There's good news and bad news in real estate

 
 

 

It didn't sound good when the Northwest Multiple Listing Service reported today that housing prices in King and Snohomish counties plunged by 16.5 percent in October from a year ago. The average price in King County fell to $370,000 while the average in Snohomish fell to $243,000.

Average prices were depressed in part by the high proportion of the sales (38 percent) that involved "distressed" properties. Bankers or other parties selling distressed properties typically accept lower than sellers would accept under nomal market conditions.

But there was also some bright news in the report. The number of houses on the market also plunged, dropping to 12,694, from 18,590 the year before. And the number of deals under contract rose to 3,995, from 3,162 the year before.

Inventories have to come down before housing prices start to firm again. What is still unclear is the level of "shadow" inventories, housing that could flood the market if credit conditions continue to deteriorate.

The 2016 Washington Manufacturing Awards: Legacy Award

The 2016 Washington Manufacturing Awards: Legacy Award

Winner: Belshaw Adamatic Bakery Group
| FROM THE PRINT EDITION |
 
 
 
Legacy Award
Belshaw Adamatic Bakery Group
Auburn › belshaw-adamatic.com
When it’s time to make doughnuts — or loaves of bread, or sheets of rolls — it could well be a Belshaw Adamatic piece of equipment that’s turning out the baked goods. From a 120,000-square-foot plant in Auburn, Belshaw Adamatic produces the ovens, fryers, conveyors and specialty equipment like jelly injectors used by wholesale and retail bakeries.
 
The firm’s two legacy companies — Belshaw started in 1923, Adamatic in 1962 — combined forces in 2007. Italy’s Ali Group North America is the parent.
 
It it takes work to maintain a legacy. A months-long strike in 2013 damaged morale and forced a leadership change. Frank Chandler was named president and CEO of Belshaw Adamatic in September 2013. The company has since strived to mend workplace relationships while also introducing a stream of new products, such as a convection oven, the BX Eco-touch, with energy saving features and steam injection that can be programmed for precise times in baking. The company energetically describes it as “an oven that saves time, reduces errors, makes an awesome product, and is fun to use and depend on every day!”
 
So far, more than 3,000 have been installed in quick-service restaurants, bakeries, cafés and supermarkets in the United States. They are the legacy of Thomas and Walter Belshaw, former builders of marine engines, who began producing patented manual and automated doughnut-making machines in Seattle 90 years ago. They sold thousands worldwide and, today, Belshaw Adamatic is the nation’s largest maker and distributor of doughnut-making equipment.