Debra Sinick

Posts Tagged ‘Redmond Washington’

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How Many Bellevue and Redmond Real Estate Sales Were Near Microsoft in January, 2012?

In Bellevue real estate, For Buyers, For Sellers, Market Statistics, Microsoft, Real Estate news, Redmond on February 17, 2012 at 12:39 pm
Home Sales Near Microsoft in Redmond and Bellevue

Bellevue and Redmond Real Estate Sales for Homes Near Microsoft, January, 2012

January was another good month for Bellevue and Redmond real estate near Microsoft.   Although, surprising, December, 2011 had more home sales.   There was the same amount of homes for sale in both December and January, but more homes actually sold in December!  Usually more homes sell the first of the new year rather than the end of the year and during the holidays, but not this year.

Twenty-six percent of the available homes sold** last in January and on average took 94 days to sell.

Median pricing jumped up from $380,000 to $460,000.   The number is based on the sales that happened during a particular month.  It’s more realistic to look at all the ups and downs over the year to see whether prices have really increased or not.  Prices over the past year have begun to stabilize, which is very good news.

We expect this year to be a strong year for real estate in the shadow of Microsoft.  Because there are so few homes on the market, the good homes that are priced well should sell quickly. Plus, the economy is on a slight upswing.  Buyers are not as nervous about making a home purchase.

If you’d like more information about your home’s value or how the market is doing in your neighborhood, please contact either Brooks, my business partner or me.

Have a great 2012.

By the way, where are Bellevue and Redmond, WA?


View Larger Map

*(The data does not cover the entire cities of Redmond or Bellevue, but just the areas east of downtown Bellevue and highway 405 and near Microsoft in Redmond.)

**The absorption rate is the number of homes for sale divided by those that actually sold.

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How Was The Real Estate Market in Bellevue and Redmond Near Microsoft in December 2011?

In Market Statistics, Real Estate news, For Buyers, For Sellers, Redmond, Microsoft, Bellevue real estate on January 20, 2012 at 3:23 pm
Real Estate Activity Near Microsoft

Real Estate Sales in Redmond and Bellevue near Microsoft Through Dec. 2011

Closeup of a stone sign bearing the Microsoft ...

Image via Wikipedia

It’s hard to believe that in December so few homes were on the market in the Redmond and Bellevue neighborhoods surrounding Microsoft.   Only 125 homes were for sale near Microsoft.

These neighborhoods continue to out perform the rest of Redmond and Bellevue,* and the other eastside cities such as Sammamish, Issaquah, and Kirkland.  This doesn’t mean more homes sell in this area, but the percentage of homes that sell, the absorption rate, is almost always the highest on Seattle’s eastside.**  Thirty-six percent of the available homes sold last month and on average took 104 days to sell.

Why is there a higher percentage of homes selling in this area than other areas on the eastside?  Because of it’s close proximity to jobs, not just at Microsoft, but in Bellevue, Redmond, Kirkland, and Seattle.  Housing is more reasonably priced with the opportunity to find homes in a variety of price ranges.  The schools are good, the commute is great, and the access to parks and shopping is fairly easy.

Median pricing jumped up from $438,000 to $455,000.  But don’t get too excited as median pricing was down in November, from $527,000 to $418,000.

Does this mean median prices are on a roller coaster?  Not really, because the number is based on the sales that happened during a particular month.  It’s more realistic to look at all the ups and downs over the year to see whether prices have really increased or not.  Prices the past year began to stabilize, which is very good news.

A look back at 2011 real estate near Microsoft:

  • The highest number of homes for sale was in August with 210 homes.
  • The lowest number of homes for sale was 125 homes in December.
  • The number of homes for sale each month was between 160-200 homes, with the exception of December.
  • July- most homes sold (pending), 69.
  • January-least number sold (pending), 41
  • Between 40-70 homes sold (pending) each month.
  • Best absorption rate:  July with 37%**
  • Median prices remained stable at about $400,000 for the year.

If you’re thinking of selling, it usually is best to get on the market before the number of homes jump too high and competition is stiffer.  It’s usually easiest to sell your home when fewer homes are on the market.  So please look at the numbers above and think about moving sooner in the year.

If you’d like more specific information about your home and where it should be positioned to sell, don’t hesitate to contact Brooks Beaupain, my business partner, or me.

By the way, where are Bellevue and Redmond, WA?


View Larger Map

*(The data does not cover the entire cities of Redmond or Bellevue, but just the areas east of downtown Bellevue and highway 405 and near Microsoft in Redmond.)

**The absorption rate is the number of homes for sale divided by those that actually sold.

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How Was The November Real Estate Market In Bellevue and Redmond Near Microsoft?

In Bellevue real estate, For Buyers, For Sellers, Market Statistics, Microsoft, Real Estate news, Redmond on December 15, 2011 at 2:13 pm

Bellevue and Redmond Real Estate Sales for Homes Near Microsoft, November, 2011

Closeup of a stone sign bearing the Microsoft ...

Image via Wikipedia

It’s important to look more locally at the real estate market to get a more accurate picture of what’s truly happening.   This post looks at the sales activity in the Bellevue and Redmond neighborhoods around Microsoft.*

Twenty-nine percent of the available homes in this area sold last month and homes took 60 days to sell.  One of the  best absorption rates** and the shortest market time on all of the eastside!

Median pricing was down this past month, from $527,000 to $418,000.  These numbers are based on the sales that happened during November and is a function of what sold that particular month.  We’ll need to follow the next several months to see if prices in the area are increasing or decreasing.

With fewer homes on the market, more affordable prices, and low interest rates, we have a more positive and realistic look for the real estate market.

If you’d like more specific information about your home and where it should be positioned to sell, don’t hesitate to contact Brooks Beaupain, my business partner, or me.

By the way, where are Bellevue and Redmond, WA?


View Larger Map

*(The data does not cover the entire cities of Redmond or Bellevue, but just the areas east of downtown Bellevue and highway 405 and near Microsoft in Redmond.)

**The absorption rate is the number of homes for sale divided by those that actually sold.

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How Strong Were Real Estate Sales in Redmond and Bellevue Near Microsoft in September, 2011?

In Bellevue real estate, For Buyers, For Sellers, Market Statistics, Microsoft, Real Estate news, Redmond on October 11, 2011 at 3:57 pm
Real Estate Sales Near Microsoft

Redmond and Bellevue Real Estate Sales for Homes Near Microsoft, September, 2011

Closeup of a stone sign bearing the Microsoft ...

Image via Wikipedia

September real estate sales for homes in Bellevue and Redmond were still very strong with the area beating out all the eastside cities and neighborhoods with the fastest market time.  In September, the average market time was 69 days.  Of the 204 homes on the market, 51 or 25% had accepted offers.  The 25% sales rate represents one of the strongest performing areas on the eastside.   Homes sold within 95% of the original asking price.

Median sales price increased to $503,000, the first time median pricing was up over $500,000 for the year.  Before September, the median pricing had bounced between $380,000-$488,000.  Remember though,  the median pricing for each month is only a reflection of what has sold that particular month.  It’s important to look at at least 6 months worth of sales to determine a more accurate median price point for an area.

If you’d like more specific information about your home and where it should be positioned to sell, don’t hesitate to contact Brooks Beaupain, my business partner, or me.

By the way, where are Bellevue and Redmond, WA?


View Larger Map

*(The data does not cover the entire cities of Redmond or Bellevue, but just the areas east of downtown Bellevue and highway 405 and near Microsoft in Redmond.)

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Weekly Real Estate Buzz in West Redmond, Near Microsoft, Through April 9th, 2009

In For Buyers, For Sellers, Real Estate news, Redmond, Weekly real estate updates on April 10, 2009 at 2:47 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: 64 (65)

New listings: 1 (5)

Sold Contingent: 0 (0 )

Pending inspection: 1 (2)

Pending: 2 (2)

Closed Sales: 1 (0)

Rented: 0 (0)

Price Reductions: 3 (3)

Price Increases:0 (1)

Expired Listings: 1 (3)

Canceled Listings: 1 (1)

Temp Off Market: 0 (0)

Back on Market: 0 (0)

Relisted: 1 ( 1)

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

$350,000-$499,999:18 (20)

$500,000-$749,999: 20 (19)

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

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

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

$3,000,000+ 0 (1)
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Average Asking Price of Homes for Sale: $730,296 (736,556)

Median Asking Price of Homes for Sale:  $584,250 ($579,500)

Average Days on Market:92 (89)

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

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

The real estate activity in Redmond, near Microsoft, is fairly constant with the number of homes for sale remaining almost the same the last few weeks.  Sales seem to be slow, but progressing.  Last week, it appeared Seattle real estate activity was picking up.  More buyers are out looking and making offers on the eastside.  In Redmond, the offers will come, but the prices will remain the same or lower.  Buyers will still be negotiating.

In the last week, my team and I sold two homes in another eastside neighborhood. One home had multiple offers.  This means there were two buyers who were interested in the same house at the same time.  Both buyers made offers and this house still did not sell for full price.  In the “old” real estate days, the offers would be over full price.  In today’s real estate market, buyers are cautious about over spending.  They are watching prices decline, so they are negotiating when making an offer.

March, 2009 real estate statistics will be posted shortly.  Have a great holiday weekend.




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Earth Day is coming to Redmond on April 11th

In Exploring Redmond, Local information, Redmond, Things to do in Redmond on April 9, 2009 at 2:07 pm

Earth Day is coming early to Redmond this year.    This year’s Earth Day project is along the Sammamish River Trail by the Leary Way bridge. Native trees and shrubs are being planted near the river.   Tools will be provided, but come prepared rain or shine.

On another “green” note, kudos to Redmond for its selection as a “Tree City USA.” This is Redmond’s tenth year to be selected by The National Arbor Day Foundation.

treesbest

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Did Redmond, Washington Have A Link to the Civil War?

In Local information, Redmond, Redmond Washington history, Things to do in Redmond, Uncategorized on January 5, 2009 at 6:02 pm
Justice White House (taken by D. Sinick)

Justice White House (taken by D. Sinick)

Find out on January 10th. The following is from the Redmond Historical Society’s latest newsletter:

“The Civil War ~ in Washington

That’s the topic of our January talk by noted historian, Dr. Lorraine
McConaghy.
“In 2011, we will mark the first year of the sesquicentennial of the
Civil War, a war fought over principle that claimed nearly 600,000
American lives,” says McConaghy, who works for Seattle’s Museum
of History & Industry. “We associate the war with battlefields in the
southeast, but the Civil War was a national
war, that involved its citizens on the
Pacific Coast.
“This presentation will explore
some of the ways in which settlers
in Washington Territory became
involved in the politics and violence
of the war,” she adds. “Settlers did
not leave the war behind them, but
brought the war with them.”
Join us on January 10 for histories and
images from our ties to the war.

SATURDAY, JANUARY 10
10:30 A.M. TO 12:00 NOON
at the
OLD REDMOND
SCHOOLHOUSE
16600 NE 80th Street”

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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.

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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)
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$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)
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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.


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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.

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