Dream a Little at the Seattle Street of Dreams Show Homes in Woodinville, WA

It is that time of year again when the luxury home tours happens in the Seattle area. Actually, this year marks the 20th year of the Seattle Street of Dreams and it is happening in "Quinn's Crossing" in Woodinville, Washington. What is new and exciting and different at this year's show is the emphasis on Built-Green homes. The homes in the show all have a minimum of a 3 Star rating and have been built with environmentally "green" building materials. Home #5, The Urban Lodge, is the only 5 Star home in the show. The Seattle Master Builders Association is concerned with the built-green concept as I mentioned in a previous post

I went to the Street of Dreams on one of two Realtor Days. We Realtors get free admission to see the homes so we can then talk about the homes with our clients and maybe even sell one of the homes as a result! This year's "Street" is a cluster of 5 homes located around a cul-de-sac. The exterior styling is more craftsman, lodge-like, and prairie style home. The first home stands out on the "Street" as unique to the show with its very European, Tuscan feel.

Pictures and comments on the individual homes are below, but you might need to scroll down to see them due to Blogger formatting issues...

#1 – La Belle Fleur It definitely had the most formal street presence with its stucco style siding and European flavor. There's a lot of elegant ironwork, limestone, Venetian plastering, and wall murals. There's even a fish tank, but it was not operating when we were there.

The master suite was the best of the five homes, more elegant than my taste generally, but you could just imagine yourself relaxing in the sitting area which comes complete with a built-in fridge. There was a private balcony and a gorgeous, huge dual headed shower. The tub conjured up relaxing images of soaking and gazing out at the view. However, I think you might take your life in your hands trying to get out of the tub with wet feet. It looked a little dangerous to me.

#2 – Greenleaf Retreat This home was truly unique to the show. It had the cleanest, most contemporary lines of any of the homes. I would call the exterior style transitional, but the interior was very contemporary. It seemed far more contemporary than the exterior of the home. Some retro furnishings, glass topped tables with metal legs were used to decorate the home. There's a huge great room area with french doors that lead to the exterior and a unique outdoor metal fireplace, built-in grill, and fridge.

I loved the master bath with its see-through fireplace, gorgeous shower and interesting sinks. This master bath is more my style. Check out the tile work on the master bedroom side of the fireplace when you go to the show. I thought it was done well. Upstairs there was a huge bonus/media room that had a built-in coffee maker.

#3 – Copper Falls From the street, this is a classic craftsman style home. From the inside, it's a very formal house. Not something I expected at all from the exterior. Decorated with dark woods, lots of marble, and granite, the interior feels like a grand home one would find on Capitol Hill or Queen Anne.

The entry is graced by a beautiful waterfall, a beautiful touch.

The backyard was great, beautifully landscaped with some nice plantings. You could almost see the family dog running across this backyard. It was the best backyard of the five homes. There's an outdoor room with a fireplace that looked like a great place to relax and unwind.

#4 – Tamarack Tamarack is a name we hear used for several neighborhoods in the Seattle area, however, I just learned that it is also a tree from Montana. Since this wood was used to build the home, the home is called Tamarack.

This home is a well done re-creation of a Craftsman style home done in the Arts and Craft tradition, think of an updated version of the Greene and Green homes, such as the Gamble house in Pasadena. There's lots of wood paneling, built-in glass shelving, and great period style light fixtures.

In the kitchen, look for the countertops made of paper. They were really cool. When you look at them and touch them, you at first think they are granite. Then you realize it's not stone.

There is a beautiful yard, unfortunately, most of it was to the side of the house.

#5 – The Urban Lodge Designed by renowned Seattle architect Curtis Gelotte, the house had a fabulous feel. I thought the floorplan, design, and materials were great. Some people may think the kitchen is small when compared to the other homes, but it really is a well designed kitchen in a beautiful great room space.

I was surprised to learn that California Closets installed the furniture in one of the offices. It looked terrific. The majority of the wood used in the flooring and woodwork is reclaimed hickory. Much of the cabinetry throughout the home was sleek in appearance, a little surprising because of the heavier look of the hickory wood trimwork.

The "outdoor room" was by far the best patio in the show. It was covered, but skylit, and had a gorgeous fireplace. A terrific space for enjoying the outdoors most of the year in Seattle.

Again, this home is the only certified 5 Star Built-green home in the show. CMI builders completed the home and have built a number of 5 Star "Built-Green" homes in Suncadia.

Summary

Besides an emphasis on the "green building" for all of the homes, the show continues its traditional alliance with Make-A-Wish Foundation. A room in each home is decorated to mirror a wish that has been granted by the foundation. Drink up and eat at the show as a portion of the concession stand sales will be donated to help grant future foundation wishes.

My show favorites:

• Best home overall - #5 The Urban Lodge
• Best kitchen - #4 Tamarack
• Best master bedroom - #1 La Belle Fleur
• Best master bath - #2 Greenleaf Retreat
• Best backyard - #3 Copper Falls
• Best outdoor room - #5 The Urban Lodge

My Street of Dreams picks, tell me what you think! What were your favorites?

Some of the Best of Summer on the Eastside: Bellevue's Wonderful Arts Museum Fair

I moved to the Eastside from the east coast 21 summers ago. in July of 1986. One of the very first events we attended was the Bellevue Arts and Craft Fair, now the Bellevue Arts Museum Fair. Only in Bellevue would you see an art fair in a mall parking garage! But actually, it works.

The weather gods rarely allow it to rain the last weekend in July, hence this is the weekend of the art fair. At the same time, with the fair in the parking garage participants are out of the sun and that rare July rain. Artists from all over the country come to this fair. I saw a lot of the wonderful regulars I've come to enjoy over the years: Larry Halvorsen,

Ginny Conrow, Paddy McNeely. What would the fair be without the ceramic trumpets or the beautiful kites.

Each year there are some terrific new things. I was really impressed by some of the woodworking. Seth Rolland from Port Townsend uses one piece of wood and manipulates it into the supports for tables.

The fair continues this evening until 9:30 PM. Tomorrow the fair hours are from 9:30 to 6 PM. A KidsFair, food, and art demonstrations are also going on. This is a major fundraiser for the museum, so come on down and help support the local arts!

Feel free to comment on what you liked at the fair.

More Built-Green Ideas

"Built Green" is pretty exciting stuff especially if you read my last post in which I talked about taking a 100 trees to build one 2000 square foot home. I keep reading about all these great things that will help us all to have a smaller "footprint" on earth and I will continue to add these articles to my blog. There are lots of suggestions made in this article from Realtor Magazine. Some materials presented here are new on the market and some have been around for a while. Some of these items can cost more initially to install, but often will last a lot longer and cost less to use. The added benefit is that these materials will have less of an impact on the environment.

This article mentions copper roofs. I was not aware that copper roofs can last a century! (I know most of you are saying, who cares, I am not going to live that long.) Copper roofs can take all kinds of weather and the material can be recycled. Typical composition roofs have a life span of 20, 30 or 40 years.

Low-E glass, something that has been available for a while, is most cost effective when the winds are blowing in the winter or the summer sun streams in. These windows can have a dramatic impact on cooling and heating bills.


Induction cook tops channel the heat to directly to the pots and therefore, does not heat up a large part of a stove top surface. This is more efficient but also has the added benefit of minimizing burning anyone who accidentally touches the cook top.

Reclaimed wood is becoming increasingly popular in furniture and home building design. I mentioned in my post about The Seattle Street of Dreams that recycled paper was used in one home for counter top. Bamboo and reclaimed wood are also being used for counter top surfaces.


Timber construction is also becoming more popular, think large beam construction. The cost to install timbers is far less than it is to use finished boards from a tree.


Check out the full article to find out about more material and fixtures that are environmentally friendly.

How Many Trees Does it Take to Build a 2000 Square Foot Home and Other Amazing Facts

How many trees does it take to build a home? I had no idea that if you build a 2000 square foot home, it would require 26,700 board feet! This number just blew me away. One 20 inch, 42 foot long tree will produce about 260 board feet, a small fraction of what you would need to build one home. So if you are building this 2000 square foot home, it will take 102 trees.

This explains why you see these swaths of trees clear cut on the mountains around here when you take off on an airplane. Take a look the next time you take off from SeaTac. Many of these trees are going to be used to build homes all over the world.

A recent article in the Seattle Times talked about how much wood, concrete, glass, etc. it takes to build a standard home. It amazes me that we have not run out of natural materials thus far. It certainly puts building green way up there for consideration.

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.

Your neighborhood skinny: What were the chances of selling a home in your Eastside neighborhood in June, 2007?

In June of 2007, the chances of selling a home mostly stood between 23-26%, with the exceptions being West Bellevue with a 33% chance and West Redmond/East Bellevue with a 42% chance.


The plateau: Sammamish, Issaquah, North Bend, and Fall City.

Sellers had a 25% chance of selling, DOWN from 29% last month, and DOWN from 40% last June.
Median home prices increased by 5% to $604,475.
Inventory is up by 53% and sales have declined by 4%.

Buyers, if you have been waiting to buy on the plateau, now is the time for a good value. This area wins for having the most homes to choose from on the Eastside. Inventory is near the all time high on the plateau and has not been this high since July of 2004. (Correction from last month: the chances of selling in May was 29%, not 39% as listed in last month's report).


West Redmond/East Bellevue

Sellers had a 42% of selling a home, DOWN from 63% in May, and DOWN from 70% last June.
Median home prices have increased by 12% from $555,000 to $624,500.
Inventory has increased by 51% and sales have declined by 8%.

West Redmond/East Bellevue wins as the area on the Eastside with the highest percentage of sales, although the chances were less than last month and last year. Even this area is coming back to earth a bit with more of a level playing field between buyers and sellers.

South Bellevue

Sellers had a 25% chance of selling a home in June, DOWN from 29% in May, and DOWN from 42% last June.
Median pricing has increased by 7.5% from $649,970 to $699,000.
Inventory has increased by 42% and sales have declined by 16%.

Woodinville/Bothell/Kenmore/Duvall

Sellers had a 26% chance of selling in June, UP from 24% in May, and DOWN from 39% last June.
Median pricing has increased by 15% to $522,475 from $452,475.
Inventory has increased by 54% and sales have increased by 6%.

Kirkland

Sellers had a 23% chance of selling a home in June, DOWN from 31% in May, and DOWN from 30% last June.
Median pricing has increased by 15% from $600,000 to $694,000.
Inventory has increased by 32% and sales have only increased by 1%

South Bellevue

Sellers had a 25% chance of selling a home in June, DOWN from 29% in May, and DOWN from 42% last June.
Median pricing increased by 7% from $649,970 to $699,000.
Inventory increased by 42% and sales declined by 16%.

West Bellevue

Sellers had a 33% chance of selling a home in June, UP from 29% in May, and DOWN from 38% last June.
Median pricing is up 20% from $1,245,000 to $1,500,000.
Inventory is up by 21% and sales are up slightly by 8%

West Bellevue wins for the area with the highest appreciation and the highest median price.

Redmond/Education Hill/Carnation

Sellers had a 25% chance of selling a home in June, DOWN from 33% in May, and DOWN from 44% last June.
Median pricing declined by 2% from $615,000 to $598,000.
Inventory increased by 36% and sales declined by 22%.

This area had the greatest decline in sales and is the only area that showed a decline in median pricing. I believe the decline in median pricing is an anomaly and not a reflection of a true decline in pricing in this area.

Buyers, this is more your market and it is a great time to find a great value.

What were the chances of selling a condo on Seattle's Eastside in June, 2007?

Sellers had a 45% of selling a condo on Seattle's Eastside in June, 2007

• June, 2007 840 condos for sale, 382 sales, 45% chance of selling a condo.
• May, 2007 761 condos for sale, 376 sales, 49% chance of selling a condo.
• June, 2006 543 condos for sale, 432 sales, 79% chance of selling a condo.

In many of my postings regarding the market, I have said "What a difference a year makes!" Condos are still hot and a great investment, however, if you were a seller last year, your condo probably sold in an hour with multiple offers. This year, sales are brisk, but less competitive because there is so much more to choose from. There is more of a level playing field between buyers and sellers. Buyers should be making a purchase at this time because the amount of inventory has not been this high since September of 2004. There are a lot of choices out there. Inventory has increased by almost 80 properties just since May of this year.

Again sellers,do not give up hope. Your condo has appreciated about 12% since last year. It was wise to make a purchase then and is wise to make a purchase now. Prices, especially in affordable price ranges, are not going to go down. If you are thinking of getting into the market, this is still a great time to buy. Next year at this time, you would be looking at how much your condo had appreciated.

For more information about the overall condo market, see my previous post.

For a review of the condo activity for the last few years, take a look at this chart.

What were the chances of selling a home on Seattle's Eastside in June, 2007?

Sellers had a 30% chance of getting a home sold on the Eastside.

Single family home activity:
________________________________________________________________________
This month, June 2007: 3107 homes available, 841 sold, 30% chance of selling
Last month, May 2007: 2823 homes available, 871 sold, 31% chance of selling
Last year, June 2006: 2168 homes available, 883 sold, 47% chance of selling
________________________________________________________________________

If you click on statistics, this will bring you to my webpage where you can find the latest sales charts on all the Eastside areas.

With summer in Seattle the tradition continues: more flowers and more “for sale” signs sprouting up in yards all over. Competition has increased dramatically since the first of the year when there were only 2402 properties, homes and condos, for sale. There are now 3947 homes and condos available, a 60% increase over the first of the year. We have hit a peak so far for the year.

What a difference a year makes! With 3100 single family homes on the market, there are almost 1000 more homes for sale than last June. The amount of inventory has increased, but the sales numbers have dropped a bit from last month and last year at this time.

Buyers have 43% more homes and condos to choose from this year than last year. It’s a great time for a buyer to buy. However, buyers must know how each neighborhood is selling based on the competition. When you look at my next posting regarding the specific areas around the Eastside, you will see that the neighborhood makes a difference. Some areas are far more competitive with many homes for sale. Other areas are still lacking in inventory. Knowing this information as a buyer will help to determine how to negotiate.

I just re-listed a home in the English Hill area for $10,000 less than we had priced it at in April. The increased competition in the marketplace and the fact that sales in the area have declined led me to recommend a price that was $10,000 less than a few months ago. The market is not dropping, just a bit more competitive right now.

For sellers, the average price of a home is still far above last year’s pricing. The average price of a single family home is up 10% from last year. This year the median price on the Eastside is $691,922 and last year it was $624,687. Condo pricing has increased by 12.7% from $303,285 to $341,725. (Please see my posting on June’s condo market which will follow)

The sellers who get an offer and sell their homes in this increasingly competitive market are fully informed regarding the market conditions and the competition. Pricing based on a sale from March is not the way to net the most money. March is already history. Pricing must be established just before going on the market by understanding the actual competition and pricing a home accordingly.

Stayed tuned and look at an upcoming entry for statistics about specific neighborhoods.

The Fabulous Sunny Fourth Of July in Seattle

The sun shines in Seattle on the 4th of July!

Ok, so our big secret is out! It does not rain all the time in Seattle, even though I had mentioned in a previous post that it was more of a tradition here that the 4th brought rain. This year we had a fabulous fourth. We could not have had more perfect weather. The skies were blue, the sun was shining and the air was dry.

However, I am still boatless in Seattle, on such a day that begs to be out on a boat! My husband and I had the good fortune of being invited on my friends’ boat. They were able to moor the boat in my vacant boat slip in downtown Kirkland and pick us up.

Mt Rainier was out in its glory. I am afraid my photo with a digital camera will not do it justice. It was pretty spectacular. We did cruise over to the Montlake Cut, boats were streaming in that direction as they headed for the fireworks by Gasworks Park.

Here is a photo of Husky Stadium with the sun behind it. I don't think there are many colleges in the nation with such a setting for a football stadium. You have great views of the lake and from some of the stands you can see Mt. Rainier.

The fireworks show was spectacular. Down on the lake you could see several shows going on at once. The Washington Mutual Fireworks show at Lake Union/Gas Works park started the show. From my vantage point on the dock, I could see that show and also the show from the town of Yarrow Point, some from Bellevue and, of course, Kirkland. This sure beat standing out on my street to watch the fireworks. Most years I have gone to the top of my hill, which overlooks downtown Kirkland.

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.

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....