Kirkland Highlands Real Estate Buzz

 What to do for dinner at the last minute on a Friday night?  My husband checked on Opentable and we booked a reservation online for Trellis, at the new Heathman Hotel for 6 PM that evening.  We joined a friend for our “first supper” at Trellis.

When we first arrived, it was actually a little quiet, although the bar was hopping. 

 By the time we finished our meal, the whole place was hopping.  The ambiance is quintessential Northwest.  It’s simple elegance with lots of wood, very trending lighting, and big windows.   I think the style fits the Kirkland aesthetic.

Trellis is Brian Scheehser’s first stint as an executive chef. The ingredients were really fresh as the herbs and veggies come from the chef’s own garden.  The service was excellent, very attentive, smooth, and fast. The food was delicious.  I had the seafood stew and the heirloom tomato salad.  My husband had the beet salad and the duck and my friend had the chicken. All the dishes were enjoyable and beautifully presented, but not memorable.  Would I go back? Most definitely, but I’d give Trellis a B+ overall.   (It’s that old teacher in me, I have to give it a grade.)

Thanks to Karen Story and her volunteer crew who changed out the posts along 112th Ave NE.  The posts are now white rather than a screaming orange color.

Numbers in red reflect last week’s totals.

New listings:  8(2) 

Active Listings:   30(27)

Sold subject to inspection:  2(0)

Pending:  1(1)

Closed Sales:  0 (0)

Number of Price Reductions:  1 (1)

Cancelled listings 1(0)
———————————–
Number of homes available:    30(27)

0-$349,999:   0(0)

$350,000-$499,999:   3(4)

$500,000-$749,999:    6(9)

$750,000-$999,999:   13(7)

$1,000,000- $1,499,999:   5(3)

$1,500,000- $2,999,999:   3(4)
———————————–
Average Price: $924,079 ($849,534)
Median Price:   $851,025 ($749,950)

Average Days on Market: 58(70)

Highest Priced Listing: $1,825,000 (same)

Lowest Priced Listing: $460,000($460,000)

(data from NWMLS)

My analysis of this week’s real estate buzz:

The high number of new listings is reflected by a new construction neighborhood going online with several new listings at once.  These homes are in a new neighborhood  found at the east end of NE 95th St.  The homes in this neighborhood are built by Steve Jensen homes and range in price from the mid 800’s to just over $900,000. The homes range in size from 3200 to almost 3600 square feet.

Two homes received offers this past week.  One of the homes had been on the market for a 104 days and the other home was listed for 139 days. Another listing was cancelled and is now off the market.  The price point for the first sale was right under $500,000 and the other sale was priced in the low $500’s.

Because the new construction listings are priced over $850,000,  the average price range went up by quite a bit.  In addition, when 8 new listings come on the market at like this,  the average market time decreases, reflecting all these new listings that have only been marketed for a few days.

In the town home category, the best priced home is actually a free standing home and is priced at $435,000.  Two other town homes reduced their prices this past week.  One town home dropped the price from $458,000 down to $445,000.  The other, a newer duplex style home, was priced in the mid $700’s and was reduced to just below $700,000.

 Happy Halloween!

 Do you know someone who is elderly and needs to change their living situation?  Do you have parents who need assistance?  So many of us are dealing with elderly parents these days.  Finding appropriate help, a new place for your parents to call home, managing health care, it’s mind boggling. 

I moved my parents out here to Kirkland from the east coast a few years ago.  It was a pretty scary time, trying to find the right place for them to call home.  Fortunately, I knew someone who could help me.  A client of mine provided some support and made some recommendations that made it easier to make the right choices.  My client is a member of The Kirkland Senior Council and invited me to volunteer. I thought it would be a great opportunity to get involved in the community. 

You do not need to be a senior citizen.  In fact, the council charter requires there to be some members who are younger than 50.  So all you generation X’ers and Y’ers come on down! The council is dedicated to improving the quality of life for seniors in Kirkland.  Below is the press release from Marie Stake and the City of Kirkland:

_____________________________________________________________-

Kirkland Senior Council Seeks Members
Membership Applications Due October 31

Kirkland, WA -  Membership applications for the Kirkland Senior Council (KSC) are being accepted through October 31 for interested adults who live, work or serve adults age 50 and over in Kirkland.  The KSC is an advisory board that makes recommendations to the City Council on matters affecting Kirkland adults ages 50+. The KSC educates, promotes and encourages the advocacy of issues that have a positive impact on the health, safety and well being of older adults in the community.  Interested candidates must be available for monthly evening meetings and to serve a three-year term.  Community service applications are available online at www.ci.kirkland.wa.us, at City Hall and the City’s two community centers.  Applications are due to the Parks & Community Services Department by October 31.  Interviews will be held November 8.

KSC meetings are held on the second Tuesday of each month at 5:30 p.m. at the Peter Kirk Community Center, 352 Kirkland Avenue.  For more information, go to www.ci.kirkland.wa.us (search KSC), email ksrcouncil@ci.kirkland.wa.us or call Dana
La Rue, Parks and Community Services Department at 425-587-3361.

Numbers in red reflect last week’s totals.

New listings:  2(4) 

Active Listings:  27 (24)

Sold subject to inspection:  0(1)

Pending:  1(1)

Closed Sales:  0 (1)

Number of Price Reductions:  1 (3)
———————————–
Number of homes available:    27(24)

0-$349,999:   0(0)

$350,000-$499,999:   4(5)

$500,000-$749,999:    9(6)

$750,000-$999,999:   7(7)

$1,000,000- $1,499,999:   3(3)

$1,500,000- $2,999,999:   4(4)
———————————–
Average Price: $849,534 ($869,071)
Median Price:   $749,950 ($769,000)

Average Days on Market: 70(67)

Highest Priced Listing: $1,825,000 (same)

Lowest Priced Listing: $460,000($435,000)

(data from NWMLS)

My analysis of this week’s real estate buzz:

Three more listings found!  Again, two of the listings were not input into the MLS by the Highlands neighborhood name, but just listed in  Kirkland, with no specific neighborhood mentioned.  One listing has the address incorrect as NE is not written in the address in the right place.  With that simple mistake, it appears the home is located in Juanita, when it actually is in the Highlands.   From time to time, I will double check other listings to make sure there are no more missing listings! 

 It’s helpful when agents list homes and include the specific neighborhood.  If someone is looking for a specific neighborhood, and the name of this neighborhood is not included in the listing, then buyers and agents may initially miss the listing.

The true new listing this week is priced at $1,150,000.  One new listing is a re-listed property with a price drop of $100,000. This listing, a land buy, is now priced at $725,000.  Another home with a reduced price of $775,000 came on the market just a few weeks ago at $839,000.  The “sold subject to inspection” listing from last week is now pending and heading towards closing.  Market time is beginning to increase,  from 67 days to 70 days to sell.   The change in market time is also affected by the addition of these other listings that “had gone missing.”

The Highlands is a neighborhood of mostly single family homes.  There are a few PUDs, Planned Unit Developments, such as Forbes Creek,  and a few condominium complexes.  Generally, I have not included them in my statistics.  However, I will mention the condo activity from time to time in my weekly buzz reports.

There are 3 town homes listed in the mid 400’s, with the least expensive being $435,000.  Kirkland Highpointe has 4 town homes on the market priced from $628,000 to 644,000. The most expensive town home listing is for a duplex priced in the mid 700’s.

The winds are back and are you ready?

So you think the police and fire will help?  Sure, if they can, but remember, they will be handling the really big crises and you may be on your own for several days.

 Here is your opportunity to be prepared to handle an emergency or disaster.  Don’t wait until it is too late.  Be ready.

Nancy Smersh, who is a member of The Greater Kirkland Citizen Corps, and works for the city, is sponsoring two classes to introduce Kirkland residents to the “MYN” program, Mapping Your Neighborhood.    

Below is Nancy’s memo advertising the next set of “MYN” classes.  I’ve been to the class.  How about someone else signing up to be the neighborhood captain for their part of The Highlands? 
 We can work on this together! 

________________________________________________________

     “MYN” - Map Your Neighborhood

            Preparing Neighborhoods

           to Care for Each Other When Disaster Strikes

The reality is - neighborhoods may need to respond to fire, injuries, and leaking natural gas during and after a disaster. This meeting will help you know what to do.

What is a disaster? Disasters, by definition, are events that overwhelm police, fire, and medical 911 emergency responders.

Why MYN? MYN helps us organize a timely response to disaster when 911 is unavailable.  All of us, working together, can reduce the serious consequences of
disaster in our neighborhood.

Why Prepare? Neighborhoods that are prepared for emergencies and disaster situations save lives, reduce the severity of injuries and trauma, and reduce property damage.  In addition, working together as a team and contributing as an individual develops stronger communities and improves the quality of life in the community.

Learn:     The 9 Steps to Take Immediately Following a Disaster

Develop:  a Neighborhood Skills and Equipment Inventory

Map your neighborhood:  identify areas of concern such
as gas meters

 Verify: which neighbors need extra help in a disaster such as the elderly, those
with a disability, or children who may be home alone.

November 8th (Thursday) Noon-1:00 or 7-8 PM

Location: Kirkland City Hall - Peter Kirk Room (around back by police dept)

 123 5th Ave

 Kirkland 98033

Sponsored by the Greater Kirkland Citizen Corps Council (GKCCC )www.kirklandcitizencorps.org

Register online at http://www.kirklandcitizencorps.org/MYN/signup.asp

Questions or to receive notification of future sessions:

Contact: Nancy Smersh

425-587-3663

NSmersh@ci.kirkland.wa.us

Sellers had a 9.4 % chance of selling a home in Kirkland in September, 2007.

(See the chart above to show the last four year’s activity.  The chart shows numbers for all of Kirkland, south of NE 116th St)

September 2007   424 homes for sale,  40 sales,  9.4% chance of selling. 

August 2007          386 homes for sale,  55 sales, 14% chance of selling.

September 2006   373 homes for sale,  53 sales,  14% % chance of selling.

 We now have the highest number of homes for sale in Kirkland so far this year.  There are 9% more homes available this month than last month. Inventory has been gradually creeping up all year, but then took a big jump this past month.  With this increase in inventory and the slight drop in sales, the chances of selling this month declined by 4.5%. 

Yes, it is harder to sell right now, but homes are still selling.  Forty homes in Kirkland did sell last month. The homes that do sell are priced ahead of the curve and show beautifully.  Sellers will need to get ahead of the competition to be the home that gets the offer and sells. 

It will be interesting to see if some homes go off the market as we head towards the end of the year. I believe we will also see less homes come on the market as we approach the end of the year. 

 Happy Halloween!

Numbers in red reflect last week’s totals.

New listings: 4 (2) one new listing is actually a home that has been re-listed

Active Listings:    24(21)

Sold subject to inspection:  1(1)

Pending:  1(0)

Closed Sales:  1 (0) Original price-$979,000, sales price-$880,000

Number of Price Reductions:  3(1)
———————————–
Number of homes available:    24(22)

0-$349,999:   0(0)

$350,000-$499,999:   5(4)

$500,000-$749,999:    6(6)

$750,000-$999,999:   7(5)

$1,000,000- $1,499,999:   4(4)

$1,500,000- $2,999,999:   2(2)
———————————–
Average Price: $869,071 ($880,035)
Median Price:   $769,000 ($750,000)

Average Days on Market: 67 (68)

Highest Priced Listing: $1,825,000 (same)

Lowest Priced Listing: $435,000($435,000)

(data from NWMLS)

My analysis of this week’s real estate buzz:

 Another sale!  The home that received an offer was the least expensive in the neighborhood priced at $435,000.  It’s a 3 bedroom, one bath rambler located on the same block as the Extreme Makeover House. 

 I listed a town home today at the same price, $435,000, so this new listing is the best priced home in The Highlands.  Another new listing this week is priced at $440,000 and is a town home in Forbes Creek.  Other new listings were in the high $700’s and the low $800’s.  One contemporary home located off 112th  came back on the market after a $30,000 price reduction.  The other price reductions ranged from $20-40,000.

 Market time continues to hover around two months, which truly is more of an average market time in most parts of the world! 

The market will be more realistic through the end of the year, but after the first of the year, watch out.  I think the market will be moving along just fine.  Now is a great buying opportunity.

Numbers in red reflect last week’s totals.

New listings: 2 (2)

Active Listings:    21(22)

Sold subject to inspection:  1(0)

Pending:  0(0)

Closed Sales:  0 (2)

Number of Price Reductions:  1(1)
———————————–
Number of homes available:    21(22)

0-$349,999:   0(0)

$350,000-$499,999:   4(7)

$500,000-$749,999:    6(6)

$750,000-$999,999:   5(4)

$1,000,000- $1,499,999:   4(3)

$1,500,000- $2,999,999:   2(2)
———————————–
Average Price: $880,035 ($676,483)
Median Price:   $750,000 ($587,495)

Average Days on Market: 68 (66)

Highest Priced Listing: $1,825,000 (same)

Lowest Priced Listing: $435,000($399,950)

(data from NWMLS)

My analysis of this week’s real estate buzz:

 We have a sale!  The home that received an offer had originally been listed for $509,950, but ultimately was relisted as a new listing with a price of $479,950.  It received an offer at this new price.  The home for sale in the same cul-de-sac has this week’s reduced price with  a drop of $25,000 from $499,950 to $475,000. The new listings that came on the market were priced in the low 800’s and about $1,5 million.  The listing priced at $399,950, which represented lot value, is no longer on the market.

The median and average prices for the neighborhood are higher this week because the prices for homes not listed in the MLS as being in The Highlands, but are really located in The Highlands, have been factored into the numbers. These numbers are more accurate for the neighborhood than the numbers listed in previous weeks.

The neighborhood has done a great job with the  excitement of “Extreme Makeover” happening in the Highlands. 

I think our area is one of the best in the country for real estate, as I have stated in many of my comments on The Seattle PI Real Estate Professionals blog.  There was also a great article in Forbes magazine supporting Seattle as a bright spot for real estate in the country.  If we look at the above numbers, 2 months as an average market time is not that big of a deal.  It only seems to be a long time because homes sold so quickly in the past.  The market here is simply a more realistic market.

Sheryl Vincent sent me these great photos she took of The Extreme Makeover project from start to finish. She did a great job.  Thanks, Sheryl!

For other photos and articles you can go online to Extreme Makeover.