Queen Anne Real Estate - May 2016

Serving Queen Anne & Magnolia since 1919

& 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

JULY 13th

Advertising deadline July 1

AUGUST 10th

Advertising deadline July 29

SEPTEMBER 14th

Advertising deadline September 2

OCTOBER 12th

Advertising deadline September 30

NOVEMBER 9th

Advertising deadline October 28

DECEMBER 14

th

Advertising deadline December 2

Contact Tammy to Advertise at 206.461.1322 or email ppcadmanager@nwlink.com

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

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