Bellevue Condo Market Data

Earlier this month I shared 2017 King County real estate market statistics supplied by the Northwest Multiple Listing Service. Median sales prices overall were up 15% county-wide (houses and condos) over 2016. Taking a closer look, here are the 2017 Bellevue condo market statistics:

  • 759 condos sold in 2017 (resale and new construction) up from 746 in 2016 for a 2% increase
  • The median Bellevue condo sales price was $500,500 in 2017, up 30% over 2016
  • Ending 2017 there was less than a 1 month supply of inventory (a 4-6 month supply is considered a balanced or normal market)

Just eight weeks into the new year stats haven’t changed much. Currently there are just 20 condos available for sale in of Bellevue. Newly listed condos are trickling into the market but selling quickly. So far this year 61 resale condos (vs. new construction pre-sale units) have sold with an average market time of 15 days. Sales prices this year are averaging 5.5% over the list price. Continue reading

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Investment Property – Time to Sell?

rent sign

flickr/Mark Moz

Interest in area rentals remains strong, but there has been a noticeable slight decline in area rents so far this year Even in high demand urban areas, rents have dipped slightly.  With thousands of new apartments recently completed, or nearing completion, and hundreds more under construction, rental supply may have begun to outpace demand.

If you own an investment property, you’ll likely find more competition the next time you negotiate a lease renewal. Hundreds of new apartments are available offering modern finishes, new appliances, high tech features and a long list of community amenities and services. Tenants may not be as quick to accept a rent increase or even a lease renewal when, for the same or less money, or attractive lease-signing incentives, they can move into newer digs. Continue reading

Bellevue Holiday Events

 

Bellevue Botanical Gardens - Robin-Myers

flickr/Sean O’Neill

There are many holiday activities in and around downtown Bellevue this month. There’s still time to put some of these events on your “to do” list and make these events part of your holiday tradition.

Nightly at 7:00 PM Bellevue Way is closed between NE 4th and NE 8th Streets for Snowflake Lane featuring drummers, dancers, holiday characters and a parade complete with snow every night. Arrive early – sidewalks on both sides of the street fill up quickly. Kids of all ages will love the event. (http://www.snowflakelane.com) Continue reading

Bellevue’s Parks

Bellevue Downtown Park canal 8-2017I moved to Bellevue 30 years ago and have lived downtown for the past ten years. I love living here and one of the things I love most are the beautiful and diverse parks throughout the city. I’m lucky enough to live within walking distance of ten parks which I visit frequently with my two pups. Did you know . . .

  • Bellevue has 2,700 acres of parks and open space with 80+ miles of multi-use trails
  • 45 parks have playgrounds
  • 6 waterfront parks have seasonal lifeguards
  • 17 parks have reservable picnic areas
  • 16 have tennis courts and six have pickleball courts (3 indoor and 3 outdoor)
  • Bellevue has an aquatic center, a tennis center and two golf courses (Bellevue Golf Course and the Crossroads Par 3 golf course)
  • Kelsey Creek Farm is home to ponies, sheep, goats, chickens, pigs and more

There are nearly 100 city maintained parks. The Dowtown Park, the city’s crown jewel, recently reopened after a one year closure for a major upgrade. The park is a 21 acre oasis in the heart of downtown Bellevue offering views of Mt. Rainier and the downtown skyline. A 1/2 mile groomed promenade circles a canal which is bordered by trees and dozens of benches and a 240’waterfall. The expanded Inspiration Playground provides innovative play space for children of all ages and abilities plus a fun water play space which was very popular this summer. Continue reading

Downtown Park Celebration

Downtown Park fountain 6-2015Today is the grand opening celebration for Bellevue’s Downtown Park. Closed for the past year to complete a major renovation, the park will open just in time for the July 4th celebration and fireworks.

For nearly 30 years the popular park has existed with an incomplete circular promenade and canal. During the last year work has been completed to create a grand entryway, water feature and terraced seating at the south end of the park, enhanced lighting and landscaping throughout the park and a new Inspiration Playground designed for children of all ages and abilities which was made possible through a partnership with the Rotary Club of Bellevue.

Events include a ribbon-cutting with city officials, live music, including the Seahawks Blue Thunder band, food trucks and more. Free parking is available at Bellevue High School with shuttle service to and from the park.

Its going to be a beautiful afternoon. Get out and enjoy the park.

Bellevue Farmers Market

A sure sign of spring – this Thursday, May 18th, is opening day for the Bellevue Farmers Market. Back at its familiar location, vendors will be setting up in the parking lot of Bellevue Presbyterian Church (1717 Bellevue Way NE just north of downtown) with ample parking available. The market will be open every Thursday from 3:00 PM to 7:00 PM, rain or shine, from May 18th through October 12th. (Pets are not permitted except service animals.)

 

 

WRE color logo jpg
Windermere Real Estate
A proud sponsor of the Bellevue Farmers Market since 2004.

 

 

 

Selling in a Hot Market

cleaning

flickr/sgrace

Yes, its a seller’s market, but if you’re planning to sell your home, don’t think you can forego the typical prep work associated with getting your home ready to show to buyers. This is the time of year more homes are listed for sale, and more inventory brings more competition. With more to choose from buyers may not be willing to pay top dollar for a dirty, dated or poorly maintained home.

There are easy, inexpensive tasks a homeowner can complete in a weekend or two that make a big difference.

  • CLEAN (and clean again) – pay special attention to the kitchen and baths.
  • DE-CLUTTER – remove clutter in closets, cabinets, drawers and garages. “Martha Stewart” your house and show off the storage space.
  • PAINT – If a room or hallway is looking tired a fresh coat of paint is inexpensive and makes a big difference.
  • MAKE A GOOD FIRST IMPRESSION – Curb appeal is huge. The saying “you only get one chance to make a good first impression” is true in any market. Paint the entry door (if the HOA permits), install a new kick plate, toss tired winter plants and put fresh flowers and mulch in entry pots or gardens.
  • LET THE SUN SHINE IN – open window treatments, remove or replace tired drapes or blinds. Clean the windows – maximize your home’s natural light.

Some work will require professional help but its worth the investment. Have the furnace and A/C serviced. If other systems, appliances or fixtures need repair get it scheduled.

Multiple offers are common and many homes are selling quickly and for more than list price, but that doesn’t mean a free pass for neglecting repairs or cleaning. A home should be delivered to the new owner in clean and good condition.

It takes considerable time and energy to get a home ready to sell, but the payoff (return on investment) is worth the effort. I specialize in condos. I know what’s been happening in your neighborhood and your home’s market value. When its time to sell let’s talk . . . I have information and referrals for cleaners, contractors, landscapers, resources for donating or disposal and can help you maximize your return on investment.