Trilogy at Redmond Ridge‘s Most Comprehensive Market Report brought to you by: www.DevinSanfordHomes.com
The RESULTS – for December and 2012
Four homes were $old during December, two fewer than November
|December 2012 Sales
|A Madison on Twinberry Way selling after 33 days on the market
|A Division Nine Hemlock selling after 221 days on the market
|A Cedar selling after 203 days on the market
|A Monticello on Twinberry, on the market 4 days – sold in 96 hours for 98.8 percent of asking price was our listing, and our sale
All were “arm’s length” transactions. That means they were not “distressed,” a short sale, estate sale or foreclosure. Arm’s length transactions provide good data to calculate a price for similar homes in a reasonably stable market.
Sometimes a home listed by broker without solid experience in Trilogy sells quickly, but at a price that’s really unfair to the seller and neighbors who themselves might put their home on the market. Maybe the broker just wanted to bank a commission and traded price for effort.
I believe that when you put out that “for sale sign,” you are seeking a return on investment as you sell your greatest asset. It’s a professional’s job to represent you, a business choice. It’s not enough to just hope that a friend or relative, or someone from your club or church, can get you the return on your investment that you soon will need to use again.
Make the broker earn it. If you have a single sheeted, floppy flyer and a sign in your yard, well, that’s about all it takes to give away a home in Trilogy. A fair price is the result of a broker’s investment in time, effort and sometimes sweat. It always means a dollar investment by your broker to produce the highest quality flyers, buy effective advertising, properly stage the house and be sure what ever maintenance is necessary to pass inspection is performed.
I have a list, 20 or more items, to check off before and after that sign goes up. Call me. I’ll be happy to talk about it. No obligation. Even if you’re not selling, it’s good to know about the process.
There are six “pending” sales at month’s end. One is a “short sale” of a Union on Big Leaf Way that has been pending inspection since last March. Others include an Orchard, an Angeles (Shea’s smallest at 1,210 square feet), a Townsend, a Whidbey, a Vashon and a Washington. The Whidbey and Washington are Shea “Designer” residences which had 335 and 704 days on the market. The Vashon, a golf course property priced at $479,000, was the only contract reached in December.
Data on Sales of new builds
As December ended the County reported excise tax on 17 newly completed Trilogy homes bringing the total to 43 for the year. Shea was really humping it to wrap that many new builds up and get them through the escrow process. According to the Northwest Multiple Listing Service, Shea sold 10 spec houses (“Designer Homes”) in December bringing the year’s total to 53.
What is currently available?
There were nine resells available Jan. 5 including a Washington and a Whidbey which have been on the market a long time. The others all are Forest and Estate Collection residences beginning at $639,000. My guess is that the Whidbey will sell very fast because it is priced very aggressively at $479K and THERE IS NO COMPETITION. If you are considering selling your smaller home, it’s an incredible time to ask top dollar. Give me a call to learn what steps to take next.
Year End Results
There were 87 Resale homes sold in 2012…9 more than 2011, up 11 percent
13 Lakes Collection Sales included 6 Chelan, 4 Union, 1 Sammamish, and 5 Washington floor plans. Five were Arch, or affordable, residences. None were foreclosures or short sales. Prices ranged from $250K to $359K.
23 Port Collection Sales included 5 Townsend, 6 Discovery, 8 Orchard and 4 Madison models. There were 2 Short Sales and 2 foreclosures Prices ranged from $260K to $407.5K.
19 Island Collection Sales included 7 Vashon, 10 Whidbey, 4 Bainbridge and 2 Vancouver models, 1 Short Sale and 1 foreclosure. Prices ranged from $300K to $524K.
21 Forest Collection Sales included 12 Hemlock, 9 Cedar and one Alder models. Of these, 2 were Short Sales. Prices ranged from $535 to $669.
11 Estate Collection Sales included 4 Monticello, 2 Oakwood, and 5 Maryhill models. Of these, one was an foreclosure. Prices ranged from $612.5K to ONE MILLION SEVENTY FIVE THOUSAND DOLLARS ($1,075,000.00.)
There were 10 New Construction Spec Houses. They included 3 Washingtons, 2 Vashons, 2 Hemlocks and 1 Cedar, 1 Bainbridge and 1 Whidbey. New houses averaged 249 days on market.
Shea closed 43 “new builds” or houses built from the ground up, primarily higher priced models. Shea spent a lot of effort publicizing, and selling out, a new hyped-up plan called the Nice. Several were built in a row, once a forbidden practice by Shea so a neighborhood wouldn’t look like a collection of “row” houses. Also, the idea was so that one new owner wouldn’t find their patio next to a neighbor’s patio.
Formerly, only the Forest and Estate collection houses were allowed to have two of the same floor plan side by side. Shea’s then policy required that they had to be different elevations and never with adjacent courtyards or patios.
Shea is down to a handful of Forest and Estate lots and is totally out of the Port and Lakes Collection lots. That means a new house will be costly unless you are willing to accept a view from your living area of a 20-foot high concrete wall in an Island Collection house. And, sometime in the next few months I expect one of Shea’s representatives will announce that Trilogy is sold out.
Attribution: Those are the best figures available of Northwest Multiple Listing Service records as 2013 begins.
- 2012 Trilogy Sales Total: 140 closed sales
- 87 Resale homes
- 10 Spec houses
- 43 New builds
Of the 87 resales five were ARCH homes, five were short sales and four were REO/Bank Owned properties.
Trilogy is a little ahead of the national curve as we continue on a slow steady recovery of the housing market.
Looking back, there were 62 resells in 2010 which doubled the previous year’s figure. There were 74 in 2011 and this year had 87. New home sales increased exponentially in 2012. There were virtually no spec house starts in 2011 and almost no new builds. Trilogy’s 43 new builds – construction for a customer under contract – blows the ceiling off national construction figures which enjoyed a 26 percent increase.
My thoughts as 2013 begins:
Shea will have to dress up many of its remaining couple of dozen or so spec units by enhancing landscaping and interiors. A publicist can paint with words but buyers want to see, and to go through a house to get its “feel.” You know, like you can when you buy a resale.
If Shea does spend the money up front, its last lots might go quickly with completions in early summer, perhaps a few left over to be sold in about 12 to 15 months.
As far as resells go, it’s reasonable to expect a 10 percent increase which would mean almost 100 for the year. That’s because a fairly significant number of long-time Trilogy members are moving on toward assisted living and others just want a change. Statistics predict the average home owner sells about every seven years.
Expect more interior customizing. The first-built Trilogy homes are almost 12 years old and some might require significant maintenance and upgrades. Some new buyers enjoy doing that but others want it “turn key” when they sign the papers. Trilogy Members are an eclectic group increasingly from the “baby boomer” age group. That might be just what’s needed to keep the community vibrant, interesting and “hip.”
Bridgette and I have enjoyed great rewards because of the experiences we have shared with so many different people from so many parts of the world and from so many and diverse walks of life. We’re passionate about our resolve to learn more and better serve those with whom we work.
We’re grateful you took the time to read this and more so because so many of you have visited our open houses and have mentioned our messages. Our open houses typically attract 35 to 55 visitors, up to five times the number brokers usually expect. We welcome your visits and sharing your ideas about the Trilogy market.
Finally, some special thanks for all of you who helped us to become recognized as Five Star Professionals during our very first full year of serving as private brokers since I parted with Shea Homes. You can find the article at newsstands now in “Seattle Magazine’s Best of 2012 December Edition.” We look forward to improving our services in the coming year. In the meantime, here’s to a healthy and happy 2013.
If there’s one thing we’d like you to remember, it is:
“We don’t care how many we sell; we care that we serve you well.”
Devin & Bridgette Sanford
Cellular and Text: 425.501.8424
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Here is how we do it, reasons to consider allowing us to help you sell or invest:
With more than five years as a top community representative for Shea Homes I understand the Trilogy at Redmond Ridge product better than any other resale broker. Those years of experience in dealing with Trilogy homes from the ground up allows us to build more value into your home resulting when you choose to sell, and in negotiating for you a top dollar sales price. It also means we can get you through the critical home inspection process successfully. For Buyers, you’ll have a total understanding of how your new home functions and of the features that make your home or location more valuable than other homes you considered.
- Full-Time Licensed Broker Since 1999, and with Managing Broker designation.
- Serving Trilogy at Redmond Ridge Members since January 2004, with more than 200 Trilogy homes sold.
- Former Designated Broker & Lead Community Representative.
- Most Experienced Trilogy at Redmond Ridge Resale Broker! No Other Resale Broker Has My Trilogy Product Knowledge, Period!
- Five Star Zillow Agent
- Complimentary Pre-Home Inspection Service – I’ll help you eliminate inspection items from ever making the inspector’s report.
- Complimentary Home Preparation Assistance & Home Staging – We roll up our sleeves for you.
- High Definition Photography of your home for print & online advertising.
- Highest Quality Flyers in Trilogy (4 Sided, Full Color, Fold Out.)
- Multiple Websites to expose your home to more buyers.
- Full Time Marketing Expert, so you get TWO for ONE!
- Contractor Referrals with preferred client care.
- Open Houses & Community Tours For Buyers Interested In Your Home. When people truly know about Trilogy, they want to live there. It’s the same with your house!
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