Category Archives: Real Estate

New On Market: 2-Bedroom Condo with Patio near Gas Works Park

Just one block north of Gas Works Park, this two-bedroom condo hits the market in The Biscayne for only $304,950.  The home has hardwood floors throughout, and a great open kitchen with eating bar that features stainless steel appliances and tile countertop and backsplash.

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The second bedroom has french doors, and leads out onto a large, ground-level patio that’s perfect for a potted garden or outdoor entertaining space.

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The home includes parking in the controlled-access garage, as well as two interior storage units in the building.  The Biscayne is perfectly located in walking distance to downtown Fremont and cycle commuters will love being close to the Burke-Gilman.  The building is pet-friendly!

New on Market: Remodeled Oasis in Shoreline

149 NE 166th Street, Shoreline

I’m really excited to share this new listing with you all, because it’s rare to find such a beautiful and well-maintained home in the Ridgecrest neighborhood of Shoreline.  This 4-bedroom, 1.75 bath rambler is definitely going to be someone’s dream home.  The kitchen has been remodeled with slab granite, custom cabinetry, oversized island, and subway tile backsplash.  It opens to a large living/dining area, all with hardwood floors and perfect for entertaining.

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The master bedroom has a walk-in closet, remodeled 3/4 bath with walk-in fully tiled shower, a large and cozy fireplace, skylight, and patio slider to an outdoor oasis.

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Outside, this home has been professionally landscaped.  On one side you’ll find an urban garden with lettuce ladder and raised garden beds.  In the backyard, you’ll find a huge deck & patio perfect for the grill and outdoor dining, plus a lawn and playhouse with slide.  A house sound system provides speakers in the living room as well as outdoors.  You also get two garden sheds with this home, and a covered parking space plus extra parking in the long driveway.

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Best of all, for those that know the neighborhood, this is a quick 5-minute walk the Crest Theater, where movies are always $3 and all-ages.  You can also walk easily to Hamlin Park, and you’re just a 2-minute drive from the 145th Street Park & Ride where you can hop a 15-minute bus to downtown Seattle.

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At 1,470 square feet, this remodeled home is priced at $390,000 and will be open this Saturday and Sunday, September 6th & 7th, from 12-4 each day.  Come and check it out at 149 NE 166th St, Shoreline!

Green Lake Real Estate ~ The Continued Frustration of Buyers

Every now and then, I provide stats on the local real estate market.  I moved from Green Lake to Maple Leaf last year, but Green Lake is still a big neighborhood of focus for many of my clients.  I can’t blame them, it’s a fantastic place to live and just keeps getting better (yay second PCC!).  Here’s a look at where things are at for June – keep in mind this is obeying the street borders that most people commonly recognize as “Green Lake” and not the outskirts that some try to sneak in.  We stay within the outline of Aurora Ave and I-5 to the west and east, and N 85th Street south to 50th.

Stats and Facts

In June, there were 10 residential homes that closed in Green Lake (and 5 condos, but we’ll exclude them from this data).  The lowest price home sold at $452,000 and the highest at $1,125,000, with an average price per foot in the area of $332.58.    On average, a home sold for 104.3% of asking price – but the biggest difference was one home that sold for 116.7% above asking price.  The average time a home spent on the market was 7 days.

So with all our complaining about bidding wars, is this much different than last year?  Not really, although competition might be tighter.  In June of 2013, there were 19 residential homes that closed – almost twice as many – BUT, the average time on market was still only 10 days, and the average home sold for 103.15% of it’s asking price.

Of course, if we look back at June 2012, we see a little more normalcy.  The average time a home spent on that market back then was 20 days, and the average home sold for 100.08% of it’s asking price – so most homes sold for exactly what they are listed at.

Looking Outside the Box

Feeling the frustration?  Join the club.  Many buyers are upping their game, and some are stepping out and waiting until things get a little less competitive.  Others, like me, looked outside of the most desirable neighborhoods:  In Maple Leaf, there were 7 homes that closed in June 2014.  They ranged in price from $360,000 to $545,000 and the average price per foot was just $299.45.  That means that on average, a 1500 square foot home that would cost close to $500,000 in Green Lake would only be about $450,000 a few blocks north.

Upping Your Game

If you’re determined to keep trying in the most desirable areas of Green Lake, Wallingford, Fremont, Phinney Ridge and Ballard, you’ll need to up your game and be prepared to maybe take on less square footage than you originally wanted or something that potentially needs work instead of a newly updated home.  Preapproved for $600,000?  You should be looking at homes in the $500,000-$550,000 range so that you have room to over-bid.   Many buyers these days are waiving contingencies, making their earnest money deposits non-refundable, and waiving appraisals.  If you’re going to do something like that, you must make sure you have the cash reserves to make up a difference in price, should one occur.

Happy hunting!

NEW LISTING: One bedroom condo in Greenwood

Here’s a little info on my newest listing!  Waterford North is a fantastic building on N 90th just a block east of Greenwood Ave (that means it’s walking distance to Naked City Brewery, just sayin’.)

This one bedroom, one bath condo is on the market for the first time in over twenty years and priced for a quick sale at $150,000.  It has a wood-burning fireplace with tile surround, kitchen with eating bar, and a huge private patio off the living area.   The seller is offering a $500 credit at closing towards a new range, as the current one is a little old (but works).

There is one assigned parking space and one storage space in the controlled-access garage beneath.   For more information, you can call me directly at (253) 653-6299 or email sheath@matrixrealestate.com.   Or, stop by the open house this Sunday, May 4th, from 1pm to 4pm.

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MAKING A FULL PRICE OFFER? GET USED TO REJECTION.

I’m frustrated. Other real estate brokers are frustrated. A lot of homebuyers are frustrated.  In some parts of Seattle, making a full priced offer on a home just doesn’t get you anywhere anymore.

Let me give you a backstory: I have clients that are looking for a new home in north Seattle.  They’re open to a lot of different neighborhoods, but they have wants and needs just like everyone else so over the past two months of house hunting they’ve found only four or five homes they like enough to actually pursue.  And out of those four or five, they’ve so far put offers in on three of them, and lost out every time.

The first home they put an offer in on was listed at $650,000.  They didn’t get it – but whoever did paid $760,000 for it – $110,000 more than list price.

The most recent home they put an offer in on went the same way – it was listed at $650,000, and it sold to someone in the range of $760,000 + (it’s still pending).

From the time I started house hunting with these particular clients, to this past week of facing another rejection, I have felt like it’s gotten worse.  So I checked the stats – and yep, it’s gotten worse.

I took some of the most popular neighborhoods – Ballard, Green Lake, Fremont, Wallingford, and Phinney Ridge – and to narrow my stats down, I took a popular price point right now – homes between $600,000 and $800,000.   Looking back at those homes that closed in the month of January, the average sale price was 101.8% of list price – so if a house was listed for $700,000, for instance, on average it sold at $712,600.

In February, the average sale price was 102.5% of list price – or $717,500 on that hypothetical $700,000 house.  In March it crept up just a little more to 102.6% – $718,200.

Then came April.  In the month of April, the average sale price in that range and in those neighborhoods was 105.3% of list price – that means that $700,000 house is now costing on average $737,100.   And a scary thought here – the biggest percentage difference during April between list price and sale price was 123.3% – that would have made a $700,000 house $863,100.  OUCH.

I very much wish I had a point here, but I think instead this post is meant more to vent everyone’s joint frustration on the matter.   What’s my advice?  Persevere, buyers.  Don’t pay more for a home than what you value it at.  Consider how long you intend to live there.  Know that you’re not alone. Because hell, if you were alone, you wouldn’t be paying so much.

Keep on truckin’.  And punch a pillow, instead of a wall.

 

JUST LISTED: TWO-BEDROOM AT HJARTA IN BALLARD

It’s not easy to find decent square footage when condo shopping in Ballard, but this 1,181 sq-ft two-bedroom home definitely provides it.   Located on the 6th floor of LEED Silver certified Hjarta, this condo has a spacious living area with slider to back patio and electric fireplace, designated dining room, and kitchen with breakfast bar, stainless steel appliances and under cabinet lighting.

The master bedroom has a walk-in closet and big bathroom with separate tub & walk-in shower.  Conveniently, the second bedroom is all the way on the opposite side of the home, with a full guest bathroom.  Washer and dryer are included, and found in the guest bathroom.

Home 610 comes with one parking space and one storage space, both located in the garage below.  Hjarta also has some fantastic building amenities – a community room with kitchenette, pool table, lounge seating and patio, and an exercise facility located off that room with separate spaces for cardio and yoga/pilates.    There’s also a large rooftop deck with seating, barbecues and a p-patch.  The building itself is solid concrete & steel.

You can call me at (253) 653-6299 or email sheath@matrixrealestate.com for more info on this condo at 1530 NW Market Street in Seattle.

Priced at $549,950

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NEW SEATTLE LISTINGS: Two Fantastic homes on the market this week

If you’re in the market for a new home in Seattle, my firm Matrix Real Estate just brought on two pretty cool homes – and they couldn’t be more different from each other!

812 15th Ave E ~ 4 beds/2.5 baths/2910 square feet.

$799,950

First up is this pretty cool Capitol Hill home built in 1906.  It’s kept most of its original charme – like leaded glass windows, fir floors, and built-in cabinetry – but it’s also had updated electrical, new high tech gas fired boiler system, new water lines.  To top it off, it’s a legal duplex with an upstairs unit that’s about 1000 square feet with two bedrooms.  It also has a garage!

This one is listed by Steve Snider and he can be reached at ssnider@matrixrealestate.com.  It’s open Saturday and Sunday (4/5 and 4/6) from 12-3 each day.

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1933 48th Ave SW ~ 3 beds/3.5 baths/3,460 square feet.

$1,495,950

On the opposite side of the spectrum, we have this pretty rad contemporary home in the North Admiral neighborhood of West Seattle.  As you walk in, there’s a butcher block & frosted glass stairway.  The ceilings are 10′ high with 8′ doorways, and the kitchen has a ten-ft long work island with white marble eating bar.  There are two wine coolers that fit 150 bottles each, plus there’s a stellar view of the Puget Sound from the master suite (and the master closet is the size of a normal person’s bedroom).  And check out the freestanding tub!

This one is listed by Nick Jarman and he can be reached at njarman@matrixrealestate.com.  It’s also got an Open House on Sunday afternoon (4/6) from 1-4.

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