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/
Monday, June 25, 2007
Talk about "Green" Homes"-The Spinach Powered Home!
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.
Friday, June 15, 2007
What Were the Chances of Selling a Seattle/Eastside Home in May, 2007?
Sellers had a 30% chance of getting a home sold.
Single family home sales:
________________________________________________________________________
This month, May 2007: 2823 homes available, 871 sold, 30% chance of selling
Last month, April 2007: 2444 homes available, 734 sold. 31% chance of selling
Last year, May 2006: 1974 homes available, 936 sold 47% chance of selling
________________________________________________________________________
What a difference a year makes! Last year the chances of selling were at 47% for the Eastside as a whole. This year inventory increased 15% for single family homes and condos, an increase of 519 properties. In April there were a total of 3065 properties for sale. In May, the inventory continued to creep up to 3584 homes and condos. This is the largest inventory for sale since April of 2004, pretty significant! Three years have passed since we’ve seen so many properties for sale. The increase in inventory and the slight decline in sales reduced the chances of selling a home only by a whisper from April, but by a difference of 17% from last May to this May.
Is the real estate market beginning to decline? NO, however it is changing and is gradually slowing down from earlier performance levels. The big change is between the numbers for this year and last. Most Eastside areas have declined in sales activity by about 12%
The median price continues to climb! It is now at $691,632 UP about 10% from last year when the median price was at $625,405, and UP from April’s numbers of about $655,000. Again, as mentioned in last month’s statistics update, the median price is a result of what actually sells during any given month, so there will be slight peaks and valleys in the median price throughout the year. At the end of 2007, I still believe prices will be up for the year. So far, each month has seen an increase in the median price.
What were the chances of selling a home in your area?
The plateau, Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 29% chance of selling, DOWN from the 30% in April, and DOWN from 57% last May.
The pattern stays the same with this area having the most number of homes for sale and the most number of sales.
---------------------------------------------------------
The West Redmond/East Bellevue area
Sellers had a 63% chance of selling, UP from 45% in April, and DOWN from 88% last May.
This area still wins by a huge margin for the highest absorption rate on the Eastside. It continues to buck the other neighborhood sales trends. Most other areas are seeing a sales rate of 24-33% of the homes. With its low inventory, the opportunity is still strong for a home sale to be bid up with multiple offers. Ironically, even with the chance of selling at 63%, the chances of selling were still down by 25% from last year.
----------------------------------------------------------------------
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 24% of selling, DOWN from 37% in April, and DOWN from 49% last May.
-----------------------------------------------------------------------
Kirkland
Sellers had a slightly better chance of selling this past month 31%, UP from a 29-30% in April, DOWN from 41% last May.
-------------------------------------------------------------------------
South Bellevue
Sellers had a 29% chance of selling, UP from 25% in April, DOWN from 41% last May.
-------------------------------------------------------------------------
West Bellevue
Sellers had a 29% chance of selling, Up slightly from 28% in April, and THE SAME as last May.
--------------------------------------------------------------------------
Redmond/Education Hill/Carnation
Sellers had a 33% chance of selling, DOWN from 35% in April, and THE SAME as last May.
Debbie’s monthly tip: Summer is a great time to recaulk all your windows.
Wednesday, June 13, 2007
Medina, 98039 is the Seattle/Eastside's Most Expensive Place to Live
I happened to read about the most expensive zip codes in the Puget Sound area in one of the recent issues of the Puget Sound Business Journal. The survey looked all over the sound at the average cost of housing, the average income of the residents, and the average net worth in each zip code. The data used to determine the wealthiest zips is measured by these statistics, not just the real estate values. However, I did a bit of a reality check on some of the real estate numbers. I reviewed Multiple Listing statistics to see how they compared to the data in the Journal.
No big surprise, Medina is the wealthiest community in the area. The median price for homes is well over $1,000,000. Mercer Island ranked as the second wealthiest community, with the median pricing falling in the $800,000+ range.
What other zips on the Eastside made the top ten, according to the Business Journal?
- 3-98075-Sammamish
- 4-98053-Redmond
- 5-98074-Sammamish
- 6-98077-Woodinville ( the county areas)
- 7-98006-Bellevue (South of I-90)
- 8-98004-West Bellevue, Hunts Point, Clyde Hill
- 9-98110-Bainbridge Island
- 10-98177-Seattle, including The Highlands
This article sees the wealth of the region moving east, east even of Lake Sammamish, to the city of Sammamish, with its two zip codes, then to 98053, the county areas of Redmond, and to Woodinville. Ironically, only one Seattle zip made the top 10.
One of the big surprises is the ranking of the city of Sammamish. In the past two years, Sammamish has surpassed many of the Eastside's other communities and has achieved a top ten ranking. The city's two zip codes rank in the top five. There is a home listed as selling for $28 million. It does not show up in MLS stats and could have been a private sale. This huge sale would raise the median pricing for the area by quite a bit.
The 98053 zip code encompasses more outlying areas of Redmond and is in the county, not in the city. I attribute the wealth of this area to such established neighborhoods as Gun Shy Ridge, Westchester, Hunter's Glen, and Hunter's Wood. These are all large neighborhoods on acre lots.
The King County portion of Woodinville, 98072, also boasts estate properties and large neighborhoods with homes on acre plus lots.
Very surprising to me was the rating of 98004 at number 8, down from number 4, the Clyde Hill, Hunts Point, and downtown Bellevue areas. Hunts Point is one of the wealthiest cities in the nation. The majority of the homes fall on large lots of several acres facing waterfront either to the west or east. A tear down home is in the multi-million dollar range. Clyde Hill also ranks up at the top of the list in home prices. I checked the Multiple Listing stats for home and condo sales, and the Business Journal's numbers were pretty accurate.
However, if you take out the condominium sales, it would bring the median price range up from about $700,000 to $1,005,000. The lowest sale of $160,000, as reported in the Journal, was for a condo, the least expensive home sale was $377,000. I do believe that as far as real estate values go, the single family homes in 98004 rank far higher in value than at number 8.
The addition of condo sales brings the median pricing down. The condo market is changing quite rapidly because of all the high end condo complexes currently under construction in downtown Bellevue.
Saturday, June 09, 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, http://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, http://www.camwest.com/ and Chaffey Homes, http://www.chaffeyhomes.com/, to high end custom builders such as Bender Chaffey, http://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 home!
Sunday, June 03, 2007
The Latest Kitchen Trends
Planning a kitchen remodel or just updating appliances?
The attached article will give you some great information about the newest kitchen trends for 2007. Some of the ideas really hit home with me.
When I show prospective buyers new homes, I constantly hear how everyone congregates in the kitchen. People want different spaces right in the kitchen. Home owners want places to read and store mail, plus sitting areas for entertaining guests and for relaxation. These spaces are not just in the family room anymore, but now are more incorporated into the kitchen.
Kitchen design is now looking at separate work stations throughout the kitchen, rather than the simple triangle work pattern with a path between the stove, refrigerator, and sink as points of a triangle.
I have some clients who are avid cooks and were way ahead in kitchen design with their kitchen remodel. They have a large U-shaped prep area with the stove, a work sink, refrigerator and abundant counter and storage space. The clean up area is on the other side of the kitchen and it has its own sink, the dishwasher, and cabinets for storing the dinnerware. The cabinetry for each area is even different. The prep area has light cabinets, while the clean up area had dark stained cabinetry. When I saw their kitchen about 6 months ago, it made an impression on me because it was so functional.
Storage is becoming more elaborate. Cabinet interiors are designed to store specific items such as pans and trays. Storage is also sleeker.
I saw a great example of sleek cabinetry at the Bellevue Towers condominiums being built in downtown Bellevue. Clients of mine purchased a new home in the complex, so I got to see the finish work first hand. The kitchen designs were just fabulous. So fabulous that I could not find the dishwasher or refrigerator easily, which is exactly the point! Both appliances were behind beautifully crafted cabinet doors that were flush with the rest of the cabinetry. The design was quite elegant and seamless. The kitchen designs had more to offer in smaller, sleeker spaces, and with a less cluttered look. (These kitchens made me want to go home and rip my kitchen out!)
http://www.bellevuetowers.com/
Sustainability is also more of a consideration. People are using more "green" materials, such as bamboo flooring. Not to tout Bellevue Towers again, but the condos are being "built green"
I was excited to see the concept of universal design, design for everyone of any age and any ability, mentioned in this article. With our aging population, everyone needs to rethink design and livability. Accessible cabinets and counters and levers instead of door knobs are all issues to be considered when designing a kitchen that works for everyone, regardless of age.
http://www.realtor.org/RMOArch.nsf/pages/ArchCoach200706?OpenDocument
Saturday, June 02, 2007
Eastside Schools are Tops Again
Kudos to all the Eastside High Schools that are in the top 5% of the nation. These top rankings of high schools are impressive. Our strong educational system has a great impact on the quality of life on the Eastside and the future of our children.
Special congratulations to the Bellevue Schools and Superintendent Mike Riley. Bellevue has done it again and has 4 high schools listed in the top schools in the nation. The criteria are based on the number of Advanced Placement and Cambridge or Baccalaureate tests taken compared to the overall population of each high school. Only the top 1250 high schools, the top 5% in the nation, are listed in this article.
Bellevue Schools:
The International School - number 11
Bellevue High - number 32
Newport High - number 49
Sammamish High - 104
http://www.bsd405.org/Default.aspx?tabid=56
Here is more for the Eastside:
Kenmore - Northshore Schools
Inglemoor High - number 97
http://www.nsd.org/education/components/scrapbook/default.php?sectionid=1
Issaquah High - number 1041
http://www.issaquah.wednet.edu/
Redmond-Lake Washington Schools
Redmond High - number 1169
http://www.lkwash.wednet.edu/
http://www.msnbc.msn.com/id/18757087/from/ET/
Subscribe to:
Comments (Atom)
