Is Seattle’s real estate turning into E-Bay?
It’s a fact that Seattle’s real estate market is looking more like spring time in the Pacific Northwest; not the quiet winter month’s people tend to expect. Buyers are out in full force and it’s not unusual to have 100 buyers through a Saturday or Sunday open house. This is simply due to supply and demand: low inventory of homes for sale. Are buyers frustrated or has it become the norm? Is Seattle real estate turning into E-Bay?
I couldn’t help but smile when my client asked me if the property I was showing him was going to turn into an E-Bay auction. The property was a luxury home and on the market for less than 24 hours. I simply told him “yes”. I then followed by “but what do you have to lose?” If you don’t try then you’ll never know.
Here’s the deal: buyers will either see a new listing (priced accordingly) and the listing agent delays reviewing any offers after 6 days of market exposure. Or buyers will see a new listing where the listing agent omits this remark and its first come, first serve. I’ve sold several homes by just being first in this instance. It saves buyers a lot of money and anxiety. Thankfully I’ve had buyers who are accessible and are motivated to meet me at the property very quickly. If you run into the first scenario, however, chances are the property will most likely go to “the highest bidder”. So how do you get there?
Have a buyer’s agent who is on the ball and can educate you about the market. I’ve seen things selling for about 7% over list price or about $50k. Obviously buyers need to have their finances together. I haven’t seen an FHA in a long, long time. Everything is conventional or cash now. Good thing interest rates are crazy low right now. Get the home pre-inspected IF IT MAKES SENSE TO. If it’s a short sale, probably don’t need to get it pre-inspected. Buyers: if you can’t go enough above the list price (and this is where a good buyer’s agent comes in) then don’t waste $300 to $500 for a pre-inspection. There are other terms and conditions and of course every situation is unique. Feel free to contact me if you’d like more market conditions or making your offer stand out.
I don’t see buyers getting frustrated, at least not the buyers I’m working with. I see more buyers making more offers and if I didn’t know better, I think they’re enjoying the excitement.
Oh and my client with the E-Bay question got the house of his dreams, with multiple offers and his family moves in next month.
See ya next time,
Molly Cartwright, Broker and Green Lake resident
How To Buy When You Already Own
Do you own your home or condo but want to sell it and buy something with more space, a different location, or perhaps a view?
One option is to take out a HELOC. A Home Equity Line of Credit (ask me for a lender with great programs of these right now) lets you take out a certain percentage of your home’s equity to use as a downpayment on your new home. To find out how much equity you have, contact a Realtor, like myself, to research the value of your home (it changes ALL the time). If you have a certain percentage of equity, you can qualify for a new loan. And if you’re preapproved for your new home loan, I can get the home you want to sell prepped for the market pronto!
Another option is a bridge loan. A bridge loan has some ramifications though. They generally tend to have higher interest rates and need to be paid back in a specified amount of time. It’s like a short term loan on your current property to buy a different property. It’s all about timing with a bridge loan. You can find out more about bridge loans HERE.
You can always make an offer contingent on your home selling. This is perhaps the option offering the least amount of risk. Of course with our current market today, properties are moving fast and a contingent offer isn’t as clean as an offer with a definitive close date, for example. But if are you a homeowner considering the contingent offer option, consider the right list price and a home in tip-top shape, it won’t take long to sell.
molly a. cartwright | seattle realtor
cooper jacobs real estate, llc
“Serving home buyers and sellers in Seattle’s most popular neighborhoods”
Do you ever wonder how this real estate stuff works when you buy or sell a home? Who pays who in a real estate transaction?
Over the years, I’ve had plenty of buyers ask me how much my realtor fees are if we work together. Likewise, I’ve had sellers shocked to find out what they have to pay for excise tax in our city. A seller’s net proceeds or a buyer’s closing cost worksheet are always in my back pocket to get down to an approximate number. Traditionally the commission percentage (which can vary) come from the seller’s wallet (sorry guys)…but that’s not to say there can be different scenarios.
So why am I a buyer’s agent? First of all, I absolutely love working with buyers! And secondly I LOVE looking at homes. I listen very carefully my clients. First we have to get through the NEEDS and then we talk about the WANTS. I love the satisfaction of walking into a home with my clients and they instantly fall in love with it. But more times than not, there are compromises so I’m all about letting my clients know what their options are. The permit process, the cost of remodeling, the little tweaks you can do here and there. It’s all so much fun to me and I can see the client getting excited as we proceed down the road.
The road is an exciting one too. I can probably explain the transaction process of buying or selling a home about 100 different ways depending on the client (unfortunately not in a 100 different languages because that would be really cool). Sometimes it’s a new home buyer, sometimes its an investor, and sometimes it’s a buy up or a buy down . I talk to the buyer about terms, the market, escrow, inspection, appraisal, the 21 page purchase and sale contract and specifically what to expect and what not to expect. It’s great! The anticipation of presenting a killer offer to the seller is my favorite. Are you interested in talking to me as a buyer’s agent? I’d be happy to talk to you too!
I HEART Green Lake (my ‘hood), Tangletown, Wallingford, Phinney, Ravenna and Ballard. Got car. Will travel.
molly a. cartwright | seattle realtor since 2001
cooper jacobs real estate, llc
206.841.6800 | cooperjacobs.com | greenlakeloop.com
“Serving home buyers and sellers in Seattle’s most popular neighborhoods”
Green Lake Real Estate Market Update $900k & Up:
Green Lake estate homes sold recently include:
- 6644 E Green Lake Way N: 4 days on the market listed for $900,000 and sold for $925,000
- 2344 N 62nd St: 7 days on the market listed for $925,000 and sold for $975,000
- 7611 W Green Lake Drive N: 4 days on the market listed for $965,000 and sold for $957,000
- 7621 W Green Lake Drive N: 23 days on the market listed for $1,189,000 and sold for $1,120,000
- 5726 Kirkwood Place N: 3 days on the market listed for $1,250,000 and sold for $1,225,000
The median sales price for these Green Lake homes sold is $975,000.
The average days on market for all of these combined is only 8 days.
Green Lake Seller Alert:
There is a demand for higher end Green Lake estate homes. I would like to offer you a clear plan on selling your Green Lake estate.
Green Lake is a wonderful Seattle neighborhood – if you are interested in Green Lake homes for sale, please let us know what we can do for you. We have excellent Green Lake listing agents and also some of the very best Green Lake Realtors for buyers.
Cooper Jacobs Real Estate is different and we want to show you why. email@example.com
1/2 mile to the Green Lake loop…
9254 Wallingford Avenue N. Seattle, WA 98103
MLS No. 402104
Value & versatility everywhere you look including wonderful mother-in law area, full bath and utility room all with quality construction. The homes theme is light and spacious and designed with an open floor plan. Three bedrooms on main floor plus superb chef’s kitchen. The lower level hosts a fourth bedroom, extra room for big office, full bath AND utility & storage area. Terrific access to freeways, shopping, sought after schools and more neighborhood amenities. This home’s plumbing & electrical has been updated! Also, find new roof & fresh stylish paint to bring this property to the top of it’s competition. Take a tour and you’ll see that it’s built to impress.
Please contact Nancy House with any questions about this new listing:
Cooper Jacobs Real Estate
Cute One-of-a-Kind Green Lake House Open This Weekend
Here’s the link to the listing: As a Phinneywood specialist and longtime resident I am holding a very special open house this Saturday and Sunday April 28 and 29th from 1-4 for National Open House weekend. This home is truly one of a kind in the area. Located just a couple of short blocks from the Woodland Park Zoo. A few years ago it was a neglected original Green Lake cabin from the beginning of the last century (maybe even older) then it was completely reinvented as a charming family home on a small foot print with a second story and a finished basement. It might have had one of the smallest floor areas five years ago, but it lives big now. Perched above the street it boasts privacy and and a quiet backyard complete with a water feature and granite retaining walls.
Beautiful Lanscaping and Shade Gardens
Safe to say you haven’t seen another lot like this, and the house is completely remodeled top to bottom. What was once a garage is now a finished bedroom (buyer to verify) or office space and a 3/4 bath. It’s the kind of house that you could easily drive right by on the street without noticing it perched proudly above the street and out of the way, but once you are inside you will find light filled spaces and views over Greenlake Park towards the Cascade Mountains and beyond in your own little private “treehouse”. The master is on the top floor along with another bedroom and a spacious full bath. The ground floor entry level has gleaming hardwood floors, a kitchen with granite counter tops and Stainless Steel appliances, the original brick fireplace in the living room, dining space and a powder room all in an open floor plan.
Open Ground Floor Plan
Downstairs is the laundry room and the converted garage. This house doesn’t scream” look at me”, tucked behind and underneath mature trees but you will appreciate the privacy the mature plantings provide when you are inside. Outside is a well executed landscape plan with low maintenance in mind and year-round color. It’s a charming oasis without a lawn to mow. Complete with a functioning pond,backyard deck and other outdoor “rooms”. OK, it might be a stretch, calling this a” treehouse” with it’s firm concrete foundation and traditional stick built construction. I am referring to how it feels to live in this space. Perched high above the street and sidewalk, placed well above the neighbor to the east, buffeted by the beautiful granite walls to the west (they don’t make them like they used to!), under the large tree to the back of the lot, and the unique tree south of the front door. What I am alluding to is the sense of peace and quiet and privacy with the views looking over the neighbor’s home to the views to the east from the master bedroom and balcony and to the views towards the south in the second upstairs bedroom and ground level.
Bird's eye view from the sunny side of the street
One can’t help but feel above it all in their own private light-filled spaces away from whatever might be happening down below at street level. It’s a very walkable neighborhood, zoo concerts blocks away in the summer along with the Woodlawn and Greenlake parks just down the hill. Up the hill with a Walk Score of 69 is Phinney Ave North with all the restuarants, pubs and galleries. The PNA has zip cars as well as classes and it’s myriad of other activites. To learn more about this special jewelbox of a home please contact: Kim Mulligan kim-mulligan.com firstname.lastname@example.org 206-579-9066
Heads Out for Spring
The turtles have come out of hibernation on Green Lake and Lake Washington and many people are thrilled to see them. For some folks, seeing the turtles bask in the sun on wooden logs is the unofficial start to Spring.
Turtles surfacing the waterline is a magical time in Seattle. These shelled critters act as a barometer for this body of water we know as Green Lake.Many of the flowers and cherry blossom trees have been out for about a month now but the turtles seem to know when there’s little chance of going back to freezing temperatures.
Baseball’s in the air too! The Seattle Mariners have their season opening game at Safeco Field today after starting the season overseas in Japan. There have been more and more Green Lake open houses, too, and that’s another sign that warmer weather and sunny days are more common. If you are interested in open houses held by Cooper Jacobs please contact us at email@example.com.
If you are looking at homes for sale in Seattle, then Green Lake is a great place to live.
Active Green Lake real estate listings can be viewed at Green Lake Properties.
For ALL the listings in Seattle and surrounding neighborhoods go to www.cooperjacobs.com.
Green Lake Real Estate in Seattle, WA
Click on any of the Green Lake homes for sale below – This page has all listings from all Seattle real estate companies and is current from information swept from the NWMLS for changes every 15-20 minutes. You can find all Green Lake Seattle real estate here including Green Lake homes & condos and even some Luxury Green Lake property for sale.
Green Lake Real Estate in Seattle WA – Find Green Lake homes For Sale
My client is pregnant with twins. And while this new experience is super exciting for her and her husband, the four story townhome is not so much exciting. There is literally a bedroom on every floor. Not screaming practical here.
Time to stock up the car with plenty of bottled water and m&m’s.
They live in the uber-urban neighborhood of Wallingford and didn’t want to venture too far away since schools are a major focus now. So my checklist reads:
- Great Schools
- Walkable and Safe Neighborhood
- Practical Floorplan with Four Bedrooms, 2,000 sq ft.
- Easy Commute to Work
- $500,000 to $600,000 Range
Do any of these ring a bell?
Green Lake Beach
First we look in Greenwood because of an amazing 2011 home just built. Almost a perfect fit: 4 out of 6. Bonus: Two car garage! Overall, the neighborhood wasn’t for them. No sidewalks (one of those things I keep hearing about Greenwood) and walkability was poor. And I’ll give it a 5 out of 10 on the school-meter.
We look in Ballard. Too far West for commuting purposes. Plus they weren’t familiar with the neighborhood and I think this psyched them out a bit.
Wallingford was up next. They found some wonderfully updated bungalows in this uber-urban neighborhood. They were shocked by the price per square foot and really – when you’re having twins plus a nanny – you want square footage.
I guess I left the best for last. Green Lake was our final destination. Bingo!
Wallingford Park and Wading Pool
It was a Sunday afternoon and I was at an open house for my own Green Lake listing. She and her husband went to an Open House and fell in love with it. Who said Open Houses don’t sell houses? We wrote it up the next day. They can walk to PCC, Green Lake Park is across the street and when they get hungry they can walk to Duke’s, Blu Water Bistro then Ben and Jerry’s for dessert. Daniel Bagley Elementary is one of the top desirable k-5 elementary schools and they also have a Montessori. If private schools are more your thing, St. Joseph’s is right up the road on 80th Ave.
Happy Mommy. Happy Daddy. And soon to be Happy Twins this Fall.
Welcome to Green Lake, New Home Owner!
My Favorite Yellow Castle
Congratulations if you are one of the lucky 26 people who can call Green Lake home. The month of May turned out to be a successful month for sales in this paddle-boarding, bike-riding neighborhood. The previous two months – even more successful! Crazy to imagine 87 homes were sold in the last three months – all of which have 1, 2, 3…5 each in a household. I know of a couple households which sold their Green Lake home only to move two blocks away. It’s nice to know growing families want to stay here. So let’s look at the numbers in a glance:
March 2011 - Booming! 34 homes sold with an average of 84 days on the market. Okay – that last number is not so great. Probably just people getting out of the winter hibernation. We want days on market to be more like 30. Homes were also selling on average for roughly $423,000….better (if you’re a seller) than the average price today.
April 2001 – Sweet! 27 homes sold with an average of 49 days on the market. Okay – better! People thinking ahead for summer and school changes. Homes were selling on average for roughly $406,800…better (if you’re a buyer).
May 2011 – Looking ahead! 26 homes sold with an average of 41 days on the market. Okay – getting there! More sun, longer days. Homes were selling on average for roughly $397,500….really better (if you’re a buyer).
So what if you’re a seller? Yes, the average prices have come down in the last three months IF YOU’RE LOOKING AT AVERAGES. See the thing with averages are there might be a million dollar home that sold…which happened in March ($1,225,000 to be exact) which then shoots up the average.
Then you look at April and the highest house sold was $698,500..which went OVER asking price. Yay! In May it looks like $785,000 was the highest house sold.
If someone were to ask me what the average price of a Green Lake home is, I would say a solid $500,000 with 3 bedrooms /2 bath, garage, and logical upgrades on a great avenues like Corliss and Bagley.
Tangletown has really sprung into action too. Tangletown is known around here by mostly the locals. Here’s the equation:
Dive bar/nice bar/ to die for sushi,/cafe complete with free wi-fi/ hip salon/dentist/ dry cleaner, and of course you got your quick market + many zig zag residential (walkable) tree lined streets = tangletown.
Oh yeah, and it’s four blocks from the lake. Bam!