Eastside Real Estate Working-for-you!

From a reader: Do you think housing will rebound? Or will we see price declines?

By Greg Perry
Kirkland Realtor

Occassionally I will participate in discussion on Seattle Bubble, a local real estate blog that focuses on the local real estate market.  I was asked the following question yesterday.  I thought I would repost my answer here:

By what goes up must come down @ 142: greg can I ask do you think housing will rebound or will we still see price declines in the next six months? 

Here is an article that I wrote in early 2007 that sums up most of my market philosophy.

 http://workingforyou.typepad.com/feature_article_pricing_t/ 

I work very different than most agents in that before taking buyers out to look at properties, I ask them to come in for a meeting that lasts for 1 - 1 1/2 hours, depending on the amount of questions the buyer has. I use a power point presentation that keeps me on track. For 14 years my “market slide” has shown the following: 

 

1. What is a Buyer’s market? 

2. What is a Seller’s market? 

3. What about appreciation. Will your home appreciate on a daily basis? 

4. What are our seasonal trends? 

5. What’s happening in today’s market. 

This slide kept ME grounded as much as anything could in the huge run up from 2002, as it forced ME to have a frank discussion with EVERY SINGLE BUYER about market appreciation. I have always believed “what goes up must come down”. So, 10% plus appreciation rates were a temporary bonus for some, I never felt this would sustain. My words to every buyer for over 14 years is “all markets correct”, and I believe this.

 Next 6 months? It depends on the neighborhood, price range……and absorption rate. I suspect the high end will continued to be troubled. Whether we believe in government stimulus….. or not….. the gov will do everything it can to throw incentive  at housing to get it going. Watch for more stimulus. In the lower price ranges, I think prices may stabilize in the best neighborhoods. Outlying areas may continue to struggle. 

I really do not like measuring markets MOM  (month over month) by median price, especially with segments of the market, like the high end, eroding overall pricing. When I work with a buyer, or a seller, I do my best to figure out what is happening in their specific market. 

 By the way, I also believe what goes down, will come up.

Life, Liberty and the Pursuit of Happiness - Happy Birthday America!

"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. " What do the words "unalienable rights" mean to you. How about the words "life", "liberty" and the "pursuit of happiness"? Great words to ponder on our Independence Day! Happy Birthday, America!

Homebuyer Seminar -- Introducing 425Homebuyer!

You're invited to a FREE SEMINAR  "How to Buy Your First Home" (or make a move up in this market)

Introducing 425Homebuyer, a seminar where you can learn how to realize YOUR dream of HOME OWNERSHIP!  Your key to YES!

Do you have questions about home ownership, but don't know what questions to  ask?  Don't feel bad, you're not alone!  Join local real estate expert, Greg Perry of Windermere Real Estate, author of 425Realty.com and contributing author to the Seattle Real Estate Professionals Blog and Ron Poborsky, public speaker and local home loan expert with Cobalt Mortgage for a lively and informative seminar on How to Buy Your First Home (or make a move up).

Here's what you'll learn in this FREE seminar:

1. Is it in my best interest to buy a home? 
2. Can I qualify?  
3. What does my credit score say, and how will a mortgage banker look at it? 
4. How much home can I afford to buy? 
5. How should I go about finding the right home?      

And, much, much more! 

 

LOCATION:    COBALT MORTGAGE CONFERENCE ROOM

                  11255 KIRKLAND WAY, SUITE 100

                  KIRKLAND, WA 98033

Date:  Tuesday, July 7

TIME:  6:45 PM

Seating is Limited

Reservations Required!

To Register: email -- info@425lending.com

                   or Call 425-605-3164  

 

Free Credit Analysis! When you attend this Free 1 1/2 hour Seminar, you will also receive a FREE, CONFIDENTIAL CREDIT ANALYSIS, which will help you find out how quickly you can qualify for a home mortgage loan.

 

Urgent! $8,000 Government New BuyerTax Credit   
Ends Nov.30th!

 

 

Remember, there is no cost for this 1 1/2 hour seminar, and no obligation.

PS.  You can come even if you live in area code 206, 253, or 360 (or any other area code)!

 

 

Kirkland Gallery of Garden Tour (and other Eastside information)

Wednesday, July 1, 2009

 

Kirkland Arts Center presents the first annual Kirkland Gallery of Garden Tour Sunday, July 26, 11 AM to 4 PM

 

Kirkland Arts Center is pleased to announce the first annual Kirkland Gallery of Gardens Tour. This event, which takes place on Sunday, July 26, is a fundraiser for Kirkland Arts Center. Proceeds from the Tour support KAC exhibitions, outreach, education programs, and much-needed maintenance and improvements to our historic landmark facility, the Peter Kirk Building. The self-guided Gallery of Gardens Tour begins at 11 AM at Kirkland Arts Center, where ticket holders receive tour maps revealing the gardens' locations upon arrival. The four private gardens, rarely or never before open for public viewing, are all within 1.5 miles of our downtown location. Featured this year are FOUR DISTINCT GARDENS: A Northwest contemporary waterfront retreat featuring sun-drenched Mediterranean plantings beds, Asian-inspired shade gardens, and a hillside vegetable and fruit orchard perched above. An elegant European garden graced by stone terraces and formal fountains with a bounty of organically grown edibles at every turn.   An inviting certified wildlife sanctuary and botanical garden featuring over 300 species of native and Northwest climate-friendly plants and six unique water features scattered alongside a running creek.   A sustainable family garden complete with herb and vegetable gardens, livestock, and a barn and pasture that spread beyond the shadow of one of Kirkland's magnificent historic homes.   ADMISSION TICKETS Tickets for the Gallery of Gardens Tour are now on sale. Ticket prices are just $15 Advance / $20 Day of Event. Your ticket purchase is a fully tax deductible donation to Kirkland Arts Center. To purchase Gallery of Garden Tour tickets: visit us online call us at 425.822.7161 drop by one of our ticket outlets: Kirkland Arts Center Marenakos Rock Center (Issaquah) Ravenna Gardens (Seattle & Kirkland locations) Molbak's (Woodinville) Wells Medina Nursery (Medina) RAFFLE With each purchase of an admission ticket to the Gallery of Gardens Tour, you will automatically be entered in the Gallery of Gardens Tour Raffle. Win a Smith & Hawken teak bench (valued at $600), a truckload of mulch from De Jong Sawdust & Shavings, a gift certificate for The Heathman Hotel, and more. View more incredible prizes here. Additional raffle tickets may be purchased at $3 each, or a set of four raffle tickets for $10. Purchase your raffle tickets at the outlets listed above, or stop by the Arts For All exhibit at Kirkland Uncorked, July 17 to 19. SIGNED LIMITED EDITION ART POSTER Visit us online, in person at Kirkland Arts Center, or at our Kirkland Wednesday Market booth July 8 or 15 to view a special limited edition art poster by artist Bridgett Ezzard, created exclusively for the first annual Kirkland Gallery of Gardens Tour. Each poster will be signed by the artist. Sales of this limited edition artwork further support exhibitions and programs at Kirkland Arts Center. Kirkland Arts Center wishes to acknowledge the generous support of our Tour Sponsors, and YOU, for your support as attendees of our first annual Gallery of Gardens Tour!     I-90 Bridge Closures Coming in July Get ready for major delays starting July 5 as Washington State Department of Transportation (WSDOT) construction crews tear out and replace cracked steel bridge joints on the I-90 floating bridge.  The westbound mainline lanes of I-90 will be closed for up to three weeks and all westbound traffic will be funneled into the two express lanes. It could take an hour or more to cross Lake Washington on I-90. Extra congestion also is expected on SR 520 and I-405 as drivers seek alternate routes. To help avoid congestion, drivers should consider carpooling, vanpooling, taking the bus, shifting their work schedule or working from home. Drivers who leave before 6 a.m. will face the fewest delays. Project information is available at www.wsdot.wa.gov/projects/i90/homerhadleybridgerepair.

King County Homes Continue Brisk Selling Pace

By Greg Perry
Kirkland Realtor

Single family homes, for the 7 day period ending on 6/24/09, King County Pending sales continue to be strong with 575 residentail homes selling.

The Eastside areas had 185 pending sales, second best week of the year.

The Seattle Metro areas had 137 pending sales which was somewhat off the pace of recent weeks.

Here is a breakdown of King County areas, by week, with a 7 week average.

Definitions: Pending sales are all new pending catagories with a pending date during the state period.

Eastside: NWMLS Areas 500,510,520,530,540,550,560, 600.

In City: NWMLS Areas 380,385,390,700,705,701,715,720

Monday's Inspiration -- Resolve

"There is no chance, no destiny, no fate that can circumvent, or hinder, or control the firm resolve of a determined soul."

Ella Wheeler Wilcox

From City of Kirkland: Juanita Beach Closed (until further notice)!

Friday, June 26, 2009 

 

Kirkland’s Juanita Beach Swimming Area Closed Until Further Notice Due to High Bacteria Levels

Water samples taken by King County Department of Natural Resources from Juanita Beach show high levels of bacteria and, as a result, the swim area is closed until further notice.   The average of weekly samples taken as part of the County’s Swim Beach Monitoring Program exceed the County’s bacteria threshold, making the swimming area potentially unsafe for swimming or wading. The source of bacteria is not known at this time.  Resampling will occur early next week.  Updates regarding this closure will be posted to the City’s website at www.ci.kirkland.wa.us.   Beach swimmers are encouraged to call the City’s 24-hour Hotline at 425-587-3860 to check the status of the beach. To view other King County area beach closures go to http://green.kingcounty.gov/swimbeach/Default.aspx.   For more information, contact Marie Stake, Communications Program Manager at 425-587-3021.

Seattle's Eastside Transportation News (From WSDOT)

WSDOT I-405 Eastside Transportation News

Find out how construction on I-90 and other major Seattle-area routes might affect your commute this week

In this issue

• I-90 floating bridge to close on July 5 for major repair work
• Factoria HOV lane to close this weekend
• Gear up to tackle I-90 lane closures
• Give ‘em a brake this summer

 

I-90 floating bridge to close on July 5 for major repair work

Can you work from home or a flexible schedule? Travel to work very early in the morning? Take some vacation time?

If you answered yes and use westbound I-90, start making plans now. Everybody who crosses Lake Washington faces major congestion starting on July 5 when we completely close the westbound mainline lanes of the I-90 floating bridge.

We’re funneling all westbound traffic into the two I-90 express lanes while we make safety repairs to the bridge. Additional travel delays on westbound I-90 are predicted to be 30-60 minutes or more depending on how many drivers change how or when they commute.

It likely means severe congestion on westbound I-90 – worse than the hour-long commutes we saw from Issaquah to Seattle in May when we closed just the I-90 express lanes for similar work.

The best bet for commuters will be to set their alarms an hour or two early and leave no later than 6 a.m. on weekdays.

Some good news: While delays will be severe for two straight weeks, we are paying the contractor to finish by July 20. That’s more than a week earlier than the July 28 we previously planned.

For Mercer Island drivers: Plan ahead and choose which of the two westbound I-90 ramps you will use to get to Seattle. Only 77th Avenue SE and Island Crest Way will be open for westbound drivers.

During commute times, a detour will be posted for drivers to queue up to get to the 77th Avenue SE on-ramp. We hope this will keep traffic moving through the central business district and allow transit to access the ramp. See the detour maps online.

 

Factoria HOV lane to close this weekend 

If you’re heading to downtown Bellevue on northbound I-405 this weekend give yourself a little extra time to get to your destination.  The HOV lane between Coal Creek Parkway and I-90 will be closed from 9:30 p.m. on Friday, June 26 to 5 a.m. on Monday, June 29.  We’ll also close an additional lane each night Friday thru Sunday.  For specific closure times please visit our I-405 construction updates Web site. The closures will allow crews to pour concrete to connect the existing carpool lane to a different bridge that spans I-90.  

 

Gear up to tackle I-90 lane closures

With the westbound I-90 mainline closed July 5-20, biking across the bridge is a great way to avoid traffic congestion and get in a little exercise at the same time. Need some help preparing for the two-wheeled commute? Attend Introduction to Bike Commuting: It’s How We Roll at noon on Wednesday, July 8. It’s a free, one-hour workshop led by Cascade Bicycle Club and hosted by TransManage to help you learn the bicycling basics at the TransManage office in downtown Bellevue,  500 108th Ave NE, Suite 210.  To reserve your spot contact Melissa Burkett by Monday, July 6.  If you can’t make the class, you can go online for more information about commuting by bike across the I-90 bridge.

 

Give 'em a brake this summer

Construction season is in full swing and as we complete different highway projects on around the Puget Sound Region this summer, you'll see several crews working behind orange construction barrels – in some cases working just a few feet from live traffic. As a reminder, we’re asking you to give highway and maintenance crews a break.  Close to 99 percent of people injured or killed in work zone collisions are drivers and passengers. So slow, down, pay attention and give yourself a little more room between you and the car in front of you.

Bothell Listing -- Pristine 3 BR, 2 BA Juanita area Condo in Wild Glen

Bothell listing:
Gorgeous, spacious 3 bedroom, 2 bath condo that is clean as a whistle!

Greg Perry | Windermere Real Estate/NE | 425-829-7012 14401 100th Ave NE Unit 901, Bothell, WA Pristine 3 Bedroom, ground floor, end unit Condo in friendly north Juanita. 3BR/2BA Condo offered at $259,950 Year Built 1980 Sq Footage 1,277 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking Unspecified Lot Size 771,447 sqft HOA/Maint $280 per month DESCRIPTION Finally a gorgeous, spacious 3 bedroom condo that's so clean it sparkles! The elegant living room has many decorator touches including a custom wood burning fireplace. The master bedroom has its own master bath and walk-in closet. The kitchen is large and bright with plenty of white cabinets with large counters. You'll love the cozy patio with the privacy screen garden. Located just minutes from I405 and Juanita shops and services. see additional photos below PROPERTY FEATURES Fireplace Walk-in closet Living room Office/Den Dining room Dishwasher Refrigerator Stove/Oven Washer Dryer Laundry area - inside Balcony, Deck, or Patio Yard COMMUNITY FEATURES Guest parking OTHER SPECIAL FEATURES Lovely living room with decorator touches. Kitchen is clean and functional with plenty of cabinetry and counter space. Beautiful patio area with privacy screen garden. Minutes from I 405 and Juanita neighborhood shops and services. Master bedroom with private bath and walk-in closet. ADDITIONAL PHOTOS Lovey 3 BR End Unit Elegant living room. Bright kitchen. Dining room Master bedroom and bath. Patio with privacy screen Contact info: Greg Perry Windermere Real Estate/NE 425-829-7012 For sale by agent/broker Equal Opportunity Housing Posted: Jun 24, 2009, 11:14am PDT

City of Kirkland Tree Regulation -- Upcoming Amendment Meetings

Tuesday, June 23, 2009

TREE REGULATION AMENDMENT MEETINGS   In November 2005, the City Council adopted Kirkland Zoning Code Chapter 95 - Tree Management and Required Landscaping.  In fall 2008, the City Council asked staff to pursue amendments which involve 'minor' and 'moderate' code changes and/or policy implications.  Information regarding the proposed changes can be found on the City’s Tree Regulation Amendment project website.   The City is requesting feedback from developers, consulting arborists and other tree care professionals, the general public, and property owners regarding the proposed changes.    The meeting dates are:   Developers/Builders: Tuesday, July 7, 2009.  10:00 a.m. to 11:30 a.m.   Consulting Arborists & Other Tree Care Professionals: Wednesday, July 8, 2009.  3:00 p.m. to 4:30 p.m.   General Public/Property Owners: Tuesday, July 14, 2009.  6:00 p.m. to 7:30 p.m.   The meetings will be held at City Hall (123 5th Avenue, Kirkland) in the Peter Kirk Room (south entrance).   Please let us know which meeting you plan on attending.  If you cannot attend your respective meeting, feel free to email us your comments on the proposed changes.   The meetings are informal and are meant to obtain input on the proposed changes from the perspective of the various groups.  The information will be relayed to the Planning Commission and Houghton Community Council for their consideration.   Interested parties can be informed about proposed updates and opportunities for public participation by visiting the City’s Tree Regulation Amendment project website  and by subscribing to receive email updates.   Jon Regala, Project Planner jregala@ci.kirkland.wa.us 425.587.3255   Deb Powers, Urban Forester dpowers@ci.kirkland.wa.us 425.587.3261