Debra Sinick

Archive for July, 2009|Monthly archive page

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Weekly Real Estate Buzz in West Redmond, Near Microsoft, 7-30-09

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on July 30, 2009 at 10:03 pm


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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 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: 74(72)

New listings: 0 (5)

Sold Contingent: 0 (1 )

Pending inspection:1 (6)

Pending: 2 (4)

Closed Sales: 4 (5)

Rented: 0 (0)

Price Reductions: 7 (4)

Price Increases:0 (0)

Expired Listings: 0 (1)

Canceled Listings: 1 (2)

Temp Off Market: 0 (1)

Back on Market: 1 (2)

Re-listed: 3 ( 2)

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$0-$349,999: 1 (1)

$350,000-$499,999: 20 (20)

$500,000-$749,999: 37 (34)

$750,000-$999,999: 8 ( 9 )

$1,000,000- $1,499,999: 7 (7)

$1,500,000- $2,999,999: 0 (0)

$3,000,000+ 1 (1)
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Average Asking Price of Homes for Sale: $686,077 ($692,052)

Median Asking Price of Homes for Sale: $577,000 ($586,850)

Average Days on Market: 98 (93)

Highest Priced Listing: $3,400,000 ($3,400,000)

Lowest Priced Listing: $315,000 ($315,000)

New listings: No new listings came on the market which, hopefully, will help some of the homes already on the market get offers.  This is the first week in a long time that nothing new has come on the market. 

Price reductions: Price reductions were high this week as 10% of the homes for sale reduced their asking price.

Home sales: One home received an offer and is working through the inspection.  Two homes had the inspections satisfied and are now pending.  The homes receiving offers were in the 600k range.  The pending sale was in the mid 700′s range.

Three of the four home sales that closed this week had significant price reductions and long market time before selling.  One home sold only 2% below the asking price because it was priced right and showed well from the “get go.” This home sold in 7 days.

Price your home and stage it well and it will sell.  Beat the competition to start and you’ll sell your home for more in the long run.

Think about it, if you were selling your home would you like to be on the market for 6 months or more because it was not priced right?  Imagine having to prepare your home for 180 days or more to be shown.  It’s exhausting, plus it usually means you end up selling your home for less in the long run.  Look at the statistics for the home sales below  This is proof of how much a home seller can risk in time and money by overpricing a home.

Closed Sales Of The Week:

$480,000 Tam O’Shanter Golf Course community. A mid-entry home with 4 bedrooms, 2.75 baths with an original list price of $605,000, last list price of $494,950 and sold in 353 days for 19% below the original asking price.

****Tam O’Shanter is a highly sought after community with a variety of homes and price ranges.  Many homes have been remodeled and some face the golf course or have Lake Sammamish and Cascade Mountain views.  The price for this home is an entry level price for the community, which made it a good buy.

$499,900 Mid-entry home south of Microsoft with an original asking price of $509,000, sold in 7 days for 2% below the asking price.

****Well priced home with nice updating, including the systems.  This is a testament to the fact that homes priced right and updated are those that are selling.

$525,000 Charlson Place two story with a basement with 2540 square feet, 3 bedrooms, 2.5 baths.  Original asking price of $649,000, last asking price of $589,000, sold for 20% below the original asking price in 211 days.

****Newer style home that, again, when priced right, received an offer and sold.

$570,000  Grasslawn area tri-level with 2240 square feet and 3 bedrooms, 2.5 baths.  Original asking price of $756,000, last asking price of $579,000, sold for $570,000 in 310 days.

****Beautifully updated with a remodeled kitchen, nice yard, the home needed to be priced competitively to sell.

Get out and enjoy Seafair this weekend.

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Concert Promoters in Redmond Had The Inside Track to Today’s Hot Weather

In Exploring Redmond, Redmond, Things to do in Redmond on July 29, 2009 at 7:58 pm
Chill Zone at Redmond Town Center Concerts

Chill Zone at Redmond Town Center Concerts

The concert promoters for Redmond Town Center’s Summer Concerts must have had the inside track on today’s hot weather.  The Chill Zone sounds like the place to be.

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Redmond’s Spiritbrook Park Makeover-Meeting on July 30, 2009

In Redmond on July 28, 2009 at 9:01 am
Spiritbrook Park

Spiritbrook Park

Redmond’s parks have been a hot topic for me to write about on this blog over the last week.  It’s somewhat fitting, since the weather is so hot and people are out in the parks in droves. Last week was Redmond’s Westside Park, now it’s Spiritbrook Park’s turn for the makeover meeting. The Redmond Capital Improvement Plan, better known as the CIP is calling for a makeover for both parks.  Given the popularity of the Grasslawn Park makeover, it’s a smart thing to do and will make Spiritbrook park that much more desirable.  It’s huge selling point for Spiritbrook homeowners that not only is there a park right in the neighborhood, there’s also the elementary school.


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Check the meeting out at the Old Redmond Schoolhouse from 7-8:30 PM on July 30th, 16600 NE 80th St, Room 104, Redmond, WA.  Conceptual drawings of the proposed changes will be available.  The drawings are also online, so you can check them out there beforehand.

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King County Cracks Down on Parking Fees in Marymoor Park’s Dog Park

In Exploring Redmond, Redmond on July 28, 2009 at 5:50 am
Marymoor Park

Marymoor Park

Marymoor Park, the key place where dogs want to have fun in King County.  The dog park is doggie heaven or a doggie amusement park, according to 2 legged critters interpretation of the fun the 4 legged variety is having at the park

Walking in Marymoor's Dog Park

Walking in Marymoor's Dog Park

The dog park gets a lot of use from dog lovers all over the county.  Now King County is cracking down on parking and fining people who do not pay for parking while at the dog park.

Since 2003, people parking at the park are supposed to pay $1.00.  Recently, King County has been enforcing the parking fee, charging a $35.00 fine if caught not paying the $1.00 fee.  Since the county is in dire financial shape and people and their dogs do benefit from the park, I think it’s a good way to obtain some badly needed revenue.  What do you think?

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The Hot Price Range For Home Sales in Redmond and Bellevue, 7-22-09

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond on July 27, 2009 at 3:29 pm

What was the hot price range of the week in East Bellevue (east of 405)  and West Redmond?

  • Most number of home sales $400-499,999 (same price range as last week)  7 homes sold in the price range.
  • Most number of homes for sale $400-499,999 and $500-599,999, both had 52 homes for sale. There were 71 homes for sale 7 weeks ago in the $400-499,999 price range.  With less homes available between 400-499,000 than just 7 weeks ago, this price range has heated up and it’s moving fast.
  • Best week to sell your home in the last 7 weeks?  Week of June 15th with 24 sales in the area.

This past week there were 276  homes for sale and 22 home sellers accepted offers.

East Bellevue and Redmond Home Sales, 07-22-09

East Bellevue and Redmond Home Sales, 07-22-09

This chart is updated weekly by (Windermere Real Estate/East, Inc.,using MLS data to show the price ranges of the homes sold each week.

Here’s how it’s set up:

The colors show who has the advantage in a particular price range. 

  • Green means the buyer has the advantage with many homes to choose from and not that many selling.
  • Yellow means the number of homes for sale and the number of sales in the price range is balanced between the buyer and the seller.
  • Red indicates a sellers’ market where the seller may have the advantage as more homes are selling when compared to what’s available.

Down the side of the chart, the home sales activity is broken down into a price bracket of $99,999. All the homes priced between $400,000-499,999, as an example, are put together in one price category in the chart.

Across the top, the chart is broken down into real estate activity by the week.

If you take the $400-499,999 line and follow it across the chart, you’ll see what has happened each of the last seven weeks.  There are three columns under each week. On the left side of the column is the number of homes for sale in East Bellevue and Redmond, near Microsoft.  The middle column shows how many homes sold that week, and the final column under the date shows the months supply of homes for sale.  In other words, if no other homes came up for sale, it would take 2.4 months to sell all of the homes in the $400-499,999 price range.

The last section shows the 7 week average of each category, the number of homes for sale, the number sold, and the months supply.

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Weekly Real Estate Buzz in Redmond, Near Microsoft, 7-23-09

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on July 24, 2009 at 1:03 pm


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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 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: 72 (75)

New listings: 5 (6)

Sold Contingent: 1 (0 )

Pending inspection:6 (10)

Pending:  4 (3)

Closed Sales: 5 (0)

Rented: 0 (0)

Price Reductions: 4 (2)

Price Increases:0 (0)

Expired Listings: 1 (2)

Canceled Listings: 2 (0)

Temp Off Market: 1 (1)

Back on Market: 2 (0)

Re-listed: 2 ( 1)

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$0-$349,999: 1 (1)

$350,000-$499,999: 20 (24)

$500,000-$749,999: 34 (33)

$750,000-$999,999: 9 ( 9 )

$1,000,000- $1,499,999: 7 (7)

$1,500,000- $2,999,999: 0 (0)

$3,000,000+ 1 (1)
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Average Asking Price of Homes for Sale: $692,052 ($679,685)

Median Asking Price of Homes for Sale: $586,850 ($580,000)

Average Days on Market: 93 (88)

Highest Priced Listing: $3,400,000 ($3,400,000)

Lowest Priced Listing: $315,000 ($315,000)

New listings: Five new listings came on the market, although we have less for sale the past few weeks than we did about a month ago when over 80 homes were for sale.

Price reductions:Price reductions are leveling off, so the hope is more homes are priced to meet the current real estate market.

Home sales: Six homes received offers, the same as last week,  and are working through inspections.  Four homes had the inspections satisfied and are now pending.  The homes receiving offers were all priced under 700k, with 2 of the homes priced under 400k.  The 400k price range is moving really well these days.  Four of the 6 homes were on the market for less than 50 days.  One home was on the market for over 300 days.

As I mentioned before, there is a healthy turnover of homes for sale.  We see a good number of homes coming on the market each week and a good number receiving offers.  This points to the more balanced market we see between buyers and sellers.  A more balanced market means some homes will sell quickly, if they show well and are priced right.  Other homes will undergo price reductions and a longer marketing time and some homes will not be sold because they are overpriced for the real estate market.  Pricing is still everything in this market.

Closed Sales Of The Week:

$290,000 Sammmamish Forest Manors town home with 1350 square feet, 2 bedrooms/2 baths.  Original asking price of $329,000, last asking price of $299,900, sold in 106 days for 12% less than the original asking price.

****These one level town homes are very popular as there are so few around.  Most town homes have two or more levels.

$440,000  View Ridge neighborhood north of Microsoft (my listing), a 1 1/2 story Cape Cod style home with 2300 square feet, 5 bedrooms, and 2.5 baths.  Original asking price of $459,950, sold for 5% below the original asking price in 41 days.

***** Beautifully updated with a new kitchen and baths, beautiful backyard, and Microsoft was literally down the street.

$595,000 Sheffield Greens rambler with 3 bedrooms, 1.75 baths, 2155 square feet, sold in 37 days with the original asking price of $625,000.  sold for 5% below the original asking price.

****Popular Burnstead neighborhood (great builder), just across from Microsoft’s Redwest campus.

$700,000 Evergreen Lane new two story with 3043 square feet, 4 bedroom/2.5 baths.  Original asking price of $759,950, sold in 55 days for 8% below the asking price.

*****Camwest new construction close to Microsoft’s Redwest Campus. Good builder, rare new construction so close in, next to park.

$1,600,000 Two story with 5 bedrooms/5 baths, 6690 square feet.  Original asking price of $2.6 million. Sold in 425 days for 39% below the original asking price.

*****Fabulous price for a waterfront home on Lake Sammamish with this amount of square footage.

Have a great weekend!

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Open House For Redmond’s Westside Park Makeover Tonight

In Local information, Redmond on July 22, 2009 at 3:53 pm

Redmond’s Westside Park is getting a makeover. Redmond’s CIP, the Capital Improvement Plan includes updating both Westside and Spiritbrook Parks, both in our neck of the woods.  Westside Park is just about 1 1/2 miles down the road from the main Microsoft campus and it’s part of a chain of parks stretching from Bridle Trails State Park to Marymoor Park.  There’s a path in Westside Park that leads right to Marymoor.  Westside is a smaller park, as parks go in Redmond, but it’s an important one to the local community.  The surrounding neighborhoods of View Ridge, The Meadows, Meadowcrest, Bristol, and Tamarack Lane are located just blocks away. It’s an easy park to get to without the hassle of traffic.

I write about these neighborhoods and others in this blog and the park is an integral part of the community.  When the park is updated, it will be a wonderful asset to everyone who lives nearby.

Check the meeting out tonight from 7-8:30 PM in downtown Redmond at the Old Schoolhouse., 16600 NE 80th St, Room 104, Redmond.  Plans will be presented for the Westside Park redo.   There’s extensive information available online about the  discussion at the May introductory meeting.  Redmond citizens had a chance at that meeting to give suggestions for improving the park.  People had a lot to say and the City of Redmond listened.  Drainage issues in the park, play fields, equipment, and doggie clean-up bags were all discussed.

Tonight there’s a second meeting to “unveil” the future plans for Westside Park.  Diagrams showing the proposed changes will be available and are also online. There’s extensive notes available about what was discussed at the May introductory meeting and drawings of the conceptual plans.

Westside Park

Westside Park


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The Hot Price Range For Home Sales in Redmond and Bellevue, 7-15-09

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond on July 21, 2009 at 7:49 am

What was the hot price range of the week in East Bellevue (east of 405)  and West Redmond?

  • Most number of home sales $400-499,999  9 homes sold in the price range.
  • Most number of homes for sale $400-499,999  56 homes for sale.

This past week there were 276  homes for sale and 24 home sellers accepted offers.

East Bellevue & Redmond Real Estate Sales - 07-15-09

East Bellevue & Redmond Real Estate Sales - 07-15-0

This chart is updated weekly by (Windermere Real Estate/East, Inc.,using MLS data to show the price ranges of the homes sold each week.

Here’s how it’s set up:

The colors show who has the advantage in a particular price range. 

  • Green means the buyer has the advantage with many homes to choose from and not that many selling.
  • Yellow means the number of homes for sale and the number of sales in the price range is balanced between the buyer and the seller.
  • Red indicates a sellers’ market where the seller may have the advantage as more homes are selling when compared to what’s available.

Down the side of the chart, the home sales activity is broken down into a price bracket of $99,999. All the homes priced between $400,000-499,999, as an example, are put together in one price category in the chart.

Across the top, the chart is broken down into real estate activity by the week.

If you take the $400-499,999 line and follow it across the chart, you’ll see what has happened each of the last seven weeks.  There are three columns under each week. On the left side of the column is the number of homes for sale in East Bellevue and Redmond, near Microsoft.  The middle column shows how many homes sold that week, and the final column under the date shows the months supply of homes for sale.  In other words, if no other homes came up for sale, it would take 3 months to sell all of the homes in the $400-499,999 price range.

The last section shows the 7 week average of each category, the number of homes for sale, the number sold, and the months supply.

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Weekly Real Estate Buzz in West Redmond, Near Microsoft, 7-16-09

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on July 17, 2009 at 5:58 pm


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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 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: 75 (73)

New listings: 6 (7)

Sold Contingent: 1 (0 )

Pending inspection:6 10)

Pending: 3 (5)

Closed Sales: 0 (6)

Rented: 0 (0)

Price Reductions: 2 (11)

Price Increases:0 (0)

Expired Listings: 2 (2)

Canceled Listings: 0 (0)

Temp Off Market: 0 (1)

Back on Market: 0 (0)

Re-listed: 1 ( 1)

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$0-$349,999: 1 (2)

$350,000-$499,999: 24 (26)

$500,000-$749,999: 33 (34)

$750,000-$999,999: 9 ( 9 )

$1,000,000- $1,499,999: 7 (7)

$1,500,000- $2,999,999: 0 (3)

$3,000,000+ 1 (1)
———————————–
Average Asking Price of Homes for Sale: $679,685 ($679,394)

Median Asking Price of Homes for Sale: $580,000 ($580,000)

Average Days on Market: 88 (90)

Highest Priced Listing: $3,400,000 ($3,400,000)

Lowest Priced Listing: $315,000 ($315,000)

New listings: New listings keep coming up on the market, although we have less for sale the past few weeks than we did about a month ago when over 80 homes were for sale.

Price reductions: There were only a couple of price reductions.  Hopefully, this means sellers are pricing their homes to meet the market.  Over the previous two weeks, 11 homes underwent price reductions.

Home sales: Six homes received offers and are working through inspections and 3 homes had the inspections satisfied and are now pending.   As I mention before, there is a healthy turnover of homes for sale.  We see a good number of homes coming on the market each week and a good number receiving offers.  This points to the more balanced market we see between buyers and sellers.  A more balanced market means some homes will sell quickly if they show well and are priced right.  Other homes will undergo price reductions and a longer marketing time and some homes will not be sold because they are overpriced for the real estate market.

Closed Sales Of The Week

None this week.

Have a great weekend!

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What Were The Chances of Selling Your Redmond Home in June, 2009?

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on July 16, 2009 at 5:07 pm

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

(the numbers for the chart 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. The other charts also show the 5 year trend in real estate.)

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.


June, 2009             291  homes for sale     68 homes sold          23% chance of selling.


May, 2009               289 homes for sale     57 (64) homes sold   20% (23%) chance of selling.


June, 2008             325 homes for sale,     55 homes sold,         17% chance of selling.

Real estate sales in Redmond continues to improve from the first of the year. Twenty-three out of 100 homes received offers in May, but then some of those sales did not stay together.  When June began, the numbers showed 64 homes had sold, but  now we see that only 57 of these sales stayed together. Trendgraphix’s adjusts their numbers as the failed sales are reported.   So the reality is 20% of the homes for sale in May sold, not 23%.

I’m going to do a little digging to see if there are trends as to why some sales are falling apart.  I have my suspicions about why, so if I find out enough good information I’ll write a post about it on my eastside blog.

What’s happening with real estate prices in Redmond?

The median sales price decreased to $499,950 from $549,500 a decrease of 9%.

For the full picture of June’s real estate activity for the Seattle eastside, check out my eastside blog.

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