New Waterfront Listing – Mercer Island

Spectacular panoramic southern Lake Washington views. Superior finishes throughout this 5 bedroom, 5.5 bath home. 4,670 square feet. Walls of windows envelop the expansive living room; the wood and metal wrapped fireplace anchors the space. Inviting master suite with spectacular lake views and a sumptuous 5-piece bath. The lower level is complete with theater room, recreation room and wine cellar. Two outdoor living rooms. 65′ of prime waterfront with substantial dock, accented by a lush lawn and professional landscaping – ready for summertime enjoyment!  Offered at $4,495,000

A shift in sales: great news for sellers

For the first time in years, local sales are outpacing new listings in the NWMLS.

“NWMLS members reported 6,103 pending sales during November, marking the seventh straight month of double-digit, year-over-year increases. Last month’s total number of mutually accepted offers was 22.4 percent higher than the same month a year ago.” – mynorthwest.com

 

‘Tis the Season

I’m not sure how it happened so quickly but December has shown up on our doorstep! Amid all the holiday hustle and bustle, I hope you take time to enjoy the sounds and sights in your community.  Here are just a few of our favorite local holiday events:

Magic Season Ice Arena: November 25 – January 8, Bellevue Downtown Park.  $10 admission, includes skate rental fee.  www.magicseason.com

Snowflake Lane: Nightly at 7pm, November 25 – December 24, Bellevue Collection.  Free fun for all, with music, dancing and even the magic of a little snow.  www.bellevuecollection.com

Garden d’Lights: Open nightly 5-10pm, November 26 – December 31, Bellevue Botanical Garden. $5 admission, kids 10 and under free. Free admission on December 5-7 and 12-14 courtesy of KeyBank.  www.gardenlights.org

Happy Holidays, may your season be bright!

Sunday Open House in Kirkland: October 30th, 12-3pm

Open this Sunday from 12-3pm, this home has been nicely updated with new carpet, tile flooring and paint as well as bathroom fixtures and vanities with slab granite. Inviting living room with vaulting ceilings and fireplace. Newly updated kitchen: slab granite countertops and stainless steel appliances. Deck and patio; nicely landscaped, fully fenced backyard. Close to shopping, dining, parks and I-405. Move in ready! Offered at $349,000 – Click here for more property details.

Kingsgate - offered at $349,000

Northbound I-405 closed in Bellevue this weekend, weather permitting

The WSDOT plans to close northbound bound I-405 through the downtown Bellevue corridor this weekend to put the finishing touches on rerouting highway 520-bound traffic from the south.  Once reopened on Monday morning, commuters will access headed to 520 from downtown Bellevue will access the on-ramps via NE 10th Street, and those already on I-405 will access the on-ramps about a half mile earlier than before the switch.  Click here for more info and updates on the closure.

The Price is Right

Given the current economic condition, pricing your home correctly is more important now than ever. In a predominately buyer’s market, a well-priced home will be perceived as a good value and has a much higher chance of selling in a significantly shorter timeframe. The National Association of Realtors statistics state a home priced at fair-market value will typically sell within 4-6 weeks, within a few percent of the list price.  However, overpricing by just 5-10% can drastically impact the time on market and percentage of dollars gained in comparison to the list price.  Here is a great reference for time on market vs. percentage of list price achieved:

These statistics show that after sitting on the market for 6 months, the seller will agree to come down in price an average of 7% in negotiations to get the sale, essentially putting them in the same price point they should have been in from the beginning.  Not only has the seller been inconvenienced for 6 months with showings, they have endured as many months of mortgage payments and property maintenance.  The major caveat to consider is that this is based on a flat market.  If the values continue to slip, your final sale price will be impacted by that percentage as well.  In the end, it’s best to be as realistic about price as possible and garner the most attention from buyers as quickly as possible.

East Link light rail: open house for Bellevue residents

Interested in the light rail plans and the impact on the South Bellevue neighborhoods? Make sure to attend an open house at Bellevue City Hall on Tuesday, September 20th from 4:30-6:30pm.  Click here for more info.