Debra Sinick

Archive for October, 2008|Monthly archive page

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Weekly Real Estate Buzz in West Redmond, Near Microsoft, Through October 23rd and October 30th, 2008

In For Buyers, For Sellers, Market Statistics, Weekly real estate updates on October 31, 2008 at 4:39 pm
The computer’s fixed, everything is re-installed and now I’m back at reporting the weekly real estate statistics!
The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals.  All numbers are gathered mid-day on Thursdays from NWMLS information.     
                                   
Active listings:  80 (78)
New listings: 5  (3)
Sold Contingent: 0 (0)
Pending inspection: 2  (1)
Pending: 2 (4)
Closed Sales:  2 (2)
Rented: 0 (0) 
Price Reductions: 12 (2)
Price Increases: 0 (0)
Expired Listings: 1 (0)
Cancelled Listings: 0 (1)
Temp Off Market: 0 (0)
Back on Market: 1 (1)
———————————

$0-$349,999:            1 (2)

$350,000-$499,999:  16 (13 )

$500,000-$749,999:    38 (35)

$750,000-$999,999: 13 (14)

$1,000,000- $1,499,999:  7 (7)

$1,500,000- $2,999,999: 4 (5)

$3,000,000+                     1 (2)
———————————–
Average Price:    $794,386 ($855,174)

Median Price: $639,975 ($647,000)

Average Days on Market: 75 (79)

Highest Priced Listing: $3,950,000 ($3,950,000)

Lowest Priced Listing: $339,500 ($339,500)

The number of homes for sale near Microsoft has increased, but the biggest change this week was in the number of homes with reduced prices.  Many weeks we’ll see price reductions ranging from 4-8 homes, but this week 12 homes reduced the asking price, fully 15% of the marketplace. 

Closed sales of the week:

$790,000 Evergreen Lane CamWest new construction with 4 bedrooms, 2.5 baths and 3115 square feet.  It was priced at $829,950, selling for 5% below the original asking price. *** Builders are far more flexible with pricing these days.

$2,000,000 Lake Sammamish waterfront with a boat house.  Built in 1991, the home was priced at $2,400,000 and sold in 298 days for 17% below the original asking price.

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WEEKLY REAL ESTATE BUZZ FOR WEST REDMOND, NEAR MICROSOFT, THROUGH OCTOBER 30th, 2008

Active listings:  80 (80)
New listings: 2 (5)
Sold Contingent: 0 (0)
Pending inspection: 2  (2)
Pending: 2 (2)
Closed Sales:  2 (2)
Rented: 0 (0) 
Price Reductions: 6 (12)
Price Increases: 0 (0)
Expired Listings: 0 (1)
Cancelled Listings: 1 (0)
Temp Off Market: 0 (0)
Back on Market: 0 (1)
———————————

$0-$349,999:            1 (1)

$350,000-$499,999:  16 (16)

$500,000-$749,999:    38 (38)

$750,000-$999,999: 13 (13)

$1,000,000- $1,499,999:  7 (7)

$1,500,000- $2,999,999: 4 (4)

$3,000,000+                     1 (1)
———————————–
Average Price:    $795,739 ($794,386)

Median Price: $647,000 ($639,975)

Average Days on Market: 84 (75)

Highest Priced Listing: $3,950,000 ($3,950,000)

Lowest Priced Listing: $339,500 ($339,500)

The number of homes for sale near Microsoft remained the same, with a couple of new listings and a couple of sales happening.  There were 6 price reductions, half the number from last week.  Six homes experiencing price reductions is fairly typical.

Closed sales:

$355,000 for a Sammamish Forest Manors town home with 2 bedrooms, 2 baths and 1300 square feet on one level.  It’s original asking price was $379,950 and it sold in 118 days for 7% below the asking price.***One level town homes are very popular.

$760,000 a newer two story home, a bank repo, originally priced at $899,900, reduced to $800,000, selling for 16% below the original asking price in 199 days.  The home was built in 2007 and is 3689 square feet with 4 bedrooms and 2.75 baths. *** This home was a great value for the price.

 

 

 

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Where’s The West Redmond Real Weekly Estate Buzz?

In For Buyers, For Sellers, Market Statistics, Redmond, Weekly real estate updates on October 27, 2008 at 11:06 am

Wondering about the weekly West Redmond real estate statistics? My computer is still in one piece, only barely, and neither my  computer or I have had a permanent breakdown.    I wrote about my computer/statistics “tale of woe” on my Kirkland blog. 

Stay tuned for weekly statistics later this week and I’ll have two weeks worth of real estate statistics for you.  Now get out and enjoy the day!

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What Were The Chances of Getting a Home Sold in West Redmond, Near Microsoft, in September, 2008?

In For Buyers, For Sellers, Market Statistics, Microsoft, Real Estate news, Redmond, Weekly real estate updates on October 18, 2008 at 10:50 am

Sellers had an 17.5% chance of getting a home sold  in West Redmond and East Bellevue, both neighborhoods near Microsoft, in September, 2008.

September 2008      324 homes for sale, 57 sales       17.5 chance of selling.

August, 2008          337 homes for sale, 65 sales,      19% chance of selling.

September, 2007     262 homes for sale,  69 sales,     18.7%    chance of selling.

The area east of 405 and south of highway 908, the Redmond/Bellevue area close to Microsoft, again has the strongest real estate sales activity for the eastside, only slightly edging out the Education Hill area of Redmond.  With the end of the year in sight, the number of homes for sale is dropping from its peak. 

There’s still a great selection for buyers to choose from and good buys to be had.  The cream puff homes are the ones getting the offers.   June stands out as the strongest performing month for most eastside neighborhoods, including the neighborhoods around Microsoft.  

September, 2007, with its 18.7% chance of selling, represents the first month we saw a big switch in the market in the area.  Previously, over 30% of the homes, and more, were selling each month in the area around Microsoft.  Obviously, this no longer happening in the area.

For a full report on the eastside area’s real estate activity check out my eastside blog.

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Weekly Real Estate Buzz in West Redmond, Near Microsoft, Through October 16th, 2008

In For Buyers, For Sellers, Market Statistics, Microsoft, Real Estate news, Redmond, Weekly real estate updates on October 17, 2008 at 10:30 am
The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals.  All numbers are gathered mid-day on Thursdays from NWMLS information.     
                                   
Active listings:  78 (74)
New listings: 3  (3)
Sold Contingent: 0 (0)
Pending inspection: 1  (5)
Pending: 4 (1)
Closed Sales:   (3)
Rented: 0 (0) 
Price Reductions: 2 (6)
Price Increases: 0 (0)
Expired Listings: 0 (0)
Cancelled Listings: 1 (2)
Temp Off Market: 0 (0)
Back on Market: 1 (0)
———————————

$0-$349,999:            2 (2)

$350,000-$499,999:  13 (10 )

$500,000-$749,999:    35 (34)

$750,000-$999,999: 14 (14)

$1,000,000- $1,499,999:  7 (7)

$1,500,000- $2,999,999: 5 (5)

$3,000,000+                     2 (2)
———————————–
Average Price:    $855,174 ($869,466)

Median Price: $647,000 ($647,000)

Average Days on Market: 75 (79)

Highest Priced Listing: $3,950,000 ($3,950,000)

Lowest Priced Listing: $339,500 ($349,950)

A quieter week in Redmond, Washington real estate.  Listing numbers bumped up a bit from the previous week.

This week’s closed sales:

$443,700  Sammamish Forest Manors town home which was priced at $435,000. ***Beautifully remodeled, it sold in one day.  The price was increased by 2% because the seller paid the buyer’s closing costs and added it to the asking price.

$569,000  Sheffield Greens rambler. Original list price of $619,900, final asking price of $588,888.  Sold for  9 % below the original asking price.  ***Rare rambler in an upscale neighborhood of homes built by Burnstead near Microsoft’s Redwest Campus. This home was sold by my team.

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Weekly Real Estate Buzz In West Redmond, Near Microsoft, Through October 9th, 2008

In For Buyers, For Sellers, Market Statistics, Microsoft, Real Estate news, Redmond, Weekly real estate updates on October 9, 2008 at 6:40 pm
The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals.  All numbers are gathered mid-day on Thursdays from NWMLS information.     
                                   
Active listings:  74 (77)
New listings: 3  (4)
Sold Contingent: 0 (0)
Pending inspection: 5  (3)
Pending: 1 (3)
Closed Sales: 3  (7)
Rented: 0 (0) 
Price Reductions: 6 (8)
Price Increases: 0 (0)
Expired Listings: 0 (4)
Cancelled Listings: 2 (2)
Temp Off Market: 0 (0)
Back on Market: 0 (0)
———————————

$0-$349,999:            2 (2)

$350,000-$499,999:  10 (13 )

$500,000-$749,999:    34 (37)

$750,000-$999,999: 14 (13)

$1,000,000- $1,499,999:  7 (7)

$1,500,000- $2,999,999: 5 (4)

$3,000,000+                     2 (2)
———————————–
Average Price:    $869,466 ($845,789)

Median Price: $647,000 ($639,950)

Average Days on Market: 75 (79)

Highest Priced Listing: $3,950,000 ($3,950,000)

Lowest Priced Listing: $349,500 ($349,950)

In the Microsoft area, the number of homes for sale dropped for the second week in a row. There is less inventory in King County than there was during the summer.

Because of the location of the neighborhoods being close to Microsoft, Bellevue, Kirkland, and within easy commute of Seattle, the West Redmond area is one of the more “recesssion” proof on the eastside.  More homes sell in the $500-750,000 range on the eastside than in any other price range, and this is value of many of the homes in the neighborhoods around Microsoft. Five homes received offers this week and one home moved past the inspection to pending status, having received an offer a couple of weeks ago.  Price reductions were still happening as there were 6 this week and 3 home sales closed with the new owners moving into their new homes.

This week’s closed sales:

$495,000 Tri-level home sold in 13 days for about 1% below the original asking price of $499,950.  ***This was an original owner, having been occupied by the same owner since 1968, and very well maintained.

$538,000 for a town home style home with a lake view, originally priced at $589,000 with a final list price of $550,000.  This home sold for 7% below the original asking price.  ***Rare town home style home by the lake.

$550,000 Large mulit-level home in Ridgemont East with a Lake Sammamish view.   Priced originally at $599,000, reduced to $575,000, sold for 8% below the original asking price and on the market for 47 days.  ***View properties are in demand in this price range.  This home had a lot of square footage, over 3000, for the money.  Given its location and view, it would be a great home to remodel and upgrade.

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Weekly Real Estate Buzz for West Redmond, Near Microsoft, through October 2, 2008

In For Buyers, For Sellers, Market Statistics, Microsoft, Real Estate news, Redmond, Weekly real estate updates on October 3, 2008 at 4:39 pm
The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals.  All numbers are gathered mid-day on Thursdays from NWMLS information.                                      

 
Active listings:  77 (83)
 
New listings: 4  (5)
Pending inspection:3  ( 2 )

 

Pending: 3 (3)

Closed Sales:7  (1)

Sold Contingent:0 (0)

Rented: 0(0) 

Price Reductions: 8 (3)

Price Increases:    0   (0 )

Expired Listings:4 (0)

Cancelled Listings: 2  (1)

Temp Off Market: 0 (0)

Back on Market: (0)
———————————

$0-$349,999:            2 (1)

$350,000-$499,999:  12 (13 )

$500,000-$749,999:    37 (41 )

$750,000-$999,999: 13 (15)

$1,000,000- $1,499,999:  7 (7)

$1,500,000- $2,999,999: 4 (4)

$3,000,000+                     2 (2)
———————————–
Average Price:    $845,789 ($838,562)

Median Price: $639,950 ($639,950)

Average Days on Market: 79 (78)

Highest Priced Listing: $3,950,000 ($3,950,000)

Lowest Priced Listing: $349,950 ($349,950)

In the Microsoft area, the number of homes for sale dropped from last week’s high.  Even with all the financial news, activity was brisk.  There are people who still need to make a move for all the usual reasons, job change, marriage, divorce, and downsizing.  Three homes received offers this week and three homes moved past the inspection to pending status, having received offers a couple of weeks ago.  Price reductions were still happening as there were 8 this week and 7 home sales closed with the new owners moving into their new homes.

This week’s closed sales:

$340,000  Sammamish Forest Manors.  Rambler style town home was priced at $364,950 and sold in 21 days, with 2 bedrooms and 2 baths, sold for 7% below the asking price.  ***This a very popular and desirable floor plan as there are few one level townhomes with an attached two car garage.

$535,000  Midentry near Microsoft sold for FULL PRICE in ten days.  ***Great value and well priced with 5 bedrooms, updating, and a private backyard.

$550,000 Lake Sammamish Parkway home with a view.   Priced at $575,000, sold for 5% below the original asking price and on the market for 51 days.  ***View properties are in demand in this price range.

$560,000 Idylwood tri-level with an original price of $599,750, last list price of $584,750, 3 bedrooms and 2.5 baths, 2500 square feet, sold in 49 days for 7% below the asking price.  ***Nicely maintained home with a bright and light feel.

$629,000 Two story near Sheffield Greens with an original asking price of $689,000.  Sold in 83 days for 10% below the asking price.  2800 square feet with 4 bedrooms and 2.5 baths.  ***This home had good spaces and was located on a small cul-de-sac just a few blocks from Microsoft’s Redwest campus.

$$695,000 Manchester two story, near Microsoft’s main campus, with 2800 square feet, 4 bedrooms and 2.5 baths.  It took 161 days to sell. Originally priced at $749,950, last listing price was $719,950, sold for 8% below the original asking price. ***nicely updated on a street of beautiful homes just blocks from Microsoft.

$850,000 Parkpointe two story built in 1996 with 3 bedrooms, 2.5 baths, 3220 square feet. Original price of $899,500, sold in 67 days for 6% below the original asking price. ***Nice newer neighborhood which ends in a cul-de-sac near Microsoft’s main campus.  It’s hard to find neighborhoods of this size near Microsoft that were built after 1990.

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