Team Reba Real Estate

March 11, 2010

Open House this Sunday, March 14th 1-4pm!!

$379,000 - Recently Updated Richmond Highlands Home!
Main Photo

Location: Richmond Highlands

Custom 1960’s NW Contemporary in desirable Richmond Highlands! Circular floorplan with open living and dining - comes complete with stone fireplace, exposed beams, and dramatic vaulted ceilings. Lots of windows let in the natural light with beautiful tree top views. Updated kitchen with new marmoleum flooring. Master is on main level with private full bath and walk in closet/dressing room. Fully finished daylight basement with recreational room, lots of storage, and two additional bedrooms. Walk out to private NW backyard.

Contact Information
Logo

My Pic Association Logo

Robin Tomazic

Robin@TeamReba.com

206-799-9277

Pricing
Price: $379,000

Property Location
217 NW 175th St

Shoreline, WA 98177

View Map

Links
Check out all photos here!

Features

Bedrooms: 3 Bathrooms: 2.25
Parking Spaces: 2 Year Built: 1963
Subdivision: Richmond Highlands School District: Shoreline
Square Footage: 2800 Agent Name: Robin Tomazic
Broker: RE/MAX Metro Realty MLS #: 33914

Attributes

Appliances

Range/Oven

Full Refrigerator

Washer/Dryer

Dishwasher

Sink Disposal

Microwave

Interior Amenities

Fireplace

Vaulted Ceilings

Basement

Exterior Amenities

Patio

Fenced Yard

Grass Lawn

Tool Shed

Powered by vFlyer.com Equal Housing Opportunity VFLYER ID: 3164408

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All information in this site is deemed reliable but is not guaranteed and is subject to change

March 3, 2010

Open House this Saturday, March 6th from 1 - 4 pm!!!

Filed under: South Park, single family, FHA/VA, gardening, King County, NWMLS, buyer, Seattle, open house, seller — Reba Haas @ 11:39 am
$259,000 - Updated South Park Bungalow
Main Photo

Location: South Park

Wonderful Move-in-Ready South Park Bungalow with loads of charm and character! Traditional living and dining rooms with leaded glass pocket doors and bay window seating. Recently updated systems -electrical, copper plumbing, furnace, roof, & vinyl double pane windows. Efficient home - warm and cozy and ready to move in! Sparkling clean - new paint & carpet - updated kitchen and bath. Convenient location just blocks to Marra Farm community gardens, new library, community center, parks, and restaurants.

Contact Information
LogoMy Pic Association LogoRobin TomazicRobin@TeamReba.com

206-799-9277

Pricing
Price: $259,000
Property Location
811 S Donovan StSeattle, WA 98108View Map

Links
Check out all of the photos here!
Features

Bedrooms: 2 Bathrooms: 1
Parking Spaces: 1+ Year Built: 1904
Lot Size: 6000 Garage Size: 1
School District: Seattle Square Footage: 1060
Agent Name: Robin Tomazic/Team Reba Broker: RE/MAX Metro Eastside
MLS #: 29116302

Attributes

Appliances

Range/Oven

Full Refrigerator

Dishwasher
Interior Amenities

Attic

updated wiring

updated plumbing

wall-to-wall carpet

wood laminate flooring
Exterior Amenities

Fenced Yard

Grass Lawn

alley access

veggie garden

fruit trees

Powered by vFlyer.com Equal Housing Opportunity VFLYER ID: 2713910

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All information in this site is deemed reliable but is not guaranteed and is subject to change

March 1, 2010

Views from Judkins Park Home




$399,000 - Beautiful Judkins Park Home!
Main Photo
Location: Judkins Park
This gorgeous home built 2001 is located in Seattle’s Judkins Park. The neighborhood is the best of many worlds. Close to downtown commuting, or even heading east on I-90, you’ll love being part of a wonderful community with the feel of a small town. Enjoy the open living concept design on the main floor with a beautiful gas fireplace and breathtaking views. The large master suite comes complete with vaulted ceilings and a 5 piece bathroom which includes a large jetted tub. This home also boasts a wonderful color palette, 2 decks, hardwoods throughout and so much more, including views from some rooms to downtown Seattle and Mt. Rainier. Welcome home! You’ll love it here..
Contact Information
Logo

My Pic Association Logo

Reba Haas
(425) 970-3697

Pricing
Price: $399,000

Property Location
2012 S Norman St
Seattle, WA 98144

Links
Features

Bedrooms: 3 Bathrooms: 2.5
Year Built: 2001 Subdivision: Judkins Park
Lot Size: 3000 Garage Size: 1
School District: Seattle Square Footage: 1675
Agent Name: Reba Haas Broker: RE/MAX Metro Realty Inc.
MLS #: 18881

Attributes
Appliances
Range/Oven
Full Refrigerator
Washer/Dryer
Dishwasher
Microwave
Interior Amenities
Fireplace
Hardwood Floors
Security System
Vaulted Ceilings
Basement
Jetted/Soaking Tub
Ceiling Fan(s)
High Tech Cabling
High Tech Cabling
Double Pane / Storm Windows
Exterior Amenities
Fenced Yard
Deck


Powered by vFlyer.com Equal Housing Opportunity VFLYER ID: 3110003




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All information in this site is deemed reliable but is not guaranteed and is subject to change



Opportunity in South Park

Filed under: single family, FHA/VA, vacant land, South Park, King County, buyer, Seattle, NWMLS, seller — Reba Haas @ 12:13 pm



$53,888 - Fantastic Development or Custom Home Opportunity
Main Photo
Location: South Park
Tremendous potential in South Park neighborhood with these 3 side-by-side lots all on one tax parcel for a total of 9,000 square feet. Residential street (SF 5000) with urban overlay to allow higher density PUD/Townhomes or either detached single family homes. Lots of possibilities on a quiet street near parks, new library, elementary school. Utilities are available in street. Additional properties available to create a larger purchase package for redevelopment. Contact listing agent for details.

Contact Information
Logo

My Pic Association Logo

Robin Tomazic
206-799-9277

Pricing
Price: $53,888

Property Location
528 S Concord St
Seattle, WA 98108

Features

Acreage: .207 Sewerage: In Street
Water: In Street Subdivision: South Park
School District: Seattle Agent Name: Robin Tomazic
Broker: RE/MAX Metro Realty Inc. MLS #: 22824


Powered by vFlyer.com Equal Housing Opportunity VFLYER ID: 3132709




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All information in this site is deemed reliable but is not guaranteed and is subject to change



February 26, 2010

New Price Under Conforming Loan Limits - Fairwood Greens

$414,950 - Fantastic Fairwood Greens Golf Community!
Location: Fairwood Greens
Come live in the fantastic Fairwood Greens neighborhood overlooking the 14th tee! Inviting and cheerful, updated 1973 home with new carpet on main floor. Open, circular floor plan with a nice flow of living room, dining room, great room has kitchen w/ slider access to deck and its expansive BBQ deck w/ gas hook up. Four bedrooms on main, Master bath with walk in shower. Additional full bath on main and guest 1/2 bath on lower level. Join the community clubhouse via a social or golf membership. Nearby shopping and parks make this a convenient place to call home. Enjoy the 2 car garage where groceries can be unloaded right into the house on those rainy days—no dodging raindrops. Welcome home!

Contact Information

Reba Haas
(425) 970-3697

Pricing
Price: $414,950

Property Location
16931 155th PL SE
Renton, WA 98058

Features

Bedrooms: 4 Bathrooms: 2.25
Parking Spaces: 2 Year Built: 1973
Subdivision: Fairwood Greens Lot Size: 10800
Garage Size: 2 School District: Kent
Square Footage: 2880 Agent Name: Reba Haas / Team Reba
Broker: RE/MAX Mertro Realty Inc. MLS #: 2881

Attributes
Appliances
Range/Oven
Full Refrigerator
Washer/Dryer
Dishwasher
Sink Disposal
Microwave
Interior Amenities
Fireplace
Vaulted Ceilings
Basement
Exterior Amenities
Patio
Grass Lawn
Partially Fenced
Natural Gas Avaiable
Located on Golf Course


Powered by vFlyer.com Equal Housing Opportunity VFLYER ID: 3135375

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All information in this site is deemed reliable but is not guaranteed and is subject to change

November 2, 2009

1st Time Buyer Tax Credit Extension Update

Everyone has been waiting with baited breath to hear what will happen with the 1st time homebuyer tax credit that currently has a deadline of November 30th for closings in 2009.  Congress passed the extension as of last Wednesday and now the Senate is considering it. Today, an article from REALTOR.com notes that key lawmakers have tentatively agreed to not only the extension through April (to get under contract) but to also put a new element in for buyers who have owned and lived in a home for 5 consecutive out of the past 8 years. Tax credit available to these buyers will be $6,500 but does have some maximum income limitations and/or phase out details that you’ll need to check out for your own personal situation.

August 20, 2009

Seller's be aware of FHA/VA lending requirements for septic if you've got sewer connection available

“Agents:
If you have a listing where the property is hooked up to septic, but sewer is now available then the following rule applies for FHA/Va financing:  The connection must be made to a public water/sewer system or a community water/sewer system, if connection costs to the public or community system are reasonable.  Reasonable is defined by 3% or less of the estimated value of the property.   If the connection costs exceed 3%, then the existing on-site systems will be acceptable provided they are functioning properly and meet the requirements of the local health department.  

 

On Coventional loans, there is no requirement to hook up to the community sewer system.”

We received this message from a local lender regarding properties on septic being REQUIRED to connect to local sewer systems, if a system is available.  There are certain areas of King, Snohomish, and Pierce County where this may affect your sale.  I can think offhand of areas in or near Kirkland’s Rose Hill, Bridle Trails, and Juanita neighborhoods that would likely fit this description and requirement.

So, why is it a big deal?  A few reasons…

1.  Hooking up to sewer usually means higher fees for the homeowner because there is the connection fee. 

2.  Plus, King County has a 15 year assessment worth a few thousand bucks for any new home connecting to the Metro sewer system.  It would need to be researched to confirm if the 15 year fee applies, but I’m guessing it would be.  I’ll check with Michelle Britt the gal that works at King County in this department and report back later with a confirmation.

3.  Sewage fees typically run much higher in cost than septic, plus they are ongoing monthly fees while septic has most of its costs associated with occasional inspections, pumping, and repairs. If you’re not a heavy water user, and especially if you have a gravity system rather than a pump system in your septic design then it’s pretty low cost overall.

Other considerations…

1.  If you’re a seller who is house rich and cash poor - this could mean anyone in financial hardship or elderly on fixed incomes, you may not have the money to make the connection. 

2.  That may mean that a buyer has to take on this risk in a transaction which may be unlikely unless they feel they’re getting a “deal” on the home itself (read, lower sale price).

3.  If you need to try and sell quickly, or you didn’t know about this in advance of trying to sell and move out of area, it could derail or complicate your plans because of the time needed to get it completed.

When you think about the fact that home sales aren’t always done because of good circumstances, having this be a requirement when selling can make it a hardship on some.  The fact that FHA is a strong percentage of the loans being financed today means it will also affect some sales negatively.  Anyone with less than 20% down is currently getting directed toward FHA loans, and VA loans are picking up with more and more people going to, and coming back from, military action overseas.

Finally, when you think of 3% as property value - consider the housing prices we have here in the Seattle/Bellevue metro area.  Just in those Kirkland neighborhoods alone these are the sales stats on 184 properties that met septic and sewer available notation in the NWMLS since January 2007 using the following parameters:

 Property Type  Residential    City  Kirkland
Statuses  Active, Contingent, Pending BU Requested (2/21/2009 or after) , Pending Inspection (2/21/2009 or after) , Pending (2/21/2009 or after) , Sold (1/1/2007 or after)
Sewer  Sewer Available OR Septic

Quick Stats - Averages
  Listing $ SqFt Listing Pr/SqFt CDOM Sale $ Selling Pr/SqFt

If 3% is the “reasonable” test for requiring the change, then the cost be upwards of $20,000 based on the average sale price and a seller would be required to pay for it.  Ouch!

 

If you are a seller who will be impacted by this lending requirement, then be sure to discuss it with your agent and do your homework in advance of going on market.  FHA max JUMBO loan guidelines have $567,500 as their top loan value so if you’re priced under $709,375 this could apply to you.

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July 28, 2009

June stats for the Puget Sound MLS show some encouraging news… and mixed results

4-County Puget Sound Region Pending Sales (SFH + Condo combined)
(Totals include King, Snohomish, Pierce & Kitsap counties)

 

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2000

3706

4778

5903

5116

5490

5079

4928

5432

4569

4675

4126

3166

2001

4334

5056

5722

5399

5631

5568

5434

5544

4040

4387

4155

3430

2002

4293

4735

5569

5436

6131

5212

5525

6215

5394

5777

4966

4153

2003

4746

5290

6889

6837

7148

7202

7673

7135

6698

6552

4904

4454

2004

4521

6284

8073

7910

7888

8186

7583

7464

6984

6761

6228

5195

2005

5426

6833

8801

8420

8610

8896

8207

8784

7561

7157

6188

4837

2006

5275

6032

8174

7651

8411

8094

7121

7692

6216

6403

5292

4346

2007

4869

6239

7192

6974

7311

6876

6371

5580

4153

4447

3896

2975

2008

3291

4167

4520

4624

4526

4765

4580

4584

4445

3346 2841 2432
2009 3250 3407 4262 5372 5498 5963            

It would be easy to look at this and with a broad stroke look at it and think, “Whew, I’m glad we’re done with that real estate downturn!” but it’s not that simple.  Other news that came out in June’s numbers shows that in real estate it still is the same story of “location, location, location” plus there is a bit of a chicken and egg issue.  Is the lower inventory level because there are picked up sales, or because people who would have sold aren’t doing so now and are instead holding on till later?  Either way, it’s probably just as well given that it will be a little while before appreciation picks up to make up for the loss of value of the past 2 years.

Statistical Summary by Counties: Market Activity Summary - June 2009

June 2009
Single
Family
Homes
+ Condos

LISTINGS

PENDING
SALES

CLOSED SALES

New
Listings

Total
Active

# Pending
Sales

#
Closings

Average
Price

Median
Price

King

4373

13351

3042

2083

$446,044

$363,116

Pierce

1668

5953

1341

798

$258,761

$230,000

Some of the news released talks about the decline in the number of condo units being sold in downtown Seattle but what has affected that sector has been the financing market as almost all lenders have required larger down payments (minimum 10%) which many buyers don’t have available.  When 5% purchase options were available more people were able to save those kinds of funds, but when the median price $449,450 you can see why a change from 5% to 10% can put a dent in sales.

We’ll keep putting out information on the local market areas so that you can keep up to speed on market changes. If there is a specific market area you’d like to see highlighted or reviewed, feel free to comment or email us with your request.

July 27, 2009

Ballard, Phinney and Greenlake generate relatively strong sales for summer 2009

Famous for its lutefisk and cedar shingles from the early settlers days in the area, this neighborhood has grown into a more sleek version of itself in the 2000’s. New density has arrived by way of condos and townhomes fueled somewhat by the thought there would be the Monorail to support the increased traffic.  Alas, that didn’t happen but the building continued once the financing was underway and the economy at the time supported it.  Granted, not all neighbors have been fans of these changes, but the Growth Management Act enacted in 1990 in WA State required cities to embrace and create density. Which led to a new zoning overlay of Ballard providing the ability for some of the old single family housing stock to be taken out for new, larger housing projects like these.

Market times for the Ballard area have been better than many others with an average on market of 68 days for homes in the $400-500k range. Higher priced homes from $600k-$1M have been taking much longer and have experienced major price reductions, particularly in new construction single family homes.

Because of the hit many builders are taking, don’t expect much new construction in this area - and nearby Greenlake, Phinney, etc, for the next 2 years. What’s out there in inventory now is what we’ll have for a while unless it’s a project already in process.

May 2009 sales activity shows year to date average price at $440,557 down 14% from last year’s average of $514,696. But, the good news for May was that sales volume was up 1% over last year. Always ahead of other market areas in terms of volume (because of the size of the area) there were 145 transactions closed in May for MLS market area 705.

June also had strong activity and is expected to come in July’s numbers due out in about a week.

July 23, 2009

1st time home buyers in Seattle can look to Central/South areas for bargains

Of all these neighborhoods, the furthest south locales are where the better (read lower) prices are at. The closer to downtown Seattle you get, you’ll tend to see prices going up, unless the street or individual house hasn’t had good upkeep.  With the current expiration date for the $8,000 1st-time buyer tax credit coming up on the last day of November, if you’re going to buy now is a good time to get moving (pun intended)!  I will note that there is talk of extending the tax credit, but it’s not a “for sure” thing so take advantage of the credit while you can.

Architects have been focusing on the renovated areas of Madison and the Central District because they still feel it’s “where the best sales prices are” for them, but that’s not always true for the buyers.  We’ve been trying for years to get more architects to look at the light rail areas along MLK and Beacon Hill where prices fit more into the busier price ranges of $250-450k.  One of our builder clients is about to release a listing on a new construction 2900-sqft home in the next week or so that will have easy access to light rail and I-5, along with having some nice views out to Mt. Rainier and the Cascades.

Back up in central district, not everyone is savvy to the cuteness that is the Madrona neighborhood just east of MLK, right before you hit the pricier areas of the Lake Washington view homes which are down below the steep hill dropoff. The Central District has a widely varying demographic giving it an eclectic vibe. Many neighborhood areas actually fit into the CD (area 390) - Jackson, First Hill, Judkins, Madison Valley.

This is reflected in the breakdown of the MLS market areas that encompass these areas. Examples:
Mt. Baker/Rainier (area 380) had an average sales price in May 2009 of $404,060 and average YTD of $409,048, down 10% from last year.

Beacon Hill (area 385) average sales price for May was $345,767 and YTD of 337,958 down only 4% from last year.

Central Seattle/Madison Park (area 390) had an average sales price of $714,221 and a YTD average of $723,942. That’s down 25% from last year’s average of $968,625 proving again that it’s the higher priced homes are getting hit hardest in our local economy and primarily by the reduced ability for buyers to get funding for loans in these higher price ranges.http://mymaryetta.com/?p=7648 a
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