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Seattle Real Estate Blog

Local real estate news in the Greater Seattle market: Home prices and trends in Seattle, on the Eastside, and across the Puget Sound region. Written by , Managing Broker with Coldwell Banker Danforth and State Director for Washington REALTORS.

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Dec. 10, 2014

3% Down Payments Are Back--And They Pose No New Risk To The Market

Fannie Mae and Freddie Mac announced this week that they will now back mortgages with just three percent down payments.  That means banks, mortgage lenders, and other loan originators will be able to lend more freely to first-time home buyers and others with limited savings but appropriate incomes and credit scores to buy a home.

Real estate and mortgage professionals are encouraged by the change.  Some observers are concerned that this leads us to an environment like the one that caused the mortgage meltdown nearly a decade ago.  Let's get specific as to whether down payments or credit scores really impact default rates.

Borrower Default Rates in 2001, 2004, 2007, 2011, and 2012 (Fannie Mae loans)

750+ credit, 3% - 5% down - 1.2%, 4.1%, 13.5%, 0.4%, 0.1%

Under 700 credit, 20% down - 2.2%, 7.7%, 20.9%, 1.0%, 0.3%

Over the course of the past 13 years, borrowers with sub-700 credit scores defaulted on their mortgage at significantly higher rates, even when they had 20 percent down payments.  In most cases, the low-credit/high down payment borrowers defaulted at a rate nearly twice as high as those with higher scores and less down.  Clearly, the credit scores of the borrowers were far more important than how large their down payment was.  

While there is a slight correlation in down payment size to default rate in the same credit tiers, there are two things to consider here.  The first is that down payments with Fannie Mae are only being moved from five percent to three percent.  That's a small shift.  The second is that default correlation to credit scores is orders of magnitude larger than down payments in all cases.

Here is another example.  Borrowers with 750+ credit scores and five percent to ten percent down, are compared to those with three percent to five percent down:

Borrower Default Rates in 2001, 2004, 2007, 2011, and 2012 (Fannie Mae loans)

750+, 3%-5% down - 1.2%, 4.1%, 13.5%, 0.4%, 0.1%

750+, 5%-10% down - 0.9%, 4.3%, 11.5%, 0.2%, 0.1%

In all of these cases, the default rate is very similar no matter the down payment amount.  The discrepancy rose somewhat in the worst year of our downturn, but at 13.5 percent, it was still significantly less than default rates of lower credit score borrowers with any size down payment.  In effect, the default rates of loans with three percent to ten percent are in the same ballpark.  There's not a significant increase in risk by lowering down payments from five percent to three percent.

For borrowers with scores under 700, we saw default rates from 20 to 35 percent during 2007.  This lower-credit category was where the biggest losses in the credit markets occurred.  We should continue to look at credit history as a strong indicator of likelihood for default.

Credit standards have been significantly improved.  Along with that, we've shrunk the allowable debt-to-income ratios for borrowers, and we've tightened up guidelines for borrowers with past bankruptcies, short sales, and foreclosures.  The lending world today looks nothing like it did in 2007.

Oh, and one other thing.  We actually require that borrowers verify their income and employment today.  As obvious as it sounds, that massive hole in underwriting was one of the biggest factors in mortgage boom lending that caused the collapse.  You can't understate how much that one component of borrower viability affected the defaults rates in the downturn.

We're asking for increased credit scores and income verification, decreased debt ratios, and more stringent background checks in the mortgage market today.  We also require significantly more mortgage insurance for small down payments.  The new Fannie Mae and Freddie Mac loans simply reduce the minimum down payment from five percent to three percent.  That change has been shown, statistically, to have a very minor impact or no impact at all on default rates based on historical data.

We all need to keep an eye on lending standards to make sure we don't repeat our past mistakes.  This minor change in lending is not one of those mistakes.

- Search every real estate listing from every company in Greater Seattle on SeattleHome.com -

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Seattle Homes Group

© Seattle Homes Group
Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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Dec. 5, 2014

Seattle-Area Gets Higher Loan Limits For 2015

Seattle loan limit increaseThe FHFA announced new loan limits for 2015 in many counties across the country.  The Seattle market was one that saw an increase in the size of real estate mortgages available next year, a significant boost in a tight credit environment.

King, Pierce, and Snohomish County saw their loan limits for these GSE-backed mortgages rise to $517,500.  That's up from the $506,000 loan limit for 2014.  FHFA oversees Fannie Mae and Freddie Mac, which are responsible for the secondary market that makes much of the conventional mortgage market feasible.  

While Jumbo mortgages are still available for high-priced real estate markets like Seattle, they often have more strict lending standards than those backed by an FHFA outfit.  Allowing borrowers in high cost markets to borrower larger amounts gives more flexibility to the credit markets and gets inventory moving more quickly.  

From the Realtor blog:

As local median home sale prices rise in the recovery, it will become increasing important that the FHFA keep up with conditions, or borrowers pushed into the jumbo portion of the market may not be able to find financing. In 2015, the agency will increase loan limits in 46 counties. Loan limits are determined at the county level, but are the same across metro areas. Thus, the loan limit for all ten counties in the Denver metro areas was raised from $417,000 in 2014 to $424,350 in 2015, an increase of $7,350. Boulder (4.7% increase), Baltimore (9.5%), and Napa (3.9%), will all experience significant increases in their loan limits, but the largest increase was in the Boston (10%) metro area where the limit will rise by $47,150 to $603,750.

 

The FHFA’s action to raise limits in 2015 will improve access to credit for many borrowers in affected areas. But in the years ahead, the FHFA’s responsiveness to changes in local conditions will grow in importance until health is restored to the jumbo sector.

As the Seattle market's prices continue to rise, we'll likely need to see more adjustments by the FHFA to keep up with local values.  Financing options for homes that are within a normal price range for their local markets are a necessity to keep the real estate market in a healthy growth environment.

- Search every real estate listing from every company in Greater Seattle on SeattleHome.com -

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Seattle Homes Group

© Seattle Homes Group
Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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Nov. 12, 2014

Surprise: Seattle Stats Say Winter Is A Better Time To Buy A Home

I've written before about the opportunities for home buyers in winter.  It's the best time to buy a home if you can brave the weather and the holiday schedule.  Buyers at this time of year have little competition, and sellers know it.  Now, I have statistical evidence to back up the notion.

Seattle winter home prices drop

Here's the simple analysis:  Match up the troughs in the chart above, and you'll see that there's a very consistent pattern every winter.  While the multi-year trends are all upward in direction, when we hit December every year, sellers are listing their homes at lower prices.  At the same time, buyers are negotiating bigger discounts on those homes.  In combination, you're seeing home buyers getting the best prices on homes, by far, during the winter.

The statistics used were very broad.  Over 36,000 transactions in Seattle, recorded on the Northwest MLS, were included.  From early 2011 through late 2014, we looked at the original median listing price, or the price that sellers first posted when they put their homes on the market.  We also looked at the sale-to-list price ratio, which measures how much lower the final selling price was than the advertised listing price.

Remember that Seattle homes prices were going up throughout this entire time frame.  Every year, median prices were higher, but we still had those troughs of list price depreciation in winter.  It frankly doesn't make sense in terms of the market's momentum, but practical factors like buyer scarcity apparently entice sellers to post less aggressive prices on their homes in December.

The same story holds true for the bigger discounts buyers were getting in winter.  Based on low inventory and appreciating market prices, sellers should be holding firm in winter on their prices.  That just doesn't pan out in real life, however, as they statistically allow buyers to negotiate prices down further during the month of December.

Without getting too deep into the details, the median original listing prices in December of each year were 10 to 20 percent lower than their maximum prices in the same year.  Buyer negotiations netted discounts of one to two percent (of the purchase price) more than they did in the best months for sellers, typically April.  That basically meant doubling the discount in terms of raw dollars.  

There are plenty of other factors that could have affected original list prices, including different property types and categories being listed more often at different times of the year.  Still, it's very unlikely that they make up for the entire change in original list prices.  As for the negotiated discounts, the only conclusion we can come to is that sellers are more flexible in a December negotiation.

Winter is the time to buy in Seattle.  Your friends may think otherwise, but they're playing the "nice sunny open house" game, not the "get the best price I can" game.  If you have the ability to buy a home during the winter months, you can take advantage of being that lonely buyer with sellers tripping over themselves to get you under contract.  That's a nice trade off for braving a little bit of cold and rain.

- Search every real estate listing from every company in Greater Seattle on SeattleHome.com -

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Seattle Homes Group

© Seattle Homes Group
Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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Oct. 30, 2014

How To Choose A Seattle Real Estate Agent/Realtor

Choosing a Seattle RealtorChoosing a real estate agent in Seattle is not an easy task.  There are dozens of companies and thousands of agents locally.  Most online guides offer "20 questions to ask a Realtor", but they don't really focus you in on the most important qualities to look for.

Every home seller and every home buyer is different.  

The best real estate agent for you won't be the same as your neighbor.  You might prefer the top selling agent in your neighborhood.  That person might be very busy and have a team that handles the majority of your interaction, but top production numbers might be the status you're looking for.

Your neighbor, on the other hand, might want an experienced agent who can spend plenty of one-on-one time with them directly.  The agent who has a moderate number of clients will be much more available for phone calls, or in-person meetings than the mega producer.

You may want to consider whether or not your real estate agent is a Realtor.  

This distinction isn't always clear to buyers and sellers, but not all agents are Realtors.  The designation is only given to those agents who are members of the Realtor organization.  

Realtors work for property rights and protections for homeowners in your community and give back with their own time and money.  That dedication to the local community is important to many homeowners who make sure the agent they select is a Realtor member.

Consider where the buyers for your home are right now.  

Nine out of ten home buyers are online.  If your agent doesn't have a significant online presence, how will they make your listing stand out where all of the buyers are shopping for homes?  If your home is in a gated community or on a golf course, an agent with lots of local connections like neighborhood associations might be the person who can sell your home to a neighbor quickly.  More and more, though, homes are discovered online and get more offers through online exposure, even from neighbors who are just a few blocks away.  Without a standout online presence, your listing will sit on the big aggregation websites, undistinguished at ten pages deep between thousands of other listings.

If you think that your most likely buyer is online, make sure your agent's listings are discoverable.  Google the agent's name to verify them.  Better yet, Google "Seattle homes" or "Seattle condos for sale".  That's what the buyers are doing, and that's where your home gets discovered.  Agents who show up for those kinds of buyer searches have a unique advantage when marketing your home online.

Experience, marketing skills, and personal likability 

These factors come into play for each buyer or seller in a different way.  Some are looking for the agent with the most years in the business.  Others might prefer a newer agent if he or she has a unique grasp on today's online marketing.  The most important thing, for many buyers and sellers, is that they get along well with the agent.  You'll potentially be working with this person for a few months, so knowing that they're responsive, attentive, and polite will make a big difference in how your relationship works out as you move through the sales process.

Make the process of choosing a Seattle real estate agent your own

Don't feel obligated to quickly choose an agent because they sold the neighbors' house, or the newspaper ad says they're a top producer in Seattle.  Those might be the right agents for you, but without getting to know them personally, you'll never know.  Figure out what you need personally from your agent, and what you need in terms of marketing or searching for a home.  Then spend some time researching online, and finally sitting down with an agent to see if your personalities mesh.  

Your real estate agent isn't just a transactional provider.  They're going to answer your calls at 8 pm on a Thursday, and run out to show a home to you or for you at noon on a Sunday.  They're going to be working on a contract for you at 8 A.M. Monday morning when they need to get it signed and delivered by 11 A.M.  The process can be stressful if you're not working with someone you can talk to directly, see eye-to-eye with, and trust to bring your transaction to a successful close.

Choosing a Realtor in Seattle isn't easy.  If you take your time, though, and really think about what you need as a home buyer or home seller, you'll find that your search will quickly focus you in on the kind of agent that will make your home purchase or sale a much more organized and low-stress process.

New real estate listings in SeattleDetailed Seattle home searchWhat is my Seattle home worth?

Seattle Homes Group

© Seattle Homes Group
Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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Oct. 29, 2014

Bellevue #2 in America's Best Cities To Live

Bellevue was once again near the top of an American livable cities list.  The most recent story was produced by Wall St 24/7.

The outlet measured employment growth, education rates, housing affordability, and crime rates to create a list of the "best cities to live in".  Newton, Massachusetts was the only city to outpace our Eastside enclave.

Housing affordability might be a stat that sticks out to those familiar with Bellevue.  Known for upscale real estate, the city certainly isn't "affordable" across the board.  There are many neighborhoods in East Bellevue, though, that are not as well known but still have access to the city's top-rated school and employment opportunities.  Homes in these areas have affordable pricing compared to much of the Seattle market.

Bellevue was cited for its 5 percent employment growth rate and under 5 percent unemployment.  Based on the commercial and residential building boom locally, the effect of those jobs is obvious. The sales tax was listed as a negative, but that's of course offset by there being no state income tax in Washington.

Almost two-thirds of Bellevue's adults have college degrees.  That stands out against any city in the country, and the local schools show the area's dedication to preserving those high levels of education.

See today's newest listings for sale in Bellevue

 

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Seattle Homes Group

© Seattle Homes Group
Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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Oct. 21, 2014

Seattle Homes Prices Rise 9.7%, Inventory Still Under 2 Months

Home prices in Seattle rose nearly ten percent over the past year, outpacing many projections for the metropolitan market and adding further steam to local real estate atmosphere.  The median home sale price in Seattle sat at $499,000 in September, an increase of 9.7 percent over the same month in 2013 ($455,000).  

Month-over-month, the pricing improved 6.2 percent, a significant jump as we head in to a slower fall market.  Tight inventory might once again make the fall season more competitive than normal.  

Seattle Median Home Prices, Months of Real Estate Inventory Available For Sale

Seattle home prices

 - See today's newest listings direct from the MLS - 

There are still less than 2 months' inventory available in Seattle for single family homes.  That means that the current buyer population would theoretically eat up the entire available inventory within 60 days if no new listings came on the market.  The quick rate at which homes are selling makes for a continued sellers' market.

We've been under 2 months' inventory for most of 2014.  A balanced market should have closer to five months of inventory.  This may be the winter where we finally get some of that inventory back, but rising prices will definitely keep up the competition and motivation for buyers who are in the market.

For home sellers thinking about listing, even the normally slow winter months may be a great time to sell based on buyer motivation in the current market.

Search every home from every company in the Greater Seattle market right now!

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Seattle Homes Group

© Seattle Homes Group
Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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Sept. 23, 2014

NWMLS Areas: Should They Stay Or Should They Go?

NWMLS areasAt the WA REALTORS® Fall Business Conference this year, we had a chance to talk with some NWMLS staff and broker members about past and future changes to our MLS.  One subject that drew a wide range of strong opinions was the value of MLS areas.

Consumers probably have no idea what these designated MLS areas are.  They are boundary maps that change over time with numerical area codes that define large portions of a county.  Real estate agents have used them for many years to subdivide their territories.  

As an example, area 520 is an area of Bellevue west of I-405 including the cities of Medina, Clyde Hill, and the Points.  Area 530 is Bellevue east of I-405 and parts of Redmond.  Area 500 includes parts of Bellevue and Issaquah, South of I-90.  These areas were created back when real estate agents used books to show listings.  They roughly divided up the county into manageable-sized areas which could be used for statistical trending, etc., but aren't particularly intuitive for a home buyer.

Many agents who have used these industry area designations for a long time know and love them.  They've been part of the business process for so long that it sounds ludicrous to some to even present the notion that they might disappear altogether.  Others saw no need for them whatsoever.  Although the conversation was just theoretical, it was good to see the wide range of members' responses to the potential of the area designations going away.

--(Personal commentary--not endorsed by the NWMLS or any REALTOR® organization--

I know and understand why some of my colleagues want to continue using MLS areas.  The problem with these area designations, though, is that they offer no real advantage over the modern geographic searches we already have, and many buyers' agents use them so religiously and inefficiently that they hinder listing agents' ability to get their listings in front of them.  

When a client wants to buy a home near South Lake Sammamish, the agent searches area 530 and finds homes across the entire South and West shores of the lake but misses those homes in areas 500 and 540 which are just a few blocks from the Southern shore.  Buyers' agents' reliance on these search areas forces listing agents to pay double-listing fees to the MLS and attempt to be listed in two areas (a process that highlights the inefficiency).  If the home isn't within 1/2 mile of the "border", they can't double-list it.

While the buyer's agent could have simply used a map search to find more accurate results, many just rely on old habits and use MLS areas.  It happens across our region fairly frequently. If this sounds like just another example of the real estate industry clinging to something old when there's clearly a better way, it is.  

Making our associates' jobs harder

I've had several listing agents complain of having to explain to their sellers that while their home is technically in a buyer's preferred search radius, many of the local buyers' agents only search within their local area's artificial boundary lines which will exclude their home from many of the search results.  What began as a tool to ease agents' use of the MLS has become an artificial hamper to the agent's ability to properly search for a client's next home.  

Our MLS allows us to search by rectangle, search radius, or even multi-point polygon to finely tune home buyers' search results.  The search can be as specific to the client's needs as is physically possible, but so long as the MLS areas exist as search options, the inertia of old habits will drive inefficient search results for buyers and inhibit exposure for sellers.

It has been said by some that we should just leave MLS areas alone, and everyone can use what they want.  You use your favorite tool, and we'll use ours.  That's exactly the problem, though.  Everyone will use their own tools and our clients will continue to be artificially divided into segments which don't serve a business or logical purpose any longer. Our clients are your customers.  If we're all listing for sellers and searching for buyers in different languages, the process of bringing them together will be more difficult.  We know which language consumers are speaking.

Making our MLS's job harder, and its database less effective

From a practical perspective, the MLS areas provide huge logistical problems for the MLS database.  Agents constantly want changes to area borders as communities change.  The database has such a long history of listings with these area codes that it creates a debacle to try to update them every time a community's MLS area border changes.  Constantly changing area borders only makes the database murkier, and drives homes the point that this metric is outdated.  Simply classifying a home by its city, neighborhood, and map location solves all of our geographic-based issues and brings our practices in to the 21st century.

Imagine what newer agents think when they're told that before searching in the MLS and selecting the neighborhoods they know well and serve, they need to memorize that Wallingford is in 705 and Maple Leaf is in 710.  It's just another example of the antiquated system that we've outgrown.  Our MLS search is highly flexible and powerful, until we layer artificial constraints on top of it.

Would we really miss them?

What would we lose if MLS areas went away?  We'd certainly have to change our area-based statistical reports.  Luckily, consumers aren't looking for a report on the quarterly pricing increases for area 500 with partial south Bellevue/North Newcastle/Central and West Issaquah.  They want to know if prices are up in Issaquah.  Are sales up in Wallingford?  Is marketing time going down in West Seattle--not area 140 and parts of area 130, but everything north of Fauntleroy for some, or everything down to the Burien border for others.  The data is supposed to malleable and broadly applicable, not crammed into an industry-defined silo.

We can serve our buyers and sellers, as well as our associates, much better if we transition to a marketplace that uses efficient, modern tools to define the properties we list and sell.  If we leave an inefficient crutch in place, it will continue to be used and slow us all down.  

This is real estate after all.  If we're going to continue to say "Location, location, location," we need say it in a way that our clients and our communities understand.

 

New real estate listings in SeattleDetailed Seattle home searchWhat is my Seattle home worth?

Seattle Homes Group

© Seattle Homes Group
Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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Sept. 5, 2014

15206 238th Place SE, Snohomish WA 98296 - Echo Lake Home For Sale

15206 238th Pl SE, Snohomish WA 98296

15206 238th Pl SE, Snohomish WAThe perfect blend of rural and suburban feel--3 acres stretch from your contemporary home on a cul-de-sac to a wooded path and natural stream. Enjoy views of the wooded surroundings from nearly every room. The remodeled kitchen opens to the bright living and dining rooms, with the family room and den/office just off the entry. Upstairs has a huge bonus room plus 3 bedrooms including the spacious master suite with 5-piece bath, french doors, and skylight. RV parking/elec, A/C, wired for generator

See the full listing

MLS#: 690998

List Price: $535,000

Bedrooms: 3

Full Baths: 2

Half Baths: 1

Size: 2,651

Lot Size (sq ft): 132,422

New real estate listings in SeattleDetailed Seattle home searchWhat is my Seattle home worth?

Seattle Homes Group

© Seattle Homes Group: - Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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Aug. 19, 2014

With Seattle Waterfront Real Estate Inventory Shrinking, Puget Sound and Lakefront Home Prices Climb

Median home prices for waterfront real estate in the Seattle area continue to climb as limited inventory increases buyer competition.  While the overall real estate market may be seeing a slight increase in available homes for sale, the number of waterfront homes listed for sale continues to hold at a very low threshold.

Seattle Waterfront Homes Available For Sale, Median Waterfront Real Estate Prices

Seattle waterfront real estate sales

King County saw a 14 percent drop in the number of waterfront properties listed for sale in the past 12 months.  There were just 260 listings on Puget Sound, Lake Washington, and other nearby lakefront areas this July, while at the same time last year 303 waterfront homes were available.

The lack of inventory and continued price strength in the local waterfront markets points to an increased interest in luxury properties in the greater Seattle region.  Waterfront homes make up a significant portion of the homes sold for over $2 million locally, but the median price of a waterfront property is usually closer to $1 million.

The median waterfront real estate sale for July 2014 was $950,000.  This was 36 percent higher than at the same time last year.  While that stat might appear to show rapid growth in waterfront home values, the small number of homes included and the vast range of waterfront property types makes a median price measurement a fairly unreliable measure.  Median prices were over $1.2 million just a few months ago, and we certainly haven't seen a 20 percent deterioration of prices during that time.

The overall trend for waterfront pricing, however, looks like slow, steady appreciation.  If the projections for the entire market hold true for waterfront homes in Seattle, we're likely to see single-digit price appreciation over the next year.  With a bit more seller listing inventory, we should see healthy sales that are near to the same sales numbers we saw one year ago.

New real estate listings in SeattleDetailed Seattle home searchWhat is my Seattle home worth?

Seattle Homes Group

© Seattle Homes Group: - Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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July 29, 2014

South Sound Waterfront Home For Sale: 6220 SE Arcadia Rd, Shelton WA 98584

Our friend Heidi Gilbert just listed a beautiful lakefront property in the South Sound.  The custom cedar home has a separate studio cabin/guest house, and over 200 feet of waterfront on Forbes Lake.  With over seven acres of land, this property is a wonderful retreat while still being just 20 minutes from Olympia.

Here is the link to the active listing: 6220 SE Arcadia Rd, Shelton WA 98584

 

 

A few details:

• 236ft of Low/No bank Forbes Lake Waterfront, SW Facing

• 3044sqft Custom Cedar home

• 1600+sqft completely wrap around covered porch

• 20 skylights throughout Main home,porch & even in garage

• 70"Sony TV upstairs Included in Sale of home.

• New roof

• Newer Heat pump & Furnance

• Waterford Wood stove ( home has 3 sources of heat )

• Kitchen updates with New glass tile backsplash & counters

• Newer appliances – 2 full size ovens ( one is in the Island )

• Upstairs is plumbed for wet bar – by computer wall 

• New carpet & Flooring

• Excellent Fishing lake - has Bass, Trout, Catfish 

• (No public lake access & only 14 homes on the lake.

• 20 Ft floating Dock

• 360sqft CABIN w/Own its Kitchen & Bath

• 7.62 Acres

• 1035sqft Garage/Shop

• Very Large RV Pad - RV Electric hookup & water

• High Speed Internet & Cable available here, in all rooms

• Only 1 mile to Arcadia Point Boat ramp – For Salt Water too

• Owned Propane Tanks 750 capacity (500 & 250)

• Only 20 mins to Olympia

• Private well – Culigan Water filter system in Garage

• Fire pits up by house & down at Lake

• Powder coated custom black iron gate 

• ADT Alarm system

 

New real estate listings in SeattleDetailed Seattle home searchWhat is my Seattle home worth?

Seattle Homes Group

© Seattle Homes Group: - Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

Stay informed:  Subscribe for automatic email updates

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