REAL ESTATE KIRKLAND
JANUARY 2011
Your guide to Real Estate and home buying & selling
T
he economic outlook for real estate is never just economy still had 130 million job holders, and given the black and white – you’ve got to look at the encourright incentives, they purchased homes. aging signs and various forms of data if you want a Measures such as the recently expired first-time homerealistic picture. buyer tax credit and a larger number of mortgage loans Despite these challenging economic times, existing home that qualify for purchase by Fannie Mae and Freddie Mac sales will be rising. Why? The answer, in a word: affordand through the FHA program have further brought home ability. Currently, the two most important factors buyers to the marketplace. driving home sales are: AFFORDABILITY and Purchase applications using FHA-insured INTEREST RATES! mortgages – the hottest game in town – were up With home prices stabilizing in many parts of by 15.2 percent! Part of the reason for the apthe country and mortgage rates still near historic plication jump: Mortgage rates continue to hover lows, affordability conditions have markedly just half a point over 40-year lows. improved. Last week saw the year finish on a high note for Even with the current unemployment rate, the housing market with Pending Home Sales for nearly 92 percent of households will have jobs. November coming in UP 3.5 percent, after this These 92 percent of the working households figure was expected to be down slightly for the (rather than 97 percent during the BOOM month. This reading measures homes under coneconomic times) respond to home-buying incentract, and therefore should point to an increase in tives. I say this because we have history as a closings in the January-February time frame. lesson. In addition, Standard & Poor’s/Case-Shiller “Debbie Walter Back in the prior recession (2001-2003) the Home Price Index for December cited 4 of the Realtor - RE/MAX NW economy shed nearly 2 million net jobs. Even major 20 national cities showed annual price during those years, existing-home sales rose GAINS and the index is still above its spring 2009 from 5.2 million to 6.2 million just as jobs were low. In addition, the Case-Shiller 10-City Index being cut. showed a year-over-year price gain. New home sales, likewise rose from 900,000 to 1.1 milIt’s important to remember that real estate is local! lion. Mortgage rates were falling. Housing affordability FORBES Magazine recently stated employers are more increased. While those 2 million job cuts were painful, the optimistic about hiring in the first quarter of 2011 than at
NEW LISTING NORTH JUANITA
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Stunning Houghton 4-Bed/2.75-Bath/ 2570sq Ft Home W/Lake View. Gourmet Kitchen With SS Appl, Granite Slab & Hardwoods. Lots Of Nat’l Light. Quiet & TreeLined Private Drive. – SOLD $575K –
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FINN HILL
Lovely *Open Design* Home Perfectly Situated On A Level/Pri/FullyFncd/11,200 Sf Lot. Hardwood Floors, New Int/ Ext Paint + A New 30-Yr Comp Roof. Gas Appls & 1-Yr Home Warranty. – SOLD $291K –
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Debbie Walter, Realtor
®
“Your Real Estate Consultant For Life!” CDPE, CRS, GRI, ABR, SRES, Green Certified, Realtor, Platinum Club Producer & Hall of Fame Achiever
Cell: 206.930.8699
RE/MAX NW Realtors Servicing the Greater Puget Sound Area
Clive@Windermere.com www.Kirklandhomelistings.com
Specializing in Kirkland Properties.
“Exceptional Service, Extraordinary Results”
FORBES CREEK
Spectacular $85K Remodel And Impeccable Open Design W/Brand New Paint/Hardwoods/ Carpet/State-Of- The-Art Gourmet Kitchen/ SS Appl & Granite Counters. All New Lighting Makes This Home Incredibly Light/Bright. 2-Car Garage + Prime Cul-De-Sac Location & Min To Lake Washington Schools & I-405! $379,900 MLS #148382
HOUGHTON
Windermere Real Estate/Central, Inc.
Meticulous & one-of-a kind 2-story on private/ quiet/tree-lined street. Assessed Value=$378K! Completely turn-key & Pottery-Barn cute w/rare 2-car gar! New ext/int paint, new carpet, fncd yrd w/large deck, all applc stay + AC. Vaulted ceilings, tennis & basketball courts/parks/ trails/min to DT Kirkland/waterfront/I-405. MLS #129536!
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HIGHLANDS
$234,900
Contemporary Highlands Recent Remodel Impressive/Open Design N PE With State-Of-Art Gourmet Kitchen, Granite Slab/SS Appliances. Lovely Tree-Lined/CulDe-Sac & Quiet/Private/ Fenced Yard. Expansive Entertainment Deck. Prime Locale With Easy 405/520 Access. Home Warranty Included. MLS #129231
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$519,900
“Because You and Your Home Deserve the Very BEST ” • Staging • Professional Photos • Virtual Tours • Video Commercial • Beautifully Colored Flyers • Your Home Showcased on YouTube, Google, MSN & 62 other websites!
See All Available Listings at www.DebbieWalter.com
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Clive Egdes 206-251-1680
446673
Get Ready – Spring is Around the Corner
any time in more than two years. Overall nine percent more of them expect to be adding staff than expect to be reducing it. Some cities have an exceptionally positive outlook. So how does our local area rank? “Information technology and gaming, international trade, life services, health care and professional services are the areas anticipating the most growth in the greater Seattle area,” says George Allen, senior vice president of govern[ more SPRING page 10 ]