Kirkland Waterfront Home Sales Soar in 2011: 26% More Waterfront Real

Jan27
2012

Written by Sam DeBord, Seattle Real Estate Broker

Waterfront home sales in King County and most of the Eastside have been rising steadily for the past couple of years. Kirkland’s waterfront real estate sales, in particular, have gotten a big boost.

After 38 Kirkland waterfront homes were sold in 2010, that number jumped to 48 during 2011. The increase of 26% was one of the biggest in the greater Seattle region. Not only did the total number of sales increase, but the highest-end home sales were also up significantly.

Many cities saw a drop in their million-dollar and multi-million-dollar home sales recently due to the lack of luxury home buyers. Kirkland’s sales of waterfront homes over $1 million in 2011 almost doubled, from 12 sales to 20 sales. Multi-million dollar waterfront home sales rose from 5 closings in 2010 to 7 in 2011. The market for waterfront homes in the city of Kirkland seems to be heating up even more quickly than the rest of the strengthening luxury real estate market in King County.

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Posted in Hunts Point WA Homes

Million Dollar Foreclosures: Seattle Luxury Bank-Owned Homes

Nov19
2011

Written by Sam DeBord, Seattle Real Estate Broker

Bank-owned homes, REOs, or Foreclosures: whichever term you use, there is a stigma associated with these homes that gives a consumer the impression of a less-than-attractive piece of property. While there are plenty of ransacked foreclosures for sale, there are also plenty of high-end luxury homes that end up being bank-owned sales.

In our area, there were six recent Seattle bank-owned homes that closed for over $1 million. While one might expect these to be mostly waterfront homes, half of them were actually just high-quality, luxury homes that for one reason or another went back to the bank. Buyers of luxury property are clearly seeing past the distressed property designation and realizing that there is a real market for high-end foreclosures.

Seattle’s Million Dollar Foreclosure Sales (Homes sold within the past 6 months):

Arroyo
10859 Arroyo Beach Place, Seattle WA 98126 – $1,075,000

From the listing: “Modern waterfront retreat with 50′ feet on Puget Sound and three stories of stunning views! Soaring ceilings and walls of windows highlight the unobstructed views from this custom built 4,014 square foot home. Huge outdoor living space with 3 decks that are perfect for entertaining. Master bedroom with luxurious master bath and soaking tub. Located on a quiet dead-end street, the boat lift and 3 car garage complete this modern masterpiece!”

Mt Baker
3423 Cascadia Ave S, Seattle WA 98144 – $1,125,000

From the listing: “Enjoy great views of Lake Washington and I-90 bridge from porch and upper deck. Huge windows in most room allowing for a light filled home. Kitchen is designed for you, the cook, the baker, with food prep island, two sinks. Loads of built in Queen Anne style cabinetry. Great yard in back . Bring your creative ideas to make this marvelous home your personal statement.”

Seward Park
5009 S Oregon St, Seattle WA 98118 – $1,150,000

From the listing: “White oak floors accentuate the full-scale freedom of furniture capacity, people flow, stunning bursting view perspectives. A handsome posture of sterling distinction…portrayed by a highly respected craftsman. Enter from garage into elevator lobby or thru secured gated entry. Striking kitchen ~ generously proportioned (12 ft granite island, maple and ebony cabinets, glass tile). Master ste. extends to personal deck; deluxe bath; 2 walk-in closets. Coffered ceils. Home office (guest quarters?).”

Magnolia
3036 23rd Ave W, Seattle WA 98199 – $1,160,000

From the listing: “Magnificent showcase of style & elegance! The views of Puget Sound, Mt Rainier & Interbay will please. One-of-a kind custom home offers an open floor plan on the main level-perfect for entertaining. Full suite of Viking appliances + expansive use of granite travertine throughout. This thoughtful yet sizeable home is ideal for multi-generational living w/top level guest wing + lower level nanny quarters. The mid-level offers 3-beds,lounge,wet bar & more. Each & every room is detailed beautifully!”

Rainier Beach
9954 Rainier Ave S, Seattle WA 98118 – $1,250,000

From the listing: “Highend Luxury – Private lane seclusion on large waterfront lot. Chef’s kitchen, SS appliances, gas range, granite, 2 ovens, Grand master w/dbl entry hallway, fp, jetted soaking tub. Entertaining room w/kitchen & fp. Wired for the finest in technology, surround sound speakers throughout & exterior security cameras.”

Seward Park
5370 S Kenyon St, Seattle WA 98118 – $1,655,000

From the listing: “An extraordinary property: well over half an acre of spectacular manicured grounds leading to 100 feet of waterfront with deep-water dock. Original 1949 home taken down to the studs and completely reimagined over the last two years as a lush contemporary. Granite & stainless kitchen, open living & dining areas, multi-chambered master suite, family room, solarium & more. All new systems including double furnaces & heat pumps. Secure gated courtyard, & garage for up to four cars. Remarkable value!”

Currently, there are over 250 Seattle bank-owned homes for sale, including two for over $1 million.

Tomorrow: Million-dollar foreclosures on the Eastside.

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Posted in Hunts Point WA Homes

Eastside Waterfront Home Sales Stay Strong in October

Nov11
2011

Written by Sam DeBord, Seattle Real Estate Broker

Eastside waterfront home sales continued a healthy pace in October, with 11 homes sold across Bellevue, Mercer Island, Kennydale, Issaquah, Kenmore, and Sammamish. The eleven sales equalled the number of waterfront homes sold on the Eastside in October 2010, and were just one shy of the number of sold homes last month. Since Greater Seattler waterfront real estate sales usually begin tapering off at the end of the summer, the numbers are showing a fairly strong finish to the height of the waterfront season.

Eastside Waterfront Homes Sold, October 2011

MLS#	193894	3009 Mountain View Ave N	Renton	$1,750,000	5	beds,	5.3	baths,	6,020	sq ft
MLS#	234803	1630 72nd Ave SE	Mercer Island	$4,207,500	6	beds,	5.8	baths,	6,071	sq ft
MLS#	264856	4270 Holly Lane	Mercer Island	$6,125,000	6	beds,	7.3	baths,	8,170	sq ft
MLS#	275206	101 101st Ave SE #B302	Bellevue	$475,000	2	beds,	2	baths,	1,681	sq ft
MLS#	211447	375 Shoreland Dr SE	Bellevue	$3,655,000	5	beds,	3.8	baths,	5,660	sq ft
MLS#	229899	2950 W. Lake Samm Blvd SE	Bellevue	$1,700,000	5	beds,	3.3	baths,	4,370	sq ft
MLS#	264424	18806 SE 42nd St	Issaquah	$2,950,000	4	beds,	3.8	baths,	5,380	sq ft
MLS#	206953	1203 E Lk Samm Shore LnSE	Sammamish	$1,285,000	3	beds,	2.5	baths,	2,970	sq ft
MLS#	259706	515 5th Ave W	Kirkland	$1,500,000	2	beds,	1.5	baths,	1,420	sq ft
MLS#	193676	11122 79 Place NE	Kirkland	$2,995,000	5	beds,	4	baths,	5,030	sq ft
MLS#	253915	8006 NE 169th Place	Kenmore	$875,000	4	beds,	3	baths,	3,050	sq ft

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Posted in Hunts Point WA Homes

One Mercer Island Waterfront Home Sold in September, Sales Up 20% Year To

Oct11
2011

Written by Sam DeBord, Seattle Real Estate Broker

Another Mercer Island waterfront home was sold in September, bringing the total of all types of waterfront sales in Mercer Island to 24 for the year. The most-current sale was a 5300 square foot home on West Mercer Way. The 5 bedroom, 5.75 bath home was on the market for just 6 days, listed at $2.885 million and selling at a final price of $2.78 million.

At this point last year, there had been 20 Mercer Island waterfront homes sold. Median prices of waterfront homes in Mercer Island have been fairly flat, with prices near $2.4 million over the past year.

Sold Mercer Island Waterfront Homes, September 2011

8055 W Mercer Way, Mercer Island WA 98040 - $2,780,000, 5 beds, 5.75 baths, 5318 sq ft

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Posted in Hunts Point WA Homes

Three Lake Sammamish Waterfront Homes Sold in Past Two Weeks

Oct03
2011

Written by Sam DeBord, Seattle Real Estate Broker

Three Lake Sammamish waterfront homes were sold in the past two weeks, heating up the real estate market as we head into the fall. Circling the lake, the Bellevue, Issaquah, and Sammamish waterfront homes included two sales that had less than two weeks of time on the market.

The least-expensive sale was a Sammamish home with a private beach shared by three other homes. The 3 bed, 3 bath home was on the market for just 12 days, listed at $625,000 and closing at $600,000. Shared waterfront can be a great way for a buyer to enter the waterfront market at a discounted price, and still have moorage for a boat and beach recreational space.

A Bellevue waterfront home sold for $1.27 million after having been on the market for 6 months and starting at $1.399 million. This home had a typical lot for the south end of W Lk Sammamish Pkwy, a long dock (this part of the lake has a very shallow slope), and the house situated near the street and a nice long backyard leading to the lake.

The top sale was an Issaquah waterfront home with a 90 foot shoreline. After just 10 days on the market, the home sold for just under $1.7 million after being listed for $1.75 million. The nearly-3500 square foot home has 3 beds and 2.25 baths on a 13,500 square foot lot.

Recently Sold Lake Sammamish Waterfront Homes

20413 NE 7th Ct	Sammamish	$600,000	3	beds,	3	baths,	2,000	sq ft
3226 W Lk Sammamish Pkwy	Bellevue	$1,270,000	4	beds,	3	baths,	3,380	sq ft
18810 SE 42nd St	Issaquah	$1,692,500	3	beds,	2.3	baths,	3,498	sq ft

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Posted in Hunts Point WA Homes

Seattle is #2 U.S. City for Fastest Selling Homes

Sep22
2011

Written by Sam DeBord, Seattle Real Estate Broker

Yahoo! Real Estate came out with a recent study showing where homes in the U.S. are selling the slowest and where they are selling the fastest. With all of the negative real estate coverage lately, you’d think that our market is in the doldrums of a big slowdown in sales. Not so, according to this report.

The greater Seattle market was listed as the #2 city in the country for the speed of its real estate sales, tied with San Jose, CA and just behind San Francisco, CA. It just might be possible that the booming technology employment market is pushing these west coast metros with high-paid talent into healthier real estate sales.

From the report:

Median time to sell: 73 days

Median Home Value Index: $347,700

Average Price Cut Amount: $6.88%

Final Discount From List Price: 2%

The final stat is probably the most surprising of all. Despite the talk of huge discounts to buyers, most are actually negotiating fairly small discounts in terms of final sale prices. These numbers seem fairly low in my experience, but they do take into account home buyers who purchase full-price new construction homes without representation, pushing the discount averages lower. We must be seeing more of those transactions with relocation buyers recently. There have also been plenty of bank-owned properties being underpriced to create full-price quick closings. These sales, many times over the list price in the first week, are skewing the numbers vs. traditional resale homes.

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Posted in Hunts Point WA Homes

Two Mercer Island Waterfront Homes Sell In Under A Week – Sales Continue

Sep20
2011

Written by Sam DeBord, Seattle Real Estate Broker

Sales of Mercer Island waterfront homes have continued to push a strong path through 2011, bolstered by two recent waterfront homes selling in less than one week on the market. As the general market seems to be saddled with a flat pace, waterfront real estate sales in Mercer Island are up 28% so far in 2011.

There have been 23 waterfront homes sold in Mercer Island, year-to-date in 2011. At this same point in 2010, there had been just 18 waterfront homes sold, and only 8 such homes sold during 2009′s dismal year of luxury and waterfront real estate sales. The number of multi-million dollar homes being sold are increasingly a testament to the strength of high-end sales in the most sought-after communities in Greater Seattle.

The two most recent sales of waterfront homes were on opposite ends of the island, with the first being a West Mercer Way home on the southwest corner of the island. Sold for $2.78 million, the home was on the market just 6 days. The other sale was on the northeast corner and sold for $3.01 million after just 5 days on the market.

You’ve heard it from me before, but it bears repeating. In this market, a home that is attractively presented, well-marketed, and priced correctly, will sell. There are buyers for every level of real estate in Greater Seattle, but sellers must be realistic about the adjustments in pricing we’ve seen in recent years. Without a realistic price, it’s not worth listing the home.

Recent Mercer Island Waterfront Home Sales

8055 W Mercer Way, Mercer Island WA - 5 beds, 5.75 baths, 5318 sq ft

9434 SE 33rd St, Mercer Island WA – 5 beds, 2.5 baths, 4469 sq ft

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Posted in Hunts Point WA Homes

Six Bellevue Waterfront Homes Sell in August

Sep12
2011

Written by Sam DeBord, Seattle Real Estate Broker

There were six Bellevue waterfront homes sold this August, with prices ranging from just over $300,000 to over $1.6 million. The half-dozen sales were a strong showing for Bellevue, after just four waterfront homes sold in July, and just three in the same month last year.

The least-expensive home is a small rambler on Phantom Lake in East Bellevue, a fixer-upper that was an estate sale. The top waterfront sales of the month were in Pleasure Point, in Southwest Bellevue, and on Crescent Key, on the canals of Newport Shores.

Bellevue Waterfront Homes Sold, August 2011

5869 152nd Ave SE	Bellevue	$750,000	5	beds,	4	baths,	4,430	sq ft
5465 Pleasure Point Lane SE	Bellevue	$1,285,000	4	beds,	2.8	baths,	2,423	sq ft
13 Crescent Key	Bellevue	$1,642,500	4	beds,	3.5	baths,	5,140	sq ft
16222 SE 24th St	Bellevue	$328,000	3	beds,	1.5	baths,	1,540	sq ft
325 131st Ave NE	Bellevue	$572,000	4	beds,	2.8	baths,	2,880	sq ft
13001 NE 28th Place	Bellevue	$647,000	4	beds,	2.8	baths,	2,640	sq ft

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Posted in Hunts Point WA Homes

King County, Seattle Waterfront Home Sales Up YTD 2011

Sep01
2011

Written by Sam DeBord, Seattle Real Estate Broker

Waterfront home sales in King County continue to outpace the previous year’s sales. Sales in the city of Seattle are up just slightly, with 63 waterfront homes sold as compared to 62 at this point last year. Considering the difficult market conditions for luxury and upscale properties, a flat market is a positive sign for most waterfront homeowners.

King County waterfront home sales showed a more dramatic increase, with closed transactions rising 10.6%. 324 King County waterfront homes have been sold this year, up from 293. Waterfront real estate continues to show that its inherent value is still drawing buyers into the market despite slow sales overall.

The segment of waterfront homes under $500,000 is many times composed of a large number of houseboats, which affects sales numbers in Seattle more than King County. Sales of Seattle waterfront homes over $500,000 were actually down slightly for the year, with 46 sales in 2011 and 50 in the previous year. The increase in houseboat sales is probably influenced by the changes in houseboat financing this year, as we had a window of opportunity for lending on leased-slip houseboats that we haven’t seen in quite a while. That window was just recently closed, but may open again soon when the city cements its new shoreline regulations.

Greater Seattle and the Eastside: Seattle Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Posted in Hunts Point WA Homes

Normandy Park Waterfront Homes

Aug02
2011

Written by Sam DeBord, Seattle Real Estate Broker

Normandy Park, just South of Seattle and Burien on Puget Sound, has some of the most serene, idyllic locations for waterfront homes. The small community is filled with tall timbers and has very little through-traffic, making it a quiet and well-kept town.

Homes near the waterfront in Normandy Park range from smaller homes with views of the Sound and the islands, to large modern estates seated right on the saltwater shoreline. The waterfront is also highly varied. About half of Normandy Park waterfront homes sit on lots where the water is easily-accessible, with comfortable slopes, low banks, and sandy beaches. The other half sit high on bluffs, with waterfront access through steep stairways and sometimes ladders. These homes have some of the best Puget Sound views, with panoramic vistas of Vashon Island and the Olympic Mountains.

Waterfront homes in Normandy Park start around $500,000 for a high-bluff home needing some work, and reach a peak of over $5 million for an expansive beachfront estate.

Current Normandy Park Waterfront Homes For Sale – All Active Waterfront Real Estate Listings

19229 Edgecliff Dr SW	Normandy Park	$670,000	3	beds,	1.8	baths,	3,180	sq ft
17999 Normandy Terr SW	Normandy Park	$1,595,000	4	beds,	3.3	baths,	3,400	sq ft
20645 10th Place SW	Normandy Park	$2,195,000	7	beds,	7	baths,	5,250	sq ft
20423 10th Place SW	Normandy Park	$3,250,000	4	beds,	2.8	baths,	5,145	sq ft
1405 SW Shorebrook Dr	Normandy Park	$5,750,000	5	beds,	4.8	baths,	13,350	sq ft

Recent Sold Normandy Park Waterfront Homes For Sale

17529 13th S.W.	Normandy Park	$550,000		beds,		baths,	3,890	sq ft
19203 Edgecliff Dr SW	Normandy Park	$670,000	3	beds,	2	baths,	1,880	sq ft
19253 Edgecliff Dr SW	Normandy Park	$750,000	3	beds,	2.5	baths,	2,649	sq ft

Current Listings: Homes For Sale | Condos | Waterfront | Luxury Homes | Bank-Owned

Source: NWMLS Data – This information was not compiled or published by the Northwest Multiple Listing Service

Posted in Hunts Point WA Homes

Kirkland Waterfront Home Sales Soar in 2011: 26% More Waterfront Real

Million Dollar Foreclosures: Seattle Luxury Bank-Owned Homes

Eastside Waterfront Home Sales Stay Strong in October

One Mercer Island Waterfront Home Sold in September, Sales Up 20% Year To

Three Lake Sammamish Waterfront Homes Sold in Past Two Weeks

Seattle is #2 U.S. City for Fastest Selling Homes

Two Mercer Island Waterfront Homes Sell In Under A Week – Sales Continue

Six Bellevue Waterfront Homes Sell in August

King County, Seattle Waterfront Home Sales Up YTD 2011

Normandy Park Waterfront Homes

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