Monday, November 14, 2011
Wednesday, October 26, 2011
SQUARE FEET: 2,280
LOT SIZE: 5,100 SF
YEAR BUILT: 1900
Large, updated Ballard house with plenty of room for everyone. One half-block from Salmon Bay Park on 20th Ave. NW & an easy walk to schools. Nine foot ceilings with crown molding throughout main level. Two full baths and four bedrooms. Improvements include double pane windows, new carpet, new vinyl flooring with new wood floors in the kitchen & formal dining room. Fresh paint inside and out. New front porch and back deck. New gas furnace & electric forced-air heat in the bedrooms. Big utility/laundry. Private back yard.
More information and photos...
Thursday, October 20, 2011
Think of it like the weather. The weather for the state of Washington on a given day will be different than the weather in Seattle. The weather in Seattle may be different if you are on the waterfront vs. in land.
Which homes are selling in Queen Anne and Magnolia? At different price points the market acts differently. The most active price point in the last six months were the 35 homes that sold from $350,000 to $400,000. While the market for homes priced above $700,000 was much slower.
Which homes sold the quickest? Below is a graph that shows the number of days on market (DOM) for homes in many price ranges. In the price range of $500,000 to $550,000 there were 26 homes that sold with an average DOM of 21 days! WOW! That's a hot market!
As it shows above, for those who own homes in active price points now is a good time to sell. Plus there are also some excellent opportunities for home buyers looking in non-active price points.
As the graph below shows, 115 homes sold in the last six months that were priced between $350,000 and $400,000. In general the quantity of homes sold that were priced between $250,000 and $550,000 did the best. While there was a much smaller number that sold priced above $850,000.
Which homes sold the quickest? ...Again the homes that were priced right and sold in the most active price range. Below is a graph that shows the number of days on market (DOM) for homes in many price ranges. In the price range of $400,000 to $450,000 there were 71 homes that sold with an average DOM of 18 days! WOW! That's a hot market!
Northwest Seattle includes the neighborhoods of Ballard, Fremont, Greenlake, Wallingford, Greenwood and many others that are located between I5 and the Sound and between the Ship Canal and the City limits at roughly 145th Street.
Tuesday, September 27, 2011
It’s important to remember that you are not just buying a house … you’re buying a neighborhood.
How do you know you’re buying in a neighborhood that is right for you? It’s easy when you keep five things in mind:
1. The time of day when you first lay eyes on a prospective house can affect your impression of the neighborhood. Make sure you visit at various hours throughout the day, and on both the weekdays and the weekends. What may seem a very safe neighborhood during the day can drastically once it’s dark outside. The same can be said for neighborhood traffic flow, which can change dramatically depending on the time of day.
2. Neighborhood choice can be a pocketbook issue, and not just because of house prices and property taxes. Commuting costs – both in time and money – are critical. While you’re paying attention to home prices and subsequent mortgage payments, remember to calculate the actual cost of a commute. You may find the savings you envision based on a home’s lower price isn’t actually a savings at all.
3. Neighbors can be a great resource. Introduce yourself to your prospective neighbors and get their impressions of the neighborhood. Doing your research includes getting to know the neighbors. Ask them what they love about their neighborhood, and what concerns them. If you’re looking at a condo, and there is a condo association which manages the complex, ask neighbors who live there how effective the association is.
4. The Internet can be a boon for researching the nitty-gritty. Check out websites like Moving.com that look at factors such as appreciation rates, neighborhood amenities, commute times, and crime statistics.
5. Some neighborhood characteristics don’t fit neatly into numerical categories or scores. Another website worth taking a look at is NabeWise.com, which looks at 65 "quality of life" characteristics. Want to be near a farmers market, public transit or nightlife? Simply complete the check-list and the site does the search for you.
Remember – house hunting isn’t just about finding the perfect floor plan and the best back yard for relaxing and entertaining. It’s also about finding a neighborhood that suits you.
When it’s time to sell your home, there are a myriad of details to take care of – including recognizing the impact the sale of your home will have on your tax responsibilities. Below are ten tax tips from the Internal Revenue Services’ Summertime Tax Tip newsletter. You can find more tax tips on their website at www.irs.gov.
1. In general, you are eligible to exclude the gain from income if you have owned and used your home as your main home for two years out of the five years prior to the date of its sale.
5. If you have a gain that cannot be excluded, it is taxable. You must report it on Form 1040, Schedule D, Capital Gains and Losses.
6. You cannot deduct a loss from the sale of your main home.
Monday, September 26, 2011
Friday, September 23, 2011
Given all the negative news about the real estate market, one may not know that the median home value in central and north Seattle appreciated 14% since 2004!!! Above shows appreciation for the neighborhoods of Queen Anne, Magnolia, East Lake, Capital Hill, Madison Park, Ballard, Fremont, Wallingford, Green Lake, University District, Ravenna, Bryant, Wedgewood and many more...
Keep in mind this is comparing the first 6 months of 2004 to the first 6 months of 2011. If one purchased a home after 2004 the picture may not be as rosy. However, the image above shows that real estate is a solid invest for those who intend to buy and hold. Below is more information about the real estate market since 2004.
In 2004 the median home value was $397,5000. In 2007 it peaked at $555,000 and in 2011 it was $453,000 which was roughly the same as in 2005. The graph shows that median home values are trending up since 2009 which is a good sign.
In 2004 the average home that sold was on the market for 35 days. Compared to 51 in 2011. The graph shows that the number of days on market is trending down since 2009 which is a good sign. A market time of 45 days is consider healthy
In 2004 over 2,000 home sold in the first 6 months of the year. In 2011 just over 1,300 sold. The graph shows that the number of home sold is trending up since 2009 which is a good sign.
If bought and held real estate in central and north Seattle is a good investment.
Thursday, September 22, 2011
Museum Quality Framing Map: http://g.co/maps/53qca
Tuesday, September 20, 2011
Tuesday, August 30, 2011
11 Smith St, Seattle 98109
Year Built: 1910
Marketing Remarks: Wonderful Queen Anne location! Charming, well-maintained craftsman with lots of updates. Spacious and bright living room with gleaming fir floors, huge formal dining room off kitchen with eating area and butler's pantry. Three generous bedrooms upstairs, renovated bath with original claw foot tub. Extra room on lower level with plenty of storage and space to expand. Updated plumbing and electrical, and fresh interior paint. Off-street parking.
2612 32nd Ave W, Seattle 98199-3222
Year Built: 1951
Lot Sz: .157 ac/6,846 sf
Marketing Remarks: Beautifully Maintained and updated Mid-Century home on large lot with gorgeous private back yard retreat. 3 beds on main, 1 3/4 baths, newer kitchen, roof, bath & heating system. Close to shops, schools, stores & community pool. Huge family/recroom with cosy fireplace, spacious laundry room, loads of storage, office in extra finished room, basement garage with work space, sprinklered front yard and much more.
2855 13th Ave W, Seattle 98119
Yearr Built: 1946
Lot Sz: .122 ac/5,319 sf
Marketing Remarks: Charming exterior masks the spacious interior. Fully updated w/contemporary flare. Chef’s kitchen w/granite, SS appliances and sun-drenched eating area. Perfect layout w/ great room concept. Spacious master suite fills the entire upper level w/ complete privacy, lovely westerly views & his/hers closets. Lower level media rm and guest bedrm. Sip a drink on the oversized patio under the old apple tree. Move in ready w/new landscaping, paint, roof, windows and more. Don't let this one slip away!
3015 W Viewmont Wy W, Seattle 98199
Yr Blt: 1930
Lot Sz: .146 ac/6,380 sf
Marketing Remarks: Romance is back! 5-bedroom/3 bath brick Tudor home on Magnolia's Millionaire's Row. Market priced with tons of space & level fenced yard. Old world charm abounds with original oak floors, stunning fireplace & stained glass. Granite kitchen & stainless steel appliances open to a charming family room. Gas heat & hot water. Master with own bath & private deck with Olympics & Sound views + 2nd upstairs bedroom for nursery or study. 2 bedrooms & bath on the main, guest suite & media room on lower.
2807 W Viewmont Wy W, Seattle 98199
Yr Blt: 1928
Lot Sz: .294 ac/12,793 sf
Marketing Remarks: Pure elegance in this restored 1928 classic sited on an expansive corner lot with panoramic Sound, Olympic and Island views from most rooms. Lovely formal spaces include a sun room, kitchen, family room that opens onto an entertainment size deck overlooking the views and gardens. The master suite includes a dressing room/closet, 5 piece bath and opens onto a private patio. 4 bedrooms upper floor.
1419 8th Ave W, Seattle 98119
Yr Blt: 1993
Lot Sz: .209 ac/9,107 sf
Marketing Remarks: Sweeping, unobstructed views on all 3 levels lift your soul. Reflects the best of the neighborhood's craftsman charm, w/ a light-filled, airy, updated floorplan & many modern conveniences. Featured in Home Magazine! Woven throughout all 3 levels are rich architectural details: box beam ceilings the living/dining rms, ribboned hardwood floors, & mullioned transoms on the windows. Kitch w/ granite counters/cherry cabinets. Incredible view decks for outdoor entertaining! Rare double lot!
Click the following URL to see the Listings: http://www.matrix.nwmls.com/DE.asp?ID=3247381539
Click here to search for listings.
Friday, August 26, 2011
7208 32nd Ave NW, Seattle 98117
Lot Sz: .115 ac/5,000 sf
Remarks: 1922 Craftsman Styling holds much of the Original Flavor & Charm yet Enjoys Upgrades to include; Complete New Kitchen w/Stainless Appliances & Vinyl Windows, New Copper Plumbing & Gas Heat. This Rambler w/Daylight Basement has 4 Bedrooms [2-up & 2-Down], Living Room w/Masonry Fireplace & Formal Dining Room. Flat / Usable Back Yard. Close to Golden Gardens & The Locks / On Bus Line. Bonus! Qualifies for State Bond / House Key Plus Seattle $45,000.00 Down Assistance! Ask for Details.
2239 NW 64th St, Seattle 98107
Lot Sz: .057 ac/2,500 sf
Remarks: Check out the stunning remodel on this 1908 home in the heart of Ballard! Main floor boasts Brazilian Teak flooring, beamed ceilings & a charming open stairwell. Large gourmet kitchen features lots of wood cabinets, recessed lighting, honed granite counters, pantry off kitchen & newer stainless appliances. Master bedroom has vaulted ceilings w/walk-in closet. All systems have been upgraded including new foundation, electrical, plumbing, doors & windows. Off street parking with alley access.
8921 30th Ave NW, Seattle 98117
Lot Sz: .172 ac/7,510 sf
Remarks: Lovely 3 bedroom 1.5 bath home in Ballard community of Seattle, meticulously maintained by one owner family. Freshly Refinished oak hardwood & Lovely Tiled flooring though out. Wood burning & gas fireplaces; Laundry chute; Jacuzzi bathtub, European kitchen appliances; Family room wetbar w/Miele glass cooktop; New W/D. Gas furnace, Ample workbenches in garage great for projects; Large fenced backyard and charming front yard garden. Close to Downtown, Marina, Puget Sound, UW. Quiet Neighborhood.
130 NW 58 St, Seattle 98107-2027
Lot Sz: .085 ac/3,689 sf
Remarks: Classic 1928 Craftsman Bungalow has sweeping Sound, mountain, & sunset views along with original architecture! Amazing tulip leaded glass windows, natural woodwork, breakfast nook, formal dining room, coved ceilings & tile fireplace. Two large bedrooms upstairs & one on the main. Spacious & open, this home awaits your cosmetic touches & presents a rare opportunity. High ceiling basement has new full bath. Only 3 blocks to the Zoo & close to many shops, restaurants, & amenities of Phinney Ridge.
1529 NW 62nd St, Seattle 98107-2336
Lot Sz: .055 ac/2,375 sf
Remarks: Elegant, quality, spacious--just a few words to describe this beautiful home. Built by Greatwood Homes & for sale by original owner. Three floors with a large third floor bonus room & storage. 3 bedrooms on 2nd level. Granite, stainless steel, hardwoods, soaring cathedral ceiling are just some of the in-house qualities. Location, location! 98 out of 100 walkability. Parks, outstanding restaurants, theatre, Ballard Farmer's Market, medical facilities, & library to name a few. Outstanding value.
Click the following URL to see the Listings: http://www.matrix.nwmls.com/DE.asp?ID=3222668397
Tuesday, August 23, 2011
How do you know which projects will not only provide you with inviting home setting you crave right now, but will also add value to your home when it’s time to sell? It’s not easy, but the folks at Builder Magazine recently researched this very topic! Here’s a partial list of their findings:
1. Bring the fireplace inside. People love fireplaces. For many of us, having a fireplace located inside, with the main fireplace structure on an exterior wall, is what we’ve always known. However, if you plan to revamp or replace your fireplace consider a “zero-clearance” option. The venting system will leave your exterior walls and roof intact, which translates to lower construction costs. An added bonus? Ongoing maintenance will be a breeze.
2. Expand your pantry. Custom cabinetry is beautiful, but expensive. Consider expanding a pantry space by using drywall and wire shelving. You still get abundant storage (which both you and future homeowners will appreciate), but your costs will be significantly less.
3. Reconsider the soaking tub. Soaking tubs take up a huge amount of space and are difficult to keep clean. If you’re updating your master bathroom, instead create a tub/shower combo or a two-person walk-in shower. Use the space you saved to expand the closet.
4. Save space with a “straight-run” stairway. Stairways with a corner and a landing are beautiful, but they swallow up a lot of extra space. And these days, with buyers coveting an abundance of storage space, a straight stairway will provide more opportunities for built-in storage under and around the stairs.
5. Consider window placement. Most of us know the value of natural light, and are drawn to homes that are light, bright, and open. If a renovation to the front of your home is on your list, consider adding more windows on the street side. Well-placed windows on the front of the home provide terrific curb appeal, while also suggesting abundant natural light throughout the rest of the house.
Monday, August 22, 2011
Here are my reasons why right now is the right time to buy in Seattle, Washington … and why, if you’re currently renting, you may be missing an incredible opportunity.
1. Prices are lower than they have been in many years. According to a recent CNN article, home prices have dropped enough – and rents have risen enough – to make buying the better option. As an example, Seattle-area home prices have fallen nearly 26% from their peak in mid-2005; however, rental rates are rising quickly.
2. Interest rates are still at historic lows. Rates have just dropped on 30-year fixed loans to under 4%, and 15-year fixed loans to just over 3%.
3. Jumbo loans rates (rates for mortgage loans in excess of $417,000) are lower than they have been in years. Until recently it’s been difficult for buyers in higher price ranges to find affordable financing options. But many lenders have begun offering jumbo loans again, with rates on 30-year fixed loans between four and five percent. As recently as two years ago, the average jumbo rate was more than 6%. If that doesn’t sound like much of a savings, look at this example: by lowering your rate from 6+% to 5%, you could save more than $5,800 a year on a $600,000 mortgage.
4. Mortgage interest can be deducted from your taxes. The same can’t be said for renting.
5. You can’t build equity or leverage your money when you rent. This graph shows what you might pay your landlord in rent in each month, and doesn’t even take the inevitable rate increases into account. Yes, the money you pay in rent builds equity – but it’s your landlord who’s benefiting, not you! Renting doesn’t give you an opportunity to leverage your money into something that will create long-term value for you.
It’s important to understand how the current economy affects our local market, and what it means to you, your budget, and your housing needs. As an expert in our market, I can help you determine the best ways to maximize your resources by providing sound real estate advice. Give me a call at 206-930-8238, or contact me via the web and let’s talk about why now is a terrific time to step into the market.
Northwest Seattle ( Ballard, Fremont, Wallingford, Green Lake...) home values jumped up from the low in February of this year. In July the median home value was $418,000 and the average was $456,405, which is an increase of 12% and 15% from February of 2011. However, it is a decrease of 3% and 1% from July of 2010.
The number of homes sold continues to be strong. While the number of pending sales is showing signs of declining which is typical for this time year.
Queen Anne and Magnolia home values are trending up from the low in March of this year. In July the median home value was $548,000 and the average was $655,035, which is an increase of 17% and 24% from March. However, it is a decrease of 10% and 1% from July of 2010.
The number of homes sold is up significantly from the February. While the number of pending sales is showing signs of declining which is typical for this time year.
The median home value has remained relatively flat from May to July at $350,000, while the average was $444,827. When comparing July of 2010 to 2011, the median is down 12%.
The number of homes sold in July was 1678, while the number of homes that are pending was 2,297.
Friday, July 15, 2011
Since the beginning of 2009 more homes sold in June of 2011 than any other month in King County! The number rose to 1,884, while the number of homes that are pending fell to 2,389.
The median home value plateaued from May to June at $345,000. The average jumped up to $449,715. When comparing June of 2010 to 2011, the median is down 10.0%.
Statistics provided by the NWMLS. Information deemed reliable but cannot be guaranteed.
Thursday, June 16, 2011
From January to May home values in the Seattle neighborhoods of Queen Anne and Magnolia have been slowly increasing. However when comparing May of 2010 to May of 2011 both the median and average home price is off by 15%. So far 2011 has been a tough year on home prices in Queen Anne and Magnolia.
The number of pending and closed homes sales were strong in May with 57 homes pending and 51 homes closed.
Tuesday, June 14, 2011
The median home value in northwest Seattle was relatively flat for May at $402,500, and the average dipped to $435,128. When comparing May of 2010 to 2011 the median home price moved up $1,000 while the average moved down approximately $8,500. This includes the neighborhoods of Ballard, Fremont, Wallingford, Green Lake, Greenwood, Broadview and Haller Lake.
The number of pending sales moved up to 177. While the number of homes that closed was 128.
King County's median home value slid down by approximately $5,000 in May to $345,000. The average moved down as well by approximately $17,000 to $420,145. When comparing may of 2010 to 2011 the median is down 9.0% and the average is down 8.4%.
The number of homes that sold rose to 1,654, and the number of homes that went pending rose to 2,485 in May. These numbers should continue to rise in June.
Friday, June 10, 2011
Queen Anne and Magnolia: 58 vs. 116
Capital Hill and Madison Park: 57 vs. 132
Ballard and Green Lake: 42 vs. 91
U-District and Lake City: 41 vs. 101
The number of days a home is on the market is a good indicator of how active the real estate market is in an area. Typically, homes that sell in fewer days have a selling price that is closer to the listing price.
Friday, May 20, 2011
The number of homes that sold plateaued at 1,533, and the number of homes that went pending decreased slightly to 2,318 in April.
Typically May and June are the months that the largest amounts of homes sell. So it is likely that the volume of home sales will continue to rise.
February of 2011 was a new low for home values. Experts say one factor that may have caused this is consumer confidence, which was pushed down by rising oil prices, unrest in the Middle East, the major earth quake in Japan, and the growing inventory of Bank Owned and Short Sale homes.
If you’d like to know more about our local home values and what they means to you, contact me and let’s talk 206-930-8238.