REAL ESTATE KIRKLAND
SEPTEMBER 2011
Your guide to Real Estate and home buying & selling
Just ask Scott and Amber, of Home Builders/Wells level of affordability, alongfirst time home buyers in Fargo Housing Opportuside historically low interest their late 20’s, nity Index (HOI) rates, has not translated who were able to indicates that in into as many national sales recently purchase today’s market “72.6 as the industry would like a single fampercent of all new to see. ily home in Rose and existing homes Lawrence Yun, NAR Hill. “We had sold in the second chief economist, said there been wanting quarter of the year is still a tug and pull on the to own a home were affordable to market. “Affordability confor the last few families earning the ditions this year have been years but we just the most favorDebbie Walter national meweren’t able to able on record Realtor - RE/MAX NW dian income “There are smaller make our budget of $64,200.” markets that see an dating back to work. When we There are even higher rate of 1970, but many sat down with our Realsmaller markets that affordability, such buyers are betor and Lender it became see an even higher ing held back as Kokomo, Ind., crystal clear that we could rate of affordability, because banks where 95.8 percent actually make this happen such as Kokomo, are offering of homes sold because of these crazy low Ind., where 95.8 financing to during the second interest rates and prices percent of homes only the most quarter of 2011 having come down even sold during the highly qualiwere affordable ... ” fied borrowers, more from two years ago!” second quarter of The fact is: when it 2011 were affordable See graph on page 10 ignoring a large comes to home affordabilto families earning share of otherity, levels are at near record the area median income of wise creditworthy buyers,” generational highs. $59,100. he said. The National Association Unfortunately, this high Yun continues, “Those
potential buyers represent the difference between an uneven recovery and a much more robust housing market that could stimulate additional economic activity and create jobs.” The NAR reports that the national median existinghome price was $174,000 in July, down 4.4 percent from July 2010. Distressed homes still made up nearly 1/3 of the market, at 29 percent. Fortunately, for Kirkland home owners, the median sales price in August was $475,000, with 51 homes sold (the highest sale being a $2.3million dollar home on Holmes Point). This is in comparison to last August 2010, where the Kirkland median sales price was $480,000 with 47 homes sold (the highest sale being a $1.6million dollar
transaction costs of buying and selling a home, you may end up losing money if you sell any sooner - even in a rising market. Consider this purchase a 5-year hold. 2. Start by shoring up your credit. Since you most likely [ more REAL ESTATE page 10 ]
Clive Egdes 206-251-1680
Windermere Real Estate/Central, Inc.
Clive@Windermere.com www.Kirklandhomelistings.com
Specializing in Kirkland Properties.
“Exceptional Service, Extraordinary Results” 521111
Is Real Estate REALLY All That Affordable?
home on 3rd St S). So what to do next? Consider these Top 7 Tips for Home Ownership: 1. Don’t buy if you can’t stay put. If you can’t commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the
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Debbie Walter, Realtor Cell: 206.930.8699 Debbie@DebbieWalter.com www.DebbieWalter.com
Top Floor, End Unit Kirkland Condo Lifestyle & Location in one great place! Top-Floor End-Unit Condo-wonderful southern exposure to enjoy a private Greenbelt View-not looking at other buildings. Craftsman details & open Floor plan. Cherry pergo @ entry & kit, Granite, Cherry tone cabinets, Stainless Steel Apps, Full Size Washer & Dryer, Pantry. Bedrooms separated w/own baths. Fireplace, extra Storage, Big Private BBQ Deck, 2 Reserved Parking. Yr-round indoor Hot Tub + Pool & Clubhouse. Great association. $158,815
• Kirkland Resident for over 25 years. • 11+ years of Full Time Real Estate Service! • Very Patient with 1st Time Buyers, and Short Sale Sellers • Relocation, Investors, 1031 Exchanges • Short Sales, Foreclosures, Bank Owned
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521225
11250 Kirkland Way, Ste 200 • Kirkland, WA 98033
Nearly 2 acres of tranquility. Circular driveway, covered front porch, and hardwood floors greet you at this wonderful home w/4 large bedrooms & 2.50 baths. Gorgeous fresh remodel w/ slab granite & travertine, brand new S.S. chef’s appliances, new carpet & pad, painted in & out! Newer Alside windows w/trans warranty, R-40 & R- 50 insulation, gas forced central air. Amazing out buildings + barn perfect for cars, craftsman, or equestrian. Shops are wired 220, 1 is 24 x 30 insulated, heat, cable. 2nd is 24 x 36, double doors, 1-1/2 ton truss + 6” concrete floor. Huge deck and hot tub. 1 year Home Warranty for new owner. $629,750
RE/MAX Northwest