Debra Sinick

Archive for May, 2009|Monthly archive page

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Weekly Real Estate Buzz in West Redmond, Near Microsoft, Through May 28th ,2009

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on May 29, 2009 at 4:03 pm


View Larger MapIn real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center 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.

The area represented by the statistics posted below is Redmond, 98052, south of highway 908 and east of 140th Ave NE. The neighborhoods are all within shouting distance of Microsoft.  In real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center 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. (Wednesday this week!)

Number of homes for sale: 75 (79)

New listings: 3 (14)

Sold Contingent: 0 (0 )

Pending inspection: 5 (1)

Pending: 3 (5)

Closed Sales: 1 (3)

Rented: 0 (0)

Price Reductions: 7 (4)

Price Increases:0 (1)

Expired Listings: 0 (0)

Canceled Listings: 0 (2)

Temp Off Market: 0 (0)

Back on Market: 2 (0)

Re-listed: 0 ( 1)

———————————

$0-$349,999: 3 (3)

$350,000-$499,999:25 (26)

$500,000-$749,999: 26 (28)

$750,000-$999,999: 12 ( 13 )

$1,000,000- $1,499,999: 6 (6)

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

$3,000,000+ 0 (0)
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Average Asking Price of Homes for Sale: $698,097 (695,578)

Median Asking Price of Homes for Sale:  $579,900 ($579,900)

Average Days on Market: 89 (83)

Highest Priced Listing: $2,388,000 ($2,388,000)

Lowest Priced Listing: $299,900 ($299,900)

Phew!   Only 3 new listings came on the market this week, unlike last week when there were a record breaking 14 new listings on the market. Three homes for sale received and accepted offers, 5 homes moved beyond the inspection phase and are now pending, both signs of an active real estate market in the area.  Price reductions are still happening at a strong pace, as 7 homes reduced asking prices this week.  Competition is still strong, but we’ve seen several homes sell in a matter of days because they were priced well and showed well.  One example is a tri-level in Braeburn that came on the market for $499,950 and was sold quickly.  The home was immaculate, had a beautiful sunroom, and a gorgeous yard, making it very desireable.

Closed Sales Of The Week

$430,000 Rambler in View Ridge with 1300+ square feet, 3 bedrooms, and 1.75 baths.  This home was only on the market for 9 days and sold for slightly over 3% below its asking price of $445,000.

****It’s rare in this market for a home to sell for its full asking price, even in multiple offer situations or if the home is on the market for s short time.  A  home selling just a few percent below the asking price in a few days, is actually terrific news.

One piece of real estate news is  mortgage rates have gone up to about 4.91% per a report on Thursday’s MSNBC. We must also remember an interest rate in the high 4′s or low 5′s is still incredible and at historic low’s.  Putting this increase into perspective, rates are still absolutely phenomenal.  I expect the increase in rates may affect refinances more than new buyers.

Have a great weekend and get out enjoy the sun.  For those of you who want to play “Antiques Road Show” for a day, bring your antiques to be appraised at the Redmond Senior Center on Saturday.

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Weekly Real Estate Buzz in West Redmond, Near Microsoft, Through May 20th, 2009

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on May 21, 2009 at 5:03 pm


View Larger MapIn real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center 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.

The area represented by the statistics posted below is Redmond, 98052, south of highway 908 and east of 140th Ave NE. The neighborhoods are all within shouting distance of Microsoft.  In real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center 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. (Wednesday this week!)

Number of homes for sale: 79 (69)

New listings: 14 (3)

Sold Contingent: 0 (0 )

Pending inspection: 1 (0)

Pending: 5 (2)

Closed Sales: 3 (2)

Rented: 0 (0)

Price Reductions: 4 (3)

Price Increases:1 (0)

Expired Listings: 0 (0)

Canceled Listings: 2 (2)

Temp Off Market: 0 (0)

Back on Market: 0 (0)

Re-listed: 1 ( 1)

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$0-$349,999: 3 (3)

$350,000-$499,999:26 (22)

$500,000-$749,999: 28 (24)

$750,000-$999,999: 13 ( 13 )

$1,000,000- $1,499,999: 6 (4)

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

$3,000,000+ 0 (0)
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Average Asking Price of Homes for Sale: $695,578 (695,798)

Median Asking Price of Homes for Sale:  $579,900 ($570,000)

Average Days on Market:83 (92)

Highest Priced Listing: $2,388,000 ($2,388,000)

Lowest Priced Listing: $299,900 ($320,000)

Wow, this may be the most number of homes for sale in Redmond that I’ve seen come on the market during one week in a very long time! The new listings range in price from $400,000 for a town home in Marymoor Trails to new construction near Lake Sammamish priced just over $1,000,000.  There are a number of ramblers priced between $450-625,000 that are new to the market.  The Redmond real estate market near Microsoft is more positive right now, so it may be just fine to see so many more homes for sale in Redmond.  Real estate sales are up all over King County and the Redmond area is once again the strongest on the eastside.

Even with all these new listings, we’re still seeing a healthy turn-over as homes are selling in Redmond.  This past week there were 5 pending sales and one sale that is now going through its inspection. Each of these homes received offers this week.  The asking prices for the these homes was between 360k and the high 700′s.

Closed Sales Of The Week

$461,000 Woodford mid-entry home  near Microsoft  with 2200+ square feet.5 bedrooms, 2.75 baths, and  totally remodeled.  Original asking of $595,000 with a last asking price of $500,000.  Sold for 24% below the original asking price in 481 days.

****This was a great price for this home.  It was nicely remodeled and when the price dropped below $500,000, an important price point, the home started to get noticed.  It’s a class case of good pricing making the difference in a sale.

$625,000  Camwest new construction two story home with 2593 square feet, 4 bedrooms, and 2.5 baths.  Originally priced at $699,950.  Last asking price of $674,950.  This home sold in 287 days for 11% below the original asking price.

****Builders are being a lot more flexible with pricing and upgrades to get their homes sold.

$750,000  Bella Serra new construction home with 4 bedrooms, 4 baths, and 3400 square feet.  Original price of $979,800, last asking price of $768,000, sold in 265 days for  24 % below the original asking price.

****Motivated builder who was pricing new construction very competitively.

Have a great holiday weekend.  Enjoy the sunshine!

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Redmond’s Spiritbrook and Westside Parks Are Getting Makeovers

In Local information, Redmond on May 19, 2009 at 6:48 pm

Two of  Redmond parks are scheduled for a makeover and these parks are right in your neighborhood. The two parks are Spiritbrook and Westside Parks. The project is in its beginning stages and the city of Redmond is looking to you and your kids for some input. This is a great opportunity to share your ideas with Redmond officials.

Parks are a huge draw for people and help the value of the homes in the area. When I market homes in the area, I always advertise the accessibility to the parks.   With Marymoor, Grasslawn, Idylwood, and the two smaller parks of the area, Spiritbrook and Westside, there’s a great number of opportunities for people, dogs, and kids.  The Grasslawn Park “redo”  is just fabulous and something I like to advertise when selling real estate in the area.  Marymoor with its dog park, pea patch, climbing structure,  ball fields, and playground is one of the best parks in all of King County. Westside Park needs an update and a little excitement added to it as evidenced by the one review posted on Google maps below.  I do agree.  There are exciting things that can be done to create fun play areas.  What do you think about these two parks and the need for remodel?

Help to increase the value of your home and the ambiance of living in the area by giving your input at the following meetings:

Ben Rush Elementary Library, 6101 152nd Ave NE, Redmond.

Spiritbrook Park meeting:  Thursday, May 21st from 7-8:30 PM

Westside Park meeting:   Wednesday, May 20th, 7-8:30 PM

Spiritbrook Park

Spiritbrook Park


View Larger Map
Redmond-Westside Park

Redmond-Westside Park


View Larger Map

The project is in its beginning stages, so the city of Redmond is looking to you and your kids for some input.

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Weekly Real Estate Buzz in West Redmond, Near Microsoft, Through May 14th, 2009

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on May 15, 2009 at 10:55 am


View Larger MapIn real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center 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.

The area represented by the statistics posted below is Redmond, 98052, south of highway 908 and east of 140th Ave NE. The neighborhoods are all within shouting distance of Microsoft.  In real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center 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.

Number of homes for sale: 69 (69)

New listings: 2 (3)

Sold Contingent: 0 (0 )

Pending inspection: 0 (5)

Pending: 2 (0)

Closed Sales: 2 (2)

Rented: 0 (0)

Price Reductions: 3 (6)

Price Increases:0 (0)

Expired Listings: 0 (0)

Canceled Listings: 2 (1)

Temp Off Market: 0 (0)

Back on Market: 0 (0)

Re-listed: 1 ( 3)

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$0-$349,999: 3 (3)

$350,000-$499,999:22 (22)

$500,000-$749,999: 24 (23)

$750,000-$999,999: 13 ( 14 )

$1,000,000- $1,499,999: 4 (4)

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

$3,000,000+ 0 (0)
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Average Asking Price of Homes for Sale: $695,798 (700,725)

Median Asking Price of Homes for Sale:  $570,000 ($577,450)

Average Days on Market:92 (90)

Highest Priced Listing: $2,388,000 ($2,388,000)

Lowest Priced Listing: $299,900 ($320,000)

We’re seeing stronger real estate sales on Seattle’s Eastside.  This week’s real estate activity for the eastside ranks among the top ten weeks for home sales since July of 2007!  What’s happening in Redmond?  If you look at the monthly update in which I talk about the absorption rate, the chances of selling in Redmond and East Bellevue are back on top of all the areas of Seattle’s Eastside. In April, the number of homes for sale was down and the number of homes sold was up!

This week’s good news is the $8000 tax credit to first time buyers can, in fact, be used for the buyer’s down payment. This will continue to help boost real estate sales as more buyers are able to enter the market.

Closed Sales Of The Week

$295,000 Rambler  near Microsoft home with 1840 square feet and 3 bedrooms, 1.75 baths. Last asking price was $380,000.  Originally priced at $475,000 and was on the market for 235 days total before it sold.  Sold for 38 % below the original asking price.

****I have not seen this home, but the selling price has got to be the reason it sold.  Nothing in the area has sold anywhere near this price.

$459,000 Mid-entry home east of Microsoft, originally priced at $499,900 with a last asking price of $475,000.  Sold for 9% below the original asking price in 197 days.

****This was a great price for this home.  Although located on a busier road, some of its competition has been priced over $500,000.

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What Were The Chances of Selling Your West Redmond Home, Near Microsoft, in April 2009?

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on May 15, 2009 at 7:41 am

Sellers had a 23% chance of getting a home sold in West Redmond and East Bellevue, both neighborhoods near Microsoft, in March, 2009.

(the numbers for the chart below may vary slightly from the MLS statistics posted in the above link, but the variation is slight.  The overall trend in the market is the same.)

Redmond/Bellevue real estate activity in April 2009


The chance of selling a home is determined by the absorption rate, which is the percentage of homes that sell each month compared to the number of  homes for sale.  If there’s a 10% chance a home sells, then 10 out of 100 home sellers accepted an offer on their home during that month.  Ninety out of 100 home sellers did not get a mutually accepted offer.

April, 2009             260 homes for sale,       60 homes sold,           23% chance of selling.

March, 2009          289 homes for sale         43 homes sold,           15% chance of selling.

April, 2008             295 homes for sale,       45 homes sold,           15% chance of selling.

Over the last few years, the Redmond and East Bellevue neighborhoods near Microsoft have been among the strongest areas to sell a home on the eastside and it looks like the area is ready to reclaim the title as the strongest Seattle eastside area for selling a home.

It’s exciting to see the real estate market in Redmond improving.  Are prices going up?  Not yet, the median sales price decreased from $608,998 to $500,000 a decrease of 18%. but home sales activity has increased.  More homes sold this past month than any month since 2007.  Sales were up 15% over last year and the number of homes for sale, the inventory was down by 6%.

The federal government is going to allow the $8000 tax credit for first time home buyers to be used towards a buyer’s down payment. This is great news which should continue to energize the real estate market.

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Redmond’s Ben Rush Students’ Walk-A-Thon Is a Success!

In Redmond, School news on May 14, 2009 at 1:38 pm
Redmond’s Ben Rush Walk-Athon probably should have been called a run-athon.  Last Friday evening at 5 PM, Angie Bondurant, my business partner in The Debra Sinick Group,  and I stopped by to see how the kids were doing with their walk-athon to raise money for their new playground equipment.  Each student had solicited pledges for a certain amount of money per lap per lap walked (or run) around the school. The kids were really into it.  Most were running and this was after running earlier in the day and all week during gym.  Some kids had done 40-50 laps around the school just on Friday. The energy level was just terrific.  These kids were really excited and having a lot of fun.  Parents were also running and walking alongside their kids.
Today I heard from Kristen McGaw of Ben Rush’s PTA and the students walked/ran a total of 21,000 laps around the school and they raised $17,000.  Look for the new playground equipment to be installed over the summer.
Redmond=Ben Rush-Walkathon School SignKeeping up the paceRedmond's Ben Rush Walk-Athon

Redmond's Ben Rush Walk-Athon

Redmond's Ben Rush Walk-Athon or Run-Athon?

Redmond's Ben Rush Walk-Athon or Run-Athon?

After all this the students and their families had a barbecue.  Angie and I were excited to support this worthwhile cause and look forward to seeing the new playground equipment installed.

Kymberly Meade accepting The Debra Sinick Group Donation

(This photo shows me handing an envelope with our check to Kymberly Meade of the Ben Rush PTA.)

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Weekly Real Estate Buzz in West Redmond, Near Microsoft, Through May 7th, 2009

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on May 8, 2009 at 7:35 pm

The year 2009 will continue to present all of us with new challenges, but homes will sell and buyers will buy those homes that are the best of the best.


View Larger MapIn real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center 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.

The area represented by the statistics posted below is Redmond, 98052, south of highway 908 and east of 140th Ave NE. The neighborhoods are all within shouting distance of Microsoft.  In real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center 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.

Number of homes for sale: 69 (70)

New listings: 3 (4)

Sold Contingent: 0 (0 )

Pending inspection: 5 (0)

Pending: 0 (2)

Closed Sales: 2 (1)

Rented: 0 (0)

Price Reductions: 6 (3)

Price Increases:0 (0)

Expired Listings: 1 (1)

Canceled Listings: 1 (2)

Temp Off Market: 0 (0)

Back on Market: 0 (2)

Re-listed: 3 ( 1)

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$0-$349,999: 3 (3)

$350,000-$499,999:22 (21)

$500,000-$749,999: 23 (22)

$750,000-$999,999: 14 ( 17 )

$1,000,000- $1,499,999: 4 (4)

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

$3,000,000+ 0 (0)
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Average Asking Price of Homes for Sale: $700,725 (711,645)

Median Asking Price of Homes for Sale:  $577,450 ($577,450)

Average Days on Market:90 (88)

Highest Priced Listing: $2,388,000 ($2,388,000)

Lowest Priced Listing: $299,900 ($320,000)

It was a pretty active week for Redmond real estate near Microsoft.  For the first time in weeks, 5 homes got offers.  It’s still a very competitive market as 6 homes reduced prices, but there clearly is more activity and excitement.  It’s refreshing to see this happening in the Seattle-Eastside real estate market.  Each of the last six weeks are among the top ten best weeks for selling a home in King County since July 2007.

Last week’s other good news was The Washington State legislature passed a plan to use  the $8000 tax credit towards a buyer’ down payment.

This week, The Washington State Housing Authority had this to say about the program:

“The state legislature passed a bill allowing us to administer a program.  However, the program is not up and running.  There are a number of issues that need to be addressed before a viable program can be released. We currently do not have a time table.”

Hopefully, the state will get this plan in gear so we do not lose too much time and too many buyers.  I’ve had a huge number of people reading my post about the plan, which indicates there’s a lot of interest.  Buyers need options and we need to give it to them.  There is definite interest in buying homes.

I will be presenting the monthly statistics with the absorption rate in another post.  The news on the horizon is the most positive we’ve seen in over a year.  Have we reached bottom for the housing market?

President Obama and economists are cautiously optimistic, according to an NPR story on “All Things Considered.” Job losses were below 600,000 this past month, still a daunting number, but better than the past 6 months.

Happy Mother’s Day to all!

Closed Sales Of The Week

$610,000  Two story near Microsoft home with 2800+ square feet and 4 bedrooms, 2.5 baths. Last asking price was $629,000.  Originally priced at $648,000 and was on the market for 116 days total before it sold.  Sold for 6% below the original asking price.

****A traditional two story in a lovely neighborhood very close to Microsoft.   Located at the end of a cul-de-sac.

$660,000 Newer style two story that was originally priced at $609,000 during its most recent listing time period.  (It was on the market in 2008 in the mid 800′s).  This home may have been a foreclosure and was bought by a company who turned around and “flipped” it.  This is what appears to be  what I can gather from the tax records.  The home had previously sold for over $1 million dollars!

****Since it was such an incredible buy, there were 9 offers for the home.



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The Students of Redmond’s Ben Rush Elementary School Need Your Help

In Local information, Redmond on May 1, 2009 at 3:54 pm

Ben Rush Walk-Athon

The Ben Rush students are in the midst of raising money for their new playground equipment.  If they knock on your door this weekend, please contribute.  Their goal is to raise $10,000 for new equipment. Thanks!

Here’s a few of the play structures proposed for the new playground.

A lot of thought has gone into developing the different options.

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Weekly Real Estate Buzz in West Redmond, Near Microsoft, Through April 30th, 2009

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on May 1, 2009 at 2:16 pm

The year 2009 will continue to present all of us with new challenges, but homes will sell and buyers will buy those homes that are the best of the best.


View Larger MapIn real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center 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.

The area represented by the statistics posted below is Redmond, 98052, south of highway 908 and east of 140th Ave NE. The neighborhoods are all within shouting distance of Microsoft.  In real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center 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.

Number of homes for sale: 70 (66)

New listings: 4 (2)

Sold Contingent: 0 (0 )

Pending inspection: 0 (1)

Pending: 2 (3)

Closed Sales: 1 (1)

Rented: 0 (0)

Price Reductions: 3 (3)

Price Increases:0 (0)

Expired Listings: 1 (2)

Canceled Listings: 2 (0)

Temp Off Market: 0 (0)

Back on Market: 2 (0)

Re-listed: 1 ( 2)

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$0-$349,999: 3 (3)

$350,000-$499,999:21 (19)

$500,000-$749,999: 22 (23)

$750,000-$999,999: 17 ( 14 )

$1,000,000- $1,499,999: 4 (4)

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

$3,000,000+ 0 (0)
———————————–
Average Asking Price of Homes for Sale: $711,645 (723,410)

Median Asking Price of Homes for Sale:  $577,450 ($579,950)

Average Days on Market:88 (89)

Highest Priced Listing: $2,388,000 ($2,685,000)

Lowest Priced Listing: $320,000 ($320,000)

Last week, I mentioned that The Washington State legislature is considering a plan to use the $8000 tax credit towards a buyer’ down payment, and, yes, it passed! This is great news and should help more first time buyers get into the market, freeing up move-up buyers to move on, too. The state has not decided how it will implement the plan as of yet, but stayed tuned and I will report on it on this blog.

Another piece of good news is there were 560 home sales in King County this week, the second highest number of weekly home sales since July, 2007! Five of the last 8 weeks have had home sales near the top of the charts for the last two years.

The real estate market is still very realistic, but there is a more positive spin on it as of late.  With the historic low interest rates, low prices, and the stimulus package for first time buyers, this could be a terrific time to buy.

Closed Sale Of The Week

$470,000  Spiritbrook one and half story home with 2300+ square feet and 5 bedrooms, 2 baths. Last asking price was $489,950.  Originally priced at$549,950 and was on the market for 182 days total before it sold.  Sold for 15% below the original asking price.

****This home sold after it was priced more realistically for the market and it was staged.  The first time it was listing, there were photos on the internet of empty rooms, which is never a good idea. In the long run, it can cost a home seller a lot of money to sell a home without any staging.


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