Bellevue condominiumBellevue Real Estatebuying a homeDowntown Bellevuehousing marketliving downtownreal estateurban living February 14, 2024

1200 Bellevue Way/Downtown Bellevue – New on the Market

1200 Bellevue Way, a community of 49 attached homes, has a sought after location blocks from downtown Bellevue’s business district, celebrated shopping and dining and countless arts and entertainment venues. Homes have traditional brick architecture but inside you’ll find a contemporary layout with spacious open concept design.

The home’s main level provides ample living and dining space plus a well equipped kitchen. An oversize island provides additional seating space. The main level opens to a  large patio courtyard adding plenty of outdoor living/dining space. A floating  staircase leads to the second level where there’s a generous bedroom with a walk-in closet, full bath and open mezzanine loft, perfect for an office or additional living space. The primary suite, with a large sitting area, occupies the entire third floor. The spa inspired primary bath has a large soaking tub, glass enclosed shower, long vanity with glass vessel sinks and a large walk-in closet provides ample wardrobe storage.

The community is sited over a secure common garage. The home has two parking spaces (tandem) and two generous storage rooms. There are 12 dedicated guest parking spaces in the garage.

 

  • 2 bedrooms + mezzanine loft
  • 2.5 baths
  • 1,990 SF
  • 2 car parking in secure garage
  • built 2007
  • Price:  $1,775,000
  • Monthly HOD:  $620

View the virtual tour . . .

https://tours.dennonvisuals.co/2211481

BellevueEast Link Light Raillifestylelight railliving downtowntransportationurban living January 31, 2024

Here Come the Trains

flickr/Zack Heistand

If you’ve been out-and-about between downtown Bellevue and Redmond in recent weeks you’ve likely seen light rail trains on daily practice runs. On two occasions this week I’ve stopped at crossings to let trains pass.

Trains will start running on regular schedules with passengers this spring connecting the South Bellevue station and Redmond Technology station. In the next year or so the “2 Line” will connect Redmond and Bellevue to Mercer Island and Seattle.

After years of construction it is exciting to see trains running on tracks along roadways and overpasses. Drivers and pedestrians will need to be aware of train crossings, so keep in mind:

–trains run in both directions, so always look both ways before crossing
–when driving, stay alert and observe crossing markers, lights and traffic arms
–when walking, stay alert, especially if wearing headphones or focusing on a tech screen
–use designated crosswalks and pay attention to crossing signals
–bike riders remember to cross tracks at a 90 degree angle to prevent getting stuck

It’s been a long time coming, but light rail is going to bring an efficient and exciting new way to commute to the eastside.

Buyer Broker Services Agreementsbuying a homecondominium speciaisthousing marketreal estateWindermere Real Estate January 11, 2024

What are Buyer Broker Services Agreements?

Real estate, and the laws surrounding it, is constantly changing. Beginning January 1st of this year, the State of Washington now requires that home buyers sign a Buyer Broker Services Agreement when working with a licensed broker in their search for a home.

While it sounds like a big change, Buyer Broker Services Agreements have been in use for some time; the main difference is that now they are legally mandated. Like seller agreements (the listing contract), which have long been required, the buyer agreement provides important protections for all parties involved in a real estate transaction.

Buyer Broker Services Agreements carry many benefits. They protect you from conflicts of interest, require your broker to follow specific professional guidelines and provides transparency about your broker’s legal duties and compensation. All of this adds up to enhanced clarity up front when working with a broker to purchase a home. Windermere has always encouraged the use of buyer agency agreements and now they’ll be the norm for all real estate companies and licensed brokers statewide.

If you have questions about this change, the real estate market in your community, or other real estate topics, don’t hesitate to contact me.

buying a homeeconomyinterest ratesreal estateRobin Myers/Condo Specialistselling a homeWindermere Real Estate December 7, 2023

2024 Housing Market Predictions

Matthew Gardner, Windermere’s Chief Economist, provides his annual insight and predictions for the coming year’s local and national real estate market. Matthew reviews his 2023 predictions and provides his outlook for 2024.

Matthew’s monthly market updates are always informative, but the annual recap and predictions for the coming year is always my favorite.

 

Bellevue condominiumBellevue Urban LivingDowntown Bellevueliving downtownurban living November 28, 2023

BELLEVUE TOWERS – love where you live

Recently available, this SE corner residence offers the perfect urban lifestyle. Live just blocks from Bellevue’s business district, shopping and dining, arts and entertainment venues, parks and light rail stations.

The generous floor plan has quality finishes throughout with an open concept design that provides plenty of space for living, dining, entertaining or working from home. A well equipped kitchen with ample work and storage space is sure to please any level chef. The primary bedroom opens to a luxury bath and large customized closet and a second bedroom and full bath serve family or guest needs.

 

Owner amenities include a secure lobby entry with full time concierge plus multiple indoor and outdoor amenities. Take advantage of the private urban park with fireplace, lounging and dining areas, rooftop terraces, multi-level indoor lounge, fitness studios, whirlpool, sauna and steam rooms, private dining room, screening/media room and guest suites. Four legged family members will appreciate the dedicated dog relief/play area.

https://tours.dennonvisuals.co/2186836

 

2 bedrooms + study/1.75 baths
1,575 square feet
secure garage parking + storage
$1,500,000

 

For additional information . . .

Robin Myers
425/417-8137   robinmyers@windermere.com

 

BellevueDowntown Bellevueurban livingVisit Bellevue Washington August 17, 2023

Have You Tried Bellhop?

Bellhop is a new alternative to driving and paid ride share programs. Bellhop, which started August 1st, is a pilot program running through the end of the year. Visit Bellevue Washington, in partnership with Circuit, is offering a free, all- electric shuttle serving the downtown Bellevue area.

The on-demand electric shuttle supports Bellevue’s commitment to sustainability and hopes to fulfill the need for a quick ride for around-town trips. The hope is this service will replace short car rides which account for nearly a third of daily car trips. Bellhop could reduce over 100 metric tons of CO2 emissions annually.

How does it work?
Download the Circuit app, schedule a ride and the driver will confirm when they’re on their way. It’s a free ride anywhere within the service area.  Four-legged family members are welcome as long as they sit on a lap or on the floor directly next to their person.

For more information visit Visit Bellevue Washington at https://www.visitbellevuewa.com

 

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 homecondo financingcondominium speciaisthome financinghome loansmortgage interest ratesRobin Myers/Condo Specialist April 27, 2023

Mortgage Interest Rate Buydowns

flickr.com/mikelawrence

If you’re thinking about buying a home, the good news is mortgage interest rates continue to decline. Rates are in the low 6% range compared to over 7% a few months ago. There are ways to lower the mortgage interest rate even more with a temporary or permanent mortgage buydown, but there are pros and cons.

A mortgage rate buydown allows a buyer to secure a lower interest rate on a mortgage by paying more money up front in the form of discount points. Each “point” is equal to one percent of the total loan amount. This can be beneficial when mortgage rates are high.

Permanent or Temporary Buydown?
With a permanent interest rate buydown, the interest rate is reduced for the life of the loan, but there are generally heftier up front costs. With a temporary interest rate buydown, a borrower can get a temporary discounted interest rate and ease into the permanent mortgage interest rate.

1-0 buydown mortgage – a 1% discounted interest rate for the first year
2-0 buydown mortgage – a discounted interest rate for the first two years of the loan. The first year the interest rate is 2% lower, decreasing to 1% the second year.
3-2-1 buydown mortgage – a 3% discounted rate the first year, 2% in the second year and 1% the third year.

With a temporary mortgage buydown the borrower must qualify for the mortgage at the higher interest rate even though initially paying a lower rate.

Does it pay to permanently buy down a mortgage? Mortgage payments will be more affordable for the life of the mortgage, but there are higher up front costs. If you plan to stay in the home for a long period of time, this could be a wise financial decision, but if you plan to move in a few years you may not break even given the up front costs.

Talk with your lender or mortgage broker for information about current interest rates, loan programs, mortgage buydowns and calculations to see which scenario is the best for your financial situation and future plans.

 

condominiumcondominium speciaistdownsizinglifestyleright-sizingRobin Myers/Condo Specialistselling a homeWindermere Real Estate April 13, 2023

Don’t Just Downsize . . . Right-size

flickr/alden jewell

 

Many sellers in today’s market, myself included, are getting ready to not only move but also downsize their lifestyle, fitting their new home to fit future needs. Downsizing, or right-sizing, means more than just “getting rid of “stuff” and finding a smaller home. It’s important to consider how you live now, how you want to live in your new home, what is important, what you need and what you can do without.

 

This should be a simple task, but too often downsizing doesn’t focus on the things that are really important. If you love to garden, need space for a pet or enjoy hosting impromptu dinners and holiday gatherings, select a home that provides enough space for how you want to live or you may find it frustrating to have to eliminate activities or traditions that are important to you. When searching for a new home don’t just look at the square footage – keep in mind how you will live in and use the space day-to-day now and in the future.

It’s safe to assume much of the furniture in your current home won’t fit into a smaller house or condo. The reality is that very few of your existing furniture pieces will make the move with you. You’ve heard the phrase “measure twice and cut once”. The same is true for furniture. Measure pieces you might want to move or purchase and then measure the doorways at your new home (twice) and don’t forget elevators, hallways and stairwells. The stress on moving day doesn’t need to include discovering the buffet won’t fit through the door.

If you think you ‘ve had enough garage sales or trips to deliver donations, think again. Don’t try to fill your new  space with too much sentimental artwork or decor. Select a few statement or heirloom pieces and use them as the foundation to build the decor in your new home. Too much “stuff” will make a space look smaller.

When it comes to closets and clothing, think again about what you keep and what you could donate. We’ve all heard that saying that if you haven’t worn something in two seasons, let it go. Are you relocating to a different climate? A more casual lifestyle? You may not need heavy coats, as many shorts and flip-flops or blazers and dresses.

Moving and downsizing takes time, effort, focus and patience. It can be stressful, but can also be a positive experience. The next chapter of your life should be exciting and something you look forward to. After you’re settled in your new home, if you find you parted with something that you wish you’d kept, it can be replaced and maybe it will be the right size, color or style that is a better fit for your space. Embrace the change. Invite family and friends into your new home and start making new memories and traditions.

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.