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This is a fun recap of Windermere for Kids Day. Three out of four years, Windermere East, Inc uses our holiday party money to provide Christmas gifts for local families. It’s an elaborate process of first finding the families—my office’s families came from Lake Hills Elementary—then meeting with the families to create wish lists for each member of the family. Then, we meet at 8 AM at Target and shop with a child (the ‘little shopper’, who has been pre-shopped for) from that family. Presents are then wrapped while the families enjoy snacks, crafts and photos with Santa. It’s a feel-good day with meaningful results. Many ‘little shoppers’, including mine, are not allowed to be photographed, so you won’t see me, but I was there enjoying every minute. Thanks Windermere!
November Eastside Stats
November stats are in! The market appears to be stabilizing with both October and November having 2.4 months of inventory. Anything less than 3 months of inventory is a Seller’s Market, so we are in a Seller’s Market. Home that are in good condition and well-priced will sell quickly and might go over the asking price. 14% of the homes in November closed over asking price versus November 2017 where 43% sold over asking price (when months of inventory were crazy low at 0.8 months).
Year-over-year we are showing an 11% increase in median pricing; however, this includes condos. If you remove condos from the mix the year-over-year price increase is 4%–this feels more accurate.
Buyer activity in December is strong and there are deals to be had. It’s a great time to be both a buyer and a seller. I can’t wait to see if we will have the typical surge in activity this January.
Complimentary Santa Photos Tomorrow!
We are ready for Santa’s visit tomorrow! Please join us if you can! Details:
11 AM to 2 PM–Dogs welcome from 1 PM to 2 PM
Windermere, Bellevue South, 14405 SE 36th St, Bellevue
Photos will be emailed to you a few days after the event.
Where Are Home Prices Headed?
Home price increases in the Puget Sound area have started to moderate. While down from the unsustainable highs of this spring, prices continue to be up compared to a year ago. So, where are home prices headed next?
The Home Price Expectation Survey checks in with over 100 national real estate experts every quarter, including Windermere Chief Economist Matthew Gardner. Here’s where they think prices will go:
Gardner predicts our local market will fare better than the nation overall.
“As I look to 2019, I believe home prices in King County will increase 7.8% over the current year.”
– Windermere Chief Economist Matthew Gardner
“The local economy will continue to grow and that will drive demand for ownership housing,” according to Gardner. “Supply will slow during the holiday season before we see a new influx of listings in the spring. With more supply, I believe that home price growth will continue to slow, but values will still increase.”
Seattle Mariners Ticket Give Away
Saturday, August 6th is the Ken Griffey Jr. Number Retirement Ceremony, and Sandi Tampa Real Estate has two sets of 2 tickets to give away! If you want to 'play' simply go to my Sandi Tampa Real Estate Facebook page (https://www.facebook.com/Sandi-Tampa-Real-Estate-198947938351/) and make a comment on the ticket give away post. I will select 2 names/winners on Monday (8/1) night.
Don’t Sell too Quickly
I often hear people enthusiastically say: “They/I sold the house in a day!”. I cringe because I know the seller has probably left money on the table. The below stats (2015 King County single family home sales) beautifully illustrate the point. Controlling the market exposure to 5 to 7 days will optimize your sales price. Selling a home is more than just sticking a sign in the yard—there is an art and a science to optimizing your bottom line.
Wedgwood Fun
This darling Wedgwood listing is fun! First, it’s heartwarming to have repeat clients who trust me with the sale of their childhood home. Then, the sellers followed our pre-listing advice—pre-inspect, address some inspection issues, some prep, tidy the yard, and invest in staging—and, as anticipated/hoped, the market response is off the charts. I thought the Bellevue market was insane—take it up 2 notches for Seattle. What is extra nice is the high caliber of brokers on the other end. Offer review is tomorrow. It will be interesting to see what happens.
Here is a link to the listing: http://sanditampa.com/listing/WA/Seattle/8762-25th-Place-NE-98115/42945695
Just Listed in Bellevue
Just listed! Secluded home with Bellevue Schools. Please join me for tomorrow's open house from 11 AM to 1 PM or on Sunday from 1 PM to 4 PM.
http://sanditampa.com/listing/WA/Bellevue/15835-SE-43rd-Place-98006/42935935
Strong Seller’s Market Continues
The Eastside market continues to be a strong Seller’s Market. There simply isn’t enough supply for the buyer demand. Interestingly, in the last few weeks, the single family home market has seen over priced homes not sell in a weekend (which is a lifetime in this market). Time will tell if this was a Spring Break induced lull or if there has been a slight shift. That said, the condo market is continuing to experience rapid appreciation.
Here is a link to the Eastside single family home stats: http://sanditampa.com/eastside-market-stats/ Anything less than 3 months of inventory is a Seller’s Market. We are 1.3 months based on Closed sales and 0.9 months based on Pending sales.
Contact me if you want to discuss your home’s value or if you want to learn strategies for winning multiple offers.
Sold in 4 Hours!
Listed this condo on Thursday and was Pending in 4 hours. Normally, we do an offer review period that runs through the weekend. In this situation, the seller received an offer they couldn’t refuse, from a buyer who has been beat-up by the market. Beyond happy for my client and the buyer. It’s truly a win-win. I love my job!
Click this link for more info: Tanglewood Condo
