Renton Real Estate and Community Blog

According to Kirotv.com, “Gov. Chris Gregoire says the state is pulling the license of Countrywide Home Loans to write loans in Washington and that investigators found evidence of ‘predatory practices’ aimed at minorities.”

Some mortgage companies have warehouse lines that are with Countrywide. These are the lines of credit used to fund loans and if they are not allowed to operate in WA State, they will not be able to fund any loan regardless of whether or not the loan was intended to transfer to Countrywide. We don’t know all details of how this will affect Broker or Correspondent relationships but we’ll keep you informed as we get more details.

If you have a signed around purchase and sale agreement, ask your real estate agent if Countrywide is a player in your transaction.

Late night I-90 closures and rolling slowdowns on Mercer Island

Late-night drivers should prepare for delays on I-90 in Mercer Island. Starting Monday, June 23 crews plan several lane and ramp closures as they build new I-90 HOV on and off-ramps on Mercer Island and improve I-90 HOV access at Bellevue Way as part of Sound Transit’s I-90 HOV access project. Work will continue through Friday, June 27. On, Saturday and Sunday crews will conduct rolling slowdowns overnight on eastbound I-90 while they install a sign bridge

Learn what’s happening with SR 520 at open houses this week

WSDOT is hosting two open houses this week in Seattle and Bellevue to share information about the latest plans for the SR 520 bridge replacement . The new plans that we will present are a result of a mediation process on the west side of Lake Washington and collaboration with Eastside communities.

In addition to the update about the bridge replacement, representatives from the Lake Washington Urban Partnership will also launch an environmental process for a proposal to toll the existing SR 520 floating bridge, and they want to hear what you think should be studied in the environmental analysis.

You will also be able to speak with project partners working on other key corridor elements, including Sound Transit, King County Metro, and staff from the newly-formed SR 520 Tolling Implementation Committee .

The first open house will start at 4 p.m. on Tuesday, June 24, at the Naval Reserve Building in Seattle, 860 Terry Ave N (at Valley Street). The second open house will take place from 4 to 7 p.m., Wednesday, June 25, at Bellevue City Hall, 450 110th Ave NE.

How will you get around during the Wilburton Tunnel closures in August?

It’s never too early to plan your routes around I-405 in Bellevue this August. During the weekends of August 8-11, 15-18 and 22-25 crews will close southbound I-405 between SE 8th Street and I-90 to remove the Wilburton Tunnel (PDF 1 MB) to make room for more southbound I-405 lanes.

How can you help minimize traffic backups? Delay or reschedule nonessential trips, use an alternate route, carpool, take the bus or work from home.

You can also call 511 for travel information and check the I-405 construction updates closure information on I-405.

These numbers are based on a three month historical analysis that is updated on a weekly basis.

MLS Area 500 (Newcastle, Bellevue South of I-90 & Issaquah South of I-90)
Single Family Homes
Average Days on Market: 97 Days (Up From 95 Last Week)
Inventory of Active Listings: 610 (Up from 590 Last Week)
Inventory of Sold & Pending Listings: 225 (Up From 252 Last Week)
75 listings are absorbed by demand each month on average. (Up From 74 Last Week)
8.13 Months Worth of Supply (Up from 7.97 Last Week)
Average List Price: $891,839 (Up From $887,468 Last Week)
Average Sale Price: $736,723 (Up From $736,144 Last Week)
Median Sale Price: $620,500 (Up from $615,000 Last Week) (1/2 sell for more & 1/2 sell for less)

Analysis of MLS Area 500 for Single Family Homes: This area favors buyers over sellers based on the fact that there is a 8.13 month supply of homes. This means that if no additional homes were listed, it would take 8.13 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.

Condominiums
Average Days on Market: 78 Days (Up From 68 Last Week)
Inventory of Active Listings: 157 Active Listings (Up from 149 Last Week)
Inventory of Sold & Pending Listings: 83 (Up from 80 Last Week)
28 listings are absorbed by demand each month on average. (Up From 27 Last Week)
5.6 Months Worth of Supply (Up From 5.5 Last Week)
Average List Price: $336,125 (Up From $333,526 Last Week)
Average Sale Price: $347,825 (Up From $342,746 Last Week)
Median Sale Price: $329,000 (Up From $320,000 Last Week) (1/2 sell for more & 1/2 sell for less)

Analysis of MLS Area 500 for condos: This area is balanced between buyers and sellers based on the fact that there is a 5.6 month supply of homes. This means that if no additional homes were listed, it would take 5.6 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.

MLS Area 350 (Northeast Renton / Renton Highlands, East Highlands, Briarwood)
Single Family Homes
Average Days on Market: 101 Days (No Change From Last Week)
Inventory of Active Listings: 467 (Up from 455 Last Week)
Inventory of Sold & Pending Listings: 268 (Up from 265 Last Week)
89 listings are absorbed by demand each month on average. (Up from 88 Last Week)
5.2 Months Worth of Supply (Down from 5.7 Months Last Week)
Average List Price: $570,915 (Down From $573,048 Last Week)
Average Sale Price: $477,312 (Up From $476,012 Last Week)
Median Sale Price: $415,000 (Down From $424,740 Last Week) (1/2 sell for more & 1/2 sell for less)

Analysis of MLS Area 350 for Single Family Homes: This area favors sellers overs buyers based on the fact that there is a 5.2 month supply of homes. This means that if no additional homes were listed, it would take 5.2 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.

Condominiums
Average Days on Market: 82 Days (Up From 78 Last Week)
Inventory of Active Listings: 95 Active Listings (Up From 89 last week)
Inventory of Sold & Pending Listings: 37 (No Change From Last Week)
12 listings are absorbed by demand each month on average. (Up from 10 Last Week)
7.9 Months Worth of Supply (Up from 7.4 Months Last Week)
Average List Price: $255,001 (Up From $253,102 Last Week)
Average Sale Price: $250,397 (Up From $241,593 Last Week)
Median Sale Price: $245,000 (Up From $227,500 Last Week) (1/2 sell for more & 1/2 sell for less)

Analysis of MLS Area 350 for condos: This area is favors buyers over sellers based on the fact that there is a 7.9 month supply of homes. This means that if no additional homes were listed, it would take 7.9 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.

MLS Area 340 (Southeast Renton / Cascade, Tiffany Park, Talbot Hill, Benson Hill, Fairwood)
Single Family Homes
Average Days on Market: 97 Days (Up From 93 Last Week)
Inventory of Active Listings: 410 (Down From 411 Active Listings Last Week)
Inventory of Sold & Pending Listings: 188 (Up From 186 Last Week)
63 listings are absorbed by demand each month on average. (Up from 62 Last Week)
6.50 Months Worth of Supply (Down From 6.62 Months Worth of Supply Last Week)
Average List Price: $439,958 (Down From $441,558 Last Week)
Average Sale Price: $369,938 (Down From $373,790 Last Week)
Median Sale Price: $361,500 (Down From $363,000 Last week) (1/2 sell for more & 1/2 sell for less)

Analysis of MLS Area 340 for Single Family Homes: This area is balanced between buyers and sellers based on the fact that there is a 6.50 month supply of homes. This means that if no additional homes were listed, it would take 6.50 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.

Condominiums
Average Days on Market: 84 Days (Down From 85 Last Week)
Inventory of Active Listings: 112 Active Listings (Up From 109 Last Week)
Inventory of Sold & Pending Listings: 53 (Up from 52 last Week)
18 listings are absorbed by demand each month on average. (Up From 17 Last Week)
6.2 Months Worth of Supply (Down from 6.4 Last Week)
Average List Price: $233,371 (Down From $234,030 Last Week)
Average Sale Price: $214,240 (Down From $232,259 Last Week)
Median Sale Price: $207,500 (Down From $230,000 Last WeeK) (1/2 sell for more & 1/2 sell for less)

Analysis of MLS Area 340 for Condos: This area is balanced between buyers and sellers based on the fact that there is a 6.2 month supply of homes. This means that if no additional homes were listed, it would take 6.2 months to absorb the current inventory. A market is considered balanced when the supply of homes is closer to a six month supply.

If you are interested in statistical information for an MLS area not covered here, please respond to this post to let me know what neighborhood you live in and I will follow up with the statistics specific to your area of interest. You are also welcome to visit my website at www.davidjedwards.com where you can access my Market Snapshot research tool found on the left side of the homepage.

This information is deemed reliable but it is not guaranteed to be 100% accurate. I generated these statistics using the Northwest Multiple Listing Service. These statistics were not compiled or published by the Northwest Multiple Listing Service. The analysis of each MLS Area is based on the market statistics but is the personal opinion of the author.

David Edwards
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/renton-info-blog.asp

David J Edwards is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Renton Highlands, Newcastle and South Bellevue.

Tolling committee launches conversation about SR 520 tolling
To launch public discussions about tolling in the SR 520 corridor, the 2008 legislature appointed a tolling implementation committee that has three members: WSDOT Secretary Paula Hammond; Puget Sound Regional Council Executive Director Bob Drewel; and Commissioner Dick Ford from the Washington State Transportation Commission. The committee recently held its first public meeting on June 17, and has launched its new Web site at http://www.build520.org/.

Southbound I-405 in Bellevue to close in August for tunnel removal
Crews in south Bellevue continue to make progress removing dirt and vegetation from the top of the Wilburton tunnel in preparation for its demolition this August.  Crews will use equipment that will crunch and break concrete as well as a crane with a wrecking ball to demolish the Wilburton tunnel.  Southbound I-405 will close completely from SE 8th Street to I-90 during three weekends:

11 p.m., Friday, August 8 to 5 a.m., Monday August 11
11 p.m., Friday, August 15 to 5 a.m., Monday, August 18
11 p.m., Friday August 22 to 5 a.m., Monday August 25

You have probably noticed that Duvall Avenue is now closed between Sunset Blvd. NE and SE 95th Way. This closure is scheduled to remain in force for approximately one year.

To minimize the road closure’s impact on your daily commute, you can take advantage of a shortcut by turning left on SR 900 from Duvall and then right on Union. Head South on Union to SE 95th Way and turn left when you get to Duvall. Most drivers are not aware of the fact that the closure has not affected the bridge.

Improvements will include widening the road to five lanes, including a two-way left-turn lane in the center; overhead power lines being converted to underground lines in anticipation of added safety during storms and emergencies; a new traffic signal at Duvall Ave. N. and NE 21st St.; new gutters; new bicycle lanes; and new sidewalks.

For updates visit duvall.rentonwa.gov.

With the coming of spring the days get longer, the air gets warmer, the birds begin to sing. As you look around, you see many changes taking place but the most stunning transformation has to be in the plants. Almost magically, barren branches start to bud, brown grass turns green, and tiny little shoots push up through the soil; and with the changing of the season, we close another chapter of events that have come to define winters in the Pacific Northwest.

Nonetheless, when one door closes, another opens and with that, we are given an opportunity to enjoy the vast array of springtime activities that are also unique to our region.

If you are looking for things to do in Renton, Newcastle, Bellevue and the surrounding area, I have updated my Local Community Events Calendar found online at:
http://www.davidjedwards.com/events-calendar.asp

There are literally hundreds of pacific northwest events on the calendar. Some of the most recent additions have been added to the pre-school programs page and are listed below.

Performances (Stage):
Once Upon a Mattress - July 25th - August 10th - Carco Theatre
In this hilarious tweaking of the fairy tale “The Princess and the Pea,” Queen Aggravain has ruled that “Throughout the land no one may wed until Dauntless marries.” However, she has managed to sabotage every princess that comes along using a series of impassable tests. When Sir harry and Lady Larken learn that they are going to be parents, he goes off to the swamps and brings back Princess Winnifred the Woebegone. The queen is horrified by Winnifred herself, as well as the obvious attraction between the prince and the new soggy princess. She immediately begins to think of new ways to undermine the budding relationship. Tempers flare and tales twist, but with some help from the King, the Minstrel, and the Jester, Winnifred isn’t going to be quite so easy to get rid of. friday and Saturday performances at 7:30 PM. Sunday performances at 2:00 PM. Call 425-430-6751 for tickets.

Performances (Music):
Renton City Concert Band - June 25th
Duwamish Dixieland Jazz - July 2nd
Handful of Luvin - July 9th
Amber Tide - July 16th
Craicmore - July 23rd
Panduo Steeldrum - July 30th
Creme Tangerine - August 6th
Darren Motamedy - August 13th
The music starts at 7:00 PM at Gene Coulon Memorial Beach Park next to Ivar’s/Idd Valley.

Youth Programs:
Picnic Pizzazz
Bring your picnic lunch and join us for fun-filled entertainment at Kiwanis Park (815 Union Ave NE) on Thursdays from 12:00 to 1:00 PM.
July 10th - Roberto the Magnificent
July 17th - WOOFD2
July 31st - Jeff Evans
August 7th - The Noise Guy
August 14th - Eric Herman

Nightlife:
Moonlight Movies at Liberty Park
If you remember the old Fey’s Roxy Theater in downtown then you are sure to enjoy Renton’s outdoor cinema on Saturdays in Liberty Park. Start making new movie memories with your friends and family. Seating opens at 7:00 PM. Only low-back chairs and blankets are allowed in the front viewing section.
Harispray - July 12th
The Bucket List - July 19th
Some Like It Hot - August 2nd
The Spiderwick Chronicles - August 9th
Meatballs - August 16th
Surf’s Up (at Henry Moses Aquatic Center) Gates open at 8:00 PM. Admission $5. August 23rd

Seasonal Events:
Renton’s Fabulous 4th of July - Gene Coulon Memorial Beach Park - 12:00 PM - 10:30 PM
Our annual event features free children’s inflatables and face-painting from 12:00 PM - 8:00 PM, and wonderful stage entertainment from 1:00 PM - 9:30 PM. Renton River Days 2008 souvenirs will be on sale at the Information Booth. The fireworks display, at approximately 10:00 PM, will cater to spectators along the shoreline and be visible from the hills surrounding south Lake Washington. Food will be available at the beach concession stand, IVar’s and Kidd Valley. Parking will be available in Boeing lots located at North 6th St. and Park Ave. North, and North 6th St. and Garden Ave. North. Free Shuttle Express service will be provided to the park from these lots from 9:00 AM to approximately midnight. Additional parking will be available for a fee at The Bristol Apartments at Southport, located between Coulon Park and Boeing. Please note that personal fireworks, alcohol, pets, pop-up canopies and enclosed tents are prohibited. Only small-size barbecues permitted.

Return to Renton Cruise-In - Downtown Renton @ South 3rd St - July 6th - 10:00 AM to 3:00 PM
Cruise back in time and check out classic vehicles at the Annual Return to Renton Benefit Car Show. Free admission for spectators with fun entertainment for the entire family. Call 425-430-7589 or visit www.GoRenton.com.

Seasonal Events:
IKEA Renton River Days July 23rd & 25th - 27th
“Explore the Heart of Renton” - Liberty Park - Join us for festival fun during Renton’s largest community celebration! Enjoy festival favorites such as Kids’ Day, the parade, Rubber Ducky Derby, stage entertainment, food, and arts and crafts. For the complete schedule of events with dates, times and locations, call 425-430-6528 or visit www.rentonriverdays.org.

Galleries:
Downtown Renton Art/Antique Walk - August 23rd - 11:00 AM to 5:00 PM
The Annual Downtown Renton Art & Antique Walk will liven up downtown streets with paintings, pottery, sculpture, and photography displays from over 75 artists. Meet artists, explore the antiques and re-discover downtown. For more information, call 425-430-6589 or visit www.artsunlimited.org.

Farmers Markets:
Renton Farmers Market - June 3rd through September 16th - 3:00 PM - 7:00 PM
The Renton Farmers Market is located at the Piazza at S. 3rd Street and Burnett Ave. S. The Renton Farmers Market is filled with juicy berries, leafy lettuce, vine ripened tomatoes, and a cornucopia of other farm fresh produce, cut flowers, baked goods and more. Enjoy the weekly chef series, entertainment and activities for kids. For a complete schedule visit www.rentonfarmersrmarket.com or call 425-430-7214.
If you have something you would like to see added to the calendar, please submit your request by responding to this post with a comment. Please limit your event postings to those taking place in Washington State’s King, Pierce, Thurston, Snohomish, Skagit, Lewis, Mason, Island, Grays Harbor and/or Kitsap counties.

Event information is subject to cancellation or change. Please phone ahead to confirm event dates, times and costs.

Have a great weekend!

David Edwards
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/renton-info-blog.asp

David J Edwards is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Renton Highlands, Newcastle and South Bellevue.

Open House Sunday June 8th from 1:00 PM to 4:00 PM
372 Shangri La Way NW Issaquah, WA 98027   

Price: 359,890
Bedrooms: 2
Bathrooms: 2.5
Square Feet: 1090 SF
Lot Size: 913 SF
Year Built: 2003
MLS: 28083020

This built-green townhome boasts an open floor plan, 2 car tandem garage & 2 master suites! The dining area flows to a family room with a fireplace & deck access overlooking a greenspace commons. The kitchen features granite counters & stainless appliances as well as a pantry & room for a breakfast nook. The primary master suite accommodates a king size bed, features 2 walk-in closets & a 5 piece bath with an oversized tub & raised counters. This Talus home is adjacent to a state park & busline.

Property Website: http://davidjedwards111.topproducerwebsite.com/23614.asp
Virtual Tour: http://www.flyinside.com/tour.php?id=23614

Directions: From I-90, Take Exit 15. Head South on SR 900. Turn right onto Talus Drive. Turn right onto Shangri La Way NW. Home is on right.

If you can’t make it to the open house but would still like to preview this home, please contact me to arrange for a private showing.

Best Regards!

David Edwards
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/renton-info-blog.asp
David J Edwards is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers on the Eastside.
 

On June 08, 2008 at 13:00 PM, you are invited to an Open House at 372 Shangrila Way Northwest in Issaquah. If you are looking for a Resale - condo-townhouse property in this area, don’t miss this rare opportunity to visit this magnificent property. For a preview of this Resale - condo-townhouse property, check out my site at davidjedwards111.topproducerwebsite.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

NWREporter June 2008

Area Continues to Avoid Major Foreclosure Crisis

Default Research, the premier provider of foreclosure real estate data in the Seattle region, is reporting that foreclosures in King, Pierce and Snohomish counties declined by five percent in March of 2008. The total number of Notice of Trustee Sales recorded in March totaled 379 in King, 380 in Pierce and 215 in Snohomish. Only .70 percent of total household in these regions had foreclosure activity.

“The outlook for Seattle is relatively good,” said Serdar Bankaci, founder of Default Research. “Home prices have remained stable in the past month and inventories are continuing to climb. With the recent jumbo loan limit changes this should have a positive impact on the economy.”

According to Bankaci, in some regions of the Default Research coverage area, nearly 10 percent of all homes entered into foreclosure. “Seattle continues to be one of the safest real estate markets in the country,” said Bankaci.

The chart shows a unique and accurate local look at how the Default Research foreclosure statistics affect your area.

Default Research is Seattle’s leader in foreclosure research, reporting Trustee Sales Notices days after being recorded. The foreclosure statistics are a count of the number of Notice of Trustee Sales filed. Properties are counted once in a 12-month period. More information about Default Research can be found at its Web site: http://www.defaultresearch.com. For more detailed Washington State foreclosure statistics listed by county, please visit http://www.market.defaultrsearch.com.

The length of a home inspection depends on a number of variables, including the size of the home, the age of the home and the inspection services you’d like.

Below is a list of home inspection services and examples of the average length of time it takes to perform each inspection. These averages were provided by WIN Home Inspection and are based on a 2400 square foot home that is in moderate to good condition and is less than 20 years of age.

A Standard Home Inspection should include a full visual inspection of major systems in the home. It should include an inspection of over 300 checkpoints including the electrical, plumbing, heating and cooling systems, roof, attic, foundation, garage, basement, crawl spaces, exterior structure and decking. These inspections typically take between 2.5 and 3 hours to complete.

An Extended Home Inspection should include everything in a Standard Home Inspection as well as additional interior components including the interior and exterior doors, built-in appliances, interior stairway components, bath and shower, wall coverings, kitchen cabinet doors and drawers. These inspections typically take between 3 and 3.5 hours to complete.

A Condo or Townhome Inspection should include an extensive inspection of the condominium or townhouse interior as well as a review of the structure. It should also include an inspection of the mechanical, plumbing, electrical and heating and cooling systems within the unit, along with any built-in appliances. These inspections typically take between 1.5 and 2.5 hours to complete.

A Duplex or Multiplex Inspection should be similar to a standard or extended full home inspection. This inspection should review all visual aspects of the individual units of the property, as well as all shared major systems and structural components. The amount of time required to complete the inspection will Varies greatly based on the occupancy rate and the number of units in the multiplex.

A Mobile Home Inspection should ncludes everything in Standard Home Inspection, as well as an inspection of proper bracing and/or anchoring, permanent bolt-on systems and any towing, axles, or vehicular features. These inspections typically take between 1 and 2 hours to complete.

A Pre-listing Inspection is usually paid for by a seller before putting their home on the market so that they can correct any problems before they get an offer. A pre-listing home inspection should cover an inspection of everything from the foundation to the roof and all the major systems of the house, including electrical, plumbing, heating and air conditioning. This inspection should also include a positive features summary and any marketing tools that might let a potential buyer know the home is ready for purchase. These inspections typically take between 2 to 3 hours to complete.

David Edwards
REALTOR
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/renton-info-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
 
David J Edwards is a full time real estate agent and REALTOR with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Renton, Newcastle and South Bellevue Washington.