Queen Anne Condo On Olympic Place 98109

Queen Anne CondosQueen Anne Condos:

Just closed in escrow yesterday!

500 W Olympic Place

Seattle, WA 98109

Seattle Realtor Molly Cartwright did a fabulous job representing the seller of this Queen Anne Condo.  We received more than one offer and the property did sell for 101.97% over  list.  This is a good rate for a condo in that price range.  Please let us know if you have a Queen Anne condo for sale.  We have other buyers interested and Seattle real estate inventory is extremely low.

Queen Anne condos sell quickly so if you are a buyer looking for a home and want to learn more information about buying a condo, please let us know – we are happy to help and have been quite successful in representing our buyers in multiple offers.  We can help you with Queen Anne condos or other Seattle condos and have a great grasp on the current market and what it takes to buy a home in this environment.  We also have fun finding the cool view condos if that is what you are interested in.  The Space Needle views from Queen Anne never grow old and it is an amazing city to live in. Queen Anne is rich with history, but also extremely “with it” when it comes to what people want in their community. It’s an exciting place and we look forward to sharing our favorite Queen Anne spots with you.

Here is how you can reach us:

Molly Cartwright 206-841-6800 (call/text)

Courtney Cooper 206-850-8841 (call/text)

You can also email us at QA@CooperJacobs.com  We look forward to hearing from you.

Seattle Real Estate: Interest Rates, Affordability, And What’s Next

Looking At Seattle Homes For Sale, Interest rates, and Affordability – Should You Buy Now?  Or Wait?

The fact is that interest rates on 30-year, 20-year and 15-year fixed rate mortgages are some of the lowest in history.  We don’t know how they will increase over the next two years.

In discussions with friends about their plans to purchase a home I often hear them say that they would like to purchase in a year or two.  This is great news for everyone.  However, I usually try to educate them on the current advantages of low mortgage interest rates. – Cooper Jacobs Real Estate

Taking advantage of a 4% or lower loan rate can save prospective homebuyers thousands, if not over $100,000 in the amount of interest paid on the life of a loan.[1] Currently, interest rates on a 30-year fixed loan are setting at 4.02%.  That is the lowest since June 2013.[2] With the economy on track for a solid 3.5% annual growth and inflation rising, investors are beginning to dump bonds for stocks.[3] This, in turn forces financial institutions to raise the interest rates on loan products to keep a profit.

Seattle homes

The economy is no doubt on an upward trajectory.  Baring another economic disaster, the economy will continually improve and force interest rates up.  Can we predict whether interest rates will be significantly higher in 2016?  The answer is no.  However, we can say with confidence that they will be higher and when it comes to your money every dollar matters.

Current homeowners are taking advantage of these low interest rates by refinancing.  They understand the significant savings to be had by leaving their 30-year fixed rate mortgage for a new 20-year or 15-year fixed loan instead.  In fact, 44% of people who refinanced in the third quarter “ditched their existing 30-year fixed rate loan in favor of a shorter-termed 15-year or 20-year loan.  It’s the second quickest exodus from the 30-year fixed rate mortgage in recorded history…”[4]

So, instead of putting off the home buying process for another year or more, people should begin to get their feet wet.

  • Build a relationship with a local Seattle Realtor
  • Ask your Realtor for their trusted resources such as a referral for a lender.
  • Find out what kind of loan options you can qualify for and what is available.

By taking advantage of these resources you can be prepared to pull the trigger when you find a home that you love.  It should also be noted that using a Realtor that is from your neighborhood is a service that will cost you, as a potential home buyer, nothing out of pocket.  So, let a professional help you do the searching and narrow down the choices for you.  In the end, it is all about making things smooth and easy while saving money.


[1] Lisa Ward, “The Steep Cost of Not Refinancing,” The Wall Street Journal, November 9, 2014.

[2] Average 30 Year Fixed Mortgage rates, http://www.mortgagenewsdaily.com/data/30-year-mortgage-rates.aspx

[3] The Detroit News, “U.S. 30-Year Mortgage Rate up to 4.02%,” http://www.detroitnews.com/story/business/personal-finance/2014/11/10/mortgage-rates-rise/18779027/

[4] Dan Green, Today’s Low Mortgage Rates Push Borrowers Away From 30- Year Loans, http://themortgagereports.com/16858/freddie-mac-refinance-report-transition-15-year-30-year-mortgage-loan

Cooper Jacobs Real Estate  realestate@cooperjacobs.com

 

 

Queen Anne’s Vibrant Million Dollar Market

The million dollar and up market in Seattle’s Queen Anne neighborhood has been quite vibrant over the last 180 days. There have been 22 SOLD Queen Anne homes for sale in the MLS priced at over a million dollars. These Queen Anne luxury homes and historic homes have had a final sales price ranging from $1,011,060 to $2,700,000.  The median price for these was $1,321,500 and they had an overall sale price to listing price percentage of 99.41% with a range of 87.53% to 112.86%.  Ten of these sold Queen Anne homes went for over full price. Despite this, the average days on market was 81 days with 9 of these homes on the market for a week, one of them on the market for 32 days, one on for 42 days, and the rest of them on the market for anywhere from 76 days to 307 days.Queen Anne historic homes

One of the more impressive Queen Anne homes on the lower end of this million dollar and up price range was 357 Highland Dr.  It was listed on the market for $1,050,000 and sold in 2 days for $1,185,000 (112.86% over list).

There is one pending feasibility property and two pending inspection Queen Anne homes currently.  They are priced between $1,100,000 and $3,495,000.  There are six pending Queen Anne homes in escrow at the moment, although that can change by the hour… These range in list price from $1,225,000 to $2,495,000 with a median price of $1,725,000 and all but one were on the market for far less than a month.

There are 14 Queen Anne homes for sale in the million dollar and up price range. These range in price from $1,195,000 to $11,500,000 with a median price of $2,499,000.  You can find a lot of the stately homes on the Queen Anne South slope.  Additionally if you are interested in Seattle historic mansions, then you should look at other neighborhoods as well as Queen Anne.  There are many choices across the Puget Sound for Seattle Luxury Homes, but Queen Anne is always one of my first picks.

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All The Single Ladies: Female Homebuyers The New Norm

A growing phenomenon. The Single Female Buyer.

With women more employed than ever, and with the average couple marrying later and bringing their own assets and properties to the relationship, women are not waiting until marriage to buy their first home.

According to the State of the Nations Housing: 2009 report, compiled by the Joint Center for Housing Studies of Harvard University, “social and economic trends have given women a more powerful presence in housing markets. Between 1980 and 2000, the number of households headed by unmarried women increased by almost 10 million.” The same study, however, also states that, “because women still earn less on average than men do, they are more likely to face housing problems than either married-couple households or households headed by unmarried men.”

Statistics on Women and Homeownership

  • Interestingly, single female buyers accounted for nearly twice as large a share as single male buyers for both first-time buyers (23 and 15 percent) and repeat buyers (17 and 9 percent).
  • Twenty percent of recent home buyers were single females, and 10 percent were single males.
  • More women (15.5 million) than men (11.8 million) lived alone. Among these, women were more likely than men to own their homes (56% vs. 47%).
  • About one-quarter of the nation’s nearly eight million single mothers spend more than half of their incomes on housing, compared with one-tenth of households headed by single fathers.
  • Over the time period of 1994-2002, the number of unmarried females owning homes climbed from 13.9 million to 17.5 million.

Below is a slew of articles chronicling this rapidly growing phenomenon and suggesting to you, the Single Female Buyer, what you ought to do in terms of real estate investment. My advice is from the heart: buy a home. If you can find a way to do it, especially now that we have gotten through the slump and are in a healthier economic climate, do it.  Nobody can evict you, raise your monthly housing cost, tell you not to paint the kitchen yellow, restrict your pets, etc. Because land ownership has not historically been a woman’s place, it was hard for me to find a great quote by a woman pertaining to this. But as a wise man once said, “Buy dirt, they aren’t making any more of it”. Ownership of one’s home is powerful, both financially and personally. There is nothing I love more than seeing someone become more empowered. Unless that person is trying to take my parking spot.

Sources: 2011 NAR Profile of Home Buyers and Sellers, (Chicago, IL: National Association of REALTORS®, 2010) and The State of the Nation’s Housing: 2012, (Joint Center for Housing Studies at Harvard University, 2012).

Single, female and shopping for a home, (MSN Real Estate, Jan. 29, 2013).

Guess Who’s Driving the Demand for Rental Apartments?, (CNBC, Jan. 29, 2013).

Here’s Some Advice For All The Single Ladies Flooding The Housing Market, (Business Insider, May 16, 2012)

Singles dive into the real estate market, (MSNBC, July 12, 2011).

What Women Home Buyers Want, (Builder, Jan. 14, 2011).

Women Home Buyers, a Major Economic Force in the Industry, Have a Language All Their Own, (NAHB, Aug. 23, 2010).

Single Women Home Buyers: Key to the Housing Recovery?, (AOL Real Estate, May 14, 2010).

Wanted: Single Women Home Buyers, (SmartMoney, Apr. 9, 2010).

Singles, especially women, a growing share of homebuyers, (Chicago Tribune, Feb. 28, 2010).

Women make up their mind faster when buying a home, (Inside Tucson Business, Sept. 11, 2009).

Gender differences abound in the home-buying process, (RISMedia, Sept. 1, 2009).

Single women skilled in house buying, (Washington Times, July 11, 2008).

Women homebuyers growing in number, (Ventura County Star, Jan. 27, 2008).

They’re buying solo, (Newsday.com, Mar. 15, 2007).

Singles taking stride in the home buying market, (The Hammond Times,Feb. 17, 2007).

As the Nation Changes, So Do Home Buyers, (RISMedia.com, Feb. 13, 2007).

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 kind of a market is this, anyway?

With news headlines that are no less constant than they are sensational focusing on housing starts, inventory, home prices, and foreclosures, it’s hard for most people to decipher just where we are on the roller coaster.  I don’t like the roller coaster mentality, because it suggests the ride has an end. Since the dawn of time, man has tried to own and control the land on which he dwells. It’s obvious there will continue to be only the same amount of that dirt which we already have, and a growing number of people to inhabit it. It doesn’t take Mark Twain to tell anyone, “Buy land, they aren’t making any more of it”. In this way, I have a hard time with the myopic attitudes of many people during what is surely a historically affordable time in the housing market. Interest rates haven’t been this low since World War 2, and many of the world’s richest men have gotten there at least in part by their investments in real estate. There are still really wonderful lenders working with buyers who have been through the credit wringer, and who have very little to no money to put down (these are private porftolio loans but they come with the same kind of amazing rates- Key Bank is a great source).  Let’s celebrate! Right?

Actually the unfortunate thing is that this housing market came yoked to a bad economy–what economists say is the worst since the Great Depression, and in some ways even comparable.  Life circumstances often outweigh market circumstances, and many people are forced to sell low after having bought higher.  Many people would buy, if they could just get a decent job. Are those people apt to look through Mark Twain’s long lense of history and feel like this downturn is a blip on the radar? Probably unlikely. Enter wave after wave after wave of short sales and foreclosure properties. We’ve seen years of this, and are we near the end? The numbers suggest a slowing but not an end anytime soon- technically and broadly speaking, property values have to return to their previous levels in order for these homes to be worth what most homeowners still owe on them.  How long will that take? Call me when you find a crystal ball.  I am already seeing prices edging back up here and there, by small increments, in select areas around Seattle (Ballard, Phinney Ridge, Bryant, View Ridge, Queen Anne, Ravenna, Greenlake, and Maple Leaf are a few locations where I’ve recently pulled information for a specific property and seen values adjust higher than last year). My guess is a few more years for us, longer for more depressed areas in the state and the country.  Because this looks to be the case, What’s called ‘Strategic Default’ (and is technically classified by the FBI as fraud) now comprises a huge portion of these foreclosures and short sale files. People who were ‘A paper’ loans (the good e credit, steady financials buyer), who are not in financial trouble necessarily, but feel that it’s a better business decision to walk away from this debt than to continue paying, not knowing how long it will take the property to regain its previous value.  Lienholders are glutted with delinquent files. It’s a mess.

My point? Buy when there’s blood in the street, as one notoriously rich real estate investor has said. If you can find a way to capitalize on this time of opportunity and focus on the options available to you as a buyer (even you, previous short-salers– if you wait 3 years post close), you will be tickled pink that we’re all sitting around talking about this being the ‘bottom’. The ground floor is always the best place to get in on something good!  What little inventory there is, is really flying off the market here in Seattle, most often with multiple offers.   The low number of homes for sale creates a strong competition among the buyers out seriously looking for a home to purchase, causing many to lose out multiple times to other higher offers. Bidding wars are de rigueur on reasonably priced homes in high-demand areas like Seattle proper.

So is it a Buyer’s Market? In the way of you getting a great deal as a buyer, yes. In the way of being able to boss the seller around and come in swinging with a really low offer- no.  These days, I like to call it a ‘Buying Market’.

Just Sold! Queen Anne Ave Condo

Just Sold! Queen Anne Real Estate: Just Sold This Queen Anne Condo!

1417 Queen Anne Ave N #204, Seattle 98109

From the NWMLS listing:

Wonderful neighborhood at top of Queen Anne one block from Trader Joes, walk to shops, restaurants and just minutes from downtown. Enter thru lovely lobby which has convenient coffee shop and Chase Bank. Unit opens to lush sunlit courtyard. Big Kitchen with hardwoods and granite eating bar opens to large entertainment size living room. Romantic bedroom opens on to Juliet Balcony. Great rooftop view deck for sunset gazing and barbeques with friends. Secure parking and storage included.

How would you like to live at the top of Queen Anne hill and enjoy all that living on Queen Anne can offer? Molly and I just sold this great Queen Anne condo with the help from our great team! It was originally listed at $249,900 and on the market about a month. Our Queen Anne buyer got this home at Galer Gardens for $235,000 – complete with roof top deck!

  • 1 bedroom
  • 1 bath
  • 726 square feet
  • Built in 1996
  • Rooftop deck

Sold by Cooper Jacobs Real Estate LLC

realestate@cooperjacobs.com

If you would like more information about this Galer Gardens Queen Anne Condo or other Queen Anne Real Estate or are looking for Queen Anne Realtors, please let us know! We are happy to help you!

Queen Anne Open House Today Until 4PM

New Queen Anne View Homes For Sale Listing:

1901 Taylor Ave N #PH 6, Seattle 98109

$750,000

Open Today Until 4PM

Spacious penthouse condo in prime Queen Anne location has it all: Massive master suite & huge walk-in closet, 2nd bedroom, spacious office with wall of built-ins. Open floor plan, gas range, cherry cabinets & granite counters. 2 secure parking spots, huge storage room & plentiful storage throughout. Full size laundry, sound system, A/C, hardwoods & skylights.queen anne view homes

  • 2 Bedrooms
  • office
  • 2 Baths
  • Built in 1999
  • 1804 Square feet
  • Private Laundry
  • Fireplace
  • City views
  • Mountain views
  • Lake Views
  • Territorial Views

Big deck with great views of Lake Union & downtown!

Lives like a house in a quiet, green neighborhood with the convenience of downtown!  Come see why there are very rarely homes available in The Verandas on Queen Anne!

Listed  Cooper Jacobs Real Estate

realestate@cooperjacobs.com

If you would like more information on this amazing Queen Anne View home or other Queen Anne Real Estate, let us know!

1901 Taylor Ave N, Queen Anne View Penthouse For Sale

New Queen Anne View Homes For Sale Listing:

1901 Taylor Ave N #PH 6, Seattle 98109

$750,000

Spacious penthouse condo in prime Queen Anne location has it all:

Massive master suite & huge walk-in closet, 2nd bedroom, spacious office with wall of built-ins. Open floor plan, gas range, cherry cabinets & granite counters. 2 secure parking spots, huge storage room & plentiful storage throughout.

queen anne view homes

Full size laundry, sound system, A/C, hardwoods & skylights.

  • 2 Bedrooms
  • office
  • 2 Baths
  • Built in 1999
  • 1804 Square feet
  • Private Laundry
  • Fireplace
  • City views
  • Mountain views
  • Lake Views
  • Territorial Views

Big deck with great views of Lake Union & downtown!

Lives like a house in a quiet, green neighborhood with the convenience of downtown!  Come see why there are very rarely homes available in The Verandas on Queen Anne!

Listed By  Cooper Jacobs Real Estate

realestate@cooperjacobs.com

If you would like more information on this amazing Queen Anne View home or other Queen Anne Real Estate, let us know!

Queen Anne View Home For Sale: Open House Tomorrow!

812 5th Ave N #416, Seattle, WA 98109

$289,950

Open Sat 3/10  2:30-5:00 PM

  • 1 Bedroom
  • 1 Bath
  • City Views
  • 709 Square Feet
  • Built in 2002
  • HOA: $264/month

Stunning View Seattle Queen Anne home for sale!

This lavish 1 bed 1 bath top floor corner unit condo in the heart of Queen Anne boasts vaulted ceilings, modern architecture, s.s. appliances, and an open floor plan. Spectacular city, territorial, and Space Needle views.

Other features include secure lobby entrance, assigned secure parking space, new carpet, elfa closets, and huge common patio great for barbecues. Within walking distance to fine dining, performing arts, and shopping. Easy access to all major Seattle commuting routes as well!

Listed by  Cooper Jacobs Real Estate.  You can reach us via email at QA@cooperjacobs.com if you are interested in this Queen Anne view condo or other Queen Anne homes for sale.