Trilogy at Redmond Ridge‘s Most Comprehensive Market Report brought to you by: www.DevinSanfordHomes.com
Signs of Change in Trilogy at Redmond Ridge…
Anything can happen at any time and for any price.
Last Fall I wrote an article titled “Trilogy at Redmond Ridge is a mixed bag of nuts” and it is so true. It was all about why some homes sell so quickly and why others do not. The discussion included why some houses command so much money, and others just sit. September produced the highest sale price in years. But in September, a “short sale” at $280,000 fell through and the house was put up for rent. Also in September, Shea Homes finally accepted an offer on a “designer” home which had been on the market for more than two years.
Let’s look at some of the details, and some are very positive:
The month of September was very encouraging and full of surprises, even for me. I’ve shared my thoughts with several of you over the last couple of months. I said pricing was not only slowly on the rise but that there would be, perhaps, a temporary yet dramatic spike in home prices because of the lack of inventory and the stock market’s rise. Investors are opening their wallets.
In September, a Maryhill, high above the 14th and 15th fairways, listed for $1,075,000. It was sold, at the asking price, in just four days. I’ve seen nothing like it in five years. The home was listed and sold by two different agents whose names are new to me. The seller bought the house about ten months ago for $933,000. That’s a profit measured in six figures. The details are in King County records.
Here’s a little trivia. The most expensive home ever sold in Trilogy was a Maryhill which was part of the “Shea Homes Luxury Homes Tour” along the 17th Fairway and before the crash. It was sold by yours truly for $1,588,359.
I’ve been in the Trilogy at Redmond Ridge trenches for more than eight years selling both new and resell homes. It’s a cyclical business. Successful brokers develop, and nurture with facts and analysis a gut instinct about the market. Despite low inventory, homes are selling. The best ones, those that smartly priced, well-staged and solidly marketed, sell quickly. Others need patient owners, even if their home is a good property. Almost always the impediment to a reasonably quick sale at or near the asking price is because of the original asking price, or how the home is presented, how it is placed in the Trilogy at Redmond Ridge display case.
Presentation goes beyond how a home looks and what kind of curb appeal it might have. Presentation is how your broker displays the product, how energetic he is, and the style he has in showing it off with support from first class professionally produced promotional materials. That’s crucial since what a buyer might see and read on the internet or a brochure must be more than measurements and adjectives. A professional knows how to convincingly prepare facts and display the product so that a buyer is persuaded.
Trilogy at Redmond Ridge is a wonderful community with many desirable reasons to enjoy its life style. Shea Homes builds a good house. There is not a bad floor plan in the community and every home should attract a respectable offer. If yours isn’t, you might want to have a “bankers review” with those marketing your property.
My average home has sold in 38 days this year; our smallest a 1,436 square foot attached home sold for $349,000 in five days, our largest, a 2,675 square feet sold for $659,000 within 24 hours…a single day.
THE REALITY OF THE TRILOGY MARKET
Let’s go back to the spike in prices and numbers sold. I believe people have been deliberately delaying making a decision to sell and to buy. People have had fears about making or selling an investment of hundreds of thousands of dollars. The stock market’s improvement, continued low mortgage rates and a reduced inventory has produced an urge to invest in that perfect place to live.
When that house shows up buyers can be weary of the search and anxious about taking the risk of losing the home they want to a more willing buyer, or an anticipation of difficult negotiations. So now, instead of seeing that clenching of teeth and “let’s keep looking” expression, I’m hearing: “We love this house, dear, let’s just buy it.”
I’m confident many are ready, and want to, make the decision to build a new life in Trilogy at Redmond Ridge. I’m confident we are progressing toward establishing a ceiling as to how much each floor plan will bring. But, and this is important, that ceiling is based on three events in the sale of a house:
- Which homes actually pass the inspection
- Price and structure satisfy the appraisal process
- Escrow can close with delays
I know we’ve reached that ceiling number for many of the floor plans. I have the in-depth analysis information. Now my focus is working with my clients so that their property can display the best features and is in the condition to achieve that ideal ceiling when establishing the asking price.
Sales statistics, and just the personal statistics I keep, show that buyers seem most drawn to certain models. In the lower price range, three Orchards sold last month. They have either three real bedrooms or two bedrooms and a den. In the upper price ranges, if you have an Oakwood, Redford or Monticello, those are sought-after plans. If you own a BAINBRIDGE, you have a model that is in demand, but is scarce. Three have sold this year, and three last year. The Bainbridge has become a unique corner of the Trilogy at Redmond Ridge market.
There’s another sign on Sun Break Way, this time at the south end. The “for sale” signs at the north end are all gone, all four closed sales including mine at full price. The new sign at the south end just happens to be mine. It and the property are signs of change in Trilogy along with the departure of the four signs at the other end of the street.
About the time you receive this report, we’ll be presenting for sale the most incredible Bainbridge seen in years. This Bainbridge has two bedrooms, a real and functional den, a formal dining room and a kitchen nook. There’s more. It absolutely has greater buyer appeal than the Shea model which was listed for $630,000 last year. It had ceramic counter tops; ours has granite.
We won’t be quite that high even though our location sits on the most coveted greenbelt in Trilogy at Redmond Ridge, is on a dead end street next to the golf course, is close to the Cascade Club and has beautiful hardwoods. Don’t miss our “Open House” for this “Model Quality” home. You’ll love it. Tell friends, folks you would like to be your neighbors. You can urge them to visit without any worries of how they will perceive this unusual and exceptional Bainbridge.
If my educated guess is correct, eight years of experience in Trilogy at Redmond Ridge support it, there is a short window to get top dollar for your home over the next couple of months (hopefully more). I think that prices could slowly slip as 2013 begins. Still, sales at asking price, are probable for an immaculate home. Top shelf, professional, marketing is key.
HERE ARE THE SALES RESULTS FOR SEPTEMBER IN TRILOGY AT REDMOND RIDGE:
12 Homes $old during September (up two from August)
The average selling price was $496,246. That’s 98.23% of asking price. This supports my confidence in buyers being ready to conclude their search and accept that a well-thought-out asking price is fair and good value. Inventory remains low and pricing for particular models is increasingly uniform. Sold homes included a golf course “Whidbey” selling at 92% of original asking price after 377 days on the market. Others included four attached products. One was a Vashon that spent 288 days on market. These sold in reasonable to fast time: a Vancouver, a Whidbey, an Alder, two Hemlocks and the million dollar plus Maryhill. Once again, ZERO new construction “Designer homes” closed escrow. Shea shows one new build (non NWMLS reported, from the ground up home) closed escrow in September.
Only 11 homes went pending
Waiting to pass inspection are one “short sale” Union, one Chelan, one Whidbey and one Hemlock. Past inspection and waiting for escrow to close are one Orchard, two Washingtons, one Bainbridge, one Vancouver, one Cedar and one Maryhill at $799,900.
WHAT IS CURRENTLY AVAILABLE IN TRILOGY AT REDMOND RIDGE?
There are 14 resells for sale, two more than a month ago. The models include: Five Hemlocks, one Cedar, one Orchard, two Washingtons, one Chelan, one Alder, one Vancouver, one Monticello and a Maryhill.
There also is new construction. One Shea representative reports 30 expected closings by year’s end. Maybe. There is still a Washington pending and three long time listings on the Northwest Multiple Listing Service. There are five more “Designer Homes” that are not yet complete but should be by the end of 2012.
I’d like to talk with you about all these statistics and figures, and the many reasons the Trilogy at Redmond Ridge market is improving. My work day includes deep research into the market, analyzing pricing and buying trends, comparing my client’s asset with competing properties. Then I translate it for the people with whom I work, in simple business language, not jargon, and in facts and results, not hopes and maybes. It’s personal for me. It’s also my passion. It often means that I’m there, personally helping a client prepare to display his product. Sometimes I’ve brought and used a broom.
I’d look forward to fewer sales in October because of fewer “Pending” status homes and lack of inventory. Those of you who do decide to take advantage of this period of stronger pricing, low mortgages, a good stock market and low inventory won’t regret making the decision to sell. Homes offered now that are presented well and priced thoughtfully will sell fast. The crucial first step is selecting a broker who knows the market and has a provable sales record as well as a provable record of working hard for his clients. It’s a business decision, strictly business since it involves your money, and your personal confidence in who represents you.
Next month we’ll touch on how our team sells homes so quickly yet at or near full price. We’ll share how we prepare a house for sale including trips to the dump, carpet cleaning, washing everything down, repairing corbels, accent walls, staging, superior marketing and earning the commission from rolling our sleeves up and making a powerful and persuasive statement to buyers.
In this competitive market and in an increasingly complex business of buying and selling property, a solid broker with product and area experience is essential Such a broker can assure your home will stand out and be sold quickly, at a price that is right for buyer and seller. My aim is to be an expert you can rely on. Others have recognized my work. Please, feel free to tune into KKNW 1150AM October 9th, from 3 – 5 PM, for the award winning “BRANSHENOMICS” TALK RADIO SHOW where I will be a guest discussing current real estate topics that just may be meaningful to you. We’ll have another big announcement next month so be sure to look for the October report.
A FEW MORE VERY INTERESTING REAL ESTATE DEVELOPMENTS:
- New streamlined short sale guidelines for loans held by Fannie/Freddie
- From “Calculated Risk”: Foreclosure Supply Shock; Is it coming?
- 9% of loans in Washington State are seriously delinquent or in foreclosure:
- Great Deal on Roof and/or Gutter Cleaning (until October 8th)
That’s a wrap for September, thanks for joining in, and we’ll see you next month! Meanwhile, take a moment to look over some things about our organization that I’ve added below. 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
Cellular and Text: 425.501.8424
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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!
Checkout what are clients have to say about us
on our Real Reviews page
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The Angeles floor plan, Townsend floor plan, Discovery floor plan, Orchard floor plan, and Madison floor plan are all in the Trilogy at Redmond Ride Port Collection. The Chelan floor plan, Union floor plan, Sammamish floor plan and Washington floor plan are all in the Trilogy at Redmond Ride Lakes Collection. The Vashon floor plan, Whidbey floor plan, Bainbridge floor plan, Monaco floor plan, Nice floor plan, and Vancouver floor plan are all in the Trilogy at Redmond Ridge Island Collection. The Hemlock floor plan, Cedar floor plan, Maple floor plan and Alder floor plan are all in the Trilogy at Redmond Ridge Forest Collection. The Monticello floor plan, Oakwood floor plan, Redford floor plan, and Maryhill floor plan are all in the Trilogy at Redmond Ridge Estate Collection.