Archive for June, 2008
June 30, 2008
Recent posts on Redfin Seattle:
If you missed the Seattle Red Carpet Event you missed a good time and some really interesting morsels shared in the home buyer’s class - fortunately for you, the slides are posted.
Redfin mined some data on what homes are actually selling for vs. the price they were listed at. In general you can expect a couple percentage points of advantage on price if you’re buyer unless you’re shopping in Snoqualmie. Surprisingly, houses and condos in Snoqualmie are selling *above* asking price. Snoqualmie is best known for its Falls that plunge down into the Snoqualmie River (unlike it’s home prices that are soaring over asking). If homes are selling over asking price that usually indicates there are multiple offers. Any comments or anecdotal stories from buyers or sellers in that part of the County?
King County Houses Sale-to-List Prices, April 1 - June 23 2008
| City |
# Deals |
Final v. List |
Average Price |
| Auburn |
131 |
98.6% |
$338,870 |
| Bellevue |
198 |
97.4% |
$821,883 |
| Bothell |
66 |
98.5% |
$442,362 |
| Burien |
43 |
98.1% |
$347,888 |
| Des Moines |
55 |
97.7% |
$299,295 |
| Duvall |
30 |
96.9% |
$496,607 |
| Federal Way |
111 |
98.5% |
$328,122 |
| Issaquah |
123 |
97.3% |
$646,272 |
| Kenmore |
39 |
97.5% |
$506,493 |
| Kent |
196 |
98.9% |
$360,366 |
| Kirkland |
135 |
97.3% |
$787,105 |
| Lake Forest Park |
20 |
98.9% |
$461,073 |
| Maple Valley |
118 |
98.8% |
$411,227 |
| Mercer Island |
56 |
96.5% |
$1,441,888 |
| Newcastle |
34 |
97.6% |
$858,459 |
| Normandy Park |
13 |
95.4% |
$577,150 |
| North Bend |
26 |
97.5% |
$431,987 |
| Redmond |
192 |
97.6% |
$672,922 |
| Renton |
278 |
98.2% |
$415,984 |
| Sammamish |
144 |
97.4% |
$696,178 |
| SeaTac |
38 |
98.3% |
$302,714 |
| Seattle |
1442 |
98.4% |
$553,891 |
| Shoreline |
105 |
98.3% |
$418,262 |
| Snoqualmie |
79 |
100.2% |
$530,302 |
| Tukwilla |
23 |
98.5% |
$329,918 |
| Woodinville |
51 |
98.1% |
$727,207 |
King County Condos Sale-to-List Prices, April 1 - June 23 2008
| City |
# Deals |
Final v. List |
Average Price |
| Auburn |
35 |
98.2% |
$214,646 |
| Bellevue |
109 |
97.6% |
$373,350 |
| Bothell |
32 |
98.5% |
$259,634 |
| Burien |
17 |
99.1% |
$196,747 |
| Des Moines |
15 |
98.4% |
$257,233 |
| Duvall |
2 |
98.2% |
$234,757 |
| Federal Way |
34 |
99.0% |
$174,542 |
| Issaquah |
101 |
98.5% |
$312,222 |
| Kenmore |
8 |
99.7% |
$250,148 |
| Kent |
61 |
98.5% |
$230,368 |
| Kirkland |
101 |
96.9% |
$404,509 |
| Mercer Island |
5 |
95.1% |
$472,000 |
| Newcastle |
7 |
98.9% |
$313,836 |
| Redmond |
68 |
98.1% |
$333,342 |
| Renton |
58 |
97.7% |
$236,964 |
| Sammamish |
9 |
98.3% |
$291,033 |
| SeaTac |
9 |
96.6% |
$219,470 |
| Seattle |
538 |
98.2% |
$399,317 |
| Shoreline |
25 |
98.1% |
$249,899 |
| Snoqualmie |
15 |
102.0% |
$210,398 |
| Tukwilla |
9 |
99.2% |
$176,242 |
| Woodinville |
7 |
99.6% |
$295,932 |
June 30, 2008
Finally, summer has arrived in Puget Sound; and with it, frenetic construction. New mid-rise, mixed-use buildings dot the border-lands between Capitol Hill, First Hill and the Central District.
Madison is an especially busy street, with always-moving orange construction cones marching east to west and back. Starting just over the highway, you can see the steel bones of a soon-to-be high-rise. A bit further up Madison at 12th, the Trace is move-in ready. Two blocks more, and another new building nears completion, replacing the old piano bar at Madison and 15th. Continue over the crest of the hill to 23rd Ave, and there’s a pile of rubble where Deano’s recently existed.
Not to mention the half-dozen other brand new buildings within a couple blocks of Madison. Hard-hats are everywhere. Sorta hard to believe the construction industry is faltering, eh?
Even our valiant Seattle City Light folks are working extra hard. I snapped this pic of linemen connecting a new building to the city’s grid. And on a Sunday no less!
In just a few months, Madison promises to emerge as one of the newest, densest, most urbane parts of the city. Until then though, it’s gonna be noisy and congested.
While I can’t predict when the economy will recover or gas prices will retreat, I can offer one tidbit of advice: avoid driving on Madison until late October. (Instead, try Pike, Pine or Union. They’re much more traffic-friendly this summer.)
June 30, 2008
It’s happening. The Eastside is changing. Factoria is coming to life. On a recent trip to the running track at Newport High School, I stumbled upon proposed land action signs posted around the current (and rather dumpy) Factoria Mall. Rumors have circulated for more than a year that the mall would get an extreme makeover, which would include U-Village-like outdoor shopping, upscale restaurants and modern condominiums.
Now with official City of Bellevue signs posted, architects assigned to Factoria mall, Kimco Redevelopment Group, are moving forward with the redesign to create Marketplace at Factoria. Target is re-situating. Grazie Ristorante Italiano closed its doors on June 29 to make way for Target. Torero’s is upgrading locations and moving into the old Billy McHale’s building.
This is a hallelujah for homeowners in the area. It’s also a sign of relief for the company remodeling the apartments just across the street. One week ago, they were advertising the sale price of the “luxury apartment homes” in the mid $200’s. Now with the mall’s projected completion sometime in 2009, the developers have decided to lease the apartments. SMART MOVE! They will be able to capitalize on the inflated rental market and then sell the apartments for probably much more than originally projected.
Nearly 30 homes within one mile of Factoria mall are currently listed for sale on Redfin. Half of those homes have been on the market for more than 45 days. If possible, it might be a good idea for them to hold on the property for at least another eight months to allow the public more time to understand the value of Factoria homes. If the graph below is an accurate representation of the area, Kimco isn’t going to let this cash cow fail.
Here’s a look at the Marketplace at Factoria project demographics.
Project Demographics
| |
1 Mile |
3 Miles |
5 Miles |
| Total Population |
9,661 |
84,988 |
180,846 |
| Total Households |
4,127 |
34,603 |
73,546 |
| Average Household Income |
$95,331 |
$109,254 |
$110,702 |
| Median Household Income |
$76,838 |
$83,317 |
$84,992 |
Graph provided by Kimco Redevelopment Group
June 30, 2008
Is it here? Is summer finally here?
After a weekend of hot hot hot, I’m hoping that we’ve launched at last into the undeniably gorgeous Washington sun-days. One of my favorite Seattle summer hotspots: Madrona Park and Beach, located on the shores of our own temperate Lake Washington. It’s got that swimmin’ hole feel, only a little more urban (lifeguards and a view of the Eastside = citified summer stop). From the hilltop Madrona neighborhood, the park is an easy downhill walk through one of the city’s stair-and-trail systems — start at the stairs on 35th & Marion, then follow the signs. Alternatively, grab $1.50 ($1.75 during peak hours) and hop on a westbound Metro route #2, which takes you straight there.
Madrona boasts its share of spendy properties; a million (or two) will snag you stellar views of the Lake, the Mountain, the Cascade range. But there are mid-priced plots to be had: here’s a 3 bd/1 bath, 1,260-sq.-ft. home that sold for $600K at the end of May; and another 3 bd/1.5 bath, 1,490-square place that closed for $590K one month prior.
If you’re looking for views, loads of space, and some delicious architecture (both old and new), here are a few brand new Madrona listings to wet your whistle, all less than a mile from Mad Park and Beach:
1615 35th Ave.
Price: $1,750,000
Specs: 4 bd/3 bath
Size: 4,200 square feet
1508 40th Ave.
Price: $1,260,000
Specs: 4 bd/2.5 bath
Size: Unlisted
1525 37th Ave.
Price: $1,995,000
Specs: 4 bd/4 bath
Size: 3,040
June 28, 2008
The 4th of July is headed our way, and the local celebrations planned are a-plenty! You can see public fireworks displays at:
Or, if you live in unincorporated King County, you also have the option of celebrating at home and tormenting your neighbors. King County regulates:
- Fireworks may be discharged only on July 4 from 9 a.m. to midnight.
- Fireworks sales are legal beginning at noon on June 28 until 11 p.m. and then daily between the hours of 9 a.m. and 11 p.m. through July 4. No sales can occur after July 4.
- To purchase fireworks you must be at least 16 years of age with picture identification.
Specific discharge regulations by area are:
Auburn - 4th of July only
Bellevue - Banned
Black Diamond - 4th of July only
Bothell - 4th of July only
Burien - Banned
Carnation - Banned
Clyde Hill - Banned
Covington - 4th of July only
Des Moines - Banned
Duvall - 4th of July only
Enumclaw - 4th of July only
Federal Way - Banned
Hunts Point - Banned
Issaquah - Banned
Kenmore - Banned
Kent - 4th of July only
Kirkland - Banned
Lake Forest Park - Banned
Maple Valley - 4th of July only
Medina - Banned
Mercer Island - 4th of July only
Newcastle - 4th of July only
Normandy Park - June 28 to July 4
North Bend - 4th of July only
Pacific - 4th of July only
Redmond - Banned
Renton - Banned
Sammamish - Banned
SeaTac - Banned
Seattle - Banned
Shoreline - Banned
Skykomish - 4th of July only
Snoqualmie - 4th of July only
Tukwila - Banned
Woodinville - Banned
Yarrow Point - Banned
However you decide to celebrate, plan to play it safe this 4th of July!
June 27, 2008
What person living in the Northwest hasn’t at some moment purchased or at least sat awe-struck at a cheesy panoramic picture of Seattle’s skyline? We live in an area full of parks, snow-capped mountains peaks, luxurious wetlands, vast lakes and magical bays. Some homes—the lucky ones—take full advantage of all the beauty our city offers. From Mercer Island to Newcastle, five new homes listed this week exemplify Eastside living at its best. Many beauties are obvious—who wouldn’t be interested in a mansion on Lake Washington—but in some cases, it doesn’t take a helicopter pad or a million dollar price tag to put a home on our glory list.
5) 15323 SE 82nd St, Newcastle
$1.365 million
4 bedroom, 3.5 bathroom
Newcastle is underrated. Some people associate it with Renton and many only have one thing on their mind… golfing. It’s much more. It happens to be home to the number five house on our fabulous list. Built four years ago, this modern craftsman has every feature needed to make a family never want to leave the house. A top floor media room with wet bar and deck, lush gardens and ok, it’s only minutes away from golfing.
4) 5695 193rd Pl SE, Issaquah
$897,750
4 bedroom, 2.5 bathroom
Rugged and luxurious describe this home situated smack-dab on Cougar Mountain. The key selling point is the outdoor living area. It’s like going camping in your backyard. The master bathroom is the selling point runner up.
3) 4160 Crestwood Pl, Mercer Island
$1.75 million
3 bedroom, 3 bathroom
From the outside, it looks like your typical nice home on the island. What puts this home on our fabulous list is the view available from almost any angle of the upscale modern home. From the kitchen and master bedroom to the wrap-around deck, it’s as if you are the king of the mountain… or island. No one can touch you.
2) 15027 SE 80th St, Newcastle
$2.99 million
6 bedroom, 6.5 bathroom
The unique, elliptical gothic architecture of this new construction home launched it to the top of our fabulous list. With the relaxed atmosphere that comes with a golf course resort community, the home offers 22 feet ceilings, a sauna and a master bathroom that makes me want to Google “how to make your tiny bathroom look like a million bucks.”
1) 2205 60th Ave SE, Mercer Island
$8.9 million
5 bedroom, 9 bathroom… and 7 fireplaces
With nine bathrooms, I hope the future owner has some cleaning help. Cleaning nine bathrooms would be hell for me. Anyway, there’s not much this home doesn’t have including Lake Washington in the backyard, private dock(s), five-car garage (does it come with a Lamborghini?), and apparently the “most opulent master closets in our market.”
June 27, 2008
If you’re looking to tour homes this weekend, check out these Capitol Hill homes. Be aware though: it’s Pride Weekend, so the Hill will be a bit more colorful than most other weekends.
325 Harvard Ave Seattle, WA 98102 Price: $340,000
Unit 102
Unit 200
Unit 203
Unit 503
Saturday, June 28, 2008 12:00 PM - 6:00 PM
1730 23rd Ave Seattle, WA 98122 Price: $489,000
Saturday, June 28, 2008 1:00 PM - 4:00 PM
1810 E Republican St #4 Seattle, WA 98112 Price: $359,000
Saturday, June 28, 2008 1:00 PM - 4:00 PM
2350 10th Ave E #220 Seattle, WA 98102 Price: $249,
Saturday, June 28, 2008 8:00 AM - 9:00 PM
Sunday, June 29, 2008 8:00 AM - 9:00 PM
June 27, 2008
The weather is supposed to be sunny and warm this weekend, and there are some great open houses in West Seattle this weekend, especially in the northern part. Get out of the house and have a look:
4423 SW Seattle St (3 bed, 1 bath, 2,370 sf, $574K) Sun, 1-4
1608 44th Ave SW (3 bed, 2 bath, 1,640 sf, $525K) Sat/Sun, 1-4
1609 California Ave SW #C (Condo, 3 bed, 2.5 bath, 1,920 sf, $649,950) Sun, 1-4
5023 SW Grayson St (3 bed, 1.75 bath, 2,290 sf, $780K) Sun, 1-5
2363 53rd Ave SW (3 bed, 2 bath, 1,670 sf, $675K) Sat, 11-2; Sun, 1-4
June 27, 2008
Spending your pre-July 4th weekend looking for homes? Check out these Redfin opens coming up!
10031 SE 204th St, Kent
Open House: Sunday, June 29th, 1-4pm New Listing!
$334,500
| Beds: |
3 |
| Baths: |
1.5 |
| Sq. Ft.: |
1,53 |
4040 46th Ave SW, Seattle
Open House: Saturday, June 28th, 1-4pm
$569,500
| Beds: |
4 |
| Baths: |
1.75 |
| Sq. Ft.: |
2,280 |
3249 NW 65th,Seattle
Open House: Saturday, June 28th, 1-4pm
$1,150,000
| Beds: |
4 |
| Baths: |
3.5 |
| Sq. Ft.: |
4,199 |
4615 123rd Ave SE, Bellevue
Open House: Sunday, June 29th, 1-4pm
$499,999
| Beds: |
3 |
| Baths: |
2.5 |
| Sq. Ft.: |
1,810 |
311 22nd Ave, Seattle
Open House: Sunday, June 29th, 1-4pm
$495,500
| Beds: |
3 |
| Baths: |
1.75 |
| Sq. Ft.: |
2,8 |
June 27, 2008
Open House Date and Time:
Sunday, June 29th, 1-4pm
10031 SE 204TH St
Kent, WA 98031
Seller Comments
Coffee Shop of Choice:
A nice early morning walk to Starbucks for our favorite latte.
Favorite Restaurant in the Area:
We love Paulo’s Italian Restaurant. It’s small and family owned, with truly gourmet meals. And when the mood for pizza strikes, its off to Angelo’s.
Favorite Places to Go:
Soo’s Creek walking trail or maybe a bike ride down the Interurban trail to Emerald Downs are great ways to spend the day.
Best Features of the Home:
The easy flowing floor plan with open dining room and kitchen makes for great entertaining.
Favorite Room:
The kitchen, by far. We both like to cook and it just seem like that’s where everyone gathers. Plenty of room for the chef and the sous chef to prepare dinner together!
Any Remodeling Since Last Sale Price:
The kitchen, bathroom, and dinning room have all had a major remodel; but every room and the outside have had some kind of update.
Most Romantic Spot:
Quiet evening in front of the fire with a bottle of wine and listening to our favorite CD.
What’s in the Neighborhood:
Close to shopping, stores, and schools but far enough away to feel and enjoy the quiet and privacy of your own back yard.
What I Will Miss the Most:
Has to be all the good times on the patio and back yard with family and friends over for barbecue and hot tub, or just hanging around the fire pit talking old times and telling stories.
