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.

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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.

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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.

Great Quote

"...to do my duty in this world as well as I am capable of performing it, and to merit the good opinion of all men." George Washington

Conforming Loan Limit

Both congress and the Bush administration have agreed to raise the conforming loan limit until the end of the year. This change is part of the economic stimulus package that was approved by congress recently.

For the greater Seattle area (Seattle, Tacoma, Bellevue) it looks like the new formula for determining this limit will be calculated based on the median home price. Fannie, Freddie and the FHA will be allowed to guarantee loans of up to 125% of that value.

From the information I've gathered the greater Seattle area has a median home price of $394,700, which would raise the conforming loan limit to $493,375.

Currently the difference between a conforming loan and a jumbo interest rate is about 1%, which is a lot. For example, a buyer who wishes to purchase a home with a 5% down payment with a 30 year fixed conforming mortgage at 5.75% for $437,850 would have a monthly principle and interest payment of $2,427. However if the purchase price of the home was $437,851 a jumbo loan would be required and the interest rate would likely be about 6.75%. Changing the month payment to $2,698. A difference of $271!

With the change to the conforming loan limit a buyer with a 5% down payment would be able to purchase a home for up to $518,000. Since this is a conforming loan the interest rate would be about 1% less than what is currently available, which could potentially save them $320 per month.

If you are considering purchasing a home for over $440,000 but under $518,000 it may be worth your while to wait until this change has taken effect. As more information becomes available on this topic I'll be sure to provide updates.

Seattle Real Estate Market Review

The number of home sales for January 2008 in the greater Queen Anne, Magnolia, Ballard, and Greenlake areas continues to be off by close to 1/3 as compared to January 2007, but homes are continuing to appreciate!

The average home sold for 6% more and the median home sold for 4% more than in January 2007. Homes that were priced right continued to sell well. The 40 homes that sold within the first 30 days of the listing date were purchased for just under 100% of the listing price (% sp/lp). While the 25 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.

It's possible to speculate that the real estate market may have bottomed out in October of 2007. In the coming months we'll know. Typically home sales increase after the holidays. I expect things to pick up in the spring and summer and then cool back off next fall and winter.

This winter is a great time to buy. The real estate market is unlikely to crash in Seattle as it has in other areas of the country. The economy is good, job growth is good, and experts estimate 135,000 more people to move to Seattle in the next 5 years.

Louis Anderson at the Ballard Art Walk February 2008

I'll be hosting artist Louis Anderson at the next Ballard Art Walk. It is on Saturday the 9th of February from 6 to 9 PM at the FORUM CENTER. To preview the show go to: http://www.andrewlparker.com/artwalk.htm

Big Climb for Leukemia

Join my Team!!!

I'm putting together a team to do the Big Climb for Leukemia which is on Sunday March 16th. This is the 4th year RE/MAX Mutual Realty and I have been involved and to date we have raised over $6,000!

It is a New Year and this event is a great reason to get out and exercise. If you are interested click the link below. It only costs $35.00 and there is no minimum fundraising required.
http://www.active.com/register/index.cfm?event_id=1469165&subevent_id=891704&team_id=441718

Team membership is not limited to those who work at RE/MAX.

For more information on the Big Climb go to: http://www.bigclimb.org/

Thanks,
-Andrew

Seattle Real Estate Market Review

The number of home sales for December 2007 in the greater Queen Anne, Magnolia, Ballard, and Greenlake areas was off by close to 1/3 as compared to December 2006, but homes are continuing to appreciate!

The average home sold for 11.5% more and the median home sold for 2.5% more than in November of 2006. Homes that were priced right continued to sell well. The 63 homes that sold within the first 30 days of the listing date were purchased for just over 99% of the listing price (% sp/lp). While the 45 homes that sold between 31 to 60 days were purchased for approximately 96.5% (% sp/lp). A note to sellers: choose an agent who will price your home right. It will save you time and money.

It's possible to speculate that the real estate market may have bottomed out in October of 2007. In the coming months we'll know. Typically home sales increase after the holidays. I expect things to pick up in the spring and summer and then cool back off next fall and winter.

This winter is a great time to buy. The real estate market is unlikely to crash in Seattle as it has in other areas of the country. The economy is good, job growth is good, and experts estimate 135,000 more people to move to Seattle in the next 5 years.

Seattle Real Estate Market Review

November 2007 turned out better than expected for the greater Queen Anne, Magnolia, Ballard, and Greenlake areas. The number of homes sold is still down by close to 1/3 as compared to November 2006, but homes are appreciating.

The average home sold for 5% more and the median home sold for 4% more than in November of 2006. Homes that were priced right continued to sell well. The 65 homes that sold within the first 30 days of the listing date were purchased for just under 100% of the listing price (% sp/lp). While the 44 homes that sold between 31 to 60 days were purchased for just over 97% (% sp/lp).

A note to sellers, choose an agent who will price your home right. It will save you time and money.

A side note I've been tracking the last few months is the fact that there is a dramatic increase in listings that have not sold but have been taken off the market (i.e. expired, cancelled, temp. taken off the market) in central and north Seattle. Comparing November of 2007 to 2006 the number of homes that have been taken off the market is up by over 100%. Many sellers who do not need to sell are either renting or staying put. If these sellers were in a different position and had to sell now the market would look much different.

The Seattle Times ran a story today looking at the King County real estate market titled "Home prices slip to '06 level." The title speaks for itself. The current market is one that has not been scene for sometime. It is a buyers market in which sellers are making concessions.

Comparing October to November of this year, October was the slower month. One may wonder if October was the bottom of the current slow down. It is hard to say, but the answer to that questions will come in the months ahead.

With the holidays upon us the market will remain soft for the rest of the year and into next year. Things should pick up in the spring and summer of 2008. This winter is a great time to buy. The real estate market is unlikely to crash in Seattle like other areas of the country. The economy is good, job growth is good, and experts estimate 135,000 more people to move to Seattle in the next 5 years.

Work For Food!

Believe it or not I've decided to “work for food” in 2008. I plan to donate a portion of my personal real estate commissions to support local food banks and soup kitchens in an effort to raise $15,000.

I got the idea after driving to my mother’s home for Thanksgiving. While stopped at a light I saw a woman with a sign that read “Anything Helps.” This is a common sight but it prompt me to act.

My normal reaction to this situation is to act as though the homeless person is not there. If I can, I block my view so I don’t make eye contact. I then sit there feeling uncomfortable waiting for the light to change wishing I knew of a way to help, other than by giving them my spare change.

I’ve been acting out this same scene for years, but I’ve decided to do something about it in 2008.

There are over 8,000 homeless people living in Seattle. I intend to support two non-profits that are close to my office in Ballard, the Ballard Food Bank and the Phinney Neighborhood Association’s (PNA) Soup Kitchen.

The Ballard Food Bank’s mission is to assist individuals and families in maintaining self-sufficiency by providing assistance for basic needs. “We distribute food, clothing and personal hygiene items. In addition, we also have a meal program that provides three hot lunches a week, and we hold mail for those with no permanent address. These services are offered to Ballard, Queen Anne and Magnolia families who are having trouble making ends meet,” says Executive Director Nancy McKinney. “The majority of our income comes from private donations.”

According to Ann Bowden, Development Director of the PNA, “Our soup kitchen serves three meals a week, two lunches and one dinner. We feed 200-250 homeless, low income, elderly and disabled people each week or more than 22,000 each year.” The PNA partners with two churches, St. John United Lutheran on Phinney Ridge and Calvary Lutheran in Ballard. Much of the food comes from Northwest Harvest and Food Lifeline. The soup kitchen requires one staff person and 5 to 6 volunteers to run and is a substantial expense to the PNA’s budget each year.

In a final gesture of goodwill, I will make the donations in the name of my clients. Even though the money will come from my personal proceeds, I’d like my clients to feel part of the giving experience.

For more information I can be contacted at 206-930-8238, info@AndrewLParker.com, or http://www.andrewlparker.com/ .

For more information on the Ballard Food Bank or the PNA visit http://www.ballardfoodbank.org/ and http://www.phinneycenter.org/ .

Are buyer's agents needed?

Buyers surfing the internet and visiting open houses occasionally find the home of their dreams on their own. When this happens are they better off to enter a contract with the seller using the Listing Agent or contacting a Buyer’s Agent?

When securing the listing the Listing Agent signs a contract with the seller and agrees to sell their home for the most money with the best terms. A Buyer’s Agent, on the other hand, agrees to represent the buyer and help them buy a home for the least money with the best terms.

Purchasing real estate is a complex and major transaction with many details to be handled. A Buyer’s Agent will help structure an appropriate offer and negotiate the terms that are in the buyer’s best interests, which is a service that is truly a good value.

Seattle Housing Market Prediction

I read the news article (see link below) and thought I’d pass it on to you. It outlines three experts’ predictions of the future housing market for Seattle WA. To summarize, Fortune Magazine predicts that home prices will fall 19.5% in the next five years, Forbes Magazine says homes prices will rise just over 3% this year, and Moody’s Economy thinks there will be a slight drop from now until next summer when home prices will start to appreciate 14% through 2012.

Who’s right? It’s hard to say. Since we really can’t predict what the market will do, the important thing to keep in mind is that it is best to move when the timing is best for you. If you intend to buy and hold your home you should do fine because historically the value of real estate has always increased.

Our housing prices have national media guessing, Seattle PI http://seattlepi.nwsource.com/local/338733_economy08.html

Super Beer XX!!! The PNA's Annual Winter Beer Taste

Join me for Super Beer XX! This is the Phinney Neighborhood Association’s annual beer taste which will be taking place on November 10th starting at 7:30 PM. I’ll be volunteering for the event, and it would be great to share some excellent brews and a good time with you. For more information go to http://www.andrewlparker.com/bestbeertaste.htm .

By the way I won’t be participating in the Ballard Art Walk in November. See you in December

Seattle Real Estate Market Review

October 2007 was a down month as expected for the greater Queen Anne, Magnolia, Ballard, and Greenlake areas. The number of homes sold dropped by close to 1/3 with the average home sold for 2% less and the median home sold for 4% less than in October of 2006.

Homes that were priced right still sold right away. The 145 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 41 homes that sold between 31 to 60 days were purchased for just over 97% (% sp/lp). A difference of about 3%. A note to sellers, choose an agent who will price your home right. It will save you time and money.

A side point I noted in my last entry, is the fact that there is a dramatic increase in listings that have not sold but have been taken off the market (i.e. expired, cancelled, temp. taken off the market) in central and north Seattle. Comparing October of 2007 to 2006 the number of homes that have been taken off the market is up by 69%. I believe many sellers who do not need to sell are either renting or staying put. If these sellers were in a different position and had to sell now the market would look much different.

With the holidays right around the corner the market will remain soft for the rest of the year. To conclude I expect the market in 2008 to be similar to 2007. Things should pick up in the spring and summer of 2008. This winter is a great time to buy. The real estate market is unlikely to crash in Seattle like other areas of the country. The economy is good, job growth is good, and experts estimate 135,000 more people to move to Seattle in the next 5 years.

This posting was edited on November 7th due to mathematical errors.

Super Beer XX!

I'm on the Phinney Neighborhood Association (PNA) Beer Committee and it's time for the 20th annual winter beer Super Beer XX. It is on Saturday November 10th from 7:30 to 9:00 PM. Choose 10 samples to taste from over 20 Northwest micro-breweries who bring their new winter ales and other favorite beers to taste. Enjoy pub snacks provided by the PNA Beer Committee, blue grass music and a silent auction of beer paraphernalia.

Tickets are $25 for PNA members and $30 for the general public. Ticket sales are limited, so buy your tickets early.

View Confirmed Breweries List

For additional information, call (206) 783-2244 or email pna@phinneycenter.org.

Purchase Tickets Online

If you'd like to volunteer for this fun event and get free admission let me know!

TreeHouse Drop Site

I'm gathering new and gently used clothes for Treehouse a non-profit that supports foster kids at my office in Ballard. If you’ve been needing to clean out the kids closets, this is a good opportunity to donate to a great cause.

For more information about Treehouse go to http://www.treehouseforkids.org/index.htm .

To view their wish list go to http://www.treehouseforkids.org/pdf/Treehouse%20Wish%20List.pdf .

PSI Basic Seminar...Amazing!!!

I’ve just experience an amazing weekend! I spent the last four days involved with the PSI Basic seminar, and I feel it has significantly changed my life. I’ve learned many new tools to help me grow both professionally and personally and am already seeing things change in my life for the better. I have met a group of new friends who are committed to helping me grow in positive ways, I have learned to identify and change the thought processes which are counter-productive, and I have learned to take the problem-solving concept of “thinking outside of the box” to a new level.

I’m on cloud nine and looking forward to the future!!!

http://www.psiseminars.com/index.html

Seattle Real Estate Market Review

From July through the end of September homes have continued to appreciate in the greater Queen Anne, Magnolia, Ballard, and Greenlake areas. Although, the number of homes sold each month has consistently been much less this year in comparison to last year. For example, September of 2006 verses 2007 was off by 37%, but the average home appreciated 7% and the median home appreciated 8%, which is a respectable number.

In September homes that were priced right were being snatched up. The 95 homes that sold within the first 30 days of the listing date were purchased for 100% of the listing price (% sp/lp). While the 32 homes that sold between 31 to 60 days were purchased for 97.54% (% sp/lp). A difference of about 2.5%.

To date the month of October is chilly. Comparing 2007 to 2006 the number of homes sold is down 50% and the average home has sold for 1% less and the median home sold for 4% less. I expect this trend to continue for the rest of the year.

An interesting side point, in the last 6 months the number of listings that have not sold (i.e. expired, cancelled, temp. taken off the market) has increased by 21% from the same time period last year. I believe many sellers who do not need to sell are either renting or staying put.

To conclude it's a great time to buy! The real estate market in Seattle is unlikely to crash like elsewhere. The economy is good, job growth is good, and experts estimate 135,000 more people to move to Seattle in the next 5 years.

Slow Real Estate Market

Andrew in a slow real estate market. :)

Seattle Real Estate Market

Seattle, Washington has been getting some good press over the last month. In September Reuters.com did an article titled "No Housing Woes in Booming Washington State" which said, “Seattle...is an especially hot job market boosting confidence of sustained growth.”

Earlier this month, Forbes.com in their article “America’s Most Stable Housing Markets” lists Seattle at the top of the list. Saying, “The Emerald City has experienced strong price appreciation over the last six quarters, and that's expected to continue in the new year, though at a slower pace.”

The real estate market has slowed and with the holiday season around the corner it is expected to continue the trend. If you are a buyer it is a good time to get into the market before things pick up next year.