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& Home & Real Estate QueenAnne Magnolia & news Advice to sellers in a multiple QueenAnne&Magnolia offer situation news QueenAnne
Magnolia news
Queenannenews.com
MAY 11, 2016
Vol. 97, No. 19
Thinking Of Selling Your Home When Expedia Moves In?
Ken Graff
COLDWELL BANKER BAIN
M
any sellers in Queen Anne and Magnolia are receiving multiple offers after listing their homes for sale. Bidding wars have pushed sales prices ever higher and this seller’s market should continue into 2017. This is obviously great for sellers but there are a few things sellers should discuss with their brokers as it relates to multiple offers. In order to win a bidding war, some buyers instruct their broker to submit an offer waiving the right to order a professional home inspection. Doing so could give this buyer a leg up on competing offers. If the terms of two competing offers are relatively similar, but one has a contingency giving a buyer an out, and the competing offer does not have this contingency, many sellers prefer the offer that does not have the inspection contingency. This thinking makes sense. The offer without the contingency is more likely to close as the buyer has one less opportunity to back out of the deal without penalty. But what happens if a structural issue comes to light after
the transaction closes? As a seller you want a clean break from the buyer. If a problem comes up after closing, and the buyer had the opportunity to do an inspection of the property, there is less chance the buyer could successfully come after the seller for damages after closing. Therefore, it could be argued that the strongest offers actually contain a condition allowing buyers to investigate the property and neighborhood. When problems are discovered by
buyers prior to closing, sellers still have leverage to negotiate the repair; it’s cost, and the quality of the work to be done. They can consider how the issue affects their decision to sell and how the cost of a repair could be shared or assumed by a buyer eager to purchase the property anyway. Some sellers order a professional inspection of their property and provide the inspection report to potential buyers. In this scenario, some buyers will use the inspection report provided by the seller, and not order their own inspection nor attach an inspection contingency to their offer. This can be an effective strategy if carefully handled, but is not without risk. There could be a similar issue if the seller’s inspector misses something that comes to light after closing, and the buyer wasn’t given the option to order their own inspection.
➧ OFFERS, Page 2
QUEEN ANNE & MAGNOLIA NEWS REAL ESTATE SECTION SCHEDULE 2016 JUNE 8th Advertising deadline May 27
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The Smart Employees Are Already Here Buying Now!! Many of the 3,000+ employees who currently live on the eastside are wanting to purchase now and close in the spring so they can move before they move into their temporary offices on Elliott Ave this summer. Queen Anne and Magnolia’s housing inventory is at an all-time low while home values are at an all-time high!
Dave Reith
Call Today! 206.947.6800
Broker/Windermere Real Estate FineSeattleHomes.com davereith@windermere.com
206.947.6800
OVER 27 YEARS OF EXCEPTIONAL REAL ESTATE SERVICES
Moving 101:
Simple Solutions to Streamline Your Move
W
hether it’s your first move or your tenth, the process can be overwhelming. In fact, in a recent survey, commissioned by Duck brand, conducted online by Harris Poll, over half of Americans (56 percent) say packing to move is extremely/very stressful. Some easy ideas can help you pack and unpack like a pro. • Purge before Packing: Before loading boxes, get rid of items you haven’t used in a year or more. Make piles to sell, donate or toss. Sell valuable pieces online or to a consignment store, and donate other items in good condition to charity -- some organizations even pick things up at your home. • Tap into Apps: Nearly half of Americans (48 percent) describe their moving style as “organized chaos” -- stating they have it all under control, even though it may not look like it. To help you truly organize the chaos, download a free app like Move Advisor or MyMove to create moving day checklists and timelines. • Be Picture Perfect: Create a catalogue of photos before you move. Snap pictures of how your furniture was arranged, favorite knick-knacks were displayed and complex electronics were installed to make set-up easier in your new place. • Box it Up: Over one quarter of Americans (26 percent) say finding enough boxes is frustrating when packing to move. While many are searching the local grocer or a friend’s basement for containers to reuse, it’s better to use new boxes, as secondhand boxes have often lost their strength. New, sturdy boxes, like those from Duck brand, are easy to find and available in a variety of sizes and levels of durability. Then, seal your boxes with a strong packaging tape, such as EZ Start packaging tape. It won’t split or tear, and features “Frustration Free” special release technology, so you never lose the tape end. • Disassemble a Day Ahead: Taking apart large furniture is time-consuming. Disassemble items before moving day, so your crew isn’t bogged down unbolting beds. Keep screws and other small parts together in sandwich bags taped to the furniture to which it belongs. ➧MOVING 101, Page 4
2
May 11, 2016 | www.QueenAnneNews.com
Queen Anne Home Sales for April 2016 Address 2219 14th Ave W #101
Bed
Bath
Sq Ft
Year Built
Days on Mkt
Asking Price
1
1
600
1978
101
$245,000
$240,000
97.96%
2000
80
219,950
$240,000
109.12%
123 Queen Anne Ave N #403 2244 13th Ave W #307
1 1
500 Elliott Ave W #405
Multiple offers advice continued... ➧ OFFERS, from Page 1
Another common practice for buyers to give themselves a competitive edge is to do their own pre-inspection. They have an inspection done before submitting an offer, and then attach the inspection contingency form with their offer indicating the home was pre-inspected, but making closing not subject to further inspection. This certainly provides a greater chance of the clean break than if no inspection was done by the buyer, but is not without its own potential issues. Multiple inspections could cause wear and tear or damage to a property and it could be impossible to determine which inspector was responsible for the damage. Multiple sewer scope cameras entering our aging sewers can actually damage the line. Also, potential buyers could be discouraged from placing an offer if they know preinspections are being done and they are not willing to do so. I see both sides as I also represent buyers who want to win the bidding wars, and of course my sellers want to sell their homes at top price. I recommend to my clients that we discuss all issues so that they can make informed decisions. There are several other issues I discuss with sellers I represent in multiple
offer situations such as the pros and cons of allowing buyers and their brokers to present their offer in person to the seller (I am generally for it.) I discuss with them best practices for reviewing the offers, (but that is a whole ‘nother article). I also discuss with them things to look out for in offers that could increase the likelihood of the transaction to fail. Sellers don’t want just the highest offer; they want the highest offer that has the best terms which enable the transaction to close with few issues. The various forms and contingencies available are there for a reason. They serve to protect the interests of all parties. And while it is tempting, and often profitable, to limit their use, doing so carries varying degrees of risk. Each individual case is different and should be discussed with an experienced REALTOR®. We do not make these decisions, that is up to our clients. But sellers must consider the risks and rewards of the decisions they make with respect to multiple offer situations. Ken Graff is a native Seattle REALTOR® named to Coldwell Banker Bain’s International President’s Circle for his exemplary record of success.
CUSTOM PUBLISHING & PRINTING
Business and neighborhood newsletters, community event publications, advertising flyers, coupon books, direct-mail advertising programs to fit your businesses Call Robert at 206.461.1347 for more info PacificPublishingCompany.com
Sold Price
Sold Price/ Asking Price
1
590
1990
71
$225,000
$242,000
107.56%
1
422
2000
70
$249,000
$249,000
100.00%
612 Prospect St #202
1
1
679
1968
81
$250,000
$255,000
102.00%
3609 14th Ave W #204
1
1
718
1978
61
$239,950
$262,000
109.19%
330 W Olympic Place #303
1
1
515
1957
231
$280,000
$265,000
94.64%
124 Warren Ave N #204
1
1
540
1930
61
$262,950
$266,000
101.16%
2219 14th Ave W #304
1
1
735
1978
41
$265,000
$275,000
103.77%
124 Warren Ave N #202
1
1
571
1930
61
$275,000
$297,000
108.00%
901 5th Ave N #203
1
1
610
1965
301
$299,950
$299,950
100.00%
530 W Olympic Place #304
1
1
610
1949
41
$303,000
$303,000
100.00%
3626 14th Ave W #202
2
1
718
1978
2
$299,950
$310,000
103.35%
530 W Olympic Place #102
1
1
591
1949
81
$320,000
$322,465
100.77%
330 W Olympic Place #205
1
1
638
1957
161
$349,950
$346,000
98.87%
133 Queen Anne Ave N #603
1
1
635
2003
71
$317,995
$375,000
117.93%
810 Taylor Ave N #227
1
1
696
1978
71
$359,000
$382,450
106.53%
501 Roy St #207
1
1
625
2007
81
$368,000
$386,600
105.05%
810 Taylor Ave N #120
1
1
763
1978
31
$379,888
$390,000
102.66%
1214 Taylor Ave N #402
2
1
877
1966
72
$374,500
$400,000
106.81%
3622 14th Ave W #301
2
2
1,030
1990
52
$365,000
$420,000
115.07%
501 Roy St #C340
1
1
689
2007
71
$415,000
$420,000
101.20%
1700 Dexter Ave N
2
1.75
1,260
1943
12
$419,000
$430,000
102.63%
914 6th Ave N #302
2
1.5
975
1968
82
$399,900
$440,000
110.03%
2040 Waverly Place N #105
2
1.5
967
1990
162
$465,000
$465,000
100.00%
201 Galer St #343
1
1
865
1908
151
$472,500
$475,000
100.53%
2100 3rd Ave #2305
2
1.75
1,323
1973
372
$525,000
$480,000
91.43%
467 Newton St #404
2
1
777
1990
82
$425,000
$501,000
117.88%
801 2nd Ave N #104
2
1.75
955
1994
132
$477,500
$503,000
105.34%
802 Newton St #301
2
1
950
1983
62
$449,950
$504,700
112.17%
511 W Mercer Place #404
2
2
1,181
2003
82
$547,000
$551,000
100.73%
2040 Waverly Place N #202
2
2
1,038
1990
52
$550,000
$555,000
100.91%
201 Galer St #341
1
1
882
1908
41
$535,000
$572,200
106.95%
1768 Aurora Ave N #301
2
2
1,304
1992
32
$585,000
$615,000
105.13%
2541 Mayfair Ave N
5
2
1,840
1946
495
$675,000
$623,225
92.33%
912 W Howe St
2
1.25
1,392
2016
442
$679,950
$679,950
100.00%
719 W Wheeler St
3
2.5
1,360
1910
293
$699,000
$690,000
98.71%
1807 11th Ave W
2
1
2,100
1905
222
$795,000
$741,500
93.27%
916 W Howe St
3
2.25
1,706
2016
543
$779,950
$769,000
98.60%
355 Howe St
3
1.75
2,160
1929
43
$775,000
$775,000
100.00%
560 Ward St #B
3
1.75
1,363
2008
103
$799,950
$830,000
103.76%
2400 Aurora Ave N #209
2
2.25
2,065
1987
52
$830,000
$830,000
100.00%
2119 6th Ave W
3
2
2,000
1905
53
$850,000
$837,500
98.53%
2627 Warren Ave N #200
3
2
1,932
1910
93
$840,000
$840,000
100.00%
22 W Lee St #303
2
2
1,623
2005
72
$899,000
$901,000
100.22%
906 3rd Ave N #A
2
2.25
1,716
2015
2042
$950,000
$925,000
97.37%
1906 10th Ave W
5
3
3,070
1914
65
$949,500
$930,000
97.95%
507 B W Olympic Place
2
2.5
2,060
2007
232
$999,000
$950,000
95.10%
906 3rd Ave N #B
2
2.25
1,962
2015
1832
$1,025,000
$960,000
93.66%
4 W Raye St
4
2.5
2,320
1926
84
$879,000
$974,500
110.86%
2137 B 10th Ave West
4
3
2,012
2016
74
$1,039,000
$1,039,000
100.00%
3259 13th Ave W
3
3
2,710
1911
73
$1,195,000
$1,100,000
92.05%
1000 5th Ave N
3
3
2,254
2015
723
$1,295,000
$1,240,000
95.75%
341 W Olympic Place #3
2
2.5
1,763
1991
82
$1,025,000
$1,250,000
121.95%
2901 1st Ave N
4
3.25
2,270
1924
84
$1,145,000
$1,260,000
110.04%
2205 Warren Ave N
5
2.5
3,650
1913
65
$1,095,000
$1,435,000
131.05%
8 W Lee St
2
2.5
2,235
2006
52
$1,300,000
$1,500,000
115.38%
350 Galer St
3
2.25
2,900
2016
183
$1,650,000
$1,650,000
100.00%
1704 3rd Ave N
4
3
3,370
1905
104
$1,795,000
$1,775,000
98.89%
300 W Kinnear Place
5
5.5
6,796
1923
2625
$2,399,000
$2,275,000
94.83%
153 Ward St
4
3
3,500
2016
584
$2,350,000
$2,300,000
97.87%
162 Highland Dr
4
3.25
4,500
1979
34
$2,400,000
$2,500,000
104.17%
Magnolia Home Sales for April 2016 Address
Bed
Bath
Sq Ft
Year Built
Days on Mkt
Asking Price
3710 27th Place W #204
1
1
680
1968
82
$178,000
Sold Price $162,225
Sold Price/ Asking Price 91.14%
3045 20th Ave W ##305
1
1
510
1988
3
$215,000
$215,000
100.00%
2200 Thorndyke Ave W #406
1
446
1988
11
$229,900
$229,000
99.61%
2200 Thorndyke Ave W #406
1
446
1988
2
$229,900
$229,000
99.61%
3710 26th Place W #B-8
1
0.75
815
1974
7
$239,500
$300,000
125.26%
3505 W Government Wy #206
1
1
825
1976
9
$269,950
$313,000
115.95%
4316 36th Ave W #A
2
1.5
1,220
2004
6
$485,000
$515,000
106.19%
3400 25th Ave W #403
3
2.5
1,722
1969
6
$525,000
$545,000
103.81%
2721 W Jameson St
2
2.25
1,170
2006
6
$465,000
$551,000
118.49%
3250 A 21st Ave W
3
2.25
1,400
2016
26
$599,950
$600,000
100.01%
3252 B 21st Ave W
3
2.25
1,386
2016
0
$615,950
$615,950
100.00%
3252 A 21st Ave W
3
2.25
1,400
2016
29
$619,950
$619,950
100.00%
3252 C 21st Ave W
3
2.25
1,400
2016
0
$619,950
$619,950
100.00%
3643 35th Ave W
4
1.5
1,720
1961
24
$698,000
$620,000
88.83%
4233 28th Ave W
3
1
1,460
1947
6
$555,000
$630,000
113.51%
2628 23rd Ave W
3
2.25
1,690
1994
9
$599,950
$645,000
107.51%
3438 23rd Ave W #C
3
2.25
1,613
2013
10
$642,000
$655,000
102.02%
4304 36th Ave W #C
3
2.5
1,630
2009
6
$625,000
$656,200
104.99%
3302 W Dravus St
2
1.75
1,860
1951
5
$679,000
$679,000
100.00%
3602 23rd Ave W
4
1.75
1,880
1944
13
$588,880
$685,000
116.32%
2807 35th Ave W
3
1.5
1,618
1942
7
$598,500
$727,000
121.47%
4578 36th Ave W
3
3
1,930
1987
8
$575,000
$735,000
127.83%
3654 35th Ave W
3
2.25
2,181
1908
26
$769,000
$759,000
98.70%
4433 Brygger Dr W
4
2.5
2,300
1992
92
$799,000
$769,000
96.25%
2826 25th Ave W
4
2.5
3,270
1966
16
$879,000
$840,000
95.56%
4416 Montana Cir W
3
2.5
1,976
1900
0
$879,000
$900,000
102.39%
4406 Montana Cir
3
2.5
1,994
1935
0
$949,000
$949,000
100.00%
2849 W Viewmont Wy W
4
1.75
3,260
1939
35
$1,100,000
$1,100,000
100.00%
3234 22nd Ave W
3
2.5
3,371
2015
3
$1,133,200
$1,133,200
100.00%
4415 Montana Cir W
3
2.5
1,995
1902
8
$1,099,000
$1,200,000
109.19%
1901 34th Ave W
4
3.25
3,170
1951
40
$1,400,000
$1,365,000
97.50%
3047 43rd Ave W
3
2.25
2,653
2010
126
$2,080,000
$1,980,000
95.19%
INTERESTED IN WRITING or ADVERTISING IN THE REAL ESTATE SECTION? CONTACT TAMMY AT 206.461.1322 or PPCADMANAGER@NWLINK.COM
3
www.QueenAnneNews.com | May 11, 2016
Check out our other Seattle newspapers with Real Estate Sections! Madison Park, Leschi, Madison Valley and Madrona
North Seattle: Wallingford, Greenlake, and More!
How to Make Your Dream Home a Reality
S
pring is peak homebuying season, but for some, a low credit score may make it difficult for their dream home to become a reality. Nearly a third of millennials (ages 18 to 34) hope to purchase a home within the next year, but more than 40 percent may not have the credit to do so, according to a survey from TransUnion, a leading credit bureau. In contrast, the survey found older people’s intent to purchase a home better aligns with their financial standing. For example, 17 percent of those ages 35 to 54 said they plan to buy a home within the next year -the same percent that has a super prime credit score -- an attractive trait for mortgage lenders. As you start house hunting this spring, what markets are heating up? The Northeast is a hot market, according to TransUnion findings, with 25 percent of respondents indicating intent to purchase a home in the region. The West was a close second, with 24 percent, followed by the South with 21 percent and 15 percent of people in the Midwest.
It’s best to check your report three months before you start looking at new homes to make sure your score is in a healthy range. • Start planning early: Your credit score is built over a lifetime of spending. Keep an eye on your score and track how your spending habits affect it. • Build credit: Consumers with low or no credit should take steps to build a healthy credit score. How? Paying bills on time, making sure you’re keeping a low credit utilization ratio (the amount of credit you’re using out of your available credit), and even asking your landlord to report rent payments to a credit bureau such as TransUnion are all ways you can build credit.
• Shop around: Research mortgages and interest rates to receive a competitive offer. Your credit score is of the utmost importance since lenders will check your score and report to make sure you will be able to responsible pay back the mortgage loan.
More home-buying tips can be found at www.transunion. com. Happy hunting! (Statepoint)
Contact Tammy at 206-461-1322 or PPCAdManager@ nwlink.com
• Make a financial plan: Putting down a larger down payment will lower your monthly mortgage payment, but don’t put down more than you can afford. Also keep in mind that you will need funds for closing costs, including a home inspection, before you can purchase your home. • Keep an open mind: It may take time to build credit and save enough money for a down payment. Even if your finances aren’t in shape
I’ve been an advisor, counselor, mentor, friend & resource for my clients since 1977.
If you’re planning to purchase a home this year, TransUnion offers several important tips to consider to help make your dream home a reality: • Check your credit report: Applying for a mortgage? Mortgage lenders will look at your credit score and report when you apply for a mortgage, so make sure your information is up to date.
for a home now, it doesn’t mean homeownership isn’t a realistic possibility for the future.
If you have listings in these markets or wish to advertise in these publications
Give me a call and put my experience on your side. Eileen Quackenbush
LOOKI NG TO A DV ERTI S E?
YOUR AD HERE CON TACT ADVER TI S I N G AT P P C A D M A N AG E R @N W L IN K OR 2 0 6 . 4 6 1 .1 3 2 2 TO ADVER TI S E
Broker Agent/Realtor & Magnolia Resident Cell: 206-300-3071 • Office: 206-284-8989 • www.EileenQuackenbush.com
Windermere Real Estate/ Wall St. Inc.
4
May 11, 2016 | www.QueenAnneNews.com
Serving Seattle for 34 Years! Computer Aided Kitchen and Bath Design Available
Pack & unpack like a pro ➧ MOVING, from Page 1
Ballard/Crown Hill Location: 8055 15th Ave NW
206-789-3205 www.morgansonline.com
• Wrap with Care: It’s no surprise that one third of Americans (34 percent) say worrying about items breaking is the most frustrating part when packing to move. Wrap fragile belongings with a reputable cushioning material, like Bubble Wrap cushioning. Dish and glass kits also provide pouches and dividers to protect delicate goods. • Learn to Love Labeling: Avoid having to answer, “Where does this go?” by clearly labeling each box on the sides, so you’ll be able to see its destination when boxes are stacked. Or, color-code them using colored
duct tape. Duck Tape brand offers hundreds of colors. • Moving Day Must-Haves: Clearly mark one box with immediate essentials, such as tools to re-assemble furniture; plates and utensils for feeding your moving crew; toiletries; and clothes for your first night. And, don’t forget to prepare for inclement weather -- have plastic runners on hand to cover floors if rain strikes, plus towels to wipe up wet spots. With prep and planning, you’ll complete your move in no time, so you can relax and experience life’s next adventure in your new home. (Statepoint)
PROVEN RESULTS
A
s a Founding Member of Realogics Sotheby’s International Realty’s new Madison Park branch office, The “Park House”, I am proud to offer my clientele and neighbors alike an extraordinary level of service and expertise,
international exposure and innovative marketing endeavors. As a long-standing resident of Broadmoor/Madison Park with over two decades of experience, I look forward to continuing my legacy as a trusted advocate for my clientele in Seattle’s preeminent neighborhoods. With the heritage of a trusted global brand, Park House represents the extraordinary, one client at a time.
Managing Broker | Senior Global Real Estate Advisor 206.399.5842 | Laura.Halliday@rsir.com
NEW ON MARKET
View the 2015 Year End Market Report at LauraHalliday.com
Working with Laura Halliday was a real pleasure! She represents on all levels with the utmost professionalism! She is up on what is happening in the current market. Her style is warm, open, honest, clear and direct. Which helps all parties on all levels of communication and understanding!
1 9 24
$1,150,000 | Queen Anne - From the boxwood hedges to the elegant entry, this 1924 bungalow draws curb appeal from the days of Count Basie and Ella Fitzgerald, when people would sit on their front porch watching the world go by and waving hello to the neighbors as the stars came out. The home brings an English sensibility to mind; while keeping a very practical approach to the place where life happens every day, you should always be wearing your best pearl earrings. MLS #908272 | 4 Bedrooms | 2 Bathrooms | 2,440 Square Feet
RSIR ranks amongst the largest, most productive and fastest-growing real estate companies in Washington with access to 18,000 brokers in 61 countries that generate US sales of $80 billion+ annually.
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