Buyers |
 Search for Renton real estate, Newcastle real estate, South Bellevue real estate as well as property listings in any other city the Pacific Northwest has to offer. Whether you're looking for your first home, your dream home or an investment property, I'm committed to providing you with the highest quality buyer service. Be sure to check out my neighborhood events calendar for the latest things to do in and around Renton, Newcastle and South Bellevue. My community info page will give you detailed neighborhood reports and be sure you don't forget to visit my Renton Info Blog if you are looking for a regularly updated source of local real estate news. Read more. |
Sellers |
 The decision to sell a home is often dependent on many factors. If you are looking for market statistics, selling tips or home values, you have come to the right place. Whatever your reasons are for selling, my real estate marketing strategies will ensure that you get the highest possible price for your home. I will provide you with professional, ethical and confidential service and keep you fully informed every step of the way. Read more. |
News! 06/25/08
Countrywide is having some issues
According to Kirotv.com, “Gov. Chris Gregoire says the state is pulling the license of Countrywide Home Loans to write loans in Washington and that investigators found evidence of ‘predatory practices’ aimed at minorities.”
Some mortgage companies have warehouse lines that are with Countrywide. These are the lines of credit used to fund loans and if they are not allowed to operate in WA State, they will not be able to fund any loan regardless of whether or not the loan was intended to transfer to Countrywide. We don’t know all details of how this will affect Broker or Correspondent relationships but we’ll keep you informed as we get more details.
If you have a signed around purchase and sale agreement, ask your real estate agent if Countrywide is a player in your transaction.
News! 06/24/08
I-405 and Eastside Projects Update
Late night I-90 closures and rolling slowdowns on Mercer Island
Late-night drivers should prepare for delays on I-90 in Mercer Island. Starting Monday, June 23 crews plan several lane and ramp closures as they build new I-90 HOV on and off-ramps on Mercer Island and improve I-90 HOV access at Bellevue Way as part of Sound Transit’s I-90 HOV access project. Work will continue through Friday, June 27. On, Saturday and Sunday crews will conduct rolling slowdowns overnight on eastbound I-90 while they install a sign bridge
Learn what's happening with SR 520 at open houses this week
We are hosting two open houses this week in Seattle and Bellevue to share information about the latest plans for the SR 520 bridge replacement . The new plans that we will present are a result of a mediation process on the west side of Lake Washington and collaboration with Eastside communities.
In addition to the update about the bridge replacement, representatives from the Lake Washington Urban Partnership will also launch an environmental process for a proposal to toll the existing SR 520 floating bridge, and they want to hear what you think should be studied in the environmental analysis.
You will also be able to speak with project partners working on other key corridor elements, including Sound Transit, King County Metro, and staff from the newly-formed SR 520 Tolling Implementation Committee .
The first open house will start at 4 p.m. on Tuesday, June 24, at the Naval Reserve Building in Seattle, 860 Terry Ave N (at Valley Street). The second open house will take place from 4 to 7 p.m., Wednesday, June 25, at Bellevue City Hall, 450 110th Ave NE.
How will you get around during the Wilburton Tunnel closures in August?
It’s never too early to plan your routes around I-405 in Bellevue this August. During the weekends of August 8-11, 15-18 and 22-25 crews will close southbound I-405 between SE 8th Street and I-90 to remove the Wilburton Tunnel (PDF 1 MB) to make room for more southbound I-405 lanes.
How can you help minimize traffic backups? Delay or reschedule nonessential trips, use an alternate route, carpool, take the bus or work from home.
You can also call 511 for travel information and check the I-405 construction updates closure information on I-405.
News! 06/23/08
Updated Renton Real Estate, Newcastle Real Estate & South Bellevue Real Estate Market Statistics (As of June 23rd, 2008)
These numbers are based on a three month historical analysis that is updated on a weekly basis.
MLS Area 500 (Newcastle, Bellevue South of I-90 & Issaquah South of I-90)
Single Family Homes
Average Days on Market: 97 Days (Up From 95 Last Week)
Inventory of Active Listings: 610 (Up from 590 Last Week)
Inventory of Sold & Pending Listings: 225 (Up From 252 Last Week)
75 listings are absorbed by demand each month on average. (Up From 74 Last Week)
8.13 Months Worth of Supply (Up from 7.97 Last Week)
Average List Price: $891,839 (Up From $887,468 Last Week)
Average Sale Price: $736,723 (Up From $736,144 Last Week)
Median Sale Price: $620,500 (Up from $615,000 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 500 for Single Family Homes: This area favors buyers over sellers based on the fact that there is a 8.13 month supply of homes. This means that if no additional homes were listed, it would take 8.13 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.
Condominiums
Average Days on Market: 78 Days (Up From 68 Last Week)
Inventory of Active Listings: 157 Active Listings (Up from 149 Last Week)
Inventory of Sold & Pending Listings: 83 (Up from 80 Last Week)
28 listings are absorbed by demand each month on average. (Up From 27 Last Week)
5.6 Months Worth of Supply (Up From 5.5 Last Week)
Average List Price: $336,125 (Up From $333,526 Last Week)
Average Sale Price: $347,825 (Up From $342,746 Last Week)
Median Sale Price: $329,000 (Up From $320,000 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 500 for condos: This area is balanced between buyers and sellers based on the fact that there is a 5.6 month supply of homes. This means that if no additional homes were listed, it would take 5.6 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.
MLS Area 350 (Northeast Renton / Renton Highlands, East Highlands, Briarwood)
Single Family Homes
Average Days on Market: 101 Days (No Change From Last Week)
Inventory of Active Listings: 467 (Up from 455 Last Week)
Inventory of Sold & Pending Listings: 268 (Up from 265 Last Week)
89 listings are absorbed by demand each month on average. (Up from 88 Last Week)
5.2 Months Worth of Supply (Down from 5.7 Months Last Week)
Average List Price: $570,915 (Down From $573,048 Last Week)
Average Sale Price: $477,312 (Up From $476,012 Last Week)
Median Sale Price: $415,000 (Down From $424,740 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 350 for Single Family Homes: This area favors sellers overs buyers based on the fact that there is a 5.2 month supply of homes. This means that if no additional homes were listed, it would take 5.2 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.
Condominiums
Average Days on Market: 82 Days (Up From 78 Last Week)
Inventory of Active Listings: 95 Active Listings (Up From 89 last week)
Inventory of Sold & Pending Listings: 37 (No Change From Last Week)
12 listings are absorbed by demand each month on average. (Up from 10 Last Week)
7.9 Months Worth of Supply (Up from 7.4 Months Last Week)
Average List Price: $255,001 (Up From $253,102 Last Week)
Average Sale Price: $250,397 (Up From $241,593 Last Week)
Median Sale Price: $245,000 (Up From $227,500 Last Week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 350 for condos: This area is favors buyers over sellers based on the fact that there is a 7.9 month supply of homes. This means that if no additional homes were listed, it would take 7.9 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.
MLS Area 340 (Southeast Renton / Cascade, Tiffany Park, Talbot Hill, Benson Hill, Fairwood)
Single Family Homes
Average Days on Market: 97 Days (Up From 93 Last Week)
Inventory of Active Listings: 410 (Down From 411 Active Listings Last Week)
Inventory of Sold & Pending Listings: 188 (Up From 186 Last Week)
63 listings are absorbed by demand each month on average. (Up from 62 Last Week)
6.50 Months Worth of Supply (Down From 6.62 Months Worth of Supply Last Week)
Average List Price: $439,958 (Down From $441,558 Last Week)
Average Sale Price: $369,938 (Down From $373,790 Last Week)
Median Sale Price: $361,500 (Down From $363,000 Last week) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 340 for Single Family Homes: This area is balanced between buyers and sellers based on the fact that there is a 6.50 month supply of homes. This means that if no additional homes were listed, it would take 6.50 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.
Condominiums
Average Days on Market: 84 Days (Down From 85 Last Week)
Inventory of Active Listings: 112 Active Listings (Up From 109 Last Week)
Inventory of Sold & Pending Listings: 53 (Up from 52 last Week)
18 listings are absorbed by demand each month on average. (Up From 17 Last Week)
6.2 Months Worth of Supply (Down from 6.4 Last Week)
Average List Price: $233,371 (Down From $234,030 Last Week)
Average Sale Price: $214,240 (Down From $232,259 Last Week)
Median Sale Price: $207,500 (Down From $230,000 Last WeeK) (1/2 sell for more & 1/2 sell for less)
Analysis of MLS Area 340 for Condos: This area is balanced between buyers and sellers based on the fact that there is a 6.2 month supply of homes. This means that if no additional homes were listed, it would take 6.2 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.
If you are interested in statistical information for an MLS area not covered here, please respond to this post to let me know what neighborhood you live in and I will follow up with the statistics specific to your area of interest. You are also welcome to visit my website at www.davidjedwards.com where you can access my Market Snapshot research tool found on the left side of the homepage.
This information is deemed reliable but it is not guaranteed to be 100% accurate. I generated these statistics using the Northwest Multiple Listing Service. These statistics were not compiled or published by the Northwest Multiple Listing Service. The analysis of each MLS Area is based on the market statistics but is the personal opinion of the author.
News! 06/20/08
I-405 and Eastside Projects Update
Tolling committee launches conversation about SR 520 tolling
To launch public discussions about tolling in the SR 520 corridor, the 2008 legislature appointed a tolling implementation committee that has three members: WSDOT Secretary Paula Hammond; Puget Sound Regional Council Executive Director Bob Drewel; and Commissioner Dick Ford from the Washington State Transportation Commission. The committee recently held its first public meeting on June 17, and has launched its new Web site at http://www.build520.org/.
Southbound I-405 in Bellevue to close in August for tunnel removal
Crews in south Bellevue continue to make progress removing dirt and vegetation from the top of the Wilburton tunnel in preparation for its demolition this August. Crews will use equipment that will crunch and break concrete as well as a crane with a wrecking ball to demolish the Wilburton tunnel. Southbound I-405 will close completely from SE 8th Street to I-90 during three weekends:
11 p.m., Friday, August 8 to 5 a.m., Monday August 11
11 p.m., Friday, August 15 to 5 a.m., Monday, August 18
11 p.m., Friday August 22 to 5 a.m., Monday August 25
News! 06/19/08
Duvall Ave Detour Shortcut During Construction
You have probably noticed that Duvall Avenue is now closed between Sunset Blvd. NE and SE 95th Way. This closure is scheduled to remain in force for approximately one year.
To minimize the road closure's impact on your daily commute, you can take advantage of a shortcut by turning left on SR 900 from Duvall and then right on Union. Head South on Union to SE 95th Way and turn left when you get to Duvall. Most drivers are not aware of the fact that the closure has not affected the bridge.
Improvements will include widening the road to five lanes, including a two-way left-turn lane in the center; overhead power lines being converted to underground lines in anticipation of added safety during storms and emergencies; a new traffic signal at Duvall Ave. N. and NE 21st St.; new gutters; new bicycle lanes; and new sidewalks.
For updates visit duvall.rentonwa.gov.
Want more news? Visit my blog at http://www.davidjedwards.com/renton-info-blog.asp