Archive for the ‘Bellevue, WA’ Category
buyers markets in Seattle, buying an eastside home, Eastside real estate, interest rates, interest rates-June 2010, King County Real Estate, Seattle Eastside real estate, Seattle real estate, sellers markets in Seattle, selling an eastside home, Windermere Real Eastate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, real estate on August 13, 2010 at 7:40 am
King & Snohomish County Real Estate, 7-31-10
There were no sellers’ market in July. “Red” indicates a sellers’ market with homes selling in less than 3 months. If you look at the map above, all the Seattle markets are either a buyer’s market or a balanced market between buyers and sellers.
There’s a mix on Seattle’s eastside. Some markets are buyers’ markets such as West Bellevue and the Sammamish plateau cities of Sammamish, North Bend, Preston, and Fall City. Homes in these real estate markets took on average over 6 months to sell. The majority of Seattle Eastside real estate was a balanced market with homes selling between 3-6 months.
The state of the real estate market is a huge contrast from just three months ago when there was no “green” on the map at all.
- King Snohomish Counties Real Estate Market 4-30-10
Clearly, the tax credit did its magic during that time. Is it the economy, job situation or is it the lack of urgency with interest rates slated to be low for a long time that is keeping buyers from making a home purchase? I’ve heard opinions about all three reasons as the cause for the slow moving real estate market. What do you think?
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What do the numbers on the map mean?
The map is divided into the numbered areas as defined by our Northwest Multiple Listing Service (NWMLS). Downtown Bellevue is area 520 and East Bellevue is area 530, as an example.
What do the colors mean?
Red means it’s a sellers’ market, a sellers’ advantage.
Yellow means a balanced market between buyers and sellers.
Green means it’s a buyers’ market.
If you take each area as shown on the map and look to the area number on the side of the map, it will tell you how long it would take to sell every home currently for sale if no other home came up on the market in that area.
Bellevue WA condos, condo sales, Issaquah WA condos, Kirkland WA condos, Redmond WA condos, Sammamish WA condos, Seattle-eastside condo sales
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on August 12, 2010 at 1:29 pm
Seattle Eastside Condo Sales July 2010
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
July, 2010 1552 condos for sale 144 condos sold 9% odds of selling.
June, 2010 1487 condos for sale 131 (was 154) condos sold 9% (was 10) % odds of selling.
May, 2010 1425 condos for sale 117 (was 125) condos sold 8% (was 13%) odds of selling.*
July, 2009 1441 condos for sale 159 condos sold, 11% odds of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of condos sold and closed. Some of the sales originally reported last month failed and did not close. Some of the reasons sales fail are the buyer and seller don’t agree on the building inspection, the condo does not appraise for the sales price or the buyer’s financing does not come through.
Sales have clearly slowed down from April’s peak. This may be because many first time buyers rushed to buy a home while the tax credit was in place and not as many buyers are out there right now. It also could be because people are fearful of the future. It’s unfortunate as there are some good properties out there and great interest rates.
Bellevue Real Estate, Issaquah Real Estate, Redmond real estate, Sammamish real estate, Seattle Eastside real estate, Seattle real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, real estate on August 12, 2010 at 10:38 am
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How did July, 2009 stack up to July, 2010 in your neighborhood?
(Click on the cities below to see real estate trends for the past 5 years. You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down. The odds of selling a home in each area is a result of the number of homes for sale divided by the actual number of home sales.)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
The odds of selling a home were 12.5%.
Median sales price increased from $525,000 to $539,950.
The number of homes for sale increased by 2% and sales were down by 24% from last year.
West Redmond/East Bellevue
The odds of selling a home were 16%.
Median sales price dropped from $470,000 to $422,475.
The number of homes for sale increased by 8% and sales were down 27%.
South Bellevue/Issaquah
The odds of selling a home were 16.5%.
Median price decreased from $617,000 to $599,475.
The number of homes for sale dropped by 16% and sales were UP by 5%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 14%.
Median price dropped by 2%, from $460,000 to $449,950.
The number of homes for sale declined by 9% and sales were down by 13.5%.
Kirkland
The odds of selling a home were 15%.
Median price decreased to $549,900 from $599,000.
The number of homes for sale declined by 16.5% and sales were UP by 3%.
West Bellevue
The odds of selling a home were 11.5%.
Median pricing was UP from $950,000 to $1,299,000.
The number of homes for sale decreased by 24% and sales decreased by 31%.
Redmond/Education Hill/ Carnation
The odds of selling a home were 17%
Median pricing increased from $499,000 to $548,000.
The number of homes for sale increased by 1% and sales decreased by 5%.
Although real estate numbers are mostly down on Seattle’s eastside, 3 areas, similar to last month, showed an increase in median prices while the others all showed a reduction. Most likely, this was a result of more high end sales than seen previously this year. Many of the first time buyers bought because of the tax credit, so there are fewer first time home buyers making entry level purchases.
The high end real estate market is performing better than it was earlier this year. In July, West Bellevue had a 37% increase in the median pricing, a direct result of the homes that sold that month. This number greatly influenced the trend in the eastside showing the median pricing to increase in July. Median pricing is a function of the actual homes that sell during that particular month.
So I’d recommend not getting too excited if the median pricing went up this past month in your neighborhood. It will be important to see if the trend continues and it’s not just because more high end homes are selling.
The number of home sales were down in almost all of the Seattle eastside neighborhoods, which follows a typical pattern for summer when people choose to do other things, like go on vacation, than look for a home. Slower sales may also be impacted by the fear about jobs and the economy.
Bellevue Real Estate, Issaquah Real Estate, Kirkland real estate, Redmond real estate, Sammamish home sales, Seattle real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, financing, real estate on August 11, 2010 at 9:50 am
Seattle-Eastside Residential Real Estate Sales, July 2010
The odds of selling a home on the Eastside in July, 2010 ranged from a low of 11.5% to a high of 17%, with an average 14% absorption rate.(The absorption rate is the number of homes for sale in a month divided by the actual number of homes sold that month.)
July, 2010 3468 homes for sale 501 homes sold 14% odds of selling.
June, 2010 3360 homes for sale 475 (was 503) homes sold 14%(was 15%) odds of selling.*
May, 2010 3209 homes for sale 492 homes sold 15% odds of selling.*
July, 2009 3819 homes for sale 516 homes sold 13.5 % odds of selling.
June, 2009 3859 homes for sale 563 homes sold 15% odds of selling.
*Adjusted from previous month’s numbers to reflect the actual number of homes sold and closed. Each month some sales fall apart and don’t close. A lower number of home sales may be reported at a later date to show the actual number of sales that did close.
For the past few months, the absorption rate for all the Seattle-eastside areas has been in the teens, hovering around 13-15%. May, June, and July all had similar absorption rates. Since May of 2009, the number of homes that have sold each month has not varied all that much, with the exception of March and April of this year. March and April had higher sales because of the tax credit.
Where we see more of a difference is in the number of homes for sale on Seattle’s eastside. Last year there were 3819 homes for sale in July, 2009. This year there are 10% less homes on the market. But even with less homes on the market, the odds of selling are about the same.
We have the lowest interest rates since 1971. Plus, our Seattle eastside real estate market is clearly a buyers’ market again, since the absorption rate is so low. It’s very obvious when shown on a map of the area. I’ll post a map of the Seattle eastside showing where buyers and sellers markets are located later this week. The reality is, however, that most of the real estate markets are buyers’ markets right now.
So why are real estate sales so sluggish? My guess is the “fear factor.” People are still worried about the economy. Plus, with interest rates predicted to remain low for the foreseeable future, there’s also no sense of urgency to buy.
Why do you think the Seattle eastside real estate market is slower?
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July, 2009 Seattle-Eastside real estate market compared to July, 2010:
- The average asking price of pending homes (recently sold homes) went from $558,397 to $573,617. (This does not show what the homes actually sold for.)
- This week, there were 14,414 King County homes (houses and condos) for sale.
- Two weeks ago may have been the peak of the number of homes for sale this year when 14,639 homes were on the market.
- Home sales on Seattle’s Eastside: down 13%.
- Number of homes for sale on Seattle’s Eastside: down 10%
Best odds of selling: Carnation and Redmond, from downtown to north and east, with 17% of the homes getting accepted offers. Ironically, last month this area had the worst odds of selling at 9%.
Worst odds of selling: West Bellevue, with 11.5% of the homes getting accepted offers.
Biggest increase in sales from last year: A 5% increase in South Bellevue home sales, which is the biggest increase.
Smallest increase in sales from last year: Kirkland, with a 3% increase. There were only two areas with an increase in the number of home sales on Seattle’s eastside.
Decline in real estate sales from last year: There was a decline in 5 out of the 7 Seattle-eastside areas with the largest decline in home sales in West Bellevue with a 31% decline in the number of homes sold.
The peak of homes for sale in 2008: July, 4370 homes.
The peak of homes for sale in 2009: June, 3859 homes.
The number of eastside homes for sale at the start of 2010: 2584 homes
The number of eastside homes for sale in July, 2010: 3468 homes.
Rate of home sales that failed and did not close: 6%
For a picture of King County sales, check out The Seattle Times. The headline states sales are down, but prices are up. Keep in mind the headline may not represent each area. Prices are up slightly in some areas, down in others, and sales are down in 5 out of 7 eastside areas.
Affordability of Bellevue WA homes, Bellevue, Bellevue WA Schools, WA
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, real estate on July 22, 2010 at 10:54 am
It’s ironic that the articles about schools linked below were recently published, as last week I met with a past client who raised this very issue. My last post commented on home values and school systems.
My client bought his first home from me 5 years ago. It was a new home in a city with an excellent school system, but not the top school system on Seattle’s eastside. Now that his daughter is 5 years old, he’s looking at the different school systems even more closely. He’s done his homework and checked out such websites as Great Schools and Education. com. He’s read about the different school systems in the area and narrowed his choice down to the Bellevue, WA Schools. The Bellevue Schools have been honored in a variety of places. The high schools listed are in Newsweek’s Top 100 list and US News’ list.
But is the Bellevue School district affordable? My client wanted to know. He had questions about what he could afford and find in Bellevue. He owns a 5 year old home with 2300+ square feet out in Sammamish.
According to the article, Bellevue is not an affordable town. (Affordable is a relative term and each area will have a different affordability scale.) No matter where you live and what the affordability is of homes in your area, the rule of thumb is if a home is in a desirable school district, then it’s probably more expensive than a similar home in a less desirable district.
But even in some expensive school districts, prices can vary.
So what types of homes and prices can you find in Bellevue, WA? Here’s a snapshot of a typical week’s homes for sale during a week in July, 2010, which is representative of the housing available in Bellevue.
In Bellevue, homes can be found ranging from the high $200′s to multi-million dollar homes. If you divide Bellevue into areas, it’s easier to see what you can get in each area of Bellevue. Bellevue is divided into three main areas, West, East, and South Bellevue.
West Bellevue
The home of Bill Gates Jr, Charles Simonyi and other billionaires and uber-millionaires has some of the most expensive real estate in the country. (West Bellevue, also includes the towns of Hunts Point, Yarrow Point, and Medina, some of the priciest locations in the state and the country.)
Here’s a sampling of the homes available this week in West Bellevue:
Under $500,000- 4 homes
some of which are truly lot value with small, older homes. One home is a remodeled, most need to be remodeled and are small.
$500,000-$1,000,000- 35 homes
Ranging from homes built in the mid 50′s to the 60′s with 1400-2000 square feet to larger homes with a huge variety of square footage. Most of the homes were built from 1950-to the end of the century. Newer homes in this price range are generally smaller.
$1,000,000+ 66 homes
often with gracious appointments, lush grounds, views or waterfront. There’s an abundance of styles, ages, and square footage available. These homes are among the priciest homes in the area with a significant number of multimillion dollar homes.
East Bellevue
Under $300,000 10 homes
older ranch style homes with square footage usually around 1500 square feet. Some homes are bank owned, some in need of remodeling.
$300-$500,000 105 homes
(notice how many more homes are available in this price range than the other Bellevue neighborhoods. Here’s where you can find more home for your money and in less expensive neighborhoods)
$500-$1,000,000 79 homes
You’ll find large ramblers, 2 story hoomes, and all other styles. the homes in East Bellevue in this price range are usually terrific homes. East Bellevue is the most affordable part of Bellevue to find a home.
$1,000,000+ 18 homes
some with waterfront on Lake Sammamish, others are new construction.
South Bellevue
Under $300,000 4 homes One is a short sale, 1 is partially remodeled, and two are older smaller homes.
$300-$500,000 33 homes
Ranging from small rambler (ranch style) homes of 1000 square feet up to two story homes built in the 1960-1980′s with 2800 square feet. There are mid-entry and tri-level homes along with one and two story homes in this price range. Mid-entry and tri-level homes will be the most affordable and offer the most square footage for the money. If you want a home with some size and in good condition, you’ll be spending closer to $500,000. The lower end of this price range buys you a small home.
$500-$1,000,000 57 homes
Here you’ll find larger one level homes with 3 and 4 bedrooms. Two story homes built after 1980 with square footage ranging up to 3000+. You’ll also find large mid-entry and tri-level homes.
$1,000,000+ 37 homes
Upscale neighborhoods with drop dead gorgeous views of Seattle, Bellevue, the mountains, and lakes abound with homes ranging from mid-century modern ramblers on large lots to all styles of homes with views and lots of square footage. Many of the homes were built after 1980. Homes can be found with substantial square footage, high end amenities, and excellent quality and finish work.
The most affordable part of Bellevue is East Bellevue, although there are affordable houses all over. However, what you can get for your money is vastly different in each of these areas as you can see from the above. There are options, though, and everyone has to decide the value of the schools in relation to the type of home available.
Are there great schools in other parts of the Seattle-Eastside? Yes, if you look at the lists above, other schools in Lake Washington School District, as an example pop up. Woodinville High School is another great school. These are not the only great schools. There are more out there on the eastside. Bellevue has some affordable housing, but some home buyers may want newer or larger homes for the money and may need to look at other Seattle-eastside cities.
The beauty of the Seattle-eastside is there are great schools and some great housing all over. There are options.
good schools and good real estate, making a good home purchase, schools affect real estate value
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Local news and information, real estate on July 20, 2010 at 9:47 am
Looking for a home and want a good neighborhood which maintains its value over time? Even though prices have dropped considerably and homes are more affordable, it’s important to investigate everything that could add value to your home purchase. No matter whether you’re a single person, have a family or are an empty nester, look at the reputation of the local school system. It can add or detract from the value of your home and its ultimate price tag when you go to sell. It’s something to think about here on the eastside as we have many good schools in several school districts, but the Bellevue Schools come to mind first, since they’ve been mentioned both in Newsweek and US News.
Check out local city websites and school system websites. It’s so easy today to google a specific school system and find out all kinds of information.
From the bubble info blog:
When housing markets go south, “areas with exceptional schools tend to hold their value better than the market overall,” says Michael Sklarz, president of Collateral Analytics, a Honolulu-based firm that specializes in real estate data analysis.
From Sarah Max of The Wall Street Journal:
State assessments, independent ratings from websites like GreatSchools and Education.com and annual magazine rankings of America’s top high schools have not only made it easy for parents to factor school test scores and parent-teacher ratios into their buying decisions, they’ve cemented the relationship between home prices and school quality.
But nothing comes without trade offs. Because good schools add dollars to the cost of homes, it could mean a smaller or older home or a smaller lot. The decision to purchase the bigger or newer home in a less desirable district has to be weighed with the options for a home available in the better school district. For some people, the bigger house works better and is more important. For others, the quality of the schools themselves may be more important than the house.
Bellevue, The Bellevue Botanical Garden, WA
In Bellevue, WA, Exploring the Eastside on July 9, 2010 at 5:34 am
It’s funny how we can take local places for granted. We always think something is so close by, it’s easy to go anytime. But sometimes time gets the best of us.
I hadn’t been to The Bellevue Botanical Garden for several years. Over the 4th of July, I had a friend visiting from Connecticut, so off we went to the Garden. It was the perfect time to stop by to enjoy the flowers. So many of the flowers are in bloom right now.
Bellevue Botanical Garden
Hydrangeas in Bellevue Botanical Garden
A quiet spot in The Bellevue Botanical Garden
Most people don’t think about taking a break and finding a quiet spot in the garden, but this man was enjoying the peace and quiet.
Check the Bellevue Botanical Garden out this summer. It’s a beautiful place.
Bellevue, Bellevue schools, Interlake High, International School, Redmond High, Seattle, Seattle Eastside, Skyline High, Top High Schools in the country, WA, Woodinville High
In Bellevue, WA, Exploring the Eastside, For Buyers, For Homeowners, For Sellers, Issaquah, WA, Woodinville, WA on June 17, 2010 at 6:47 pm
Bellevue Real Estate, Issaquah Real Estate, Kirkland real estate, Redmond real estate, Sammamish home sales, Seattle real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, King County Real Estate, Kirkland, Real Estate News, Redmond, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA Real Estate, market statistics, real estate on June 10, 2010 at 3:38 pm
Seattle-Eastside Real Estate Sales, May 2010
The odds of selling a home on the Eastside in May, 2010 ranged from a low of 12% to a high of 20%, with an average 16.5% absorption rate. Contrast this with April, 2010 odds with a low of 20% to a high of 35%, averaging a 27% absorption rate.
May’s numbers look more like May of last year than they do of April of this year. This month may mark the back to reality of Seattle-eastside real estate or maybe not. We’ll need to see how the rest of the year plays out as so many people rushed to buy and sell before the end of the tax credit. There are still buyers who want to buy and the sellers who need to sell, although this may be a time of adjustment.
(The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
May, 2010 3209 homes for sale 529 homes sold 16.5% odds of selling.
April, 2010 3084 homes for sale 770 (was 847) homes sold 25%(was 27.5%) odds of selling.*
May, 2009 3841 homes for sale 547 homes sold 14% odds of selling.
*Adjusted from previous month’s numbers to reflect the actual number of homes sold and closed. Each month some sales fall apart and don’t close. A lower number of home sales may be reported at a later date to show the actual number of sales that did close.
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May, 2009 Seattle-Eastside real estate market compared to May, 2010:
- We are back to reality with Seattle-Eastside home sales. The tax stimulus pushed both home buyers and sellers to act more quickly this year, so the high number of home sales in April may have contributed to the drop in number of eastside home sales in May.
- The end of the tax stimulus had a greater impact on lower priced homes compared to higher priced homes.
- The average list price of properties that are pending went from $512,060 to $646,545. This is an unprecedented change month to month.
- As of this past week, there are 13,615 King County homes (houses and condos) for sale.
- The median price was down by .9%, an insignificant drop.
- Home sales on Seattle’s Eastside: down 7% The first down month in 2010.
- Number of homes for sale on Seattle’s Eastside: down 17%
Best odds of selling: Sammamish plateau areas of Sammamish, Issaquah, North Bend, and Fall City with the best odds of selling as 20.5% of the Sammamish homes got offers.
Worst odds of selling: Woodinville, Bothell, Kenmore, Duvall, and North Kirkland with 12% of the homes getting accepted offers.
Biggest increase in sales from last year: A small 6% increase in Sammamish home sales was the highest increase in Seattle-eastside real estate sales. Quite a contrast to the double and triple digit increases we’ve seen the last few months. As an example, there was 102% increase in the number of Kirkland homes sold in April, 2010 when compared to April, 2009.
Smallest increase in sales from last year: Kirkland home sales increased by 3%
Decline in real estate sales from last year: There was a decline in 5 out of the 7 Seattle-eastside areas, unlike the last few months when every eastside neighborhood experienced an increase in home sales. Redmond and Carnation had the largest decline in home sales with an 18% decline in the number of homes sold.
The peak of homes for sale in 2008: July, 4370 homes.
The peak of homes for sale in 2009: June, 3859 homes.
The number of eastside homes for sale at the start of 2010: 2584 homes
The number of eastside homes for sale now: 3209 homes.
Rate of home sales that failed and did not close: 10%
Seattle Eastside real estate tends to slow down a bit when the sun comes out, which hopefully is any day now! The number of home sales could remain on the lower side in the near future for two reasons. One is the slow down after the tax credit rush which we are now seeing and the upcoming (think positively) sunny weather and summer vacations. People in Seattle like to play outside in the sun. There are a number of people who are “gearing up” to make a move, so we may see stronger eastside real estate sales when summer comes to an end.
Ironically, when people ask me when is the best time time to sell a home, I tell them spring and fall are usually the best times. However, homes sell each month and the ones that show the best and are priced competitively will be the ones to get the offer.
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Local news and information, Seattle real estate, real estate on April 27, 2010 at 1:11 pm
Seattle-eastside new condo buildings are standing half empty. American Public Media took a look at the Seattle and Bellevue condo market in a piece aired on NPR last week. Below are some of the key points:
Escala, here in front of us, it’s 230 units. And they’ve only sold two in the last year-and-a-half.
The over-building is visible in surrounding cities as well, like Bellevue, where the new Bellevue Towers added 550 condos to the market.
Bellevue Towers- before completion
Jeff Tyler interviewed Michael Brandt, who purchased a unit in Bellevue Towers last year.
Brandt: I’m actually not paying home owners’ dues right now, and won’t be for potentially a year-and-a-half or two years down the road.
So, the perks for condo owners now are no home owners dues or lines to use the public spaces and/or equipment and the quiet. The negatives are no representation on the home owners’ association board until 60% of the units sell, a mostly empty building, and real difficulty reselling a condo now, since there are still so many unoccupied units for sale.
Some buyers may still want to buy in one of the condo towers because the hope is to get a screaming deal. For certain buyers who plan to stay and make one of the new condos a home, then it may make sense to do so. The Bellevue-Seattle condo real estate market should come around again, But don’t buy in one of the towers if your plan is to sell anytime in the next 5 years. In fact, I’d plan to stay put for a good 10 years. Maybe the condo market will change before that time, but I’d go for a really good deal and plan to stay for a long time if I were buying a Seattle or downtown Bellevue condo.
Bellevue Real Estate, Issaquah Real Estate, Kirkland real estate, Redmond real estate, Sammamish home sales, Seattle real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, market statistics, real estate on April 8, 2010 at 9:55 pm
Seattle- Eastside Real Estate Sales, March 2010
The odds of selling a home on the Eastside in March, 2010 ranged from a low of 18% to a high of 34%, with an average 27% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
March, 2010 2923 homes for sale 778 homes sold 27% odds of selling.
February, 2010 2706 homes for sale 506 (was 599) homes sold now 18% (was 22%) odds of selling.*
March, 2009 3711 homes for sale 305 homes sold 8% odds of selling.
*Adjusted from previous month’s numbers to reflect the actual number of homes sold and closed. Each month some sales fall apart and don’t close. A lower number of home sales may be reported at a later date to show the actual number of sales that did close.
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March, 2009 Seattle-Eastside real estate market compared to March, 2010:
- Home sales were up in all Seattle-Eastside cities, a trend which we’ve seen since the first of the year.
- Last week, we hit 12,726 properties for sale in King County, exactly 3000 more properties than the first week in January.
- This week we saw the first significant drop in the number of King County properties for sale as the number dropped by 120 to 12,606. There’s only been one other week this year where the amount of homes for sale dropped and that was only by 8 homes.
- On Seattle’s eastside the number of homes for sale continues to rise as over 200 more homes came on the market this past month.
- The median price was down by 7%, the same as last month. (Keep in mind this is comparing last March’s numbers to this March and is not an indication of the total drop in price for the year.)
- Home sales on Seattle’s Eastside: up 85%!
- Number of homes for sale on Seattle’s Eastside: down 21%
Best odds of selling: Redmond, near Microsoft, and East Bellevue with the greatest odds of selling. Thirty-four percent of the homes got offers.
Worst odds of selling: West Bellevue, with only 18% of the homes getting accepted offers.
Biggest increase in sales from last year: The plateau cities of Sammamish and Issaquah, plus Fall City and North Bend, with 154% increase in the number of home sales from last year.
Smallest increase in sales from last year: Redmond and Carnation, with an 18% increase in home sales over last year.
Decline in real estate sales from last year: None on the eastside. More homes sold in all areas of the eastside this March than compared to March, 2009.
The peak of homes for sale in 2008: July, 4370 homes.
The peak of homes for sale in 2009: June, 3859 homes.
The number of eastside homes for sale at the start of 2010: 2584 homes
The number of eastside homes for sale now: 2923 homes.
Rate of home sales that failed and did not close: 16%
What have you seen happening in your area? Are real estate sales popping?
For The Seattle Times view of the March, 2010 real estate market, check out this link. KPLU had a piece earlier this week about last month’s real estate activity.
What’s in store for April? What do you think will happen? I suspect the market will continue to be very strong, particularly in more affordable price ranges. Will our more positive real estate market continue after the April 30th deadline for the home buyer tax credit?
buyers markets in Seattle, King County Real Estate, Seattle eastside real estate Eastside real estate, Seattle real estate, sellers markets in Seattle
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, King County Real Estate, Kirkland, Redmond, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, market statistics, real estate on April 8, 2010 at 8:16 pm
Seattle-eastside real estate is starting to see “red.” Red is a sellers’ market, which means the average market time to sell a Seattle eastside home in the areas marked in red is from 3-6 months.
I sell a lot homes in the “hottest Seattle eastside area, which we call area 530, East Bellevue and the Redmond neighborhoods around Microsoft. Homes sales were hopping this past month, with sales often happening in two weeks or less. If you live in any of the areas marked in “red” and your home is not selling, it’s priced too high compared to competition. If your home is overpriced, you’re helping to sell other homes and they’re selling at your expense.
Seattle proper remains the “hottest” area overall, but if you’re looking to buy on the eastside, all the areas are either a real estate market that’s balanced between buyer and seller (yellow) or in “red,” a sellers’ market.
Buyers markets were absent in March. There’s no green (for a buyers market) left on this map, with the exception of Vashon Island, so the buyers’ markets we’ve been experiencing over the last few years were no where to be seen in in March.
Will the map show the same colors next month? I believe April will also be a very strong month for Seattle-eastside real estate.
Which King/Snohomish County Areas Are Selling Faster?
What do the numbers on the map mean?
The map is divided into the numbered areas as defined by our Northwest Multiple Listing Service (NWMLS). Downtown Bellevue is area 520 and East Bellevue is area 530, as an example.
What do the colors mean?
Red means it’s a sellers’ market, a sellers’ advantage.
Yellow means a balanced market between buyers and sellers.
Green means it’s a buyers’ market.
If you take each area as shown on the map and look to the area number on the side of the map, it will tell you how long it would take to sell every home currently for sale if no other home came up on the market in that area.
Bellevue Real Estate, buyers market in Seattle, Eastside real estate, King County Real Estate, Kirkland real estate, Redmond real estate, Sammamish real estate, Seattle home prices, Seattle real estate, Seattle/Eastside real estate, sellers market in Seattle, Snohomish County real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, real estate on December 17, 2009 at 2:24 pm
King Snohomish County Monthly Supply - November 2009
King-Snohomish County Real Estate Map - October 2009
King Snohomish County Months Supply-November 2008
The November, 2009 Seattle real estate map looks a lot different than October and really different than last November. More of the eastside of Seattle was in the “yellow,” a real estate market more evenly balanced between buyers and sellers, in October than in November, 2009. The increase in real estate sales in the Seattle area in October was so huge, that the real estate market settled down a bit in November.
There was such huge increase in Seattle-Eastside home sales in October 2009 with 100%+ increase in many neighborhoods. This past November, the increase in Seattle area home sales was an average of 50% more than last November. This is still a terrific increase in Seattle home sales, but not off the charts like October. Kirkland had the highest increase with 148% more homes selling this year than last. The smallest increase at 9% was in area 530, the East Bellevue and Redmond area near Microsoft.
The number of homes for sale is at the lowest point in almost three years. We have not seen so few homes for sale since March, 2007.
I expect the extension and expansion of the 2010 home buyer credit to continue to spur real estate sales on.
As I’ve been mentioning, be prepared for any and everything with real estate sales in the coming months. There’s no “one size fits all.” Home sales will depend on the price point, location, the home’s condition, the competition, and/or a combination of these things. Some homes will sell quickly and for a good price, others will still undergo significant price reductions to meet market expectations, and others will sell, but for less than one would expect. This, actually, is what we expect to see in a normal, more balanced real estate market.
What do the numbers on the map mean? The map is divided into the numbered areas as defined by our Northwest Multiple Listing Service (NWMLS). Downtown Bellevue is area 520 and East Bellevue is area 530, as an example.
What do the colors mean?
Red means it’s a sellers’ market, a sellers’ advantage.
Yellow means a balanced market between buyers and sellers.
Green means its a buyers’ market.
If you take each area as shown on the map and look to the area number on the side of the map, it will tell you how long it would take to sell every home currently for sale if no other home came up on the market in that area.
2010 home buyer tax credits, Bellevue condo sales, Bellevue Real Estate, buying a condo on Seattle’s eastside, Redmond condo sales, Redmond real estate, Seattle Eastside real estate, Seattle-eastside condo sales, selling a condo on Seattle’s eastside
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Local news and information, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, financing, market statistics, real estate on December 16, 2009 at 11:47 am
Seattle Eastside Condo Sales, Nov 2009
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
November, 2009 1289 condos for sale 140 condos sold, 11% odds of selling.
October, 2009 1363 condos for sale 239 (now 207) condos sold 17% (now 15%) odds of selling.*
November, 2008 1243 condos for sale 85 condos sold 7% odds of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of condos sold and closed. Some of the sales originally reported last month failed and did not close. Thirteen percent of condo sales originally reported in October failed to close.
The number of condos for sale also dropped by 74 units, which is 6% decrease in the number of condos available for sale on Seattle’s eastside. The number of Seattle Eastside condo sales dropped from the last couple of months to numbers more similar to what we saw in the summer.
With only about 10 out of 100 condos selling, it’s a great time to buy. There’s not much competition with other buyers. With the extension and expansion of the home buyer tax credit into 2010, there’s the added benefit of a tax credit, but only if you buy before the end of April, 2010.
Bellevue home sales, Bellevue Real Estate, Issaquah home sales, Issaquah Real Estate, Kirkland Home Sales, Kirkland real estate, Redmond home sales, Redmond real estate, Sammamish home sales, Seattle real estate, Seattle-eastside real estate. selling a home on Seattle’ s eastside, Woodinville home sales, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, Built Green and Sustainable Living, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on December 15, 2009 at 11:47 am
How did November, 2009 stack up to November, 2008 in your neighborhood?
(Click on the cities below to see real estate trends for the past 5 years. You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down. The odds of selling a home in each area is a result of the number of homes for sale divided by the actual number of home sales.)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
The odds of selling a home were 23%.
Median sales price remained the same, $552,500.
The number of homes for sale dropped by 27% and sales were up by 77% from last year.
West Redmond/East Bellevue
The odds of selling a home were 17%.
Median sales price remained the same, $479,000.
The number of homes for sale dropped by 18% and sales were up by 9%.
South Bellevue/Issaquah
The odds of selling a home were 20%.
Median price was the same at $685,000.
The number of homes for sale dropped by 21% and sales were up 71%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 13.5%.
Median price was the same at $411,750.
The number of homes for sale declined by 16% and sales were up by 29%.
Kirkland
The odds of selling a home were 15%.
Median price was the same at $739,000.
The number of homes for sale declined by 21% and sales were up by 148%.
West Bellevue
The odds of selling a home were 14%.
Median pricing was the same at $996,500.
The number of homes for sale decreased by 22% and sales increased by 68%.
Redmond/Education Hill/ Carnation
The odds of selling a home were 16%
Median pricing was the same at $559,900.
The number of homes for sale decreased by 21% and sales increased by 19%.
Last month I reported an increase in home prices in the Redmond/Education Hill/Carnation area and was surprised since all the other cities had lower median home prices. This month, however, almost all the median home prices in the different Seattle eastside cities remained the same as November, 2008. This is good news as prices may have stabilized. Since the number of homes for sale on Seattle’s eastside stands at the lowest number since March, 2007, it bodes well for Seattle real estate. With the extension of the home buyer tax credit, smaller numbers of homes for sale, low interest rates, real estate activity should be brisk in the first part of the year. For those reasons, if you want to sell your home and move in 2010, do it now, rather than later in 2010.
Bellevue home sales, Bellevue Real Estate, Issaquah home sales, Issaquah Real Estate, Kirkland Home Sales, Kirkland real estate, Redmond home sales, Redmond real estate, Sammamish home sales, Seattle real estate, Seattle-eastside real estate. selling a home on Seattle’ s eastside, Woodinville home sales, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on December 15, 2009 at 10:04 am
Eastside Real Estate Sales, November 2009
The odds of selling a home on the Eastside in November 2009 ranged from a low of 13.5 % to a high of 23%, with an average 17% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
November, 2009 2943 homes for sale 503 homes sold 17 % odds of selling.
October, 2009 3240 homes for sale 644(now 561) homes sold 19%(now 17%) odds of selling.*
November, 2008 3645 homes for sale 238 homes sold 6.5% odds of selling.
*Adjusted from previous month’s numbers to reflect the actual number of homes sold and closed. (see explanation below) Each month some sales fall apart and don’t close. A lower number of home sales may be reported at a later date to show the actual number of sales that did close.
_____________________________________________________________
November, 2008 Seattle-Eastside real estate market compared to November, 2009:
Several important trends this month:
- Home sales were up in all Seattle-Eastside cities.
- The number of homes for sale dropped to the lowest number, below 3000 homes, since March, 2007. This is a very important factor in our real estate market. For most of the past two years, there’s been a large number of homes on the market. In 2005 and 2006, when the real estate market was booming, we saw the numbers of homes for sale on the eastside in the 2000-3000 range.
- The median prices were UP slightly, by 2%.
- Home sales on Seattle’s Eastside: up 50.5%, a terrific increase in sales, although a much smaller increase than in October, when the increase was over 100%.
Sales prices: UP 2.1%.
Number of homes for sale: down 22%.
Best odds of selling: For the second month in a row, the cities of Sammamish, Issaquah, Fall City, Snohomish, and North Bend, with 23% of the homes selling.
Worst odds of selling: Woodinville, North Kirkland, Bothell, Kenmore and Duvall, with 13% odds of homes selling.
Biggest increase in sales from last year: Kirkland, with 148% more home sales.
Last month, numbers like this were more common in all the eastside cities. Not so this month with Sammamish, Issaquah, etc. coming in with the second highest increase at 77%.
Smallest increase in sales from last year: Again it’s the East Bellevue/Redmond area around Microsoft, with the smallest increase this month, only 9%.
Home sales in Bellevue and Redmond have been so strong in comparison to other eastside areas for so long. Now other Seattle-Eastside neighborhoods are catching up.
Decline in real estate sales: None on the eastside.
The peak of homes for sale in 2008: July, 4370 homes.
The peak of homes for sale in 2009: June, 3859 homes.
Rate of home sales that failed this month: 13%
Why home sales fail to close:
- This can be the result of inspections in which buyers and sellers do not agree, an appraisal that does not justify the sales price, lenders who do not package the loan properly or the great number of short sales that are out there.
- Short sales are sales in which the selling price for a property is less than the price owed to the bank, so the seller is “short.” Many of these offers do not stay together because it often takes months for a short sale to get approved by the bank. There’s no guarantee the bank will accept an offer. I’ve heard only 4% of the short sales actually close in King County. Since there’s a huge number on the market, if you’re someone willing to take a chance and accept that your offer may never be looked at or accepted, then a short sale may be a way to go. With the extension of the home buyer tax credit, home buyers have more time to go after short sales. However, months may still be needed to get the short sale closed, if it is to close at all. Since most buyers truly want to purchase a home and close on it, I would recommend NOT making offers on short sales. I’d also recommend reading as much as you can about short sales before attempting to make an offer on a short sale. This way you’ll be prepared if you choose to go the route of a short sale.
- My team and I are closing on a short sale this week. The original offer was written in August. There were two lienholders, two banks with mortgages on the property, which complicated the process. Short sales can happen, but a buyer has to expect a rocky ride through the sales process, if the banks actually respond to the offer. Be ready for most anything and most of all, be patient and not under any time constraints.
2010 home buyer tax credits, Bellevue condo sales, Bellevue Real Estate, buying a condo on Seattle’s eastside, Redmond condo sales, Redmond real estate, Seattle Eastside real estate, Seattle-eastside condo sales, selling a condo on Seattle's eastside
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on November 11, 2009 at 12:35 pm
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
October, 2009 1363 condos for sale 239 condos sold 17% odds of selling
September, 2009 1407 condos for sale (now 210) 236 condos sold (now 15%) 17% odds of selling.
October, 2008 1351 condos for sale 116 condos sold 9% odds of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of condos sold and closed. Some of the sales originally reported last month failed and did not close.
More Seattle Eastside condos are selling than earlier this year, although the absorption rate is still under 20%.
Important news for all condo buyers:
With the extension and extension of the home buyer tax credit to include not only first time buyers, but many move up buyers, I’m hoping the number of condo sales on Seattle’s eastside will increase in the near term.
Bellevue home sales, Bellevue Real Estate, Issaquah home sales, Issaquah Real Estate, Kirkland Home Sales, Kirkland real estate, Redmond home sales, Redmond real estate, Sammamish home sales, Seattle real estate, Seattle-eastside real estate. selling a home on Seattle' s eastside, Woodinville home sales, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle, Seattle real estate, WA, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on November 10, 2009 at 12:04 pm
How did October, 2009 stack up to October, 2008 in your neighborhood?
(Click on the cities below to see real estate trends for the past 5 years. You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down. The odds of selling a home in each area is a result of the number of homes for sale divided by the actual number of home sales.)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
The odds of selling a home were 26%.
Median sales price decreased by 9% from $559,000 to $509,000.
The number of homes for sale dropped by 33% and sales were up by 119% from last year.
West Redmond/East Bellevue
The odds of selling a home were 19%.
Median sales price decreased to $445,000 from $484,725, a decrease of 9%
The number of homes for sale dropped by 23.5% and sales were up by 53%.
South Bellevue/Issaquah
The odds of selling a home were 23%.
Median price increased by 4% to $592,500 from $569,900.
The number of homes for sale dropped by 21% and sales were up 156%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 16%.
Median price was down to $429,975 from $533,925, a 19.5% decrease.
The number of homes for sale declined by 15% and sales were up by 89%.
Kirkland
The odds of selling a home were 18%.
Median price decreased by 29.5%, from $709,475 to $500,000.
The number of homes for sale declined by 23% and sales were up by 142%.
West Bellevue
The odds of selling a home were 14%.
Median pricing decreased by 18% from $1,399,000 to $1,150,000.
The number of homes for sale decreased by 16% and sales increased by 100%.
Redmond/Education Hill/ Carnation
The odds of selling a home were 23%
Median pricing increased by 6% to $449,995 from $472,425.
The number of homes for sale decreased by 16% and sales increased by 190%.
The increase in sales was huge all over the Eastside. Surprising, but maybe not so surprising, the increase in sales was the smallest in the area that has traditionally been the strongest over the last few years, the East Bellevue/Redmond area near Microsoft. This could be the result of a few factors. One is Microsoft is not hiring as many people and is also doing some layoffs. Also, with the area so strong in home sales over the years, other areas are starting to catch up more in the number of sales.
Two areas saw an increase in median pricing from last year, downtown Redmond and Carnation and South Bellevue and Issaquah. This is a real surprise, since every area has shown a decline in prices. This may be an anomaly, so I’ll check it out next month.
Bellevue, Bellevue volunteer opportunities, Bridge Disability Ministries, Eastside Audubon, Elder and Adult Day Care Services, Habitat for Humanity, SeniorNet of Puget Sound, volunteering, volunteering in Bellevue, WA
In Bellevue, WA, Boomer issues, For Homeowners, Local news and information, not real estate on October 30, 2009 at 10:54 am
What do enjoy doing? I bet there’s an opportunity out there for you to combine your interests with giving back to the community.
Volunteering is such an important thing. Bellevue is sponsoring a volunteer open house to present all the opportunities available to volunteer in the city.
The following is from The City of Bellevue’s news release:
Bellevue will host a volunteer job fair where people can learn about dozens of opportunities to pitch in for the city and community organizations. The job fair will be on Saturday, Nov. 7 at Lewis Creek Park, noon to 2 p.m. at the park visitor center, 5808 Lakemont Blvd.
The event will feature information about volunteer opportunities with Bellevue and community organizations including: the Alliance of People with Disabilities, Bellevue College, the Bellevue School District VIBES Program, Big Brothers Big Sisters, Birthday Dreams, Boys & Girls Clubs, Bridge Disability Ministries, Congregations for the Homeless, Eastside Audubon, Elder and Adult Day Services, FEAT, Girl Scouts, Habitat for Humanity, Homeward Pet, NAMI Eastside, Puget Sound Blood Center, Red Cross, SeniorNet of Puget Sound, The Museum of Flight, Volunteer Chore Services and Youth Venture.
Bellevue’s volunteer program is extensive, with half a dozen categories of volunteer and a community volunteering guide.
Bellevue, Bellevue condo towers, Bellevue Real Estate, Jimmy Choo, John Howie Steak, Neiman Marcus, Salvatore Ferragamo, Schnitzer West, The Bravern, Wild Ginger
In Bellevue Real Estate, Bellevue, WA, Dining on the Eastside, Exploring the Eastside, For Buyers, not real estate on September 25, 2009 at 2:05 pm
You can shop to your heart’s content at The Bravern’s Neiman Marcus, Salvatore Ferragamo, Jimmy Choo and more. (There’s already a Facebook Fan Page for Jimmy Choo in Bellevue.) You can dine at several fabulous restaurants such as John Howie Steak and Wild Ginger. You can go to the spa at Elizabeth Arden’s Red Door, but you can’t move into one of The Bravern Residences just yet. The two residence towers are still under construction and should be ready for occupancy the first of next year.
Last week Forum XXII, the eastside real estate network, of which I am a member, was invited to take a hard hat tour of the Towers, courtesy of Schnitzer West, the developer, and Neiman Marcus.
Forum XXII Hard Hat Tour
For our tour, we started at the top, the penthouse.
View Looking South From The Penthouse at The Bravern
The penthouse occupies the entire top floor, the 30th, of each of the two towers. It’s sold as a shell and can be completed to the buyer’s individual specifications. Entirely surrounded by windows and a huge patio areas, there’s essentially a 360 degree view from Mt. Rainier, the Cascades, to Lake Washington and the Olympics. The penthouses will be one of the rare homes were you can see both the sun rise and set.
Construction Crew Busy Working
The Bravern also a 25,000 square foot community room with its own fireplace and catering kitchen. Outside is a glass enclosed sitting area complete with a fireplace. The garden area, which was recently planted, has areas to barbecue and a unique fountain.
The Private Gardens of The Bravern
I’m looking forward to seeing the towers when they’re completed next year.
$8000 first home buyer credit, buying a condo on Seattle's eastside, buying a condo on the eastside, condo sales, Eastside real estate, FHA spot approval, Seattle/Eastside, Seattle/Eastside condo sales, Seattle/Eastside real estate, selling a condo on Seattle's eastside, selling a condo on the eastside
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Mortgages, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, real estate on September 15, 2009 at 10:09 am
Seattle/Eastside Condo Sales, August 2009
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
August, 2009 1429 condos for sale 206 condos sold 14% chance of selling.
July, 2009 1441 condos for sale 203 (now 171) condos sold 14% (now 12%) chance of selling
August, 2009 1495 condos for sale 159 condos sold 10% chance of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of condos sold and closed. Some of the sales originally reported last month failed and did not close.
More Seattle Eastside condos are selling. Numbers are more than double the figures from January and February of this year. But still, some sales are falling apart and not closing because of inspection, financing issues and appraisal issues.
Sales don’t close for a variety of reasons: an appraisal that came in lower than the selling price, an inspection that both buyer and seller couldn’t agree upon or a lender who didn’t put the loan package together properly. Unfortunately, there are other reasons sales fail to close, such as short sales in which a seller is selling a condo for less than is owed on the property and the bank does not agree to sell the property at the price agreed upon between the buyer and seller.
Important news for all condo buyers: FHA spot approvals will be going away. If a unit in a condo association could meet designated FHA guidelines and the whole complex is not approved, then an offer and approval for this spot FHA loan must be approved by the lender by October 1st, only two weeks away. FHA financing allows for a borrower to put just 3.5% down.
The absence of FHA spot approvals and the end of the $8000 first time home buyer tax credit could affect the number of condo sales in the future.
Bellevue Real Estate, Issaquah Real Estate, King County Real Estate, Kirkland real estate, Redmond real estate, Sammamish real estate, Seattle, Seattle real estate, Seattle/Eastside real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, real estate on September 14, 2009 at 2:02 pm
Seattle-Eastside Real Estate Activity August 2009
The chances of selling a home on the Eastside in August 2009 ranged from a low of 15% to a high of 28%, with an average 19% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
August, 2009 3604 homes for sale 683 homes sold 19% chance of selling.
July, 2009 3819 homes for sale 631 (now 538) homes sold* 19%(now 14%) chance of selling.*
August, 2008 4346 homes for sale 433 homes sold 9% chance of selling.
*Adjusted from previous month’s numbers to reflect the actual number of homes sold and closed. Some sales from each month fall apart and don’t close, hence a lower number of sold homes may be reported at a later date.
_____________________________________________________________
(Click on the cities below to see real estate trends for the past 5 years. You can see the median pricing for each city and whether the number of homes for sale and the number of sales went up or down. If you look at the charts, you’ll notice the total number of homes for sale and the number of homes sold can vary slightly from the above chart. The information for the charts is gathered at slightly different times so can vary slightly. Regardless, the charts show the same trends.)
(click on city names for a chart showing the latest stats in the area)
How did August, 2009 stack up to August, 2008 in your neighborhood?
The plateau: Sammamish, Issaquah, North Bend, and Fall City
The chances of selling a home were 19%.
Median sales price decreased by 10% from $572,000 to $515,000.
The number of homes for sale declined by 22% and sales were up by 21% from last year.
West Redmond/East Bellevue
The chances of selling a home were 28%.
Median sales price decreased to $475,000 from $549,000, a decrease of 13.5%
The number of homes for sale dropped by 23% and sales were up by 12%.
South Bellevue
The chances of selling a home were 17%.
Median price decreased by 15% to $499,500 from $592,475.
The number of homes for sale dropped by 15% and sales were up 55%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The chances of selling a home were 18%.
Median price was down to $425,000 from $478,062, an 11% decrease.
The number of homes for sale declined by 17% from last year and sales were up by 50%.
Kirkland
The chances of selling a home were 21%.
Median price decreased by 10.5%, from $649,950 to $581,919.
The number of homes for sale declined by 15% and sales were up by a whopping 83%.
West Bellevue
The chances of selling a home were 15%.
Median pricing decreased by 10% from $999,950 to $899,475.
The number of homes for sale decreased by 12% and sales increased by a truly whopping 129%.
Redmond/Education Hill/ Carnation
The chances of selling a home were 21%
Median pricing decreased by 10% from $599,950 to $542,250.
The number of homes for sale decreased by 12% and sales increased by 27%.
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Thoughts on the August 2009 Seattle Eastside real estate market:
Is there a change in the Seattle-Eastside real estate market? You bet! The key indicator is homes are not only selling, but more homes in the high end are selling. This means that buyers in all price ranges are less afraid to go out and buy. This uptick in real estate sales is not just the result of first time buyers looking for the $8000 tax credit, but for home buyers in every price range.
Most eastside homes had 19% chance of selling. Nineteen out of 100 homes had offers last month and are now pending.
Home sales on Seattle’s Eastside were up 42% and prices were down 8.5% overall.
Several areas had a huge increase in the number of homes sold:
West Bellevue 129%
Kirkland 83%
South Bellevue 55%
- Best odds of selling: once again it’s Redmond, near Microsoft, and East Bellevue with a 28% chance of a home selling.
- Most difficult odds of selling: West Bellevue, with a 13% chance of selling a home. Yet, West Bellevue had the biggest sales increase from last year, a whopping 128% more homes sold this August than last year.
- Last month the median sales price in Kirkland and West Bellevue both were up over July, 2008. Looking at August’s median pricing, every neighborhood experienced a decline in median pricing combined with a strong uptick in home sales.
- If you look at the chart above, it’s clear the number of homes for sale is less than last year when the peak of homes for sale happened in July of 2008. I’m hoping this year we hit the peak of homes for sale on Seattle’s Eastside back in July, when 13,835 homes were for sale. So far, this is holding true and the number of homes for sale on Seattle’s eastside keeps dropping each month.
- It’s still looking like a lot of home sales fail to close. There’s a high fallout rate with sales, as you can see from July’s numbers alone, almost a 100 home sales did not close! Given that originally 631 sales were reported for the month in July and 538 sales were reported a month later, 15% of July’s sales failed. This is a high number of failed sales and could be the result of inspections in which buyers and sellers do not agree, an appraisal that does not justify the sales price, lenders who do not package the loan properly or the great number of short sales that are out there.
- Short sales are sales in which the selling price for a property is less than the price owed to the bank, so the seller is “short.” Many of these offers do not stay together because it often takes months for a short sale to get approved by the bank. There is no guarantee the bank will ever look at an offer or approve and accept it. I’ve heard that only 4% of the short sales actually closed in King County. Since there are a huge number on the market, if you are someone who’s willing to take a chance on a property, are willing to accept that your offer may never be looked at or accepted, then a short sale may be a way to go. However, since most buyers truly want to purchase a home and close on it, I would recommend NOT making offers on short sales.
Here’ s what the local news media, The Seattle PI and The Seattle Times reported about August real estate activity. The Times echoed my thoughts above as to the fact that the higher end of the real estate market has new life.
Amazon, Bellevue, Burgermaster, Jeff Bezos, Microsoft, Seattle, Seattle/Eastside
In Bellevue, WA, Exploring the Eastside, real estate on September 8, 2009 at 5:42 am
Microsoft, Amazon and all the important technology spots are now part of a “geek” tour of the Seattle and the Eastside. There’s a lot of real estate important to the “geek” world in Seattle and on the eastside. There’s an opportunity to see the first Bellevue home of Jeff Bezos, the home where he started Amazon in his garage, the main Microsoft campus,
Microsoft
and most importantly, Burgermaster, the ultimate, iconic burger spot that early Microsofties frequented.
When the duck boats start leading the tours on the eastside, we’ll know we’ve made it! We don’t have Hollywood stars here on Seattle’s Eastside, but we do have “geek” stars. Welcome to our world of fame and fortune.
buying a condo east of Seattle, Seattle Eastside real estate, Seattle real estate, Seattle-eastside condo sales, selling a condo east of Seattle
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, King County, WA, market statistics, real estate on August 12, 2009 at 9:11 pm
Eastside Condo Sales July 2009
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
July, 2009 1441 condos for sale 203 condos sold 14% chance of selling
June, 2009 1491 condos for sale 189 (now 171) condos sold 13% (now 12%) chance of selling*
July, 2009 1495 condos for sale 154 condos sold 10% chance of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of homes sold and closed. Some of the sales originally reported last month failed and did not close.
More Seattle Eastside condos are selling. However, 10% of the sales didn’t close that were reported as pending in June. When first reported in June. there were 189 sales. The month of June ended with 171 sales, which means 18 condo sales fell apart and did not close.
Sales don’t close for a variety of reasons: an appraisal that came in lower than the selling price, an inspection that both buyer and seller couldn’t agree upon or a lender who didn’t put the loan package together properly. Unfortunately, there are other reasons sales fail to close, such as short sales in which a seller is selling a condo for less than is owed on the property and the bank does not agree to sell the property at the price agreed upon between the buyer and seller.
This is the first time since May of 2008 that over 200 condos sold on the Eastside. The amount of condos for sale has also dropped from last month’s high. Let’s hope that June was the peak with the number of condos for sale on Seattle’s Eastside.
Bellevue Real Estate, Eastside real estate, Issaquah Real Estate, Kirkland real estate, Redmond real estate, Sammamish real estate, Seattle, Seattle Eastside, Seattle real estate, Woodinille real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics on August 12, 2009 at 9:03 pm
Eastside Residential Real Estate July 2009
The chances of selling a home on the Eastside in July 2009 ranged from a low of 13% to a high of 27%, with an average 16.5% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
July, 2009 3819 homes for sale, 631 homes sold 16.5% chance of selling.
June, 2009 3859 homes for sale, 675 ( now 599) homes sold 17%( now 15%) chance of selling.*
July, 2008 4370 homes for sale 494 homes sold 11% chance of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of homes sold and closed. Some sales from each month fall apart and don’t close, hence a lower number of sold homes may be reported.
_____________________________________________________________
(Click on the cities below to see real estate trends for the past 5 years. You can see the median pricing for each city and whether the number of homes for sale and the number of sales went up or down. If you look at the charts, you’ll notice the total number of homes for sale and the number of homes sold can vary slightly from the above chart. The information for the charts is gathered at slightly different times so can vary slightly. Regardless, the charts show the same trends.)
(click on city names for a chart showing the latest stats in the area)
How did July, 2009 stack up to July, 2008 in your neighborhood?
The plateau: Sammamish, Issaquah, North Bend, and Fall City
The chances of selling were 18%.
Median sales price decreased by 9% from $575,000 to $525,000.
The number of homes for sale declined by 21% and sales were up by 24% from last year.
West Redmond/East Bellevue
The chances of selling were 27%.
Median sales price decreased to $470,000 from $574,990 a decrease of 18%.
The number of homes for sale dropped by 21% and sales were up by 40%. (77 vs. 55 sales)
South Bellevue
The chances of selling were 15%.
Median price increased by 2% to $617,000 from $604,950
The number of homes for sale dropped by 14% and sales were even with last year as 80 sales happened July-08 and July-09.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The chances of selling were 16%.
Median price was down to $460,000 from $475,000, a 3% decrease.
The number of homes for sale declined by 9% from last year and sales were up by 6%.
Kirkland
The chances of selling were 14%.
Median price increased by 5%, from $569,000 to $599,000.
The number of homes for sale declined by 11% and sales were up by 27.5%.
West Bellevue
The chances of selling were 13%.
Median pricing decreased by 46% from $1,748,000 to $950,000.
The number of homes for sale decreased by 4.5% and sales increased by 165%.
Redmond/Education Hill/ Carnation
The chances of selling were 17%
Median pricing decreased by 9% from $549,375 to $499,000.
the number of homes for sale decreased by 7% and sales increased by 33%.
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Thoughts on the July 2009 Seattle Eastside real estate market:
- Most eastside homes had 16.5% chance of selling. Sixteen to 17 out of 100 homes had offers last month and are now pending.
- It looks like 11% of the home sales fell out of escrow, as the absorption rate for June dropped by 2% from 17 to 15%. Originally, there were 675 pending sales, so 76 offers did not stay together. This is a high number of failed sales and could be the result of inspections in which buyers and sellers do not agree, an appraisal that does not justify the sales price, lenders who do not package the loan properly or the great number of short sales that are out there. Short sales are sales in which the selling price for a property is less than the price owed to the bank, so the seller is “short.” Many of these offers do not stay together because it often takes months to resolve a sale between the buyer, seller, and the bank.
- Best odds of selling: once again it’s Redmond, near Microsoft, and East Bellevue with a 27% chance.
- Most difficult odds of selling: West Bellevue, with a 13% chance of selling a home. Yet, West Bellevue had the biggest increase from last year with the chance of getting a home sold, a whopping 165% more homes sold this July than last year, 45 vs. 17.
- In a couple of areas prices actually went up this month from last year, quite an unusual occurrence these days. West Bellevue and Kirkland had a slightly higher median price this past July than July, 2008.
- Overall, the number of homes for sale is less than last year. I’m hoping we hit the peak of homes for sale on Seattle’s eastside back in July, when 13,835 homes were for sale. Home sales were up 22% and prices were down 7%.
Bellevue, Bellevue Artsfair
In Bellevue, WA, not real estate on July 28, 2009 at 4:37 am
There was a lot of great art to see at last week’s Bellevue ArtsFair for the Bellevue Art Museum. I was truly impressed with all of the creative work presented. Here are some highlights and some favorites from this year’s show. There was so much great work, it was hard to pick favorites:
Seth Rolland was at it again, creating unique furniture with intriguing natural materials of wood and basalt:
Seth Rolland's wood and basalt table
Across the aisle were some marvelous paintings made of wax and other elements. I particularly liked the piece that had a green wax background with reeds throughout. Jacki Pouyat is the artist.
Wax paintings
Beautiful fused glass from Richard Parrish’s Fusio Studio, was another winner. The colors were just terrific. Glass art is one of my forms of art.
Fusio Studio-Richard Parrish
Now of course, there’s my favorite thing, handmade clothing. I admit, I visited a few artists whose pieces I’ve bought in the past. Deborah Cross’s jackets are beautiful, unique, and colorful pieces.
Deborah Cross
Candiss Cole is another clothing designer who has fun jackets and shirts with a retro feel.
Candiss Cole
The desert has moved up to Seattle with the saguaros made by the Desert Steel Company. I thought for sure the artist was based in Arizona because of the saguaro motif, but they are from Kansas City!
Desert Steel Co. Saguaro
Shea Guevera, a young artist from Utah, paints beautiful land and city scapes.
Artist Shea Guevera
Lastly, there were two artists for whom I have no pictures. Matthew Allison, a ceramicist, makes beautiful pieces that evoke the western landscape. I was impressed with the earthy quality of his work. He was able to project images of the land through his pieces.
The other artist simply blew me away. Lorra Lee Rose creates pieces out of bird feathers. These were incredible works. I’d never seen such detail. I imagine creating a piece with the individual feathers would be an incredibly labor intensive process.
I haven’t been able to describe all of my favorites. There were many, but these will give you a taste of how special the Bellevue ArtsFair is every year. What were your favorites?
BAM, Bellevue, Bellevue Art Museum, Bellevue Art Museum Fair
In Bellevue, WA, Exploring the Eastside, not real estate on July 23, 2009 at 11:42 am
Bellevue’s show of shows, The Bellevue Art Museum ArtsFair is this weekend and in it’s usual place the parking garage of the mall. Where else but Bellevue would you find an art fair in such a venue, but it works! It’s one of the summer events I’ve looked forward to over the last 23 years of living on the Eastside. The fair is this weekend, the 24th-26th. Friday and Saturday, it’s from 9:30 AM-9:30 PM and Sunday from 9:30-6PM.
View Larger Map
The caliber of art is just fantastic.
Art from a past Bellevue ArtsFair
It’s a juried show, so the best of the best are invited to exhibit at the fair. Many local artists participate, but artists will be there from all over the country. Expect to see great jewelry, fine woodworking, ceramics, glass, handmade clothing and more. The fair has included a regular group of popular artists, plus adding interesting new people each year. Bring your check book as it’s difficult to leave the fair without wanting to buy something unique and wonderful. The fair is also a fundraiser for the Bellevue Arts Museum, so you’d accomplish three things when purchasing art at the fair: buying a piece of art for yourself, supporting artists, and supporting the museum.
Here are some of my favorites from last year’s fair.
The fair has come along way from it’s start in 1947 when Bellevue Square was a new, open air mall. Now today, we have meetup groups using social networking to organize a trip to the fair.
The fair has grown over the years to include an arts fair over in the CostPlus Parking lot and another fair by the Bellevue Galleria.
A few tips to help you enjoy the fair:
- go in the evening, early in the morning or dinner time. It’s usually less crowded than mid-day.
- don’t use the NE 8th exit ramp off 405 along with everyone else. You’ll be stuck in traffic. Take the NE 4th exit or come into Bellevue along Bellevue Way. All the time you spend in unnecessary traffic could be spent at the fair.
- Go immediately to the upper levels of the parking garage. You usually get spaces up there without having to circle around as much.
Enjoy the fair and let me know what you liked the best this year.
boating, kayaking, Kenmore Air, Lake Washington, Mt. Rainier, sailing, Seattle, Seattle Eastside
In Bellevue, WA, Exploring the Eastside, not real estate on July 6, 2009 at 4:18 pm
So you think it always rains in Seattle? It’s our big secret, but Seattle summers are just gorgeous and this year is proving to be one of the best. People in the Seattle don’t waste a minute when the sun is out and the weather is just fine. Here are some photos from the Fourth of July, 2009 weekend of people and places around Seattle and Lake Washington.
Gorgeous Views of Mt Rainier
Downtown Bellevue from Lake Washington at sunset
Mt Olympus sunset
buying an Eastside condo, real estate, Seattle real estate, Seattle-eastside condo sales, selling an eastside condo
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, King County Real Estate, Kirkland, Real Estate News, Redmond, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA Real Estate, market statistics, real estate on June 17, 2009 at 3:11 pm
Seattle-Eastside Condo Real Estate Statistics, May 2009
(pended means the number of condos that got offers this month)
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
1441 condos for sale 177 condos sold 12% chance of selling.
May represented the highest number of condo sales on Seattle’s eastside since June, 2008. The number of condos for sale increased dramatically this month, with the addition of 126 more condos for sale, whereas only 15 more condos sold in May than in April. There was a much bigger jump in the condos for sale than in the number of condos that sold.
Real estate activity, in general, is picking up. It will be interesting to watch how the fluctuating interest rates affect the sales of condos on Seattle’s eastside and in the real estate market overall. We have to remember that rates are still wonderfully low, even if they go up.
Bellevue Real Estate, Bothell real estate, Kenmore real estate, Kirkland real estate, Sammamish real estate, Seattle Eastside real estate, Seattle real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, Sammamish, WA Real Estate, Woodinville, WA Real Estate, market statistics, real estate on June 10, 2009 at 2:06 pm
Seattle/ Eastside Residential Real Estate, May 2009
The chances of selling a home on the Eastside in May 2009 ranged from a low of 12% to a high of 23%, with an average 16% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.) Numbers are rounded off to the nearest whole number, unless the number is exactly .5% between two numbers.
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
May, 2009 3841 homes for sale 624 homes sold 16% chance of selling.
April, 2009 3600 homes for sale 497 homes sold 17% chance of selling.
May, 2008 4305 homes for sale 478 homes sold 11% chance of selling.
_____________________________________________________________
(You can still find the MLS charts by clicking on each of the cities below. Those charts have some of the same information as the chart above, but also show the real estate trends for the last 5 years, including median pricing for each city and whether the number of homes for sale and the number of sales are up or down. If you look at the charts by city, you’ll notice the total number of homes for sale and the number of homes sold can vary slightly from those charts to the chart above. The information for the charts is gathered at slightly different times. Regardless of the exact numbers, it’s clear the charts show the same trends, which is the most important piece of information.)
(click on city names for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall Ciy
The chances of selling were 17%.
Median sales price decreased by 15% from $614,900 to $524,950.
Inventory was down by 15% and sales were up by 15% from last year.
West Redmond/East Bellevue
The chances of selling were 23%.
Median sales price decreased to $515,000 to $559,950 a decrease of 8%.
Inventory was down 16% and sales were up 43%.
South Bellevue
The chances of selling were 17%.
Median price decreased by 11.5% from $699,475 to $619,000.
Inventory was down by 18.5% and sales were up 25%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The chances of selling were 17%.
Median price was down to $459,500 from $499,950, an 8% decrease.
Inventory was down by12% from last year and sales were up by 58%.
Kirkland
The chances of selling were 12%.
Median price decreased by12%, from $679,000 to $599,950.
Inventory was down by 10% and sales were up by 16%.
West Bellevue
The chances of selling were 18%.
Median pricing decreased by17% from $1,325,000 to $1,097,975.
Inventory decreased by 2 % and sales increased by 143.5%.
Redmond/Education Hill/ Carnation
The chances of selling were 17%
Median pricing decreased by 12% from $650,000 to $569,895.
Inventory decreased by 8% and sales decreased by 25%.
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Thoughts on the May 2009 Seattle Eastside real estate market:
- May is the second month in a row for the odds of selling a Seattle/Eastside home falling in double digit range.
- Most eastside neighborhoods had 17% odds of homes selling. Seventeen out of 100 homes had offers accepted last month and are now pending.
- Best odds of selling: Redmond, near Microsoft, and East Bellevue with a 23% chance.
- Most difficult odds of selling: Kirkland with a 12% chance.
- The stand-out area, which is often the case, is East Bellevue and Redmond, close to Microsoft. This area’s absorption rate was the last to slow down and is the first to come back to life. Twenty-three percent of the homes for sale sold there in both April and May.
- The biggest increase in the chances of getting a home sold: West Bellevue.
- The number of homes for sale is down and home sales were up all over the eastside.
- Are real estate prices increasing on Seattle’s Eastside? No, the number of sales has increased dramatically, but not the prices.
Bellevue, Hopelink, King County, Redmond, vounteering in King County
In Bellevue, WA, Issaquah, WA, King County, WA, Kirkland, Redmond, Sammamish, WA, Seattle, Woodinville, WA on May 28, 2009 at 11:54 am
Denise Stephens from Hope-link asked that I post this press release because Hope-link is in need of more volunteers:
Prospective volunteers can learn more at orientation in Bellevue, Bothell, Redmond or Carnation. Bellevue, Wash. – Hopelink, a 38-year-old nonprofit agency helping families, senior citizens and people with disabilities in east and north King County, needs more volunteers at its centers in Redmond, Bellevue, Kirkland, Shoreline, Bothell and Carnation. Hopelink relies upon volunteers for such jobs as sorting food in its food banks, helping adults learn to read or do basic math or study for the GED exams, delivering food to homebound clients, or answering phones and helping with administrative tasks. In April alone, more than 700 volunteers donated over 6,000 hours to help Hopelink programs and clients.
Hopelink continues to need new volunteers over age 16 and volunteers between the ages of 12 and 16 with parent/guardian supervision. We welcome anyone interested to an orientation meeting to learn more about Hopelink and its many volunteer opportunities. Space is limited and orientation sessions start promptly, so please arrive early. • Wednesday, June 3, 2009, at Hopelink’s Bellevue center in the Learning Center conference room, 14812 Main St., in Bellevue. (Note: this is a new location for the Bellevue orientations.) Parking is limited on site.
Please contact the Volunteer Coordinator at volunteer@hope-link.org for information about off site parking options. This location is served by Metro routes 221 and 247. An afternoon orientation will start promptly at 1:00 p.m. and end at 2:30 p.m. An evening orientation will start promptly at 7:00 p.m. and end at 8:30 p.m. • Thursday, June 4, 2009, from 10:00 to 11:30 a.m. at Hopelink’s Bothell center, 18220 96th Ave. NE in Bothell. • Tuesday, June 9, 2009, from 5:00 to 6:30 p.m. at Hopelink’s Redmond center. The orientation will be held in the Rainier Room conference room of the Family Resource Center complex (where Hopelink is located), Building A, 16225 NE 87th St., in Redmond. The Redmond volunteer orientation is a new addition to the schedule. • Wednesday, June 10, 2009, from 2:00 to 3:30 p.m. at Hopelink’s Carnation center, 31957 Commercial Street in Carnation.
For more information, go to www.hope-link.org/takeaction/volunteer. For information on how young people between middle school and high school age can help Hopelink, please visit http://youthlink.hope-link.org/ Since 1971, Hopelink has helped homeless and low income families, children, seniors and people with disabilities make lasting change in their lives. Hopelink promotes self-sufficiency by helping people meet their needs for food, shelter, homelessness prevention, family development, transportation and adult literacy. For more information on Hopelink and its services, call 425.869.6000 or visit www.hope-link.org.
$8000 first time home buyer tax incentive, Bellevue Real Estate, buying a condo on Seattle’s eastside, Issaquah Real Estate, Kirkland real estate, Redmond real estate, Sammamish real estate, selling a condo on Seattle’s eastside, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, financing, market statistics, real estate on May 19, 2009 at 5:52 pm
Seattle Eastside April 2009 condo real estate statistics
April, 2009 1315 condos for sale,177 sold, 13% chance of selling a condo
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
(pended means the number of condos that got offers this month)
Much good news for the Seattle-Eastside condo sales during April, 2009. April represented the highest number of condo sales on Seattle’s eastside since June, 2008. Only 15 more condos were offered for sale, but 67 more sold in April than in March. I’m sure the first time home buyer credit is spurring on all the activity.
The other piece of good news is HUD, the office of Housing and Urban Development, announced the $8000 first time home buyer tax credit can be used towards a buyer’s down payment. This is a boon to first time buyers. The actual workings of the program have not been released yet, but I will report on it as soon as I hear about it. If you have a lender you trust, you can also contact them to get more information about the program. Remember, the tax incentive must be used before December 1st, 2009. To be safe, if you plan to use it, you should consider buying before the end of October, so your home or condo purchase will close in time for you to be eligible for the credit.
Bellevue Real Estate, buying a home in Seattle, buying a home on Seattle’s eastside, Issaquah Real Estate, Kirkland real estate, Redmond real estate, Seattle Eastside real estate, Seattle real estate, selling a home in Seattle, selling a home on Seattle’s eastside, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, financing, real estate on May 15, 2009 at 7:32 am
Seattle Eastside Real Estate Activity April 2009
The media was hopping with news stories about the increase in April, 2009 real estate sales in the Seattle area. Local TV stations KOMO and KING5, both had reports on the more positive real estate market. The Seattle Times, Seattle PI.com, and BizJournals all had stories with the same theme.
The chances of selling a home on the Eastside in April 2009 ranged from a low of 10% to a high of 23%, with an average 16% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.) Numbers will be rounded off to the nearest whole number, unless the number is exactly .5% between two numbers.
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
April, 2009 3600 homes for sale 573 homes sold 16% chance of selling.
March, 2009 3711 homes for sale 372 homes sold 10% chance of selling.
April, 2008 4017 homes for sale 489 homes sold 12% chance of selling
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(This monthly Seattle/Eastside real estate report now includes the chart above because it’s clear and easy to read. You can still find the MLS charts by clicking on each of the cities below. Those charts have some of the same information as the chart above, but also show the real estate trends for the last 5 years, including median pricing for each city and whether the number of homes for sale and the number of sales are up or down. If you look at the charts by city, you’ll notice the total number of homes for sale and the number of homes sold can vary slightly from the chart above. This is because the information for the charts is gathered at slightly different times. Regardless of the exact numbers, it’s clear the charts show the same trends, which is the most important piece of information.)
(click on city names for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall Ciy
Median sales price decreased by 12% from $597,639 to $524,000.
Inventory was down by 12% and sales were down by 12% from last year.
West Redmond/East Bellevue
Median sales price decreased from $608,998 to $500,000 a decrease of 18%.
Inventory was down 6% and sales were up 15%.
South Bellevue
Median price increased by 8% from $600,000 to $649,900.
Inventory was down by 15% and sales were up 70%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
Median price was down to $399,950 from $484,450, a 17% decrease.
Inventory was down by 6% from last year and sales were up by 44%.
Kirkland
Median price decreased by 8%, from $707,950 to $649,000.
Inventory was down by 8% and sales were up by 9.5%.
West Bellevue
Median pricing decreased by21% from $1,399,000 to $1,100,000.
Inventory increased by 5 % and sales increased by 18.5%.
Redmond/Education Hill/ Carnation
Median pricing decreased by 14% from $652,450 to $554,950.
Inventory decreased by 9% and sales decreased by 5%.
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Thoughts on the April 2009 Seattle Eastside real estate market:
- Ok, everyone, take a deep breath. Things are looking up! Seattle -Eastside homes are selling. Every eastside area had a double digit absorption rate, for the first time in months.
- All areas saw some very positive changes this past month. The positive changes are in bold print. Everycity had some positive change in the real estate activity. The number of homes for sale, the inventory, was down in every city, except one. The number of homes sold was up in all cities except two!
- The stand-out area, which is often the case, is the area in East Bellevue and Redmond, close to Microsoft. This area’s absorption rate was the last to slow down and is the first to come back to life. Twenty-three percent of the homes for sale sold there last month.
- Are real estate prices increasing on Seattle’s Eastside? No, the number of sales has increased dramatically though.
- April had the most number of home sales since June of last year. In King County overall, six of the last ten weeks have had the most number of sales since July, 2007.
- In some areas on Seattle’s Eastside, we are seeing a more balanced market between buyers and sellers.
- The $8000 buyers credit will now be available for a down payment. This is great news, which should help bolster the real estate market even more.
Bellevue, Eastside, Expedia, living in Seattle, living on Seattle's eastside, Microsoft, Nintendo, Seattle, Seattle/Eastside
In Bellevue, WA, Exploring the Eastside, Seattle, WA on April 3, 2009 at 3:37 pm
Ever since I moved to the Seattle/Eastside (or the Eastside) in 1986, there’s been a rivalry between the eastside of Lake Washington, the eastside, and the westside of the lake, Seattle. I remember picking up a postcard back then with a drawing of a car crossing over to the eastside on the 520 bridge. The caption on the card said, “Honk if you love mauve.” Of course, all home owners on the eastside had the very latest colors, mauve and gray, and all home owners on the eastside did the exact same thing. Seattleites thought there was nothing over here on the “plastic” eastside, but plastic houses filled with plastic people. Everyone lived in a cookie cutter home decorated in mauve and gray, on a cookie cutter cul-de-sac, with 2 kids, 2 cars, and 2 car garages.
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Of course, we on the eastside have always known this was not true. There are cookie cutter neighborhoods, but there are slick contemporary homes, mid-century modern homes, mid-entry homes, old bungalows, and McMansions. You can choose to live in a variety of neighborhoods, in a variety of homes, on a tiny lot or acreage, within walking distance of shops and restaurants or in rural privacy.
But more importantly, the eastside is filled with a diverse population. It’s a veritable melting pot with people of all ages, from all over the world, with a variety of interests and lifestyles-very much like the population of the westside of the lake, Seattle.
Fast forward to 2009. The eastside or Seattle’s eastside is now the economic center of the region. The reverse commute is worse than the commute into Seattle. (Thank you Microsoft, Nintendo, Expedia, etc) Bellevue’s downtown is fast becoming a hotbed of luxury shopping, dining, living, and working. Seattle Metropolitan magazine had a recent issue on the terrific economic growth of the eastside.
It’s time to throw down the boxing gloves and declare a truce. Seattle and Seattle’s eastside are both great areas. We grow and prosper because of each other, not in spite of each other. The eastside is an outgrowth of Seattle and we would not be here without it. Seattle would not be thriving if it weren’t for the eastside.
Lisa Hilderbrand was right when she responded to a comment on a post to someone who asked about her using the name the Seattle/Eastside. The comments in her post prompted this piece. Most people outside of this area have no clue where and what the eastside is without the name Seattle attached to it. Mmm..makes me think I should change the name of this blog to Seattle/Eastside Real Estate Buzz. (By the way, you should check out the link to Lisa’s post, she has some gorgeous eastside photos.)
So which is it? The Seattle/Eastside or the Eastside? Does the Eastside stand alone?
buying a home, real estate, Seattle Eastside real estate, Seattle real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, real estate, real estate opinion on March 9, 2009 at 1:12 pm
The Seattle press has been talking about the latest real estate statistics as they usually do at the beginning of each month. This month’s Seattle Times article highlighted a multiple offer situation for a home in Seattle.
Are multiple offers happening on Seattle’s Eastside? Yes. My team sold a home in which our buyer’s offer was one of three offers. Our buyer’s offer was accepted.
Why was this home one that three buyers wanted at the same time? The home was originally listed at $625,000. It was reduced to $574,950 and then finally to $550,000. At that price it was a screaming deal. Here are the specs on the home:
- Newer style, two story-11 years old.
- Great location with easy freeway access.
- 2330 square feet with 3 bedrooms, den, and bonus.
- 5 piece master bath.
The competition in the immediate area for the same price:
$549,900 1967 square feet, 3 bedrooms, 2.5 baths, built in 2001, Approx 363 smaller than the home we sold.
$549,999 2620 square feet, 4 bedrooms, 2.5 baths, new construction. Built close to the freeway, so noisy location.
$550,000 2440 square feet 3/2.5 mid-entry built in 1976 with a view. Older home, different style.
$550,000 2240 square feet, 3/1 bath. Value in land, not the home.
The nearby competition was not as good a value as this home. The only home that was remotely close to the one we sold is the first home on the list above. It, too, is a newer style two story, but almost 400 square feet smaller for virtually the same price. The smaller home helped to sell the home the buyer’s bought because in comparison, the smaller home was not a great value.
Moral of the story: price your home ahead of the competition to get noticed and get the offers.
American Red Cross, cold weather, cold weather home care, freezing temperatures, frozen water pipes, home maintenance, KIRO TV, protecting water pipes
In Bellevue Real Estate, Bellevue, WA, For Homeowners, Home maintenance tips, Local news and information, real estate on December 17, 2008 at 12:36 pm
John Muir Elementary, Kirkland Boys and Girls Club, real estate, Target, Target for Kids, Windermere, Windermere Real Estate
In Bellevue, WA, not real estate, real estate on December 8, 2008 at 6:19 pm
Saturday morning a number of Windermere Realtors from the eastside offices met at Target in Factoria to help some local kids buy Christmas gifts for their families. Windermere Real Estate/East, Inc, one of the largest Seattle/Eastside real estate companies, sponsors an annual holiday program, Target for Kids, to help kids buy Christmas presents for their families. The company decided a number of years ago to forgo a Christmas party and have a “shoppping party” for kids.
We had to be at Target at 7:45 AM to meet our shoppers. This was slightly better than the usual 6:45 AM meeting time when I usually have to keep my eyes open with toothpicks! My Windermere office, the Yarrow Bay office, worked with children from Kirkland’s Boys and Girls Club. The kids are always very appreciative and fun to shop with. 
Each Realtor is armed with a gift card for $175.00 and a list of gift requests from the shopper’s family. 
With that and a warm coffee for me, we were off and cruising the aisles, ready to shop.
This year I was assigned to help an 11 year old boy from John Muir Elementary School. He knew exactly what his brothers wanted and quickly zeroed in on gifts. Our only disappointment was one brother wanted Sonic the Hedghog, but it (he) was nowhere to be found in Target. My shopper settled on some Transformers for his brother. This year my shopper was able to buy two gifts for each brother since each of the gifts ran on average $20.00. The kids do not know that they also are able to pick a gift out for themselves. It’s a nice surprise for them.
After we shop, the gifts went to a wrapping area where a group of Windermere wrappers (no, not rappers) worked hard to get all the gifts in holiday wrapping paper. 
Those of us who had braved the aisles and were heavily shopping could then kick back and relax.
The kids are always appreciative and fun to shop with. It is one of the highlights of the season for me.
condo buyers, condo buying, condo sellers, condo selling, condominium sales, condominiums, real estate, sales absorption rate, Seattle/Eastside, Seattle/Eastside real estate, town home sales. town home buyers, town homes
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on November 21, 2008 at 2:09 pm
Sellers had a 12% chance of selling a condo on Seattle’s Eastside in October, 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
October, 2008 1324 condos for sale, 153 condos sold, 12% chance of selling.
September, 2008 1414 condos for sale, 173 condos sold, 12% chance of selling.
October, 2007 1121 condos for sale, 202 condos sold, 18 % chance of selling.
The number of condos/ town homes for sale on the Eastside is dropping from its summer high. The chance of selling a condo, however, has remained pretty constant throughout the year with 12-13% of the available condos selling each month.
Median pricing was down this month by about 13%, dropping from $345,416 to $300,215. Inventory is up by 18% from last October and sales have dropped by 24%.
I’ve seen some great condos sell and all of the ones that have sold were well priced and showed well, the key to success in this market. Sellers must be ahead of the curve in pricing or they stay among the pack of available condos.
Bellevue, Bellevue Real Estate, Carnation, Eastside real estate, Education Hill, home buyers, home sellers, home selling, Issaquah, King County Real Estate, Kirkland, Kirkland real estate, market statistics, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle, Seattle Eastside, Seattle real estate, union Hill, WA, WA real estate, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on November 20, 2008 at 4:46 pm
The chances of selling a home on the Eastside in October 2008 ranged from a low of 6% to a high of 11%, with an average 8% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.) Numbers will be rounded off to the nearest whole number, unless the number is exactly .5% between two numbers.
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
October 2008 3975 homes available, 320 sold, 8% chance of selling.
September 2008 4117 homes available, 513 sold, 12% chance of selling.
October 2007 3398 homes available, 461 sold, 14% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 9 % chance of getting a home sold, DOWN from 14% last month and DOWN from 17% last year. Median home prices were essentially the same, from $559,000 to $559,194. Inventory was up by 13% and sales were down by 40% from last year.
West Redmond/East Bellevue
Sellers had a 11% chance of getting a home sold, the SAME as last month, and DOWN from 14 % last year. Median sales price decreased from $609,950 to $484,725, a decrease of 20.5%. Inventory was up 13% and sales were down 10%.
South Bellevue
Sellers had an 8% chance of getting a home sold, the same as last month, and DOWN from 12% last year. Median price decreased by 14% to $569,900 from $664,950. Inventory was up 5% and sales were down 32%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
Sellers had a 9% chance of selling a home, DOWN from 12% last month and DOWN from 13% last year. Median price was down to $533,925 from $549,250, a 3% decrease. Inventory was up by 17.5% from last year and sales were down by 17%.
Kirkland
Sellers had a 6% chance of selling a home, DOWN from 9% last month and DOWN from 11% last year. Median price increased by 8%, to $709,475 from $657,475. Inventory was up by 17% and sales were up down by 41%.
West Bellevue
Sellers had a 6% chance of selling a home, DOWN from 8% last month, and DOWN from 10% last year. Median pricing decreased by 6% to $1,399,000 from $1,492,000. Inventory increased by 45.5% and sales decreased by 9%.
Redmond/Education Hill/ Carnation
Sellers had a 7% chance of selling a home, DOWN from 17% from last month, and DOWN from 16% last year. Median pricing decreased by 21% (oops, typo of 421% before!) from $599,475 to $472,425. Inventory increased by 24% and sales decreased by 44%.
October has been the toughest month to get a home sold on the eastside so far this year. This is not a big surprise, given the volatility of the economy, the bailout, and the pre-election jitters. Most neighborhoods saw the chances of selling drop to the single digits, with the exception being the East Bellevue and Redmond area around Microsoft. Eleven percent of the homes for sale in that area received offers last month, while it was toughest to get a home sold in Kirkland as only 6% of the homes sold.
Every area on the eastside experienced a decline in the number of sales when compared to October of last year. Ironically, most of this September’s sales were higher than September of last year. The number of homes for sale on the Eastside has dropped back below 4000 homes for the first time this year.
Median prices have dropped back, in many cases, to 2006 levels. In some areas, such as East Bellevue and Redmond around Microsoft, the median price has dropped below $500,000 for the first time since the beginning of 2006. Even though the number of sales are down, the median price continues to jump up or down. In Kirkland, the toughest area for a sale last month, prices went up almost 8%, while in Sammamish, sales were down, but prices remained stable. As I’ve mentioned in the past, it’s important to look at trends in each area over a few months. Prices and sales go up and down in each area and there isn’t always a correlation between the two.
Will things continue to drop or will they stabilize? Having the election behind us and giving the country a more optimistic focus than we have seen in a long time, it will be interesting to follow. It take a few months after the election before we see any changes.
But if you follow Forbes magazine, Seattle is looked at as the number one city to bounce back.
California desert, California desert real estate, Dinah Shore, Donald Wexler, Greta Garbo, Kenmore Undressed, mid-century modern, Palm Springs, Windermere Real Estate
In Bellevue Real Estate, Bellevue, WA, architecture, real estate, real estate opinion on November 10, 2008 at 12:54 pm
James Lupori of Kenmore Undressed commented on my post in which I had said I’d been down in the California desert for some work (some) and some play (lots). I told him I hadn’t taken a lot of pictures, but thought I would share some of the differences with the architecture and real estate down there as compared to the Northwest.
In Seattle, people are more private about who owns what and where it is located. Most people know where Bill Gates’ home is, especially since the tour boats go by everyday in the summer. But there are many celebrities’ homes that are hidden away and private. There’s a different celebrity mentality in the desert, possibly because of the Hollywood “glamor” influence. Homes become associated either with the famous person who lived or lives in the home or the architect who designed it. There’s the Elizabeth Taylor house, the Frank Sinatra house, and the Bob Hope house, just to name a few.
There’s The Kaufmann House in Palm Springs, which I wrote about this past spring when it went to auction at Sotheby’s as an art piece and sold for $15 million.
The Kaufmanns were a Pittsburgh department store family who had, arguably, one of the most iconic mid-century homes built in the California desert. The Kaufmanns built the home in the 1940′s, but the home will forever be associated with them, even though it is on its 3rd (or 4th) owner!
While in the desert, I had the good fortune to be invited to The Dinah Shore house. This home is privately owned, but was opened for a party. Donald Wexler, an architect famous for his mid-century modern designs which decorate the Coachella Valley, created the home. (If you click on the link to Wexler, you can see photos of his work, including the Dinah Shore house.) With unbelievable spaces, clean lines, high ceilings, walls of glass framing the mountain views, and fabulous materials, the home is drop dead gorgeous. (I feel like I’m writing a real estate ad.)
In Seattle and on the eastside, there are some neighborhoods with the mid-century flair, but they are few and far between. I wrote a piece a couple of months ago about Hilltop in Bellevue, a unique neighborhood of mid-century homes built by Seattle architects in the late 40′s and early 50′s. Lake Hills, built in the 1950′s, in Bellevue is a huge neighborhood of mid-century homes. When it was built, it was one of the Eastside’s cutting edge suburban developments. The homes in Lake Hills share some of the same mid-century styling with big windows and clean lines, but on a much smaller scale.
Since it’s a private home, I was not able to take photos of the Dinah Shore house, but was able to take some photos of The Greta Garbo house. The Garbo house is now on the grounds of the La Quinta Resort, which is where the Windermere Real Estate Symposium was held. Garbo’s house is more typical of the Spanish style found in many of the 20th century desert homes. Spanish styling is incredibly popular, along with the mid-century dynamic in the California desert. What a great place for the party that was going on!
However, Spanish architecture is fairly rare in the Seattle area. Perhaps our cooler weather lends itself to other styles? Many Spanish style homes are oriented to the outdoors with large patios and courtyards. The Garbo house is divided into two buildings with a massive courtyard, fountain, and fireplace in the middle, which you can see in the first photo of the Garbo house above. The dining room and kitchen were in one building while the other living spaces were across the courtyard. We were only allowed into certain rooms, but we were still able to get a feel for the Moorish/Spanish style used in the home.
Oh by the way, the desert is also famous for its mountains, but they are just a tad drier than the Cascades in the Northwest and not too many evergreens can be found!
Bellevue, Bellevue Washington, green building, Issaquah Undressed, Mercer Slough Environment Center, Pacific Science Center, sustainable living
In Bellevue, WA, Built Green and Sustainable Living, Energy conservation, For Homeowners, Local news and information on November 7, 2008 at 4:01 pm
The City of Bellevue and The Pacific Science Center have joined forces in Bellevue to create The Mercer Slough Educational Center. Here’s a link to a great article written by Kathleen Cragun on Issaquah Undressed regarding the new eco-friendly center down by the Mercer Slough in central Bellevue. I wasn’t able to make the opening for the center, but think people should know about Bellevue’s commitment to eco-friendly, “green” ideals and the partnership with the Pacific Science Center. Kathleen took some great photos of the center which has some wonderful architecture and eco-friendly designs.
I also found a link to an article written about the metal spans used to build the center.
“The Environmental Education Center uses energy efficient Span-Lok hp metal roofs in Cool Metallic Silver to limit heat island effects, demonstrating how homes can be “green” using metal.”
The center will provide training in “green” techniques for people of all ages. Come on down and visit the center at 1625 118th Ave SE in Bellevue. It’s a hop, skip, and a jump from I-90 and downtown Bellevue.
Bellevue, Bellevue Real Estate, Carnation, Eastside real estate, Education Hill, home buyers, home sellers, home selling, Issaquah, King County Real Estate, Kirkland, Kirkland real estate, market statistics, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle, Seattle Eastside, Seattle real estate, union Hill, WA, WA real estate, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate, real estate opinion on October 15, 2008 at 10:05 pm
The chances of selling a home on the Eastside in September 2008 ranged from a low of 8% to a high of 17.5%, with an average 12% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.) Numbers will be rounded off to the nearest whole number, unless the number is exactly .5% between two numbers. (Revised numbers)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
September 2008 4117 homes available, 513 sold, 12% chance of selling.
August 2008 4240 homes available, 503 sold, 12% chance of selling.
July 2008 4332 homes available, 543 sold, 12.5% chance of selling.
September 2007 3529 homes available, 443 sold, 12% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 14% chance of getting a home sold, UP from 13% last month and DOWN from 15% last year. Median home prices were down by 14%, from $602,500 to $519,000. Inventory was up by 10% and sales up by 1.5% from last year.
West Redmond/East Bellevue
Sellers had a 17.5% chance of getting a home sold, DOWN from 19% last month, and DOWN from 19 % last year. Median sales price decreased from $575,000 to $550,000, a decrease of 5%. Inventory was up 24% and sales were up 16%.
South Bellevue
Sellers had a 11% chance of selling a home, THE SAME as last month and UP from 10% last year. Median price decreased by 5% to $594,500 from $627,250. Inventory was up 7% and sales were up 19%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 12% chance of selling a home, UP from 11% last month and DOWN from 13% last year. Median price was down to $459,950 from $495,000, a 7% decrease. Inventory was up by 19% from last year and sales were up by 15%.
Kirkland
Sellers had a 9% chance of selling a home, THE SAME as last month and DOWN from 12.5% last year. Median price increased by 2%, to $695,000 from $679,975. Inventory was up by 20% and sales were up by 17%.
West Bellevue
Sellers had a 8% chance of selling a home, UP from 6% last month, and THE SAME as last year. Median pricing decreased by 15% to $1,314,000 from $1,550,000. Inventory increased by 49.5% and sales increased by 53%.
Redmond/Education Hill/ Carnation
Sellers had a 17% chance of selling a home, UP from 14% from last month, and UP from 11% last year. Median pricing decreased by 4.5% from $549,950 to $525,000. Inventory increased by 11% and sales increased by 58.5%!
Most eastside neighborhoods showed similar real estate activity in September as in August. The chances of selling a home hardly varied with the exception of the Redmond’s Education and Novelty Hill areas and Carnation. The area experienced a 3% increase over August activity. This area also saw the largest increase in sales from last September, 58% more homes sold.
Homes in West Bellevue had only an 8% chance of selling. However, West Bellevue had a huge increase in inventory, almost 50%, resulting in 53% more sales this year than last year at this time.
All the eastside areas dropped in median pricing, with the exception of Kirkland, which was up 2% this month.
The chances of selling a home on the eastside have not varied much in most neighborhoods over the past few months. However, in almost all neighborhoods, prices are down and inventory and sales are up.
Bellevue Towers, condominiums, high end condos, High End Eastside condos, KPLU, MLS, real estate, Seattle, Seattle/Eastside, Seattle/Eastside condominiums, Seattle/Eastside real estate, The Bravern
In Bellevue Real Estate, Bellevue, WA, Debra Sinick, For Buyers, For Homeowners, For Sellers, King County Real Estate, Kirkland, Real Estate News, Seattle real estate, market statistics, real estate, real estate opinion on October 2, 2008 at 3:56 pm
This morning KPLU had a story about high end condo real estate in Seattle and on the Eastside. Richard Hagar, the appraiser interviewed for the story, called condos priced above $5 million dollars as the high end, and, he says, these condos are in demand.
I was curious to know how may condos were for sale on Seattle’s Eastside in this price range and if any had sold. I checked the MLS and right now there are two condos priced above $5 million, both new construction in downtown Bellevue.
The most expensive condominium home is the penthouse at Bellevue Towers. It’s priced at $9.2 million with 6397 square feet, 4 bedrooms, and 4.5 baths.
The runner-up is priced at $5.2 million and is located in The Bravern, just a few blocks away. This condominium home is 3923 square feet and has 3 bedrooms and 3. 5 baths.
How many condominiums on the Eastside are priced between $4-5 million? 2
between $3-4 million? 4
between $2-3 million? 11
between $1-2 million? 75
How many condominiums have sold in the last 6 months for more than $5 million? none
between $4-5 million? none
between $3-4 million? 3 pending
between $2-3 million? none
between $1-2 million? 29
Is the high end really above $2 million on the Eastside, not $5 million? The number of condominiums available above $2 million drops dramatically from the condos available between $1-2 million. Seventeen condos are priced above $2 million. There are 75 condos between $1-2 million and 29 are pending or closed sales. Above the $5 million range, there haven’t been any sales and only 3 condos have sold between $2-5 million in the last six months.
We all know most people cannot afford the million dollar range of homes or condos, but it looks as if there is a high end real estate market between $1-2 million and an “ultra high end” when we talk about the Seattle/Eastside condo market.
Kirkland, King County, rails to trails, commuting, Sound Transit, BNSF rail line, Microsoft, Ron Sims, buses, Kirkland Washington, bus systems, Eastside Transportation Association, going green, ST 2, Microsoft Connector Shuttle Service
In Bellevue, WA, Debra Sinick, Exploring the Eastside, For Homeowners, Issaquah, WA, King County, WA, Kirkland, Local news and information on September 29, 2008 at 9:30 pm
Microsoft gets it. The Seattle Times gets it. The Eastside Transportation Association gets it. Ron Sims gets it. Each one of these organizations/people are doing something about better transportation and/or voicing their opinion about transportation systems that will work in King County and on the Eastside.
Microsoft is already doing it. It has a world class shuttle/bus/car system to meet the commuting needs of its employees, cutting down on the number of single car trips and, ultimately, reducing the carbon footprint of Microsoft.
The Seattle Times has come out against the Sound Transit ballot measure. The newspaper, too, recognizes the need for better transportation. The Times doesn’t believe this ballot measure will solve our transportation problems, partly because of its exorbitant cost and, partly, because of the many years it will take to complete the light rail system without any relief to our existing transportation problems. From The Seattle Times editorial:
“Buses are cheaper than rail and more flexible. Proposition 1 slights them: The two center lanes on the Interstate 90 bridge, which now serve buses and Mercer Islanders, become rail-only. Buses are kicked out. Buses will also be kicked out of Seattle’s downtown transit tunnel.
Finally, it is said that Proposition 1 is not about us, but our grandchildren. So it is. It is a proposal to extend two costly rail lines and to oblige our grandchildren to pay for them. The sales tax is raised to 9.5 percent. It is a lot, and it goes on for a very long time.”
The Sound Transit plan is very long term, but does not prepare King County and the eastside for today’s commuter needs. I can’t imagine what a mess will exist on our roads for the next decade if this plan gets passed.
What do you think about Sound Transit’s proposal?
Bellevue, Cascade Harvest Coalition' Helping Hands Project, Edward James Olmos, Full Circle Farms, Hopelink, Hopelink Food Banks, Hopelink's Annual Reaching Out Luncheon, Meydenbauer Center
In Bellevue, WA, Local news and information, Services, not real estate on September 21, 2008 at 3:07 pm
Emmy-winning and Oscar nominated actor Edward James Olmos will be the keynote speaker at Hopelink’s 13th annual Reaching Out Luncheon to be held Monday, October 20, 2008, at Bellevue’s Meydenbauer Center. This is the most important yearly fundraiser for Hopelink, the Eastside’s largest social services agency working with poor families and the homeless. Last year, supporters raised a record one million dollars to help people in need in the community. For more information, click on the above link to Hopelink.
Volunteers are needed on the farm to help with stream restoration in exchange for produce donations to Hopelink food banks.
Sponsored by Cascade Harvest Coalition’s Helping Hands Project and Full Circle Farm.
Full Circle Farm, 31904 N.E. 8th St., Carnation
- Saturday, September 13, 10:00 am – 2:00 pm
Ames Creek Farm, 27307 N.E. 100th, Carnation
- Saturday, October 11, 10:00 am – 2:00 pm
- Saturday, October 18, 10:00 am – 2:00 pm
More information here. To register, contact Tim Bernthal, 206.783.3088 or email him at tbernthal@gowebway.com.
Hopelink’s 8th Annual Turkey Trot scheduled for November
condo buyers, condo buying, condo sellers, condo selling, condominium sales, condominiums, real estate, sales absorption rate, Seattle/Eastside, Seattle/Eastside real estate, town home sales. town home buyers, town homes
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA Real Estate, market statistics, real estate on September 18, 2008 at 3:25 pm
Sellers had a 13% chance of selling a condo on Seattle’s Eastside in July of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
August, 2008 1456 condos for sale, 195 condos sold, 13% chance of selling.
July, 2008 1476 condos for sale, 187 condos sold, 12.7% chance of selling.
August, 2007 1002 condos for sale, 309 condos sold, 37% chance of selling.
Throughout the summer months, the chances of selling a condo have been pretty similar with about 12-13% of the condos receiving offers and selling each month. The number of available condos is only slightly less than last month. Still, the condo prices have gone up a bit, with a 2% increase this month. Each area on the Eastside of Seattle varies, however, and in some areas the competition is very stiff and values are lower. The best of the best are selling. Those condos that are overpriced are sitting on the market and helping the other condos to sell first.
Bellevue, Bellevue Real Estate, Carnation, Eastside real estate, Education Hill, home buyers, home sellers, home selling, Issaquah, King County Real Estate, Kirkland, Kirkland real estate, market statistics, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle, Seattle Eastside, Seattle real estate, union Hill, WA, WA real estate, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Real Estate News, Redmond, Seattle real estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on September 18, 2008 at 2:49 pm
The chances
of selling a home on the Eastside in August 2008 ranged from a low of 6% to a high of 19%, with an average 12% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.) Numbers will be rounded off to the nearest whole number, unless the number is exactly .5% between two numbers.
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
August 2008 4240 homes available, 503 sold, 12% chance of selling.
July 2008 4332 homes available, 543 sold, 12.5% chance of selling.
August 2007 3336 homes available, 643 sold, 19% chance of selling.
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(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 13% chance of getting a home sold, UP from 12% last month and DOWN from 21% last year. Median home prices were up by 4%, from $549,250 to $572,000. Inventory was up by 19% and sales declined by 22% from last year.
West Redmond/East Bellevue
Sellers had a 19% chance of getting a home sold, UP from 16% last month, and DOWN from 25 % last year. Median sales price decreased from $582,475 to $549,000, a decrease of 6%. Inventory was up 43% and sales were down 12%.
South Bellevue
Sellers had a 11% chance of selling a home, DOWN from 14% last month and DOWN from 20% last year. Median price decreased by 8.5% to $592,475 from $647,800. Inventory was up 14% and sales were down 38%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 11% chance of selling a home, DOWN from 15% last month and DOWN from 16% last year. Median price was down to $478,062 from $502,500, a 5% decrease. Inventory was up by 30% from last year and sales declined by 14%.
Kirkland
Sellers had a 9% chance of selling a home, DOWN from 10% last month and DOWN from 14% last year. Median price declined by 11%, from $649,950 to $585,000. Inventory was up by 29% and sales were down by 14.5%.
West Bellevue
Sellers had a 6% chance of selling a home, UP from 5%, and DOWN from 19% last year. Median pricing decreased by 37% to $999,950 from $1,582,500. Inventory increased by 73% and sales declined by 42%.
Redmond/Education Hill/ Carnation
Sellers had a 14% chance of selling a home, the same as last month, and DOWN from 26% last year. Median pricing decreased by 8% from $650,000 to $599,950. Inventory increased by 19% and sales dropped by 34.5%.
July and August’s market activity was very similar, with most neighborhoods seeing the same chances for selling in both months. However, the top area for sales on the Eastside, with the largest increase in chances from last month, was the East Bellevue/West Redmond/Microsoft area. The chances of selling your home in South Bellevue, North Kirkland, Woodinville, Kenmore, Bothell, and Duvall dropped by few percentage points. For the first time this year, West Bellevue’s median price dipped below $1,000,000. We’ve not seen median pricing in West Bellevue below $1,000,000 since 2006.
To determine the most realistic view of the market, look at several months worth of data. Pay particular attention to the amount of homes for sale in your area. Regardless of what’s happened in the previous months, make sure you know the actual competition in your area before establishing a sales price and going on the market.
Be the best home out there and your home will sell. People are still relocating, changing jobs, needing more space, reasons that still exist for making a move.
The Seattle/Eastside area is still far more fortunate than many other areas of the country. For example, Southern California is looking at a 34% price drop from last year.
Bellevue, Bellevue high rise condos, Bellevue Real Estate, Bottega Veneta, Fifth Avenue, Hermes, Jimmy Choo, John Howie, Magnificent Mile, Microsoft, Neiman Marcus, Rodeo Drive, Seattle, Seattle Eastside, Seattle luxury brand shopping, The Bravern, The Red Door Spa, Wild Ginger
In Bellevue Real Estate, Bellevue, WA, Exploring the Eastside, For Buyers, Local news and information on September 11, 2008 at 10:28 am
Another luxury brand has been snagged by The Bravern in Bellevue. The Eastside of Seattle is becoming the Seattle/Eastside’s answer to New York’s Fifth Avenue, Beverly Hills’ Rodeo Drive, and Chicago’s Magnificent Mile with the presence of Hermes, Jimmy Choo, The Red Door Spa, Bottega Veneta, and Neiman Marcus. The move on the part of all these shops to Bellevue’s Bravern is testament to the economic clout of Seattle’s Eastside. Here’s the notice I received from Margaret Nicoll about the latest Bravern happenings:
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“French Luxury House To Open
First Northwest Store At The Bravern
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BELLEVUE, WA (September 9, 2008)- The French luxury house of Hermès will open in The Shops at The Bravernin the fall of 2009. The Bravern will be Hermès’ first location (2,100 square feet) in the Pacific Northwest where the historic retailer joins a noteworthy line-up of firsts for the Pacific Northwest, including Neiman Marcus, Bottega Veneta, Jimmy Choo, Red Door Spa and DavidBartonGym. Schnitzer West has also announced Louis Vuitton and two local landmark restaurants, John Howie Steak and Wild Ginger, as part of the retail mix.
The Bravern is currently under construction and scheduled for completion in 2009. The 1.6 million square foot development in downtown Bellevue, WAwill include approximately 305,000 square feet of fashion-leading retail and restaurants anchored by a 125,000-square-foot Neiman Marcus, 455 Signature Residences in two elegant condominium towers and two office buildings, which have been fully leased to Microsoft. When finished, the five-acre site will feature a vibrant outdoor village with gracious arrival courts and European-style piazzas as well as include a 35-acre subterranean parking garage with 3,100 stalls. The Bravern will accommodate 2,300 Microsoft employees, approximately 1,000 homeowners and employ between 300 and 500 staff among the retail shops and services.”
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architects, architecture, Bellevue Washington, Hilltop, Long Cove, Maine, mid-century modern, Monhegan Island, Mt. Rainier, New England, Paul Kirk, real estate, Realtor, Univ of Washington, Wendell Lovett
In Bellevue, WA, Exploring the Eastside, King County Real Estate, King County, WA, Local news and information, architecture on September 4, 2008 at 2:04 pm
- Home is similar to what you will see in the Hilltop Community
Are you interested in mid-century modern architecture? Take a tour of a unique neighborhood, Bellevue Washington’s Hilltop community on Saturday, September 6th, 2008 from 1-4 PM. Click here to get tickets for this special opportunity to see a fine example of a community planned in the late 1940′s by some of Seattle’s foremost archtects of the time, such as Paul Hayden Kirk and Wendell Lovett.
The Seattle Times had an interesting article this past spring in which it discussed the New England sensibility of the community with its one lot, one vote. The homes were designed to incorporate the views of Rainier, Seattle, and the lakes in combination with a respect for nature. The homes are on one acre lots and still have septic systems.
Many of the original home owners were University of Washington professors and local architects. Over the years, as a real estate agent, I’ve had the opportunity to see a few of the homes that have come on the market for sale, but many of the homes never reach the open market and are passed down in families. This is a great opportunity to see a few of Hilltop’s homes.
It’s ironic, because I’ve just come back from a visit to a similar type of community in Maine with one lot, one vote. The community of Long Cove shares a water system, just as Hilltop did when first developed, a clubhouse, and tennis courts. It’s along the shore near New Harbor on Maine’s mid-coast peninsula of Pemaquid. The homes are more rustic in nature than Hilltop, but the sensibility is the same. While there, I had a view of the Atlantic, lobster boats, and Monhegan Island.
It’s a little different than the Hilltop view of Rainier and Seattle, but beautiful in its own way. The Maine community dates back to the turn of the 20th century with some newer homes thrown in, whereas Hilltop is a pure mid-century modern community.
(sample of Long Cove’s older turn of the 20th century cottages)
Here’s another example of the Long Cove Point neighborhood which shows homes overlooking the cove.
Charles Anderson, a professor and home owner in Hilltop, wrote an interesting article about Hilltop. It’s an short, informative read about community flavor of Hilltop and the styles of many of the homes.
(top photo by Bill Johnson)
condo buyers, condo buying, condo sellers, condo selling, condominium sales, condominiums, real estate, sales absdorption rate, Seattle/Eastside, Seattle/Eastside real estate, town home sales. town home buyers, town homes
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on August 12, 2008 at 2:26 pm
Sellers had a 12.7% chance of selling a condo on Seattle’s Eastside in July of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
July, 2008 1476 condos for sale, 187 condos sold, 12.7% chance of selling.
June, 2008 1427 condos for sale, 194 condos sold, 13.6% chance of selling.
May, 2008 1472 condos for sale, 211 condos sold, 14% chance of selling.
July, 2007 918 condos for sale, 332 condos sold, 37% chance of selling.
The chances of selling a condo have been pretty consistent for the last three months, varying only by a percent. The number of available condos shrunk a little in June, but is now slightly over the number of condos available to buy in May.
Are condo prices still going up? Yes. However, this past month and in May, the increase in value was less than one percent. Increases in value have slowed down considerably, while the inventory and the chance of selling has stayed fairly constant. Cream puffs are selling, other condos are taking a very long time to sell. If you are buying, consider the best condo with the least amount of issues.
Is the condo located near employment, transportation, schools, shopping?
Is the condo in good condition?
Is the condo in a quiet location?
Does the condo have a strong amount in reserves?
Are the condo dues low?
Do the dues cover exterior maintanence, water, sewer, and garbage?
Anything else you should look for? Do let me know.
Bellevue, Bellevue Real Estate, Carnation, Eastside real estate, Education Hill, home buyers, home sellers, home selling, Issaquah, King County Real Estate, Kirkland, Kirkland real estate, market statistics, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle, Seattle Eastside, Seattle real estate, union Hill, WA, WA real estate, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Local news and information, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle, Seattle real estate, WA, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on August 12, 2008 at 1:58 pm
The chances
of selling a home on the Eastside in July 2008 ranged from a low of 5% to a high of 16%, with an average 12.5% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.) Numbers will be rounded off to the nearest whole number, unless the number is exactly .5% between two numbers.
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
July 2008 4332 homes available, 543 sold, 12.5% chance of selling
June 2008 4154 homes available, 635 sold, 15.2 % chance of selling.
May 2008 4349 homes available, 522 sold, 12% chance of selling.
July 2007 3253 homes available, 773 sold, 23.8% chance of selling.
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(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 12% chance of getting a home sold, DOWN from 17% last month and DOWN from 22% last year. Median home prices were up by 1%, from $569,800 to $575,000. Inventory was up by 18% and sales declined by 33.5% from last year.
West Redmond/East Bellevue
Sellers had a 16% chance of getting a home sold, DOWN from 23% last month, and DOWN from 34% last year. Median sales price decreased from $599,000 to $574,990, a decrease of 4%. Inventory was up 70% and sales were down 20%.
South Bellevue
Sellers had a 14% chance of selling a home, UP from 12.5% last month and DOWN from 23% last year. Median price decreased by 19% to $604,950 from $749,975. Inventory was up 24% and sales were down 24.5%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 15% chance of selling a home, DOWN from 15.5% last month and DOWN from 26% last year. Median price was down to $475,000 from $550,000, a 14% decrease. Inventory was up by 35% from last year and sales declined by 23%.
Kirkland
Sellers had a 10% chance of selling a home, DOWN from 16.5% last month and DOWN from 22% last year. Median price declined by 25%, from $757,475 to $569,000. Inventory was up by 25% and sales were down by 38%.
West Bellevue
Sellers had a 5% chance of selling a home, DOWN from 9.5%, and DOWN from 19% last year. Median pricing decreased by 29% to $1,354,975 from $1,748,000. Inventory increased by 85% and sales declined by 50%.
Redmond/Education Hill/ Carnation
Sellers had a 14% chance of selling a home, UP (barely) from 13% last month, and DOWN from 22% last year. Median pricing decreased by 15% from $644,435 to $549,375. Inventory increased by 18% and sales dropped by 25%.
The activity for May is included at the top of this article because July’s market performance is very similar to the market performance in May. June was a stronger month for sales for most of the Eastside neighborhoods than July has been. South Bellevue, and Education Hill, Carnation, and Union Hill areas were all stronger performing areas, but only by a fraction. Every other area of the Eastside showed less of an absorption rate than in June. West Bellevue, Medina and Clyde Hill, our most expensive areas, were hit the hardest with the biggest decline in activity and pricing.
To determine the most realistic view of the market, look at several months worth of data. Pay particular attention to the amount of homes for sale in your area. Regardless of what’s happened in the previous months, make sure you know the actual competition in your area before establishing a sales price and going on the market.
Remember sellers, it’s price and condition in this market. Homes are selling, but as we all know, there’s competition. Be the best home out there and your home will sell.
Bellevue, Bellevue Washington, Bottega Veneta, downtown Bellevue, downtown Bellevue living, Jimmy Choo, King County, Neiman Marcus, Red Door Spa, Schnitzer West, Seattle, Seattle/Eastside real estate, The Bravern
In Bellevue Real Estate, Bellevue, WA, Local news and information, Real Estate News, real estate on August 6, 2008 at 2:09 pm
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The following is excerpted from a press release from Margaret Nicoll at Gruman-Nicoll and Tami Elwin at Schnitzer West:
Top-Rated Luxury Brand To Open
First Northwest Boutique at The Bravern
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BELLEVUE, WA August 5, 2008 – When Schnitzer West opensThe Shops at The Bravern in September 2009, it will be home toBottega Veneta, rated the number one luxury brand in a recent survey conducted by the Luxury Institute. The Bravern will be Bottega Veneta’s first location in the Pacific Northwest where the leather goods purveyor joins a star-studded line-up of firsts for the region, including Neiman Marcus, Jimmy Choo and Red Door Spa.
“Bottega Veneta epitomizes the character of The Bravern in its commitment to fashion design, extraordinary craftsmanship and personal service,” says Tom Woodworth, senior investment director with Schnitzer West, developer of Bellevue’s only outdoor, upscale lifestyle shopping village.
“With the addition of retailers such as Neiman Marcus, Bottega Veneta, Louis Vuitton, Jimmy Choo and Red Door Spa, Schnitzer West has assembled a line-up that both validates the strength of the Pacific Northwest economy and will position The Shops at The Bravern and Bellevue among the top shopping destinations in the country,” says Maria Royer, principal with commercial brokers Real Retail in Seattle.
Currently under construction and scheduled for completion in 2009, The Bravern’s vibrant outdoor village will feature gracious arrival courts and European-style piazzas. The 1.6 million square foot development in downtown Bellevue, WAwill include approximately 305,000 square feet of fashion-leading retail and restaurants anchored by a 125,000-square-foot Neiman Marcus, 455 Signature Residences in two elegant condominium towers and two office buildings, which have been fully leased to Microsoft. When finished, the five-acre site will accommodate 2,300 Microsoft employees, approximately 1,000 homeowners and employ between 300 and 500 staff among the retail shops and services. The project also will include a 35-acre subterranean parking garage with 3,100 stalls.
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When I read the above press release, it is clear that even during this economic slowdown, Bellevue continues to be the stronger economic region of the Seattle/King County area. Luxury brands new to the area are choosing to move to the eastside, rather than to Seattle, because of this point.
Bellevue, Bellevue Museum Arts Fair, boots, Brian O'Neill Ceramics, Dean Pulver Studio, Doug Bloodworth, Heliotropium Art Gallery, kites, Larry Halvorsen, Mark Hudak Ceramics, Nancy Sinatra, pottery, Seth Rolland Custom Furniture, WA, windsocks
In Bellevue, WA, Exploring the Eastside, Local news and information, WA on July 29, 2008 at 5:23 pm
Every year I look forward to the annual Bellevue Arts Museum Fair in July. It’s one of the top art fairs in the country and one of the highlights of the summer for me. Each year there are some of the great standbys mixed in with some new artistic talent. Where else can you go to an art fair in a shopping mall parking garage!
Here are some of my favorites from this year’s show:
Nancy Sinatra would have thought “these boots were made for walking” by the Heliotropium Gallery in Mount Vernon, Washington.
Gorgeous ceramic vessels with an Asian esthetic were presented by Brian O’Neill.
This artful design is from Seth Rolland Custom Furniture Design in Port Townsend, WA.
Larry Halvorsen is known for his black and white pottery creations.
Mark Hudak creates wonderful, practical pieces that are very affordable and fun.
Dean Pulver from Dean Pulver Studio Furniture made this whimsical bench.
Time for a game of Monopoly? Too bad, this is actually a painting by pop artist Doug Bloodworth! The detail is just fabulous and makes you want to try to buy Park Place. What would you expect from a Realtor?
Ok, the battery in my camera died, so we have 7 favorites here, although I had many more I wanted to photograph. Another great fair this year. What were your favorites? See if we can complete the list of 10 here.
condo buyers, condo buying, condo seller, condo selling, condominium sales, condominiums, monthly real estate statistics, real estate, Seattle real estate, Seattle/Eastside real estate, town home sales, town homes
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Local news and information, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on July 17, 2008 at 8:58 pm
Sellers had a 13.6% chance of selling a condo on Seattle’s Eastside in June of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
June, 2008 1427 condos for sale, 194 condos sold, 13.6% chance of selling.
May, 2008 1472 condos for sale, 211 condos sold, 14% chance of selling.
June, 2007 840 condos for sale, 382 condos sold, 45.5% chance of selling.
The absorption rate, the chance of getting your home sold, did not vary much from May to June of this year. Inventory is actually down slightly, but the chances of selling were almost the same during the past two months.
Condo values on the Eastside continue to go up, but last month the increase was negligible at only .5% from June of last year. The actual number of sales is down considerably, by almost 50%. This means the cream of the crop of condos are getting the offers and other condos are just sitting on the market. Pick your condo/town home purchase wisely.
Bellevue, Bellevue Real Estate, Carnation, Eastside real estate, Education Hill, home buyers, home sellers, home selling, Kirkland, Kirkland real estate, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle, Seattle Eastside, Seattle real estate, union Hill, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, WA, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on July 17, 2008 at 10:23 am
The chances
of selling a home on the Eastside in June 2008 ranged from a low of 9.5% to a high of 23.2%, with an average 15.2% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
June 2008 4154 homes available, 635 sold, 15.2 % chance of selling.
May, 2008 4349 homes available, 522 sold, 12% chance of selling.
June 2007 3107 homes available, 841 sold, 27% chance of selling.
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(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 16.7% chance of getting a home sold, UP from 12.7% last month and DOWN from 25.3% last year. Median home prices were down by 2.6%, from $604,475 to $589,000. Inventory was up by 17.5% and sales declined by 22.6% from last year.
West Redmond/East Bellevue
Sellers had a 23.2% chance of getting a home sold, UP from 13.5% last month, and DOWN from 42.5% last year. Median sales price decreased from $624,500 to $549,500, a decrease of 12%. Inventory was up 80.4% and sales were down 1.3%.
South Bellevue
Sellers had a 12.5% chance of selling a home, UP from 11.5% last month and DOWN from 24.9% last year. Median price decreased by 15.7% to $588,975 from $699,000. Inventory was up 25% and sales were down 37.4%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 15.5% chance of selling a home, UP from 9.6% last month and DOWN from 26.8% last year. Median price was down to $498,875 from $522,475, a 4.5% decrease. Inventory was up by 37% from last year and sales declined by 20.9%.
Kirkland
Sellers had a 16.5% chance of selling a home, UP from 9.6% last month and DOWN from 23.5% last year. Median price declined by 4.5%, from $724,950 to $694,000. Inventory was up by 28% and sales were down by 10%.
West Bellevue
Sellers had a 9.5% chance of selling a home, UP from 7.3%, and DOWN from 34% last year. Median pricing decreased by 13.7% to $1,294,750 from $1,500,000. Inventory climbed by 95.7% and sales declined by 45.5%.
Redmond/Education Hill/ Carnation
Sellers had a 13.2% chance of selling a home, DOWN from 21.2% last month, and DOWN from 25.5% last year. Median pricing increased by 12.2% from $598,000 to $671,035. Inventory increased by 25.5% and sales dropped by 35%.
Inventory on Seattle’s Eastside dropped significantly from last month, by 195 homes, a 5% deline in inventory. All the eastside areas showed an increase in the absorption rate, the number of sales compared to the amount of homes for sale, except in the Education Hill, Union Hill, Carnation area. This area was the highest performing area last month, with the sales activity declining this month. West Redmond/East Bellevue had the best absorption rate of the Eastside once again. May was the only month this year that the area east of 405 and south of highway 908 was not the best performing area on the eastside.
To determine the most realistic view of the market, look at several months worth of data. Pay particular attention to the amount of homes for sale in your area. Regardless of what’s happened in the previous months, make sure you know the actual competition in your area before establishing a sales price and going on the market.
Remember sellers, it’s price and condition in this market. Homes are selling, but as we all know, there’s competition.
Bellevue Symetra Fourth, Bellvue downtown Park, Bothell, Chinook helicopters, fireworks, Fourth of July, Kirkland, Seattle Fourth of July celebrations, Symetra, WaMu Family Fourth
In Bellevue, WA, King County, WA, Kirkland, Local news and information, Redmond, Sammamish, WA, Seattle on July 2, 2008 at 9:49 pm
Hold on! Could it actually be sunny on the Fourth of July? Could it be great weather to celebrate the outdoors? It could be wonderful. But now I’m hearing it could be damp and rainy. I’m heading to my 23rd Fourth of July in the Seattle area and have seen more cool and damp holidays than I care to remember. I’ve heard more than once that around Seattle, “Summer begins on July 5th.” This week, starting with this past weekend, it appears that summer has arrived in full swing. Let’s hope it stays this way for the fourth.
Here’s where you can spend your Fourth of July in the Seattle area:
If you want to travel across the lake, there are the two grandaddies of all the holiday celebrations:
WAMU Family Fourth:
Rated by Time Magazine as one of the “top five fireworks shows in the country.”
Enjoy food, a beer garden, Chinook helicopter fly-over and more.
Gas Works Park, 2101 Northlake Way
!2 noon with fireworks at 10 PM
Fourth of jul-Ivars
Come down to Eliot Bay to view the 44th annual Ivar’s fireworks show.
Fish and Fireworks is a special opportunity to watch the fireworks show from the Aquarium, enjoy the fish and sea life, and avoid the crowds and traffic.
Bellevue has the Symetra Fourth of July sponsored by Washington.
Bellevue Downtown Park from 6-10:30 PM.
Bothell’s Fourth of July celebration
Bothell starts the celebration on July 3rd with dances, pancacke breakfasts and a reenactment of the battle at the Concord bridge.
Check out the City of Bothell website for more details.
Kirkland starts its celebration in the morning.
This morning, The Seattle Times had a list of everything you can do on the Fourth all over Puget Sound.
Bellevue, Kirkland, Leukemia and Lymphoma Society, Seafair Marathon, Seattle, Team in Training
In Bellevue, WA, Exploring the Eastside, Kirkland, Local news and information on June 30, 2008 at 8:09 pm
Seattle’s Seafair Marathon ran by yesterday from Seattle through the Eastside cities of Bellevue and Kirkland. The runners showed lots of grit, guts, sweat, humor, and appreciation. Pretty impressive, given that I was seeing this when the runners were hitting their 23rd mile and the temperature kept climbing to one of our hottest days of the year.
Volunteering to help with the race, I was responsible for directing the cars crossing the course as they headed into Houghton Beach Park along Kirkland’s Lake Washington Boulevard.
Whe the runners came, it happened really fast. Shortly after 9 AM the first three runners came by right on each others heels. The men were the Kenyans, who were the men to beat. I read later that they ran the race together like this until mile 24, when number 7, Edward Kiptum broke from the group to win the race by 33 seconds.
At 9:35, the first woman runner ran by.
The winning woman was not far behind at that point.
9:45 a steady stream of runners had crossed mile 22.
10:45 Team in Training sister alumni racing for the cure of blood cancers for the Leukemia and Lymphoma Society.
10:45 First marathon walkers with ski poles.
The runners/walkers were incredibly polite and appreciative. Countless people thanked me for volunteering and picking up the water cups others threw down on the ground.
One runner yelled, “You guys are brilliant.” I responded, “No, you guys are.” He shot back with “Right now, I’m not so sure it was so brilliant to sign up.”
Another runner from the Marathon Maniacs team said, “Oh, you’re taking my picture? Sorry my hair is messed up,” as he doffed his cap and showed his bald head. (Picture before he took his cap off!)
Then there were the two women with Statue of Liberty hats.
When I shouted encouragement to people, several shot back about the hill in Bellevue. I’ll never look at Bellevue Way heading south from Kirkland in quite the same way anymore!
Congratulations to all who ran, walked, and volunteered. A race well done!
Bellevue, Husky Stadium, Kirkland, Kirkland Senior Council, Leukemia and Lymphoma Society, Seafair, Seafair Marathon, Team in Training
In Bellevue, WA, Kirkland, Local news and information on June 27, 2008 at 9:17 pm
The Seafair Marathon is crossing the 520 bridge with most of the route on the eastside of Seattle this year for the first time. This Sunday, the 29th, the marathon begins at 7 AM in Husky Stadium and treats the runners to fabulous views of Lake Washington as they run across the bridge to the eastside cities of Bellevue and Kirkland. The race heads as far south as Enatai and swings back up through Bellevue’s Bridle Trails to Rose Hill on over to the Kirkland Highlands, through East and West of Market, along Lake Washington Boulevard back down to the Bellevue Downtown Park and the finish line. There’s a 1/2 marathon which will cross the bridge and circle through Bellevue.
Give those Team in Training members a big cheer. These will be the runners in purple jerseys. They’re running to raise money for The Leukemia and Lymphoma Society and blood borne cancers. These runners have been training and raising money for the past 6 months. I participated in a 1/2 marathon for Team in Training a few years back up in Anchorage, Alaska. It was a wonderful and rewarding experience.
Expect to see world class runners coming through your neighborhood!
Bellevue Real Estate, condo buyers, condo buying, condo real estate statistics, condo sellers, condo selling, Eastside real estate, Issaquah Real Estate, Kenmore real estate, Kirkland real estate, monthly condo real estate statistics, Redmond real estate, Seattle, Seattle real estate, Seattle/Eastside real estate, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on June 16, 2008 at 4:13 pm
Sellers had a 14% chance of selling a condo on Seattle’s Eastside in May of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
May, 2008 1472 condos for sale, 211 condos sold, 14% chance of selling.
April, 2008 1392 condos for sale, 222 condos sold, 15.9% chance of selling.
May, 2007 761 condos for sale, 376 condos sold, 49% chance of selling.
Condo values on the Eastside continue to go up. Last month prices increased over 5% from May of last year. The actual number of sales is down considerably, which means the cream of the crop is getting the offers and the other condos are just sitting on the market. Pay attention to the competition in the area and price or buy accordingly.
Bellevue Real Estate, Issaquah Real Estate, Kirkland, Kirkland real estate, Medina, Medina real estate, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle real estate, Seattle/Eastside real estate, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on June 16, 2008 at 8:07 am
The chances
of selling a home on the Eastside in May 2008 ranged from a low of 7.3% to a high of 21%, with an average 12% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
May 2008 4349 homes available, 522 sold, 12 % chance of selling.
April, 2008 3985 homes available, 512 sold, 12.8% chance of selling.
May 2007 2823 homes available, 871 sold, 30.9% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 12.7% chance of getting a home sold, DOWN from 15.4% last month and DOWN from 29.8% last year. Median home prices were up by 3.1%, from $596,450 to $614,900. Inventory was up by 36.8% and sales declined by 41.7% from last year.
West Redmond/East Bellevue
Sellers had a 13.5% chance of getting a home sold, DOWN from 19% last month, and DOWN from 63.8% last year. Median sales price decreased from $619,000 to $559,950, a decrease of 9.5%. Inventory was up 128% and sales were down 51.5%.
South Bellevue
Sellers had a 11.5% chance of selling a home, Up from 10.6% last month and DOWN from 29.1% last year. Median price increased by 1.5% to $699,475 from $689,075. Inventory was up 48% and sales were down 41.4%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 9.6% chance of selling a home, DOWN from 12.5% last month and DOWN from 24.9% last year. Median price was down to $499,950 from $525,000, a 4.8% decrease. Inventory was up by 47% from last year and sales declined by 43.3%.
Kirkland
Sellers had a 9.6% chance of selling a home, UP from 8.46% last month and DOWN from 31.3% last year. Median price declined by 15.1%, from $799,950 to $679,000. Inventory was up by 55.4% and sales were down by 52.3%.
West Bellevue
Sellers had a 7.3% chance of selling a home, DOWN from 9.03%, and DOWN from 29% last year. Median pricing decreased by 11.4% to $1,325,000 from $1,495,000. Inventory climbed by 103.2% and sales declined by 48.9%.
Redmond/Education Hill/ Carnation
Sellers had a 21,2% chance of selling a home, UP from 14% last month, and DOWN from 33% last year. Median pricing decreased by .08% from $654,950 to $650,000. Inventory increased by 60.9% and sales dropped by 3.2%.
County wide, inventory is up from January’s numbers. On the eastside 2963 homes were on the market in January and now there are 4349 homes for sale, a 32% increase. The median price was up in four areas on the eastside in April, but only in two areas in May.
To determine the most realistic view of the market, look at several months worth of data. Pay particular attention to the amount of homes for sale in your area. Regardless of what’s happened in the previous months, make sure you know the actual competition in your area before establishing a sales price and going on the market.
Remember sellers, it is price and condition in this market. Homes are selling, but as we all know, there is competition.
Angelo's, Bellevue, Bellevue Square, Commercial real estate, El Gaucho, Google, Group Health, Issaquah, Kemper Freeman, Kirkland, Kirkland Parkplace, Microsoft, Nintendo, Seattle, Seattle/Eastside, The Bravern, The McLeod Project, Wild Ginger, XBox
In Bellevue, WA, Issaquah, WA, King County, WA, Local news and information, Real Estate News, Seattle real estate on May 19, 2008 at 8:05 am
Since the late 1980′s the Eastside of Seattle has exploded with development. Within the last few years, we’ve entered a completely new phase of development impacting many of the Eastside cities. Bellevue, Redmond, Issaquah, and Bothell are all undergoing big changes.
Here’s a list of some of the changes you will see on the Eastside. Much of this information was provided courtesy of Al Hodge, a commercial real estate broker with The Broderick Group, Inc. He has his ear to the ground and is very familiar with the latest happenings on the Eastside. Al Hodge made a presentation a couple of weeks ago at my Windermere office.
Downtown Bellevue is undergoing massive changes. I met a friend for dinner downtown the other day and we commented on how different things will be in downtown Bellevue over the next couple of years. There will be less of a need to go across the pond for great food and entertainment. (Not that there aren’t already some wonderful restaurants and entertainment venues on Seattle’s Eastside.)
Bellevue:
Microsoft has 3 million square feet of space.
Kemper Freeman is planning a $42 million upgrade of Bellevue Square.
El Gaucho restaurant is (rumored) to be opening in the new 26-story City Center Plaza off of NE 6th.
Other possibilities already reported in earlier posts:
John Howie of Seastar fame will open another restaurant.
Wild Ginger will also be on the Eastside.
Issaquah:
Opus Northwest will continue to have the largest retail center.
Group Health Hospital will keep its 26 acres of land/space.
Kirkland:
Parkplace is going through the review process for redevelopment.
Google is building 195,000 sq ft of space to accommodate about1000 employees.
Lake Street restaurants, including Hector’s, will closed and
The McLeod project is still under discussion. Approved by the city’s Design Review Board, the plan was voted down by the City Council.
Redmond:
4,000 space parking garage will be built to accommodate Microsoft employees. This billion dollar project will consist of a park and baseball field.
Nintendo, located nearby, recently sold Microsoft 40 acres of additional land for developing.
HP & EMC have moved in to the area
Angelo’s Nursery sold for $12 million for a future Elder Care facility.
Downtown Redmond:
Whole Foods has started the chain of new developments.
Costco will soon develop on 28 acres alongside the Business Park.
Xbox will stay for now possible move after Microsoft parking garage is built.
What do you think about all this growth, all these changes? Is it a good thing for the Eastside, or not?
traffic, Sound Transit, Rails/trails, King County Council, Proposition 1, BNSF railway, commute, Port of Seattle, Snohomish County, John Creighton, buses, rail banking, commuter rail, hiking, biking
In Bellevue, WA, King County, WA, Kirkland, Local news and information, Redmond, Woodinville, WA on May 15, 2008 at 9:01 am
On Monday Metropolitan King County officials and Port of Seattle Commissioners met to sign the paperwork for the complicated deal between the Port of Seattle, King County, and the BNSF railroad. The Port will buy the BNSF tracks from the railway and allow King County to keep the right of way in the public domain.
But what’s the future of the rail line? What’s the future of a trail? I’ve added links to the some of the news articles about the deal and will highlight some of the key issues raised in each article. It’s interesting to compare what’s reported in each article. The different newspapers do not see the issues in exactly the same light. This is not surprising since the issues surrounding the trail and/or rail line are still unclear and very much up in the air.
Several constants in this saga are:
The BNSF is selling the rail line to the Port for $107 million dollars.
The Port has granted King County an easement to develop a trail on 32 miles of the corridor.
Federal law requires the train line be “rail banked”, kept for possible future use as a train line. The tracks will remain in place. This will keep the line available for public use and ownership.
The port will receive $1.9 million dollars from King County for the use of an easement for a hiking/biking trail along the Renton to Woodinville stretch of the rail line and the 7 mile spur from Woodinville to Redmond.
The Everett Herald had an interesting story summarizing Monday’s inking of the deal. The Herald reflected the Snohomish County Council point of view.
“ Snohomish County wants leverage sooner and is working to keep the rails in place for commuter trains all the way to tech job centers on the east side of Lake Washington.
“We think we can have the rails and the trails,” Somers (Snohomish County Council Chairman) said.
Somers is pushing for a deal with a private company called GNP Railway to provide daily commuter trains on the route from Snohomish to Bellevue as soon as next year. The county is negotiating with the company chairman Tom Payne.
“If we can team up with Tom Payne and get status with the federal government, the port and King County have to deal with us.”
Snohomish County wants rail.
“The port isn’t interested in long-term ownership of the corridor, so questions to be worked out include who would ultimately own the corridor and run commuter rail over it, said Port Commissioner John Creighton. “We’re holding the corridor now, but if Sound Transit determines it can make use of the corridor, we would like to sell it to Sound Transit, get our money out, and invest it in our core business.”
Both The Seattle P-I and The Seattle Times weighed in with their take on the future for the rail/trail. The Seattle P-I’s article was the most comprehensive summary of the story. Here are some additional issues raised in the P-I article:
Previously, a study was done to the tune of $800,000 by The Puget Sound Regional Council. This study stated:
“In May 2007 the Puget Sound Regional Council published a study that found Sound Transit and the state Department of Transportation’s strategy of using a series of rapid buses to serve commuters was more feasible than developing high capacity rail transit along the Eastside rail corridor.”
A new survey is being conducted and will be completed by February, 2009. The cost for this study is $340,000, after $800,000 has already been spent to say the commuter line is not viable in King County! Part of the money for the study is being paid by the Discovery Institute, which has a vested interest in seeing the commuter line developed, since this very group is hoping to develop the commuter line. This second study is being conducted with funds from a source that hopes to gain from the outcome of the study. Hmm….
It’s important to have thorough and impartial studies completed, studies which demonstrate the actual cost per rider and the full cost of developing the trail and rail line. It’s important to have the proper public process for the trail and/rail line. Whatever is decided must be the result of careful, thorough analysis and not just a band-aid solution resulting from the failure of Proposition 1.
Bellevue Real Estate, condo buyers, condo buying, condo sales, condo sellers, condo selling, condominium sales, Issaquah Real Estate, monthly real estate statistics, Redmond real estate, Sammamish real estate, Seattle real estate, Seattle/Eastside real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, Kirkland, Local news and information, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on May 14, 2008 at 6:04 pm
Sellers had a 15.9% chance of selling a condo on Seattle’s Eastside in April of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
April, 2008 1392 condos for sale, 222 condos sold, 15.9% chance of selling.
March, 2008 1277 condos for sale, 208 condos sold, 16% chance of selling.
April, 2007 621 condos for sale, 377 condos sold, 60% chance of selling.
Condo values on the Eastside continue to go up. Last month prices increased over 7% from last year and this month prices are up 12.6%. This is not to say it’s easy to sell a condo. Clearly, the actual number of sales is down considerably, by 41%.
Pricing a condo for sale should be based on the amount of competition and the most recent sales. Sales from even a few months ago are out of date. Understanding the competition when you go on the market is the key to a successful sale. Pricing must be competitive so a condo stands out from the pack.
Bellevue, Bellevue Real Estate, Eastside real estate, home buyers, home sellers, home selling, Issaquah, Issaquah Real Estate, King County, King County Real Estate, Kirkland, Kirkland real estate, monthly real estate statistics, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle real estate, Seattle/Eastside real estate, Seattle/Eastside real estate statistics, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Local news and information, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on May 12, 2008 at 7:50 am
The chances
of selling a home on the Eastside in April 2008 ranged from a low of 8.46% to a high of 19%, with an average 12.8% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
April, 2008 3985 homes available, 512 sold, 12.8% chance of selling.
March, 2008 3637 homes available, 493 sold, 13.5% chance of selling.
April, 2007 2444homes available, 734 sold, 30.0% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 15.4% chance of getting a home sold, UP from 14.5% last month and DOWN from 29.4% last year. Median home prices were down by 6.2%, from $637,000 to $597,639. Inventory was up by 48.8% and sales declined by 22% from last year.
West Redmond/East Bellevue
Sellers had a 19% chance of getting a home sold, DOWN from 21.7% last month, and DOWN from 46.0% last year. Median sales price increased from $569,000 to $608,998. Inventory was up 110% and sales were down from 63 sales to 55 homes, a 12.7% decline.
South Bellevue
Sellers had a 10.6% chance of selling a home, DOWN from 12.3% last month and DOWN from 25.9% last year. Median price decreased by 19% to $600,000 from $741,150. Inventory was up 54.5% and sales were down almost 36.7%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 12.5% chance of selling a home, a minimal change from 12.3% last month and DOWN from 37% last year. Median price was down to $484,450 from $514,950, a 5.9% decrease. Inventory was up by 60.1% from last year and sales declined by 45.9%.
Kirkland
Sellers had a 8.46% chance of selling a home, DOWN from 10.7% last month and DOWN from 30.5% last year. Median price declined by .03%, from $710,000 to $707,950. Inventory was up by 62.6% and sales were down by 54.8%.
West Bellevue
Sellers had a 9.03% chance of selling a home, UP from 7.26%, and DOWN from 28.3% last year. Median pricing increased by 42% to $1,399,000 from $985,000. Inventory climbed by 106.2% and sales declined by 34.1%.
Redmond/Education Hill/ Carnation
Sellers had a 14.0% chance of selling a home, DOWN slightly from 14.8% last month, and DOWN from 20.9% last year. Median pricing increased by 13.1% from $577,015 to $652,450. Inventory increased by 71% and sales dropped by 14.5%.
County wide, inventory is up from January’s numbers. On the eastside 2963 homes were on the market in January and now there are 3985 homes for sale, a 26% increase. The chances of selling in the different eastside areas varied very little from March’s numbers. However, if sales were down in an area, there was no absolute correlation with median price. Even if sales were down, the median price could still go up. The median price was up from last April in four of the eastside areas and down in three of the areas.
If you are trying to get a feel of the market in a particular area, look at several months worth of data. This will give the most realistic view of the market. Pay particular attention to the increase in inventory in your area. Sellers. regardless of what’s happened in a previous month, make sure you understand how much actual competition there is in your area before establishing a sales price and going on the market.
Remember sellers, it is price and condition in this market. Homes are selling, but as we all know, competition for the buyer is fierce.
King County, BNSF rail line, King County Council
In Bellevue, WA, King County, WA, Local news and information on April 26, 2008 at 11:36 am
Come to King County Council’s meeting on April 28th at 9:30 AM on the 10th floor of The King County Courthouse building, 516 3rd Avenue, Seattle. Listen, learn, speak about the trail opportunities on the existing rail line.
For more about the meeting and the issues, check out this post on my Kirkland blog and this article in this morning’s Seattle Times.There will be several meetings coming up on the eastside in the next week in which you can learn more about the issues. I’ll let you know about these upcoming meetings.
Bellevue, Bellevue dining, Bellevue Towers, El Gaucho, green building, LEED certification, Purple Cafe and Wine Bar, sustainable design, Washington, Wild Ginger
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Local news and information, real estate on April 23, 2008 at 8:01 am
I just received the April email newsletter from Bellevue Towers, The LEED certified high rise condos in Bellevue. The newsletter announced the restaurants coming to the complex.
(Photo taken a few months ago)
Purple Cafe and Wine Bar’sowners will open 3 different restaurants in the complex. The Bellevue Towers will be the home to the 4th Purple Cafe and Wine Bar, after Kirkland, Seattle, and Woodinville. Two other new concept restaurants will also open at the Towers, a coffee/dessert cafe, and a Latin/Mexican restaurant.
(Original Purple Cafe and Wine Bar in Woodinville.)
From the April Bellevue Towers email newsletter:
“One couple with three brilliant restaurant concepts that perfectly complemented the Bellevue Towers neighborhood. Larry and Tabitha Kurofsky, the Seattle husband and wife team behind the popular dining venue Purple Café and Wine Bar, plan to introduce three distinctive restaurant concepts to Bellevue and Bellevue Towers.The largest of the restaurants at Bellevue Towers will be a new Purple Café and Wine Bar, scheduled to open in November 2008.
Opening in early 2009, the second restaurant, Barrio, will be an upscale take on the traditional Mexican restaurant featuring a Latin-themed cocktail menu.
The yet-to-be-named third restaurant is another even newer concept that is still in the early stages of development. The Kurofskys envision a unique café and dessert lounge that will wake up with the neighborhood and continue to serve its needs throughout the evening. The café will offer fresh-baked goods, espresso and tea early in the morning; serve as a convenient lunch option throughout the afternoon; and transform into a dessert lounge serving sweet treats and cocktails into the evening.”
Downtown Bellevue will be destination dining spot for a wide variety of dining experiences over the next couple of years. These restaurants will join El Gaucho, Wild Ginger, and others in downtown Bellevue. The dynamics of downtown Bellevue will be completely different. It should prove to be fun and exciting. Another added benefit, with so much more available on the eastside, it ought to improve traffic heading into Seattle at night!
Add new tag, condominiums, condos, Eastside real estate, home buyers, home sellers, home selling, real estate, real estate market statistics, real estate update, Seattle/Eastside, Seattle/Eastside real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Local news and information, Real Estate News, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on April 10, 2008 at 3:43 pm
Sellers had a 16% chance of selling a condo on Seattle’s Eastside in March of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
March, 2008 1277 condos for sale, 208 condos sold, 16% chance of selling.
February, 2008 1230 condos for sale, 140 condos sold, 11% chance of selling.
March, 2007 535 condos for sale, 405 condos sold, 75% chance of selling.
The eastside certainly doesn’t follow expected trends. Even with the more than double the inventory, pricing is still 7.4% higher than last year. Usually, if there are more properties available and less sales, then the prices go down, but not on Seattle’s Eastside.
Add new tag, Bellevue, Bothell, Duvall, Eastside real estate, home buyers, home seller, home sellers, Issaquah, Kenmore, Kirkland, market statistics, monthly real estate update, Redmond, Sammamish, Seattle, Seattle/Eastside real estate, Woodinville
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Local news and information, Real Estate News, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics on April 10, 2008 at 2:29 pm
The chances
of selling a home on the Eastside in March 2008 ranged from a low of 7.26% to a high of 21%, with an average 13.5% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
March, 2008 3637 homes available, 493 sold, 13.5% chance of selling.
February, 2008 3303 homes available, 453 sold, 13.7% chance of selling.
March, 2007 2126 homes available, 826 sold, 38.8% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 14.5% chance of getting a home sold, DOWN from 16.4% last month and DOWN from 40.4% last year. Median home prices were down by 2.4%, from $593,950 to $579,500. Inventory was up by 59.7% and sales declined by almost 42% from last year.
West Redmond/East Bellevue
Sellers had a 21.7% chance of getting a home sold, UP from 15.6% last month, and DOWN from 58.8% last year. Median sales price decreased from $598,725 to $539,950. Inventory was up 127% and sales were down from 70 sales to 59 homes, a 15.7% decline.
South Bellevue
Sellers had a 12.3% chance of selling a home, DOWN from 13.4% last month and DOWN from 40.7% last year. Median price decreased by 1.5% to $669,950 from $659,950. Inventory was up 60.6% and sales were down almost 51.2%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 12.3% chance of selling a home, as 12.3% last month and DOWN from 35.1% last year. Median price was down to $525,000 from $540,450, a 2.9% decrease. Inventory was up by 57% from last year and sales declined by 44.9%.
Kirkland
Sellers had a 10.7% chance of selling a home, DOWN from 12.5% last month and DOWN from 28.2% last year. Median price declined by 2%, from $714,950 to $699,999. Inventory was up by 57.2% and sales were down by 40.2%.
West Bellevue
Sellers had a 7.26% chance of selling a home, DOWN from 9%, and DOWN from 35.2% last year. Median pricing increased by 2.9% to $1,250,000 from $1,215,000. Inventory climbed by 136.9% and sales declined by 51.2%.
Redmond/Education Hill/ Carnation
Sellers had a 14.8% chance of selling a home, DOWN from 15.8% last month, and DOWN from 48.9% last year. Median pricing decreased by 11.5% from $678,225 to $600,000. Inventory increased by103% and sales dropped by 38.5%.
King county wide, inventory is up from January’s numbers. On the eastside 2963 homes were on the market in January and now there are 3637 homes for sale.
As I mentioned in a previous post, if you’re considering a move, whether you’re buying or selling, it’s important to break the data down regarding the inventory and the absorption rate even further than what is reported above. The information here is a great snapshot for the eastside. But when looking at the price for a particular home, it’s best to look at the information in a smaller area than what’s shown above.
Also, look at several months worth of data. It’s interesting to see how things can fluctuate each month. For example, in West Bellevue, median price has been declining over the past few months and this month median pricing is up. If you look at several months worth of statistics, you’ll get a more realistic flavor of the market in a particular area. It obviously is still a tough market for sellers and a much better market for buyers. Pricing and condition is key in selling a home. It always has been, but now it’s even more critical.
405, Bellevue, Evel Knievel, Fortune Magazine, live and launch, Paragon Hotel., Seattle, Seattle/Eastside, traffic, Washington
In Bellevue, WA, Exploring the Eastside, King County, WA, Local news and information on April 7, 2008 at 7:55 am
Bellevue is the best place to “Live and Launch” in the entire United States, according to Fortune Magazine. Bellevue has a terrific economic climate, natural beauty, a steady supply of hi-tech workers, and traffic! The Seattle/Eastside area is a great place to live, but the traffic wars must be fought everyday. The commute into downtown Bellevue is always interesting. Below are photos showing some of the progress for the new overpass going in at NE 10th. This will provide another access route into downtown Bellevue and make getting to work just a little bit easier. Right now it’s the perfect spot for Evel Kneivel.
Construction on the NE 10th overpass is moving right along. It was just about a month ago that I did a piece showing the beginning of the overpass. These photos show the progress to date. 
Photo taken in February looking west from NE 116th over 405 towards downtown.
New and improved view looking west in March, 2008. Construction of the overpass is getting closer to crossing over 405.
Looking east from 112th Ave NE over what was the Paragon Hotel across 405. (405 is below camera range) Looks like a parking garage? The big concrete structure just above the fence is the overpass perched at the edge of 405. Right now, it’s a road to nowhere. Where is Evel Kneivel when you need him!
Here’s the side view of the ramp as it hangs just before 405, the perfect jumping point for Evel Kneivel. Could he have made the jump over 405 to the other side?
By the way,The Paragon Hotel on NE 112th Ave NE was just knocked down. This is last section standing of the hotel. Someone ought to tell the hotel they are no longer there, since the hotel is still advertising on the internet. It may be a little chilly if you book a room there!
Bellevue, CNN, Fortune Magazine, housing, live and launch, real estate, starting a business, Washington
In Bellevue Real Estate, Bellevue, WA, Exploring the Eastside, Local news and information on March 27, 2008 at 9:30 pm
Announced on CNN, Fortune Magazine listed Bellevue, Washington as #1, tops to live in and launch a business. The photo is a shot of Bellevue looking west towards downtown. Only a few of the cranes that hover over all the new construction, commercial and residential, can be seen.
According to The Downtown Bellevue blog:
“ The (Fortune magazine) rankings were based on the following: affordable housing, plentiful leisure activities, plentiful cultural options, job growth, sunny weather, short commute time, and good health care access.” The Northwest is a great place to live with the abundance of lakes, mountains, and culture.
Are there issues? Yes, not everyone would agree there’s affordable housing, short commutes, and lots of sun. But the reality is, if we are a dynamic, growing region with the prospect of economic growth, nothing is perfect. However, the whole package is pretty terrific and hard to beat when compared to other parts of the country. Sure, you can find less expensive real estate. It’s all over this country. But the natural beauty, the culture, the job growth, the level of educated citizens fueled by this job growth, is not as strong in these other areas.
Bellevue is an exciting place. People are looking to move to the downtown core and the Eastside in general.
What are your thoughts about Bellevue as the #1 place for small business growth?
Bellevue, BNSF railroad, Eastside, Kirkland, Redmond, Renton, Seattle, Woodinville
In Bellevue, WA, For Buyers, For Sellers, King County, WA, Local news and information on March 24, 2008 at 10:20 pm
Concerned about what could be happening on the BNSF rail line that runs along Lake Washington through the eastside cities of Renton, Bellevue, Kirkland, Redmond, and Woodinville? You should be.
I’ve written a lot of pieces about the trails and rails on my Kirkland blogand watched it evolve over the last few years. We’ve gone from a trail to who knows what at this point in time. The latest I’ve heard is the rail line will not work for light rail. The talk is more about DMUs, Diesel Motor Units. If you check out Brian and Emily’s blog, you can see and hear some examples of DMUs in action.
A group of concerned citizens is forming called Eastside Trail Advocates. The group is dedicated to creating a trail on the BNSF rail line. The group is not against better transportation, but wants to ensure transportation improvements make sense. There don’t seem to be any ridership studies completed for a commuter train, but there’s a lot of talk about developing a commuter line. A critical piece is missing here. Is the cart before the horse?
Here are some key points:
-
King County Executive Ron Sims supports dual use of the BNSF right of way. Keep the right of way for a future commuter rail line if needed with interim use as a trail with the rail lines pulled out.
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A Puget Sound Regional Council study is also for rail banking. Rail banking is the public acquiring of rail lines for trails with the possible future use as a rail line.
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The Port of Seattle is scheduled to purchase the rail line from mile 5 down in Renton to mile 39 up in Woodinville in April of this year, with a fall closing. Boeing and BNSF cut a deal to keep Mile 0-mile 5 open for Boeing to transport fuselages.
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An Eastside Transportation Partnership has formed with members of Sound Transit, WSDOT, and the Puget Sound Regional Council.
The trail advocates are concerned about:
-
The best use of tax dollars
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The real cost to build this rail line, its stations, and parking.
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Safety and street traffic, as many intersections and paths to schools cross over the rail line.
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Destruction of neighborhoods.
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Noise and pollution if diesel trains are used.
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The lack of population density along the rail line when compared to the I-405 corridor.
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The loss of a trail, a potential fabulous amenity for all Eastsiders.
No matter what your opinion, get educated about the rails/trails issues. If you are in support of the trail log onto Eastside Trail Advocates and lend your support.
Bellevue, condo living, Eastside, Jimmy Choo, luxury high rise, luxury shopping, Microsoft, Neiman Marcus, Seastar, Seattle, Seattle real estate Bellevue real estate, The Bravern, Wild Ginger
In Bellevue Real Estate, Bellevue, WA, For Buyers, Local news and information, Real Estate News, real estate on March 20, 2008 at 2:16 pm
Gorgeous, gorgeous, The Bravern is one of the premier condominium towers being built on Seattle’s Eastside. The Bravern is at the corner of NE 8th and 112th Ave NE, perhaps the new luxury corner of downtown Bellevue? Comprised of residential condominium towers, an office complex, and luxury shops anchored by Neiman Marcus and Jimmy Choo, The Bravern will be one of the premier destinations and addresses in Bellevue.
Here are some of the features of the complex:
24 hour concierge
7 floors of parking for homeowners with a private elevator
valet parking available
25,000 square foot private roof garden
Protected easterly views
Auto court, similar to the Fairmont Hotel in Seattle
Luxury shopping with the feel of a European Village
I attended an open house a couple of weeks ago and had a chance to see some of the floor plans and finish work of the model homes.
The office space has been leased to Microsoft. The retail space is filling up, although names of all the tenants are not yet public. Premier restauranteurs, such as John Howie of Seastar fame, will be opening restaurants. The first eastside outpost of the Seattle’s wildly popular Wild Ginger restaurant will also be in The Bravern. The Bravern should be a dynamic new addition to Seattle’s Eastside and downtown Bellevue.
Bellevue, buyers, condo sales, Issaquah, King County, Kirkland, real estate, real estate market statistics, Redmond, Seattle/Eastside, sellers
In Bellevue Real Estate, Bellevue, WA, Exploring the Eastside, For Buyers, For Sellers, Issaquah Real Estate, King County Real Estate, King County, WA, market statistics on March 13, 2008 at 2:33 pm
Sellers had a 14% chance of selling a condo on Seattle’s Eastside in February of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
February, 2008 1230 condos for sale, 140 condos sold, 11% chance of selling.
January, 2008 1059 condos for sale, 149 condos sold, 14% chance of selling.
February, 2007 515 condos for sale, 328 condos sold, 63% chance of selling.
Again, inventory is over twice as high as last year. However, our median price continues to defy expectations. Last year, the median price was $320,639 and this year it is $327,818, a 2.2& increase.
Last month I said:
This number (the median price) may be an anomaly as pricing for all 2007 condos increased by 8%. The median price for any month is a reflection of the sales for that particular month, so last January’s sales may have included more entry level condos, which resulted in a huge increase in median pricing this year when more expensive condos sold. When we see February’s statistics, which will come out in March, we will have a better feel for the actual increase in pricing.
Now in February, we see this 2.2% increase in median pricing. Pricing has gone up, despite the increase in inventory and competition. But the increase is not as dramatic as the 8% reported previously.
animal control, Bellevue, cats, Kent, King County, King County Council, Seattle Times. Euthanasia. dogs
In Bellevue, WA, King County, WA, Local news and information on March 12, 2008 at 11:33 am
I report on real estate statistics on this blog all the time, but this post is about a different set of statistics.
The stats from the Seattle Times article today which is entitled, Euthanasia Cut Nearly in Half at King County Animal Shelters caught my interest. Adoptions have been going well and the euthanasia rate is down to 18% per month, half of what it was at this time last year. This number is at an all time low, according to the article. It’s up to people who are getting pets to help keep these numbers low.
My husband and I adopted a dog last summer from The Humane Society and he’s just fabulous. He has a great personality and is wonderful to have around. This is the second dog we’ve adopted and I highly recommend doing this rather than getting a puppy.
Interesting fact: The King County Council is keeping the euthanasia rate to 20% in 2008 for the shelters in Bellevue and Kent and at 15% in 2009. I’m glad to see the council taking the initiative with this one.
Seattle/Eastside, Woodinville, real estate, log homes, Kirkland, Frank Lloyd Wright, Lincoln Logs, Issaquah, Duvall, Carnation
In Bellevue, WA, Built Green and Sustainable Living, For Buyers, For Sellers, King County Real Estate, Remodeling and style trends, Woodinville, WA, real estate on March 10, 2008 at 7:55 am
There’s been a lot of press this past week about the torching of The Street of Dreams homes. My previous post was about this story. People were horrified by this senseless act. When reading other posts about the event, particularly the one on The Seattle P-I Real Estate Professionals blog, I noticed another thread in the blog comments about the tragic event, many people were voicing an opinion against the mega-houses The Street of Dreams shows represent.
I thought this might be a good time to visit a different form of American architecture, log homes.
Log homes evoke the past, a sense of adventure, and the “Wild West.” We think thoughts of Abe Lincoln and Laura Ingalls Wilder. The rustic nature of logs brings people close to the wood in its natural state. For some, it can create the perfect ambiance of a rustic, warm getaway and still be a primary residence. A log home is a great antithesis to today’s hectic lifestyles.
There are a number of log homes all around Seattle’s eastside. Most are in areas such as Union Hill or in cities like Duvall, Carnation, Fall City, Woodinville, and Issaquah. However, there are log homes everywhere. There’s a great log home in my neighborhood in Kirkland, one on Market St., and one on Rose Hill.
One recent issue of Realtor Magazine had a interesting article about log homes. According to the article, log homes were first seen in this country in the 1700′s. Early settlers had to make do with what was available. Without “city” conveniences and lumber mills, the full logs did the trick. Homes were often built without nails since nails were scarce.
Remember Lincoln Logs? My brothers had those when we were kids. Lincoln Logs were toy sets for building log homes. The toy logs had the same notched style construction as the original log homes. When I read the above article, I discovered Frank Lloyd Wright’s son created Lincoln Logs. I wonder what his Dad would have thought!
The Log Council , a member of NAHB, The National Association of Home Builders, is an industry trade group and information resource. Numerous architects and builders specialize in log home design and building. The above linked article will give you a great introduction to the concept of log homes in the 21st century.
Bellevue, disaster preparedness, Eastside Business Journal Online, Kirkland, Mapping Your Neighborhood, Sammamish, Seattle/Eastside, Washington
In Bellevue, WA, Local news and information, Sammamish, WA, disaster preparedness on March 6, 2008 at 5:11 pm
Several opportunities to learn about disaster preparedness are coming your way, courtesy of the cities of Sammamish, Bellevue, and Kirkland.
The City of Sammamish is sponsoring a class on March 10th and on March 17th to learn about disaster preparedness. The Eastside Business Journal reported on the upcoming class. Here’s the basics as reported in the Eastside Business Journal online:
Free seminar on disaster preparedness sponsored by the Sammamish Citizen Corp.
Enter to win a free disaster prep kit at disastersareweready@gmail.com
Dates: March 10th and 17th
Time: 7 PM – 9:30 PM
Location:Pine Lake Covenant Church, 1715 228th Ave SE, Sammamish, WA 98075
Seminar topics include:
- The City of Sammamish Emergency Plans
- Earthquake and Geologic Hazards for King County
- Eastside Fire & Rescue: How we are prepared?
- The Starbucks story: Learn How They Deal with Disaster
- The Map Your Neighborhood for Disasters program
- Sammamish Schools in a Disaster: What Happens?
- Business Preparedness: A “How To” session
- Animals in a Disaster Situation: What you can do to help?
- General Preparedness and “How To” Build a Disaster Kit
- Basic First Aid with the American Red Cross
Do you have to be a Sammamish resident? No. I also heard about these classes in a press release from the City of Kirkland. Most of the information being presented is invaluable, no matter where you live.
The City of Bellevue has a 10 minute DVD on disaster preparedness available which you can pick up at City Hall or see as a streaming video on the city website. The DVD is available in 7 languages: Mandarin, Cantonese, Spanish, Russian, Korean, Vietnamese, in addition to English. The Bellevue city website also has terrific information to help you get prepared for a disaster.
The City of Kirkland has two buttons on the front page of the city website dedicated to disaster preparedness and emergency bulletins.
As a Kirkland resident, you can sign up for the next Mapping Your Neighborhood class, which is on:
Saturday, March 15, 9:30 AM, Kirkland Stake Center, 7910 NE 132nd St (corner of Juanita Drive). This is a state designed program to help neighborhoods prepare for and deal with disasters.
Check these websites and classes out. You’ll need to be prepared in the event of a disaster. The police will take care of major emergencies first. It’s up to you to be prepared!
Bellevue, Brooklyn, condo towers. Seattle, Eastside, Inman Real Estate Connect, NYC, real estate, Williamsburg
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, King County Real Estate, real estate on February 20, 2008 at 11:56 am
Here’s what you can buy in a new glass condo tower in Brooklyn and on the Eastside of Seattle.
On my way back from Inman News Real Estate Connect, I sat next to John who makes a monthly commute from NYC to Seattle meetings at The Cancer Care Alliance. John and I had a long talk about his experience with New York real estate. John purchased a condo in Williamsburg this past year and during our conversation I was able to find out what 700k will buy. I thought it would be interesting to compare Bellevue and Williamsburg, since both are located across a bridge from the “big city.”
First a bit of history about Williamsburg where he purchased a condo:
His condo is in a section of Brooklyn, Williamsburg, which lies across the East River from Manhattan and has traditionally been a working class community. Developers jumped on the gentrification bandwagon after the State of New York allocated money for a new park that will follow the East River. John made a purchase in a new glass tower which will be right by this new park. The park is scheduled to have play areas, walking/biking paths, and that all important dog park.
Besides its fabulous location, the complex, known as Northside Piers is one of the few all-glass residential buildings in the New York area.
With 10 foot high ceilings and floor to ceiling windows offering unobstructed views of the river, the building will be state-of the-art. John purchased his unit for $700,000 in February, 2007, almost a year ago. Each month prices go up making his unit worth considerably more before he has even taken occupancy. (The building is behind schedule and is still not complete.)
So what did $700,000 buy in this new glass tower in Williamsburg?
It bought a one bedroom unit with about 737 square feet, storage and a laundry area, top of the line finish work, and high end appliances, such as Subzero, Wolf, and Viking. The unit comes with spectacular views of the river and Manhattan. Parking is not included and there are only 170 spaces available for about $300-400 dollars a month in rent.
Homeowner’s dues or maintenance fees, as they are called in NYC, are $700 per month for a unit of this size. Fees give you a lot for the money: interior, exterior, and grounds maintenance, garbage, heat and A/C, hot water, and gas. Electricity and phone are not included.
Here is a New York moment:
The units also come with $6.00 a month in real estate taxes! Yes, you read it correctly, $6.00 a month or $72.00 a year for 25 years. At Inman News Connect we heard about this incentive created by Mike Bloomberg, New York’s Mayor. If new condominium complexes include 20% of the units for lower or middle income housing, the home owners who purchase units at market rate get a tax break. Overall, the units become more affordable with the low real estate taxes. (By the way, real estate taxes are usually much higher than Washington State, almost double.)
John thought his 700k would buy him a 400 square foot studio in Manhattan, so the Williamsburg condo is a fabulous deal.
Northside Piers
$700,000 1 bed/1 bath/ 737 sq ft/ parking not included/ $700 H.O. Dues/ $72 yr. real estate taxes.
What do you get in a “glass” tower/condo on the Eastside of Seattle?
Lincoln Tower
$679,000 1 bed/1 bath/719 sq ft/1 parking spot/ $352 H.O. Dues/views/ $3757 real estate taxes (originally 720k)
$699,000 1 bed/1 bath/757 sq ft/1 parking spot/ $370 H.O. Dues/views/ $3904 real estate taxes (originally 740k)
Bellevue Tower-LEED built building.
$609,900 1 bed/1bath 1200 sq ft/1 parking spot/$588 H.O. Dues/taxes TBD
$619,000 1 bed/1 bath/ 977 sq ft/1 parking spot/$487 H.O. Dues/taxes TBD
$719,000 1 bed/1.5 bath/ 1041 sq ft/is parking spot/$516 H. O. Dues/taxes TBD
Washington Square
$637,000 1 bed/1 bath/ 808 sq. ft/ 1 parking spot/ $299 H.O. Dues/taxes TBD
$641,000 1 bed/1 bath/ 926 sq. ft/ 1 parking spot/ $343 H.O. Dues/Taxes TBD
(Taxes are usually determined upon closing for new construction. It’s safe to say taxes will be similar to Lincoln Tower, which are the only resale condos listed here.)
The Bravern
Here is the new kid on the block. The Bravern is on NE 8th over by 112th Ave NE. I attended an open house for Realtors the other day and I’ll do a more detailed post about the complex. Studios have been predicted to start in the 400k range.
Downtown Bellevue prices are similar to an up-and-coming Brooklyn neighborhood with views of the city and the river. Bellevue is not downtown Seattle and Williamsburg is not Manhattan. Both areas are expensive, but better priced than the heart of the big city. The proximity to the “big city,” plus the more for your money value helps to drive interest to Bellevue and Williamsburg.
But the other reason for the burst in high rise condos on the Eastside that doesn’t compare directly to Williamsburg, is the growth of the job market on the Eastside. The Eastside is more the economic center of King County. People live in Bellevue because the downtown experience is becoming more dynamic, but also because they work on the eastside. Just take a look at traffic during rush hour. The reverse commute is far worse!
405, Bellevue, commuting, traffic, Washington
In Bellevue, WA, For Buyers, For Sellers, King County, WA, Local news and information on February 19, 2008 at 11:23 am
A better downtown Bellevue commute is coming! Here’s the start of the new NE 10th overpass over 405. It will run between Overlake Hospital on one side and the new Group Health facility on the other. (Hence the Emergency Department sign) This overpass should help reduce traffic on NE 8th heading into downtown Bellevue.
I wrote an article earlier on this blog about all the changes happening to 405. Sometimes change is good!
Bellevue, buyers, Issaquah, Kirkland, market statistics, Medina, Redmond, Sammamish, Seattle Eastside real estate, sellers, Woodinville
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Local news and information, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on February 9, 2008 at 6:05 pm
The chances
of selling a home on the Eastside in January 2008 ranged from a low of 7% to a high of 15.8%, with an average of a 11.6% absorption rate. Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
January, 2008 2963 homes available, 346 sold, 11.6% chance of selling.
December, 2007 2594 homes available, 295 sold, 9% chance of selling.
January, 2007 1895 homes available, 506 sold, 26.7% chance of selling.
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(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 13.3% chance of getting a home sold, UP from 12.2% last month and DOWN from 32.6% last year. Median home prices were down by .8%, from $624,900 to $619,900. Inventory was up by 55% and sales declined by almost 36.5% from last year.
West Redmond/East Bellevue
Sellers had a 15.8% chance of getting a home sold, DOWN from 16.1% last month, and DOWN from 33.6% last year. Median sales price increased from $539,450 to $567,250. Inventory was up a whopping 112% and sales were exactly the same as last January, 36 homes.
South Bellevue
Sellers had a 7.2% chance of selling a home, DOWN from 8.9% last month and DOWN from 21.3% last year. Median price decreased by 13.1% to $630,000 from $724,975. Inventory was up 51.6% and sales were down almost 48.3%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 14% chance of selling a home, UP from 9.3% last month and DOWN from 25.7% last year. Median price was down to $459,950 from $499,950, an 8% decrease. Inventory was up by 50% from last year and sales declined by 18%.
Kirkland
Sellers had a 9.8% chance of selling a home, DOWN a hair from 10.2% last month and DOWN from 17.2% last year. Median price declined by 3%, from $672,475 to $652,250. Inventory was up by 38% and sales were down by 21%.
West Bellevue
Sellers had an 7% chance of selling a home, DOWN from 9.7%, and DOWN from 21.6% last year. Median pricing dropped by 13% to $937,500 from $1,077,500. Inventory climbed by 78% and sales declined by 42%.
Redmond/Education Hill/ Carnation
Sellers had a 12.4% chance of selling a home, DOWN ever so slightly from 12% last month, and DOWN from 32.8% last December. Median pricing increased by 2.5% from $648,950 to $664,925. Inventory increased by 59% and sales dropped by 40%.
This will continue to be a more realistic year. Here is the evaluation of the market from my January, 2008 article in which I summarized 2007 Seattle/Eastside real estate. The remarks still hole true for this month’s report:
“The market is softer for sellers, but not dead on the arrival of 2008 like in many areas of the country. Sellers need to be competitive with pricing and have a top notch marketing plan and presentation to capture a buyer’s attention and get the sale. Realistic sellers should not have a problem getting a home sold. Those who decide to sell should expect longer market times and flexibility in pricing.
Buyers have great choices, interest rates, negotiation opportunities, and a chance to think before jumping on a home in today’s market. Buyers, however, who plan to buy should stay put for at least 3-5 years. ” So this may not work for everyone.
Condo stats are coming soon!
Eastside Real Estate Buzz
