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ARDELL's Seattle Area Real Estate Blog

- Seattle and Eastside Real Estate

Ardell DellaLoggia is a Broker at Sound Realty

To see an up to date list of Homes Sold and Sellers or Buyers Represented by ARDELL click HERE.

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Jan. 17, 2014 - What are Clerestory Windows?

Clerestory Windows, pronounced clear-story, are not really a type of window but a position of window. Here in the Seattle Area clerestory windows are often narrow and wide. What actually makes them clerestory windows is not the shape or size of the window, but that they are placed high in the room and usually above the average ceiling height. The roof line is usually raised at that point as well so that the windows bring in additional natural light, but usually someone of average height cannot see into them from outside and from inside all you can see through them is the sky.

Here is an example from a condo I just helped a client sell in Kirkland. The owner had installed blinds over these and there were closed. Usually you would not put blinds on clerestory windows at all, and I had the owner go up and open the blinds that were closed.

Usually best if there are no blinds or window treatments at all on clerestory windows.

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Jan. 15, 2014 - Reviews and Ratings - Ardell dellaLoggia

 A dozen or so of my past clients just posted a rating and review on Zillow. I was surprised by some of the writings. Click HERE to see them.

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Jan. 12, 2014 - Selling a Home in Redmond Washington

Redmond Washington has two Zip Codes: 98052 and 98053. But unlike Kirkland which has more overlap for home buyers and home sellers between its two zip codes of 98033 and 98034, Redmond overlaps more with Bellevue than the further out Redmond Zip Code of 98053.

Redmond Real Estate is a lot easier than Kirkland Real Estate that required many graphs and two posts because of huge neighborhood price variances somewhat attributable to close into town and water access and/or water and mountain views. Redmond is a more cohesive market with less variance from high to low than Kirkland. 

I don't include 98053 with 98052 as that market is temporarily shifting due to new construction, but the sustainability in 98053 without a large vs small lot is clearly up in the air going forward when those homes come on market as resale homes.

For 98052 it is pretty simple...we can just use the Pie Chart for the three price tiers for this one.

In Redmond the only real issue as to pricing is Newer home or Older home. Big lot or Small lot. Busy Road or other nuisance issues or Prime location. The only big issue here is ranking of the Elementary School, and that alters the norm as to close in or not differently than Kirkland where the best schools are close in.

Basically Redmond operates like a suburb...cohesive...not a lot of major pitfalls that you can't readily see with your eyes or know by doing a little homework on the internet.

I'm not going to do an Absorption Rate Graph for Redmond. For those who need a review on what that is please read this morning's posts HERE, HERE and HERE if you haven't already done so.

The News for 2014 as to Low Inventory is pretty repetitive here without a huge glut in the high end like Kirkland because frankly, Redmond doesn't have a "high end". There is almost no inventory PERIOD until you get over $708,000 and even then there are very, very few homes who are priced out of the market altogether for Redmond at over a million dollars. A few of those will be with reason the same as I noted regarding Holme's Point and Goat Hill earlier today.

No big news for Redmond going into 2014 except finding a new construction house comes with severe constraints and potential financial peril, and you need to be VERY CAREFUL if you are buying NEW vs NEWer in Redmond. Complicated to explain in a blog why that is, but it's fairly apparent if you are out home shopping and are a fairly savvy home buyer.

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(Required Disclosure: Stats in this post are not compiled, verified or published by The Northwest Multiple Listing Service NWMLS The MLS)

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Jan. 12, 2014 - Selling a Home in Holmes Point Kirkland WA

Before we move to Holmes Point and 98034 I am posting the absorption rate graphs summarizing the stats from this morning's post on 98033. In 98033, basically a strong seller's market for a full 2/3rds of the market priced at under $775k based on 2013 closed sale data and currently for sale in 2014 as of today. Still a seller's market but not as strong up to $1.5 Million where it abruptly shifts to a Buyer's Market with Nine Months of standing inventory before we add new listings in 2014. All this makes sense if you read this morning's post and for those who didn't the link is above. On to 98034.

In the graph below you see a very similar pattern BUT with different price points for 98034.

Again...almost NO inventory for 2/3rds of would be buyers in 98034. "would be" buyers means that 2/3rds of all people who purchased a home in 98034 in 2013 spent less than $494,000 for a home. In 98033 that cut off price was $774,000. HUGE difference in price point, but same pattern of less than a one month supply on market until we get to the last 1/3rd of "would be" buyers. In 98034 I had to break out that last 1/3 twice. In the first round in the graph on the right we only jump from a Seller's Market to a Balanced market until we break out that Balanced Market one more time into 3rds in the bottom graph. 

When we peek into the 6 months of inventory for homes priced over $670,000 in 98034 we see 14 months of inventory over $1.5 Million and shift from a Seller's or Balanced Market into a Buyer's Market at $1 million in 98034 vs $1.5 Million in 98033.

The 98034 neighborhoods of Holmes Point, Juanita Point, Champagne Point and Goat Hill will overlap into 98033 BUT will not carry the same price points as if they actually are 98033. Likewise the neighborhoods of Rose Hill and part of The Highlands will overlap more with 98034 pricing AND a small smidgen of Woodinville will overlap Kirkland.

The difference will be that 98034 with water access and view will still be at a disadvantage to say West of Market but at an advantage to Finn Hill. For those who know Kirkland somewhat, that will make perfect sense and be supported by the data above and in this morning's post. 

For specific information as to how the home you are selling or buying fits into this, you would have to call me at 206-910-1000 BEFORE you hire an agent. Agents are not allowed to discuss property with people who have already hired an agent. So do your homework before you pick an agent, so as to get the most info available before proceeding on your journey to home ownership or selling a home.

 

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(Required Disclosure: Stats in this post are not compiled, verified or published by The Northwest Multiple Listing Serves NWMLS The MLS.)

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Jan. 12, 2014 - Selling a Home - King County Washington

If you are selling a home in King County you need to break the data down further than what appears in the charts and graphs below regarding County Wide stats. I am doing "break outs" for Zip Codes Kirkland 98033, 98034,Bellevue 98004 and Redmond 98052 for reasons to do with my current client base.

I posted broad info on Kirkland 98033 yesterday and you can calculate your own aborption chart for 98033 using the info there. But when I'm finished parking the County-wide stats here I will be doing the 98033 - 98034 Kirkland comparison and breakouts for all of the other Zip Codes noted above. So probably better to just wait for it and I will put a link below this sentence to all of the by Zip code data.

The post regarding the below data on a County-wide basis is on Rain City Guide in that link with some commentary on the big swings in Bellevue 98004 and 98005 and some other Eastside commentary.

 

In the pie charts below the right chart represents the five 20% each price breakdowns that buyer's paid in 2013. In the pie chart on the right you can see the # of homes currently for sale in each of those same price points. However the bar chart above shows you the months of supply that active inventory represents for each segment with more breakdown for the red section.

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

 

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ARDELL DellaLoggia of Sound Realty on Seattle Real Estate process and market including Kirkland, Bellevue, Redmond, Green Lake and most areas around the top of Lake Washington North of Downtown Seattle. Phone: 206-910-1000 - Mailto:ARDELLd@gmail.com

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