- Seattle and Eastside Real Estate

Apr. 27, 2012 - Seattle Real Estate - Represented by Ardell DellaLoggia

I am often asked if I represent people buying homes more than those selling them. Not sure if I can use one post to capture a quick snapshot of each, but giving it a try here. Of course it won't go back the 21+ years I have been in the business, but should capture many of the homes and people I have represented here in The Seattle Area.

This will also serve as a list of where and what, in addition to whom (buyer or seller) I represented in each transaction. The address links provide more detail on each property. I am adding and updating as new ones apply...so the first ones will be latest and the date of this blog post will keep changing to a more recent date as well, as time moves forward.

Represented the SELLER of 8532 16th Avenue NW Seattle WA 98117 in Ballard.

Represented the BUYER of Cedar Mill QB in Kirkland. Interesting as the very first property at the bottom of this post that I sold in WA was next door at QA which I sold both in 2004 and 2006.

Represented the BUYER of 14709 NE 61st Street, Redmond 98052

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Represented the BUYER of 12142 NE 166th Place, Bothell 98011

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Represented the SELLER of 4407 222nd St Mountlake Terrace 98043

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Represented the BUYER of 23700 45th Court Mountlake Terrace 98043

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Represented the SELLER of 1918 250th Place Sammamish 98075 - Wesley Park - VIDEO

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Represented the BUYER of 606 7th Aveune S. Kirkland 98033

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Represented the SELLER of 1810 6th Avenue W. Seattle - Queene Anne 98119. Also represented this seller as the BUYER of the home when they purchased it. More Photos

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Represented the BUYER of 10105 203rd Ave NE  Redmond 98053

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Represented the BUYER of 18505 NE 102nd Court Redmond 98052

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Represented the BUYER of 12640 SE 30th Street Bellevue 98005

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Represented the SELLER of 16512 126th Ave NE Woodinville 98072 - VIDEO

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Represented the BUYER of 22225 32nd Ave SE Bothell 98021 (link not exact as was new construction). The buyer of this home was the seller of the home above in Woodinville.

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Represented the BUYER of  515 35th Avenue S. Seattle - Leschi - 98144

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Represented the SELLER of 25569 SE 41st Court Issaquah 98029 - VIDEO

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Represented the BUYER of 404 11th Ave W. Kirkland 98033

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Represented the SELLER of this condo in Sundance Klahanie - Issaquah 98029 and also represented him as the BUYER of the property when he purchased it.

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Represented the BUYER of 1117 NE 187th St Shoreline 98155

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Represented the BUYER of 307 152nd Place in Bellevue 98007

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Represented the BUYER of 1725 NE 290th Ave NE Carnation 98014

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Represented the BUYER of 13429 NE 132nd Street Kirkland 98034

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Represented the BUYER of 11012 127th Place NE Kirkland 98033

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Represented the BUYER of 12947 NE 195th Place Bothell 98011

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Represented the BUYER of 1314 174th St Bothell 98012

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Represented the SELLER of 8507 Stone Ave N. Seattle 98103

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Represented the BUYER of 9209 B Interlake Ave N. Seattle 98103

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Represented the BUYER of 17288 NE 120th Way Redmond 98052 - Education Hill 

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Represented the BUYER of 15838 NE 91st Way Redmond 98052 Rivertrail

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Represented the SELLER of  1132 N. 77th Street Seattle 98103

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Represented the SELLER of 15634 NE 92nd Way Redmond 98052 Rivertrail

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Represented the BUYER of 6808 39th Ave NE Seattle 98115

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Represented the SELLER of 15841 NE 91st Way Redmond 98052

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Represented the BUYER of 14155 174th Place NE Redmond 98052 who was also the SELLER of the townhome above this.

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Represented the SELLER of 1244 8th Avenue S. Edmonds 98020

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Represented the seller of the home above as a BUYER of a home in Tam O'Shanter at 1049 185th Ave NE in Bellevue 98008

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Represented the SELLER of 25230 Issaquah Beaver Lake Road Sammamish 98075

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Represented the SELLER of 5906 E Mercer Way Mercer Island 98040

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Represented the SELLER of 2634 168th Ave NE Bellevue 98008

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Represented the BUYER of 17124 NE 5th Street Bellevue WA 98008

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Represented the BUYER of 24024 NE 53rd Place Redmond 98053

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Represented the SELLER of 814 NW 50th St. Seattle 98107 after they purchased the home above.

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Represented the SELLER of 902 N. 93rd Street Seatlle 98103

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Represented the SELLER of 8323 16th Ave NW Seattle 98117 Ballard

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Represented the SELLER of 2342 N. 60th Strret Seattle 98103 Green Lake

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Represented the BUYER of 8814 NE 178th Street Bothell 

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Represented the BUYER of 1768 A NW 59th St 98107 Ballard

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Represented the BUYER of 13748 25th Avenue NE Seattle 98125 Olympic Hills

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Represented the BUYER of 701 Market St in Seattle 98117 and also represented him as the SELLER of the property two years later. There is no link as this 4-plex was purchased by a builder who built townhomes on the lot. The property in the photo below is no longer there.

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Represented the SELLER of 752 N. 74th Street Seattle 98103 Phinney Ridge

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Represented the SELLER of 2813 S. Charles Street Seattle 98144 

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Represented the SELLER of 6525 Sunnyside Ave. N.Seattle 98103 Green Lake

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Represented the BUYER of 203 168th Ave NE Bellevue 98008 

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Also represented the above BUYER in his purchase of this 4-plex in Panther Lake Federal Way

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Represented the BUYER of this duplex in Redmond 98052

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Represented the BUYER of 13621 179th Ave NE Redmond 98052

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Represented the BUYER of 38127 SE 85th St Snoqualmie 98065

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Represented the BUYER of 18215 NE 95th Way #101 Redmond 98052

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Represented the SELLER of 16310 3rd Ave NE Duvall 98019

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Represented the BUYER of 13833 133rd Place Kirkland 98034

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Represented the SELLER of 14335 Simonds Road Bothell 98011 who are also the BUYERS of the house above on 178th in Bothell.

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Represented the BUYER of a one bedroom condo Bldg E Unit 6 in Bellevue Manor 98007

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Represented the BUYER of a two bedroom condo (off market sale) in Bellevue Manor 98007 

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Off Market - not arm's length transaction 98033

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Off Market - not arm's length transaction 98033

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Represented BUYER and SELLER - West Seattle - Off market - not arm's length transaction 

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Represented the BUYER of this condo at 9242 Woodlawn Ave N. 98103 in Licton Springs Seattle

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Represented the SELLER of 1425 32nd Ave S Seattle 98144

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Represented the SELLER of 2821 29th Avenue S. Seattle 98144

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Represented the SELLER of 2817 29th Avenue S. Seattle 98144

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Represented the BUYER and later represented him as the SELLER of this condo in Cedar Mill Kirkland 98034

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Mar. 7, 2012 - Kirkland 98033

Using a 180 day rolling basis to track the market in this zip code. 97 condos sold. 188 homes sold.

Let's separate by Property Type within these two categories.

Starting with the first graph and noting For Sale as comparison to Sold.

Now to For Sale as Comparison to Sold by Type. 

True, inventory is low...but it's far from non-existent. given the # of homes sold in a full six months shown at the beginning of this post, the amount for sale does not seem extraordinarily small by comparison.

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Required Disclosure: Stats are not compiled, verified or published by The Northwest Multiple Listing Service. 

Jan. 11, 2012 - Seattle Real Estate - Final Walk Through

Should the Home Buyer do a Final Walk Through? CAN the buyer do a final walk through? In order to do a Final Walk Through...the home should be EMPTY. Pretty meaningless if the seller's belongings are still in the house.

In the Seattle Area, and most "escrow" states, the Final Walk Through is not as automatic as it may be in "settlement" States. In fact reportedly at least 50% of homebuyers do NOT do a Final Walk Through. A much higher % do a Final Walk Through in non-escrow (Settlement) states.

That is primarily because in a Settlement State, the buyer signs on the day of closing. In an Escrow State like WA and CA, the buyer signs in advance of closing, and sometimes in advance of the seller moving out. And as I said in the beginning of this post, doing a final walk through before the seller moves out is pretty meaningless. Trying to do one while the seller is up to their eyeballs in packing and moving out, is considered pretty darned rude. 

How does that matter? Maybe it shouldn't...but it does. Mostly because the buyer loses their leverage...if indeed they really have any leverage in the first place, once they have signed off on all the paperwork.

Many agents shy away from doing a Final Walk Through because they are concerned about managing the result.

Just because a Buyer can DO a final Walk Through...doesn't mean they can STOP THE CLOSING if they are unhappy about something. Even if the included refrigerator "took a walk on accident", does the buyer have the right to say they are not going to close? Or do they merely have the right to close, and then file a small claims action regarding the missing refrigerator?

One might ask how a refrigerator can be missing "on accident", but it can happen, especially if the sellers have professional movers and are already in their new location. It could be an error of the moving company to have loaded it on to the truck, when they were supposed to leave it in the house.

You should DO a final walk through, especially if the house was furnished when you made an offer and the last time you saw it.

But do wait until it is EMPTY, and don't mistake being able to DO a Final Walk Through...with being able to complain about...most anything...to the point where you think you can refuse to close escrow on the day scheduled, if you are not happy about something.

You usually still have to close...or be in Breach of Contract...and risk losing your Earnest Money deposit, if you refuse to close on the day scheduled in your contract. One exception might be...and I think rightly so...if the seller is still "sleeping in his bed" and hasn't packed or moved out on the day of closing, unless the contract provided for possession to be AFTER closing...which is not recommended, or normally the case.

Jan. 9, 2012 - Seattle TODAY

Taken by my friend Linda Aaron...yesterday. 

Jan. 6, 2012 - How to Choose a Seattle Real Estate Agent - Part 1

How do you select a Real Estate Agent who will add value to your Home Buying or Home Selling process is a question often asked...and rarely answered well. It must never be answered really well...because people keep asking this question. So it goes without saying that they must not be happy with the answers that are available online. :)

In this Part 1 - I will start with a Buyer of a Home.

What is this home "worth". It is important to note that many agents who work primarily with homebuyers or exclusively with home buyers often don't have a clue, because they are always "negotiating" off the List Price.

The List Price having been decided by either the Listing Agent or the Seller of the home.

If the Asking Price is wrong...and you negotiate really well...you still LOSE! 

Move away from an agent who says they are a "great negotiator", but knows didly about how to value a house that doesn't already have an Asking Price attached to it...and they are many.

The Biggest Mistake a Homebuyer makes is that they ask other buyers for a recommendation, or they choose an agent who other buyers said offered a pleasant and happy experience in their Home Buying Process.

The truth is that buyers really like happy...but spending hundreds of thousands of dollars should not feel like a jaunt in the Park...it should give you a massive headache!

IF...you are paying close attention to all of the things you need to know, before spending hundreds of thousands of dollars...it likely will not be fun. Plenty of time for "fun" when you pop the cork in your new home. The process is a huge financial decision...and most fun agent is not likely the best choice in that regard.

Back to the topic. The first step in choosing a Buyer's Agent is to ask them for info on homes they have listed, including the ones they DID NOT sell!

The sign of an agent who can't value a property for you to insure you are not OVER paying for a home is in the Listings they did NOT sell...not in the ones they DID sell. ...and clearly not an agent who never priced a home that has sold.

Almost NO ONE...buyer or seller...asks for a list of homes that the agent listed and did NOT sell. 

WHY? Because the lists of How to Choose an Agent are almost always written...by an agent. Haha...they are not going to list " the criteria of homes NOT sold in their How To Choose an agent.

REMEMBER AND IMPORTANT - I am talking about choosing a Buyer's Agent here. Not a Seller's Agent. What is THIS home worth is more important to a buyer...than to a seller.

If you hear these words from an agent...RUN like the wind! "A house is "worth what a buyer is willing to pay for it".

EXCUSE ME??? That's like saying There's a Sucker Born Every Minute! 

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Jan. 5, 2012 - How Much Does It Cost to Buy or Sell a House?

I just wrote a lengthy post on The High Cost of Buying and Selling a Home, and while I apologize for linking to it here, it is something every homebuyer should read before making an offer, and every home seller should read before listing a house.

In fact...before you even buy a house...you should know how much it is going to cost you to sell it later...before you decide to buy a home. It's no Chump Change! It costs a LOT more to sell...than to buy.

http://raincityguide.com/2012/01/05/the-high-cost-of-buying-a-home-selling-a-home/

If you have questions, be sure to ask them over on Rain City Guide vs here on my blog. This blog is really not set up well for comments, and I likely will miss it unless you post it there vs here.

Jan. 2, 2012 - 2012 Kirkland Home Prices - West of Market

West of Market Kirkland is the commonly used name for the area called "Market" on the Kirkland City Neighborhood Map. For real estate valuation purposes, the homes and land closest to Market Street, as in seeing the traffic and hearing the traffic noise, will of course have an impact on price. Goes without saying. Those closest to the water...the opposite. Many if not most homes have a view, so separating by view considerations is a case by case basis.

If you want a nice home West of Market, you have to be vigilant! Hard to believe, but there is only ONE home for sale there at the moment.

One home for sale...WOW! That even surprises me! 4 Pending Sales. 38 sold this year. One for sale. Holy Caboley!

Running median home price West of Market is not going to help you, as the devil is in the details. If you want a decent newer house, plan on spending at least $1,100,000 and UP.

If you are willing to live further from town in West of Market, the prices are generally lower from 16th Ave to the end of West of Market around 20th. Not cheap...not even necessarily lower than $1,100,000 for a decent newer house. But less than one that is closer to town.

For future value, a crappy house on a good lot is the better bargain these days, because of the land play. A teardown is more likely to increase in value than a new house. Mainly because the builders are not out and about, so land value has reduced significantly. Almost no one wants to gamble on building a spec house these days.

So grabbing a home you can barely live in, especially South of 14th Ave and not near Market Street, is the best strategy at the moment. Price that option at between $450,000 and $650,000, depending on the house and the lot. That is not counting right on Market Street or very near it.

Then you have the middle ground between $650,000 and $1,100,000. Usually a house built in the 90s by an OK builder, or a newer house built up at 18th to 20th, or an older house that has been expanded, remodeled or updated over the years.

The main issue is if you really have your heart set on West of Market...you have to be vigilant, as there will not likely be more than TEN homes in a YEAR in each of these varying options. Median Home Price means nothing here. If you want a house in any of these price ranges, you have to be ready to pounce, and also know when a house is over or underpriced. If you don't know that...you will lose the best and get stuck with the worst.

Walk it...know it...West of Market is not a place for Amateurs. Become an expert so that you will know the right house when it comes along...and quickly.

Even if price is no object for you...you still have to be vigilant, as there is not a lot of inventory...ever. No looking at 20 homes and picking one after thinking about it for a few weeks. Prepare yourself to be ready by studying the market...walk every inch of it if you can.

Knowledge is not optional in this area, West of Market, it's a must.

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Jan. 1, 2012 - Kirkland Neighborhood Homes Prices 2012

It is important to note that Kirkland WA has changed as to the homes that now appear in the stats, because they have added 2 neighborhoods and modifed at least one other, due to Annexation of more territory.

For that reason I will be posting the stats for each neighborhood separately, and will link those posts at the end here as I complete each one.

For a visual of these changes, see below:

Dec. 31, 2011 - Best Colors for Your Seattle Home

When decorating your Seattle home...

STEP AWAY FROM THE NATIONAL HOME DECOR MAGAZINES!

Places that have sun every day of the week can use lots of darker tones.

Seattle isn't one of them.

WHITE

The smaller the space, the more you want to consider sticking with white as the primary backdrop to your "added color".

Generally speaking, white can be pretty stark...but...when you have day upon day and week upon week and even month upon month of gray, gray, gray...consider how a room like this can uplift your spirits! Bold colors against white, and filled with things of color that you personally love, can really make a difference in your everyday outlook on life.

Wall Decals like the ones above can be changed by the season...or even your mood. White walls give you the ability to quickly make changes and often. A few accent pieces to pick up the color(s) in the decal(s) and you have PrestO, ChangeO - recreated your environment to suit your mood. Too much coffee today...well...then you may want to tone it down vs brighteneing it up. :)

All too often people decorate in a way that is not only depressing...but also in a way that makes them stuck with it for years...and years...that thought alone is depressing.

OK...Let's Face it - WHITE!!! is just not right for everyone...so let's go to something a little less stark. But...if you find yourself being depressed over the long gray months in Seattle...rethink that white before you mope around day after day wishing there was more sun here.

GREEN

There are very few paint colors that work for a whole room. ...and OMG! STOP, STOP, STOP painting the ceiling the same color as the walls! That is not a Trend! That is a lazy man's answer to not wanting to "cut" the line between the ceiling and the wall!

Seattle tried all the Sage Greens...but frankly...they just didn't work well. Sage and musky green tones work well in many places...but unless you have the flitty constitution of a little pink fairy...you can get very depressed living in the grey-green tones around here.

Try a green with a little more pep...like Cooking Apple Green. I wouldn't recommend it for a whole house for sure. But for a bathroom with white fixtures or a kitchen with white cabinets...it can be quite cheery.

Do a test area first as you may want the Paint Store to lighten it up a bit, especially if you are using it for a main living area that includes the Living, Dining and Kitchen spaces. It is a bit limiting as to what colors you can put with it, so bring some of your favorite items that you already own around the test area to be sure it isn't clashing with a few of your favorite things.

As you can see from the room above, painting the walls green will greatly inhibit the colors you can bring into the room. So don't go overboard unless you want mostly white furnishings and accent pieces. This is true of most any wall color. Be aware of the limitations.

Still...from a Seattle perspective, it can bring the outdoors in...year round...and through most any kind of weather make a room feel very "English Garden".

RED

Red...in any shade from dark to bright...Husky Purple...Navy Blue...Steel Grey...all are OUT, OUT, OUT! Step away from the DARK paint! It was tried...and it was "different" though not good for a year or two...and it is now OVER!

Whether or not you are selling your house...be mindful of how your surroundings impact your daily life. Dark = NO in Seattle. it's just too dark here. White - Yes...and whether or not you like white, you might want to look at that from a different perspective.

Do you like yourself?

Do you want to be happy?

Are you constantly feeling like Seattle is "getting you down"?

If yes - then do something about that - REDECORATE in lighter, brighter and even starkly whiter...tones.

Dec. 26, 2011 - 2011 Home Prices in Lake Washington School District 2012

A Quick Update on Single Family Home Prices in The Lake Washington School District. The median price has been pretty stable at $500,000 to $525,000 for the last three years. A little up in 2010 and back down in 2011 but still only 2% off from 2009. Not much change at all.

The mix has changed a bit with 75% of all sales falling between $302,000 and $775,000. 12% are less and 12% are more.

Inventory is very low in most price ranges, as the graph below indicates. Since we are not quite at the end of 2011, I did the below charts based on the last 365 days vs. Year to Date.

There is almost no price range where there is plenty of inventory. The dark blue line represents homes for sale and the lighter blue represents the number of homes sold in the last 365 days. The lower end may dry up at some point if short sales and bank owneds work themselves through. 

Total number of homes sold has been increasing every year, so the lower end drying up may not have an impact on the $400,000 to $700,000 market. In fact some of those under $300,000 sales may have been sold again as flips in the higher price range, accounting for the increase in sales due to some being sold twice in the same year.

2012 Home Prices in Lake Washington School District will have a lot to do with Supply and Demand. Appraisers have been pretty strict in not allowing for a lot of growth in prices. So even if Supply continues to fall short of Demand, don't expect to see that having any great affect on prices, unless you see a lot of buyers willing to pay the difference between sold price and appraised value in cash. I don't see that happening...so expect 2012 to be similar to 2009 through 2011.

The median price may take a hit, but likely only because the builders have run out of inventory for the most part. That may give resale homes a boost. We should see a shift making it easier for owners to compete with builders, and that has not been the case for a long time. 

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(Required Disclosure: Stats are not compiled, verified or Published By The Northwest Multiple Listing Service.)

Dec. 1, 2011 - Redmond WA Home Prices - Education Hill

The charts below show the price changes in Abbey Road on Education Hill in Redmond from the time the first home was sold in 1990 to present. There are 205 Homes in Abbey Road - Six different sub-divisions.

% Change YOY

Oct. 26, 2011 - Seattle Starter Home Styles - One Story w/Basement

A One Story with Basement homestyle if fairly typical of many "starter homes" in Seattle. Here is a basic breakdown of one of those homes, and a full post I wrote over on Rain City Guide with some other important tips about understanding this basic home style.

Oct. 17, 2011 - Do I need to sell my house before I buy a new one?

Instead of thinking about it as "selling a house" and "buying a house", you should be stating as your goal "getting from here to there".

A first time buyer who is currently renting, simply needs to coordinate their notice by the 10th of the month to insure a smooth transition. 

But those who currently own and are moving to a new house, require a completely different strategy.  Before you go out to look at homes to buy, you should get your home completely ready to sell.  Using the same real estate professional to sell your home and to buy your new home, particularly if you are staying in the same area, is a great advantage.  Have the agent come to your house before you go out looking for homes to purchase.  Complete everything on the agent's checklist needed to insure a fast sale at a high price.  Then go out and look at homes. 

If there are several for sale that you like a lot, then list your home in the mls before you make an offer.  Since you have already prepared it for market, that should take about an hour.  You should not have to go into temporary housing by selling first unless you have a particularly difficult property to sell. If you are not getting good activity and feedback, be quick to make changes needed and as recommended by your real estate professional. 

Weekly evaluations are in order after the first 10 days on market.  You should be able to sell your home and buy your new dream home in short order, if you have a good agent and remain open to their suggestions regarding the property you are selling.

Oct. 17, 2011 - What Day of the Week Should You List Your Home For Sale?

What is the Best Day of the Week to List Your Home For Sale?

First and Foremost I use Pall Masson's sentiment of "No Wine Before Its Time" depicted in ads by Orson Welles back in 1980. Perfecting the Display of "the product" is more important than what day the home is listed for sale. 

The home below, which was in Woodinville, I listed and sold in 4 days and is a good example.

Generally I don't aim for a house to sell that quickly. 30 to 60 days is more the norm. This was an exception because we had a 30 day "contingent" offer out on this seller's Dream Home purchase, and were consequently under the gun to get an offer within 30 days...which turned out to be 4 days.

This Home was listed on a Sunday Night, which is often my favored time if my goal is for an Agent from another Brokerage to sell it before the first Open House the following Sunday. I thought about this because Redfin came out with a report today that Sunday is the day to list a home if you want "showings" during that week, which they call "tours". 

This home was listed at $399,950 and sold for $395,000 after the Home Inspection negotiation was "resolved". Only 4 days to "sell", BUT it took literally months to perfect the online presentation while the sellers were looking for the home they wanted to purchase.

People who already own a home and have a small child, as in this case, often don't want to list their home for sale until they find the right house for them to move to. Excellent real life strategy, but easier said than done.

This worked well...because I started working on the home and photos from day one, back when the owners first contacted me on 9/20/2009, even though we did not list the home until 3/28/2010. It is important to contact the agent you want to sell your home, before going out to look for homes to buy. You want to be READY to list the home the day you find that home you want to buy...and the process, depending on your home, can take a long time to do it right and well. 

Does it really take SIX MONTHS to get a house ready for market? It can take 4 to 10 days. But why not have a list of what you may need to do to the home as soon as you know you are going to be selling the home? That gives you plenty of time to make changes with NO stress! Also, it is often hard to get a nice "blue sky" photo like this one in a short period of time. Our Seattle Weather is not always accommodating to that objective. 

By having lots of lead time, I was able to get the perfect exterior photo well before the interior was ready for "Picture Day".

The owners had a little toddler and a couple of cats running around, but you would never know it from those photos above. Being successful at your objective is often best accomplished by calling the professional in the minute you have a thought to maybe sell your home...even if that is several months in advance of your actually doing that. 

You never get a 2nd chance to make a first impression is the #1 Rule of Real Estate, as most homes get the most online views on the first day they hit the market. No real opportunity for "Do Overs" with the same result.

Never rush the DAY to List...always start getting the home ready as early as possible in the process. "No Listing Before Its Time" when Best Possible Online Display is ready, is the best course of Action.

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ARDELL - SOUND REALTY - 206-910-1000 - ARDELLd@gmail.com

Sep. 28, 2011 - Redmond WA Homes Sold 88% of 2001 volume

At first glance one would be elated to see that Homes in Redmond Washington appear to have recovered as to volume sold at 88% of 2001 "pre bubble" levels.

That is indeed good and healthy for Redmond generally, but not necessarily great news for people who are trying to sell their homes.

If you look at the breakdown of homes sold by age of home you will see that a high percentage of homes selling were built since 2001, and still being built right now. The light blue represents the # of homes sold in that age group in 2001. The dark blue shows the number of homes sold in 2010.

A huge drop in volume sold for all but the newest of homes.

When comparing that to areas like Federal Way that do not have as many new homes, the volume drop for homes built prior to 2001 is more comparable and the new homes are driving the Redmond Market as to volume sold and median home price generally.

Looking at the weaker lower tier price market in Federal Way, it's easy to see that the new homes in Redmond are what are propping up both the Redmond stats and the higher tier of home prices. 

Given the choice between new or old...many choose new. If there are not enough new homes for people to buy, the sales stats languish. I guess we need more teardowns. But to get there, land prices would have to go down considerably.

Maybe if all the new houses run out? Right now most people are staying on the sidelines if they can't get what they really want.

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(Required Disclosure - Stats in this post and graphs are not compiled, verified or published by The Northwest Multiple Listing Service)