Green Lake Home Owner Selling Tips: If you are thinking about moving right now, there are some different approaches you need to take to be successful. We have a list of qualified Green Lake buyers waiting for the right house to come on the market. You won't have any trouble selling your house. No one can argue that fact right now.
Inventory is low and it is common to have multiple offers numbering in the teens.
The issue is making sure you take full advantage of the the situation by maximizing the terms to your benefit.
Some of the considerations
Where are you planning on moving and what are the market conditions there? If you plan on purchasing a Seattle home in Green Lake or another hot neighborhood, then you should be well prepared for making a competitive offer. Many people like to sell before moving, but in today's market if you have the ability at all to purchase and then sell your Green Lake home, then you have a safety net of making sure you secure your new home before you sell your current one.
Pricing: We can get you far more money then you probably imagined for your home. That is just the reality of the situation right now. Let us know what your timeline is and we can give you a better idea of price as well as provide you with a detailed market analysis to show you what is going on on a day to day basis. Real estate changes daily and it is important to rely on an expert on the street.
Inspections, Preinspections, disclosures. Be prepared for buyers to preinspect your home before making an offer. This is so they can safely waive their inspection and offer you a stronger contract. Many buyers are also just waiving the inspection without preinspecting. In addition to a traditional structural inspection, many buyers are having a sewer scope performed on homes they are putting offers in on. Be prepared to possibly disclose newly discovered information about your home as a result of things that could come up in negotiations if you accept an offer subject to inspection. Choosing an offer that has either completely waived the inspection or has waived it based on a preinspection protects you from the possibility of having to disclose additional information you may not otherwise have knowledge of.
There are more things to consider. I am happy to sit down with you and discuss your particular situation to help you gain the biggest return on your hard earned investment.
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.
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
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.
Looking to buy some Tangletown Real Estate? Is it a wise purchase? What kind of neighborhood life is Tangletown? What about the schools?
Geographically, Tangletown is nestled between south Green Lake and north Wallingford. Living here you can still take advantage of Green Lake’s paddle boats and basketball courts while walking to Wallingford for a glass of wine and live music. But Tangletown has its own main drag (North 56th Street) you don’t want to miss! Get an updo at Beehive Salon then walk across the street to grab one of many hotdog selections at Diggity Dog Hot Dog & Sausage stand and wash it down with a brew at the local Elysian Brewing Company ~ just kiddy corner from Might O Donuts.
Tangletown is probably most proud of Zoka. Zoka is a super cool cafe which roasts its own coffee beans, has delicious pastries and lot of seating for those important meetings with your wedding planner or hunkering down to write that mid term paper for school.
Because of the quaint parameters of Tangletown‘s borders, it has seen average solds for the last six months. 13 solds to be exact. $214,000 buys you a 500 square foot studio or an expansive $1,280,000 beautiful home with over 3,000 square feet of living space. So the average days on the market are only 24 days from these sold properties and the average price is around $564,000. This is just under the FHA loan limit of $567,500. Believe me, a minimum downpayment of 3.0% is worth buying a home in Tangletown.
The schools are amazing! Let’s start with daycare and pre-kindergarden. Green Lake Day Care and Preschool, managed by Anne Kelly, is a safe place you can trust. Located at 63rd and Green Lake, it has three separate rooms for the Poohbears, Piglets, and Tiggers in a huge brick church. My daugther went there from 1 year old as a Poohbear and graduated at age 5 as a Tigger. She’s seven now and STILL talks about her teachers from Green Lake Day Care and Preschool.
The Elementary school will be McDonald in 2012 after a complete facelift but for now, it’s Lincoln Elementary. Middle School is going to be Hamilton, and Roosevelt for high school. I recommend going to the Seattle Public Schools Website for more detailed information.
Tangletown has some charming homes on the market right now! There are 10 single family homes and 1 condo for sale in Tangletown. Find more at Cooper Jacobs Real Estate.
Condos vs Lawsuit: How does Green Lake Compare? Recently I had the need to look up some downtown Seattle condos for a buyer. One right after another I would find the perfect place. And one right after another there were pending lawsuits ~ some even lingering for 4 years. From a faulty roof to some twisting their ankle to the builder’s shoty construction.
Green Lake's Circa Condos
Oh boy, this is going to harder than I thought. Then I encouraged my buyer to look just 5 minutes north to Green Lake. I held my breath as I researched my Condos vs Lawsuit predictament. What did I find?
13 ACTIVE CONDO and/or townhome listings right now in Green Lake. Only one has a pending lawsuit. I can now exhale.
Lenders + pending litigation = red flag.
Lenders see the number of units going up for sale but none of them closing.
If you’re a buyer who has cash or a healthy downpayment – 20…30% or more and want rock bottom prices then by all means – consider buying that bank owned condo. Just make sure the builder has agreed to pay for litigation and remedy the problem in full. Also make sure any assessments are spelled out in the condo association.
The first question I raise when my client is thinking about purchasing a condo is whether the Home Owner Association is healthy. Does it have lawsuits pending, how are the reserves, what condition is the building in, are the monthly HOD in sync with the condition and ammenities of the condo building.
Green Lake is more populated with single family homes but there are some amazing deals right now for condos too ~ as low as $163,400 for a 1 bed 1 bath and clean as a whistle!
I look forward to hearing from you! Feel free to write any comments, questions, or feedback. If you’re in the condo or townhome market, Cooper Jacobs Real Estate would be happy to show you these excellent investments.
Green Lake Blog: Condo Market VS Townhouse Market.
I was curious what the latest and greatest were on the Green Lake condo vs. townhouse market. If you’re in the market to buy either a condo or townhome, chances are you have your eye on both types of housing structure.
Okay, so let’s look at the Green Lake CONDO conditions first:
Currently there are only 16 ACTIVE listings looking to get sold.
Ranging from $179,000 for a 1987 2 bed/2bath unit to a gleaming 2003 $639,000 unit with views. 2 bed, 2 bath, 1522 square feet of living space and just steps to the lake! These pedestrian lifestyle condos are loaded with amenities anywhere between granite and garages, creative storage, and rooftop decks. The average number of days on the market is 99.
8 condos SOLD in the last six months! Average days on the market is 31. And of these 31 days, the seller received 97.3% of their asking price. Between 31 and 60 days, seller received 99% of asking price. Bottom line: Priced right = it will sell. But the inventory is low low low for condos in Green Lake and only 8 selling in the last six months tells me people are holding them or renting them. Many of the buildings originally planned for condo living coverted to apartments so this would explain the inventory lack of inventory.
So let’s look at Green Lake Townhouse stats. Currently, a whopping 23 lovely townhouses for sale in Green Lake.
The prices range from $259,000 to $540,000. And just like the range in pricing, so are the range of homes. From brand new structures with views, eco-efficient uses, and modern twists with 2 bed 2 bath and 1256 square feet of luxury to an adorable 1000 square feet townhome with private fenced areas and priced right! All walking distance to Green Lake which supplies an endless array of sport activities, a very popular community center, restaurants, bars, cafes and local merchants.
How many sold townhouses within the last six months in Green Lake?
These don’t include pending sales (which are just about to close). To including pending sales that figure bumps up to 64. Out of 55 solds, 33 were in the $300,000 to $350,000 price range.
Average Days On The Market: 45
Percent Of Original Asking Price: 99.5%
Average Square Footage: 1549
Average Sold Price: $353,091
Which gives us a grand total of roughly $227.00 per square foot on average.
It’s a healthy condo and townhouse market in Green Lake!
In the Northern part of Seattle, you can find homes in the amazing neighborhood of Green Lake! Green Lake official neighborhood boundaries are pretty much on the North and West side of the lake itself (between I-5 and 99 and 85th and 50th), but I consider all the homes that surround Greenlake to be in the neighborhood of Green Lake or to at least have that same feeling. The fact of the matter is if you are within a few blocks or more from the lake then you are in Green Lake real estate zone or close enough. Our Seattle neighborhood boundaries are “flexible”.
So why does everyone want to live by this lake?
The actual Greenlake park is pretty wonderful with large open spaces and a loop that surrounds the lake itself. It is roughly three miles long and quite an asset to have close by! This is why other close by neighborhoods can seem to mash into Green lake a bit.
Besides the lake itself, there are shops and restaurants galore all near the heart of this great neighborhood and it is also easy to commute from here in all directions. Green Lake is a great choice for University of Washington commuting, too!
Homes in this North Seattle area of Green Lake include some wonderful choices and interesting real estate! Green Lake townhomes, condos, bungalows, and newer Built Green options are all here! You can find homes anywhere between 1900 and new construction in Green Lake, but many tend to be 1920 ans 1930 built homes. Some are in original condition and falling apart, but luckily most of the homes in this area have been lovingly restored! Townhouse developments here are thoughtful and there are a lot of green real estate options as well. Just wanting to get into a condo? There are some great Seattle condos in Green Lake!
Other Seattle neighborhoods with homes close to this Green Lake?
Parts of Wallingford, Greenwood, Licton Springs, and Phinney Ridge are all very close to Green Lake and offer some great Seattle real estate. Maple Leaf and Ravenna are both right over the freeway from Greenlake. If you are on the edge of any of these close together North Seattle neighborhoods, then you can also enjoy Green Lake without much effort!
Let us know if you are interested in this Seattle neighborhood or others nearby…
Seattle Real Estate 2008: Green Lake Townhouse Market vs. Other Residential…Townhomes in Seattle Neighborhoods
Seattle neighborhoods have a pretty big townhome market in some areas. Green Lake in Seattle is one of those. In some ways this has been good because it has allowed buyers to be able to afford Green Lake living when stand alone houses in Green Lake got to expensive for them. Buying a townhouse in Green Lake isn’t that inexpensive, however, but let’s look at some of the numbers for March 2008 as of today. These are from the MLS (NWMLS) search and compiled by me.
It is interesting to look at the total impact of townhomes on the Green Lake real estate market next to other residential listings. Looking at Active (Active, Contingent, and Subject to Inspection ) listings in the MLS, 50 of those are townhouse or style 32. There are 81 of these Green Lake residential homes in this same Active category of houses for sale that are not townhomes. Looking at 2008 Pending numbers, 8 are townhouses and 13 are other residential Green Lake homes. Closed sales in 2008 only for townhomes are 15 and 35 Green Lake residential properties that are not townhomes have been sold. Clearly other residential in Green Lake is moving faster than townhomes in 2008.
The Median price for a townhouse in Green Lake? $461,450 from the active inventory if you are in the market, but definitely look to negotiate because with the average days on market creeping over 62 days and the median sales price for closed townhouses at $366,000, there is room for some bargaining to live in this wonderful Seattle neighborhood! The days on market for other residential properties in Green Lake are at 76 days with a median active price of $599,973 and a median closed sales transaction price of $507,500 so far for 2008. Bargaining can be beneficial to a Green Lake buyer in either case, but a townhouse might be easier financially to get into.