Archive for the ‘Duvall Real Estate’ Category

Could Fall City be one of the most expensive zip codes in the United States?

March 15, 2011

Could Fall City be one of the most expensive zip codes in the United States?

Forbes magazine lists the top 500 zip codes with the most expensive real estate.  In 2010 five zip codes in Washington State made that list.  Can you guess which ones?

Rank  City            Zip Code    Median Price   Inventory   Median Income

42       Medina                98039      $2,170,308.    60              $ 132,665

228     Mercer Island     98040      $1,003,328    185             $    91,904

247     Bellevue               98004      $   952,566    447             $    63,358

444     Sammamish       98075       $   664,223    179             $ Not Avail.

477     Fall City              98024       $   594,747      94            $    62,076

You can get more information by following the link to the Forbes Article by clicking here.

I think these numbers will come as a surprise to many people.  When I am showing homes in Fall City and I ask my clients what they think the median house price is in Fall City, unless they have done their research, most of them underestimate the number by almost 50%.  In my opinion, it is because they do not understand the boundaries of the zip code and most of the homes that are higher priced are not in the downtown core.

What we enjoy about Fall City is the diversity of housing stock.  There are modest mobile homes on leased land and also large homes on acreage.  Fall City also has one of the largest collections of historic homes in unincorporated King County.   We have homes on lakes, rivers, acreage properties and view properties. There is truly something for everybody.  If someone wants to take advantage of the great community, excellent schools, scenic beauty and recreational opportunities nearby, they do not have to spend a lot of money to live here. On the other hand, if someone is looking for that signature property we have those, too.

We love to help people discover some of the hidden attributes of this community that make it a great place to live.

King County Comprehensive Plan to allow more development before making traffic improvements?

October 7, 2007

This is an interesting Seattle Times article regarding proposed revisions to the King County Comprehensive plan. They want to allow development even when congestion is at level E, in a scale from A to F. This is a radical change that eliminates traffic concurrency in my opinion.  You can find out more about the 2008 revision to the comp plan here.  The good news They are looking for comments from citizens.  The next local meeting is October 11, 2007 at Cascade View Elementary School 6:30 to 8:30 PM.

Tearing Down Library before Having Permits to Rebuild … Good Idea?

June 15, 2007

Fall City Library Groundbreaking Ceremony

 

As a real estate agent that works with clients who own real estate in the Snoqualmie Valley, including Fall City, Carnation, Snoqualmie, North Bend and Duvall one of the tips we share with our clients is to make sure you have permit before your start your work, or tear down an existing building.  Why?  Because it is easier to get permits to remodel than to build new and in some cases your building may be grandfathered in, and with new rules you may not be able to build what you want where you want.

 

The Fall City Library has been torn down, and they held the groundbreaking June 13th 2007.  The Director gave a speech and said that they do not have permits to rebuild the library yet.  What a waste.  The Fall City Library has been moved into a cramped temporary location for the summer, when the kids are out of School and could be using the old building.  Now the time line for the new building is up in the air, and the level of service that the library system can offer in the mean time has been reduced.  It sounds like poor planning to me.  

In Fall City, The Colonial Inn Restaurant was purchased and the new owners started to do some updating, when the Seattle King County Health Department decided that they needed to update the septic system before they would sign off so that they could get a permit from the Department of Development and Environmental Services to remodel.  They have been closed for a year and a half so far.  The word is that they have come up with a solution for the septic system but now they are waiting on the permit to remodel.  Wouldn’t it have been nicer for the owners if they had been able to be open during this time? 

Lets take a look at two parcels of land.  One piece has an old mobile home on it, that will reduce the mitigation fees for the buyer, and one had an old house on it that was torn down and not replaced.  If they were the same price which one is the better value?  Well the one with mobile home has the potential to be rented out while the new owner goes through the permit process for their new home.  The mobile will also have lower mitigation fees that should more than offset the cost of removing the mobile.  As for the other piece of land, if they had not torn down the old house was there they could go in for a remodel permit, but now they have to start the process from scratch and do not have the benefit of having a house to rent out while they work out the details with the county.  So in my opinion the lot with the mobile becomes the better value.

 

What does this have to do with you?  If you have an old cabin, house or out building on your property that you think does not add value to it and you are getting ready to sell, do not tear it down before you check with your agent for advice.   You could always leave it up and if the buyer wants it taken down negotiate it.  By having an existing dwelling on the property it could reduce the school or road mitigation fees for the buyer, and could let them build in an area of the property that otherwise would be off limits.  So don’t assume it doesn’t have value.  Make sure first.   

John L. Scott introduces “Neighborhood Wizard”

June 7, 2007

John L. Scott just introduced it new “Neighborhood Wizard”.  Late last night John L. Scott introduced the new neighborhood wizard on their web site www.johnlscott.com.  The neighborhood wizard enables consumers to customize their search on an interactive map by drawing the shape of the search area with thier mouse.  Before the introduction of this mapping technology, consumers were limited in the search by town, zip code or were able to search a box shape on a map.  Now they can really limit thier search to the areas that they are really interested in.

 “The Neighborhood Wizard is an incredibly useful, intuitive, and innovative approach to searching for residential real estate online. John L. Scott continues to lead the industry with technological advancements such as this, and all of which their customers benefit from immensely. The combination of Microsoft Virtual Earth and the ability to specify polygonal boundaries for searching surpasses the local competitor’s offerings hands down.”            -Chris Pendleton, Virtual Earth Technical Evangelist, Microsoft Corporation  

This new feature will help our customers keep track of the neighborhood they live in or want to live in.  They can track homes that are for sale, as well as see what homes have sold for.  They can also be alerted of homes for sale in the area via email with the property tracker function.   Once you have selected an area you can also get detailed view of the area out using Microsoft’s birds eye view.  Give it a try and let me know what you think of this new technology.    You can try the Neighborhood Wizard Here.

 

I am an Associate Broker, and an Acredited Buyer Representive and work with my wife Kristin as a real estate team with the South Bellevue Office of John L. Scott.  I started my real estate career in Fall City with John L. Scott in 1990, and we specialize in Snoqualmie Valley Real Estate.  Kristin is also an Accredited Staging Professional . You can vist our web site www.johnlscott.com/allenm.

About John L. Scott Real Estate:John L. Scott Real Estate was founded in 1931 and is currently led by third generation chairman and CEO, J. Lennox Scott. With over 52,000 closed transactions last year, John L. Scott grossed more than 18 billion dollars in sales volume, making it the fourth most productive regional real estate company in the nation. John L. Scott has 143 offices and over 4,700 sales associates located throughout Washington, Oregon, and Idaho. The award-winning website, www.johnlscott.com, receives over one million user visits a month producing over nine million listing views.

  

40% More income required to purchase Snoqualmie Valley Homes from 2003 to 2006

May 20, 2007

According to an article in today’s Seattle Times article titled The disappearing $300,000 House… and other  surprising facts, “From 2003 through 2006, just three areas required income jumps of 40 percent or less to keep up with rising house prices. Those are Duvall/Snoqualmie Valley, Covington and S.I.R./Lake Morton. The last required 24 percent more income. Modest house-price appreciation is the reason.” 

This is interesting to me because as we know that housing prices have been going up through out King County this is the first article I have see that translated the increased cost of housing to amount of increased income required to make the purchase.  They have a lot of other interesting information in the article.  Please take a look at  it and see what you think.  I am interested in your perspective.