The Original Trilogy at Redmond Ridge Market Report – September 2017

D. Sanford NW Market Reports , Real Estate , Real Estate News , Trilogy Market Report Leave a Comment

The Original Trilogy at Redmond Ridge – September 2017

Compliments of Your Neighborhood “Premium Service” Realtor

10 Sold Amid September, Seven Impending & Nine Active
               How to Prepare for Life After Trilogy
                          Seller Beware of Post Cards Out There
                                   Count on the Elephant to tell it like it is!

10 Take Title to Trilogy Abodes

Here’s what sold Last Month!

  Model Original Asking Price Asking Price when Sold Final Sale Price Days on Market Northwest Multiple Listing Number
1 Discovery $598,000 $598,000 $618,000 5 1172507
2 Discovery $610,000 $610,000 $635,000 1 1183604
3 Union $650,000 $650,000 $680,000 4 1173682
4 Whidbey $680,000 $680,000 $690,000 4 1179033
5 Whidbey $698,000 $698,000 $690,000 22 1178857
6 Cedar $899,000 $799,000 $784,000 31 1160313
7 Maple $985,000 $915,000 $900,000 95 1125041
8 Monticello $975,000 $975,000 $960,375 38 1176397
9 Hemlock $1,150,000 $995,000 $975,000 28 1149799

 Home in Bold & Green; the Elephant Serving Sellers!

Sales slid about 23% from August as the month finished with nine sales closing Escrow. That’s not too bad considering the typical slow for this time of year. However, the buzz around the Realtor community is that traffic is very slow and listings are taking longer to sell, even in the lower price ranges. The homes closing in September went under contract many weeks ago. Refer to “Pending” sales below and we find longer days on market and even more when we observe the “Active” chart. The 13 sales in August took an average of 11 days. September averaged 23. The good news is, as the upper end has severely slowed down, Buyers are flocking to the smaller, more affordable homes, most of which sell for more than asking price. The average sale price of a home a month ago was $855,223. Today, it’s $799,738. Buyers are shopping longer and being more selective forcing Sellers to get back to reality in the top price ranges. The lower range will inevitably follow. It’s a more-fair playing field and Sellers no longer hold all the cards. Zillow is not the end all but they are the number one collector of real estate statistics in the country. A month ago, you could look up any address in Trilogy and the cold to hot market bar slid way right to red hot. Now you’ll find it’s cool blue, straight down the middle. It means we’re back to arm’s length transactions which will require Sellers to have attentive representation. Homes aren’t going to sell themselves anymore. I don’t recommend becoming a commodity; a number in long line of listings by a busy discount, listing collector with a butterfly net. You’ll need someone who markets YOUR property full-time and has the pace to uncover every stone or you may find your plans thrown off track. Give me a call. I’m here to make it happen.

BTW, the Elephant’s Monticello had been on the market with the local discount Brokers. When it hit 38 days, it went under contract. Later, the financing fell through. The Sellers weren’t happy and cancelled their listing. They called the Pachyderm and gave me carte blanche to get it done. I stepped up the cleaning, staging and presentation and, effectively, sold it full-price for $975K in ONE DAY. The Sellers were back on track. The final price of $960,375 reflects exactly a 1.5% break I gave the Sellers off my commission at escrow to meet the Buyers’ offer as I represented both sides; a well-handled phone call. Problem solving; it’s what I thrive on. The two homes in red, who signed up to save 2%, ultimately sold their homes for 13% and 15% discounts, respectively. If it sounds too good to be true, it usually is.

Seven Working Through Escrow

            Here’s What’s Currently “PENDING” the Close of Escrow

Model Original Asking Price Asking Price when Offer Accepted Days on Market Northwest Multiple Listing Number
1 Discovery $592,500 $592,500 10 1185172
2 Discovery $609,999 $609,999 5 1181399
3 Washington $660,000 $660,000 15 1193904
4 Bainbridge $770,000 $770,000 13 1185218
5 Oakwood $939,500 $939,500 29 1179273
6 Cedar $939,950 $939,950 4 1189572
7 Maple $949,950 $949,950 8 1185302

Home in Bold & Green; the Elephant Representing Sellers!

Pending sales are down 30% from a month ago as Buyers are taking more time with their decisions. The Washington plan is still pending a Buyer’s Inspection. We’re finding less Buyers skipping this step and being more cautious as they pay today’s prices and, for the most part, bidding wars have slowed. Exceptional or rare properties, regardless of price, continue to sell quickly with more interest and less contingencies. If your home is status quo, you’d do well to step up your presentation and make sure it’s priced accurately. It’s an intricate game right now for less than standout listings. Our Maple on Vine Maple Way is a bit far from the club but very well cared for, charming and has a good vibe. We accentuated the positives and knew what they were.

Nine Catting Around Flyers

Here’s what’s on the market for October!

Model Original Asking Price Asking Price when Offer Accepted Days on Market Northwest Multiple Listing Number
1 Orchard $595,000 $595,000 2 1200390
2 Discovery $648,000 $648,000 37 1196291
3 Union $648,800 $648,800 3 1199972
4 Washington $699,990 $679,000 38 1183003
5 Vancouver $739,950 $726,500 107 1145691
6 Vancouver $798,000 $798,000 28 1177680
7 Maple $919,950 $919,950 37 1184023
8 Hemlock $949,950 $949,950 20 1191812
9 Hemlock $960,000 $960,000 1 1200819

 Homes in Bold & Green; the Elephant serving Sellers!

Remember: This inventory is as of the last day of the month. Statuses have likely changed by the time you read this. We pull data after midnight the last day of the month then, analyze and report. It takes a bit of research. We share what is available at the first of the month for consistent and measurable month over month reporting. All currently available listings are posted at www.DevinSanfordHomes.com. Hover over the Trilogy tab and select “Current Trilogy Listings” from the dropdown list.

Smaller homes seem to be hitting the market in the third quarter where larger ones seemed to have been capitalizing on record asking prices earlier in the year. The deal of the century is the Vancouver, Trilogy’s largest two-car garage, stand-alone home and it’s on a cul-de-sac greenbelt. If you’ve got a friend who likes or is willing to change out attractive Formica Kitchen Counter-Tops, it’s a ton of home for the money and ready for a quick closing. The 2,360-square foot, Greenbelt Maple plan is under $390.00/Sq. Ft., boasts loads of hardwoods, built-ins, upgrades and a 2017 exterior paint job. Our Golf Course Hemlock is close to the club, very posh and sits on the 12th “T” of Trilogy’s signature hole, away from errand golf balls. There’s a huge side-yard for lawn games or picnics and it’s maintained by the Association, a real bonus.

Preparing for Life After Trilogy

During my 14 years serving Trilogy, there have been many paradigm shifts. Of late, many of the early onset Buyers have come to the realization that nothing lasts forever. They’ve begun to migrate to less square footage and upkeep and more immediate available health services. Communities, mostly multi-level units, with varied level of care and activities have been accepting more and more of our Trilogy graduates. The likes of Emerald Heights in Redmond, Timber Ridge in Issaquah, Hearthstone in Seattle and several others are becoming more attractive to many of our beloved members. They offer independent living with a multitude of activities, cafés, salons, wonderful meals, memory care and various levels of assisted living. This allows many the peace of mind to know they can still enjoy a vibrant lifestyle but don’t have to carry the burden of what it takes to maintain a large home and property.

Unfortunately, it can be overwhelming; the whole move thing. Believe it or not, it doesn’t have to be so stressful and the Elephant is an excellent guide. I’ve helped many with such transitions and have surrounded myself with wonderful vendors to help with each facet of making just such a move. How do you eat an Elephant? One bite at a time and it can be fun. However, before you begin, consult to prevent yourself from needlessly getting worked up. It’s okay to ask for help. Of course, you can begin to purge obvious junk from the garage or closets. You can nibble away at that an hour or two here and there but, before you go any further, give me a call. There’s a process and I’ve got it down. Secondly, barring obvious junk, don’t throw anything away. We’ve got people who can help you decide what to keep and then get a good price for what you don’t and they don’t charge an arm and a leg. This can help pay for moving and packing. Again, consult. We’re familiar with the large deposits needed to secure a unit in one of these communities and we know many of you will need the proceeds from the home your selling before you can move in. You’ll need top dollar and our Six Star service can provide it. Don’t worry. We know the process and we can work with any timing. If you’re looking at just such a move, we’d be delighted to meet with you and put your mind at ease. You can do it. We can do it together.

Post Cards or Mendacious Boast Cards

First of all, allow me to apologize for even bringing this up. I’m inherently, a protector. I began to report monthly in Trilogy many years ago; to provide you with facts and valuable information you can rely on. Yes, this is how I make my living and I hope you recognize the different way in which I do it. I report but never without charting and storing every single statistic first so I can back what I put before you. I value the competition and get along with them well. They keep me sharp but it’s my inherent responsibility to make sure you’re getting the straight scoop.

A recent Real Estate Team post card boasted “top sales prices for our listing clients” and “an average sales price of over $475.00 per Square foot for their listings sold in 2017.” It’s not accurate. Of the 80 Trilogy sales year-to-date, only four have surpassed that dollar figure. A “Nice” floor plan sold for $475.50/sq. ft., listed by the advertisers. I brought the Buyer in a bidding war for an extremely rare availability. Only three Nice plans have ever been Resells. That is the only listing meeting their claim. It was one of their five total Trilogy listings sold for the year which averaged $417.59 per sq. ft., a fairly common occurrence. The Snow-Birders have not closed a listing since June. They spend part of their year out of state. The second home over the $475 mark, was a Townsend which closed August 30th for $487.66 marketed by the yours truly. The third was an opulent Vashon listed with a Windermere Broker, which set the $500 bar on August 18th and the fourth, also closing in August, was an Oakwood at $484.63. It was a Shea Homes Luxury Tour specialty home, not listed by our claimants. The home was way beyond builder grade. Readers, if you think you’re going to get $475.00 per square foot or more for your home, I’m not going to say it’s impossible. It happened 5% of the time in 2017; once by our puffers. I’ll continue, as always, to deal professionally with every broker as they have done with me. I will, also, make known untruths so our Members are not misled. Elephants prefer to walk a straight line.

Here’s a Recap of Year-to-Date Sales:

*New Days on Market (D.O.M.) Watch!

Jan. Feb. March April May June July August Sept. Oct. Nov. YTD:
$old 6 6 4 7 13 9 12 13 10     80
Pending 9 3 5 12 7 12 13 13 7      
Active 2 3 5 1 2 8 4 10 9      
$old D.O.M. 41 55 28 5 9  

11

 

8

 

11

 

23

    *NEWER STATISTIC

That’s a wrap for September. We hope these facts have been helpful. We measure our success by how well we serve others. If you have a real estate need, please, give Devin a call. (425) 501-8424

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About the Author
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D. Sanford