Debra Sinick

Archive for June, 2009|Monthly archive page

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What Were The Chances of Selling Your Kirkland Home in May, 2009?

In Kirkland News, Kirkland WA, Kirkland, WA Real Estate, Real estate on June 10, 2009 at 2:31 pm

Kirkland Home Sales, May 2009

Kirkland Home Sales, May 2009

May, 2009                348 homes for sale,       42 homes sold,   12% chance of selling

April  2009          331 homes for sale       28 homes sold,     8% chance of selling a home.

May, 2008            411  homes for sale,      33 homes sold,    8% chance of selling a home.


(The chart above shows the real estate activity for Kirkland single family homes from March, 2008 through May, 2009.  There’s a slight difference in the actual numbers between the Trendgraphix chart above and the MLS statistics I receive from Windermere Real Estate, but the trends are the same in each chart.  Actual numbers may vary slightly, depending on when the data is retrieved.)

There was a 12% chance of selling a home in Kirkland in May, 2009.  If you click on the link, you’ll see the MLS charts I’ve been using in the past. The charts will also show the median price range and  the trends for the past five years.

The chances of selling is another way to characterize the “absorption rate” in which we take the number of homes sold in a particular month and divide it by the number of homes on the market. This number tells us what the odds are that a home will sell.  In May there was a 12% chance of selling a home in Kirkland.  This means out of 100 homes, 12 homes received and accepted offers.

The odds of selling a home are getting better in Kirkland! The number of homes for sale has increased slightly over the last few months, however, the odds of selling a home in Kirkland have increased dramatically from the first of the year.  Kirkland still has a ways to go, but things are beginning to look more positive for  Kirkland home sellers.

For the complete picture of home sales on Seattle’s eastside, check out my eastside blog post.


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What Was Last Week’s Hot Price Range For Home Sales In Kirkland?

In Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers, Weekly market update on June 8, 2009 at 8:41 pm
Residential Area 560 - 06-03-09betterKirkland Home Sales Activity, Week of June 3rd, 2009

What was the hottest price range of the week in Kirkland, south of NE 116th?

This chart is updated weekly by (Windermere Real Estate/East, Inc., using MLS data) to show the price ranges of the homes sold each week.

Here’s how it’s set up:

The colors show who has the advantage in a particular price range. 

  • Green means the buyer has the advantage with many homes to choose from and not that many selling.
  • Yellow means the number of homes for sale and the number of sales in the price range is balanced between the buyer and the seller.
  • Red indicates a sellers’ market where the seller may have the advantage as more homes are selling when compared to what’s available.

Down the side of the chart, the home sales activity is broken down into a price bracket of $99,999. All the homes priced between $400,000-499,999, as an example, are put together in one price category in the chart.

Across the top, the chart is broken down into real estate activity by the week.

If you take the $400-499,999 line and follow it across the chart, you’ll see what has happened each of the last seven weeks.  There are three columns under each week. On the left side of the column is the number of homes for sale in Kirkland.  The middle column shows how many homes sold that week, and the final column under the date shows the months supply of homes for sale.  In other words, if no other homes came up for sale, it would take an average of 5 months to sell all the homes in the $400-499,999 price range.

The last section shows the 7 week average of each category, the number of homes for sale, the number sold, and the months supply.

The color yellow, which stands for a balanced market between buyers and sellers,  has been few and far between on these charts.  It’s been a very long time since we’ve seen a balanced real estate market anywhere. Most columns have been green, marked with a buyers’ advantage, for a very long time. It’s been an even longer time since we’ve seen so much read, a buyer’s market, too.

Week of June 3rd, 2009:

Hottest price range for the week: $900-999,999.

  • Most number of home sales $900-999,999, 2 homes sold
  • Most number of homes for sale $1,000,000-1,499,999  83 homes for sale.

Week of May 27th, 2009

Hottest price range for the week.: $400-499,999

  • Most number of home sales:  $400-499,999  5 homes sold. 
  • Most number of homes for sale:  $1,00,000-1,499,999 82 homes for sale.

Week of May 20th, 2009

Hottest price range of the week: $500-599,950

  • Most number of home sales:  $500-599,999  3 homes sold.
  • Most number of homes for sale: $1,000,000-1,499,999  85 homes for sale.

When you review this chart, it’s clear how much of a buyer’s market exists above the $1million range.  There are a large number of homes for sale in Kirkland in this price range, which translates to a strong buyer’s advantage.

There have been some weeks when a particular price range  bumped into the seller’s advantage, but overall, the buyers are still in control.

It will be interesting to see what develops over the next few weeks as I’m seeing more homes come up for sale in Kirkland.  I expect it to continue to be very competitive with most of the home sales falling below $500,000. What do you predict?

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Weekly Real Estate Buzz in The Kirkland Highlands Through June 4th, 2009

In buyers, Kirkland News, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers, Weekly market update on June 5, 2009 at 6:25 pm

The real estate statistics below reflect the real estate activity in The Kirkland Highlands for the past week and all data is taken from the NWMLS through Thursday morning each week.  (Wednesday this week!)


View Larger MapThe map shows most of the outline of Kirkland’s Highlands neighborhood. The map address is simply for a street corner in the middle of the Kirkland Highlands. For those not familiar with the neighborhood, it’s a pocket of unique homes close to downtown Kirkland. In some ways it feels like an island, because it’s separated on the east by 405, the south by Central Way (the main route to downtown) and the west and north by the BNSF railroad tracks. The neighborhood has the best of both worlds, a little isolation without any through traffic, but just seconds from everything.

The map shows most of the outline of Kirkland’s Highlands neighborhood. The map address is simply for a street corner in the middle of the Kirkland Highlands. For those not familiar with the neighborhood, it’s a pocket of unique homes close to downtown Kirkland. In some ways it feels like an island, because it’s separated on the east by 405, the south by Central Way (the main route to downtown) and the west and north by the BNSF railroad tracks. The neighborhood has the best of both worlds, a little isolation without any through traffic, but just seconds from everything.

Active Listings: 31 (32)

New listings: 0 (2)

Re-listed properties:  1 (1)

Pending inspection: 1 (0)

Pending: 0 (0)

Closed Sales: 1 (0)

Contingent sale: 0 (0)

Number of Price Reductions:  3       (1)

Canceled listings 0 (1)

Expired Listings: 1 (0)

Temporarily Off Market: 0 (0)

Price increase: 0(0)

Back on market: 0 (0)

Rented: 0 (0)

Sale Fail: 0 (0)

———————————–

0-$349,999: 0 (1)

$350,000-$499,999: 7 (7)

$500,000-$749,999:  12 (12)

$750,000-$999,999: 8 (8)

$1,000,000- $1,499,999: 3 (3)

$1,500,000- $2,999,999: 1 (1)
———————————–
Average Price of homes for sale: $716,337 ($709,016)

Median Price of homes for sale: $697,000 ($710,950)

Average Days on Market: 95 (91)

Highest Priced Listing: $1,795,000 ($1,795,000)

Lowest Priced Listing: $358,888 ($299,950)

Townhomes/condos

3  town homes listed

A home for sale in the Kirkland Highlands received an offer this week.  This home was one of the least expensive in the neighborhood, as it was priced just below $300,o00.  Three homes for sale reduced their asking price.  Two of these homes with reduced prices have been on the market for just a few weeks, whereas the third home has been reduced previously and has only been on the market for about 5 weeks.  These sellers are being pro-active and are listening to the market.  Price reductions increase the odds of selling, because a price reduction can help minimize things sellers cannot change. The location, size, floor plan, and style of a home are all things that can’t be changed.

Let’s take two equal homes, homes that are exactly alike, except for their locations.  If one home is located on a busy road and the other home is not, the home on the busy road should be priced lower than the other home. Some buyers will object to the busy road and since the house can’t be moved, the only thing that can be changed to compete with the other home is to reduce the price.  If the home on the busy street is a really good value when it’s compared to its competition, then it will sell.  If it’s priced the same as the homes not located on a busy road, it will help to sell these other homes.

The Puget Sound Business Journal published an article that home values in King County were on the increase, but only nominally. One Realtor quoted in the article said we had hit the bottom of the real estate market.  We’ll know we’ve been at the  bottom when we get past it and the market actually continues to go up.  One month of slightly higher home values is terrific news, but does not show any clear trends.  When we do hit bottom, we will bump along for some time.

Closed sale in The Kirkland Highlands:

$818,000  New construction home with 4 bedrooms, 2.5 baths, and 3574 square feet.  Original asking price of $914,950, last asking price of $849,950, sold in 208 days for 11% below the original asking price.

Have a great weekend, stop by the corner of NE 87th and 112th between 10-noon on Saturday to help weed the entrance to the neighborhood.

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Celebrate Seniors in Kirkland, Washington on June 11th

In Boomer news, Kirkland News, Kirkland WA, seniors on June 3, 2009 at 7:56 pm

Celebrate aging? A concept we sometimes have trouble wrapping ourselves around,  but aging well and having fun by following your passion is happening everywhere and right in Kirkland.  Next week Merrill Gardens in Kirkland is celebrating healthy aging with a senior art show.  The art show is a great example of positive, healthy aging.  Here’s the full article I wrote for The Kirkland Reporter about positive aging and this show:

Age is a question of mind over matter. If you don’t mind, it doesn’t matter.
- – - – Satchel Paige

To me, old age is always fifteen years older than I am.
- – - – Bernard M. Baruch

I greatly admire those who have aged wisely and successfully, those that take the time to enjoy life and have fun. It’s the silver lining of aging.  It’s the wonderful gift of aging, if you take advantage of it.

Successful aging? Who thinks of successful aging?  So often conversation runs to the difficulties seniors face.  I’m guilty of that.  Many of my conversations with friends have revolved around aging parents, their medical care, living arrangements, and safety.  It’s easy to overlook the positive aspects of aging.   The positive aspects of aging?   Yes, the freedom aging provides.   If your body, mind, and pocketbook allow it, you can do any number of things.  Do you travel, volunteer, continue learning, spend time with family, pursue a new career or stay in your present career?  Do you follow your passion?

This month, The Kirkland Senior Council and Merrill Gardens are celebrating those who follow their passion and pursue their artistic dreams. As one of the group’s projects for the year, The Senior Council chose to highlight successful senior talent. The Council launched a program called “Art is for Seniors, Too,” and actively solicited local artists for the show.   These local artists, who happen to be seniors, have submitted art work to be exhibited at a show opening on June 11th from 6-9 PM in the lobby of Merrill Gardens, 201 Kirkland Avenue, in downtown Kirkland.


View Larger Map

There’s a great body of work:  about 30 paintings, 7 photographs, 8 wood pieces and 6 quilts in the show. The show represents a group of 15 very busy, active, and engaged people. The show will be up in the lobby of Merrill Gardens through June 17th.  Awards will be given for the art presented in the show.  There’s a people’s choice award, so you’ll have a chance to vote for your favorite piece of art.

Art is a great expression that deserves our support.  Take advantage of this opportunity to celebrate people who are having fun and aging successfully.

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