Madison Park Real Estate Market Update 2015

Seattle’s Madison Park Real Estate Market In 2015

Madison Park RealtorsHave you been thinking about making a move to Madison Park?  Best known for the beautiful Arboretum it borders, Seattle’s Madison Park neighborhood also has a public beach on the shores of Lake Washington, views of Mercer Island and Bellevue facing east and some of the most beautiful luxury homes you’ve ever seen.

According to Realtor.com,  3,200 people live in Madison Park.  By comparison, in Ballard there are 36,500 people.  And believe it or not there are 7% less people who live in Madison Park today than this time last year.  The average person is about a 46 years old, but more folks in the 60 to 69 range actually live here.

What type of person enjoys living in Madison Park?  A person who likes boutiques, great food, and near waterfront living.  It’s dotted by local vendors such as Madison Park Hardware, Martha E. Harrison Flowers, The Original Children’s Shop, and what establishment wouldn’t be complete without an old fashion ice cream store (to eat while you walk towards the beach).

62 homes have sold so far this year ranging from $325,000 to $3,840,000.  So the average sold price is basically $1.2M resting at about $509.00 per square foot.  Gorgeous homes reside on street lined streets, there is one gated community named Broadmoor, and local schools for kids to walk to.  The proximity to downtown Seattle makes it attractive to people too.  Just cruise through Capital Hill and drop down the other side to be in Seattle’s financial district.

Madison Park Real Estate Market for 2015 is considered a neutral market:  Meaning there is 3 to 6 months of inventory (homes available).

Home For Sale in July 2015: 7 units.

Madison Park real estate market

Up 75% compared to the last month

Home Closed in July 2015: 2 units.

Down 50% compared to the last month

Home Placed under Contract in July 2015: 2 units.

Down 50% compared to the last month

Take a look at what has sold in the last 30 days for your  Seattle Real Estate Madison Park Market 30 Days market update.

The current inventory shows there are 4 condos and 7 single family homes for sale (including Broadmoor).  $399,000 will get you a one bed, one bath 813 square foot condo.  Top of the range is a $4,500,000 home with 4 beds, 4 baths and 7754 square feet of home cited on a 12,200 square foot lot.  For more Madison Park Real Estate listings, you can find them here:  Madison Park Homes For Sale Listed In the NWMLS now.

If you have any questions about Madison Park Real Estate, feel free to contact me.

Molly Cartwright
Seattle Realtor
206-841-6800 or molly@cooperjacobs.com

How To Buy When You Already Own

How To Buy When You Already Own
Do you own your home or condo but want to sell it and buy something with more space, a different location, or perhaps a view?

One option is to take out a HELOC. A Home Equity Line of Credit (ask me for a lender with great programs of these right now) lets you take out a certain percentage of your home’s equity to use as a downpayment on your new home. To find out how much equity you have, contact a Realtor, like myself, to research the value of your home (it changes ALL the time). If you have a certain percentage of equity, you can qualify for a new loan. And if you’re preapproved for your new home loan, I can get the home you want to sell prepped for the market pronto!

Another option is a bridge loan. A bridge loan has some ramifications though. They generally tend to have higher interest rates and need to be paid back in a specified amount of time. It’s like a short term loan on your current property to buy a different property. It’s all about timing with a bridge loan. You can find out more about bridge loans HERE.

You can always make an offer contingent on your home selling. This is perhaps the option offering the least amount of risk. Of course with our current market today, properties are moving fast and a contingent offer isn’t as clean as an offer with a definitive close date, for example. But if are you a homeowner considering the contingent offer option, consider the right list price and a home in tip-top shape, it won’t take long to sell.

molly a. cartwright | seattle realtor
cooper jacobs real estate, llc
206.841.6800
“Serving home buyers and sellers in Seattle’s most popular neighborhoods”

What is a Buyer’s Agent?

What is a Seattle Buyer’s Agent? Do you ever wonder how this real estate stuff works when you buy or sell a home? Who pays who in a real estate transaction?


Over the years, I’ve had plenty of Seattle area buyers ask me how much my Realtor fees are if we work together. Likewise, I’ve had sellers shocked to find out what they have to pay for excise tax in our city. A seller’s net proceeds or a buyer’s closing cost worksheet are always in my back pocket to get down to an approximate number. Traditionally the commission percentage (which can vary) come from the seller’s wallet (sorry guys)…but that’s not to say there can be different scenarios.

So why am I a Seattle buyer’s agent? First of all, I absolutely love working with Seattle neighborhood buyers! And secondly I LOVE looking at Seattle homes. I listen very carefully to them. First we have to get through the NEEDS and then we talk about the WANTS. I love the satisfaction of walking into a home with my clients and they instantly fall in love with it. But more times than not, there are compromises so I’m all about letting my clients know what their options are. The permit process, the cost of remodeling, the little tweaks you can do here and there. It’s all so much fun to me and I can see the client getting excited as we proceed down the road.

The road is an exciting one too. I can probably explain the transaction process of buying or selling a home about 100 different ways depending on the client (unfortunately not in a 100 different languages because that would be really cool). Sometimes it’s a new home buyer, sometimes its an investor, and sometimes it’s a buy up or a buy down . I talk to the buyer about terms, the market, escrow, inspection, appraisal, the 21 page purchase and sale contract and specifically what to expect and what not to expect. It’s great!
The anticipation of presenting a killer offer to the seller is my favorite. Multiple offers  in hot Seattle neighborhoods don’t scare me. It’s all about making the right choices.

Are you interested in talking to me as a buyer’s agent? I’d be happy to talk to you too!

I HEART Green Lake (my ‘hood), Tangletown, Wallingford, Phinney, Ravenna and Ballard. Got car. Will travel.

molly a. cartwright | seattle realtor since 2001
cooper jacobs real estate, llc
206.841.6800
cooperjacobs.com | greenlakeloop.com
“Serving home buyers and sellers in Seattle’s most popular neighborhoods”