Remodeled tri-level on expansive lot in Rosewood on English Hill in Redmond

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Listed at $600,000
Complete details here

Wonderful tri-level home on a quiet street in Rosewood on English Hill. The open floorplan boasts 1,890 s.f. and features 3 bedrooms, 2.75 baths on an expansive lot. The list of recent updates include: Outside – freshly painted exterior. Inside – completely updated kitchen and lower bath.

The spacious formal living room has a vaulted ceiling, fireplace and large bay window overlooking the front gardens. The dining room has a slider to the patio – perfect for BBQing or entertaining. Updated kitchen with ample maple cabinets, stone counters, induction cooktop, instant hot water dispenser, stainless appliances and island. Relaxing family room with new carpet, brick wrapped fireplace and slider to the patio. The lower bath has been updated with heated tile floors and the adjacent laundry area includes front loading washer and dryer too!

Generous master bedroom with fireplace and a wall of closets. The attached 5 piece bath includes a new tile floor, double vanity, shower and an oversized soaking tub. Two additional bedrooms are spacious. The hall bath has an oak vanity, tile floor, updated countertop and fixtures.

The huge, flat yard is a wonderful place to entertain, relax or play. Two separate patios, ample room to garden, large lawn for play – all with beautiful trees as your backdrop. Two car garage attached with heat and technology panel.

Outstanding Northshore schools – Sunrise Elementary, Timbercrest Jr High & Woodinville High.

Burnstead Resale – Updated two story home on quiet cul-de-sac on English Hill in Redmond

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Listed for $625,000
Complete details here

This Burnstead resale has been recently updated and located in the desirable neighborhood of Amberley on English Hill. The open floorplan boasts 1,970 s.f. and features 3 bedrooms, 2.25 baths on a lush lot. The list of recent updates include: Outside – high quality roof, extensive stamped concrete & updated windows. Inside – rich hardwood floors, travertine tile floors and an updated kitchen too!

The spacious formal living room has a large bay window overlooking the front gardens. The dining room is a great place to share a meal with friends. Updated kitchen with ample oak cabinets, concrete counters, black appliances, island – a pantry closet too. Relaxing family room with travertine floors, brick wrapped fireplace and slider to the patio – perfect for BBQing or entertaining. Nicely appointed powder room for your guests.

Generous master bedroom with separate sitting area/den and walk-in closet. The attached bath has an oversized double vanity and double shower – all finished in tile. Two additional bedrooms are spacious. The hall bath has an oak vanity, travertine tile floor and a shower over the tub.

The huge, stamped concrete patio features an outdoor kitchen and plenty of room to entertain. There are two custom ponds with waterfalls and ample room for gardening or play under a canopy of beautiful trees. Laundry room with extra storage cabinets. Attached two car garage with storage possibilities above.

Outstanding Northshore schools – Sunrise Elementary, Timbercrest Jr High and Woodinville High.

Sold for $202,550 Above the Seller’s List Price – Leads to Profitable Move Back Home!

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Tony did an excellent job in marketing our home. The professional video home tour, photos, and brochures drew the attention of many potential buyers, resulting in 9 offers on our home, and a sale well above our asking price. Specializing in the English Hill neighborhood, Tony is quite knowledgeable, professional and a pleasure to deal with! I highly recommend Tony as your real estate expert.

Todd and Kim Lindstrom – Sold in Redmond

Whether You Rent or Buy, You’re Paying a Mortgage

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There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either yours or your landlord’s.

As The Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return.  

That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

Christina Boyle, a Senior Vice President, Head of Single-Family Sales & Relationship Managementat Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person with that equity.

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were 3.43% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.

Home Values: DEFINITELY NOT in Bubble Range!!

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There are some industry pundits claiming that residential home values have risen too quickly and that current levels are on the verge of another housing bubble. It is easy to see how this thinking has taken form if we look at a graph of home prices from 2000 to today.

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The graph definitely looks like a rollercoaster ride. And, as prices begin to reach 2006 levels again, it “seems logical” that the next part of the ride would be downhill. However, this graph includes the anomaly of the price bubble and the correction (the housing crash).

What if the bubble & bust didn’t occur?

Let’s assume that instead of the rise and fall in home prices that we saw last decade, we just had normal historic appreciation from 2000 to today. According to the 100+ experts that are surveyed for the Home Price Expectation Survey, normal annual appreciation for residential single family homes from 1987 to 1999 was 3.6%.

Starting with the median home price in 2000, we added 3.6% to it each year since then. Here is that graph intermixed with the above graph.

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What this shows us is that, had the bubble and crash not occurred and instead we just had normal annual appreciation over this period, prices would actually be greater than they are today.

Bottom Line

There is no reason for alarm as prices seem to be right in line with where they should be.

5 Reasons to Sell This Fall

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School is back in session, the holidays are right around the corner, you might not think that now is the best time to sell your house. But with inventory below historic numbers and demand still strong, you could be missing out on a great opportunity for your family.

Here are five reasons why you should consider selling your house this fall: 

1. Demand Is Strong

The latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market at 4.7-months.

This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market this fall.

Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase over the next two years, reaching historic levels by 2017. Last month’s new home sales numbers show that many buyers who have not been able to find their dream home within the existing inventory have turned to new construction to fulfill their needs.

The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

Fannie Mae announced that they anticipate an acceleration in home sales that will surpass 2007’s pace. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler. 

4. There Will Never Be a Better Time to Move Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.3% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

According to Freddie Mac’s latest report, you can also lock-in your 30-year housing expense with an interest rate around 3.46% right now. Interest rates are projected to increase moderately over the next 12 months. Even a small increase in rate will have a big impact on your housing cost.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire. 

That is what is truly important.

Sprawling Two Story Home in Stately Redmond Neighborhood of Bristol View

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Listed at $1,200,000
Complete details here:

This custom built home has been completely remodeled and is located on a private 34,999 s.f. lot. Ideally positioned in the easily accessible Bristol View Neighborhood of Redmond, the home features 4 bedrooms, 5 separate bathrooms, den, bonus, rec. room, craft room, 4,950 s.f. and a park-like lot.

Wonderful home for entertainment with cozy spaces in a flowing layout. Craftsmanship shows throughout with ample molding, wainscoting and rich hardwood floors. Formal living room with fireplace and bay window. Elegant dining room is perfect for a dinner party. Relaxing family room with brick fireplace, wet bar and French doors to patio. Private den with wood, box beam ceiling.

Chef’s kitchen includes: Five burner gas cooktop, double ovens & trash compactor. Ample cabinets with stone counters, island and pantry cabinets too! Light-filled nook opens to deck and patio. Covered and uncovered areas allow for year round enjoyment.

The lush, main floor master is a welcome retreat at the end of the day. Delightful 5 piece master bath with jetted tub, double shower, “His & Hers” vanities, toilet closet – all finished in beautiful stone and tile. Walk-in closet too!

Three spacious guest rooms upstairs. There is a 4th room with a closet and laundry connections – perfect as a craft room. Two remodeled baths await your guests.

Big bonus room is a perfect space for play. The rec. room is above the garage with its own staircase – perfect for a teen space or a home theater. Oversized mud room area with 1/2 bath, laundry with storage cabinets and access to the basement.

Stunning yard is your own private park! Deck, covered and uncovered patios, fire pit, ample trees for privacy and an expansive upper lawn area for play.
Outstanding Northshore Schools – Sunrise Elementary, Timbercrest Jr. High & Woodinville High.

NWMLS Market Report August 2016: Housing market still active, direction “positive”

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KIRKLAND, Washington (Sept. 7, 2016) – Home sales in Western Washington continued to outpace year-ago activity, but member-brokers at Northwest Multiple Listing Service say persistent inventory shortages are constraining activity.

Despite a sparse selection in many areas, an expected summer slowdown, and “appraisal conundrums,” Northwest MLS members notched 11,898 pending sales during August, eclipsing the same month a year ago by 1,295 transactions for a 12.2 percent gain. There were 8,628 pending sales in the four-county Puget Sound region — the best August for mutually accepted offers since 2005 when members tallied 8,874 sales.

Brokers added 11,411 new listings to the Northwest MLS database during August, but they presented offers for even more buyers (11,898) to keep inventory below two months of supply. At month-end, there were 18,336 active listings in the MLS system, a decrease of 11.6 percent from a year ago, resulting in only 1.9 months of supply. (Four to six months is generally considered to be a “neutral” or balanced market for buyers and sellers.)

“The market remains just as intense as July,” observed J. Lennox Scott, chairman and CEO at John L. Scott, Inc. “The best opportunity for homebuyers to find a home will be in the next 60 days,” he suggested, explaining the number of new listings coming on the market is likely to drop by 50 percent each month between November and February. “We expect a repeat of conditions from last winter when every available home that came on the market in areas with a shortage of inventory received quick action.”

“Buyers in the Seattle area are plentiful in all price ranges, but the entry-level housing demand continues to be the highest,” reported John Deely, principal managing broker at Coldwell Banker Bain. As an example, he said a recent open house for a condo listing in the South Lake Union area drew more than 100 visitors in a single day. Tech workers continue to dominate the primary buyer demographic, he said, adding that a significant number of their parents are relocating here to purchase properties close to their children.

Buyers in most of the 23 counties served by Northwest MLS can expect to pay more than they would have twelve months ago, with most areas showing double-digit year-over-year price increases. System-wide, the median price for last month’s 9,767 closed sales of single family homes and condominiums was $350,000, up more than 11 percent from the year-ago figure of $315,000.

In King County, the median price on 3,656 sales that closed during August was just under $500,000. That’s up nearly 11 percent from the year ago figure of $450,700, but slightly lower than July’s median sales price of $505,000. Prices on single family homes (excluding condos) that closed in King County jumped 10 percent year-over-year, rising from $499,950 to $550,000.

Condo prices area-wide surged nearly 16 percent from a year ago, rising from $258,750 to $299,950. King County has the highest median sales price at $335,000, which is a 12 percent jump from a year ago. That county also has the most meager supply of condos, with only 28 days or so (0.91 months).

“We expect median prices to continue to increase, and likely at an accelerated pace through the fall,” said Mike Grady, president and COO at Coldwell Banker Bain. He attributes the anticipated increase to shrinking inventories.

Grady, a past chairman of the MLS board, also noted that the price gap between homes in King County versus Pierce and Kitsap counties is narrowing. Both counties experienced higher percentage price gains than King County, while Snohomish County trailed. There is a difference of $250,550 in the price of a single family home in Kitsap County versus King County, and a gap of $265,000 when comparing Pierce County prices with those in King County, according to the latest MLS statistics. Snohomish County’s prices are $150,000 lower than King County’s. “It’s possible demand is shifting to the lower prices of Pierce County where commuting times into King County are similar [to Snohomish County’s],” he remarked.

Northwest MLS director Dick Beeson, of Pierce County, also commented on prices, noting steady gains. “For the first eight months of 2016, South Sound real estate has had quite a ride.” MLS figures show last month’s median price for single family homes and condos that sold in Pierce County, at $283,225, is up 18 percent since January. “These increases occurred despite the headwinds of continued inventory shortages,” said Beeson, the principal managing broker at RE/MAX Professionals.

Beeson reported 2007 sales prices have once again been achieved in South Sound, adding “It took nine years of slugging our way back, but we’re here. Sellers who bought in 2007 have finally stretched their necks above water.”

Even though South Sound brokers have averaged monthly double-digit increases in new listings in an attempt to satisfy the buyer pool, Beeson noted strong pending sales in that region have resulted in less than two months of supply. Continued inventory shortages, strong consumer confidence, solid job creation and good salaries are factors he cited for the robust activity. “It’s a good time to buy real estate and wait,” he suggested.

Multiple offers are still in play, according to brokers George Moorhead and Diedre Haines.

“Well-priced homes are seeing multiple offers,” reported Moorhead, a member of the Northwest MLS board of directors and the designated broker at Bentley Properties in Bothell. Unlike earlier in the year, he said sellers who have held off listing their homes are seeing buyers less willing to push up prices. Moorhead also said some buyers are expressing concerns over possible interest rate hikes. “Some buyers who indicated they would hold off until spring are now moving into the market just to beat the interest rate increases,” he stated.

Haines, principal managing broker, South Snohomish County for Coldwell Banker Bain, described the market as being in the “midst of the summer slowdown – but not as slow as usual.” Healthy appreciation rates and low interest rates are sustaining activity, according to the veteran broker. She anticipates a post-Labor Day uptick, but said the forthcoming election is causing “confusion, distraction and frustration” with potential negative impacts for the fourth quarter.

Along with low inventory resulting in multiple offers on some listings, Haines said brokers continue to struggle with low appraisals. “Given the current market demand these low appraisals are extremely hard to understand and accept,” she remarked, adding, “The delays are creating closing date extensions and added stress for buyers, sellers and lenders — and in some cases, failed sales. These issues are hurting the overall market,” suggested Haines, a past chairman of the MLS board.

Deely said some sellers are pushing the price of their properties to the upper end of the value range. “We are seeing more properties go past their offer review dates, and the resulting price reductions on overpriced properties chase the market down.” He said most sellers understand that today’s buyers are more cautious of properties that don’t draw offers in the first two weeks so they make quick adjustments to spur offers.

MLS director Frank Wilson, the branch managing broker at John L. Scott, Inc. in Poulsbo, noted August is typically “front-end loaded” as it slows the last two weeks when families prepare for back to school and getting in an end-of-summer trip. Wilson, the immediate past chair of NWMLS, also suggests buyers can expect more open houses on Saturdays now that football season is under way and attention shifts to “Seahawks Sundays.”

Washington and other states in the West are maintaining sales momentum, unlike other regions in the country. “Severely restrained inventory and the tightening grip it’s putting on affordability is the primary culprit for the considerable sales slump throughout much of the country” in July, stated Lawrence Yun, chief economist at the National Association of Realtors®.

Commenting on NAR’s statistics for the month of July, Yun said Realtors are reporting diminished buyer traffic because of the scarcity of affordable homes on the market. “The lack of supply is stifling the efforts of many prospective buyers attempting to purchase while mortgage rates hover at historic lows.”

In NAR’s latest market report, the group’s president, Tom Salomone, a broker from Florida, said in addition to affordability concerns, appraisal complications are appearing more frequently as the reason why a contract signing experienced a delayed settlement. NAR figures indicate appraisal-related contract issues were the root cause of more than one-fourth of contract delays in the past three months.

Looking ahead, Beeson believes “more of the same is on the way,” adding, “Buyers are fortunate to have low interest rates” and replenished inventory. OB Jacobi, president of Windermere Real Estate, said even though the market continues to favor sellers, there are signs it is slowly starting to shift. “We’re still a far cry from a balanced market, but the overall direction is positive.”

Northwest Multiple Listing Service, owned by its member real estate firms, is the largest full-service MLS in the Northwest. Its membership of nearly 2,100 member offices includes more than 25,000 real estate professionals. The organization, based in Kirkland, Wash., currently serves 23 counties in Washington state.

Craftsman Home with 150 feet of Riverfront on the Raging River in Issaquah

10421 324th Pl SE, Issaquah-2

Listed at $595,000

Beautifully maintained and updated two story home in the desirable Upper Preston area of Issaquah. The great room style floorplan boasts 1,780 s.f. and features 3 bedrooms and 1.75 baths. The home is ideally positioned on a 71,002 s.f. lot with lush trees and 150 feet of frontage on the Raging River. Recent updates include – new wood floors, updated kitchen and baths.

The great room is an inviting space with soaring ceilings, a gas fireplace and is drenched in light from the large windows and skylights. The dining area is a great space to share a meal with friends. It features seating for 8 and built-in benches with storage. French doors provide easy access to the deck and covered area which is perfect for entertaining or BBQing. Updated kitchen with abundant cherry cabinets, ample slab granite counters with leathered finish, new stainless appliances, breakfast bar and pantry closet too! The main floor laundry room has new flooring, storage cabinets and includes a front-loading washer & dryer.

The main floor master is a welcome retreat at the end of the day. Big windows overlook the yard and a slider to the deck and hot tub. The attached bath is updated with tile floor, new shower, double vanity, huge soaking tub, ample built-in storage and a walk-in closet too!

Upstairs you will find two spacious guest rooms with soaring ceilings, a private deck and a tastefully appointed 3/4 bath in between the two bedrooms.

Amazing setting and yard! Huge shop with office area, storage and car lift. RV parking, large lawn for play, garden beds, dog run, deck with covered area & hot tub. Outstanding Issaquah Schools all with the stunning backdrop of your own private park and 150 feet of access to the Raging River!

Complete details at the property website here

Sold with 17 offers and $110,005 over the Seller’s asking price! One step closer to retirement!

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Tony recently helped us sell our Woodinville area home, and we have been impressed with his service throughout the entire process. We had been in our house for over 20 years, and decided to down-size. A friend recommended Tony to us, and we’re very happy that he did. Rather than write a long run-on paragraph, I’m going to just provide a list of points that stood out as positives during a time that is going to be hectic and sometimes stressful no matter how smoothly it proceeds.

From the initial phone contact and home visit, and throughout, Tony has been on-time, quick to respond to questions/concerns, and personable.
– Phone calls were answered or a return call made within minutes.
– Tony helped us decide how to prepare the house prior to listing. He didn’t sugar-coat anything, and we followed his advice. We’re glad that we did.
– Tony explained his view of the current real estate market, and his thoughts on the best way to market our home. Looking back, now that the home has sold, I can say that everything he told us was correct.
– We were initially skeptical of the pre-listing home inspection, but I now think it played a big part in the sale of our house.
– The marketing/listing information/photographs package that Tony put together for the house was fantastic.
– Ask him about the drone.
– Some timeline adjustments had to be made during the closing, and Tony kept us informed throughout. He also monitored the process and made sure that all the paperwork was promptly taken care of.

We had multiple offers on our home, and Tony helped us sort through them all. We ended up selling for a significant amount over our asking price. We credit Tony with this result, and would definitely recommend him to anyone who is planning on selling their home.

Tim and Lois Adams – Sold in Woodinville – 2016

20015 NE 148th St - Woodinville