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February 7, 2012
According to a recent headline in the Seattle Times, "Home prices sliding - 12% lower than in January 2011"
These headlines sell newspapers. However, these headlines do not tell the whole story. Home prices have declined, but not in all places. For example: "A sellers market has returned in the areas close to the job centers of Seattle and Bellevue, up to the one million dollar price point." Here is another example: " We are also seeing the same situation in the more affordable price ranges in the surrounding market areas, caused by a shortage of inventory and healthy-to-strong sales activity."
For now, however, prices are showing mixed signs - stabilizing in some areas while declining or increasing in other areas.
The MLS director said " The perfect storm is brewing, the pent up need for homes in good condition is creating shorter market time and sales close to the original asking price. It is a great time for sellers who had been waiting."
West of Market
Closed sales from 6/1/2011-12/31/2011
Address List Sold Dom
133 - 5th Ave W $415,000 $410,000 365
311 - 10th Ave W 525,000 480,000 36
234 - 8th Ave W 550,000 572,500 5
221 - 8th Ave W 599,950 580,000 51
645 - 18th Ave W 649,900 625,000 55
420 - 10th Ave W 675,000 640,000 59
1931 - 10th Pl W 699,000 650,000 127
545 - 14th Ave W 650,000 650,000 ?
1023 - 14th Pl W 825,000 750,000 161
731 - 20th Ave W 950,000 905,000 44
711 - 20th Ave W 935,000 915,000 14
500 Waverly Way 1,100,000 970,000 99
650 -14th Ave W 1,098,000 1,059,000 13
720 -14th Ave W 1,237,000 1,162,500 23
328 -10th Ave W 1,209,999 1,243,000 65
523 - 13th Ave W 1,565,000 1,365,000 65
515 - 5th Ave W 1,695,000 1,500,000 28
1050 Waverly Way 2,900,000 2,597,000 36
East of Market St.
Closed sales from 6/1/2011 - 12/31/2011
Address List Sold Dom
1937 - 4th St. $399,950 $320,000 91
912 - 6th St. 385,000 382,000 4
443 - 15th Ave 399,950 392,500 23
1041 - 5th St. 429,500 419,500 62
444 - 7th Ave. 440,000 420,000 33
907 - 4th St. 419,900 422,000 230
141 - 18th Ave. 435,000 450,001 10
420 - 8th Ave. 428,000 455,000 10
1510 - 3rd st. 499,500 460,000 45
1012 - 5th St. 489,900 482,500 7
1910 - 4th Pl. 524,950 505,000 64
645 - 8th Ave. 539,000 528,000 140
512 - 15th Ave. 529,950 529,950 7
1312 - 1st st. 550,000 530,000 299
335 - 15th Ave. 599,000 550,000 314
1535 - 5th Pl. 550,000 550,000 4
226 - 18th Ave. 600,000 575,000 66
517 - 8th Ave. 629,000 577,685 10
1534 - 5th Pl. 589,000 584,000 19
321 - 15th Ave. 588,000 588,000 5
233 - 7th Ave. 575,000 590,000 2
513 - 8th Ave. 595,000 607,000 5
232 - 9th Ave. 650,000 650,000 4
139 - 8th Ave. 699,900 655,000 102
226 - 6th Ave. 775,000 665,000 16
1831 - 1st St. 698,500 673,000 288
1914 - 5th St. 675,000 675,000 2
433 - 7th Ave. 725,000 695,000 266
1321- 4th St. 724,000 700,000 26
610 - 14th Pl. 749,000 720,000 121
512 - 19th Ave. 714,900 728,300 47
606 - 2nd St. 725,000 730,000 89
912 - 2nd St. 699,950 730,000 6
312 - 11th Pl. 775,000 738,500 5
1021 - 1st St. 799,950 755,000 27
327 - 15th Ave. 799,950 792,000 391
642 - 12th Ave. 830,000 815,000 10
427 - 18th Ave. 835,000 816,000 61
1104 - 3rd St. 825,000 825,000 9
432 - 9th Ave. 869,000 835,000 36
1869 - 4th St. 879,500 847,500 10
708 - 2nd St. 1,079,000 900,000 71
HOW TO FIND AN AGENT?
According to a new survey by the National Association of Realtors, (1/11/12) most sellers ask a friend. Thirty-nine percent of home sellers used a referral by friend, neighbor or relative to find their agent, and an additional 22% used an agent they had worked with before.
This survey also revealed that the typical seller only contacts one agent during the selling process. 16% of sellers contacted two agents before selling their home and 18% contacted three or more agents.
Among recent sellers who used an agent, 65 % reported they would definitely (69 %) or probably (16 %) use that real estate agent again or recommend to others.
I will be updating the demographics of Kirkland as soon as the 2010 statistics are available to me.
MY LEGACY
No homes I had sold in 2004 to the present (January 2011)) have come back on the market as a short sale, foreclosure or Real Estate owned by the Bank. (See listings of the NWMLS from 2004 to present)
Since 1980 - 75+% of my business is repeat business. And, it is not uncommon for these clients to contact me some 20 years after we first met. My former customers are very loyal, passionate, dedicated and committed to me because of the highly personalized services I provide. For further information go to TESTIMONIALS under "ABOUT LAURA".
MARKET NEIGHBORHOOD ASSOCIATION
Have you heard of the Market Neighborhood Association? I am a member of this organization which focuses on all things West of Market. Their Web site is www.marketneighborhood.org
Kirkland's Demographics
(based on the 2000 U.S. Census)
Here is what our community looks like:
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