July 2019 Review of Trilogy at Redmond Ridge

July Gently Gleans Eight Grinners. Nine Lives in Escrow Limbo. 90 Days Pondering Prospects…

July Generates Eight Closings

Here are the Eight Homes that Closed Escrow during July!

  Model Northwest Multiple Listing Number Original Asking Price Asking Price when Sold Final Sale Price Days on Market
1 Chelan 1443692 $510,000 $510,000 $510,000 45
2 Union 1465031 $639,000 $639,000 $622,000 23
3 Townsend 1477733 $638,950 $639,950 $639,000 7
4 Bainbridge 1452810 $760,000 $760,000 $740,000 39
5 Whidbey 1447303 $775,900 $775,900 $790,000 10
6 Bainbridge 1427262 $849,000 $835,000 $831,000 68
7 Bainbridge 1478228 $838,000 $838,000 $838,000 2
8 Cedar 1403245 $1,039,000 $997,500 >$997,500 110

Homes  in Bold & Green; the Elephant Representing SELLERS!

Our Trilogy Market has made a small pricing correction. Recently the Pachyderm listed four homes in the Forest Collection, sharing with each Seller, I wasn’t sure if my usual optimistic asking price would hold up like it usually does.  It’s not a  normal listing conversation as I take great pride in pricing perfectly and proving it, but I felt it necessary. Nobody likes surprises. They’re all lovely homes but, after the old college try, it seems a cool million dollars isn’t so cool anymore. One dollar less and, okay, Buyers aren’t so nervous. The Fabulous Four  all adjusted their prices. Two are in Escrow and the others are seeing much more action. All other Forest Homes in the same price range have succumbed to price reductions.

Exceptional properties still sell quickly and can even generate a bidding war between two or slightly more Buyers. The Whidbey was an exceptional property. White and Modern are the new fad, along with light grays. The Mountain Views didn’t hurt this Posh home moving in 10 days. The Bainbridge shared the more popular light and bright, empty palate presentation and popped in two days. The real draw was its location within the old Model Gallery, adjacent the indoor amenities.

 Nine Lives in Escrow Limbo…

Here’s what Uncle Sam is waiting to collect taxes on…

Model Northwest Multiple Listing Number Original Asking Price Asking Price when Offer Accepted Days on Market Remarks
1 Orchard 1487489 $629,000 $629,000 3 Custom Upgrades/Attached
2 Orchard 1475502 $710,000 $690,000 27 Unattached
3 Whidbey 1146286 $725,000 $699,950 86 Not Staged
4 Vancouver 1482649 $715,000 $715,000 3 Modest Upgrades
5 Vashon 1482637 $719,000 $719,000 4 Custom Doors & Millwork
6 Maple 1494074 $898,000 $898,000 1 Estate Sale Giveaway
7 Hemlock 1435984 $1,025,000 $969,950 107 Gorgeous Interior- Backyard Rockery
8 Maple 1475454 $999,000 $989,000 75 Corner Greenbelt
9 Maple 1459812 $1,275,000 $1,199,000 68 Golf Course Home

Remember, Pending Sales are as of the last day of the month. It’s an accurate way to review sales month over month.

Home  in Bold & Green; the Elephant Representing SELLERS!

It’s not hard to see, the homes priced under $800K move much faster than the rest. Throw out the Estate sale of seemingly unattached Sellers and you’ll find anything over $900K has had a price adjustment. I applaud those Sellers. We’re in the middle of it and you didn’t hide your head under the covers hoping the Boogie Man would go away. He won’t. My personal experience has been, for those of you who made the slight market correction, you’ve  been rewarded with a  full-price offer. Buyers aren’t mean and they’re not dumb either. They just want a fair deal according to what they see happening in the marketplace. They’ve been shopping in for  a while.
18 Sellers Waiting Diligently…
Trilogy Inventory as of July 31st, 2019

Model Northwest Multiple Listing Number Original Asking Price Current Asking Price Days on Market Remarks
1 Townsend 1490020 $555,000 $555,000 14 Attached/Near Club
2 Vashon 1473402 $679,000 $665,000 41 Near Club
3 Sammamish 1459868 $718,000 $695,000 75
4 Vancouver 1466825 $779,000 $699,000 316 New D.O.M. Record?
5 Washington 1436460 $734,000 $724,000 113 Newer & Near Club
6 Whidbey 1488322 $775,000 $775,000 20 Elephant Listed Before
7 Bainbridge 1441906 $815,000 $799,000 104 A Greenbelt Sleeper
8 Alder 1422444 $978,000 $875,000 139 Greenbelt Home
9 Maple 1468556 $899,995 $899,995 59 Division 1
10 Cedar 1482523 $948,000 $898,000 20 Backs to Parkway
11 Cedar 1481171 $999,000 $975,000 35 In the Hood
12 Cedar 1443578 $1,039,950 $998,000 99 “Best in Class”
13 Hemlock 1487155 $999,000 $999,000 20 Greenbelt Homesite
14 Hemlock 1469288 $1,195,000 $999,950 267 No Comment.
15 Maple 1469154 $1,099,000 $1,049,000 57 Longest Driveway in TRR
16 Hemlock 1445274 $1,079,950 $1,049,000 85 Temporarily Off Market
17 Monticello 1410259 $1,165,000 $1,049,000 156 Greenbelt Home
18 Maple 1494350 $1,100,000 $1,100,000 7 Golf Course Home

Remember, this inventory is as of the last day of the month. It’s an accurate way to review sales month over month. Homes in Bold & Green; the Elephant Representing SELLERS!

90 Days Pondering Prospects

Three Months is the Average New Market Time…
When will they come? If you peak at the Recap below, you’ll see that the time on market has crept up steadily over the last five months, reaching exactly three months on average during July. There are three types of Sellers in this world; those who make things happen, those who watch things happen and those who wonder “what happened.” The Elephant nudges his trunk into Sellers behinds ever so gently saying “let’s make it happen” if a price correction is in order or perhaps, they need to be more flexible with showing times.

I do my part too. For Brokers, it’s much more than cleaning, staging and hanging a flimsy flyer out front only to experience waiting, waiting and more waiting for a Buyer to trip and bust open a briefcase full of cash . It’s being on top of things every moment, calling, texting and emailing every Broker who has shown interest in your property. We must turn over every stone, building Broker to Broker relationships and trust along the way. Anything  less than a rare or exceptional home does not sell itself anymore. We need to find out what would make their Buyer happy and work with our Sellers to make it happen.
Here’s a Recap of Year-to-Date Stats:
*New Days on Market (D.O.M.) Watch!

Jan. Feb. Mar. April May June July Aug. Sept. Oct. Nov. Dec. YTD
$old 2 4 8 10 4 6 8 42
Pending 5 5 11 4 5 7 9
Active 9 8 12 20 19 19 18
$old D.O.M. 3.5 42 52 36 7  65  38
Active D.O.M. 87 95 52 53 69  78  90

Would You Like to Invest in a Tubed Charlie Bar?

I did! If you’re like me and mine, you like to sleep well at night and, when you’re away, you don’t want to worry about break ins. Recently, I added a terrific and inexpensive theft deterrent to my windows and sliding glass doors. It’s a flip-down security  bar & bracket that prevents thieves from jimmying or shaking a window open. They install in minutes and they’re a whole lot more attractive and reachable than that stick you’ve got jammed in there. If you’d like a few “Tubed Charlie Bars” of your own, call Scott Harlan. He’s a down home guy with down home prices and excellent service for all your Locksmith needs.

That’s a wrap for July 2019!

We hope you’ve found some value in this report and we thank you for reading!

The Pachyderm and Support Team

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Managing Broker

425.501.8424 | [email protected]

700 110th Ave NE, Suite 270
Bellevue, WA 98004