Trilogy at Redmond Ridge‘s Most Comprehensive Market Report brought to you by: www.DevinSanfordHomes.com
Temperature and Sales Both Drop in Trilogy at Redmond Ridge!
An accurate and comprehensive market report requires hours of research and analysis. That and our good fortune in serving many couples delayed this month’s report. Let’s begin with the most important figures:
More Trilogy at Redmond Ridge houses were sold in previous months than the seven in October. Because there are fewer homes for sale, seven is a pretty good number, especially when you consider seven is more than half the resells on the market a month ago.
But it’s hyperbole, peddler’s rhetoric, to say people are breaking down the doors to get into Trilogy at Redmond Ridge. The numbers don’t support that. I use the numbers reported by the Northwest Multiple Listing Service and King County in determining what is really “sold.”
It’s not really an obsession, all my harping about what’s really “sold.” “Sold” means money has changed hands and the new owners are listed on King County’s tax rolls. Pending means closing will follow inspection, confirmation of a mortgage or the waiting for the ritual of signing all the papers, transferring money and telling King County that there are new people about to pay the taxes.
“Sold” does not mean a developer’s hopeful thinking.
Here’s an example:
A few Sundays ago I put a “for sale” sign in front of a Monticello and held an open house. Before I could pass out the first brochure or cookie an offer had been made. It was for the full asking price, for cash. The inspection was complete and now the sale is pending. But, until that ritual where papers are signed, money changes hands and King County registers a new taxpayer for the property, I can’t count it as “sold.” If I did, it would be like a developer which a month ago said it had only 18 lots left to sell before the project would be fully built out. But this month, the developer says there are 23 unsold lots and that many previously sold homes can’t be closed because weather conditions have delayed construction. So, no sale.
Whether you are selling or buying until that closing ritual is complete, your broker has responsibilities and obligations to keep the process going. There are no bragging rights until then. It is, after all, Trilogy at Redmond Ridge, not Brigadoon where you could expect buyers to come in and out of the mists.
About those seven sales:
It had to happen, price stability. Let us rejoice.
Low inventory and a limited number of new builds being finished just cannot produce large numbers of sales. There are only so many pocket listings. That’s when a broker is selling a property before it is listed with NWMLS. So, why is there all the excitement about those seven sales?
Price. Good for you, Trilogy members. Sellers aren’t giving away their homes and they are energetic about preparing their homes for the market
A home worth its asking price:
Recently, I placed a Bainbridge on the market for $629,000. That may seem a bit high. It is not. Could I have listed it for less? Of course, but, that would make it low hanging fruit and quick sale or not, I’m still obligated to get the best price possible for the seller. I think you would agree that it is the responsibility of a broker. Part of my obligation to those with whom I work is to analyze the market every day. Within a few days after the Bainbridge went on the market, other Trilogy brokers hiked the price on three of their homes by $10,000. Two were recent listings, one from almost a year ago. Two now are sold.
This particular Bainbridge is overall the nicest to be listed in at least four years! Four Bainbridge models were sold in 2009, three in 2010 and another three in 2011 and so far this year. None hold a candle to this one and all sold in a much weaker market.
More than a year ago Shea’s original Bainbridge Model built in 2002 was listed for $630,000. It sold at the market’s low point. Its counter tops were ceramic and its back yard was shallow. Yes, it was close to the Cascade Club. So is our Bainbridge which is currently listed for one-thousand dollars less in a strong market. It backs up to one of the most beautiful forests in Trilogy. The county trail is right behind it and the home is on a virtual private road. There is no traffic behind the master suite, the fifth green is across the street and it’s exactly half a mile, by sidewalk or trail, to the Cascade Club.
The home is relatively new. Its owner, a single, employed person, enjoys granite counter tops and hardwood floors plus stainless appliances. The deck is private except for a lot of wonderful birds. The price is reasonable for the value. Tell a friend about the nicest Bainbridge location in years; they’ll praise you.
A home priced far too low:
A Vancouver in Division Six sold recently for $422,500, not much below its asking price of $425,000. About all the seller did was stick a sign in the ground with an amateurish brochure. Of course a buyer appeared immediately. It was low-hanging fruit. It also was a disservice to the seller. Right now there’s a very similar Vancouver priced at $125,000 more. It’s pending. The agent raised its price by $10,000 when my Bainbridge went on the market.
The morale of the story is: hire a professional, not someone who simply holds a real estate license. A professional is someone who also holds a conscience.
My Bainbridge? I personally, washed the skylights and windows; pressure washed the entire exterior of the home, the deck and the driveway and staged the entire home. No cost to the seller. The flyers and massive internet marketing are not cheap but I’m invested right along with the Seller. We’re in this together. When it sells I’ll be compensated well and the expenses are tax deductible. As for the sweat, it’s called “service.”
Briefly…here’s a roundup of Trilogy activity
The seven homes sold included: Orchard, Washington, Whidbey, Bainbridge, Vancouver, Hemlock and Maryhill models. All were resells. The incredible statistic: they averaged 31 days on the market. I believe that if a home is on the market a long time, the problem is either price or presentation. In Trilogy at Redmond Ridge, where there’s a uniformity of excellence in maintenance for exteriors, the difference is usually presentation and marketing.
Lowering the price or changing agents won’t necessarily fix the problem of too-long-on-the-market. Too often, the new agent is probably doing the same thing as the old, nothing.
Sales of new builds include the home on Lot Five in Cedar Heights (Division 10) which has closed escrow which means Twinberry Way should just about be complete. The County reported as November began that it was collecting excise tax on four new construction homes bringing the total to 31 for the year. For the year so far, 78 resells have closed escrow. The total as November began was 109 true sales. Shea predicts it will close another 20 between now and Dec. 31. I’m optimistic about resells.
As for “pending” sales, at month’s end, two were pending inspection and eight more had passed. One Alder resell is finally pending after nearly 14 months on the market. It’s a beautiful home. Its price was dropped five times. A professional presentation and skillful marketing might have reduced the “on the market” time. Two new construction homes are pending. One, a Whidbey, was on the market 768 days. The other, a Washington, 335 days.
What is currently available?
There were 12 Nov. 1. A dozen days later there are 10. A Monticello and Washington are “collecting dust” but everything else has been for sale 90 days or less. There are two “designer” homes. Their average time on the market is nearly 15 months. And, I know of a handful of those so-called “pocket listings.”
Summary
All is well and fine in Trilogy at Redmond Ridge for now. Pricing is stable, and turnover is steady. The average home has been selling for 98.74% of asking price. I think many sellers are wise about pricing as they present their homes. Some might be too optimistic. My counsel to Buyers would be to stay alert to opportunities to get good value for your investment.
I expect interest and traffic for the rest of the year.
If you are thinking of selling, call. No obligations. We’ll be happy to go into great detail about how we work, and sell, almost always at full price and within a reasonable time. It’s not something I’ll share with the competition but if you are selling, you need to know how we do it if for no other reason than to help you make comparisons. One of our most recent successful sellers interviewed nine agents. See her review and many others on our website.
Sometime soon I’ll tell you about “The inspector from hell; he could just ruin your dreams.” It’s good fun, and part of a larger project now under way.
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 Sanford & Team
Five Star Real Estate Agent
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Buyers & Sellers….who you work with matters!… Contact The Devin Sanford Team, and schedule a private appointment. We look forward to hearing from you.
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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.
EXPERIENCE
- 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
SERVICE
- 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!
Checkout what are clients have to say about us
on our Real Reviews page
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