Luxury Foreclosures Sold in Seattle

Foreclosures aren't always boarded-up windows, stained carpets, and concrete-filled toilets. These bank-owned properties are high-end luxury homes that have sold in the Greater Seattle metro this year for over $1 million. Not too shabby for "distressed" properties.

Kirkland - Holmes Point$1,500,000This lakeview home has 6000 sq ft of living space, was built in 2007. It has a boat slip, a theatre, and an elevator. I wonder if any bank executives spent a weekend here "researching" the property.

Seattle - Magnolia$1,350,000This 6 bedroom, 4.5 bath house took just one week on the market to sell. The new owners got a 4700 sq ft new construction home with views of Elliott Bay, the Space Needle, and downtown Seattle. Apparently the outlook from the foreclosure crunch isn't bad for everyone involved.

Bellevue - Downtown$1,300,000This 2008-built house is true Northwest-style construction. It's 4200 sq ft, 5 bed, 3.75 bath, on an 8500 sq ft lot. With this downtown Bellevue location, that's some valuable dirt and a very short commute to some of the best jobs in the region.
Kirkland - West of Market$1,250,000This house has sweeping views of Lake Washington, Kirkland, and even downtown Seattle's skyscrapers. It was on the market for almost a year. 5 beds, 4.5 baths, and a detached 1/1 water view apartment make up 4800 square feet of living space.

Kirkland - JuanitaAdding to Kirkland's total on the luxury foreclosure infamy list is this lakeview, 2005-built beauty. It's 5 beds, 4 baths, and 4600 sq ft. The views are spectacular, and the home has community waterfront access. The styling is very modern, and the use of the view is maximized throughout the home.

Mercer Island - Madrona Crest$1,100,000Mercer Island joins the party with this "modest for this list" home, at just 3500 sq ft. It has 4 beds, 2.5 baths, and was built in 2008. With 10,000 sq ft of land, this is a big Mercer Island lot and a great location.

Yarrow Point$1,000,000This is the oldest of our million-dollar foreclosures, an early 1960s home. The majority of homes on Yarrow Point and Hunts Point are older/remodeled homes, and rately go for less than 6 figures if they have waterfront/water views. This one was snapped up after just 9 days on the market.

Foreclosures are a bad situation for some, but for buyers with the ability to make a sale happen right now, there are some real discounts to be had on luxury and waterfront homes.

Bellevue and Medina - Waterfront Real Estate Sales for August

Three high-end waterfront homes sold in the month of August on the Eastside of the Greater Seattle metro. Two of these sales were in Medina, and the third was on Lake Sammamish in East Bellevue.

Bellevue Waterfront Homes: The Lake Sammamish home was the least expensive, with a 2/3 acre lot and a small beach house, selling for $1.14 million. The house is under 800 sq ft, so it's likely to be someone's weekend getaway or to be razed and rebuilt. This was an estate sale, and the property sat on the market almost a full year, starting out at a $1.8 million listing price.

Medina Waterfront Homes: On the Northeast side of Evergreen Point in Medina, a 4000 sq ft home sold for $2 million, which is a fairly rock-bottom price for Medina waterfront. The lot was nearly half an acre, and the home was built in 1987. The water is very calm in this area (Fairweather Bay), and there are close-in views of Hunts Point and Kirkland. Prices on the East-facing waterfront of Medina are many times less expensive than the West-facing homes, although the moorage facing East can be better.

On Medina's Gold Coast, a West-facing home sold for $6.1 million mid-month. This is North of Highway 520, facing the University of Washington and Laurelhurst, across Lake Washington. With 5 bedrooms, 8 baths, and 8000 sq ft of living space, this home built in 2003 is an exquisite piece of design and construction. The home was on the market for about 16 months, dropping all the way down from $7.9 million.

Sam DeBord and Brian Wiegand

http://seattlehome.com/

Waterfront Real Estate sales on Seattle's Eastside, 07/09

There were two sales in July of Seattle area waterfront homes on Lake Washington and Lake Sammamish. Between $1 and $1 million, these Bellevue waterfront and Kirkland waterfront homes are in the low-to-mid range of sale prices on the Seattle-area lakes.

Bellevue Waterfront Homes - The Bellevue home sold was on Lake Sammamish, on Bellevue's East end. A smaller home (1500 sq ft), it was suggested in the listing and very likely that it will be rebuilt as a larger home. With 50 feet of waterfront it's big enough to expand, and the vast majority of homes on the waterfront are much larger. The property sold for $925,000 after 6 months on the market.

Kirkland Waterfront Homes - The Kirkland sale was in Woodland Cove, a high-end enclave on the shores of Juanita Bay. On the North end of Lake Washington, this home has 100 feet of South-facing waterfront and about 4000 sq ft of living space. It sat on the market for about 9 months before selling for $2.2 million.

Sam DeBord and Brian Wiegandhttp://SeattleHome.com