Summer Edition - Bryan Loveless & Associates Magazine

BRYAN LOVELESS & ASSOCIATES Summer Edition - 2022-

Happy Summer (finally)!

As I write this article in mid-July 2022, I am actually seeing sunshine brightening up the emerald green hills and surface of Lake Washington. Given the cold and wet Spring, it is indeed a welcome sight!

Recent tumultuous times have not been limited to weather. In thinking about the past few years, it has truly been unlike any other time (at least during my lifetime). The global pandemic, coupled with the war in Ukraine, general global unrest, and even the political divide in our country have all contributed to currently volatile financial markets and unprecedented events.

As of this writing, the historic bull market in the stock/financial markets has been readjusting for the past 6 months, with many people’s portfolios down 25% or more during that time.

Coupled with a rapid rise in interest rates (just under 3% one year ago, the 30 year fixed rate is now sitting at about 5% today), the local real estate market, which has been on a historic run over the past few years and amongst the best real estate markets in the country, is finally showing signs of slowing down. This news is not necessarily a bad thing long term, as the recent frenzied market was simply not sustainable.

Median closed sale prices in Kirkland, Kenmore, Lake Forest Park, Shoreline and NE Seattle rose 33% from July 2021 to April 2022 ($1.025M to $1.368M). After a huge available housing inventory shortage over the past 2 years, available listing inventory has recently been dramatically increasing and is up about 20%+ in King County this year. Recent weeks have seen fewer cases of multiple offers, increasing market times with the median closed sale prices dropping from $1.368M in April of 2022 to $1.15M in June of 2022 in Kirkland, Kenmore, Lake Forest Park, Shoreline and NE Seattle – a drop of nearly 16%!

On North Lake Washington (from the South end of Kirkland to Husky Stadium) there are currently seven active listings and they range from $1.65M-$32.5M! There are 2 pending listings ranging from $6.980M-$8.88M, and eleven closed sales in the last six months between $2.975M-$12.5M. Given the lack of available affordable waterfront inventory, it remains a great time to sell a Lake Washington waterfront home!

How long this cooling trend will continue is anyone’s guess, but I believe the long-term outlook remains extremely positive. What was once a Boeing dependent local economy has diversified significantly, with the major driver of the economy now the tech industry.

This bodes well for our local economic future as tech is an industry unlikely to contract long-term. With other issues (like climate change) the Puget Sound region appears to be positioned to thrive comparative to other regions of the country.

No matter how you look at it, I believe we remain truly blessed to live in this wonderful place – and while it doesn’t get much better than July through September here, it is a pretty incredible place to call home at any time of the year (albeit a little gray and misty at times)!

I wish you all a wonderful summer season enjoying all that this area has to offer!

Bryan

Bryan Loveless 425.968.8181 BryanLoveless@Windermere.com

LOVELESS REAL ESTATE

Lake 181 & 185 Sammamish E Lake Sammamish Estate Pkwy SE Magnificent signature west-facing waterfront estate comprising two waterfront parcels totaling 146 feet of no-bank beachfront on Lake Sammamish. Tasteful, curated homes in a truly idyllic setting with a 5,093 square foot 3 Bedroom, 3.5 Bath main home originally built in 1991 on the north lot, and an 1,100 square foot 1 Bedroom, 1.75 Bath guest house built in 2012. Carefully crafted main home includes wonderful chef’s island kitchen with custom cabinets and Viking and SubZero appliances, generous amounts of custom millwork, hardwood floors, natural stone and designer tile. Elegant guest house has quality fixtures and finishes including a Wolf stove and NanaWall system opening to entertaining areas for seamless indoor outdoor living. Lush, level, arboretum-like grounds include mature plantings, wonderful privacy, multiple patios and fabulous stone outdoor entertaining area with large custom fireplace perfect for gazing at rose colored sunsets over the Lake while enjoying your favorite beverage. Rare, beautiful expansive beachfront and two docks with excellent deep water moorage to enjoy the best that summer has to offer! Amazing A+ mid-lake location with each home at the end of a quiet dead-end lane for ultimate privacy.

The total amount of property in this offering is 23,436 square feet (.54 acre) with two garages with workshop/ storage spaces and enclosed parking up to 5 cars – perfect for all of the necessary waterfront toys! Two docks with boat lifts, huge beach and extensive westerly lake and sunset views – a rare and special property. Don’t miss this opportunity to live the good life at one of the finest ownerships on Lake Sammamish!

Offered at | $11,000,000 MLS | 1931235 Main House also available for individual purchase $7,000,000 | MLS 1951751

STYLES

Architecture ture

HAMPTONS

Known worldwide, the Hamptons is a popular vacation destination for locals and tourists alike. In addition to the posh beach lifestyle, the Hamptons is known for it’s unique and sophisticated architectural styles. Commonly defined as polished and classic as well as casual and relaxed, these homes are known to be light filled and airy with tons of windows to maximize natural light with accents of marble and plush furnishings throughout. Striking exterior features include stately columns, ox-eye windows, and large balconies in hues of soft greys and pale whites.

MODERN LODGE

Often constructed from local materials for aesthetic and utility purposes, lodge-style homes typically blend architectural lines and natural materials to match the surrounding environment. Natural elements such as wood fiber, stone, and as well as natural fabrics and weathered metals, are used extensively to create a rustic charm or mountain-living feel. Inviting interiors feature exposed wood, stone fireplaces, and neutral tone furnishings like linen throw pillows, and jute or sisal rugs.

MEDITERRANEAN Red tile roofs, stucco exteriors, and ornate archways are hallmarks of the Mediterranean-style. Heavily influenced by Spain, Italy, France, Greece, Portugal and Morocco, this architectural style is one of the most popular across the United States. Generally defined as simple, spacious, and convenient with romantic aesthetics, these homes are known for their light warm tones, substantial use of natural materials such as clay, tile, wrought iron, and cotton, and indoor-outdoor living spaces.

MODERN LUXURY

With their sleek and sophisticated designs, modern-style homes push the envelope with innovative architecture emphasizing sustainable materials and smart features. Common elements include sharp angles, clean lines, floor-to-ceiling windows, and seamless indoor-outdoor living spaces. Minimalistic interiors are driven by simplicity and function often including strong geometric shapes, bold artwork, and a neutral colored furnishings.

West of 1010 Market 6th St W Hamptons Retreat Kirkland Timeless, exquisite Hampton’s style Dutch Colonial in the perfect West of Market location just a few steps to Waverly Beach Park. Originally designed by noted Puget Sound architect Frank Tichy, recently renovated to the highest standard by exceptional craftsmen, this 3,471 square foot residence will appeal to the most discerning buyer. Amazing epicurean kitchen with professional grade appliances, high-end custom cabinetry, Carrera marble and charming built-in breakfast nook. Curated custom fixtures and finishes in this 3 bedroom, 4.5 bath home includes a stunning showpiece primary bath with intricate and artistic custom marble tile, wide planked hardwood floors, incredible millwork and second stairway to a charming private guest suite. Light-filled and open living room with custom built-in wet bar and French doors to expansive ipe deck and nice Westerly views of Lake Washington and the Seattle skyline. Impeccable grounds include a captivating brick enclosed patio and yard off both the family and dining rooms, lush mature landscaping, and great privacy – perfect for elegant garden parties or quiet relaxation. This is your chance to enjoy life in the Eastside’s best walking neighborhood just a few blocks to waterfront parks & vibrant downtown Kirkland with quality and graceful charm at every turn in this one-of-a-kind work of art!

Sold at | $4,500,000 MLS | 1948048

Travel & Leisure

Locally in Washington

Semiahmoo Resor t - Blaine Seen above and below is the well-known Semiahmoo Resort, Golf & Spa. The perfect Pacific Northwest getaway with remarkable waterfront views and gorgeous scenery. A tremendous amount of amenities and activities available for all guests, including a spa, tennis, pools, and the Semiahmoo Golf & Country Club with a driving range, putting and chipping greens and practice bunkers. The large resort theater is open to private rentals upon request. Between paddle boarding, bike rides or roasting s’mores by the bonfire, Semiahmoo is a place to ensure a memorable vacation.

Inn at Abeja - Walla Walla The Inn at Abeja is known for its impeccable hospitality and gourmet breakfasts & dining while you stay in completely refurbished farm cottages that transport you to a historic farmstead. Enjoy the vistas of Walla Walla Valley, gardens & vineyards as you drink their world class Cabernet Sauvignon. Experience the property’s history and modern comforts of a wine country retreat. Located in peaceful Walla Walla, this paradise includes some of the finest wines, food and atmosphere you will find in Washington.

Posthotel - Leavenwor th Located along the Wenatchee River with breathtaking mountain views in the heart of downtown Leavenworth, the Posthotel is designed for ultimate relaxation featuring the finest of European spa techniques used in massage, body treatment & personalized facials. Calming lounge, saunas and soothing saltwater pools offer a revitalizing experience and allow for guests to unwind while enjoying the surrounding views. Leavenworth, a Bavarian-styled village in the Cascade Mountains is designed with Alpine-style buildings and restaurants that specialize in German food and beer, among other things. The village serves as a gateway to nearby ski areas and wineries making the Posthotel a convenient place to stay.

Champagne 11037 Champagne Point Point Rd NE Waterfront Kirkland Artistic, beautiful southwest facing Lake Washington waterfront gated estate located near the end of quiet, coveted Champagne Point Road. One of a kind 3,876 square foot 4 bedroom, 3.5 bath main home originally built in 1931, and carefully rebuilt including a chef’s island kitchen with custom cabinets, and stainless appliances including Wolf and SubZero appliances. Signature custom fabricated circular staircase, multiple entertaining spaces, and unique quality finishes throughout. The magnificent gated, 20,203 square foot (.46 acre) arboretum-like grounds include a rare waterfront detached 3 car garage with a 737 square foot guest house above, lush mature plantings, towering evergreens and Hendrikus designed landscape features including a beautiful tranquil water garden. Enjoy fabulous summer barbeques or unwind with your favorite beverages on the expansive decks and whimsical Gaudi inspired custom patio with gas fire pit.

Approximately 85 feet of prime lakefront including a large dock with deep water moorage, boat lift, Hobie Cat ramp and beach. Sought after Champagne Point is in the Holmes Point area and includes 600+ acres of protected forests and waterfront parks just 8 minutes to historic Inglewood Golf Club & 15 minutes to vibrant downtown Kirkland. Top rated Lake Washington Schools including Sandburg Elementary.

Huge southwest vistas down the wide part of Lake Washington include city lights, the Olympic Mountains, rose colored sunsets, & amazing maritime performances – don’t miss this rare opportunity to live the waterfront dream in a truly exceptional estate!

Offered at | $7,650,000 MLS | 1955152

Vintage Storybook Cottage 6331 NE 124th Ct, Kirkland

Br yan Lovele Listed At | $400,000 | MLS #1952645

Listed at | $1,662,500 | MLS #1952653

ess Listings Kenmore Building Site

63XX NE 198th St, Kenmore

PATIO & GARDEN GET READY FOR SUMMER

GARDEN STYLES TO IMPROVE YOUR BACKYARD Practicing mindfulness while attending to your home garden is becoming more common in 2022. Native plants can be a great addition to your garden as they provide benefits for regional birds, insects, and other wildlife. As we become more thoughtful of our roles on the planet, we can implement ways to reduce waste such as growing an edible garden of vegetables & herbs. Not only is it helpful to the planet it’s also convenient & delicious!

PATIO DESIGN IDEAS TO ENTERTAIN GUESTS The current popularity of outdoor living spaces is only going to continue on into 2022. Even during the winter season, outdoor areas can be great for entertaining. Fitting outdoor living spaces for year-round use calls for a huge demand for outdoor fireplaces and fire pits, and can be supplemented with hot drinks and warm blankets. Another trend expected to continue this year is the creation of seamless transitions between indoor and outdoor spaces. To create a flow between the two areas try using similar flooring and fabrics as well as installing Nana Walls to make the spaces feel like one room.

A multi-purpose area on a deck or patio can maximize the usage of your backyard. Whether for outdoor cooking or simply hanging out. Decorate your patio or deck with outdoor rugs, colorful pillows, chandeliers or Edison-style string lights. Use vertical spaces to introduce greenery like potted or wall plants. This brightens up an area and makes it feel like a lush oasis and is great way to include color & style. Hot tubs, outdoor kitchens and fire pits can bring your entertainment spaces to the next level.

Holmes 6614 Point NE 129th PL Curated Elegance Kirkland Located at the top of a quiet lane in sought after Holmes Point is this absolutely stunning 4 bedroom, 2.75 bath Northwest contemporary featuring a recent full professional renovation by renowned Joe Myers Construction.

Carefully curated elegance throughout including a spectacular chef’s kitchen with double waterfall island, entire refrigerator/freezer/wine cooler wall, double Bosch dishwashers, Thermador/Jenn air/Wolf, designer lighting, and matching walk-in pantry - all with custom cabinetry and quartz counters. All baths have full designer tile walls, floors, tub/shower surrounds including spa-inspired primary 5-piece bath with curbless walk-in shower including dual shower heads plus flush ceiling rain shower and Toto toilet. Quality fixtures and finishes include extensive amounts of new 5” oak hardwoods with custom color and finish, amazing custom lighting, and dramatic new stacked stone gas fireplace. Light-filled rooms, soaring ceilings, large entertaining decks and patios, new modern garage doors, epoxy garage floor and whole house air conditioning. Half acre park-like setting backs to forested green belt and includes an amazing detached extra hobbyist garage with unfinished upper studio space perfect for guest apartment, expansive detached home office or artist studio. One of the quietest spots in all of Kirkland adjoining 600+ acres of protected forests and trails, and just a few blocks from waterfront parks, community boat launch and Lake Washington. Just a few minutes to amazing St Edwards State Park and iconic Inglewood Golf Club - don’t miss this chance to live the dream!

Pending at | $2,240,000 MLS | 1939246

LOVELESS REAL ESTATE

Bryan Loveless 425.968.8181 BryanLoveless@Windermere.com BryanLovelessRealEstate.com 11411 NE 124th St, Ste 182 Kirkland WA 98034