area prices would drop. 'In the real estate industry you've got a bunch of cheerleaders who don't like to face reality,' he said. 'I'm in the minority.'"

The Seattle Times. "'Sales are occurring, but closing is taking longer than usual,' said Jake Jacobsen, managing broker in downtown Seattle.. 'Our lenders are being somewhat more cautious.'"

"Jacobsen said...sellers should ensure their homes are priced properly. 'This is not the time to put a price on a property and see if it's going to work,' Jacobsen said."

"Sellers trying to jump in while prices are still high have pushed up the number of homes for sale, said Glenn Crellin, director of the Washington Center for Real Estate Research at Washington State University."

"That means buyers have an edge. 'We do have buyers looking for bargains,' Crellin said. 'They have an opportunity to do more negotiating.'"

The News Tribune. "Sales activity in Pierce County, and around the Puget Sound area, looked much like it has for months: More homes for sale with fewer pending and closed sales compared with the same month last year."

"Pierce County’s housing market appreciation in August continued to rebound from a June low. Real estate agent Bob Niehl said the apparent contradiction between rising prices and sluggish sales can be attributed to the best houses selling at the best prices."

"And some sellers who see the state of today’s market are sitting it out, he said. 'A lot of sellers are looking at this and think, why take a beating? If you don’t have to sell, why sell now?' Niehl said."

"Some pockets saw inventories beyond the six-month mark that indicate the difference between a seller’s and buyer’s market. Gig Harbor’s inventory grew to 9.6 months, the Parkland/Spanaway area was at nine months and the Bonney Lake area had seven months of inventory in August, said Dick Beeson, a MLS director and Windermere broker."

"Thurston County’s median-price drop can be attributed, he said, to a lack of diversity in the mix of homes – very few condos and lots of new construction."

The Olympian. "Last month, 439 houses and condominiums sold in Thurston County, down from 522 sold for the same period last year, the data show. Meanwhile, inventory levels continued to rise for both houses and condos, up 20 percent to more than 2,400 units."

"It...is a different market from last year, said real estate agent Ted Leland. 'It's definitely a buyer's market all the way,' he said."

"Home seller Anna Kitner of Lacey is just glad to get an offer on her home. Kitner is selling an 800-square-foot house that occupies a 12,000-square-foot lot with seven pear trees."

"After listing her home on July 16, Kitner didn't receive her first offer until this month. By then she had cut the price by $10,000 to $190,000. 'It was stressful because the market is so slow right now,' she said."

The Columbian. "With new home sales in Clark County down this year by a stunning 44.4 percent from 2006, home builders are finding creative ways to unload inventory."

"'At this point, every builder in Clark County is giving something away,' said Michael Shanaberger, director of sales and marketing for Manor Homes, a Vancouver builder."

"Through July, only 718 new home sales were filed at the Clark County Court House compared with 1,192 in the same period a year ago, reports a service of Riley & Marks appraisers."

"'Our sales have held steady. If we weren't giving anything away, we wouldn't be selling any houses at all,' Shanaberger said."

"Prices appear to be slipping as sellers make concessions. The median price of a new home sold in Clark County was $296,000 in July, down 8.8 percent from the median price of $324,420 for a new home in July 2006."

"The figures suggest that Clark County is a buyer's market, said Joe Keizur, public relations director of Vancouver-based Pacific Lifestyle Homes. His company is offering discounts of up to $15,000 on new homes, along with extras with the purchase of a home."

"'Most builders are offering discounts on prices now,' depending on how many speculative homes the builder has on the market, Keizur said. 'With everyone competing, it ultimately means great prices for customers.'"

"Industry experts say builders carrying a glut of higher-priced inventory here are particularly vulnerable to the national housing market slowdown. Those developers are counting on out-of-town buyers, said Travis Maley, a Realtor in Vancouver."

"Without subprime lending, 'Many of the people who want to move here can't sell their homes in California and other markets,' Maley said."

"Slumping sales elsewhere mean the supply of high-end homes on the Clark County market continues to swell, Maley said. At last count, he tracked more than 190 homes priced between $400,000 and $700,000 listed in Washougal and Camas and 291 homes in that price range and higher in Battle Ground, Hockinson and Brush Prairie."

"'Who are the buyers? Not many of them are coming from our local area,' Maley said."

"Real estate experts say the ample supply of homes on the market means sellers of existing homes need to think realistically when setting their price. 'When the market is headed down, you will get behind it if you overprice your house,' said Scott Mikel, a Vancouver broker."

"Real estate expert Terrie Cox said she sees sellers that are more anxious to work with potential buyers. 'The difference is, two years ago, buyers had to act quickly if they wanted a house, because we usually had multiple offers bidding for the home. Today, buyers are asking for more and offering less,' said Cox, a Realtor in Vancouver."

"She advises sellers to give in if it means saving the sale. She also counsels sellers to take a hard look at the home they're trying to market."

"'If you're not in a prime location, you're a poor decorator and you're trying to get the maximum price for your house, you've got a problem,' Cox said, 'and you're going to sit on the market for a very long time.'"

The Herald Net. "The number of homes listed for sale in Snohomish County mushroomed in August amid slow sales. There were almost 63 percent more single-family houses and condominiums on the market last month than a year ago, according to the Northwest MLS figures. Sales dropped 25 percent compared with the previous year."

"For the year, single-family home sales in Snohomish County lag behind last year's totals with 7,733 closings reported in 2007 compared with 9,636 in 2006. There were 6,841 homes and condos on sale in Snohomish County at the end of August."

"And that isn't bad news if you're in the market to buy. 'I think it's a great buyers' market,' said Nathan Gorton, with the Snohomish County-Camano Island Association of Realtors."

"In Island County, the number of houses and condos for sale went up 27 percent, and pending sales were down 25 percent."

The Bellingham Herald. "According to the Northwest MLS, 319 single-family homes sold in Whatcom County in August, up 4.6 percent compared with the same period last year. In July, sales in Whatcom County were up 6.8 percent compared with a year earlier."

"One concern I have is that pending sales are down significantly, so that’s something worth watching in the coming months. These (August) home sales were being finalized before the national credit issues began surfacing,' said Lylene Johnson of The Muljat Group’s South Side office. Johnson analyzes MLS data for Whatcom County."

"There were 169 Whatcom County foreclosure filings in the first half of 2007, up from 84 in the same period in 2006, according to Realtytrac Inc. Last quarter, when there were 90 filings in Whatcom County."

"Also at the mid-year point, a study by Coldwell Banker Miller-Arnason showed the number of high-end homes sold — priced at more than $700,000 — are ahead of last year’s pace."

"'I remember there were people frustrated that they couldn’t find a home in the city that fit their needs a year or two ago,' Johnson said. 'There is much more supply out there now.'"