Debra Sinick

Archive for the ‘WA’ Category

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The Seattle/Eastside Or Just The Eastside?-Does The Eastside Stand Alone?

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?

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What Were The Chances of Selling a Seattle/Eastside Condo in July, 2008?

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.

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What Were The Chances of Selling Your Seattle/Eastside Home in July, 2008?

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.

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My Top Ten Favorites From The Bellevue, Washington Arts Museum Fair

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.

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What were The Chances of Selling Your Seattle/Eastside Home in June, 2008?

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.

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What Were The Chances of Selling Your Seattle/Eastside Home in April, 2008?

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.
 

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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 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.