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    David Bell's Real Estate Blog

    Stay tuned to David's blog for updates on the Seattle Real Estate market, as well as other information from David's experience as a Seattle Realtor.

    Radio Segments

    David regularly appears on the Brashenomics Radio Show Wednesdays at 3pm on 1150 KKNW and occasionally on other radio shows around the region. Click here to view his previous radio appearances.

    Monday
    Dec142015

    Seattle Condos on the Rise

    According to a recent Zillow survey, Seattle condominiums are appreciating faster than single-family homes. With the market crash of 2007, condos in all around the U.S. took a hard hit, losing an average of one third of their value. Now they are making a long-awaited comeback.


    Condominums are Booming

    Based on statistics from the Northwest Multiple Listing Service (NWMLS), single-family homes had an 8 percent price increase over this year (2015), compared to a 23 percent for condominiums. In many neighborhoods within the city, condos also saw a much higher appreciation rates.


    In Southeast Seattle (Columbia City, Rainier Valley, Seward Park) prices increased by 55 percent, and by 45 percent in both Beacon Hill and the Ballard/Green Lake/Phinney Ridge area. In Downtown and Belltown, which compromises Seattle’s most expensive market, prices for condos rose by 34 percent over the year to a median of $539,000, and Queen Anne condo prices are the highest in a decade.


    Why Condominums Are a Great Fit for Seattle Homeowners

    Seattle’s expensive single-family market is making the condo market be a lot more attractive than in past years, especially for first- time home buyers. In the real estate market, condos have been known for being more affordable and easy up-keep. They also provide the urban lifestyle that many young professionals are attracted to and look for when they search for a new home.

    Svenja Gudell, Zillow’s Chief Economist, said in the survey summary that, “Over the past few years, buying a condo hasn’t always been considered an investment on par with buying a single-family home. Clearly, the most recent data indicate that notion may be due for a second look.”
     

    Contact David Bell to Find Your Next Condominium

    Whether you are in the market for a new home, condo, apartment or even for an investment property, David Bell at Seattle’s Best Real Estate is alway here to help you. As one of the top real estate agents in Seattle, he can answer any of your questions and address any concerns. Finding the perfect place is not easy, so feel free to call at any time or visit David’s listing and begin your new home search.

    Wednesday
    Dec022015

    A Seller's Market

    Seattle’s real estate is one of the hottest in the country. With home price growth at about 11 percent and home sales at almost 13 percent, the area’s economic growth shows no signs of abatement. If you live in Seattle or have visited, you understand why the market is so strong.


    A recent Redfin report shows how hard it can be to buy a home in the area. The real estate agency found that the Northwest city has the lowest inventory of homes for sale that has ever been recorded. This means that it’s a seller’s market, a fact that can be attributed to the following factors:

     

    • Foreign investment: Because Seattle has grown into a major international city, more and more foreign investors will look to buy real estate here.

    • Tech industry: Amazon and other tech industries are growing everyday. This brings more and more home buyers into the area.

    Whatever the reason for the situation, you will need an experienced real estate agent who knows Seattle like the back of their hand. Feel free to give David Bell with any questions regarding Seattle real estate. (206) 283-9100.

     

    Wednesday
    Nov042015

    Redmond, WA: Fun Town Charm, Big City Fun

    We’re proud to announce the sale of this beautiful custom home in Redmond, WA.

    The lucky buyer can now enjoy four bedrooms, three baths, and maple wood floors inside a spectacularly designed custom built Chaffey home on scenic Elm Tree Lane. Best of all, they’ll be living in one of the best neighborhoods in the wonderful city of Redmond.

     

    Are you looking for a home in the Redmond area? If so, you’ll find our current listings here. If you’re trying to decide if the city is right for you, read on to learn some more about this unique Washington city.

    About Redmond

    Redmond is just east of Seattle. With a population of only about 50,000, it’s a small city but with plenty of big city activities, both indoor and out. And with Seattle just a few miles away, residents can experience everything that a major metropolitan city has to offer. The city is bordered by Sammamish, Bellevue, and Kirkland. Its downtown is near Lake Sammamish and intersected by the Sammamish River. The entire area is known for its beautiful forests.

    Redmond also features over one thousand acres of public parks, including Marymoor Park, which includes an expansive off-leash area for dogs. Redmond, though, is probably best known as the home to both Microsoft and Nintendo of America and several other notable tech companies. As such, Redmond’s job market is thriving.

    Outdoor Activities

    Redmond is known for its natural beauty and abundance of outdoor activities. It’s heaven for cyclist enthusiasts; the city has several annual bike races, tons of bike paths, and Washington’s only velodomeIf you are a wine enthusiast, you’ll love the numerous nearby wineries. The city also puts on outdoor movies and concerts every summer. And you’ll be able to stock up on locally grown fresh fruits and vegetables at the Saturday Farmer’s Market.


    For a full schedule of events in Redmond, check out this calendarIf you have any more questions about Redmond or the Seattle area’s real estate market, give David Bell a call at (206) 283-9100.

     

    Friday
    Apr052013

    Is 2013 going to be a good year for Real Estate in Seattle/Bellevue?

    The national housing market had some bad news at the end of 2012 and some good news however for 2013.  The Commerce Department reported that home sales fell 7.3% in December 2012 from November 2012.  But housing analysts who looked past the headlines see a lot of reasons for optimism in some more positive long-range trends for 2013 and 2014.
    “The market is 52% as strong as it was prior to the 2008 crash,” according to a housing index created by online real estate marketplace Trulia.  For it’s monthly Housing Barometer, Trulia crunches three indicators: U S Census construction data, National Realtors Association existing home sales, and the delinquency and foreclosure t=rates from mortgage-data firm Lender Processing Services.  And while 52% is a bad score on an exam, 52% is the highest score the real estate market has seen since the real estate boom.
    Economics Professor Mark Perry of the University of Michigan-Flint said: “There are almost no housing indicators showing weakness.  Construction starts hit a 54-month high in December 2012, reaching 954,000 on an annualized rate, a 37% jump over last year.  U S existing sales rose more than 9% to 4.65 million in 2012, their highest annual level in 5 years.  And the combined delinquency and foreclosure rate is at its lowest level in 4 years, according to LPS.”
    Chief economist, David Crowe, for the National Association of Home Builders (NAHB) says: “People are also remodeling their homes with renewed vigor, suggesting homeowners believe that house prices will continue to raise.”  Earlier in the week the NAHB said it’s Remodeling Market Index reached 55 in the final quarter of 2012, the highest reading since 2004.  Any reading over 50 shows that remodeling is growing.
    Seattle’s Real Estate Market is right in line with the national trends and in some area well ahead of the trends.  Inventory is very low on both sides of the lake.  Looking at Seattle’s (core Seattle neighborhoods), numbers right now, today, there are a total of 773 homes and condos that are currently active, 944 homes and condos are Pending, and 496 that closed in the last 30 days.  On the Eastside as of today there are 1141 Active Listings, 1469 Pendings, and 613 properties that have closed in the last 30 days.
    That’s a very strong market in Seattle and the Eastside.  Although the total numbers of sales are still about 15% below where there were in 2007, we are in a very strong sellers market right now.  Springtime historically is when we see most sellers putting their homes on the market however and over the next few months we should see a little more inventory but most likely not at the level that will balance out the market.  Lenders are still pretty stingy with who they give loans to but the number of qualified buyers increased by about 15% from 2011 to 2012, and buyers are gaining more confidence that the real estate market in Seattle has stabilized and prices have started to increase.  Prices in the greater Seattle Real Estate Market increased by about 5% in 2012, but most of that increased was felt in the second half of the year.   We could see another 10% increase in home prices by the end of 2013.

    The national housing market had some bad news at the end of 2012 and some good news however for 2013.  The Commerce Department reported that home sales fell 7.3% in December 2012 from November 2012.  But housing analysts who looked past the headlines see a lot of reasons for optimism in some more positive long-range trends for 2013 and 2014.“The market is 52% as strong as it was prior to the 2008 crash,” according to a housing index created by online real estate marketplace Trulia.  For it’s monthly Housing Barometer, Trulia crunches three indicators: U S Census construction data, National Realtors Association existing home sales, and the delinquency and foreclosure t=rates from mortgage-data firm Lender Processing Services.  And while 52% is a bad score on an exam, 52% is the highest score the real estate market has seen since the real estate boom.Economics Professor Mark Perry of the University of Michigan-Flint said: “There are almost no housing indicators showing weakness.  Construction starts hit a 54-month high in December 2012, reaching 954,000 on an annualized rate, a 37% jump over last year.  U S existing sales rose more than 9% to 4.65 million in 2012, their highest annual level in 5 years.  And the combined delinquency and foreclosure rate is at its lowest level in 4 years, according to LPS.”Chief economist, David Crowe, for the National Association of Home Builders (NAHB) says: “People are also remodeling their homes with renewed vigor, suggesting homeowners believe that house prices will continue to raise.”  Earlier in the week the NAHB said it’s Remodeling Market Index reached 55 in the final quarter of 2012, the highest reading since 2004.  Any reading over 50 shows that remodeling is growing.Seattle’s Real Estate Market is right in line with the national trends and in some area well ahead of the trends.  Inventory is very low on both sides of the lake.  Looking at Seattle’s (core Seattle neighborhoods), numbers right now, today, there are a total of 773 homes and condos that are currently active, 944 homes and condos are Pending, and 496 that closed in the last 30 days.  On the Eastside as of today there are 1141 Active Listings, 1469 Pendings, and 613 properties that have closed in the last 30 days.That’s a very strong market in Seattle and the Eastside.  Although the total numbers of sales are still about 15% below where there were in 2007, we are in a very strong sellers market right now.  Springtime historically is when we see most sellers putting their homes on the market however and over the next few months we should see a little more inventory but most likely not at the level that will balance out the market.  Lenders are still pretty stingy with who they give loans to but the number of qualified buyers increased by about 15% from 2011 to 2012, and buyers are gaining more confidence that the real estate market in Seattle has stabilized and prices have started to increase.  Prices in the greater Seattle Real Estate Market increased by about 5% in 2012, but most of that increased was felt in the second half of the year.   We could see another 10% increase in home prices by the end of 2013.

    Thursday
    Mar282013

    My approach to selling real estate in Seattle.

    As a native in Seattle, and selling real estate for over 22 years, I feel being a neighborhood expert is one of my strengths as an agent. In this video I shot as part of a promotion with KOMO News for the Magnolia neighborhood, I outline my approach to real estate and also why I feel it's important for real estate agents to be honest and forthcoming with their clients. The core philosopy of my business is to give my clients the best service possible, that's why I've named my business "Seattle's Best Real Estate."

    I'd like to help you with your next real estate transaction. Please contact me with any questions you may have.