Debra Sinick

Archive for December, 2008|Monthly archive page

Redmond’s Microsoft-Are Changes Coming?

In For Buyers, For Sellers, Local information, Microsoft, Redmond on December 26, 2008 at 11:30 pm

I reported on my Kirkland blog about Google’s decision to lease about 40% of their new office space out to other hi-tech companies and while researching blogs about the topic, I  found a blog post about the possibility of Microsoft downsizing in mid-Januarymicrosoft sign

This  clearly is important information for the neighborhoods around Microsoft.  As I mentioned in a previous post, not every home near Microsoft sells to a Microsoftie, but many homes have in the past. There have been many Microsoft home buyers who liked the idea of living just minutes from work. Changes in  hiring and/or layoffs at Microsoft will no doubt affect the real estate in the area, but the West Redmond/East Bellevue area is still a fabulous location  for those working in Redmond, Bellevue, and Seattle.

Here are the reasons I mentioned in the previous blog post mentioned above:

  • Redmond is close to employment centers in Bellevue, Redmond, Kirkland, and Seattle.
  • Redmond’s location provides shorter commutes.
  • Available public transportation.
  • Some of the more affordable housing on the eastside.  The eastside is not an inexpensive area, but the majority of homes in the Redmond area fall in the $500-750,000 range.  The number of homes available in the $400+ range is also increasing.
  • Good schools.
  • Convenient shopping centers, such as Redmond Town Center.
  • Great parks.

Will next year bring changes to real estate in the neighborhoods around Microsoft?  More than likely, yes. But the area still holds most of the eastside real estate cards.  It’s still one of the best places to live on Seattle’s Eastside.

Happy Holidays to Redmond, Washington

In Uncategorized on December 24, 2008 at 7:25 pm

christmas decorations

Happy Holidays

Be Happy and Healthy

Spend Time with Your Friends and Family

Have a wonderful 2009

(Weekly real estate statistics will return after the first of the year)

Weekly Real Estate Buzz in West Redmond, Near Microsoft, Through December 18th, 2008

In For Buyers, For Sellers, Market Statistics, Microsoft, Real Estate news, Redmond, Weekly real estate updates on December 18, 2008 at 10:49 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:  61 (59)
New listings: 1 (6)
Sold Contingent: 0 (0)
Pending inspection: 2 (1)
Pending: 0 (0)
Closed Sales:  4 (1)
Rented: 0 (0)
Price Reductions: 1 (3)
Price Increases:0 (0)
Expired Listings: 0 (5)
Canceled Listings: 0 (1)
Temp Off Market: 0 (0)
Back on Market: 0 (0)
———————————

$0-$349,999:            2 (1)

$350,000-$499,999:  10 (11)

$500,000-$749,999:    29 (27)

$750,000-$999,999: 10 (10)

$1,000,000- $1,499,999:  6 (6)

$1,500,000- $2,999,999: 3 (3)

$3,000,000+                     1 (1)
———————————–
Average Price: $814,262($822,144)

Median Price: $650,000 ($648,000)

Average Days on Market: 105 (102)

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

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

The numbers of homes for sale is still significantly lower than just a few weeks ago.  Hopefully, this trend will continue.


Closed sales:

$400,000 View Ridge rambler with 1500+ square feet, 3 bedrooms, and 1.75 baths. Nicely updated with an original asking pricep of $599,950.  Sold in 102 days for 33% below the original asking price.

****At the final sales price, the home was a terrific value and below the prices of the rest of the homes in the neighborhood.

$422,500 View Ridge rambler with 1300+ square feet, 3 bedrooms, 1.5 baths, original list price of $458,500, sold in 68 days for for 9% below the original asking price.

****This home was my listing and was beautifully updated with gorgeous hardwood floors, remodeled kitchen with cherry cabinets, stainless steel appliances, new windows, and new roof.

$510,000 remodeled rambler in Bristol Woods.  Originally priced at $521,000, sold for $510,000, about 2% below the original asking price.

****Beautifully updated, this home was beautiful.

$535,000 Trilevel in Edgebrook with 3 bedrooms, 2.25 baths, and 2600 square feet.  Original list price of $624,950.  Sold for 15% below the original asking price.

****another beautifully updated home on a nice lot.


I attended  a workshop a couple of weeks ago at The Bravern in downtown Bellevue conducted by Dr. Michael Palmer from The Leed School of Business at The University of Colorado.  His take was that nothing would change for the better with the economy until at least the summer of 2009, although it could be 18 months.  If you click on the link above, you can follow Dr. Palmer’s presentation.   Will lower interest rates and a new administration change things?  There is hope that will help to do the trick.  But consumer confidence must be restored to make things work with the economy in general.

Real Estate, Redmond, and Real Estate Signs

In Local information, Real Estate news, Redmond, Uncategorized on December 15, 2008 at 5:35 am

“Sign, sign,everywhere a sign”  (Lyrics from the 5 Man Electrical  Band)  There have been signs all over Redmond for all kinds of things.  Real estate signs, signs for new construction neighborhoods, signs for mattress sales, signs for store sales, signs for store closings.

The Redmond City Council revisited the sign ordinances.  The writers of the Redmond blog sent me a link to a post about the changes in Redmond city sign ordinances. Bob Yoder thought I would find the article interesting because Realtors are known for posting signs all over a neighborhood when selling a home.

  • Will the inability to put up arrow signs on street corners advertising a home for sale damage a home seller?
  • Do homes listed for sale need to be  advertised with signs on street corners or does a sign in front of the house do the trick?

Arrow signs posted at street corners are no longer necessary.  These signs don’t do it anymore. real estate arrow signsin fact, I think the preponderance of real estate arrow signs can actually hurt someone trying to sell  a home.  The number of signs gives the impression there is a fire sale happening.  Posting arrow signs is from the old school of real estate marketing.

In today’s world of real estate internet marketing, home buyers find the homes they wish to see on the internet or through their Realtor.  Most real estate company websites have great mapping software accompanying the  listing for a home.   Google maps with street level photos also adds a pretty exciting dimension to “viewing” some of the  home online.  Company and individual Realtor websites have maps which accompany a listing for a home.  Here’s a sample of how you can find a home online with Google Maps.  The map link is for a home I have listed for sale in the Gleneden neighborhood in Redmond at 18503 NE 25th St.

View Larger Map

My personal website, www.debrasinick.com has a page giving all the details about this home, including a link to a parcel map showing the property lines from the air. The Windermere Real Estate website also has a map page showing the location of the home. You can get directions from Google Maps or from Mapquest.

Do I believe open house A-boards are still necessary for both the public and Realtors? The A-Boards help advertise a specific event, an open house, unlike arrow signs which are posted in the ground on street corner, continually advertising a home for sale.  The A-Boards allow Realtors and people buying a home to travel more quickly from home to home.  Redmond allows 3 A-Boards for each open house.  This is still a good thing!

Not allowing arrow signs on street corners will not hurt the consumer, the home seller, but will help to keep the integrity of the neighborhoods for everyone.

Weekly Real Estate Buzz in West Redmond, Near Microsoft, Through December 11th, 2008

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on December 12, 2008 at 12:00 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:  59 (59)
New listings: 1 (6)
Sold Contingent: 0 (0)
Pending inspection: 1 (3)
Pending: 0 (3)
Closed Sales:  1 (4)
Rented: 0 (0)
Price Reductions: 1 (3)
Price Increases:0 (0)
Expired Listings: 0 (5)
Canceled Listings: 0 (1)
Temp Off Market: 0 (0)
Back on Market: 0 (0)
———————————

$0-$349,999:            1 (2)

$350,000-$499,999:  11 (11)

$500,000-$749,999:    27 (27)

$750,000-$999,999: 10 (11)

$1,000,000- $1,499,999:  6 (5)

$1,500,000- $2,999,999: 3 (2)

$3,000,000+                     1 (1)
———————————–
Average Price: $822,144 ($800,246)

Median Price: $650,000 ($648,000)

Average Days on Market: 102 (95)

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

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

The amount of homes for sale in Redmond, near Microsoft, has stayed at the same number for the last two weeks.  The number of homes for sale has declined in recent weeks, much like the inventory in the rest of the county.

Closed sales:

$637,5 00 Braeburn daylight rambler with an original asking price of $686,000, final asking price of $650,000.  The home sold in 22 days for about 8% below the original asking price.

***This home was an impeccable daylight rambler in a community with a clubhouse and a 9 hole golf course all close to Microsoft.

There’s a possibility interest rates will go well below 5% to 4.5% next year, which would be just terrific for home buyers, and subsequently, home sellers.  Several articles were posted about the possibility of the new interest rates. Not everyone is of the mind that the lower rates will work.  The Wall Street Journal’s take on the possible new rate, according to June Fletcher, is that the rates will not work.

The Housing Wire, a real estate blog, also voiced their opinion about the projected interest rates.

Last, but not least, NPR had a story on the new rates.

IMHO, more people need to feel confident in the economy to make a move.


Redmond Washington Real Estate, Microsoft, and hiring

In For Buyers, For Sellers, Real Estate news, Redmond, Uncategorized on December 9, 2008 at 3:23 pm

microsoft campus signMicrosoft is doing less hiring. I heard about this a few months back from friends and clients  who work at the company.  Now Microsoft’s hiring slowdown is more public, being reported on in last week’s Seattle P-I.  This is big news for Seattle/Eastside real estate, but particularly for those who live near the main Microsoft campus in Redmond.

For 22 years, I’ve been selling homes in the West Redmond area, around the main campus and the Redwest campus of the company.  Microsoft employees live all over the Puget Sound region,  but many of the Microsoft employees live close to work.  Redmond and Bellevue real estate  has been hugely impacted by the company.

The neighborhoods around Microsoft has been the strongest on the eastside for selling a home for several years.  Most months of 2007-08,  the Redmond/Microsoft area had a higher percentage of real estate sales than any other eastside area.   The real estate sales activity I report on each week on this blog is directly impacted by Microsoft.

Does the change in Microsoft’s hiring affect Redmond real estate sales activity?  Yes, but fortunately, there are other reasons why Redmond will continue to be a one of the stronger areas on the eastside for real estate investments.

  • Redmond is close to employment centers in Bellevue, Redmond, Kirkland, and Seattle.
  • Redmond’s location provides shorter commutes.
  • Available public transportation.
  • Some of the more affordable housing on the eastside.  The eastside is not an inexpensive area, but the majority of homes in the Redmond area fall in the $500-750,000 range.  The number of homes available in the $400+ range is also increasing.
  • Good schools.
  • Convenient shopping centers, such as Redmond Town Center.
  • Great parks.

These are only some of the reasons Redmond will be continue to be one of the more popular places to live.  Real estate sales are slower and prices have taken a tumble, and may be for a while, but Redmond, Washington has the amenities which will help it come back faster than other areas.

Weekly Real Estate in West Redmond, Near Microsoft, Through December 4th, 2008

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on December 5, 2008 at 10:49 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.  Because of the Thanksgiving holiday,  I’m reporting on sales activity for the last two weeks.

Active listings:  59 (62)
New listings: 6 (2)
Sold Contingent: 0 (0)
Pending inspection: 3 (1)
Pending: 3 (4)
Closed Sales:  4 (3)
Rented: 0 (0)
Price Reductions: 3 (9)
Price Increases:0 (2)
Expired Listings: 5 (1)
Canceled Listings: 1 (3)
Temp Off Market: 0 (0)
Back on Market: 0 (1)
———————————

$0-$349,999:            1 (2)

$350,000-$499,999:  11 (11)

$500,000-$749,999:    27 (29)

$750,000-$999,999: 11 (11)

$1,000,000- $1,499,999:  6 (5)

$1,500,000- $2,999,999: 2 (3)

$3,000,000+                     1 (1)
———————————–
Average Price: $800,246 ($806,298)

Median Price: $648,00 ($644,475)

Average Days on Market: 95 (97)

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

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

What a drop in the number of homes for sale over the past month!  The inventory of homes for sale in Redmond, by Microsoft, is the lowest it’s been since the middle of May.    People have taken their homes off the market  during the holidays or feel they can’t get the price they’d like.   It’s tough out there, so homes need to be fabulous in price and condition.

It was interesting to see that all the home sales that closed the past two weeks sold fairly quickly. The homes were well priced, showed well or had a unique feature.

Countywide numbers are down both in inventory (a good thing) and sales (not such a good thing).  This week there are 13, 461 properties for sale, the lowest amount since April of this year.

Closed sales:

$377,000  Original price was $399,000, sold in 46 days for about 7% below the asking price.  This Kennebec town home had 3 bedrooms and 1.5 baths.

*** Located off Lake Sammamish Parkway, it backed to Marymoor Park and shared a neighborhood dock.

$565,000 with original asking price of $580,000 for a two story home with 2200+ sq ft. near Idylwood Park, sold for 3% below the original asking price.

***Home had a 1000+ square foot unfinished basement, a real plus.

$640,000. Two story colonial style home. Asking price of $650,000, down from the original price of $685,000 and selling for about 7% below the original asking price.

*** Remodeled kitchen, upgraded windows, beautifully done.

$795,000 newer style two story which sold for FULL PRICE in 6 days.  With 5+ bedrooms, 2970 square feet, and 2.5 baths.

***This home was extremely well priced.

Redmond Washington’s Fabulous Village Road Show Gold Cinema Experience

In Exploring Redmond, Redmond, Things to do in Redmond on December 4, 2008 at 6:32 pm

Have you been to The Village Road Show Gold Cinema?redmond-gold-show I finally got there this past weekend.  It was a lot of fun and definitely a different movie experience.  No sticky floors, great service, good food, clean bathrooms, and…quiet!  for those of you unfamiliar with this type of movie theater, here’s an earlier post I wrote about the cinema.

The theater space has been beautifully redone in charcoal grays, with touches of brown and orange.

redmond-gold-show

A sleek fireplace adds a nice “warm” touch. Gorgeous art decorates the space.redmond-gold-show

There are built in couches, comfy club chairs and a huge bar area.

You are asked to arrive 30-45 minutes before the movie starts to settle in and enjoy the lounge. When you arrive, you pick up your tickets and are escorted to a seat.  The host offers to take your coat and get you a drink.     While relaxing in the lounge, you order the food which is brought to you during the show.

The menu offers smaller, bigger, and sweeter plates. Small plates cover a variety of things:  crab cakes, lobster rolls, blue chees potato chips.  Bigger plates include a pasta, a couple of pizzas,duck tacos, and burgers.  My husband and I shared the lobster rolls which were crispy, meaty, and came with some good sauces.  Ravioli was my main course and my husband had the duck tacos.  I liked my appetizer more than my main course.

During dinner and the show, we pressed the call light on the table and were able to order a bottle of wine.  By the way, it’s great how they serve you as you watch the film, but it is interesting eating in the dark. I particularly noticed this when a piece of my delicious chocolate truffle cake ended up in my lap.  My advice is to use your napkin to cover a lot of area.  Remember, it’s dark and no one can see you.

Did I mention the seats? I thought I’d died and gone to heaven, particularly after another recent movie theater experience in which I almost jumped out of the terrible seats.  These seats are fabulous.  Four seats are placed together.  Each seat is a fabulous recliner, very spacious and comfortable.  I think it was only missing one thing, one of those massage features. Oh, and they will bring you blankets.  I would have loved one, but thought I might just relax and fall asleep.

The theater itself held just 40 seats and was decorated in the same theme as the lobby.  It was quiet, comfortable and allowed me to become completely engrossed in the movie.  It was a pleasure!

Would I go again?  Yes, I haven’t relaxed and enjoyed a movie like this ever.  However, it’s a special experience.  Seats reserved on the phone or the internet cost an extra $3, adding to the basic price of $27.  Food and drink, of course, are extra.  If you want to experience this theater and not go all out,  just have drinks or an appetizer.  It will be a fun, special experience. Have a good time and see you at the movies!

Have you had a chance to check the cinema out?  What did you think?

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