JANUARY 2018
Madison Park Times
Serving East-Central Seattle since 1983
Real Estate
MADISON PARK - WASHINGTON PARK - MADISON VALLEY - DENNY-BLAINE - MADRONA - LESCHI www .M adison P ark T imes . com
Strong close to 2017, expect more of same
Chris Sudore PROPERTY VIEWS Last year closed out with a bang — December 2017’s real estate market continued to thrive. By end of month, we saw 31 homes sold, up from 21 in 2016. To put that in better context, some say April’s traditionally the height of the market — and April saw 34 sales. The expected cool-down never happened. Diving a little deeper, in certain price points, almost every home sold for well above
its asking price, with what we’ve come to expect — multiple offers and buyers willing to do almost anything to get the properties they want. Many buyers paused during the summer, only to jump back into the scrum during the later months of the year. For the year, real estate value in the Seattle market was up 13 percent over 2016.
Looking ahead
However, inventory will likely continue to be limited. Because the market is highly competitive, it’s disrupting the usual progress of home ownership. Many homeowners who would like to move up in the market are stuck — not because they can’t sell their home, but because it’s difficult to find a home to buy and move into. If you’re thinking of buying, selling, or both in 2018, now’s the time to get ready.
Selling in 2018 Let’s take a look at what 2017 can tell us about what’s to come this year. Barring any sort of natural or man-made disaster, the outlook is robust. Seattle continues to add good-paying jobs, often filled by recruits from out of town who need a home quickly.
THIS EXQUISITE SEATTLE HEIGHTS PENTHOUSE COMBINES CLASSIC DESIGN WITH A PALETTE OF CONTEMPORARY MATERIALS..
If you’re thinking of selling, don’t get lulled into a false sense of security. Sure, it’s a seller’s market, but you can’t afford to be complacent. This fall, a client of mine listed his house. It was in a great neighborhood, and
he was confident it would sell, as his neighbor’s did, in days for more money than he was asking. The house was generally in decent shape, but was suffering from deferred maintenance — dead grass, rotting deck, old paint inside and out, older carpets, and faded siding. I advised him to clean it up and make the repairs before putting it on the market. He thought he’d be fine. It’s a seller’s market, right? Prior to the listing date, I showed the house to buyers, who walked away quickly. This happened a few more times. He got the message, installed new grass, decking, siding, painted inside and out, and replaced the carpets. It took a couple of weeks, and about $30,000. We then listed the property. Within days, he had seven offers and winded up settling $100,000
over asking price. Don’t get caught up in the same thinking. If it’s old and faded or rotten or squeaking, fix it. Buyers want a turnkey home and property. Those are the homes that move quickly, get multiple offers, and settle for more — sometimes a lot more — than the asking price. Spending $10,000-15,000 to realize a six-figure gain is more than worth it. Spend on preparation, and start now. We’re not talking about remodeling a kitchen or bath. There will be things you can DIY, with a paint brush, some spackle, or a power washer. For other tasks, you may find the tradespeople you need — landscapers, carpenters, painters — are booked out a couple of weeks or months. The other side of this SUDORE, Page B4
BELLTOWN CONDOMINIUM
$2,888,000
Just Sold 3302 East Shore Drive | Broadmoor CONTACT MOIRA TO REPRESENT YOU AS EITHER A BUYER OR SELLER
MOIRA E. HOLLEY moirα@moirαpresents.com 2 0 6 . 6 6 0 . 4 78 7 moirαpresents.com
I just sold my most recent Broadmoor listing at a price of $5,825,000 after less than two months on the market. This is the third highest sale in Broadmoor ever. I live and work in the neighborhood and have sold many homes in our community over the years. If you are considering selling now or in the future, or if you would simply like an idea of your property’s value in today’s market, I would be happy to provide you with a complimentary and confidential consultation. Let me know how I can help you with your real estate goals in 2018! 206.919.6605 lisaturnure@CBBain.com LisaTurnure.com
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Thank you, neighbors, for a fantastic year!
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DENNY BLAINE
DOWNTOWN
206.322.2840 ewingandclark.com luxuryrealestate.com
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January 2018
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Now is the time to plan your 2018 move. HAPPY NEW YEAR
Wishing everyone good health, happiness, and peace in the New Year. I am honored and proud to serve fellow neighbors within our community each and every day.
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SCOTT WHITTLESEY
LESLIE DICKINSON
425.269.1303 SCOTT.W@WINDERMERE.COM WHITTLESEYPROPERTIES.com
Luxury Real Estate Founding Member, Madison Park 206.200.2174 | Leslie.Dickinson@RSIR.com LeslieDickinsonHomes.com
206.461.1337 ppccirc@nwlink.com
Each Office Is Independently Owned And Operated.
Each office is independently owned and operated. Seller reserves the right to change product offering without notice.
PROVEN RESULTS
I
have never been more proud to be a part of Realogics Sotheby’s International Realty (RSIR), as our firm continues its position as a trusted resource both within the local market and internationally through our firm’s global network. In a recent look at the Seattle market, RSIR reveals that 78 percent of the 496 new condominiums being built in the downtown Seattle area are already presold, and virtually all remaining homes are priced above $700,000. With the lack of attainably priced homes in the downtown core, we are facing a condo crunch, especially given that there are as few as 11 resale homes listed below $700,000, according to Northwest Multiple Listing Service. Though market conditions may seem daunting to potential buyers, market pundits say unit reservations and presales can offer much needed relief for those willing to plan ahead.
Sotheby’s Presents the Finest & Rarest Wines at Auction this Winter.
NEW ON MARKET
Managing Broker | Senior Global Real Estate Advisor Founding Member | 206.399.5842 Laura.Halliday@rsir.com
A CONTINUED LEGACY RSIR ranks amongst the largest, most productive and fastestgrowing real estate companies in Washington with access to 21,000 brokers in 69 countries that generate US sales of $80 billion+ annually. WHAT MY CLIENTS ARE SAYING
The future is near. Plan with perspective. Visit Seattlein2020.com today! We were looking for someone who understood her client’s needs and who would truly represent them. We found those qualities in Laura Halliday. Her attention to detail, her easygoing nature and her sense of humor were great bonuses. We would recommend Laura without hesitation. - CARLO & LALIE SCANDUIZZI
SOLD - $1,595,000 3811 Cascadia Avenue South - All new, classic style home in the heart of sought-after Cascadia Avenue. Great room on the main floor with a galley styled kitchen, bold lighting, hardwood floors & covered view deck. Master Suite with generously appointed 5 piece bath plus 3 other bedrooms. Separate media room on lower level & at the top….a rooftop deck with Lake Washington views!
Each Office Is Independently Owned And Operated. Seller reserves the right change the product offering without notice.
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January 2018
Homes Closed in Madison Park, Madison Valley, Washington Park, Denny Blaine, Broadmoor, Leschi and Madrona from November 22 thru December 22 ADDRESS
BED
BATH
SQ FT
BUILT
DAYS ON MKT
ORIG PRICE
LIST PRICE
SOLD PRICE/ ASKING PRICE
2901 S Jackson St #306
1
1
448
2004
8
$230,000
$245,000
106.52%
2626 E Madison St # 9
2
1
662
1985
7
$324,000
$338,000
104.32% 100.00%
1836 25th Ave #102
1
1
624
1985
9
$398,000
$398,000
2040 43rd Ave E #315
1
1
553
1961
24
$435,000
$425,000
97.70%
1600 43rd Ave E #211
2
1
952
1959
24
$500,000
$465,000
93.00%
334 Lakeside Ave S #302
2
1
683
1956
40
$499,000
$500,000
100.20%
334 Lakeside Ave S #203
2
1
683
1956
32
$525,000
$525,000
100.00%
1520 27th Ave
3
1
2,580
1928
5
$599,950
$641,000
106.84%
1137 29th Ave S
3
2.5
1,410
2008
3
$629,000
$710,000
112.88%
503 30th Ave S
2
1
1,980
1901
11
$750,000
$725,000
96.67%
620 Lake Washington Blvd E
2
2.25
1,420
1997
11
$800,000
$770,000
96.25%
823 Martin Luther King Jr Wy
4
2.5
2,320
1910
11
$800,000
$800,000
100.00%
420 35th Ave S
4
2
2,010
1915
48
$835,000
$827,000
99.04%
425 31st Ave
4
2
1,840
1958
7
$874,900
$930,000
106.30%
206 32nd Ave E
3
2.5
2,090
1993
8
$945,000
$945,000
100.00%
124 29th Ave E
3
2.75
2,450
1906
9
$875,000
$975,000
111.43%
1817 Madrona Dr
4
2
3,130
1919
11
$975,000
$1,000,000
102.56%
1351 Lake Washington Blvd S
3
2.25
2,390
1920
45
$1,075,000
$1,020,000
94.88% 100.00%
2615 E Pine St
4
2.75
2,310
1927
22
$1,088,000
$1,088,000
3504 E Spruce St
4
2.25
2,220
1990
28
$1,118,000
$1,106,400
98.96%
329 25th Ave E
2
2.25
1,770
1984
6
$1,188,000
$1,250,000
105.22%
1615 37th Ave
4
2.5
3,520
1909
8
$1,300,000
$1,260,000
96.92%
1546 Madrona Dr
4
3
2,660
1985
20
$1,350,000
$1,300,000
96.30%
1412 37th Ave
4
1.5
2,039
1907
13
$1,450,000
$1,400,000
96.55%
1915 39th Ave E
2
2.25
1,830
1983
41
$1,795,000
$1,635,000
91.09%
4100 E Lee St
4
1.75
3,000
1939
43
$1,698,500
$1,665,000
98.03%
3005 S Washingon St
5
3.5
3,992
2017
27
$1,827,500
$1,786,000
97.73%
1507 42nd Ave E
4
3.5
2,830
1927
37
$1,800,000
$1,865,000
103.61%
1525 36th Ave S
4
3.5
3,710
2017
6
$2,288,000
$2,288,000
100.00%
1415 35th Ave
3
1.5
4,160
1901
13
$2,900,000
$3,000,000
103.45%
3302 E Shore Dr
5
5
7,080
1929
66
$5,950,000
$5,825,000
97.90%
When you need a mortgage, experience counts If you’re planning to purchase or refinance a home, choosing a lender is as important as choosing your mortgage. Look to my ��� years of mortgage lending experience to help you understand your options. Combined with the resources of the nation’s leading residential lender, I can help you find a home financing option to meet your needs.
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hot market is that folks who can’t find a place to move to are renovating and improving the homes they’re already in. You’re competing for contractors and tradespeople with them, as well as other sellers prepping. Don’t sleep on improvements — even small ones can make a huge difference in your bottom line.
Planning to buy There are homes to buy. But you — and your broker — have to be prepared to fight and win to get one you want. Starting now, get your financing together — whether it’s a mortgage or cash. If you need to liquidate assets into cash, take those steps now. If a seller is considering multiple offers, cash will almost always win out. They won’t want to wait for potential cash. Choose your broker carefully. You want someone who will work hard for you. But hard work alone may not be enough. You want a broker who has a network, and will work those contacts to your advantage. Here’s an example of how that happens. I and my team
work with corporate relocation networks. I also actively work the phones, talking to other brokers outside of my company. This pays off for my clients. Last fall, I had sellers who weren’t on the market yet (and didn’t want to technically list, but were open to selling at the right price). I knew the home well. When a call came about a couple relocating for work, that home ticked all the boxes for them. My sellers got a great offer and an easy settlement, and the buyers got a home they loved, quickly and without going through a bidding war. As a buyer, you need someone dialed in to this market. Interview them and ask questions — how long they’ve been working, how they work, and how big their network is. You have to be mentally and financially prepared to move quickly and decisively — and to deal with disappointment if you don’t get the house. Your broker is your ally, and can help you stay positive and confident. No matter what side of the deals you’ll be on, get started now to be successful this year. Chris Sudore is a Madison Park Resident and managing broker at Coldwell Banker Global Luxury.
The Stewart Lumber & Hardware Company
• Jumbo loans for higher-priced properties • Competitive interest rates • Wide selection of conventional loan options Let’s have a conversation today. Tom Golon, Home Mortgage Consultant ��� Third Ave., Ste. ����, Seattle, WA ����� ���-���-���� tom.golon@wellsfargo.com NMLSR ID ������
Sudore, from Page B1
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@MadisonParkTime
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Information is accurate as of date of printing and is subject to change without notice. Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N. A. © ���� Wells Fargo Bank, N.A. All rights reserved. NMLSR ID ������. AS������� Expires ��/����
TheStewartLumberCo.com
Are you considering selling in 2018? May this New Year bring you a peace filled life, warmth & togetherness in your family and much prosperity!
I will provide a no cost, no obligation market analysis of your property and talk with you about the current market conditions.
1761 Rainier Ave. S Seattle, WA 98144
With over 30 years of real estate experience, I would love to be your real estate expert when it comes to marketing your home & purchasing a new home. I am excited to talk with you about your options!
SPECTACULAR HOME IN THE SKY! Rare opportunity to live in this view home overlooking Lake Union; spectacular sunrises framing the Cascades and Seattle at your feet. Huge deck for entertaining. Watch the world sail, paddleboard and float by on South Lake Union.
Kathryn Hinds
206.650.6488 kathrynhinds@comcast.net kathrynhinds.withwre.com
Contact me to provide you with my past listings and sales in your neighborhood. SOLD
SOLD
SOLD
$1,800,000
SEATTLE • 3300 Meridian Ave. N. #411
FIRST HILL CONDO
DENNY BLAINE
LESCHI AREA
BETH TOOMEY
LISTED AT $475,000
LISTED AT $2,550,000
LISTED AT $2,288,000
206.949.6325 • bethtoomey@cbbain.com
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January 2018
Artfully uniting extraordinary homes with extraordinary lives: luxury is an experience, not a price point.
LESCHI $1,800,000 rsir.com Web ID #WKTEG8
MADISON PARK - SOLD $1,865,000
MADISON PARK - SOLD $2,280,000 $
WINTRHOP $3,500,000 rsir.com Web ID #S873JP
MT. BAKER - SOLD WINTHROP $3,500,000 $1,595,000 rsir.com Web ID #S873JP
Our global real estate network is pleased to welcome our fifth regional branch office in the heart of Madison Park. Proudly representing all property types and price points, our resident experts live and work in the greater Seattle communities they serve. Our brokers have recently helped establish new benchmark values, representing both the buyers and sellers. Whether your next address is around the corner or around the world, we can help.
Meet your global real estate advisors:
BONI BUSCEMI
JOHN MADRID
LAURA HALLIDAY
CARRIE DEBUYS
206.259.0012
206.498.1880
206.399.5842
206.551.0555
EVENTS YOU WON’T WANT TO MISS Upcoming Event
HOADY SPENCER
206.372.1092
C I NDY PAUR
PETER PHILLIPS
LESLIE DICKINSON
206.949.4497
206.949.3555
206.200.2174
4031 East Madison Street | Visit RSIR.com or call 206.466.2409
Upcoming Event
Park House Paws
CHILDREN’S FILM FESTIVAL
SEATTLE BOAT SHOW
JANUARY PARK HOUSE PUP | MEET ELLIE
The Children’s Film Festival comes to Seattle January 25th to February 10th. The next generation of movie lovers will enjoy over 170 movies, live performances, features, shorts, and hands-on workshops.
Explore the world of boating at the Seattle Boat Show, spanning nine days and three acres at CenturyLink Field, South Lake Union, and an all-new location at Bell Harbor Marina, from January 26th through February 3rd, 2018.
We are excited to introduce you to Ellie, our January Park House Pup! Ellie loves her morning walks and visiting us for a treat. Stop by our office and introduce us to your four-legged family member and maybe we’ll feature them next month!
Each office is Independently owned and operated.
RSIR.COM
Seller reserves the right to change product offering without notice.
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January 2018
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THERESA & PETER TRUEX 206.972.7768
•
206.972.4424
TRUEXREALESTATE.COM
Thank you! IS IT TIME FOR YOU TO SELL OR BUY A HOME? CONTACT THERESA OR PETER TRUEX.
As we reflect on the most successful year of business in our company’s history, we are truly grateful and would like to thank our exceptional clients for putting their trust in us to represent their best interests. Wishing everyone a joyous holiday season and may the coming year be filled with peace and prosperity for all. Cheers, The GBK family
206.322.8940 W W W. G B K . CO M
TEAM TRUEX MADISON PARK REAL ESTATE
M A D I S O N PA R K R E A L E S TAT E
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January 2018
Chris Sudore
“ As a Madison Park Resident, I care about your home’s value.”
My team helped nearly 50 families buy and sell a home in 2017. We would like to sincerely thank our clients, family, friends and community for your trust and continued support. If you are planning on making a move in the new year, please let me know how we can help you maximize your real estate investments.
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Your Home Here in 2018! SOLD
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Chris Sudore – Your Specialist In:
SOLD
Madison Park • Washington Park • Broadmoor Denny Blaine • Capitol Hill
Chris@KingCountyEstates.com 206-799-2244 www.KingCountyEstates.com
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January 2018
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