Thursday, June 30, 2011

Case-Shiller: Home Prices Rise Over 3 Months, Analysts Discuss

Case-Shiller's widely-watched home price indices came through with their first positive pricing numbers this year, giving some hope that housing markets are stabilizing nationwide.  The 0.7% increase in home prices from March to April is actually based on a 3 month rolling average, which may actually signal that prices have been rising for longer than the one month measurement:
In what Standard & Poor's analysts described as a "welcome shift from recent months," the closely watched S&P/Case-Shiller index showed its strongest positive movement since June of last year with the release of Tuesday's report.
The 20-city composite reading posted a 0.7 percent increase in April versus March. The 10-city composite was up 0.8 percent. (Both figures reflect non-seasonally adjusted measurements, which S&P says is the more reliable indicator when evaluating its index results given current market conditions.)
...
As of April 2011, S&P says average home prices across the United States are back to the levels where they were in the summer of 2003. From the peak of June/July 2006, home prices are down 32 percent.
There are at least some buyers out there taking advantage of such affordability, as evidenced in the latest Case-Shiller numbers, according to Sue Woodard, president of content and publishing at Mortgage Success Source, which provides client acquisition and retention solutions to the mortgage lending industry.
"This report underscores that smart homebuyers are seeing the 'perfect storm' of opportunity and getting ahead of the curve," Woodard said.
"There has not been a time in recent history where we've had such an amazing combination of affordable home prices, low home loan rates, and motivated sellers," she added.
But Woodard cautions that this "perfect storm" isn't expected to last. She says those on the fence about buying a home should make their move while this opportunity is still at hand.
Current Listings:  Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned 

Sam DeBord - Realtor® | Managing Broker | SeattleHome.com | Coldwell Banker Danforth
Wiegand & DeBord - WD Estates | 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
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Tuesday, June 21, 2011

Summer Seattle Waterfront Listings Sizzle

It's summertime in Seattle, and the waterfront is the focal point of summer relaxation and celebration.  The waterfront real estate listings have been picking up significantly recently, with the best showing times of the year on the way. King County waterfront statistics:
In the last 30 days, 127 new listings of waterfront homes in King County have been added to the NWMLS.  Of those, 39 were listed for over $1,000,000 and 19 for over $2,000,000.
61 waterfront homes have gone pending in the last 30 days.  Of those, 17 were listed for over $1,000,000 and 10 for over $2,000,000.
48 waterfront homes have sold in the last 30 days.  Of those, 6 sold for over $1 million and 3 for over $2,000,000.
Current Listings:  Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned 

Sam DeBord - Realtor® | Managing Broker | SeattleHome.com | Coldwell Banker Danforth
Wiegand & DeBord - WD Estates | 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
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Thursday, June 16, 2011

Wall Street Journal: Why It's Time To Buy

The Wall Street Journal's recent report on the state of the real estate market makes the case that even with current economic conditions, there are enough positive factors in housing to make buying a good prospect.  Interest rates and affordable prices drive the conclusion:
"...there are growing indications that it is a good time to buy. Mortgage rates, which fell to 4.55% for the week ending June 2, according to Freddie Mac, are near 50-year lows. Homes have become more affordable than they have been in years: According to Moody's Analytics, the ratio of home prices to income is now 20.9% lower than the 15-year average through 2010, and 12.5% lower than the 1989-2004 average. A historic glut of homes, meanwhile, has created a buyer's market: There were about 15 million vacant homes in the U.S. last year, according to John Burns Real Estate ConsultingInc.-some 3.1 million more than normal.
Such conditions might not last long. Moody's Analytics predicts that the number of distressed sales will begin to fall in 2013, and that prices will begin to edge upward then. Home building is at a virtual standstill, so the supply overhang isn't likely to get much worse. Meanwhile, demographic indicators such as "household formation"-the number of new households each year-are on the rise, and promise to take a bite out of the glut in coming years.
The upshot: "While we might not see rapid growth in the next couple of years, there are a tremendous number of positive signs that could lead to a rebound," says Anthony Sanders, a real-estate finance professor at George Mason University."

Sam DeBord - Realtor® | Managing Broker | SeattleHome.com | Coldwell Banker Danforth
Wiegand & DeBord - WD Estates | 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.
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Friday, June 10, 2011

South Seattle Waterfront Homes: South Seattle Waterfront Real Estate Sales, YTD 2011

Four South Seattle waterfront homes have been sold so far in 2011.  Three of the homes are along Lake Washington waterfront on Rainier Ave S, while the fourth home was in Seward Park.
South Seattle Waterfront Home Sales, YTD 2011
Address City Price Beds Baths Sq Ft
10884 Rainier Ave S Seattle $945,000 4 1.75 2,524
9936 Rainier Ave S Seattle $600,000 3 1.75 2,160
9654 Rainier Ave S Seattle $825,000 3 3 2,620
7936 Seward Park Ave S #A Seattle $900,000 4 2.75 2,680
Current Listings:
Sam DeBord
Realtor® | Managing Broker
SeattleHome.com | Coldwell Banker Danforth
ph: 206-658-3225 | email: sam(at)SeattleHome.com
Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors
Source: Individually compiled NWMLS data. The NWMLS did not compile or publish this information.
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Lake Union Waterfront Homes & Houseboats: Real Estate Sales, YTD 2011

Nine Lake Union Waterfront Homes have been sold so far in 2011.  These include lower-priced houseboats on Westlake Ave, mid-priced floating homes on Eastlake and Westlake, and a traditional single family waterfront home on Portage Bay.
Lake Union Waterfront Home Sales, YTD 2011
Address City Price Beds Baths Sq Ft
3130 Portage Bay Place E #A Seattle $532,000 4 3 2,850
2017 Fairview Ave E #N Seattle $580,000 2 1.5 1,100
1203 E Hamlin St Seattle $1,200,000 4 3.5 2,550
2524 Westlake Ave N #Dock1 Seattle $115,000 2 0.75  
2420 Westlake Ave N #11 Seattle $530,000 1 1  
2466 Westlake Ave N #17 Seattle $850,000 2 1  
2401 N Northlake Wy #E1 Seattle $140,000 2 1 600
901 N Northlake Wy Seattle $255,000 1 1  
933 N Northlake Wy #14 Seattle $727,000 2 1.25  
Current Listings:
Sam DeBord
Realtor® | Managing Broker
SeattleHome.com | Coldwell Banker Danforth
ph: 206-658-3225 | email: sam(at)SeattleHome.com
Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors
Source: Individually compiled NWMLS data. The NWMLS did not compile or publish this information.
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West Seattle Waterfront Homes: Waterfront Real Estate Sales, YTD 2011

There have been two West Seattle waterfront homes sold so far in 2011.  A home on Beach Drive sold for $950,000 and a second home in Arroyo Beach sold for $1.24 million.  These higher-priced sales are good for keeping the luxury market moving along.
West Seattle Waterfront Homes Sold, YTD 2011
Address City Price Beds Baths Sq Ft
4163 Beach Dr SW #102 Seattle $950,000 2 2.5 2,300
11013 Arroyo Beach Place SW Seattle $1,240,000 3 2.25 2,495
Current Listings:
Sam DeBord
Realtor® | Managing Broker
SeattleHome.com | Coldwell Banker Danforth
ph: 206-658-3225 | email: sam(at)SeattleHome.com
Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors
Source: Individually compiled NWMLS data. The NWMLS did not compile or publish this information.
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Saturday, June 4, 2011

Bargain Sales Dominate Hunts Point, Yarrow Point Real Estate

Sales of homes in the affluent communities of Hunts Point and Yarrow Point have been anything but normal thusfar for 2011.  While most homes in these areas are multi-million dollar estate, many with Lake Washington waterfront shorelines, there are a handful of lower-priced homes.  These are usually a small slice of the actual sales numbers, but recently a larger-than-normal smattering of those sales have sprung up. 
Yarrow Point, Hunts Point
The reasons for the lower prices on these homes are usually apparent quickly--proximity to SR520, uncharacteristically small home, or some feature of lot that doesn't lend itself to these neighborhood's usual standard of space, privacy, and beautiful landscapes.  Even still, savvy investors purchasing these homes know that they inherit some of the best schools, neighbors, and city services available anywhere. 
More typical for this area, the top recent sale was a 5240 square foot waterfront homes in Yarrow Point, which sold for $2.626 million.
Hunts Point and Yarrow Point Recent Home Sales
MLS# Address City Price Beds Baths Sq Ft
213331 8014 NE 28 St Hunts Point $484,715 4 2.5 1760
179417 8806 Points Dr NE Yarrow Point $630,000 4 3.5 2460
76164 3001 Hunts Point Road Hunts Point $710,000 3 1.5 1700
113558 9050 NE 47th St Yarrow Point $718,000 3 0.75 770
123027 3926 95th Ave NE Yarrow Point $950,000 4 2.5 3533
172317 8581 Hunts Point Lane Hunts Point $1,600,000 3 2.5 3073
188802 4238 95th Ave NE Yarrow Point $2,625,985 4 3.25 5240
Current Listings:
Sam DeBord
Realtor® | Managing Broker
SeattleHome.com | Coldwell Banker Danforth
ph: 206-658-3225 | email: sam(at)SeattleHome.com
Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors
Source: Individually compiled NWMLS data. The NWMLS did not compile or publish this information.
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Friday, June 3, 2011

30 Seattle Waterfront Homes Open for Nationwide Open House Weekend

The National Association of Realtors has designated this weekend, June 4-5, as the National Open House weekend.  Thousands of homes will be held open in Washington State, including a large number of waterfront homes.
From the NWMLS, this is the current list from all local brokerages with public waterfront open houses scheduled in the greater Seattle area:
Waterfront Homes Open This Weekend:
MLS# Address   City  Price  Beds Baths Sq Ft
Bellevue Waterfront Homes
229899 2950 W. Lake Samm Blvd Bellevue $1,950,000  5 3.25 4,370
220232 17624 SE 40th Place Bellevue $1,999,950  4 4.75 3,971
118804 258 W Lake Samm Pkwy SE Bellevue $2,900,000  4 4 5,940
Burien Waterfront Homes     
216471 16935 Maplewild Ave SW Burien  $939,000  3 3 2,980
223372 1621 SW 152nd St Burien  $950,000  3 3.25 4,680
Hunts Point Waterfront Homes      
108474 3235 Hunts Point Rd Hunts Point $3,860,000  4 3.25 2,990
Issaquah Waterfront Homes      
183854 4315 E Lk Samm Pkwy 103 Issaquah $1,295,000  3 2.5 2,691
Kirkland Waterfront Homes      
224698 12719 Holmes Pt Dr NE Kirkland $1,135,000  3 1.5 2,120
223884 12959 Holmes Pt Dr NE Kirkland $2,000,000  4 3.5 3,810
217474 13245 Holmes Pt Dr NE Kirkland $4,500,000  5 5.5 10,260
Medina Waterfront Homes      
179595 601 Evergreen Point Rd Medina  $4,200,000  3 1.75 2,250
Mercer Island Waterfront Homes      
206501 8624 N Mercer Wy Mercer Island $1,988,000  5 4.75 6,390
213269 4602 E Mercer Wy Mercer Island $2,388,000  4 4 3,672
220646 4458 Ferncroft Rd Mercer Island $5,998,000  5 6.25 6,279
Redmond Waterfront Homes   
229752 6507 240th Wy NE Redmond  $1,275,000  4 4.25 6,690
Renton Waterfront Homes  
217461 3115 Mountain View Ave Renton  $1,700,000  4 2.5 4,000
193894 3009 Mountain View Ave Renton  $2,100,000  5 5.25 6,020
213049 6811 Ripley Lane N Renton  $1,598,000  4 3.25 2,740
212988 6811 Ripley Lane N Renton  $1,598,000  4 3.25 2,740
Sammamish Waterfront Homes      
185643 1831 225th Place NE Sammamish $374,950  3 2.25 1,470
206953 1203 E Lk Samm Shore Ln Sammamish $1,475,000  3 2.5 2,970
138628 22016 SE 28th St Sammamish $1,795,000  4 3.25 5,313
Seattle Waterfront Homes      
215089 3207 Point Place SW Seattle  $1,895,000  3 3.25 1,000
195511 2822 Boyer Ave E #1 Seattle  $649,000  1 1 
200203 2031 Fairview Ave E #B Seattle  $789,000  2 1.75 
221482 2351 Fairview Ave E #K Seattle  $1,150,000  2 1.75 1,300
192837 2420 Westlake Ave N #4 Seattle  $875,000  2 1.5 1,400
202459 4223 W Semple St Seattle  $1,495,000  4 1.75 3,150
221033 3272 NW Esplanade Seattle  $774,950  3 1.5 2,040
Shoreline Waterfront Homes      
216837 19425 27th Ave NW Shoreline $725,000  3 1 1,240
Vashon Waterfront Homes      
216252 10915 Pt Vashon Dr SW Vashon  $495,950  2 1.5 1,250
210331 25830 Gold Beach Dr SW Vashon  $659,000  4 2 2,270
Current Listings:
Sam DeBord
Realtor® | Managing Broker
SeattleHome.com | Coldwell Banker Danforth
ph: 206-658-3225 | email: sam(at)SeattleHome.com
Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors
Source: Individually compiled NWMLS data. The NWMLS did not compile or publish this information.
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Wednesday, June 1, 2011

Strong Mercer Island Waterfront Homes Sales In April

Mercer Island waterfront homes are showing strong sales to start the year in 2011.  Waterfront real estate sales so far are up more than 60% as compared to the same period in 2010.  Thirteen waterfront homes have been sold, including an oustanding month of April in which 7 homes sold.
There was a large rush in late 2010 for waterfront real estate in Mercer Island, and those big sales numbers led to slower sales in the beginning of 2011.  If the April numbers show us anything, though, the Mercer Island waterfront is about to start moving along briskly again for the summer selling season.
Mercer Island Waterfront Homes Sold, April 2011
Address City Price Beds Baths Sq Ft
6226 E Mercer Wy Mercer Island $1,400,000  3 2 2,200
4456 Ferncroft Rd Mercer Island $1,550,000  3 2.5 2,840
4625 Forest Ave SE Mercer Island $2,025,000  3 2.75 2,760
4056 E Mercer Wy Mercer Island $2,485,000  3 3.25 3,450
6236 E Mercer Wy Mercer Island $3,850,000  6 5.5 6,611
8030 SE 20th St Mercer Island $2,500,000 4 3 6,410
Current Listings:
Sam DeBord
Realtor® | Managing Broker
SeattleHome.com | Coldwell Banker Danforth
ph: 206-658-3225 | email: sam(at)SeattleHome.com
Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors
Source: Individually compiled NWMLS data. The NWMLS did not compile or publish this information.
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