West Redmond Real Estate Buzz

It’s almost ready.  I stopped by Grasslawn Park in Redmond, Washington the other day and it’s looking pretty great.  The new basketball court is ready and the park is almost done, just in time for summer.

This just in from Timothy Cox of the City of Redmond:

 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 Fridays from NWMLS information. This real estate activity report will be online no later than Sunday each week. 

 
Active Listings:  54(57) 

New listings:   3(6) with two homes re-listed

Sold subject to inspection: 4(0)

Pending:  3(3)

Closed Sales:  2(5)

Sold Contingent: 0(0)

Rented: 0(0) 

Price Reductions:  5(4)

Price Increases:     0(0)

Expired Listings: 1(0)

Cancelled Listings: 1(0)

Temp Off Market:  0(0)

Back on Market: 0(0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  4(7)

$500,000-$749,999:   28(26 )

$750,000-$999,999: 10(12)

 $1,000,000- $1,499,999: 9(9)

$1,500,000- $2,999,999: 3(3)
———————————–
Average Price:    $857,604($847,799)

Median Price: $697,000($696,000)

Average Days on Market: 68(62)

Highest Priced Listing: $2,880,000 ($2,880,000)

Lowest Priced Listing: $435,000($435,000)

My analysis of this week’s buzz: 

Inventory has dropped slightly this week, with three less homes on the market in the area compared to last week.  There are 3 new listings and four homes received offers this week. Three homes have had the inspection satisfied and are now pending.  Closed sale prices ranged from 8%-13%  below the original asking price.  Several of the homes receiving offers this week sold quickly, in less than two weeks.  It will be interesting to see the sales prices of these homes when the sales close. 

New listings: 

$645,000 Trilevel on Lake Samm Parkway with 2020 sq ft, 3 bedrooms, 2.5 baths.

$764,950 New construction Camwest on Evergreen Lane, 3149 sq ft, 4 bedrooms, 2.5 baths.

$809,950 New construction Camwest on Evergreen Lane, 3136 sq ft, 4 bedrooms, 2.5 baths.

Homes receiving offers this week:

$450,000 Meadows town home with 3+ bedrooms, 2.5 baths, 1700+ sq ft.

$475,000 Kirk Estates Burnstead rambler with 3 bedrooms, 1.75 baths, 1600+sq ft.

$599,950 Knollwood Mid-entry 3 bedrooms, 2.75 baths, 2660 sq ft.

$849,950 11 year old two story home with 3030 sq. ft, 4 bedrooms, 2.75 baths.

Pending sales this week: 

(inspection has been satisfied)

$656,000 3 bedroom, 1.5 bath, 18000 sq ft lot, value is in the land.

$752,950 New construction, Evergreen Lane with 3051 sq. ft, 4 bedrooms, 2.5 baths.

$1,395,000 Lake Samm waterfront with 19000 sq ft lot, and 3 bedroom home.

Sold contingent:

(home has received an offer, but buyer has to sell current home to make the sale)

None this week

Expired listings:

(Homes in which the listing contract has expired)

$809,000 Lake Samm Parkway two story , 2580 sq. ft, 3 bedrooms, 2.5 baths,

Cancelled listings:

(Homes taken off the market)

$435,000 Walnut Hills town home with 2 bedrooms, 2 baths.

Temporarily off the market:

None this week.

Price reductions:

  $577,000 down from original price of $620,000, 4 bedroom, 2.5 bath two story.

$619,000 down from $639,000 two story 2150 sq ft. 3 bedrooms, 2.5 baths.

$719,000 down from $765,000 Ardmore Village two story 2780 sq ft, 4 bedrooms, 3 baths.

$1,1245.000 down from $1,325,000  newer two story, 3730 sq ft, 4 bedroom, 2.75 baths.

$2,299,000 down from $2,600,000 waterfront 6690 sq ft, 5 bedrooms, 5.5 baths. 

Closed sales:

(Homes in which the new owner has moved in!)

$395,000 was $399,000, original price of $449,950 Strattonwood rambler.   Sold for 13% less than the original asking price in 192 days.

$590,010 down from $625,000.  Tam O’Shanter mid-entry with original price of $640,000, sold for 8% below the original asking price.

Back on the market:

None this week.

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 Fridays from NWMLS information. This real estate activity report will be online no later than Sunday each week. 

 
Active Listings:  53(45) 

New listings:   5(3) 

Sold subject to inspection: 1(6)

Pending:  5(2)

Closed Sales:  2(3)

Sold Contingent: 1(0)

Rented: 0(0) 

Price Reductions:  4(2)

Price Increases:     0(0)

Expired Listings: 0(2)

Cancelled Listings: 0(0)

Temp Off Market:  0(0)

Back on Market: 2(6)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  5(4)

$500,000-$749,999:   22(1

$750,000-$999,999: 10(8)

 $1,000,000- $1,499,999: 13(13)

$1,500,000- $2,999,999: 3(2)
———————————–
Average Price:    $913,555($939,850)

Median Price: $740,000($750,000)

Average Days on Market: 74(84)

Highest Priced Listing: $2,880,000 ($2,880,000)

Lowest Priced Listing: $435,000($435,000)

My analysis of this week’s buzz: 

A total of 53 homes are on the market this week.  This a 20% increase over the number of homes for sale last week.  There are 5 new listings, 5 homes received offers,  4 price reductions, and 2 closed sales.

The number of homes for sale took a jump up this week.  We aren’t at the peak number of homes for sale, but we are inching up to that range.  Last October there were weeks with 57 homes on the market, and lately, we’ve been averaging about 45 homes for sale per week.  This week brings the total back up to higher numbers of homes for sale. Five homes are now pending, which means the inspection period is over and the sale is heading towards closing.

New listings: 

$529,500  Single family in the Meadows with 3 bedrooms and 2.5 baths.

$649,900  Hampton Place tri-level wtih 4/5 bedrooms, 2.5 baths  (my listing)

$696,000 Spiritbrook mid-entry remodeled with bamboo floors,new kitchen and baths.

$974,950 on Lake Samm Pkwy, remodeled 4 bedroom, 4 bath two story.

$1,500,000 large two story home on NE 51st  with 4000+ square feet, 4 bedrooms, 4.5 baths

Homes receiving offers this week:

$649,500 Country Creek tri-level with 3 bedrooms, 2.5 baths, and a view.

Pending sales this week: 

(inspection has been satisfied)

$399,950 Strattonwood rambler with 3 bedrooms, 1400 square feet.

$525,000 Gleneden rambler with 2020 square feet.

$589,950 Spiritbrook tri-level with 4 bedrooms, 2.5 baths. (My listing)

$625,000 Tam O’Shanter mid-entry with remodeled kitchen and master bath.

$748,000  Gleneden two story with a golf course  view. amd 3120 square feet.

Sold contingent:

(home has received an offer, but buyer has to sell current home to make the sale)

None this week

Expired listings:

(Homes in which the listing contract has expired)

none this week

Cancelled listings:

(Homes taken off the market)

None this week.

Temporarily off the market:

None this week.

Price reductions:

$588,000 Grasslawn two story with 4 bedrooms and 2.5 baths, 2360 square feet.

$630,000 Gleneden two story with 4 bedrooms and 2.5 baths, 2600+ square feet.

$739,950 Manchester Estates two story with 2853 square feet, 4 bedrooms, 2.5 baths.

$799,500 Lake Samm Pkwy mid-entry 4 bedroom, 2.75 baths, lake view.

Closed sales:

(Homes in which the new owner has moved in!)

$445,000 Meadows town home with 3 bedrooms, 2.5 baths.  Original asking price of $465,000. Sold for 5% below asking price in 16 days.

$557,800 Mid-entry in Meadowcrest.  Original asking price of 622,000,  Sold for 9% below the original asking price in 196 days.

Back on the market:

$435,000 Walnut Hills town home which had just sold.

$1,139,000 Prescott two story with 4000+ square feet.

As I was driving down 156th Ave NE, I noticed big changes going on alongside 156th Ave, south of NE 40th.  After checking with the city, I found out the sidewalk was being torn up and a second turn lane heading south was being added from 156th to the Microsoft campus.

 As many of you who either commute to Microsoft or drive down 156th in the morning to other places of work, this will be a much needed improvement to the traffic flow in the area.  Driving in the area around 9:30 AM can only get better.

 Thanks, Microsoft!

Welcome to West Redmond Real Estate Buzz on WordPress. I’ve moved my blog from blogger. Over the next few days, I will add in  links that will be helpful to you and organize the previous posts into separate tag headings so you can navigate past posts more easily by topic.

I have some clients right now that have a need that is hard to fill on the Eastside. I’m looking for a home for them which would accommodate 2 adults with 3 young children, plus grandma. Their hope is to find a home with 4 bedrooms for themselves with a separate 2 bedroom mother -in- law suite.

This is very difficult to find on the Eastside. But it should not be. With our aging population and a desire for many to maintain independence with some family ties, it’s a style of living that will become more and more important in the future. So many boomers are taking care of aging parents or having to change their living arrangements to include parents. Our homes need to offer options to accommodate these different generational and family needs.

If you check on this link below, you will find that many architects see the multigenerational style of living as an important change for the future. The demand will be for housing with multiple master suites and more flexible floor plans.

I have been involved with these issues myself over the last couple of years, both personally and professionally. There is a whole host of information which speaks to some of the above issues. As time goes on, I will comment on some of these issues in this blog. My goal is to keep you informed with some of the changes and trends we may see in housing in the future.

http://seattletimes.nwsource.com/html/realestate/2003684239_generations29.html

Gorgeous stuff! Dream a little with these choices:

Outdoor TV’s to watch all your favorite things

Outdoor kitchens

Meditation spaces

Privacy benches

Perennial borders

Outdoor showers (this one could be interesting in the Northwest!)

http://www.realtor.org/rmo/landscape_slideshow/landscape_slideshow_may07.html

If you were a buyer……

….which yard would you rather have?

The pink flowers of the plum trees are already gone. Some tulips are still here. The rhodies are about to pop. Don’t miss out on the rest of the spring flowers. Take photos of your yard and garden as the season progresses. These great photos can be used whenever you sell your home, even if it is during our darkest and dreariest months.

Buyers will be buying a home and a lifestyle, not just a house. You should use the best photos of your home when selling and include great spring photos. Emotional selling, marketing the benefits and beauty of your home, is so important. With great spring photos you can let potential buyers know how great your home looks, even if you decide to sell in November!

The chances of selling a home in West Redmond in March of 2007? 58% of the homes listed received offers and went pending!

West Redmond/East Bellevue, you are smoking! You beat out all the other Eastside areas for having the most number of homes sell as compared to the inventory. Fifty-eight percent of the homes for sale received offers. This area has had some of the lowest amount of homes available for sale anywhere. No wonder there’s been a lot of multiple offers. There were 119 homes offered for sale, up from 96 in February of 2006 and up from the 98 homes available this February. Homes receiving offers this month jumped up from 57 homes in February to 70 homes sold in March. Even though last year 80% of the homes sold during the month, still some pretty incredible numbers this year!

What does this mean for sellers? Now is a great time to sell your home. If your home stands out, you can often sell for more money and with multiple offers. If a home is on the open market and exposed to all buyers, a seller’s chances of receiving multiple offers and the top price will be increased dramatically. The homes with the multiple offers are staged, professionally photographed, and priced competitively. A knowledgeable Realtor will know the nuances of the neighborhood and each of the available homes to put you in the best pricing position. A strong Realtor will be your advocate, negotiate these offers, and help you make the most money.

Please look at my post on http://www.eastsiderealestatebuzz.com to find out about other areas of the Eastside. You will see that none of the other areas come close to Redmond in the number of sales to listings.

For this month’s latest statistics, please check the link below to my website,
http://debrasinick.com/docs/2007_Year_to_Date.pdf