Lake Washington Homes

West-Facing Medina Waterfront Home Sells For $3 Million in February

Sam DeBord - Seattle Real Estate Broker — Tue, 06 Mar 2012 21:05:32 +0000

Medina’s sole waterfront home sale in February was a late 1960′s home near the tip of Evergreen Point. The 3,180 square foot home is small for Medina’s standards, but a fairly good-sized home in general with three bedrooms, three baths, and two floors. The majority of Medina waterfront homes are 4,000 square feet or larger.

The 118 feet of Lake Washington waterfront are the real value feature, with some of Medina’s most-sought after properties near this location. The home had been on the market for around 1.5 years.

Originally listed for $4.38 million in August of 2010, the home was reduced to $3.68 million in March of 2011 and then relisted at $3.495 million with a new real estate broker in August of last year. The final sale price represents a 14% discount on the final list price, or a 32% reduction from the time it was originally listed.

Medina Waterfront Homes Sold, February 2012

3516 Evergreen Point Rd, Medina WA 98039

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Real Estate Record: All Time Low Inventory of New Homes For Sale

Sam DeBord - Seattle Real Estate Broker — Sat, 03 Mar 2012 00:49:02 +0000

The total number of new homes for sale in the U.S. hit its lowest point on record in January, creating a stronger seller’s market for home builders and rising new construction prices. The lack of construction for the past few years has created a dearth of available new homes in many parts of the country, and most undeveloped and partially-developed land sits stagnant as lending for new construction remains tight.

The inventory of new homes fell to a 5.6 month supply. At the same time, new home prices increased by 0.3% and new home sales rose 3.5%, as compared to the previous year at this time. While new households have been created at a consistent rate during the past five years, there has been little construction to compensate, and the market is likely to continue tightening in terms of inventory and rising in terms of prices.

From Realtor Magazine:

“Inventory of new homes on the market shrank to its lowest point on record in January, marking a 5.6-month supply at the current sales pace, the Commerce Department reports.

With fewer homes available, the price of new homes increased slightly last month. The median price for a new home ticked up slightly at 0.3 percent to $217,100, which is the highest level since October.

However, January sales of single-family homes mostly stayed falt in January, falling less than 1 percent last month compared to the previous month. New-home sales reached a seasonally adjusted annual pace of 321,000 units.

New-home sales were up 3.5 percent compared to the same time last year, the Commerce Department reported.

“This is indicative of the incremental, steady progress that the market is making toward recovery in conjunction with modest economic and job growth,” said David Crowe, the National Association of Home Builders’ chief economist. “Increasingly, potential buyers are feeling better about their financial situation and their ability to buy a home, but the challenges posed by tight credit conditions and appraisal issues continue to slow that process.”

Regionally, the Midwest saw the biggest decline in new home sales in January, a 24.5 percent drop in sales followed by a 10.6 percent drop in sales in the West. On the other hand, the Northeast posted an 11.1 percent gain in new home sales in January, and the South saw a 9.3 percent increase.“

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Sam DeBord - Realtor® | Managing Broker | SeattleHome.com | Coldwell Banker Danforth

2011 Award Recipient: Coldwell Banker Residential Real Estate Sales

ph: 206-658-3225 | email: Sam(at)SeattleHome.com
Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Bellevue Waterfront Homes: $1.55 Million Newport Shores Real Estate Sold

Sam DeBord - Seattle Real Estate Broker — Wed, 22 Feb 2012 00:24:56 +0000

The first sale of Bellevue waterfront homes in 2012 was a stately home in the very popular Newport Shores neighborhood. At $1.55 million, this home is a fine example of one of the many different styles of waterfront homes available on the Eastside.

Newport Shores has most of its waterfront homes situated on the inner man-made canals of the neighborhood, allowing for very long, easily-accessible, bulkheaded water frontage. This particular home sits on a 19,200 square foot lot with 110 feet of waterfront. At four beds and 3.5 baths, this two story home has a classic, colonial look with a three car garage and 3,170 square feet over two stories.

The home was on the market for just one month, listed at $1.675 million originally. The final sale price of $1.55 million represented a 7.5% reduction in price.

Bellevue waterfront homes sold, January 2012

MLS Listing: 63 Cascade Key, Bellevue WA 98006

Tomorrow: Kirkland waterfront sales in January

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Capital Economics: Housing Crisis to End in 2012, Banks Loosening Real

Sam DeBord - Seattle Real Estate Broker — Thu, 09 Feb 2012 18:03:56 +0000

In a report by Capital Economics this week, the group predicts an end to the housing crisis in the coming year. The big reason: Loosening of credit standards for home buyers by banking instituations.

The report sees banks lending to a larger group of potential home buyers in 2012. Loan-to-value ratios have been increasing on average loans (74% to 82%) and borrower income standards have dropped as well. Banks are lending at 3.5 times the borrower’s annual income, up from 3.2 times in previous years.

While we certainly don’t want to go back to the shoddy/non-existent lending standards of the real estate boom, there was a serious overcorrection in the market after the bust. These changes in the market are reasonable adjustments and are good news for the real estate market as a whole.

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Rents To Rise in 2012; In 74% of U.S., Renting More Expensive Than Owning

Sam DeBord - Seattle Real Estate Broker — Tue, 07 Feb 2012 20:46:16 +0000

Rent prices for housing and office space are expected to rise in 2012, as demand remains high. The lack of building of residential and commercial spaces in the past five years is beginning to put a strain on available space.

Seattle residents know the various “holes in the ground” around the city that were slated at one point to be new condo and apartment buildings. While many of those projects have been shuttered, some have been built up with other uses. In general, the availability of rental properties has continued to shrink yearly since the peak of the Seattle real estate market in the summer of 2007.

At the same time, home affordability will likely encourage many who feel squeezed-out by competition and out-priced to look into buying Seattle homes.

From Realtor Magazine: According to the consumer price index, rents have risent 2.5% in one year, while home prices in most of the country have dropped. According to Trulia, in 74 percent of U.S. cities, owning a home is more affordable than renting.

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Redmond Waterfront Home Sales Up 9.7%: Continuing Rise in Waterfront Real

Sam DeBord - Seattle Real Estate Broker — Fri, 03 Feb 2012 00:28:27 +0000

Redmond’s waterfront home sales are marching in tune with the rising tide of waterfront real estate sales around the Puget Sound. Sales of waterfront homes in 2011 were up 9.7% compared to the previous year.

Of the 34 homes sold in Redmond in 2011, most were moderately price waterfront homes. A small portion of Redmond’s southern shoreline on Lake Sammamish usually encompasses the highest-priced homes, and this year was no exception. The top sale in Redmond was a waterfront home on W Lake Sammamish Pkwy, closing at $2,500,000. The NWMLS includes waterfront homes on lakes, rivers, Sound, and many other bodies of water within the waterfront homes calculations.

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Sammamish Waterfront Homes: 2011 Soars to 68% Increase in Sammamish

Sam DeBord - Seattle Real Estate Broker — Thu, 02 Feb 2012 23:59:32 +0000

Sales on Sammamish’s waterfront in 2011 were just another notch in the belt of Greater Seattle’s waterfront resurgence. Homes sold on Sammish’s lakefront properties increased from 19 in 2010 to 32 in 2011, one of the most-significant increases in the Puget Sound region.

In particular, sales of more-affordable Sammamish waterfront homes were up significantly. The total increase of 58% was bolstered by 32 waterfront sales under $1 million, up from just 19 in 2010. Million dollar-plus sales, at the same time, stood at 15, up from 12 in the previous year. Overall, while prices were down somewhat, the strengthening sales should create further support for the market and prices in general going in to 2012.

Sammamish Waterfront Homes Sold, 2011

1831 225th Place NE	Sammamish	$370,000
22424 SE 20th St	Sammamish	$445,000
2019 207th Ave SE	Sammamish	$476,000
22523 SE 20th St	Sammamish	$510,000
20413 NE 7th Ct	Sammamish	$600,000
4291 E Lake Sammamish Shore Lane SE	Sammamish	$718,000
4291 E Lake Sammamish Shore Lane SE	Sammamish	$718,000
4007 E Lake Sammamish Shore Lane SE	Sammamish	$725,000
4261 E Lake Sammamish Shore Lane SE	Sammamish	$750,000
2224 E Lake Sammamish Place SE	Sammamish	$757,500
241 E Lake Sammamish Shore Lane NE	Sammamish	$790,000
2317 E Lake Sammamish Place SE	Sammamish	$797,300
2922 222nd Place SE	Sammamish	$835,000
1021 250th Ave NE	Sammamish	$860,000
2219 E Beaver Lake Dr SE	Sammamish	$875,000
2955 224th Place SE	Sammamish	$895,000
2010 W Beaver Lake Dr SE	Sammamish	$990,000
25408 SE 28th St	Sammamish	$1,120,000
667 East Lake Sammamish Pkwy NE	Sammamish	$1,200,000
1333 E Lake Sammamish Shore Lane S	Sammamish	$1,240,000
1203 E Lk Sammamish Shore Lane SE	Sammamish	$1,285,000
1419 E Lake Sammammish Shore Lane SE	Sammamish	$1,500,000
1429 E Lake Sammamish Shore Lane SE	Sammamish	$1,595,000
605 E Lake Sammamish Lane NE	Sammamish	$1,600,000
2211 E Beaver Lake Dr SE	Sammamish	$1,600,000
4245 206th Ave SE	Sammamish	$1,677,000
109 E Lake Sammamish Shore Lane NE	Sammamish	$1,775,000
4215 E Lake Sammamish Shore Lane SE	Sammamish	$1,781,500
3015 E Lake Sammamish Pkwy SE	Sammamish	$1,850,000
22007 SE 21st Place	Sammamish	$2,400,000
1913 E Lake Sammamish Place SE	Sammamish	$2,800,000
425 East Lake Sammamish Shore Lane NE	Sammamish	$2,900,000

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Mercer Island Waterfront Homes Continue Strong 2-Year Trend: Average

Sam DeBord - Seattle Real Estate Broker — Thu, 02 Feb 2012 23:17:07 +0000

Sales of waterfront homes on Mercer Island were some of the first to come back after the doldrums of 2008 and 2009. Following an anemic year of just 11 waterfront home sales in 2009, the sales totals have nearly tripled in the past two years.

While 2011′s sales of 30 Mercer island waterfront homes was a 6.25% drop compared to the 32 sales in 2010, to say this was a disappointment would be incorrect. 2010 was a banner year for Mercer Island, considering the current economic and real estate landscape. Waterfront sales here were at standout levels compared to the greater market. The fact that waterfront home sales in 2011 continued to keep pace with the blockbuster 2010 sales is another testament to the staying power of waterfront homes values in Mercer Island.

Of the 30 waterfront homes sold in Mercer Island last year, 25 were priced over $1 million and 18 were multi-million dollar homes. The NWMLS labels homes in the center of Mercer Island on man-made lakes as “waterfront”, and these homes are the lowest-priced sales in the $800k-$900k range. Most homes that are actually on Lake Washington waterfront are priced significantly over $ 1 million.

Mercer Island Waterfront Homes Sold, 2011

6827 96th Ave	Mercer Island	$850,000
2233 77th Ave SE	Mercer Island	$877,000
9805 SE 42nd Place	Mercer Island	$896,000
7730 80th Place SE	Mercer Island	$900,000
7710 80th Place SE	Mercer Island	$900,000
7330 80th Place SE	Mercer Island	$1,055,000
4610 E Mercer Wy	Mercer Island	$1,145,000
6226 E Mercer Wy	Mercer Island	$1,400,000
7550 E Mercer Wy SE	Mercer Island	$1,492,700
8440 Benotho Place SE	Mercer Island	$1,512,500
4456 Ferncroft Rd	Mercer Island	$1,550,000
8814 N Mercer Way	Mercer Island	$1,705,000
4625 Forest Ave SE	Mercer Island	$2,025,000
9815 SE 42nd Place	Mercer Island	$2,073,900
4612 E Mercer Wy	Mercer Island	$2,308,000
8048 Avalon Place	Mercer Island	$2,375,000
5404 96th Ave SE	Mercer Island	$2,405,000
7912 East Mercer Way	Mercer Island	$2,450,000
4056 E Mercer Wy	Mercer Island	$2,485,000
8030 SE 20th St	Mercer Island	$2,500,000
9825 SE 42nd Place	Mercer Island	$2,500,000
8232 Avalon Dr	Mercer Island	$2,730,000
8055 W Mercer Wy	Mercer Island	$2,780,000
7240 N Mercer Wy	Mercer Island	$3,000,000
9434 SE 33rd St	Mercer Island	$3,010,000
6236 E Mercer Wy	Mercer Island	$3,850,000
1630 72nd Ave SE	Mercer Island	$4,207,500
1640 72nd Ave SE	Mercer Island	$5,925,000
4270 Holly Lane	Mercer Island	$6,125,000
9740 SE 35th Place	Mercer Island	$6,750,000

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Medina Waterfront Homes Sell Big In 2011: 167% Jump For Waterfront Real

Sam DeBord - Seattle Real Estate Broker — Thu, 02 Feb 2012 22:44:24 +0000

Waterfront home sales in Medina nearly tripled in 2011, another sign that buyers are returning to the luxury real estate market. Sales of luxury and waterfront homes in Greater Seattle have been on the rise since the bottoming out of luxury sales in 2008 and 2009.

After just three Medina waterfront homes sold in 2010, that number jumped to eight in 2011. The multi-million dollar home sales in Medina were some of the highest-priced sales in the Puget Sound region, ranging from $1.8 million to $7.25 million.

Medina Waterfront Home Sales, 2011

8105 Overlake Drive W	Medina	$1,825,000
432 Overlake Dr E	Medina	$2,300,000
1651 73RD Ave NE	Medina	$2,500,000
3640 Evergreen Point Rd	Medina	$3,000,000
7944 NE 32nd St	Medina	$3,575,000
538 Overlake Dr E	Medina	$4,200,000
3645 Evergreen Point Rd	Medina	$4,500,000
3248 78th Place NE	Medina	$7,250,000

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Issaquah Waterfront Real Estate Sales Jump in 2011: 22%

Sam DeBord - Seattle Real Estate Broker — Tue, 31 Jan 2012 23:44:27 +0000

Sales of waterfront homes in Issaquah were up more than one fifth in 2011, signalling a strengthening of the market for Issaquah waterfront homes.

A total of 28 homes were sold on waterfront property in Issaquah in the past year, five more than in 2010. Also significantly up were the number of high-end, luxury waterfront homes.

Ten million-dollar-plus homes were sold in 2011, including four multi-million dollar waterfront homes. This was more than double the four million-dollar homes sold in 2010.

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service