Bellevue condominiumcondominium speciaistcondominiumsDowntown Bellevuereal estateRobin Myers/Condo Specialist May 11, 2023

Downtown Bellevue First Quarter Condo Market Statistics

2023 had a bumpy start. There’s been a lot drama and speculation regarding interest rates, the stock market, investments, employment, etc. While the eastside hasn’t been immune to these issues, the downtown Bellevue condo market has looked like a fairly normal spring market. Sales prices are gradually increasing, the difference between list price and sale price is narrowing and the days-on-market continues to decline.

 

DOWNTOWN BELLEVUE CONDO MARKET STATISTICS  –  2023 YEAR-TO-DATE

1st Quarter 2023
total condos sold in 1st quarter     25
average sale price                            $913,398
average days on market                 66
% of sale price vs. list price           97.7%

April 2023 sales
total condos sold in month          17
average sale price                          $970,382
average days on market               42
% of sale price vs. list price         99.35%

Current Pending Sales
total condo pending sales           14
average list price                          $1,186,986
average days on market              40

There are 42 condos actively listed for sale in downtown Bellevue with an average list price of $1,820,196. This includes several new construction pre-sale units that won’t be available for occupancy in the 3rd or 4th quarter of 2023. Removing the pre-sale units, there are just 28 homes available for occupancy within 30 days of closing escrow.

buying a homecondominium speciaistcondominiumsfirst time buyersreal estaterentalsRobin Myers/Condo Specialist March 7, 2023

Rent vs. Buy – What Best Fits Your Current Lifestyle? Copy

There are definite advantages to owning a home, as a vehicle for building wealth and the security of owning a safe place to call home. Matthew Gardner, Windermere Real Estate’s Chief Economist, speaks to the advantages of owning a home in this short video. While most of us can agree with all the points in Matthew’s video, the reality is that sometimes life happens and it might be wiser to make a temporary decision to rent before you explore buying a home. Lifestyles change, relationships change, jobs change . . . wherever you are in life, if you need information about condos, townhomes or houses for sale, or if home ownership is a year or two away, I have resources for lenders, market data, movers, contractors, property managers and rental properties to help you with whatever you need.

 

 

condominiumsDowntown Bellevueeconomyhome property valueshousing marketreal estateRobin Myers/Condo SpecialistWindermere February 22, 2023

What’s the Expected Local Impact of Recent Tech Industry Layoffs?

There’s been a lot of media coverage in the last six weeks relating to local and national tech industry layoffs. The Pacific Northwest has a significant tech industry presence, not just all the major players but also many smaller but successful start-ups What impact can we expect in the Seattle and Eastside economy and housing market as a result of these layoffs?

Matthew Gardner, Windermere’s Chief Economist, doesn’t anticipate significant change as we move through 2023. Take a look at his thoughts on the local economy and housing market.

 

 

 

 

buying a homecondominium speciaistcondominiumsreal estateRobin Myers/Condo Specialist September 14, 2022

Juanita – New on the Market

VILLA JUANITA – a spacious, open concept home designed with comfort and style

No detail was overlooked in this spacious one bedroom condo. Quality  finishes and fixtures throughout (Restoration Hardware lighting, custom window treatments, freshly painted, newer carpet and stainless appliance package) make this a comfortable home for day-to-day or entertaining. The kitchen will please any level chef offering ample work & storage space as well as a bistro bar for morning coffee or an inviting gathering place for guests. Generous sized bedroom suite has two large closets and opens to the recently updated bath. Vaulted ceilings throughout and large scale windows add light and volume to this comfortable home. There’s a private, secure garage plus ample surface parking for guests. Offered at $447,500

14335 Simonds Road NE #A-202
Kirkland, WA

condo resale disclosurescondominium speciaistcondominiumselectric vehicle charging stationsEV charging stations June 15, 2022

Revision to Condominium Resale Certificates Relating to EV Charging Stations

courtesy flickr/Ivan Radic

The WA State Legislature recently approved a revision to the Condominium Resale Certificate. House Bill 1793, passed by both the House and Senate, was effective June 9, 2022.

A new section has been added to the Condominium Resale Certificate relating to electric vehicle charging stations. Whether located in the unit or the limited common elements assigned to a unit, an association manager (or HOA of self-managed) is now required to complete the updated document to disclose information relating to application requirements for EV charging stations, the status of any application in process, insurance information and/or requirements, maintenance responsibilities, associated costs including any utility allocations to a unit or owner and other requirements related to proper approval of and installation of an EV charging station. With the popularity of electric vehicles on the rise, HOA rules and regulations will soon need to be updated to include the approval process and requirements for installing EV charging stations.

The updated form must be used for all condominium or common interest community purchase transactions with mutual acceptance on or after June 9th. If a resale certificate was previously ordered (for example, when the home was listed for sale), the resale certificate will need to be updated and available to a seller for review and approval.

buying a homecondominiumseconomyreal estateselling a home November 17, 2021

Housing and the Economy – What to Expect in 2022

In the last housing and economic forecast for 2021, Matthew Gardner, Windermere’s Chief Economist, looks ahead and shares his economic and housing forecast for 2022.

buying a homecondominiumseconomyfirst time buyershome property valuesinterest ratesreal estateselling a homeworking from home February 8, 2021

2021 Housing and Economic Update

Every year Matthew Gardner, Windermere’s Chief Economic, provides his forecast for the coming year. As always, he includes a variety of topics that relate to the national economy, housing trends, mortgage interest rates and home price appreciation. This year he also addresses the impact the 2020 pandemic had on the economy and housing and what we may expect to see in 2021. It will be fun revisit this in 6-12 months and see how Matthew’s thoughts compare with what happens as we move through the year.

 

buying a homecondominium speciaistcondominiumsfirst time buyersreal estateRobin MyersWindermere October 26, 2020

New Construction, Existing Home Sales, Condos & Vacation/Resort Homes

Tight supply and increasing land/material/labor continue to contribute to rising home prices.

Matthew Gardner, Chief Economist for Windermere Real Estate, shares his thoughts on builder confidence nationwide, evidenced by a dramatic increase in sales of new construction homes and permit applications.  That continued buyer demand along with increasing construction costs are driving prices up. Sales of existing single family homes is also increasing, but even tighter supply is impacting prices in that market as well. Condo sales are up 9% nationwide (year-over-year) but there is a higher level of available condo inventory. That could be the result of condo owners taking advantage of low interest rates to make the move up to a larger home. The good news, that could free up condo inventory for first time or downsizing buyers. A surprise observation – sales of vacation and resort homes are up 30% nationwide.

 

 

 

 

emergency planningfamilyRobin Myerssafetyurban livingWindermere September 11, 2020

Include Your Pet in Your Family’s Emergency Plan

dog-and-cat

photo of dog and cat

Brush and forest fires aren’t often a concern in the city. This week suburban, farm and agricultural communities in Bonney Lake and Sumner were caught off guard by a fast spreading fire that has caused evacuations, property damage and danger to people, farm animals and wildlife. If you live in a suburban community or a high rise city condo, you need a pet emergency evacuation plan.

You may already have an earthquake kit or an emergency “go-bag” with flashlights, water, food, etc. Maybe you’ve practiced a family evacuation plan. Whether you live in a high rise condo, a suburban single family community or rural farm . . . have you included your pets in your family’s emergency plan?

Your pet needs it’s own emergency “go-bag” with supplies (and medications) for 3-5 days. It should include food, bowls, treats, extra harness, collar and leash, plenty of water, doggy poop bags or kitty litter, vet contact and Rx information, a towel or blanket to warm or comfort a pet or provide a resting spot. If you evacuate by car, a crate is great to have to keep your pet safe, calm and confined while traveling. If you have no choice but to leave a pet behind, put pet alert signage in a window with the number/type of pet and your contact information so emergency personnel know to search for your pet and how to contact you.

We always think the worst won’t happen, but so far 2020 has shown us that a lot can happen that we haven’t planned for. For more information, human and pet emergency safety tips visit www.redcross.org.

 

 

condominium speciaistcondominiumslifestyleurban livingWindermere Real Estate July 15, 2020

Ideas for Creating Deck or Courtyard Privacy

courtesy HGTV

With summer weather finally here we’re all spending more time outdoors, but with the confines created by the COVID-19 pandemic, we’re spending a lot more time outdoors at home. Whether you live in an urban high rise or townhouse, creating privacy on your deck, patio or courtyard can be challenging.

 

HGTV has provided some interesting and affordable options available for adding a privacy screen to your deck. If you’re creative, there’s a lot of inspiration here for designing a customized screen to fit your space and decor.

 

https://www.hgtv.com/outdoors/outdoor-spaces/best-outdoor-privacy-screens