I am moving from the eblogger platform to wordpress over the next couple of days. Wordpress gives me the option to categorize my blog posts so you can search for the information that interests to you. You will be able to find all of the statistics, school information, etc. all under separate tag headings in the sidebar.
If you are accessing this blog via www.westredmondrealestatebuzz.com, then your access should switch over automatically when we switch the domain name to the new blog. If your RSS feeds don't pickup the new blog site in a few days, you may need to resubscribe with the URL above.
Stay tuned!
Tuesday, September 4, 2007
Moving Day at West Redmond Real Estate Buzz
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Debra Sinick
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11:43 AM
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Friday, August 31, 2007
West Redmond Weekly Real Estate Buzz, August 31, 2007
Active Listings: 42 (48)
Sold subject to inspection: 4 (0)
Pending: 2 (2)
Closed Sales: 7 (1)
Number of Price Reductions: 8 (5)
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Number of homes available: 42 (48)
$350,000-$499,999: 4 (4)
$500,000-$749,999: 23 (27)
$750,000-$999,999: 11 (11)
$1,000,000- $1,499,999: 4 (5)
$1,500,000- $2,999,999: 1 (1)
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Average Price: $729,673 ($728,271)
Median Price: $650,000 ($650,000)
Average Days on Market: 62 (56)
Highest Priced Listing: $1,595,000 ($1,595,000)
Lowest Priced Listing: $398,000 ($399,660)
My analysis of this week's buzz: There is a bit of discrepancy in the numbers, because I noticed one listing is really not in the 98052 area of Redmond around Microsoft, the area reported here. Occasionally agents will post listings in an another area in the hopes of generating more interest. The number of listings from last week included this listing, which is truly not listed in the correct area.
Even in this market, a home can sell quickly, if it is priced right according to the competition. The new listing, which immediately received an offer, is a newer style two story built in the early 1990's by Camwest. It is located at the end of a cul-de-sac within a few minutes drive to Microsoft.
Activity is different than last week. There were less homes listed, which is good news for sellers. Also, the number of homes sold subject to inspection and pending this week is substantially higher than last week, with 6 vs. 2 sales. However, the prices of 8 homes were reduced this week. Price reductions fell in price ranges all over the map, from just about the $400,000 range to a home priced over $800,000.
The closed sales ranged from a $450,000 home in the Meadows to a high of $1,640,000 for a waterfront home on Lake Sammamish. These homes generally sold about 30 days ago.
Let me know if you have any questions or comments about the real estate buzz for this week.
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Debra Sinick
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1:59 PM
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Thursday, August 30, 2007
The Gems of Redmond, WA-Catch The Last Breath of Summer at Idylwood Park
Catch the last breath of summer, before having to get back to reality, over at Idylwood Park in Redmond on the shores of Lake Sammamish at 3650 West Lake Sammamish Pkwy NE.
Idylwood Park's 18 acres offers some of the best public spots along the lake.
a wonderful play structure
volleyball courts
covered picnic tables and huge open areas for fun


stream that empties into the lake. Ducks could been seen walking across the park and cruising the lake.

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Debra Sinick
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10:05 PM
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Meet and Greet Your Teacher Today at Ben Rush and Audubon Elementary
Stop by Ben Rush Elementary today to meet your child's new teacher. Come by the school between 2-3 PM today for your introduction.
Ben Rush Elementary
6101 152nd Ave NE
425-881-6047
Head over to Audubon Elementary at 12 Noon today.
3045 180th Ave NE
425-881-9578
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Debra Sinick
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9:09 AM
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Friday, August 24, 2007
West Redmond Weekly Real Estate Buzz, August 24, 2007
Your neighborhood buzz for August 17-24th
New listings: 5
Active Listings: 48
Sold subject to inspection: none
Pending: 2 , one at $549,000 and one at $1,450,000
Closed Sales: 1 at $585,000 with a list price of $599,950
Number of Price Reductions: 5
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Number of homes available: 48
$350,000-$499,999: 4
$500,000-$749.999: 27
$750,000-$999,999: 11
$1,000,000- $1,499,999: 5
$1,500,000- $2,999,999: 1
-----------------------------------
Average Price: $728,271
Median Price: $650,000
Average Days on Market: 56
Highest Priced Listing: $1,595,000
Lowest Priced Listing: $399,600
There was some new activity this past week with 5 new listings and 5 price reductions. Three of the 5 price reductions were for new construction homes. This signals a bit of a change in the market, since it's been rare that builders have reduced any inventory. One of the other price reductions is for a resale home that came back on the market newly priced at $20,000 less than the previous list price. This home was also mentioned last week as one of the homes that had sold, but had come back on the market again. Another listing had an offer and also came back on the market.
Posted by
Debra Sinick
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4:31 PM
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Monday, August 20, 2007
What were the chances of selling a home in West Redmond in July, 2007?
Sellers had a 33% chance of selling a home in West Redmond in July, 2007.
(statistics obtained from MLS and Windermere data. Sales are pending, not closed sales)
I mentioned in last month's report the sales activity was coming back down to earth and it has now landed! Although inventory in the area is the second lowest on the Eastside, it has increased dramatically from the first of the year. There are double the amount of homes available than in January. We have gone from 107 listings to 205 listings. We are now seeing some price reductions. Market time has also increased dramatically since the first of the year. In my first Friday real estate buzz posted last week, I mentioned market time is now 56 days. The market is moving more into a buyer's market for the first time this year.
For the full Eastside buzz on all the neighborhoods, you can check out www.eastsiderealestatebuzz.com
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Debra Sinick
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1:32 AM
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Friday, August 17, 2007
Introducing: West Redmond Weekly Real Estate Buzz
Everyone wants to know the latest real estate happenings in the neighborhood. Here is the answer. If you follow the numbers listed here each week, it will be easier to understand the market trends specific to the Redmond neighborhoods near Microsoft. There are overall trends in real estate, but not all neighborhoods perform in exactly the same way at the same time. Here is your chance to see this Redmond activity on a weekly basis.
If you look at the articles every Friday you will find:
total number of homes for sale
Number of homes available in each price range
Most expensive home for sale
Least expensive home for sale
if inventory is up or down from the previous week
Number of homes receiving offers that week (pending or sold subject to inspection, STI)
Number of closed sales
Average days on the market
Number of price reductions
-------------------------------------------------------------------------------------
The West Redmond weekly real estate buzz for the week of August 10-17th ( 8:30 AM)
Active: 47 homes
0-$499,999: 2
$500,000 - $749,999: 29
$750,000 - $999,999: 8
$1,000,000 - $1,499,999: 5 ( All new construction off NE 40th)
$1,500,000 and above: 2
Least expensive home: $399,600
Most expensive home: $1,850,000
Pending sales: 1 at $649,900
Closed sales: 2
1 closed at $735,000, final list price was $750,000, original list price was over $800.000
1 closed at $760,000, final list price was $760,000
New listings: 6
Average days on the market: 56
Price reductions this week: 4
My general impressions: Of the 48 homes listed, there are a total of 13 price reductions, including the 6 homes reduced this week. During the time I have been working on this report, 1 home listing, which is not included in the total active listings, went off the market.
The "bread and butter" price range for the area is the $500-$750,000 price range as this is the range for most of the inventory. Homes above $1,000,000 tend to be new construction or waterfront. There is one home priced at $1,595,000 that is not new construction or waterfront, but it is also 5300 square feet.
But the real eye opener for me was 7 homes of the 47 active listings have had offers and are back on the market. Two homes had two offers that flipped on inspection. Two of the other fail sales were new construction homes that are not complete.
Does this mean these homes had more problems or did the buyer's simply back out? It can mean one of three things, the buyer and seller could not agree on inspection items, there was a problem with the home or the buyer backed out for reasons we may never know. Maybe that buyer got cold feet, lost a job or their financing. If there were problems with the home, then the seller would need to disclose the identified problems to the next buyer.
I wonder if we will see more fail sales with the change in lending.
I will be following this activity in this blog. Let me know if there is anything else you would like me to research.
Posted by
Debra Sinick
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1:15 AM
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Tuesday, August 14, 2007
Another Sunday Evening in Redmond With Great Food and Wine

Oh, the food. I had a wonderful salmon dish with heirloom tomatoes and a salsa verde. On another occasion, I had the gnocchi with heirloom tomatoes. (I cannot get enough of heirloom tomatoes in the summer)
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Debra Sinick
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9:43 PM
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Thursday, August 9, 2007
Garage Sale- View Ridge Near Microsoft

Come on Down!
Saturday, August 10th from 10 AM to 4 PM.
Stop by 5518 157th Drive NE for the latest treasure!
Furniture
Electronics
Clothes
Sporting goods
Dishes
Cookware
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Debra Sinick
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1:25 PM
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Sunday, August 5, 2007
What a way to spend a Sunday evening in Redmond: Good food and Great Prices
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Debra Sinick
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11:44 AM
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Saturday, July 28, 2007
Head to Redmond's Marymoor Park Today to See Cyclists Try for The Olympics
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Debra Sinick
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9:21 AM
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Monday, July 23, 2007
The Gems of Redmond #1-Doggy Disneyland and other Great Things at Marymoor Park.
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Debra Sinick
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5:02 PM
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What sells in Peoria May Not Sell on Seattle's Eastside
I just had a past client call me to get my advice about making some changes to her home before she put it on the market. We have known each other since 1999, when she and her husband were referred to me to help them find a home on the Eastside. They purchased a home that they remodeled and sold after living in it for several years. At that time, they decided to move closer to family in the Midwest. Now, she and her family are heading back to the Northwest.
The home in the Midwest has a very 60's retro flavor. The light fixtures in the home are true period pieces. She emailed me photos of her home and asked what I thought about changing the light fixtures. I questioned her about the type of buyer who might be buying her home, the performance of the real estate market in the area, and if her home had competition from other listings. Finding the answers to these questions helped her to decide whether or not to change out the light fixtures. Her Realtor in Illinois was a fan of removing the fixtures, since she didn't think buyers would appreciate them. Her thought was to update the fixtures as this would appeal to more buyers.
Ironically, I know people in the Seattle area would kill for retro light fixtures, and this is my point. Different markets demand different styles and features. If this home was selling in the Seattle area, I would not recommend removal of the light fixtures. Here, retro fixtures would be an added plus.
It is important for both buyers and sellers to know what works in a particular market. What sells in Peoria does not always sell in Seattle. Your Realtor should be able to help you determine what "sells" in your area. Making choices that appeal to the local market when updating your home is critical for making the most money when you sell your home. It is a great way to make more money, and, also, not lose money because of a costly remodeling mistake.
But remember, ask a Realtor "what plays" in Seattle so you can make the most money out of any remodeling.
Posted by
Debra Sinick
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8:31 AM
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Friday, July 13, 2007
What were the chances of selling a home in West Redmond in June,2007?
Sellers had a 42% chance of getting their home sold in June, 2007.
The area is still performing at a stronger rate than most of the other Eastside areas. However, it has slowed down a bit. Last month I thought June might be a little stronger than it ultimately turned out to be, but still, if you are selling a home, you are lucky to be in this part of the Eastside.
If you go the statistics page on my website, you will find the chart for the East Bellevue/West Redmond area.
- June, 2007 179 homes for sale 76 sales, 42% chance of selling a home.
- May, 2007 152 homes for sale 97 sales, 63% chance of selling a home.
- June, 2006 118 homes for sale 83 sales, 70% chance of selling a home.
The area near Microsoft, East Bellevue and West Redmond, continues to have the lowest inventory on the Eastside, with the exception of West Bellevue. The area finally approached 176 homes for sale this past month. It still is a pretty tight market. However, for the first time this year, I am seeing many more homes go through some price reductions.
I have some clients looking in the area in the $500-700,00 price range. They asked me a couple of months ago to send them the sales each week so they could track the final sales price to list price for homes in the area. We are starting to see full sales prices cracking. Some sellers are actually having to negotiate and give a bit in price to get their homes sold.
If you are actively looking, you may want to have your Realtor track the final sale prices to the original list price on a weekly basis for you. That way, you will be right up to the minute with the pricing in a particular area.
For a picture of the real estate activity on the whole Eastside, you can check my blog at Eastside Real Estate Buzz.
Posted by
Debra Sinick
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2:41 PM
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Tuesday, July 3, 2007
Celebrate the Fourth of July All Around the Seattle/Eastside Neighborhoods

The Fourth Of July holiday heralds summer! The Fourth of July is often cool and rainy, what many people think happens here all year round. But the surprise, we usually have a gorgeous spring and a fabulous summer. It is our big Seattle secret.
Tradition dictates, however, that our true summer begins on the 5th of July. I know this to be true because I am beginning my 22nd year in Seattle this July 4th and I can count on one hand how many times it has warm and sunny. The Seattle Times reported in the newspaper today that the Fourth of July is usually the soggiest day of July.
This year promises to be one of those great Fourths with the weather predicted to be in the high 80's to the 90's. Of course, this happens only because the holiday falls on a Wednesday, the middle of the week, when most people are not taking off a few days for a long weekend! (The gods can be cruel sometimes!)
People certainly have their favorite places to see fireworks all over the Sound. Two big shows happen in the city.
Washington Mutual sponsors a day long funfest and fireworks show at Gasworks Park.
Join Ivar's at Myrtle Edwards Park overlooking Elliot Bay for a 10 PM fireworks show.
Over on the Eastside, there are great events in Kirkland on the Fourth. There is a parade at noon, a picnic at 1 PM at Juanita Park, and a fireworks show at 10 PM over the lake.
(I may park myself by my empty boat slip down in the Kirkland marina to get a close look. I mentioned I was boatless in my previous post on my Kirkland Highlands blog)
Bellevue also has a day of fun with a full day of events.
For all the festivities on the fourth you can check out the Seattle Times.
Posted by
Debra Sinick
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4:54 PM
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Thursday, June 28, 2007
Can you make more money and have less stress if you use the services of a Realtor? You decide....
Three homes recently sold near Microsoft.
(This is home #3, my listing, pictured)
Home #1 - a beautiful home that was offered online by the sellers without a Realtor. The home sold for $710,000. It was a 2900 square foot two story, built in the 1990’s, with a big backyard backing to greenbelt. The house was not listed and, therefore, not exposed to the full range of buyers. According to the comparables and the sale of home #3, this was not the highest price the sellers could have obtained. Homes built after 1985 close to Microsoft are hot commodities and often sell for more than listed price.
Home # 2 – the owners were unrepresented sellers and sold their home directly to a buyer. When I talked with the owner after the sale closed, he was very vocal about his experience. He ended up not speaking to the buyers. Negotiations over the price were very tough and subsequently were tougher over the inspection. The seller negotiated the sales price far below market value and also had to give up more in a building inspection. The asking price for the home was $680,000 and sold $630,000, $50,000 below asking price! (It can be hard to be the tough guy in negotiation when its your own home).
Home # 3- was a home I listed for $725,000 and sold for $736,000. The home was approximately 2800 square feet and on about an 8000 sq ft lot. I met with the sellers several weeks before they hoped to go on the market. When we first met, we discussed a price range in the low 700’s, higher than any other home had been priced in the neighborhood. We did not establish the list price until the day before going on the market. By doing this, we knew what the actual, up to the minute, competition was for their home.
Because I knew we had no competition at the time, we dictated when showings could begin, held an open house, which was advertised only on the internet and to neighbors, not in the newspaper. (I was looking for truly interested buyers) We set a time to look at offers after being on the market for only 5 days. During the five days the home was available to all the buyers. The activity and interest created for this home was just fabulous. We had back to back showings throughout the weekend the home was on the market. We had about 25 showings and about 20 qualified buyers to the open house, all in five days time. The seller received three wonderful offers. I helped the sellers evaluate the three offers so they could choose the one that was best for them.
The real beauty of the offer for the seller #3?
The buyers had pre-inspected the home and made their offer without an inspection. How fabulous for the sellers! Upon acceptance of the offer, there was no more negotiation. Think about it. When buyers are put in a position to give away their “first born” to be the offer that gets the house, they will negotiate harder when it comes to an inspection. It’s human nature. When buyers pay more than full price for a home and beat out other offers, they usually want more repairs done based on the building inspection. The seller avoided this completely. Not only did the sellers get a higher price for their home, there was no second round of negotiation on an inspection. This saved the seller even more money and stress with the sale of their home.
Could seller #1 above have made more money that the sale price of $710,000? The home is larger and had a much bigger yard than the home I sold for $736,000. I think the price for this home could have been $750,000, selling with multiple offers and for a higher price. Too often I see sellers sell their home by deducting the real estate commission.
Who benefits from this, the seller or the buyer?
The buyer! The buyer gets the home for less than market value. The seller makes no more money by selling direct, is unrepresented, and has not opened up the sale of their home to all of the potential buyers. Without the synergy of lots buyers, there is little chance of multiple offers resulting in a higher price. When a buyer knows they are not competing with any other buyers for a home, the home will not sell for more than the full price.
Seller #2 could have had a positive, stress-free experience and made more money. It can be tough to be the “bad” guy and be a strong advocate for your own self in negotiations. It is that old human nature again. Most of us want people to like us and do not know how to handle negative confrontations.
Can you make more money and have less stress if you use the services of a Realtor?
You decide....
Posted by
Debra Sinick
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8:27 PM
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Monday, June 25, 2007
Talk About "Green" Homes-How About Solar and Spinach Power?
Talk about building green! This website tracks all kinds of information regarding building green homes. The link below talks about a home designed with solar and spinach power! Check it out, it is pretty interesting.
http://www.inhabitat.com/2007/06/21/spinach-powered-house/
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Debra Sinick
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7:03 PM
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Sunday, June 24, 2007
How Much Have Homes Appreciated in the Seattle/Eastside Neighborhoods Since 1990?
We are lucky to be in Seattle! Our area continues to defy the national real estate market trends.
Here is a bit about what has happened since 1990:
Homes appreciated every year, except two:
1992 – prices stayed the same.2001 – prices declined a bit ( remember 9/11) – 2%
Top five years with the highest appreciation:
1998 - 21%1997 – 18%2005 – 17%1999 – 14%2006 – 13%
Inventory was much higher in the 1990’s than in the 2000’s.
It was not uncommon for much of the early 90’s to have 7000-9000+ properties for sale.
August, 1991 – 9546 homes were available
May, 2007 – 3584 homes are available, 2/3 less homes are available today
Even though we are at the highest amount of properties on the market since 2004 with 3500 properties available, our inventory levels are nothing like the 1990’s!
Hang on through the rest of this decade. We still have a lot of growth to come. The job market is still very strong and available land for new construction is limited. Expect appreciation to continue throughout the rest of the decade.
Posted by
Debra Sinick
at
5:26 PM
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Saturday, June 23, 2007
What were the chances of selling a home in West Redmond in May, 2007?
West Redmond/East Bellevue continues to defy all of the Seattle/Eastside real estate market trends. If you look at my www.eastsiderealestatebuzz.com blog, you will see how Eastside real estate is performing. Most sellers had about a 30% chance of getting their home sold in May in all areas except the West Redmond/East Bellevue area. Over 60% of home sellers in these neighborhoods sold their homes last month. Many of these sellers received multiple offers and sold their homes for more than the asking price.
http://debrasinick.com/docs/530%20Graph%20for%20May%202007.pdf
(NEW DATA) The chart linked above will show the exact numbers for the West Redmond/East Bellevue neighborhoods)
I see this market continuing in June, since the inventory in the area is still so low. I just sold a home in West Redmond this week that was on the market for two days and received multiple offers. I represented the buyer in this transaction. My client's offer was accepted and the home will sell for over $40,000 more than the asking price! The listing agent knew how to review both offers with the seller, keep both buyers in competition, thus netting the seller a lot more money. The demand for homes is so strong that this seller is making 5% more than the asking price of the home. When homes are made available to all buyers and each buyer knows there are other interested parties, the buyers make great offers. When there is competition like this for a home, buyers pay more. Not only are the West Redmond/East Bellevue sellers getting a great price when their homes are sold on the MLS, they get representation and less stress.
Posted by
Debra Sinick
at
11:36 AM
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Saturday, June 9, 2007
Built Green is the New Buzzword in Seattle/Eastside Real Estate
At my monthly networking meeting, Forum XXII, we heard from the Seattle Master Builder's Association about the Built Green program.
http://www.builtgreen.net/index.html
The website had a lot of terrific information about sources for "built green" materials, architects, builders, remodelers, and building standards. "Built green" is our new real estate buzzword. There is a growing emphasis on environmentally friendly building and the use of sustainable materials.
Our listings in the Multiple Listing Service will soon be able to reflect the "built green" status of a home. If a home is listed as "built green", the builders will have had to follow certain standards to achieve this status. "Built green" homes can range from a 2 star to a 5 star level. If a home is built to the 4 or 5 star standard, which has stringent requirements, all of the construction and materials must be independently verified. Certificates are issued to homes that meet these standards. In the future, home buyers will be able to search on line for "built green" homes.
Of the 10,000 new construction homes built in King County last year, only 15-18 were certified as the star 5 "built green" homes, the most stringent level of "built green" homes. Most of these homes were built by a builder in Seattle, Michele Rose.
Most homes categorized as "built green" are built to the 3 star level. Quite a few homes in Issaquah Highlands meet this standard. The Dwelling Company built a number of "built green" homes in the Highlands.
Some of the other builders mentioned who have built some "green" homes were Bennett Homes, www.bennetthomes.com. Bennett Homes is known for "built green" homes in Suncadia, on the other side of the Cascades. Other local builders range from some of the larger builders, such as Camwest, www.camwest.com and Chaffey Homes, www.chaffeyhomes.com, to high end custom builders such as Bender Chaffey, www.benderchaffey.com.
Some thoughts about building green:
Materials can be somewhat more expensive for "built green" homes, however, the cost savings for energy efficiency usually more than compensates for the initial building cost. Check out this website on federal tax credits for energy conservation:
http://www.dsire.org/
Other thoughts:
If you start from the get-go when building a home, it is far cheaper to build green than to start doing some add-ons.
Hardwood floors and other hard surfaces, such as tile. stay cleaner than carpet. It was recommended that main living area be finished with hard surfaces because many people wear shoes throughout their home. Shoes bring in all kinds of contaminents.
Ventilation has become so tight the air in homes can become stale and is not fresh.
The gasses from glues used during standard construction can be emitted for up to 30 years after construction.
These thoughts sure make one want to think of a healthy "built green" home!
Posted by
Debra Sinick
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6:42 PM
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