Judah Realty Blog - Kirkland Bellevue & Seattle

Are you thinking of relocating to Seattle or Bellevue, we offer lots of real estate options. With real estate prices being at an all time low and values hovering at 2006 values, its a great time to purchase in the Greater Seattle- Eastside area. In King County the median prices for single family homes is $275,000 and pending sales are up 27% in February from a year ago (2011).

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Here is the Real Estate Market Sales Report for Ashburn Condominiums 2011. Most of the sales Ashburn Condominiums were traditional sales, and a few foreclosures (REO's). If we compare original list price to sales price, you see a loss of 7% and a median days on the market of 61days.

Ashburn Condominiums Renton, WA 98055

The BLACK arrows represent Foreclosures (REO's), the YELLOW arrow represents an Estate Sale, and the other bars are non-distressed sales (Traditional Sales)

Ashburn Condominiums had ZERO short sales in 2011, with most of the sales being taditional sales.

Comparing the two values of 2011, we can see that there is a price drop of 7%, but when we compare the average sold price of 2011 of $186,714 to what has sold in 2012, we see a loss of 9% in value.

There has only been one successful short sale in Ashburn Condominiums in 14 months, and we did it! Here is a link showing the SOLD listing.

If you would like to sell your condo / townhome, feel free to contact us for further assistance.

Ashburn Condominiums in Renton just had its first successful short sale in 14 months. Ashburn Condominiums has seen prices drop for townhomes and condos drastically last year compared to the year before (2010). Majority of the sales in 2011 were traditional, but when foreclosures hit the market it really took a hard hit. More and more distressed property is being listed for sale and that is putting a downward pressure on condo / townhome values in Ashburn Condominiums.

See the graphs below, they show values dropping from their original list price to their sold price by 7%, and a median time on the market of 61days. Two of the sales in 2011 were REO (Foreclosures) one was and Estate Sale, and four were Traditional Sales, with ZERO being Short Sales.

Being the only one to have closed a successful short sale in Ashburn Condominiums is amazing, knowing that many tried in 2011 and were not successful. Much has to do with me and my team as we have helped many homeowners avoid foreclosure thouugh a successful short sale. There is a system (Blue Print) that one should follow but many dont know it.

If you're having a financial difficulty making your mortgage payment, or would just like to know what your options are, please contact us directly for further assistance.

Ashburn Condominiums - Renton

107 South 50th Place # B, Renton, WA 98055

2BR / 2.5BA / 1,394sqft / Built in 2000 / SOLD $170,000 (SHORT SALE)

Search for condos and townhomes for sale in Ashburn Condominiums

Here is West Seattle real estate market sales report for 2011. Majority of the sales in West Seattle were non-distressed properties, with a sales percentage of 69% compared to Forelcosures at 19% and Short Sales being 12%.

I noticed that non-distressed properties were fetching higher sales prices and were on the market less than distressed properties. I believe its due to Buyers not wanting to wait for a short sale to get approved in 90-120 days and the foreclosures that were selling needed work, therefore forcing Buyers to think twice about fixing a home and being cash poor.

Here is more information on short sales and foreclosures in West Seattle.

See the numbers below and compare the three in market time, price-per-sqft, and median sales price.

West Seattle Market Sales Report-2011 (Sold Prices)

The median sales price for non-distressed properties was $472,420 a 32.5% higher than short sales and 54.12% higher than foreclosures.

West Seattle Market Sales Report-2011 (Avg. Days on Market)

Again, this report shows how non-distressed properties sale much faster and are off the market compared to short sales and foreclosures.

Search for homes for sale in West Seattle that are NOT distressed properties

Search for homes that are Short Sales and Foreclosures in West Seattle.

***Information Deemed Reliable But Cannot Be Guaranteed. Courtesy on NWMLS***

Kirkland home for sale coming soon on the market in Finn Hill - investor remodel and it will have all the amazing details a home Buyer is looking for. The home is under construction and is just weeks away from being completed. Just waiting for a nice sunny day to paint exterior, lay carpets, install appliances and finish up the landscaping, then it will be ready to be listed for sale.

Here is what it looks like outside right now.

Are you searching for short sales or forclosures in the Finn Hill / Kenmore area? View all homes for sale and if you would like a private tour, just let us know.

Traditional real estate sales in Kirkland- Finn Hill outperformed short sales and foreclosures in home values plus two other categories. Traditional sales in Finn Hill were much better received by home Buyers in comparison to short sales and foreclosures.

Here are three examples as to how traditional sales outperformed in Finn Hill;

1. Sales Price Values = 29% more

2. Days on Market = 31 days less

3. $/SQFT (Price per SQFT) = 11% more

Finn Hill is a community that offers lots of options to future homeowners wanting to relocate to this area. Here are jsut a few that are known to this community;

a) Great schools & parks (Northshore School & Lake Washington School District)

b) Easy access to major roads and higways

c) Quiet streets and friendly neighbors

As I hold open houses in Finn Hill on the weekends, i get asked by Buyers and Sellers what the real estate market is doing in the area and if home prices have stabilized. I normally hand out reports showing various market trends, but after much discussion, I decided to post the information for everyone to see and be more knoweledgeable of whats really happeing in Finn Hill.

Having this information is vital to how a future home Buyer is going to approach a home when making an offer and how a homeowner is going to react to a purchase and sale on their home. Many homeowners think that short sales and foreclosures, also known as "distressed properties" make up mush of the real estate sames in Finn Hill, but in data shows otherwise, as they only contribute 32% of all real estate sales for 2011 in Finn Hill. 

Finn Hill Real Estate Market Sales Report 2011- Original Price vs. Sold Price

Finn Hill Real Estate Market Sales Report 2011- Days on Market

Traditional sales made up 68% of all real estate sales in Finn Hill 2011. Single family homes were on the market less days than "distressed property" by an average of 31 days.

Finn Hill Real Estate Market Sales Report 2011- $/SQFT

When you compare $/SQFT, the numbers are more favorable... as traditional sales retain $28.60 ($/SQFT) more than short sales and $10.22 ($/SQFT) more than foreclosures. 

In summary, if you're wanting and are able to sell, you don't need to sell as a short sale based on the numbers shown in this report. Hire a real estate Broker that has the knowledge and skill set to assist you in your request.

Here are two homes that I sold in Finn Hill last year (2011) that were non-distressed. Both retained an offer within 10 days of being listed and closed shortly there after. Buyers are sick and tiered of waiting for short sales to get approved and some don't want to bother with foreclosures as they're in really bad shape.

 Finn Hill Home - SOLD

 Finn Hill Home - SOLD

If you would like a market analysis of your home, please fill out our form and we will contact your within one hour of your request (minus Christmas).

What was the real estate market like at Canyon Ridge Condominiums in 2010? Condo sales values in Canyon Ridge Condominiums were much stronger than the 2011 sales report by 27%. The values of condos in 2010 were very stable due to NO short sales or foreclosures being sold in the whole community. The big difference in price comes in 2011, when the first foreclosure shows up and sold for $105,000 while the median price in 2011 without the foreclosure would have been $202,500... OOOOUCH!

Sales in 2010 had a 26% higher $/SQFT (price per square feet) than 2011. The median sales price was $230,625 with the lowest sale being at $197,000.

There were four sales in 2010 in comparison to only three in 2011, and one being a foreclosure that has brought values down dramatically.

Let's hope that 2012 offers stable or increase condo values as I'm sure homeowners would like to sell, but are not able due to their loan payoff exceeding fair-market value.

Here are a few charts that show the market trend for Canyon Ridge Condominiums:

Canyon Ridge Condominiums Real Estate Market Report - 2010 ($/SQFT)

Canyon Ridge Condominiums Real Estate Market Report - 2010 (Original Price vs. Sold Price)

Canyon Ridge Condominiums: $/SQFT comparison 2010 vs. 2011

Canyon Ridge Condominiums: Original Price vs. Sold Price comparison 2010 vs. 2011

View whats currently for sale in Canyon Ridge Condominiums and if you would like to SELL or BUY in Canyon Ridge, contact us directly.

Finn Hill home values- comparing short sales, foreclosures and traditional sales for 2011 Curious as to what real estate values are in the Finn Hill area?

Here are two graphs that show a picture of what’s going on in your community with a side-by-side comparison between short sales, foreclosure, and traditional sales (“non-distressed”) home values.

Traditional sales (non-distressed) over short sale values fetched 24.66% higher values, and 33.57% compared to foreclosures.

Short sales out performed foreclosure when it comes to retaining a higher sale price by an average of 13.4%. Looks like Banks are leaving money at the table. It’s in the Banks best interest to approve a short sale and avoid foreclosure just by seeing and knowing these numbers.

On the other hand, foreclosures don’t have such a high swing in value difference when comparing original list price to sold price. They absorb a 2.26% loss, were traditional sales come in at 4.45% and short sales take the biggest price drop coming in at 13.36%.

Finn Hill Market Sales Report -2011 (Original Price vs. Sold Price)

Finn Hill Market Sales Report -2011 (High, Low, Median Values)

Finn Hill is one of the more stable real estate markets in the Eastside (next to Seattle). Values are lower than 2010, but as a whole... they are holding fast.

Check out our other post comparing various cities on the eastside.

*** Information Deemed Reliable But Cannot Be Guranteed. Courtesy of NWMLS***

Top 5 questions to ask a Real Estate Broker before hiring them to sell your home. In todays market its important that you do your research on a real estate broker so you know exactly what your paying for. Experience is vital with todays tough market conditions and falling short of expectations will and can derail a sales transaction.

1. Ask your Broker to show you what their business was last year and how many sales they’ve done in your community. This will show you that they are fulltime and not a weekend Broker.

2. Ask your Broker to provide Professional Photography- NAR (National Assoc. of Realtors) 92% of Buyers go to the internet to search for homes… it will make a BIG difference.

3. Ask your Broker to show you what type of cont. education or specializations they might have to assist your needs. I.e. you’re not going to hire a Broker that specializes in selling manufactured homes to sell your waterfront home, right?

4. Ask your Broker what your local market is doing and see if they know much about your area.

5. Ask your Broker what their marketing / internet presence is like?

What other questions would you suggest, or have had to ask a real estate Broker when deciding to sell / list your home for sale?

Here are Canyon Ridge Condominiums Real Estate Market Stats for 2011- Bothell, WA. You would think that a condo community of 75 units would have around 10-20% of sales each year, but 2011 was a slooow year. Canyon Ridge Condominiums only had three sales, two being traditional and one being a foreclosure (REO).

The graphs show that values were all over the board with a foreclosure selling at $105,000 and the other two sales were traditional "non-distressed" selling just shy above $200,000.

Canyon Ridge Condominums Market Report 2011- Days on Market

Canyon Ridge Condominiums Market Report 2011- $/SQFT

Canyon Ridge Condominiums Market Report 2011- Original vs. Sold Prices

Its clear that the real estate market is slow, but its even slower for condominiums and going into 2012... I believe that there will be more foreclosures and short sales to come. I will provide an update at the halfway mark this year (June) and see where prices are and will be as we finish 2012.

If you would like a Free Market Evaluation on your home and would like to see what our team offers, contact us directly. We will contact you within 1 hour.

 ***Information Deemed Reliable But Cannot Be Guranteed. Information courtesty of the NWMLS***