Tag Archives: Seattle

This weekend: 2013 National Association of Realtors Open House Weekend

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No Date Door Web AdSaturday, April 20th, and Sunday, April 21st, is the 2013 National Association of REALTORS Open House weekend. Windermere Real Estate/Mercer Island agents will be participating, along with REALTORS® all across the nation.

Potential home buyers rely on open houses to help them find the home of their dreams. During National Open House weekend, buyers can have a greater chance of doing just that. ~National Association of REALTORS®

Please enjoy a sneak peek of our office listings scheduled to be open over the weekend.

In case you are interested in attending an open house, here are the details about each Windermere Real Estate/Mercer Island listing being held open for this event. The details for each home are listed by city, and include the date and time of the open house.

Mercer Island

$695,000 l 3045 68th Ave SE l Nancy LaVallee | Sunday, 4/21, 1-4PM

$749,000 l 7627 SE 22nd St l Doug McKiernan | Sunday, 4/21, 1-4PM

$1,449,000 l 9252 SE 46th St l Jay Agoado | Sunday, 4/21, 1-4PM (hosted by Kristopher Herrell)

$1,575,000 l 7850 SE 62nd St l Erin Ewing | Sunday, 4/21, 1-4PM

$1,598,000 l 7900 Northbrook Lane l Bonnie Sanborn | Sunday, 4/21, 1-4PM (hosted by Kathryn Lerner)

$2,280,000 l 7270 W Mercer Way l Cherrie Lee | Saturday, 4/20, 1-3PM & Sunday, 4/21, 1-3PM

Kirkland
$825,000 l 215 Sixth St S l Denise Coe l Saturday, 4/20, 1-4PM & Sunday 4/21, 1-4 PM

Seattle
$860,000 l 2721 Warren Ave N l Bonnie Sanborn l Sunday, 4/21, 1-4PM (hosted by Nicole Demers-Changelo)

$950,000 l 2040 43rd Ave E #510 l Nancy LaVallee & Kathryn Lerner l Saturday, 4/20, 1-4PM

If you would like more information about all the open houses scheduled on Mercer Island for 2013 National Association of REALTORS® Open House weekend please click here. Both Windermere listings, and those from other island offices, are included to give you a comprehensive view of the Mercer Island open houses for this weekend’s event.

Should I Wait to Move Up?

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While only you can decide when it’s the right time to purchase a new home for your family, there are some compelling reasons to consider a move now rather than later…

Did you know that sellers moving up to a more expensive home actually fare better when prices are low?  As you can see in the chart below, even move-up sellers who bought in the peak of the market will come out ahead.  This is because the money you save on your more expensive home will outweigh the loss of value on your current home.

While waiting may increase the value of your current home, it will also increase the purchase price of your new home.  According to the latest S&P/Case-Shiller Home Prices Indices–the leading measure of US home prices–prices are already up 7.4% year-over-year in the Seattle Metropolitan area.  If you’re moving up to a more expensive home, this means you’ll actually have less net gain by waiting to sell and purchase your new home.

Rising interest rates will also have a direct impact on your bottom line. Our current 3.4% interest rate represents a phenomenal low. How low? Buyers now actually pay less monthly interest on a median-priced $856,000 house on Mercer Island today than they did on a median-priced $458,125 house back in 1998. Considering wage increases since then, that’s pretty incredible!  However, rates have started slowly creeping up since December and are expected to rise to 4.4% by the end of the year. Even this small change can mean a huge difference in both your monthly mortgage payment and the loan amount you can can qualify for…

A shortage of homes for sale in the current market means less competition for sellers. Right now, there are less homes for sale in the Seattle-Eastside area than we’ve seen in the past 15 years (as long as we’ve been keeping record!). While that might make it harder to find the right home to purchase, it will also reduce the time it takes to sell your current home. Buyers are quickly snapping up homes as they become available, and we’re even seeing multiple offers on homes that are strategically priced and well-prepared for market. Selling your house faster will minimize the typical household disruptions–such as showings and open houses–that you would typically have to contend with during a slower market.

*1: Projected increase based on current 7.4% year-over-price gains for the Seattle area as shown in the S&P/Case-Shiller Home Price Indices.

*2: Projected average 30-year fixed mortgage interest rate in Q4 2013 based on the Mortgage Bankers Association predictions.

Sources:

S&P Dow Jones Indices Press Release, January 29th, 2013

keepingcurrentmatters.com

© Copyright 2013, Windermere Real Estate/Mercer Island.

Northwest Flower and Garden Show: The Silver Screen Takes Root

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20130221-091717.jpg I wanted to take a moment to post from the Northwest Flower and Garden Show. This year’s show theme is “Gardens Go Hollywood.” It’s appropriate the welcoming garden for a show in the Emerald City would feature the The Wizard of Oz. Stay tuned for more photos from the show!

2012 Year in Review

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Drum roll please…..

The 2012 Year in Review Reports for Mercer Island, Seattle and the Eastside are now available to preview! To read the full synopsis for each market, please click here. These Reviews contain some pretty positive news regarding each market. Brisk sales were reported across the board, despite the record low inventories in all three markets. We hope you find the information contained within these reports valuable and helpful as you examine our region’s housing market.

Annual Reports:

Click to view year-end real estate reviews for Mercer Island, Seattle and The Eastside.

P.S. The Mercer Island Patch did a nice write up about Windermere Real Estate / Mercer Island’s Year in Review for the island. Thank you!

Good News in the Mercer Island Housing Market

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Hot off the press! Our second quarter reports are out for Mercer Island, the Eastside and Seattle…for homeowners who have been beaten down by bad news over the past few years, these numbers should come as a breath of fresh air!

Mercer Island

Mercer Island enjoyed healthy sales activity during the second quarter of 2012, with both the number of sales and average sales prices showing gains over last quarter.  Condominiums saw the strongest surge, with sales up 100% over last year.  We are continuing to see a low supply of homes for sale combined with increased buyer demand, with homes selling twice as fast on average as we saw last quarter.  With interest rates currently at new all-time lows, buyer demand is expected to remain strong and keep prices stable even as banks continue to sell off their inventory of distressed properties.

Click here for the full report and neighborhood-by-neighborhood statistics.

Full Mercer Island Report

The Eastside

The Eastside housing market fared well in the second quarter of 2012 with a healthy 21% boost in home sales compared to this time last year.  While average prices were down slightly from last year, both condo and home prices posted increases over last quarter.

Our record-low interest rates and continued buyer demand are expected to keep home values stable and overcome the downward price pressure we’ve seen from foreclosures and short sales.

Click here for the full report and area-by-area statistics.

Seattle

The Seattle housing market showed strong momentum in the second quarter of 2012, with the number of single-family home sales up 13.6% from this time last year. Condo sales also saw a huge 32% boost in sales compared to Q2 of 2011. Prices remained stable and even increased modestly compared to last quarter.

We are continuing to see a low supply of homes for sale combined with increased buyer demand. With interest rates currently at new all-time lows, buyer demand is expected to remain strong and keep prices stable even as banks continue to sell off their inventory of distressed properties.

Click here for the full report and neighborhood-by-neighborhood statistics.

Full Seattle Report

I-90 Closures for the Blue Angels

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Seafair Weekend is almost here, and the Blue Angels are returning again for thrilling aeronautic displays over Lake Washington!

Catch the full show Friday, August 3rd, Saturday August 4th and Sunday, August 5th from 1:30-2:30 pm.

Because the FAA requires the I-90 bridge to be closed to all vehicle, pedestrian and cycling traffic during all Blue Angels practices and shows, the I-90 bridge will be closed between Island Crest Way on Mercer Island and I-5 in Seattle during the following times:

- Thursday, August 2nd: Closed 9:45am-12 pm and 1:15pm-2:30pm

-Friday, August 3rd: Closed 12:45pm-2:40 pm

-Saturday, August 4th: Closed 12:45pm-2:40 pm

-Sunday, August 5th: Closed 12:45pm-2:40 pm

Find more info at wsdot.wa.gov or seafair.com

Happy 4th of July! Local Fireworks Shows

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All of us at Windermere R.E. / Mercer Island hope you have a fun, safe and relaxing 4th of July holiday. Here’s information on some local Seattle Metro / Eastside firework displays* which will go off with a bang tomorrow evening!

Seattle
Family 4th at Lake Union (will also be broacast on TV)
Gas Works Park

Bellevue
Bellevue Family Fourth
Bellevue Downtown Park

Newcastle
Old Fashioned 4th of July
Lake Boren Park, 13010 SE 84th Way

Sammamish
Fourth on the Plateau
Sammamish Commons Park

Renton
Fabulous Fourth of July
Gene Coulon Memorial Beach Park

Mercer Island’s fireworks display will coincide with Summer Celebration. The show will be at Luther Burbank Park Saturday, July 14th, at approximately 10 pm. Volunteers distributed flags through out the Downtown neighborhood. Did they decorate your island neighborhood, too? Please share the locations in the comment section.

*Fireworks Display Information Courtesy of Cori Nickerson, Fidelity National Title

Father’s Day, Pacific Northwest Style

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Sunday, June 17th, is quickly approaching. What are you going to get Dad for Father’s Day? I can tell you one thing, the man has enough ties! Instead of giving him the time tarnished stand-byes — ties, new BBQ tools, golf balls — Dad might really enjoy something that reflects his interests and is distinctly Pacific Northwest.

Experiences

If Dad’s favorite tv shows are any of the Star Trek series and/or Big Bang Theory, he would love to attend one of the evenings left in the Science Luminaries Series which still have available tickets. Space is Friday night on June 22nd, and will occur at the Space Gallery at Seattle’s Museum of Flight. Featured guests for Space include astronauts Dr. Bonnie Dunbar and Dr. George ‘Pinky’ Nelson, plus Mr. Mark Sirangelo of Sierra Nevada Corporation. On Friday, June 29th, Gaming will at Benaroya Recital Hall. Attendees will be treated to a performance by Seattle Symphony of songs from The Matrix. Featured guests will include “inventors and developers of the most popular and successful computer games.”

If spending time in the great outdoors is something your father really loves, take him on a 3 hour guided canoe tour through the Mercer Slough. Tours are every Saturday and Sunday May to September, 8:45 am to 12:00 pm. Equipment is provided, and each tour begins with a basic safety talk before heading out in the canoes. If you and Dad aren’t tired after canoeing, you could spend some time exploring the trails around the Mercer Slough Nature Park — in July and August, blueberries are available to pick at the Blueberry Farm in the park.

“For those about to rock, we salute you!” Does that sounds more like your Dad? He might really enjoy spending the day with you at EMP, touring the museum and seeing the AC/DC: Australia’s Family Jewels special exhibit. If flannel shirts and listening to “The Man Who Sold the World,” fits Dad’s musical stylings better, EMP is also currently showing the exhibit, Nirvana: Taking Punk to the Masses.

Noshing

Microbrew connoisseurs are as plentiful as coffee aficionados in these parts. Tap House Grill has 160 brews on tap (the largest selection of draft beers in the NW!), a location in both Seattle and Bellevue, plus a menu of NW-inspired entrees that range from steak to sushi. And, they offer gift cards! Or you could help Dad work his way through the local breweries listed in the Northwest Beer Guide (pppsssttt: Two Beers Brewery is hosting Food Truck Fridays throughout the summer months).

Best pizza in Seattle? Well, that’s a difficult question to answer– it depends on what Dad likes. Would he enjoy a cool, Neapolitan experience culminating with a pie baked in a woodfired pizza oven, brought to Seattle from Naples, Italy? Then Via Tribunali is the place to take Pops. Maybe your Dad likes to try new things, even when it comes to pizza. Bring home a pie from Zaw (there’s a Zaw storefront on Mercer Island!), pop it in the oven to cook while you decide if you want to watch a movie or play a board game while you chow down on some de-lious pizza! And you know you can’t go wrong with taking the family to Pagliacci – they offer pizzas from traditional to daring, and with locations around Seattle and the Eastside you won’t be too far from one. If you’re in the Tacoma area, Cloverleaf Pizza is amazing!

Space Needle Is 50 Years Old

Is Dad a Space Needle fan? To celebrate Father’s Day and the 50th Anniversary, take him up to the observation deck to marvel at the 360 degree view.

There’s also some kitschy items out there for Space Needle fans. LEGO has an architectural kit of the Space Needle available for purchase. Pick one up and spend the afternoon putting it together with him. Or does your father participate in Red, White and Dead every year? If his passion for anything zombie matches his interest in the Space Needle, Archie McPhee has the perfect gift for Dad: Moonlight Zombie Oil Painting. A zombie portrait with the Space Needle in the background is quite the find!

No matter what you plan for Dad on Father’s Day, the gift of your time is what he’ll appreciate most. With all the wonderful things to do throughout the Seattle Metro area, the biggest hurdle will be making a choice of what to go out and do with Dad. Happy Father’s Day to all the terrific Dads out there. Enjoy!!!

Finding Treasure in Your Yard

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Even though its last day was Sunday, the warm glow of the Northwest Flower and Garden Show (NWFGS) is still burning in my imagination. I have been thinking non-stop about all the unique outdoor spaces represented in this year’s display gardens, and how I could bring something to life in my own yard. As part of Generation X, I am definitely drawn to innovative ways to connect my home’s indoor spaces to the outdoors. Although, I don’t think the urge to harmonize your home’s interior with the surrounding yard is solely a Gen X thing— from the diversity of the attendees at NWFGS last week, I’d say gardening and outdoor spaces are on the minds of people of all ages.

In real estate, curb appeal is a well-known buzz word. However, in today’s market, telling a story with your yard, patios and decks is definitely compelling. This trend made Tara-Nicholle Nelson’s #2 spot for 5 things You Didn’t Know Could Get Your Home Sold. Thoughtful environments tickle our imagination. We can envision ourselves sipping coffee on our back deck, watch birds splash in the bird bath. Day dreams about  family time around the fire pit in back yard, roasting marshmallows, elicits a strong emotional reaction. Those psychological responses to staging in your yard, on patios and decks, might help buyers fall in love with your home and generate a successful sale.

However, saving landscape renovations for when you are going to list your home would be such a shame. Enjoying your yard now, with outdoor spaces that reflect your interests and personality, is such a rewarding experience. And with NWFGS being an annual Seattle event, local homeowners have a special opportunity to gather ideas, meet landscape designers and connect with garden supply vendors. As North America’s 2nd largest garden show, the caliber of garden and landscape professionals at NWFGS is definitely top-notch. The seminar schedule offers something that appeals to most gardeners and home owners. And the positive energy at the show is definitely contagious!

With  NWFGS being a February event, I’m reminded that because spring is near, now is a good time to start planning my latest  yard adventures.  The soil in Western Washington is usually damp and soft in February, which is helpful for weed management. Trimming up hedges and edging walkways will create a pretty framework for my yard. And, to be honest, the show gets me thinking about rain barrels. I spent a lot of time as the rain barrel booth this year!

The best take-away from this year’s NWFGS was the reminder that special places in your yard don’t need to be big.  My favorite points of interest in the display gardens were tiny spots, some almost hidden and ready to be discovered. Finding those little treasures, and thinking about how I could translate the idea in my backyard, gave me a lot of joy.

January 2012 Statistical Reports for Mercer Island, Seattle, Eastside and King County

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Absorption rate, the leading indicator of trending market activity, is up remarkably in January 2012. This tells us that of all of the homes available for sale, a larger and larger chuck are being sold (absorbed) by the buying public. With absorption rates this high, buyers will find themselves competing for the more-desirable homes on the market. The laws of supply and demand would indicate this is an ideal time for home sellers to come to market if they have a home they need to sell this year.

Footnote: The Mercer Island stats are very skewed by a significant number of lower end sales. This happens because with only 13 sales any few sales can create the appearance of a trend.

2012-01 Seattle Metro

2012-01 Mercer Island

2012-01 Eastside

2012-01 King County

2012-01 Summary