Low Inventory + Growing Population = Open House Mania!!

I hosted an open house in Magnolia yesterday during the Seahawks win against the Green Bay Packers which earned them their next ticket to the Superbowl!! You would think that my open house would be dead as a door nail due to the enthusiasm people have for their beloved Seahawks…. I mean check out all the traffic just a couple of blocks from the listing… You guys, I had at least 30 groups through (I lost count)! They all seemed to be serious buyers with a lot of questions, a few stayed 45+ minutes and one brought a measuring tape (always good signs). The property is listed by another broker in my office and she held an open house the previous day with even more traffic (this property has only been on the market a couple of days)! 

Quite a few of the potential home buyers at the open were new to Seattle from; Switzerland, Great Britain, Boston, etc. which could explain their lack of enthusiasm for the Seahawks. 🙂  Magnolia is a great neighborhood, this home has amazing views, great bones and inventory is quite low, these factors combined can equal a feeding frenzy. I understand that there are already pre-inspections scheduled and offers are being considered Wednesday. I have a buyer who may throw their hat in the ring as well. I predict a sale at above asking price.

TIP OF THE DAY: If you are buying a home in Seattle and you find one you like — don’t dawdle and be prepared to go up against some competition! Good luck to all!

TIP OF THE DAY

If you have listed your home for sale with a real estate broker and he/she or a professional photographer is coming over to take photos for your listing, (which is KEY to getting your house sold) you don’t want your kitchen to look like this. Photos will likely be a potential home buyer’s first impression of your home and as we have all heard “the first impression is the only impression.”

Removing clutter is one of the easiest things you can do to ensure that your home shows well and not like it belongs in an episode of Hoarders. As someone who once got rid of most everything they own in a cross country move I can tell you that it is a liberating experience getting rid of all that “stuff” you don’t really need. I PROMISE you will feel better and your home will sell faster!

If you have so much stuff that you feel overwhelmed and don’t know where to begin – or if you simply don’t want to deal with it, there are businesses that can help! Here are a few links to professional organizers I found on Yelp. I may not have had experience with each directly so shop around and see which offers you the best fit and price: Clearspace |  Sound Organizing | Seattle Organizing Experts

Here Are The Top 5 Reasons Many Home Buyers Prefer New Construction

According to a recent survey by Trulia, twice as many people prefer new to existing homes! Here’s why:

1. To have contemporary finishes and features; eat in kitchens, walk in closets, new appliances, flooring, counters, etc. that are in line with today’s trends.
2. To spend less on maintenance and repairs (for at least a few years).
3. To live in a home that meets modern construction standards so there is less maintenance and it’s more energy efficient.
4. (My favorite) To be the first person to live in the home.
5. You’re moving into a house that should be totally complete and absolutely perfect. That “new house smell” is definitely a luxury!

If you are set on a brand new home just keep in mind that they cost more, sometimes up to 20% more – but for many home buyers it’s well worth it!

Here is a tour of one of the newest luxury residential condo projects in Seattle. I have toured countless condo buildings of all ages and was very impressed with the elegance and luxury of Insignia Seattle!

Insignia Seattle is located in the heart of Seattle where Downtown, Belltown and South Lake Union intersect – merging a sense of chic-cosmopolitan city with the fabric and personality of character-filled neighborhoods. Take the tour! If you have any questions or would like to take your own tour – call me!

HERE IS WHAT SOLD IN 2014 AT LUMEN CONDOS IN SEATTLE!

Today I bring you Lumen Condos, located at 501 Roy Street in Seattle’s Queen Anne neighborhood. Interestingly, Queen Anne is home to 7 of the 20 steepest slopes in the city and boasts 120 pedestrian staircases! It can be spotted from near and far throughout Seattle (weather permitting) by three television broadcast towers lined up in a row. And BONUS! Queen Anne is also home to what is widely considered to be one of Seattle’s best restaurants, Canlis!

The building was completed in 2007 and has an impressive walk score of 93. It’s an intimate building with 94 contemporary condos featuring finishes such as: sealed concrete flooring, high ceilings, stylish lighting, stainless appliances, quartz counters, Nana wall systems, expansive windows, exposed concrete ceilings, large patios and luminescent exterior walls. The exterior is concrete, steel and glass construction.

The Lumen gives you just the right amount of amenities for its size including: concierge service, owners lounge, private screening room, guest suite, business center, indoor lounge, landscaped courtyard, as well as secured access and parking.

Here is what sold at Lumen Condos in 2014!

As always, if you have any real estate questions or would like to see what’s available at the Lumen today, I’m happy to help!

Here’s What Sold In 2014 At Continental Place In Seattle!

Continental Place (completed in 1981) is located at 2125 1st Avenue in Downtown Seattle near the waterfront, which affords some of it’s lucky residents killer views of Puget Sound! It also affords them convenient proximity to dining, shopping and recreational activities!

The building offers a full array of luxurious amenities such as: 24 hour door staff, on site management,  indoor pool and spa, saunas, tanning booth, well-equipped fitness room, community room with kitchen and outdoor barbecue, a beautifully landscaped outdoor plaza with mature eucalyptus trees, decorative ponds and a unique sculpture, and a fully furnished two bedroom Guest Suite for your out of town visitors. On the rooftop is a spacious sundeck.  In the garage, you’ll find a convenient car wash area.

Here is what sold at Continental Place in 2014 according to the NWMLS!

If you have any questions or would like to see what’s available now at Continental Place, just let me know!

And The Award For Most Creative Open House Goes Toooo…….

Chances are you’ve already seen this viral video but it’s still blog worthy. A friend posted it on my Facebook page and since then I’ve been seeing it pop up everywhere. Not only did Dutch Real Estate Broker, Verder met Wonen give potential buyers an open house experience they won’t soon forget, but he also certainly gave his listing maximum exposure! Kudos to him! I’m always trying to come up with creative and outside the box ideas for my real estate business so it’s great seeing things like this. You can enjoy the video here on Laughing Squid.

Downtown Seattle Condos

I know data can be a snooze to some. But as a seller or potential buyer it can also be very useful and informative. So as we close out November and welcome December here is some useful data for those interested in condo units in the downtown/Belltown area of Seattle!

As of December 1st 2014 there are only 94 downtown/Belltown, Seattle condo units listed on the Northwest Multiple Listing Service. The average list price is $1,120, 517.00 and 93% of those listed are 2 bedroom units. Inventory is typically lower during the holiday season and units towards the high-end frequently exhibit longer market times.

In November 2014 a total of 34 downtown/Belltown, Seattle condo units sold at an average price of $634,085 according to the Northwest Multiple Listing Service and 97% of those were 2 bedroom units. The average market time for all of these units was 55 days. The average sales price came in at about 98% of asking price.

As always, I welcome any questions or feedback!

Should I wait until spring to sell my home?

This is the question I am most asked by sellers November – February. The answer isn’t as simple as it seems and there are a lot of things to think about depending on your unique circumstances. Here are just a couple of things to consider:

• While traffic typically does slow down this time of year the buyers that are out there looking are most likely serious/motivated buyers.
• Because so many sellers are waiting until spring to put their homes on the market inventory is much lower so you are faced with less competition.

Truth be told, pricing your home correctly is the most important factor in getting it sold. If you are priced right, hire a great broker and market conditions allow, you should have no problems selling your home in any season. I always recommend sellers interview and get pricing opinions from at least 3 brokers before they decide who to hire. Ask them to provide you with a detailed list of comparable properties that have sold in your area in the last 6 months to a year (CMA). I totally understand how tempting it would be to go with the broker who quotes you the highest price, but I promise you, this can be a mistake and cost you money and stress in the long run. The data and the market don’t lie, so go with the broker who presents the information and themselves in a way you feel will get the job done and best represents your home and your wants and needs.

If you have any thoughts or questions please share them. I’m happy to discuss!

To rent or to buy? That is the question.

Call it official! Seattle rent is the 10th highest in the U.S. and it’s rising faster than any other major US city. These numbers are from the Census Bureau (about as official as it gets).

So if you have a sinking feeling around the first of every month when you prepare to wave goodbye to that big chunk of change as it makes its way to your landlord’s bank account —- perhaps it’s time to consider taking the leap to home ownership.

It is a HUGE decision and there are many things to consider. Most importantly are your financial and employment status. Do you feel your job and income are secure? Do you see yourself staying put in Seattle for the next 5+ years or so? Then it might be time to consider buying. There is a great resource that the New Your Times posted on their site which I think is excellent because it includes many of the variables to be considered: Click Here

Last weeks biggest sale is a $6 million dollar Bellevue Penthouse Boasting million dollar views!

It is fun looking at spectacular high-end real estate! Can’t you just picture yourself here? This contemporary condo  sold for $6 million and at 4,358 sf that’s $1,377 per square foot! Not bad! The fireplaces, the views, the outdoor chef’s kitchen!….. Yes, I’d live here.

The building is  9 stories and in the last 2 years 9 other units have closed between $370,000 and $2 million.

Check it out here at Curbed Seattle: $6 million Bellevue Penthouse Condo Sold Last Week

Price tags on downtown condos in general seem to be on the rise. According to an article in the Puget Sound Business Journal, downtown Seattle condo prices jumped 2% in October from the month prior.

If you are a condo owner and interested in learning the value of your home contact me for a complimentary market analysis.  condokat@gmail.com