Sharon Blumer at the Ballard Art Walk in September 2008

I'll be presenting new works by artist Sharon Blumer at the Ballard Art Walk in September. “Montessori Revisited” utilizes the elements of color, texture, light and form we all experienced as children to convey her passion. Drawing her inspiration from the living world, Blumer’s rich textural creations explore the beauty and majesty of the Animal Kingdom. Her playful, multi-dimensional work captures the fleeting beauty of the world’s endangered animals.

September 13th, 2008 from 6 to 9 PM at the FORUM CENTER located at 1718 NW 56th Street, Seattle, WA 98107.

http://www.andrewlparker.com/artwalk.htm

Union Members Save on Lender Closing Costs

I was talking with a friend of mine who is a lender and his company is offering a special program that benefits union members. It saves on closing costs and has mortgage assistance benefits if one is disabled or unemployed. If your a union worker and are considering buying a home or refinancing it is something to consider. See the attached flyer.

Andrew Parker Quartet at the Magnolia Summerfest 2008

My jazz quartet perfromed at the Magnolia Summer Festival earlier this month. Below are video highlights. The Andrew Parker Quartet is composed of yours truly on Tenor Saxophone, Josh Rawlings on Piano, Nate Omdal on Bass, and Adam Kessler on Drums.

Enjoy!

Encompass by Andrew Parker

Killer Joe by Benny Golson

Home Values in North and Central Seattle

Home values in north Seattle dropped from their peak in October 2007 with the median priced home selling for $511,000. By January the median was down to $444,000. Between January and May it worked its way back up to $512,475 and since then has dropped down to $485,938. Sales volume likely peaked in July. The number of pending sales is heading downward. In August I expect values and volumes to be down slightly from July.

October of last year was also the peak for central Seattle. The median priced home at that time was $671,000. Since then home prices have slowly declined to $585,000 in April. In June it was up to $611.750, but July dipped to $584,296. Sales volume looks to be slowly declining. The rest of the year may be bumpy.

View Graphs

Sold Homes in Central and Northwest Seattle July 2008

This month I have condensed my postings for Sold Homes in Central and Northwest Seattle. Let me know if you like or dislike the new layout.

Queen Anne
15 single family homes sold on Queen Anne in July. A little less than half were sold within 30 days at 99.6% of the listing price.
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Magnolia
18 single family homes sold in Magnolia in July. Exactly half were sold within 30 days at 95.3% of the listing price.
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Ballard
24 single family homes sold in Ballard in July. Only 37.5% were sold withing 30 days at 99.7% of the listing price.
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North Ballard (Loyal Heights, Olympic Manor, North Beach...)
37 single family homes sold in north Ballard in July. 64.9% were sold within 30 days at 99.1% of the listing price.
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Green Lake/Phinney Ridge
40 single family homes sold in the greater Green Lake/Phinney Ridge area in July. 47.5% were sold within 30 days at 98% of the listing price.
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Fremont/Wallingford
38 single family homes sold in the greater Fremont/Wallingford area in July. 42.1% were sold withing 30 days at 100.3% of the listing price.
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Terry Blumer at the Ballard Art Walk-August 2008

Join me at the Ballard Art Walk on August 9th. I'll be hosting Terry Blumer from 6 to 9 PM at the FORUM CENTER located at 1718 NW 56th Street, Seattle, WA 98107.

http://www.andrewlparker.com/artwalk.htm

Terry's Artist Statement:
“The architecture of Nature has always intrigued me. From the simple elegance of a leaf to the complexity of a bird’s feathers, nothing created by humans can ever quite replicate the perfect design found in nature. Originally from Texas, I earned my Architectural degree from the university of New Mexico and the controlled elements of architectural drawing strongly influence my work. I work in many different mediums and generally find myself gravitating towards those which encourage assemblages and explore the illusion of multi dimensions. I find collage particularly rewarding as it allows things of beauty to be created out of recycled materials which might have otherwise made their way into landfills.”

Andrew Parker Quartet at the Magnolia Summer Fest

I'll be playing jazz with my quartet at the Magnolia Summer Festival on August 2nd at 1:30 PM.

Look East 2.6MB (an original composition)

More Information
http://www.magnoliachamber.org/summer.htm
http://www.magnoliaartshow.org/

Homes Sold in the Seattle WA Neighborhood of Queen Anne

A total of 24 single family homes sold in the Seattle, Washington neighborhood of Queen Anne during the month of June 2008.

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Homes Sold in the Seattle Wa Neighborhood of Magnolia

A total of 18 single family homes sold in the Seattle, Washington neighborhood of Magnolia during the month of June 2008.

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Homes Sold in the Seattle WA Neighborhoods of Fremont and Wallingford

A total of 26 single family homes sold in the Seattle, Washington neighborhoods of Fremont and Wallingford (zip code 98103) during the month of June 2008.

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Homes Sold in the Seattle WA Neighborhoods of Green Lake and Phinney Ridge

A total of 27 single family homes sold in the Seattle, Washington neighborhood of Green Lake and Phinney Ridge (zip code 98103) during the month of June 2008.

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Homes Sold in the Seattle WA Neighborhood of Ballard

A total of 22 single family homes sold in the Seattle, Washington neighborhood of Ballard (zip code 98107) during the month of June 2008.

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Homes Sold in the Seattle WA Neighborhood of N. Ballard

A total of 41 single family homes sold in the Seattle, Washington neighborhood of N. Ballard (zip code 98117) during the month of June 2008.

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Home Values in North and Central Seattle

North Seattle has rebounded from the low in January. Home values began to drop from their peak in October 2007 with the median priced home selling for $511,000. By January the median was down to $444,000. The median has worked its way back up and by May reached $512,475, but June dipped to $494,250. I expect home values to improve in July. In the past the number of homes sold each month typically peaked in May,but this year the peak will be delayed to July or August.

Central Seattle continues to not fair as well. October of last year was also the peak. The median priced home at that time was $671,000. Since then home prices have slowly declined to $585,000 in April. May showed a slight increase to $588,000 and June continues that rise to $611.750. In July I expect home values and volumes in central Seattle to continue to see a slight improvement.

Below are graphs that track home values and sales volumes of single family homes in Central and North Seattle from January 2006 to present.

Jesse Link at the Ballard Art Walk July 2008

Join me at the Ballard Art Walk on July 12th. I'll be hosting painter Jesse Link from 6 to 9 PM at the FORUM CENTER located at 1718 NW 56th Street, Seattle, WA 98107.

Jesse Link's Artist Statement:
Born in Pittsburgh and a graduate of the Art Institute and West Liberty State College Jesse Link has degrees in Industrial Design and Communications. After college Jesse did little painting until on deployment in Balad, Iraq where he was recognized for his talent after his first painting was sent to be displayed at the Yuma arts center in Yuma Arizona. After 2 years and over 100 paintings in 08 he relocated from New Orleans to Seattle to begin his career as a fine artist.

For more information go to: http://www.andrewlparker.com/artwalk.htm

Work For Food

The Ballard Food Bank has named me a "Food Bank Friend" and noted my efforts to help the hungry in Seattle in their Spring Newsletter. Read Article

If you'd like to learn more about my effort to raise $15,000 to support local food banks and soup kitchens go to: http://www.andrewlparker.com/Workforfood.htm

Auxiliary Dwelling Unit (ADU) in Seattle WA

With the growing population in Seattle Washington and the need for more urban density, homeowners have an opportunity to add value to their home, as well as create additional income for their pocket book, by building an Auxiliary Dwelling Unit (ADU) in the unused space of their home. This additional income may be ideal for the retiree who wants to stay home but the cost of taxes and other expenses are forcing them out, or the first time home buyer who wants to live in a neighborhood they would otherwise be unable to afford.

The expense of remodeling to create an ADU can become costly. For example, adding a second kitchen can cost tens of thousands of dollars. With this in mind, it makes good sense to plan out improvements and additions wisely.

According to the Northwest Multiple Listing Service (NWMLS), the average 2-kitchen home that sold between 2000 and 2004 in North Seattle had a value of approximately $30,000 more than a home without.

For some, the investment of building a second kitchen to create a space for an ADU Unit maybe a worth while investment. However, it goes without saying that not all homes or individuals will function well with an ADU. Before making the investment it is important to have a good design. The space should be designed so it functions well as a rental unit and also as part of the home as a whole. Future buyers may not want an ADU Unit. Therefore, a good design will create a space that is desirable for any use.

Also, being a landlord is not always an easy job. Between finding and screening potential tenants, collecting rent, dealing with concerns, complaints, and maintenance problems being a landlord can be a lot of work.

Homes Sold in the Seattle WA Neighborhood of Queen Anne

A total of 27 single family homes sold in the Seattle, Washington neighborhood of Queen Anne during the month of May 2008.

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Homes Sold in the Seattle WA Neighborhood of Magnolia

A total of 15 single family homes sold in the Seattle, Washington neighborhood of Magnolia during the month of May 2008.

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Homes Sold in the Seattle WA Neighborhood of Ballard

A total of 28 single family homes sold in the Seattle, Washington neighborhood of Ballard (zip code 98107) during the month of May 2008.

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Homes Sold in the Seattle WA Neighborhood of Fremont and Wallingford

A total of 28 single family homes sold in the Seattle, Washington neighborhoods of Fremont and Wallingford (zip code 98103) during the month of May 2008.

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Homes Sold In the Seattle WA Neighborhoods of Green Lake and Phinney Ridge

A total of 28 single family homes sold in the Seattle, Washington neighborhood of Green Lake and Phinney Ridge (zip code 98103) during the month of May 2008.

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Homes Sold in the Seattle WA Neighborhood of N. Ballard

A total of 46 single family homes sold in the Seattle, Washington neighborhood of N. Ballard (zip code 98117) during the month of May 2008.

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Home Values in Central and North Seattle

North Seattle has rebounded from the low in January. Home values began to drop from their peak in October 2007 with the median priced home selling for $511,000. By January the median was down to $444,000. In May the value shot back up to $512,000 and volumes rose as well. I expect home values to dip but volumes in north Seattle to plateau in June.

Central Seattle is not fairing as well. October of last year was also the peak. The median priced home at that time was $671,000. Since then home prices have slowly declined to $585,000 in April. May shows a slight increase to $588,000. In June I expect home values and volumes in central Seattle to continue to see a slight improvement.

Below are graphs that track home values and sales volumes of single family homes in Central and North Seattle from January 2006 to present.

Jeremy Lange at the Ballard Art Walk June 2008

Join me at the Ballard Art Walk on June 14th. I'll be hosting photographer Jeremy Lange from 6 to 9 PM at the FORUM CENTER located at 1718 NW 56th Street, Seattle, WA 98107.

Jeremy Lange’s Artist Statement:
One of the most compelling elements of photography is its ability to capture in detail a single moment. In literally a fraction of a second a photograph captures the feeling of that moment in its imperfect perfection. These are the moments artist Jeremy Lange strives to capture and the feeling they convey. The proceeds from the sales of Lange’s work will be donated to Big City Mountaineers, a non profit that specializes in offering underprivileged kids an opportunity to experience the outdoors.

For more information go to: http://www.andrewlparker.com/artwalk.htm

Satisfied Real Estate Clients

Dear Andrew, I feel blessed for your help and all that transpired. Thank you! T. Anderson

Dear Andrew, Thank you for finding us exactly what we were looking for. L & T. Sharp

More quotes from satisfied clients. http://www.andrewlparker.com/testimonials.htm

Home Values in North Seattle

Below are graphs that track home values and sales volumes of single family homes in North Seattle which is the geographic area north of the ship canal to 145th Street.

In northwest Seattle, home values began to drop from their peak in August 2007 with the median priced home selling for $494,500. By March the median was down to $434,950. In April it is starting to move back up and was at $454,000. Currently, the volume of homes sold and pending is on the rise. I expect home values in northwest Seattle to continue to improve in the coming months.

In northeast Seattle, homes values began to drop from their peak in May of 2007 with the median priced home selling for $550,000. By January the median was down to $432,000. In April it is also starting to move up and was at $445,000. Currently, the volume of homes sold and pending is on the rise. I expect home values in northeast Seattle to continue to improve in the coming months.

http://www.andrewlparker.com/

Home Values in North and Central Seattle

I've been looking over the sales history of single family homes located in Seattle's central (S. of the ship canal & N. of I90) and north (N. of ship canal) neighborhoods. From the statistics I've created the following graphs.

For north Seattle, home values began to drop from their peak in October 2007 with the median priced home selling for $511,000. By January the median was down to $444,000. There was a move upward in February to $477,000, but the median settled down to $450,000 in April. Currently, the volume of homes sold and pending is on the rise with the warming of spring. I expect home values in north Seattle to improve in the coming month.

Central Seattle is not fairing as well. October of last year was also the peak. The median priced home at that time was $671,000. Since then home prices have slowly declined to $585,000 in April. With the coming of summer I expect home values in central Seattle to flatten out and potentially improve in the coming months.

Mortgage interest rates may be playing a large role in the difference in statistics between north and central Seattle's market. Low interest rates for conforming loans may be helping north Seattle. While jumbo rates which are about 2 points higher continue to be a drag on central Seattle.

Homes Sold in the Seattle WA Neighborhood of N. Ballard April 2008

A total of 41 single family homes sold in the Seattle, Washington neighborhood of N. Ballard (zip code 98117) during the month of April 2008. This is 11% more than March of 2008 but 20% less than April of 2007.

View Listings
This link is active for 30 days from date of posting. If it has expired and you'd like to view these listing contact Andrew at 206-930-8238 or info@AndrewLParker.com .

Homes Sold in Seattle WA Neighborhoods of Green Lake and Wallingford April 2008

A total of 53 single family homes sold in the Seattle, Washington neighborhoods of Green Lake and Wallingford (zip code 98103) during the month of April 2008. This is 10% more than March of 2008 but 22% less than April of 2007.

View Listings

This link is active for 30 days from date of posting. If it has expired and you'd like to view these listing contact Andrew at 206-930-8238 or info@AndrewLParker.com .

Homes Sold in Seattle WA Neighborhood of Ballard April 2008

A total of 24 single family homes sold in the Seattle, Washington neighborhood of Ballard (zip code 98107) during the month of April 2008. This is 20% less than March of 2008 and 15% less than April of 2007.

View Listings This link is active for 30 days from date of posting. If it has expired and you'd like to view these listing contact Andrew at 206-930-8238 or info@AndrewLParker.com .

Homes Sold in Seattle WA neighborhood of Magnolia April 2008

A total of 18 single family homes sold in the Seattle, Washington neighborhood of Magnolia during the month of April 2008. This is slightly less than in March of 2008 but off 48% from April of 2007.

View Listings This link is active for 30 days from date of posting. If it has expired and you'd like to view these listing contact Andrew at 206-930-8238 or info@AndrewLParker.com .

Homes Sold in Seattle WA neighborhood of Queen Anne April 2008

A total of 21 single family homes sold in the Seattle, Washington neighborhood of Queen Anne during the month of April 2008. This is slightly less than in March of 2008 but off 46% from April of 2007.

View Listings This link is active for 30 days from date of posting. If it has expired and you'd like to view these listing contact Andrew at 206-930-8238 or info@AndrewLParker.com .

Jennifer Huhns at the Ballard Art Walk-May 2008

I’ll be hosting Jennifer Huhns this month at the Ballard Art Walk. She creates original stained glass mosaic art panels and custom architectural installations. She uses recycled materials whenever possible to create art that celebrates the beauty of nature and the human experience.

Stop by to view her work and enjoy a little wine, beer and Hors D Oeuvres. More Details

Homes Sold in the Seattle WA Neighborhood of Magnolia March 2008

A total of 19 single family homes sold in the Seattle, Washington neighborhood of Magnolia during the month of March 2008. This was slightly less than in February of 2008 but off 1/3 from March of 2007.

Last month the average home sold for $724,303 and the median sold for $715,000. The average is up 8% and the median is up 6% from February, but off 13% and 8% respectively from March of 2007.

View Listings This link is active for 30 days from date of posting. If it has expired and you'd like to view these listing contact Andrew at 206-930-8238 or info@AndrewLParker.com .

Work For Food in Seattle!

More progress has been made with my campaign to help the homeless in Seattle. To date I've raised $2050.00. To learn more about my campaign go to http://www.andrewlparker.com/Workforfood.htm.

Letter of Recomendation for Andrew L. Parker RE/MAX

Dear Andrew,

Thank you so much for all your assistance in selling my Condo last month. Dealing with real estate matters can be very stressful but your knowledge, courteous demeanor, and professional attitude guided me effortlessly through the maze. It was a most rewarding experience and I can't imagine having such a swift and successful sale without your help.

I shall recommend you as a Realtor with the highest level of integrity. May you have continued success.

Sincerely,
Thelma Anderson

View Letter

To read other letters of recommendation for Andrew L. Parker go to: http://www.andrewlparker.com/testimonials.htm

Seattle Real Estate Market Review

The number of home sales for March 2008 in the greater Queen Anne, Magnolia, Ballard, and Greenlake is trailing 2007's numbers by just over 25%. In addition home prices are down. Of the 188 homes that sold in March the average home sold for 8% less and the median home sold for 12% less than in March 2007.

Sellers who priced their homes right netted the most money from their sale. Below is a breakdown of the average sales price divided by the average listing price (% sp/lp). It is clear that the longer the home is on the market the less money a seller will net.

• 30 Days: 99.79%
• 31 to 60 Days: 98.15%
• 61 to 90 Days: 94.70%
• 91 to 120 Days: 97.08%
• 121+ Days: 95.96%

Seattle is still feeling the hangover type effects of the mortgage meltdown. I believe we are at the bottom and the market will start to work its way to better health.

As we approach summer the real estate market should improve. Although the average and median priced home for this area was down, I believe the real estate market is unlikely to crash in Seattle as it has in other areas of the country. In a recent article Forbes.com lists Seattle as the tenth best city for home sellers.

Margi Baxter Wilburn at the Ballard Art Walk April 2008

I’ll be hosting photographer Margi Baxter Wilburn this month at the Ballard Art Walk this month. Her work “…is all about bringing people a different view point. There are so many more ways to see than at eye level.”

Stop by to view her work and enjoy a little wine, beer and Hors D Oeuvres. More Details

Mortgage Rates & Federal Funds Rates

Recently there has been a lot of press regarding the Federal Reserve lowering interest rates. Many people believe this action also lowers home mortgage rates, but the 30 year fixed mortgage interest rate is not directly tied to the Fed’s rate cuts.

First, a little background: Each day, banks are required by law to keep a certain amount of money in reserves, so that the next day they’ll have enough liquid assets to do business (e.g. make loans, fulfill withdrawal requests…).

At the end of the day banks do not always have their minimum reserve requirements in store. So the banks lend each other money overnight to meet their reserves. The interest rate at which the banks lend each other money is called the Federal Funds rate. This is the rate Federal Reserve Chairman Ben Bernanke has direct control over and has been cutting lately. Bernanke’s desired effect is to stimulate our economy by making money available more cheaply to banks.

Lending institutions can pass along the savings to consumers with some loans. For example, the Federal Funds rate correlates closely to the Prime Rate, which is the interest rate banks use to lend to their best customers. The interest rate for a Home Equity Line of Credit is typically set according to the Prime Rate.

The Fed cannot step in and control the pricing on the 30 year fixed rate mortgage. This rate is determined by the market demand for mortgage-backed securities and bonds. Typically when the bond market is doing well and the stock market is doing poorly the rate for a 30 year fixed mortgage is lower.

Simply put, a slowing economy equals lower mortgage interest rates. While a growing economy equals higher mortgage interest rates.

Seattle Real Estate Market Review

The number of home sales for February 2008 in the greater Queen Anne, Magnolia, Ballard, and Greenlake areas is beginning to pick up. It continues to be off February 2007's number, but only by approximately 15% incomparision to 33% last month. The bad news is that there was a dip in home prices.

The average home sold for 2% less and the median home sold for 5% less than in February 2007. Homes that were priced right continued to sell well. The 72 homes that sold within the first 30 days of the listing date were purchased for just over 100% of the listing price (% sp/lp). While the 22 homes that sold between 31 to 60 days were purchased for approximately 97% (% sp/lp). A note to sellers: price your home right. It will save you time and money.

I'm beginning to believe more and more that the bottom of the current slow down was in October, November, and December of 2007. As we approach summer the real estate market should continue to improve.

Although the average and median priced home for this area was down, I believe the real estate market is unlikely to crash in Seattle as it has in other areas of the country.

Conforming Loan Limits Seattle

As I mentioned in my blog entry last month with this same title, both congress and the Bush administration have agreed to raise the conforming loan limit through the end of the year. This change is part of the economic stimulus package that was approved by congress recently.

For King, Snohomish, and Peirce Counties the conforming loan limit has been raised to $567,500.00. This is calculated on a new formula that is based on the median home price of the area, which allows Fannie, Freddie and the FHA to guarantee loans of up to that amount.

We must wait and see what the Banks will do with this change, but it is likely that conforming loans will be available in the greater Seattle area for up to that amount. A great help for individuals who intend to purchase a home or refinance with a loan between $417,000 and $567,500.00 by saving them approximately 1% of interest on their loan.

As more information becomes available on this topic I'll be sure to provide updates.

To check the loan limits your self click here.

Jean Mann at the Ballard Art Walk in March of 2008

I'll be hosting artist/singer/song writer Jean Mann at the Ballard Art Walk this month. It is on Saturday the 8th from 6 to 9 PM at the FORUM CENTER. To preview the show go to: http://www.andrewlparker.com/artwalk.htm

Work For Food in Seattle!

I'm making progress with my campaign to help the homeless in Seattle. To date I've raised $1050.00. To learn more about my campaign go to http://www.andrewlparker.com/Workforfood.htm.