Just Listed in Greenwood - Spacious with Style for $450,000!

I just listed this fun home in popular Greenwood that boasts style and space for everyone! Super cool vintage fireplace is at the heart of the home. Close to Carkeek Park, restaurants, grocery, schools, & trendy downtown Greenwood. Newer roof, furnace, plumbing, windows, floors & paint. Bonus finished room perfect for home office, studio, etc. accessed from back patio. Huge rec room downstairs. MIL/ADU potential in basement or perhaps build a backyard cottage? Spacious tranquil yard with patio, and garden space including blueberries, pears, plums, apples, & grapes. Welcome Home!

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Open this Sunday 2/14 from 1-4pm
9745 3rd Ave NW, Seattle

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The Supreme Court’s Gay Marriage Decision Is a Housing Game Changer

Last week was definitely one for the record books for milestones in American history.

The U.S. Supreme Court’s 5-4 decision on Friday not only opens the doors to legal same-sex marriage throughout the 50 states—it will also help increase homeownership among LGBT couples as more couples will be able to qualify for mortgages together now with a "married" status which gives mortgage lenders added security.
Read more about how this landmark decision may be opening doors for same sex couples from Realtor.com's news article.

Curious how this may help you? I work with the best lenders in the business that would be delighted to answer questions and offer advice. Please don't hesitate to get in touch to see how my team can help.

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Seattle No. 1 for techies looking to flee California

The Seattle Times published today that Seattle is the number one spot for Silicon Valley refugees looking to flee the brutal housing market of the Bay Area.
This is nothing new, as we real estate agents have been witnessing this trend for quite some time now.
According to this article, the median home price in the San Francisco / San Jose market is over $1M, about 86% more than in Seattle. But the average software developer in Silicon Valley only makes about 12% more income than in Seattle. This is a big part of the reason why I don't think prices in our Seattle housing market are going to be coming down anytime soon! With our fantastic climate, jobs/economy, geographic limitations, traffic and recent growth, I'm afraid the rapidly rising home prices in close-in Seattle are here to stay for a while.

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In Seattle, the rent is too damn high

From Grist, June 3, 2015 written by Katie Herzog

"Seattle is booming. The out-of-the-way Northwest city that used to be thought of — when it was thought of at all — primarily as the home of grunge music and drizzle is now among the fastest growing major cities in America. The population is skyrocketing, the unemployment rate is low, and gleaming, luxury apartments are going up seemingly overnight (a recent count showed 75 cranes rising over downtown). From the outside, life is good in this once-sleepy town, especially compared to cities still recovering from the Great Recession. But reality is more complicated, and nowhere is this more apparent than in Seattle’s housing market."
Read more on Grist.

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Here's how you sell an 1,100-square-foot Ballard house for $717,000

The Puget Sound Business Journal recently published this article about selling an 1,100 sqft brick house in Ballard for $717,000 ($158,000 more than the asking price).

Yep yep! We're seeing this happen all over the hot neighborhoods of Seattle. Presentation is still key to get this kind of activity. You can't just throw your home on the market and expect 20% over the asking price in a week. Strategizing, marketing to your target demographic and presenting the home in a way that will appeal to the buyer's emotions is key to the really insane bidding wars.

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The 10 Best Neighborhoods in Seattle?

Seattle Met has recently published what they think are the 10 best neighborhoods in Seattle with regards to the city's crazy housing market.
What surprised me is how few neighborhoods north of downtown were listed. No Wallingford, or Green Lake, View Ridge or Wedgwood. Yay for my hood of Greenwood though! I'd have to agree that it is one of the hottest up and comers right now. A half dozen or more new restaurants popping up in a 2 block radius in just a couple of months. I even have clients that have Greenwood as their first choice to live now! It used to be all of those that couldn't quite afford Ballard or Phinney, but now I've had multiple clients tell me Greenwood is where they want to be with the right mix of convenience, diversity and community feel.

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Super Cool Mid-Century Modern Design with Northwest Flair!

I just listed this sweet NW contemporary home in Lake Forest Park today for $550,000! There's been a lot of prep work put into getting this one on the market and it definitely paid off! It looks great and should sell very quickly!

Located just a few steps to Horizon View Park, this unique custom-built 4-bed, 2.75 bath, mid-century modern designed home is set amongst a grove of native trees providing a private arboreal setting. Very spacious and open floor plan with open beam ceilings, clerestory windows and skylights. The bathrooms have been nicely remodeled and new hardwood flooring and carpeting have been installed throughout the home. It's a quick commute to Seattle, the Eastside and Everett area. To top it off, it's got an oversized 2-car garage with shop space and is located on a private 0.4 acre lot!

Come visit me at an open house tomorrow, Sat. April 19th from 1-3pm
4517 NE 201st Place in Lake Forest Park
List Price: $550,000
3020sqft on 0.4 acre lot

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Mid-Century Home Just Listed in Madison Valley!

It's been a very busy week in the Seattle real estate market! January is off to a "bang" as we are seeing multiple offers on many homes in the greater Seattle area.

Just listed yesterday is this cool mid-century home in coveted Madison Valley. List price is $465,000. I love the vaulted ceilings, retro fireplace, and beautiful eco-friendly bamboo flooring!

Three bedrooms, 2 full baths, a large living room, kitchen, and dining room that flows out onto the deck complete the main level. Downstairs there is a good sized rec room which could also be used as a 4th bedroom. Or, remodel and make this your romantic master suite with cozy fireplace! Lots of possibilities to add some personal touches and value to this home, but the seller has provided a beautiful blank slate for you to work with!

Come visit this home and say hi to me today (1/25) from 12-3pm as I hold an open house!
104 31st Ave E, Seattle.

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Adorable Home in Mt. Baker Just Listed Today!

Sometimes you walk into a home and it just steals your heart! This is one of those homes! Just listed today is this absolutely adorable craftsman home in the Mt. Baker neighborhood of Seattle. Beautiful original fir flooring and classic archways greet you as you enter. It's listed for $375,000 and has 2 bedrooms and 1.5 baths. Lots of updates to this charmer include: new roof, windows, electrical, plumbing, heating & central AC, also new carpet upstairs & paint throughout. The kitchen opens to eating nook with built-ins and the large dining room. Cool concrete counters and custom cabinets add to the style of this one! Outside you've got a gardener's paradise in what we've been affectionately calling the "urban farm"! Pear & plum trees, grapes, raspberries will be a tasty treat, with room for growing veggies and even a sweet chicken coop just awaiting new occupants! The detached studio would make a great home office or hobby space. It's just a short walk to restaurants, shops, parks, Lake Washington, public transit and more. I'd hurry on this one! It's pretty great!

Please come see this beautiful home at the open house this Sunday, Jan. 26th between 1-4pm.
3841 37th Ave S, in Mt. Baker neighborhood of Seattle.

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Spacious & Affordable Home - Just Listed in North Seattle!

Just listed today for only $415,000 this 4+ bedroom home in the Pinehurst neighborhood of North Seattle may be just what you've been waiting for!

Situated on a dead-end street, this home boasts privacy, a large lot, 4 bedrooms, 3 baths, plus a rec room, and office/den or 5th bedroom. A large 2-car garage is a rarity this close-in to Seattle's downtown as well! Hardwood floors, fresh paint, newer carpet and a newer roof make this home move-in ready!

Close to Northgate, Lake City and easy access to I-5, Downtown, UW make this a great convenient location in North Seattle! Just wait until Light Rail is expanded to Northgate as well - then this area will be booming!
For you gardeners, there is a large terraced backyard just waiting for your personal touches. Eat Asian pears right from your own tree as you BBQ on your oversized deck as well!
Truly a great home at a great price!

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Unique Live/Work Townhouse Just Listed Near Green Lake!

Ever wanted to work from home or open your own small business? Well, I've got just the ticket!
Welcome home to Green Lake Way Lofts! A unique live/work townhome close to everything!
Great flexible live/work spaces just steps to Green Lake, Wallingford & Fremont. The main floor flex space would make a great office space, art gallery, yoga studio, rec room, 3rd bedroom....you name it! This is a very cool space with high ceilings and bamboo floors. 2nd floor features modern kitchen, fireplace, living & dining rooms. 2 spacious bedrooms & a full bath/laundry complete the 3rd floor. Large windows fill the spaces with great light. 1 reserved parking space included. Wonderful & convenient city-living in a prime location.

This 1600 sqft townhome built in 2010 is brand new on the market for an asking price of $450,000. Feel free to call/email for more details or to take a look!

More photos here

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Cute & Affordable Home Just Listed for only $200,000!

I just listed this cutie of a home today in Mountlake Terrace.  This would make an awesome home for a first-time  buyer or someone looking to downsize.  Two bedrooms, one bath with beautiful bamboo floors, double-pane windows, newer roof and appliances.  Large, level & fenced yard with garden area and patio offers lots of possibilities.  Partially finished garage has a bonus shop/hobby room and laundry area. Super convenient access to freeways makes commuting a breeze. 

Priced at only $200,000, this is the one you've been waiting for!

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Waterfront Living on Lake Bellevue - Just Listed for $320,000!

I just listed this cool condo that is located on a pier on an inner-city lake near downtown Bellevue.  It's resort-style peaceful living with all the conveniences of being in the city!

This bright 2-bedroom condo features a large open floor plan and soaring vaulted ceilings. Enjoy the master suite complete with view deck and cozy fireplace. Bonus room upstairs with skylight would make a great office or rec room. Enjoy the 2 fireplaces and 2 view decks in this great 1558 sqft home! Community features include clubhouse, pool & jacuzzi with a view! Add your personal touches to really make this unit shine!

Just Listed for only $320,000!  Homeowner's dues of $483 include water/sewer/garbage, earthquake & flood insurance, common area maintenance, etc.

Open House this Sunday from 1-3pm.  4 Lake Bellevue Dr. #203 
More Photos

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Adorable Fremont Home Just Listed!

 I'm super excited about my new listing in Fremont!  This one's got loads of character and a super cool sky-lit loft!  It's unique in that it is a house built in 1900, but is actually a condo!  Yeah, that's right a condo!  Back sometime around 1990 someone built two 3-story homes behind this one and decided to declare all 3 of them condominiums.  The monthly dues are very low and include some basic utilities, insurance, and landscaping of the common areas.

Located in the heart of Fremont it's just steps to restaurants, parks, the zoo, the Burke Gilman trail, Green Lake, and more.  Flooded with natural light and beautiful hardwood floors, the main floor consists of large living and dining rooms, an efficient kitchen, 2 cheery bedrooms, and a full bath.  The upper loft has 3 large skylights and would make a great master bedroom, office or art space, or even a rec
room.  Fresh paint throughout with nothing more to do than to enjoy the privacy of a house and the low maintenance condo lifestyle - Truly the best of both worlds!

Priced at only $350,000 this one makes living in a fun neighborhood close to downtown affordable.

Here's a PDF flyer and a link to additional photos.

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Awesome Wallingford Condo Just Listed!

Wow, I've been way too busy and neglecting this blog yet again.  Busy with lots of Buyers and Sellers this time of year...it's one crazy market that's for sure!

I spent the last couple of weeks getting a great 1+ bedroom condo ready for the market in Wallingford.   Brand new listing as of today - $240,000, 777 sqft, 1 bedroom + bonus room (currently used as office), 1 bath.
3333 Wallingford Ave N. Unit #102

Welcome home to Tavona in fabulous Wallingford!
Just steps to the Burke Gilman Trail, Gas Works Park, multiple restaurants, pubs and coffee shops! This well-appointed 1+ bedroom unit boasts 13-ft ceilings, stainless appliances, granite counters, a bonus room and is ADA accessible. Step out to the lovely courtyard with BBQ & outdoor lounge chairs. Large laundry/utility room is great for extra storage and 1 secure garage parking space is also included. A prime location for an easy commute anywhere in the city!

Here's a PDF flyer, and a link to additional photos and neighborhood info/photos.  Feel free to contact me for a showing or more info!

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NWMLS Market Update: April 2013

Prices “spiking” as home buyers compete for scarce inventory

NWMLS, Kirkland, WA, April 4, 2013 – Brokers added 9,332 new listings to the Northwest Multiple Listing Service database during March, but pending sales topped that number to further crimp inventory and trigger competitive bidding among buyers who are flocking to open houses.

“All price ranges are feeling a lift,” reported Dick Beeson, principal managing broker at RE/MAX Professionals in Tacoma. Northwest MLS director John Deely echoed that comment: “We are seeing many homes in Seattle meet and exceed pre-bubble price levels,” stated Deely, the principal managing broker at Coldwell Banker Bain in Seattle.

“The recovery continues on a slow and steady pace in most areas and surging hard in others,” concluded Darin Stenvers, vice chair of the MLS board.

Northwest MLS figures show year-over-year prices jumped 14.9 percent for the 21 counties in its service area. The median price for last month’s closed sales of single family homes and condominiums (combined) was $258,500, rising from $225,000 for the same month a year ago. Twelve counties reported double-digit gains, led by Ferry (up 70.9 percent), San Juan (up 47.3 percent), and Island (up 36.1 percent).

Prices for single family homes increased 14.3 percent, while the median sales price for condos, which accounted for about 12 percent of sales, surged 19.6 percent. Two-thirds of last month’s condo sales were in King County; prices there leaped 28.6 percent, increasing from $175,000 to $225,000. The price of a single family home that sold in King County jumped from $330,000 to $392,000 (up 18.8 percent).

Brokers reported 5,745 closed sales last month for a 13.9 percent increase from the previous year when they tallied 5,044 completed transactions.

“The market continues to be incredibly competitive with at least one in four buyers paying cash,” noted MLS director OB Jacobi. “For those not paying cash, the average down payment is between 20 percent and 50 percent,” he added.

Jacobi, the president of Windermere Real Estate Company in Seattle also reported the vast majority of home sales right now have multiple offers, and “it’s no longer restricted to the urban markets — the outlying areas are now experiencing the same thing.”

Brokers say even distressed sellers are receiving multiple offers for their homes.

“As one of my brokers told me, when you have 12 offers on a short sale, it pushes the price of the home up to market value. This is clearly reflected in the appreciation we continue to see in prices across the board,” Jacobi stated.Stenvers, the branch manager at John L. Scott’s Bellingham office, also noted the impact of distressed homes (including bank-owned and short sales) on the market. “They are not going away, but have slowly leveled off, leaving room for a sustainable return to the ‘normal’ market volume of 2001-2004,” he reported. “This should help the market to continue its recovery, but appraisals will remain a looming concern for buyers until comparable sales can close,” he added.Inventory is depleted area-wide, with only 18,500 active listings in the MLS system at month end. That total is down by almost 6,400 listings year-over-year for a 25.7 percent drop. Counties with the largest declines include Clark (down 46 percent), Snohomish (down 43.8 percent) and King (down 42.4 percent).

System-wide, there is less than a two-month supply of homes, with the tightest selection in Snohomish (0.93 months), King (1.03 months), Clark (1.81 months) and Pierce (1.68 months) counties. In general, analysts consider four-to-six months of supply to be normal.

The upward spike in prices is largely the result of limited supply. “Whenever we get down to a severe shortage of homes for sale, we get double-digit home price appreciation,” observed J. Lennox Scott, chairman and CEO of John L. Scott Real Estate.

Demand continues to outpace supply, creating high absorption rates, Deely stated, adding “Open houses are drawing large crowds.” For example, he reported several open houses from the past weekend experienced traffic exceeding 50 people per day.

“Fortunately, Kitsap is the eddy to Seattle’s fast-current market,” said Frank Wilson, Kitsap district manager for John L. Scott Real Estate and a member of the Northwest MLS board of directors. “Our homes are still selling nicely with a medium amount of multi offer activity and a ‘normal market’ spring ramp-up,” he added, with a note of caution about rapid price jumps and low appraisals.

“Price appreciation is a two-edged sword. Too much, too fast will land us where we were a few years ago. Slow and steady appreciation is what we are seeing now and hopefully in the future. This will allow the average income earner in Kitsap to still be able to qualify for a home,” Wilson stated. He also noted “significant investments” being made in that county by businesses such as Harrison Hospital and Safeway. “Investments like these are not made unless the businesses are bullish on the future growth of Kitsap County.”

The South Sound market is responding to trends elsewhere, according to Dick Beeson, principal managing broker at RE/MAX Professionals in Tacoma. “Buyers are everywhere and sellers are strategizing when, how and at what price to come on the market,” he commented, but said both parties sometimes have unrealistic expectations. In addition, he said “multiple offers create additional issues for brokers, buyers, appraisers, and lenders.”

“Many buyers are still clinging to the idea that they have the upper hand in the real estate market. Well they do and they don’t,” Beeson remarked. Buyers have the upper hand when sellers want to list for “absurd prices and refuse to repair serious flaws in their properties,” he explained.

Thinking that banks and short sale sellers and their corresponding underlying lenders are easy pickings and will accept any price is also flawed, according to Beeson, whose analysis shows about one-fourth of inventory is still made up of distressed properties. “With banks experiencing considerable pressure from Congress and the public not to foreclose, more short sales and fewer foreclosures are anticipated,) he suggested. Rising prices “could take some properties past the short sale price at which they started. That’s good for all of us,” he added.

“With sales trending upward and listing activity trending downward, it’s no surprise inventory seems to be hitting new lows,” said Mike Grady, president and COO of Coldwell Banker Bain. “Homeowners and investors appear to be holding out for property values to increase,” he added.

Pending sales are mirroring the shifts in market conditions. Volume area-wide was up only 3.9 percent from a year ago, rising from 9,126 mutually accepted offers to 9,482.

Five counties – Ferry, Grays Harbor, Island, King, and Snohomish — reported fewer pending sales than a year ago, likely a consequence of the limited selection.

“The old supply and demand equation is fully in play,” observed Stenvers. Citing data from the chief economist for Stewart Title, Stenvers said the pressure on rental markets will continue to drive buyers back into home ownership for the next 15-24 months, magnifying inventory shortages. He said the northern regions of the state (encompassing Whatcom, Skagit, San Juan and Island counties) are experiencing declining inventory and rising sales consistent with a recovery.

Stenvers also noted most economists agree it’s not a matter of if interest rates will go up, but only a question of which quarter of 2013 the rise will occur. “If inventory stays low and interest rates climb, buyers may feel they missed out on the bargain they are looking for and sales my slow again by the end of the year,” he surmised. Nevertheless, he pointed out with home sales expected to return to 2003-2004 (pre-bubble) levels, and median prices not yet reaching those same levels, “homeownership is still very attractive and remains a solid investment.”

__________________________

Copyright © 2013 Northwest Multiple Listing Service
ALL RIGHTS RESERVED
This material may not be copied, published, broadcast, rewritten or redistributed without prior permission.

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A Sense of Urgency in the Seattle Home Market

It seems today's home buyers are feeling a very strong sense of urgency in the greater Seattle area.  With the 30-year fixed-rate mortgage expected to rise to above 4 percent some time this year, and home prices rising, Buyers are wanting to get into something now to take advantage of the lower rates and prices.  The only problem with this plan is that with our extremely limited inventory it is causing quite the frenzy and crazy bidding wars!  Buyers are feeling the stress of potentially getting priced out of the market as it seems home prices are rising weekly right now!

I'm experiencing this first-hand in the entire Seattle metro area in pretty much all but the highest price points.  Some agents are recommending very large earnest money deposits ($50,000+) and waiving all contingencies, including financing.  I can't in good faith support this practice, especially if the buyer is indeed planning to finance the purchase.  It is just too risky, and with how rapidly our prices seem to be increasing there is a high likelihood that the appraisal on the home (selling for substantially over the asking price) will not come back high enough to justify this price. This would mean the Buyer may need to bring in cash to make up the difference, or risk losing both the home and their earnest money since their loan will not be approved with the low appraisal.  There are other ways to make your offer strong and to give a Seller good reason to accept your offer that includes a financing contingency.  If you are needing to obtain a loan to purchase a home, you should really never waive the financing contingency.  There is no reason to if your agent is familiar with how the standard NWMLS financing contingency works and can explain to a Seller how it can benefit them as well.

Every transaction and offer I have been involved with this year has been a multiple offer situation, even when you're the very first buyer (submitting an offer within 30 min. of the home being listed in the MLS), it seems you will likely still be dealing with competition.  Please make sure you've got an agent that knows all the ins and outs of how to best structure your offer to make it as strong as possible but still keep you protected.  And if you're a home seller, please make sure your agent knows exactly what is happening in your local market week-to-week and is experienced in dealing with these multiple offer situations.  It's really not the kind of market you want to hire a rookie or part-time agent in, regardless of whether you're buying or selling.

To all the people in the greater Seattle area trying to purchase a home right now....Hang in there!  It is a tough market and it's easy to feel discouraged or beaten up, but the right home is out there for you!  It might just take a little longer than you originally expected! 
And to all the homeowners who have been considering selling - We have not seen a better time to sell since prices began to fall in 2007, and we have never seen such a discrepancy in supply and demand!  You may be very surprised at how much your home may sell for in today's market in just a few days!  I'm happy to provide a free, no-obligation market analysis to anyone who's curious. 

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Beacon Food Forest

I'm still very much in love with this "food forest" idea!  I wish there were more in Seattle!  What a fantastic move towards permaculture and community sustainability!  Personally I think all of those grassy/weedy abandoned city alley ways throughout Seattle residential neighborhoods should be turned into P-Patches, food forests or some other form of community edible gardens!

Way to go Beacon Hill!  I was driving by last weekend and checked it out and there was a large neighborhood work crew getting it ready!   Yay for community!

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SeattlesHomes has a New Home Search!

SeattlesHomes.com is sporting a slightly new look and a very new home search.  This was a long overdue upgrade and is quite snazzy if you ask me.  The map-based home search is super responsive and is also very "touch-friendly" for your tablets and phones.  All of the search criteria can be changed in the upper left and includes things like "green homes", "bank-owned homes", "brand new listings", and more.

Please understand we're still working out a few bugs with the rest of the site so if you see something wonky do let us know!  Or if you like the new search we'd love to hear that too!

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New Homes & Live/Work Units Under Construction in Greenwood

There are some new homes under construction right near the remodeled Fred Meyer in Greenwood.  Kohary Construction is the builder and pre-sales are now available.  The free-standing townhomes (no shared walls) are priced at $549,000 and the duplex live/work spaces along 3rd Ave. are priced at $449,000.

It's good to see lots of new construction back in the neighborhood! 

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