Eastside Real Estate Working-for-you!

The Eastside High End Homes -- Zero to slow.......

Sales for the high end homes in King County's Eastside have been zero to very little for the last seven weeks.

For the last 7 (seven) weeks:

Area 500, Bellevue and Issaquah south of I 90, shows that 3 homes sold between $1Mil and $1.5 Mil.  1 home sold between $2 mil and $2.5 mil.  There are 122 homes currently ACTIVE in Area 520 over $1,000,000.00.

Area 510, Mercer Island had 4 sales between $1Mil and $1.5Mil and 1 sale between $1.5Mil and $2Mil.  There are 92 homes currently ACTIVE in Area 510 over $1,000,000.00.

Area 520, West Bellevue had 10 homes sell between $1mil and $1.5Mil.  1 home sold between $1.5mil and $2mil and 1 home sold between $3mil and $5mil.  There are 193 homes currently ACTIVE in Area 520 above $1,000,000.00.

Area 530, East Bellevue had only 1 home sell between $1.5Mil and $2Mil.  There are 37 homes currently ACTIVE in Area 530 above $1,000,000.00.

Area 540 Sammamish Plateau had 5 homes sell between $1Mil and $1.5Mil.  1 home sold in the price range of $1.5Mil and $2Mil.  2 homes sold in the price range of $3Mil and $5Mil.  There are 153 homes currently ACTIVE in Area 540 above $1,000,000.00.

Area 550 Redmond shows 1 sale between $1Mil and $1.5Mil in the last 7 weeks.  There are 68 homes currently ACTIVE in area 550 above $1,000,000.00.

Area 560 Kirkland shows 6 sales between $1Mil and $1.5Mil.  There was 1 sale in the price range of $1.5Mil and $2Mil.  The price range between $3Mil and $5Mil had 1 sale.  There are 159 homes currently ACTIVE in Area 560 above $1,000,000.00.

Area 600, North Kirkland/Bothell/Woodinville had 0 (zero) homes sell in the last 7 weeks above $1,000.000.00.  There are 76 homes currently ACTIVE in Area 600 above $1,000,000.00

Other price ranges on the Eastside are fairing much better.  Inventory priced under $500,000 is moving fairly well  in Areas 500,530,540 and 600. 

Tracking Inventory Counts -- King and Snohomish County

By Greg Perry
www.425Realty.com

Here is an interesting quarterly snapshot of raw inventory counts for Residential and Condominium inventories for King and Snohomish Counties.  The charts include the 4 quarters of 2008 and where we were last week.

While King County is slightly above last year's inventory counts, at this time the rate of inventory growth has slowed, almost to a stop.  Snohomish County inventory levels have been below last years levels since the first of the year.

Remember, this is just one side of the equation.  These are raw inventory counts only and do not factor sold inventory and the actual rate of sale.

  

Information compiled from, but not published or verified by NWMLS

Monday's Inspiration -- What matters is how you finish.

'Nuff said.

It's time to look at your interest rate (again!)

Don't look now, but we're firmly in a mini refinance boom (seems like deja vu all over again).  Rates have been bouncing between 4.5% and 5%.  The markets are erratic and the rate bounces are happening quickly.  Every time the rates reach a low point, by the time most people hear about it ---it has passed.

If you have a an ARM loan or a loan that has an interest rate above 6%, you may want to consider refinancing your home. 

Meet with your mortgage professional and get your documentation and affairs in order, so that when the rates make a sudden drop, you can lock.  Keep in mind that banks have all experienced major lay offs and currently banks are taking anywhere from 5-20 days to underwrite a file!

One more thing........A wise friend many years ago gave me this advice.  He said pigs are cute, hogs get slaughtered.  When rates look good -- lock.  More people get hurt trying to eke out the best possible rate, than accepting a good, competitive rate.  Don't be too greedy.  If you can lock at 5% or under, go for it!

For future home buyers AND refi candidates:
Remember, inflation may be just around the corner.  Once the economy starts to recover, liquidity will need to be taken out of the markets.  The Fed may need to rapidly hike interest rates to control potential inflation.  These low rates may not last long.

The "Drop" on Flood Insurance

Many people do not know flood insurance is available.  I have a client who asked their hazard carrier for flood insurance only to be told it doesn't exist.

Flood insurance IS available from the Federal Emergency Management Agency (FEMA).  Many local insurance agencies can assist homeowners and businesses to obtain a FEMA policy.

In King County, a typical policy will cost $590.00 annually.  Different areas may cost more or less depending upon the flood risk.

To learn more about FEMA flood insurance, visit: www.fema.gov/hazard/flood/index.shtm

Monday's Inspiration: Goals

Here are a few gems from Jim Rohn:

Goals.  There's no telling what you can do when you get inspired by them.  There's no telling what you can do when you believe in them.  There's no telling what will happen when you act upon them.

The guy says, "When you work where I work, by the time you get home it's late.  You've got to have a bite to eat, watch a litte TV, relax, and get to bed.  You can't sit up half the night planning, planning, planning."  And he's the same guy who's behind on his car payment.

When the promise is clear, the price gets easy.

Winter is not over! Winterize your home before the next "suprise"!

I just got off the phone with a client whose pipes burst in the recent winter blast that nailed Seattle's Eastside communities and surrounding areas.  He, like many others (including myself) had been caught off guard, totally unprepared for the fury that old man winter delivered to us.  The conversation reminded me to take care of all the winterizing necessities during this mild break we are in.  Here is a list of 10 quick, inexpensive MUST DO's,  you can do to winterize before you get surprised by the next big storm! 

1) Call an HVAC professional to inspect your furnace! (this is no joke!  My in laws almost died from a carbon monoxide leak through the heat exchanger in the furnace.)

2)  Check and repair all the Smoke and Carbon Monoxide detectors in your house.

3)  Visually inspect your chimney and call a sweep if needed.  Check for creosote build up and mortar cracks.

4)  Inspect and replace if necessary window and door weather stripping.

5)  Make sure your pipes are wrapped and spigots insulated.  Also, now is a good time to make sure you know where your main water shut-off is located.

6) Get in your attic when its raining.  Check the underside of the sheathing for water marks or stains.  If found, get a roofer out to inspect and repair your roof.

7)  Inspect your crawl space.  Now that its been raining is the time to check.  If you have water build up get it removed and fixed. 

8)  Clean out your gutters and downspouts.  Water needs to drain out and away from your house.  Over flowing gutters will rot your fascia and other components of your home.

9)  Insulate your attic.  Visually inspect your attics roofing.  If it looks thin throw some insulation up there.

10)  Prepare and Emergency kit.  Check out 3 days 3 ways website.

Good luck and this time, be prepared!

Monday's Inspiration -- The power of HOPE

This has been around for awhile.  It affects me every time I see it. 

Flood Ravaged! Woodinville Duvall Road

A collegue emailed this photo of Woodinville /Duvall Road.  She reports that it will take 4 days for King County to repair this road for opening.  Other Duvall access are still under water......

Maltby Area Listing --Nicely Remodeled Rambler! $389,500

Greg Perry | Windermere Real Estate/NE | 425-829-7012 22213 Paradise Road, Snohomish, WA Beautifully Remodeled Rambler with detached 2 car garage/shop/bonus room 3BR/1.5BA Single Family House offered at $389,500 Year Built 1969 Sq Footage 2,123 Bedrooms 3 Bathrooms 1 full, 1 partial Floors 1 Parking Unspecified Lot Size 24,829 sqft HOA/Maint $0 per month DESCRIPTION This remodeled rambler is in a word, gorgeous! A HUGE u-shaped kitchen has a vaulted ceiling with twin skylights and large windows for natural lighting. The kitchen includes a stainless Viking gas cook-top. Other features include: Walk-in pantry, newly remodeled bathroom, solid fir doors, vaulted ceiling in remodeled living room, high efficiency fireplace, dining room, laundry room, deck, patio, 40 year comp roof, large detached garage with shop and bonus room. Recently painted inside and out! see additional photos below PROPERTY FEATURES Fireplace High/Vaulted ceiling Tile floor Family room Living room Bonus/Rec room Office/Den Dining room Dishwasher Refrigerator Stove/Oven Microwave Stainless steel appliances Attic Laundry area - inside Balcony, Deck, or Patio Yard OTHER SPECIAL FEATURES HUGE remodeled kitchen! Vaulted ceilings. Large, plentiful windows and skylights for natural lighting. Solid fir doors Walk-in pantry Newly remodeled bathroom 40 year comp roof. 2 car detached garage includes shop and finished bonus room. Entertainment deck and patio. RV parking. Recently painted inside and out. ADDITIONAL PHOTOS Seller contact info: Greg Perry Windermere Real Estate/NE 425-829-7012 For sale by agent/broker Equal Opportunity Housing Posted: Jan 3, 2009, 1:10pm PST