The Seattle area real estate housing supply heat maps are out for February 2010 and show a significant shift from what was primarily a Buyer’s Market in 2009 (green, defined as over 6 months of housing supply) to a Balanced Market in 2010 (yellow, defined as 3 to 6 months of housing supply.)  Red areas indicated a Seller’s Market, defined as 0 to 3 months of housing supply.

Feb. 2010 Months of Housing Supply (right) compared to 2009 (left). Red = Seller's Market, Yellow = Balanced Market, Green = Buyer's Market.

Click the image to see a larger version of the heat maps.  “Months of Supply” means the number of months that it would take to deplete the current housing inventory if homes continued to go off market at the current rate and no new listings were added.

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2010 Northwest Women’s Show
March 5 to 7, Qwest Field Event Center, Seattle

This Northwest tradition features 500 exhibits and five stages of fashion, fitness, food, and fun for women.
1000 Occidental Avenue South, Seattle | (206) 831-8000

Everett Home and Gardening Show
March 5 to 7, Comcast Arena at Everett Events Center, Everett

Shop, compare, and save with special show pricing on all of your home and garden projects.
2000 Hewitt Avenue, Everett | (425) 257-7001

Green Elephant Plant Swap
March 6, Episcopal Church of the Holy Cross, Redmond

No plant sales, just exchanges and freebies at the Green Elephant Plant Swap. Expert gardeners share free plants and advice, and for those with no plants to swap, cookies and chocolate work just as well.
10 a.m. | 11526 162nd Avenue NE, Redmond | (425) 223-7249

The Moisture Festival
March 11 to April 3, ACT Theatre, Seattle

The Grand Variete features family-friendly entertainment with acts of skill and daring, including clowns, jugglers, acrobats, and magicians.
$10 to $25 | 700 Union Street, Seattle | (206) 292-7676

Young Playwrights Festival
March 11 to 13, ACT Theatre, Seattle

ACT’s eighth annual festival showcases eight outstanding plays written by local high school students and brought to life by professional actors and directors.
700 Union Street, Seattle | (206) 292-7676

Irish Festival
March 13 to 14, Seattle Center, Seattle

Enjoy Irish tunes and step dancing, participate in Gaelic games, and enjoy Irish movies and cultural exhibits.
305 Harrison Street | (206) 684-7200

Little Bit Therapeutic Riding Center’s Rider Showcase
March 16, Little Bit Therapeutic Riding Center, Woodinville

Horses are therapists for children and adults with disabilities at the Little Bit Therapeutic Riding Center. Meet the horses, tour the facility, and watch demos of Little Bit riders. (Not a fundraising event.)
2 p.m. | RSVP to Emily Roberts by March 11 | 19802 NE 148th Street, Woodinville | (425) 882-1554

Quilters Anonymous Quilt Show
March 19 to 21, Evergreen State Fairgrounds, Monroe

A spectacular quilt show featuring contests and a quilt raffle.
14405 179th Avenue Southeast, Monroe | (360) 805-6700

Early Spring Edible Plant Sale
March 20, Magnuson Park, Seattle

Choose from an amazing selection of cool weather plant varieties, as well as perennial edibles and unusual fruiting shrubs and trees.
9 a.m. to 2 p.m. | 7400 Sand Point Way Northeast, Seattle | (206) 684-4946

Whirligig!
March 26 to April 11, Seattle Center, Seattle

Pre-teen kids can glide, slide, and ride on super-sized inflatable rides. Roaming clowns and face painters add to the entertainment.
305 Harrison Street, Seattle | (206) 684-7200

Brazilian Carnival
March 27, Northshore Performing Arts Center, Bothell

This highly energetic performance features beautifully-costumed dancers and athletic capoeira performers.
7:30 p.m. | 18125 92nd Avenue Northeast, Bothell | (425) 408-7997

The Best of the Northwest
March 27 to 28, Magnuson Park, Seattle

The 22nd annual show showcases works by over 100 emerging and established Northwest artists. Shop for glassware, ceramics, jewelry, photography, sculpture, and more.
$7 admission | 10 a.m. to 6 p.m. | 7400 Sand Point Way Northeast, Seattle

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As we draw near the April 30, 2010 deadline for the $8,000 First-Time Home Buyer Credit and the $6,500 Move-Up Home Buyer Credit, expect Seattle area home listings that are not short sales to increase in value compared to short sales.

Based on what I’m seeing (and hearing from my own clients), many people who currently have offers on short sale listings and who are still waiting to get their offers approved by the underlying lienholders may abandon their short sale offers and look for homes that are not short sales in order to get a deal signed around and closed by the credit deadlines.  (In order to qualify for either credit, transactions must be mutually accepted by April 30, and closed by June 30, 2010.)

Whenever you have an increase in demand that affects one category of the housing market more than another, those home values increase in comparison.  I expect non-short sale listings to reach a premium in April due to the many prospective buyers who qualify for one of the credits and the typically extremely lengthy period of time it still takes most lienholders to approve offers on short sales.

That being said, short sales are still providing competition in the housing market and non-short sale listings need to be priced competitively – just expect them to get a boost shortly.

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Northwest Flower and Garden Show
February 3 to 7, Washington State Convention Center, Seattle

Explore six acres of inspiring gardens with thousands of flower varieties, learn from free seminars, and
browse 350 gardening exhibits.
800 Convention Place, Seattle | (206) 694-5000

Cirque Sublime
February 2, ShoWare Center, Kent
February 3, Comcast Arena at Everett Events Center, Everett

One of Canada’s most sought-after troupes, these world-class athletes and artistic performers create a mesmerizing visual experience.
ShoWare Center: 625 West James Street, Kent | (253) 239-7825
Comcast Arena: 2000 Hewitt Avenue, Everett | (425) 257-7001

Boats Afloat Show
January 29 to February 6, South Lake Union Park, Seattle

Climb aboard, kick some anchors, and check out a huge variety of cabin cruisers, sailboats, trawlers, and
yachts.
860 Terry Avenue North, Seattle | (206) 684-7254

Red Wine and Chocolate
February 4 to 14, E.B. Foote Winery, Burien

Enjoy dozens of chocolates along with current and newly-released red wines. Dress warmly and casually, no reservations needed.
$10, applied towards wine purchase | 127-B Southwest 153rd Street, Burien | (206) 242-3852

Seattle RV and Outdoor Recreation Show
February 11 to 14, Qwest Field Event Center, Seattle

Now in its 47th year, this is the largest RV show in Washington state. Compare hundreds of RVs and the
latest in other outdoor recreational equipment.
1000 Occidental Avenue South, Seattle

Lunar New Year Celebration
February 13, Hing Hay Park, Seattle

First-class multicultural entertainment, with Lion and Dragon dancers, taiko drummers, drill teams, and fun
activities for kids.
423 Maynard Avenue South, Seattle | (206) 684-4075

7th Annual Father/Daughter Dance
February 12, Old Redmond Schoolhouse Community Center, Redmond

Enjoy an evening of dancing, music, crafts, and refreshments. For girls aged three to twelve and their
father, uncle, grandfather, or special friend.
6:30 p.m. | $25 per couple | 16600 NE 80th Street,
Redmond | (425) 556-2300

Seattle Home Show
February 20 to 28, Qwest Field Event Center, Seattle

The 66th annual Seattle Home Show features hundreds of displays of home and garden products, free seminars, and more than fifty model kitchens.
1000 Occidental Avenue South, Seattle | (425) 467-0960

CPR and First Aid Training
February 20, Redmond

A traditional Heartsaver CPR and First Aid class. Call to sign up.
8:30 a.m. | $50 | 14681 NE 95th Street, Redmond | (425) 739-0700

The Beard and Stache Dash
February 20, Cherry Street Coffee House, Seattle

Part scavenger hunt and part race, the 25-mile Dash pits man against machine, with prizes for both bicycle and moped riders. Benefits Treehouse and the foster children of King County.
1212 First Avenue, Seattle | (206) 414-8943

Haiti Benefit Concert
February 20, Kirkland Performance Center, Kirkland

Join Children of the Revolution for their world-famous blend of Flamenco, Greek, Latin American, Middle
Eastern and Rock music. All profits from this event will benefit relief efforts in Haiti.
8 p.m. | 350 Kirkland Avenue, Kirkland | (425) 893-9900

Starlight Beach Walk
February 24, Olympic Beach Visitor Station, Edmonds

Join Edmonds Discovery Programs and Snohomish County Beach Watchers for a low tide beach walk under the stars, followed by hot chocolate at the Visitor Station.
6:30 p.m. to 8:30 p.m. | 200 West Dayton Street, Edmonds | (425) 771-0227

2010 Sewing and Stitchery Expo
February 25 to 28, Puyallup Fair and Events Center, Puyallup

A show designed to please both experienced and beginner sewers and quilters, with over 400 booths and many seminars to learn from.
110 Ninth Avenue Southwest, Puyallup | (866) 554-8559

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MP3 File
  Click ‘Play’ to hear me summarize proposed FHA loan program changes in 2010.

A few years ago FHA loans made up only around 3 percent of the home loan market. Now they make up closer to 50 percent, due to their lower down payment requirements (3.5.%) and less stringent qualification standards, combined with the virtual disappearance of conventional zero-down loans and second mortgages.

Some quick background: FHA loans are backed by the Federal Housing Administration, and despite their less strict qualification standards have typically had a pretty healthy rate of repayment; however, during the mortgage crisis many subprime borrowers turned to the FHA program, and it’s expected that the FHA loan repayment rate will worsen significantly over the next few years.  Bankrate.com has a pretty good overview of the FHA loan program.

Changes in Store for FHA Loans:

On December 2 HUD Secretary Shaun Donovan announced the following proposed changes that will affect new FHA borrowers:

1. Increasing the required initial cash investment.

This could be done by increasing the down payment from the current minimum of 3.5%, and/or by not allowing borrowers to finance the FHA premium.

2. Increasing the minimum FICO (credit) scores requirement.

3. Increasing mortgage insurance premiums.

4. Reducing the allowable seller concession to the buyer from its current cap of 6 percent, to as low as 3 percent.

These are big changes, and not all of them need Congressional approval.  In other words, some are expected to be implemented early in 2010, so if you know of someone planning to purchase a home with an FHA loan this year please let them know about this post!

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Seattle Area Community Events for January 2010

by IreneDorang on January 4, 2010

in Local Events

Puyallup Home and Garden Show
January 8 to 10, Puyallup Fair and Events Center, Puyallup

A show designed for homeowners in all stages of remodeling, landscaping, and decorating. See hundreds of exhibits and product demonstrations.
110 Ninth Avenue Southwest, Puyallup | (253) 845-1771

Northwest Bridal Showcase
January 9 to 10, Comcast Arena at Everett Events Center, Everett

This year the Bridal Showcase features over 100 local wedding specialists in every category.
2000 Hewitt Avenue, Everett | (425) 257-7001

Family Day at the Museum of Glass
January 9, Museum of Glass, Tacoma

Bring the family for an afternoon of creativity! Create beaded snowflakes, winter-themed sun-catchers, and colorful ornaments.
1 pm to 4 pm | 1801 Dock Street, Tacoma | (253) 396-1768

Seattle Wedding Show
January 16 to 17, Washington State Convention and Trade Center, Seattle

An elaborate extravaganza designed to show couples the best options available when it comes to planning a wedding.
800 Convention Place, Seattle | (206) 694-5000

Dr. Martin Luther King, Jr. Day
January 18, Seattle Center, Seattle

A full afternoon of awards, activities, and entertainment to honor the memory of Dr. Martin Luther King, Jr.
12 pm to 5 pm | 305 Harrison Street, Seattle | (206) 684-7200

75th Annual Sports Star of the Year Awards
January 19, Benaroya Hall Music Center, Seattle

These awards honor top local professional and amateur sports icons, as well as inspirational youth, best sports media figures, sports executives, and many others.
7:30 pm | 200 University Street, Seattle | (206) 215-4800

28th Annual Bellevue Home Show
January 22 to 24, Meydenbauer Center, Bellevue

Whatever your home remodeling or decorating needs are, this show is sure to provide inspiration and ideas.
11100 Northeast Sixth Street, Bellevue | (425) 637-1020

Seattle Travel Show
January 23 to 24, Seattle Center, Seattle

Over 120 travel companies and 300 travel professionals from around the world fill the Seattle Center Exhibition Hall to showcase the world’s most exotic destinations and great vacation ideas.
305 Harrison Street, Seattle | (206) 684-7200

Washington Sportsmen’s Show
January 27 to 31, Puyallup Fair and Events Center, Puyallup

The fairgrounds will be packed with boats, outfitters, recreational vehicles, field-trial dogs, expert anglers, and the world’s keenest hunters.
110 Ninth Avenue Southwest, Puyallup | (253) 845-1771

Boats Afloat Show
January 29 to February 6, South Lake Union Park, Seattle

Climb aboard, kick some anchors, and check out a huge variety of cabin cruisers, sailboats, trawlers, and yachts.
860 Terry Avenue North, Seattle | (206) 684-7254

Popovich’s Comedy Pet Theater
January 29 to 30, Kirkland Performance Center, Kirkland

This one-of-a-kind indoor circus act features trained dogs, cats, geese, doves, mice, and more.
350 Kirkland Avenue, Kirkland | (425) 893-9900

Disney Live! Rockin’ Road Show
January 31, Comcast Arena at Everett Events Center, Everett

Kids will love watching and singing along as Mickey, Minnie, Goofy, and Donald head off on an adventure and find some great friends to help them out.
2000 Hewitt Avenue, Everett | (425) 257-7001

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img02485

A few weeks ago I stopped by Corey Hubbell’s glass design studio in Redmond at the urging of my friend Charles from AquaSports, and I was simply amazed at the quality and quantity of beautiful blown glassware Corey has for sale.  Here are some shots I took of his warehouse with my Blackberry.

Prices that I saw ranged from around $20 for small pieces such as a Christmas ornament, to several hundred dollars for larger, ornate pieces.  Right now he’s having a moving sale, with discounts of 15% to 50% off, so it’s a great time to stop by.

Also, Corey’s work helps support his own efforts as part of a mission team that aids in the maintaining and rebuilding of a school for disabled children in Peru – an even better reason to stop by! :)

New Address:  7102 180th Avenue NE, Redmond, WA 98052 (Map below)  425-882-4971


View Larger Map

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Redmond Home Near Microsoft For Sale

by TeamIrene on November 7, 2009

in My Listings

front

PENDING SUBJECT TO INSPECTION

This is a fabulous home just blocks from Microsoft and Nintendo, and minutes to Redmond Town Center, Marymoor, 520 and Grass Lawn Park. Light and bright kitchen with hardwoods and maple cabinets, new dishwasher and stove. New paint, new vinyl and tub/shower surrounds in baths, remodeled family room perfect for media room, double pane windows throughout. Large fully fenced yard is great for relaxing or play. Mud room, spacious garage with a shop area. Central air conditioning for those sweltering summer days! Wired for FIOS. Lake Washington school district. Not a short sale, just move in! For more information or a showing, call me at 206-335-3335 or click here to email me.

Details:

PENDING SUBJECT TO INSPECTION
Listed at $419,950
3 Bedrooms
2.50 Baths
1680 Square feet*
Built 1969, remodeled
5309 159th Ave NE, Redmond, WA 98052
MLS# 29155125

Information is taken from sources deemed to be reliable but is not guaranteed. Buyer/Selling Agent to verify all info.

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New Listing – Kirkland Condo For Sale

by TeamIrene on November 6, 2009

in My Listings

Dor_001-copy

I’ve just listed this gorgeous 2 bedroom, 1.75 bath top floor condo in a rare 4-unit building in the desirable Tanager complex. Big kitchen with granite counters, pantry, lots of cupboard space, great for entertaining. 2 large bedrooms, each with its own bath. Very private setting surrounded by trees. Minutes to Google, Microsoft, Evergreen Hospital, Cascadia College, and just a few blocks from Trader Joes, QFC & Starbucks. Very near Park & Ride and the new HOV access to 405. FHA-approved complex, not a short sale! For more information or a showing, call me at 206-335-3335 or click here to email me.

Details:

2 Bedrooms
1.75 Baths
923 Square feet*
Built 1990, remodeled
Tanager Complex – 11301 NE 128th St. #A201, Kirkland WA 98034
MLS# 29155047

Information is taken from sources deemed to be reliable but is not guaranteed. Buyer/Selling Agent to verify all info.

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Here are the October 2009 housing inventory supply numbers going back five years for selected Seattle areas.* Months of Inventory (MOI) refers to the number of months it would take the current housing supply to be completely sold if no new listings were added.

The geographical area is marked at the top left of each chart. You can also click here to view stats for all Seattle and Eastside areas (opens as a pdf.)

area380oct09

 

area385oct09

 

area390oct09

 

area700oct09

 

area705oct09

 

area710oct09

 

area715oct09

 

area140oct09

  

area720oct09

*All reports published October 2009 based on data available at the end of September 2009.  This representation is based in whole or in part on data supplied by the NWMLS.  Neither the Board nor the MLS guarantees or is in any way responsible for its accuracy.  Data supplied by the Board or the MLS may not reflect all real estate activity in the market.  Report reflects all activity by brokers participating in the MLS.

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