5 Popular Luxury Amenities

With the exception of Infinity pools, these amenties can actually be incorporated into most homes.  In addition to being fun and useful, they can add value when you go to sell.  I often see many of these amenties in Lake Washington and Mercer Island luxury homes.  Read more: 5 Popular Luxury Amenities

GET TO KNOW THE FIRST HILL COMMUNITY ON MERCER ISLAND

By Ken Urman, Realtor®

This post is the second in a series offering insights into the unique characteristics of specific neighborhoods on Mercer Island and communities surrounding Lake Washington, including Parkwood, Tarywood, Woodridge, Judkins Park and Newcastle.

Mercer Island

Mercer Island, WA is located on the South end of Lake Washington, just East of Seattle. The I-90 floating bridge and freeway connects the island's North end to Seattle and the Eastside.

Mercer Island is home to a large number of waterfront homes on Lake Washington, with a speedy commute to the major hubs of Greater Seattle, but a secluded, small-town feel at home. The island is approximately six miles long and 2 miles wide, with 22,699 residents and some of the states' best schools. On a list of the most exclusive areas of the U.S, Mercer Island recently ranked number 18.

First Hill

A ridge known as First Hill separates East Seattle from “the North End,” as the northwest part of Mercer Island. First Hill’s eastern boundary is the opposite East Ridge, or 84^th Street. The two ridges enclose an area Serena Cove’s northern waterfront to the Lucas Hill to the south, at 40^th Street. The First Hill neighborhood is located south of I-90, separating East Seattle from the north end of the island. The area covers 0.168 square miles.

The early history of First Hill land development is documented in the first Mercer Island plats of McGilvra and Mercer Park. Today, First Hill is home to 483 people. The population density of this area is lower than that of Mercer Island, as a whole. The population density of First hill is 2,879 people per square mile (Mercer Island density is 3,452 people per square mile). Median household income for this community was $96,983 in 2009 (Mercer Island was $117,231).

First Hill is one of the neighborhoods containing the “lid” (the covered area of I-90, which is part of Mercer Island). A park built atop the “Lid” covering the freeway includes large vent stacks that help move air out of the I-90 tunnel. The stacks look awkward and out of place, and most people are unaware of their real purpose. The Park on the Lid, a Park & Ride, and the I-90 bike path all are accessible on the north side of First Hill.

First Hill Park, at SE 32^nd Street and 72^nd Avenue SE, is a small neighborhood park that includes an elaborate play structure, including a tree house with a slide, t-ball, basketball, and a picnic table.

First Hill is a popular walking and biking neighborhood. It offers some of the most scenic views on Mercer Island. Throughout First Hill are pathways, stairs, and trails that lead to the lakefront, parks, and the downtown business district.

The homes of First Hill were built between the 1940's and the 1960's. Over time, developers have purchased some of the older homes and replaced them with new upper-end homes. Homes recently sold in First Hill were priced  between $480,000 and $1,525,000.

First Hill has become a very desirable residential neighborhood, primarily due to its easy access to I-90 and a quick commute to Seattle.  

If you are looking for a home in First Hill, or you would simply like to learn more about the community, please give me a call at 206-230-0833 or 206-499-4948.

 

Fiscal Cliff: What’s at Stake for Real Estate

The fiscal cliff concerns me for many reasons.  From the perspective of Real Estate here's a good summary of how it will affect everyone.  It's critical that Washington get together to prevent the fall.  Read more:  Fiscal Cliff: What’s at Stake for Real Estate

Get to Know the Island Point Community

This post is the first in a series offering insights into the unique characteristics of specific neighborhoods on Mercer Island and surrounding Lake Washington, including Dawn Vista, Tarrywood, Sammamish, Orcas Island, Issaquah, and Pine Lake.

Mercer Island

Mercer Island, WA is located in the South end of Lake Washington, just East of Seattle. The I-90 floating bridge and freeway connects the island's North end to Seattle and the Eastside.

Mercer Island is home to a large number of waterfront homes on Lake Washington, with a speedy commute to the major hubs of Greater Seattle, but a secluded, small-town feel at home. The island is approximately six miles long and 2 miles wide, with 22,699 residents and some of the state's best schools. Mercer Island has recently been ranked number 18 in the top twenty of the most exclusive areas of the U.S.

Island Point/Island Point Community

Island Point, on the southernmost tip of Mercer Island, is composed of five streets: Lewis Lane, SE 80th, SE 82nd, 84th Ave SE, and SE 83rd St, all of which create a circular type of neighborhood. It is unique in that there is only one way to drive in and out of the community. However, several walking paths allow access to Island Point. 

About 20 years ago, a couple of residents decided to give Island Point its own identity. While there is no formal Home Owners Association, residents do collect contributions annually for the upkeep of Island Point. There are traditions that still occur today such as progressive dinners throughout the year, a 4th of July neighborhood parade, and voluntary care of Triangle Park. This neighborhood stays informed through email.

Several important and famous people reside in this community. Lakeridge Elementary, one of three public elementary schools on the island, is a short distance from Island Point, directly accessible via public walking trail.

Island Point is a special area on Mercer Island where some homes have spectacular views of Lake Washington, Mount Rainer, and surrounding areas. This community comes together to educate and support each other. It has a connected feel, where families know each other, children grow up together, and pets are known by name.

There are 30 or more unique communities on Mercer Island. Most share many of the same characteristics and features as Island Point. Watch for the next Lake Washington community featured.


Ken Urman is a full-time Realtor(R) with more than 20 years experience, and is ranked among the top performers in his profession. He lives on Mercer Island, WA, and serves Mercer Island and the communities around Lake Washington. Buyers and sellers benefit from the power of his experience, professionalism, and perseverance in achieving their real estate goals. Learn why Ken is a better choice for your real estate needs at www.kenurman.com.

Sell Now or Wait for a Real Housing Recovery?

Strong consideration for choosing to sell now........Home sellers who are concerned that their home’s value has not rebounded sufficiently to justify a sale should remember that the home they plan to purchase may also be offered at a discount from past years. The perceived loss from a sale could be recouped in a shrewd purchase. Perfect conditions rarely exist. But, for many, today’s housing market may be just about as perfect as they’ll find. 
Sell Now or Wait for a Real Housing Recovery?

Successful Short Sale Newcastle, WA

I listed, facilitated and negotiated a very difficult short sale for this home in the Olympus area of Newcastle, Washington.  The home had four liens on title that needed to be cleared prior to selling.  Each lien required coordinated and separate negotiations with every lien holder. Using all my business and real estate skills I carefully worked through each lien.  We recently closed...buyer and seller were fully satisfied.  I am very proud of what I was able to do.......I definitely have the skill, experience and contacts to handle most any short sale. Please contact me if you'd like more details or would like to discuss short sales.

7 Smart Strategies for Bathroom Remodeling

I am currently remodeling a bathroom in my Mercer Island home. I've employed these strategies. They make sense and help make critical decisions.

Shower stall after demo

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  7 Smart Strategies for Bathroom Remodeling

  Here’s how to get the bathroom of your dreams without making your budget a nightmare. Read

Visit houselogic.com for more articles like this.

Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®

Seattle 7th best market in the U.S. for investment, development and homebuilding.

In its latest outlook on real estate, the Urban Land Institute (ULI) pegged Seattle as the 7th best market in the U.S. for investment, development and homebuilding.
Seattle, which was listed among "cool places" with 24-hour characteristics for echo boomers and "veritable wealth-island magnets for investors" in last year's report, was singled out in the latest edition for its walkability and good quality of living. Its diversified new age corporate base, also drew favorable comments. more

The Seattle area has a lot going for it now.......vibrant and hip with many tech workers coming from all over to live and work here. Cities or Seattle, Bellevue, Mercer Island and Issaquah are magnets for new arrivals. With low interest rates what an awesome time to invest in Real Estate.

6 Ways to Sell Your Home This Fall

Given the improving market and low inventory, I strongly believe that these days Fall & Winter can be a good time to sell. Here are some terrific tips to help make your home shine.

BOSTON (TheStreet) -- Fall is second only to spring as the busiest time of the year for home sales -- and Idaho Realtor Gail Hartnett sees this autumn as an especially good time to have your property on the market. more

Buyers want functionality! Their busy hectic lives require a house that supports that life style. For example; smaller back yards that are easy to maintain and add more entertainment space is a good example. Without a doubt a kitchen integrated into the family space is one of the best changes to come along. I see evidence everyday of these new housing trends. Please ask me about these trends, I know firsthand how they can affect the sell-ability of your home.

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  (New!)

  What’s the Hottest New Remodeling Trend?

  A new survey says showy upgrades are out and functionality is in with today’s remodeling home owners. Read

Visit houselogic.com for more articles like this.

Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®

Falling Foreclosures Pushing Up Home Prices

I can definitely confirm this is what I am seeing in our local market.

Falling Foreclosures Pushing Up Home Prices

Energy Savings not as obvious as we may think!

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  Are You Looking for Energy Savings in All the Wrong Places?

  Ack! Our energy costs are going up because too many of us are making the wrong judgment calls about how to save energy. Here’s why we’re having a disconnect. Read

Visit houselogic.com for more articles like this.

Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®

Sellers, Agents Mostly Agree on Top Home Improvement Projects

Sellers, Agents Mostly Agree on Top Home Improvement Projects

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  7 Hot Home Improvement Trends that Make Your Home Work for You

  Home improvement trends embrace energy efficiency, low maintenance exteriors, and double-duty space. Read

Visit houselogic.com for more articles like this.

Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®

Are These Home Projects Really Worth It?

Are These Home Projects Really Worth It?
I strongly agree with this list.......these are often projects that have little or no ROI.  Garages especially.....I often see in the Seattle area garage additions that negatively affect the value of the home.  Nothing like a massive garage/shop building to take away from a homes curb appeal.

4 Kitchen Design Trends Cooking Up in 2012

I've seen great examples of this ...it's a terrific approach to kitchen design.  A way to have personal expression and avoid a kitchen that looks like so many others. 

Unmatched cabinets: Cabinet colors and materials are being mixed, such as darker colors for the base cabinets and lighter colors being used for upper cabinets to “provide a sense of openness,” according to the blog.

4 Kitchen Design Trends Cooking Up in 2012

Prevent Short Sale Delays, Double-Check Paperwork

This is why buyers and sellers involved in short sales need to use an agent like me.  As a Distressed Property Expert (CDPE) with a great deal of direct experience, I know how to process the paper work. Knowing how is critical to getting a short sale done.


Prevent Short Sale Delays, Double-Check Paperwork

Agents Exploit ‘Pinball’ Listings to Sell Houses

In a competitive market like Mercer Island this could occur.  Experienced full time agents will see through this tactic and can help buyers and sellers avoid this pitfall.

Agents Exploit ‘Pinball’ Listings to Sell Houses

Trim Your Remodeling Costs: 4 Ways to Save

Trim Your Remodeling Costs: 4 Ways to Save

Spring is Here!.....7 Gardening Mistakes to Avoid

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  7 Gardening Mistakes to Avoid

  Even veteran gardeners make rookie mistakes, like giving plants too much water and too little space. Here are common garden blunders. Consider yourself warned. Read

Visit houselogic.com for more articles like this.

Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®

Think Before You Remodel—Tips to Consider Before Changing Your Home

Our market tends to be very competitive. Home owners should remember that when you sell, buyers will be looking at numerous houses. Make yours stand out with a smart, long-lasting remodel, rather than a trendy or too-personal renovation.
1. Always update first. You don’t have to live in a mansion to make your home more desirable on the real estate market. If your home is smaller or older and you’re thinking about a renovation, choose a project that helps update it. For example, replace carpet with new wood flooring, or dated appliances, opting for modern, stainless steel. If your home feels cramped or dark in any areas, consider remodeling to open rooms or add windows. New, energy efficient windows or water-saving systems, are always a great addition. They save you money now, and are a desirable feature to any future buyer.
2. The kitchen is key. One of the most important rooms in a home is the kitchen. It is no longer just the place where meals are made. The kitchen is the hub of the home, and often the room that most strongly attracts or repels potential buyers. The kitchen is the first room that should be considered for a remodel. Guests often congregate at an island or a counter while the hosts cooks the meal. So an open, inviting space is important. As mentioned above, modern appliances, fresh flooring and plenty of light are important elements of a well-used and attractive kitchen.
3. Is the remodel too personal? Are you an avid reader who wants to add wall-to-wall built-in shelves to an extra room to create your own library? Is your garage an ode to the hardware store, complete with benches, cabinets permanent workspaces? While it might seem great to completely customize certain parts of your home, if you plan to sell in the future, think twice. While you may think the library is a good idea, the next homeowner might not agree, wishing they had that empty room for another use. When it comes to anything permanent, keep it simple. Add your own personal flair with removable items, such as bookshelves that can moved to your next home.
4. Don’t overdo the Master Suite. Everyone deserves a place to escape, relax and unwind. But when you start to go over the costs of creating your own slice of heaven, you might find it hard to do any of the above. A luxurious, remodeled master suite might seem like a great selling point (and it probably is), but don’t count on recovering the invested sums from your home’s buyer. According to an article published last month in the Seattle Times, a top-of-the-line master suite addition that adds square footage and uses top-dollar materials can cost upwards of $200,000. For this amount, sellers can only expect to recover about 52.7 percent of the invested sum at resale, resulting in a hefty hit to the wallet.
5. The office is now anywhere. If you’ve walked into a busy coffee shop on any given weekday, chances are you’ve seen the forest of laptops accompanying the double lattes. Working from home no longer means that you actually have to be at home. With smart phones and laptops, professionals can work from virtually anywhere, meaning that a home office is less necessary. According to the Seattle Times article, home office renovations recouped the lowest percentage rate of invested money at resale. Nationally, home office renovations cost an average of $28,888, and only recouped 45.8 percent. If you do need a home office, again, keep things simple. Don’t make any permanent structural changes to the room. This allows the next owner flexibility to use it as they see fit.

Even if you aren’t planning on selling for a long time, it is always smart to think ahead and make choices that will have a positive impact should you decide to move in the future. When considering a remodel, Realtors like myself are willing to provide information and suggestions to help you make the good choices.

- Ken Urman, Ewing and Clark East, Mercer Island

Positive Real Estate News

2012 is beginning with positive news for the housing market. According to national statistics, existing-home sales are on the rise (pending sales rose 8% from January 2011 to January 2012). For the Pacific Northwest region, and more specifically Mercer Island, this is a positive sign as larger and more luxurious homes will benefit from move-up buyers.

According to an article published last month in Realtor Mag, existing-home sales rose 4.3 percent in January, marking the third gain for sales in the four months prior. The National Association of Realtors (NAR) reported that in 2007 unsold listed property had risen to a record high of 4.04 million. Since then, it has declined, and currently sits at 20.6% below where it was last year. This signals that the gap between buyers and sellers on the market is starting to even out. People are actually buying homes and keeping them longer.

NAR also reported last month that despite the appearance that buyers are downsizing or choosing smaller living spaces, there is a distinct group of buyers who are choosing larger, more upscale homes with more bedrooms, more amenities and additions that may have before seemed superfluous, such as finished basements, outdoor entertainment spaces and multiple-car garages. In other words, the types of homes commonly found on Mercer Island. The Seattle P.I. even reported http://goo.gl/SCbrc that in 2011 there was a rise of waterfront home sales on the island (30 homes total), and that 18 of them were multi-million dollar sales.

It must be acknowledged that the people buying such homes are financially stable and admittedly a small percentage of the population. However, for Mercer Island sellers there is a double advantage—not only are property values rising, but a new demand for larger homes with upscale amenities gives them the ability to better control their asking price.

Ken Urman, Realtor, Ewing and Clark East, Mercer Island

Mercer Island Waterfront Homes Continue Strong 2-Year Trend: Average Waterfront Real Estate Sales Up 200%

Another positive indicator for Mercer Island and Seattle area Real Estate market.  Sales of waterfront homes on Mercer Island were some of the first to come back after the doldrums of 2008 and 2009. Following an anemic year of just 11 waterfront home sales in 2009, the sales totals have nearly tripled in the past two years.

While 2011′s sales of 30 Mercer island waterfront homes was a 6.25% drop compared to the 32 sales in 2010, to say this was a disappointment would be incorrect. 2010 was a banner year for Mercer Island, considering the current economic and real estate landscape. Waterfront sales here were at standout levels compared to the greater market. The fact that waterfront home sales in 2011 continued to keep pace with the blockbuster 2010 sales is another testament to the staying power of waterfront homes values in Mercer Island.
Of the 30 waterfront homes sold in Mercer Island last year, 25 were priced over $1 million and 18 were multi-million dollar homes. The NWMLS labels homes in the center of Mercer Island on man-made lakes as “waterfront”, and these homes are the lowest-priced sales in the $800k-$900k range. Most homes that are actually on Lake Washington waterfront are priced significantly over $ 1 million.

Preparing to put your Home on the Market

Spring is coming and the Real Estate Market is improving, it’s a great time to put your house on the market. The "to-do" list for selling a home can seem endless and it’s easy to overlook small things that can have a big impact on a potential buyer’s impression of a home.

These tips are geared towards getting your home sold faster at the highest possible price. Below, I’ve listed my ten important tips to think about when preparing to sell your home.

1. Clean and De-Clutter: No one wants to see a cluttered house. Even if you’ve only lived in your current home for a short while, it is amazing the amount of "stuff" you can accumulate. Clear away all knickknacks, unwanted books off the shelves, and get all of the kids’ toys out of sight. You want potential buyers to be able to envision their stuff in the home, so the less of yours they see, the better. Use the "One Year" Rule: if you haven’t used it in over a year, you probably don’t need it.

2. Don’t forget the Yard: Curb appeal is very important. It’s understandable that getting the inside of the house ready for showing can take up a lot of time. Your house should be welcoming, clean and attractive from the outside as well. Store yard art and make sure the lawn is mowed, the hedges are trimmed, and add a little color with flowers or shrubs.

3. A Welcoming Entry: To make guests and potential buyers feel welcome, make sure the front door area is clean and painted (if it is wood) and that all bulbs in light fixtures are working. Avoid wreaths, banners and signs that might not appeal to everyone’s taste, and instead try neutral terra cotta pots with flowers or greenery for a classic, inviting touch.

4. Arranging the Rooms: One of the things people note when they are looking at a room is the amount of space in each room. Arranging furniture so that rooms appear open with a natural flow is a great step to achieving a spacious look. According to an article about home staging on AOL Real Estate, you should use the ‘Rule of Three.’ For each room, you only need three pieces of furniture and three decorative items for staging.
http://realestate.aol.com/blog/2010/09/09/home-staging-on-a-dime/
5. Modernize: The kitchen is one of the most important room in the home. What kind of appliances do you have? Is your stove an older electric model? Are the fixtures brass? According to Realtor Magazine, modernizing dated items makes a space more appealing to buyers. Even though it might feel like a waste to sink money into new appliances or minor remodels, modernizing makes your space more competitive with other homes on the market.
http://realtormag.realtor.org/home-and-design/feature/article/2012/01/put-your-best-features-forward-simple-staging-solutions

6. De-Personalize: Maybe you’ve lived there for 15 years or raised your family under that roof—all homes have some sort of sentimental value. The sooner you can disassociate yourself with space, the easier it will be to let go. When potential buyers come in, they want to picture their family living there, not yours. Take down photos, diplomas and other items that suggest you still have emotional claim to the space.

7. Freshen the Paint: Living in a space leaves its mark. If you notice that walls are scuffed, scratched or marked up, be sure to freshen up the paint. Not only will it hide potential wear and tear such as nail holes, it will give the room a brighter appearance. If there are any walls or rooms that have been painted a bold color such as red, or bright blue, think about re-painting them neutral, as not everyone’s aesthetic likes are the same.

8. Clear the Kitchen Counters: According to the afore mentioned article in Realtor Magazine, homeowners should have no more than three appliances on their kitchen countertops. This avoids a cluttered look, and highlights the amount of workspace available to potential buyers—especially those who love to cook. If there is a counter or island, emphasize it with a plant.

9. Re-think Carpet: Hardwood floors are a sought after classic. If you still have carpet in some of your rooms, think about replacing it with hardwoods. Sometimes there is already hardwood flooring underneath carpet, and all you have to do is rip it up! If not, think about investing in hardwoods in at least one important, central space like the living room or master bedroom.

10. Don’t Hide Unique Details: If your home has an interesting feature, say distinctive architecture, unusual built-in storage or vintage fireplace, don’t try to cover up these features. Instead, present them as points of character unique to the home that will set it apart.
Obviously these are just a few of the many tips to consider when getting ready to sell your home. As a Realtor, I’ve worked closely with many clients both buying and selling homes, and seen firsthand what gets noticed, what doesn’t, and what really draws people in.

Mercer Island: Always a Strong Market for its Homes

Mercer Island residents know—our city is a very wonderful, unique place to live. As a seasoned real estate agent who has lived and worked on the island for almost 20 years and watched the real estate market fluctuate, I can safely say that this community is, and always has been, a friendly, stable and welcoming place to live. With a top-rated school district, proximity to Seattle and surrounded by Lake Washington, Mercer Island offers the perfect locale for a wide range of buyers—from the young commuter to the expanding family.
Measuring in at six square miles, the island is currently home to about 22,000 residents, many of whom are families and professionals. Even though it is located between Seattle and the Eastside, Mercer Island retains a "small-town" feeling, and residents are very involved in community life, including elections, fundraisers and annual festivals. And while the views from the waterfront enclaves on the island are truly breathtaking, the interior contains more than 475 acres of parks and open space, fostering trails for bike-riders, beaches for families and parks for canine companions. There are more than 50 miles of marked walking trails. Luther Burbank a standout park with 77acres along a ¾ mile stretch of waterfront at the northeast end of the island. Aside from water sports and public fishing, there are tennis courts, picnic areas with barbeques and children’s play structure.

Many "Islanders", commute to work either in Seattle or the Eastside. On the north end of the island, an expanded park-and-ride provides commuters with an option for travelling to and from work. New development on the north end of the island, has created a vibrant business district, is also known as the Town Center. New projects surrounding the Town Center will add more retail and office space to the area, as well as new apartments, condominiums and senior living units. This neighborhood is great for young couples looking to start a life on the island. With restaurants, bars and shops, it’s a great place for those who like to socialize.
Families seeking the best education for their children will find it on Mercer Island. Last month I wrote an article for this website about the relationship between home value and highly ranked school districts. http://goo.gl/244qP The Mercer Island School District is highly ranked within the state, as well as nationally standardized test scores. This not only ensures Islander students a strong educational foundation, but also proves a worthy investment when buying a home in the area.

Aside from the varied architecture, fantastic views and potential for waterfront property, owning a home on Mercer Island offers the chance to live in a spirited community full of intelligent, creative individuals who care about their community. Mercer Island is already a special place to live. As it grows and develops in years to come, a property in this city will not only provide a family home, it can also be an investment in the future.

12 tips to buy and sell real estate in 2012

I believe 2012 will be growth year for home sales.  The Improving economy, low interest and tremendous values will motivate buyers and sellers to act.  Here are 12 valuable tips

12 tips to buy & sell