Mercer Island, WA Real Estate News

By Sonny Kwan, 206-819-8228
(Quantum Group Commercial - Residential - Lease Seattle, WA )
Mercer Island Public Library The Mercer Island Public Library is part of the 44 branches of the KCLS (King County Library System) The KCLS is the second busiest Library in the Nation (behind Queens N.Y.) The Mercer Island branch is located at 4400 88th Ave. SE. Mercer Island , WA 98040 (206) 236-3537 This month the library features a display of minature teddy bears that are on display only once a year. Photo and graphics by Sonny Kwan  Realtor® with            John L Scott Real Estate Seattle, WA, All information is believed to be accurate, but is not warranted in any way. Visit my website www.seattleidx.com to search all homes on the internet or contact me for a referral of a great agent in your area! Mercer Island Public Library © 2009  By Sonny Kwan All Rights Reserved
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By Sonny Kwan, 206-819-8228
(Quantum Group Commercial - Residential - Lease Seattle, WA )
  Mercer Island Metro Bus Routes Getting from the University district Via Downtown Seattle to Mercer Island or visa versa is a simple process when it comes to commute time within the City Limits. Simply go to Metro.kingcounty.gov then on the left of that website click on the map view link. Type in your bus route and click the apply check box and you can see your bus in real time on the Metro transit onboard GPS tracking system.             Digital Graphics by Sonny Kwan  Realtor® with            John L Scott Real Estate Seattle, WA, All information is believed to be accurate, but is not warranted in any way. Visit my website www.johnlscottwa.com to search all homes on the internet or contact me for a referral of a great agent in your area! Mercer Island Metro Bus Routes © 2009  By Sonn...
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By Sonny Kwan, 206-819-8228
(Quantum Group Commercial - Residential - Lease Seattle, WA )
Photo taken with a Nikon D40X 18-55mm by Sonny Kwan  Realtor® with            John L Scott Real Estate Seattle, WA, All information is believed to be accurate, but is not warranted in any way. Visit my website www.johnlscottproperty.com to search all homes on the internet or contact me for a referral of a great agent in your area! Mercer Island Waterfront © 2009  By Sonny Kwan All Rights Reserved
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By Sonny Kwan, 206-819-8228
(Quantum Group Commercial - Residential - Lease Seattle, WA )
Mercer Island Real Estate Statistics - Oct. 2009 - Dec. 2009 Active Homes on the Market                                140 Lowest Priced Home                                                $475,000 Highest priced Home                                               $32,000,000 Pending Homes since 10/1/09         17               $449,000 - $2,372,500 Homes Sold                                             34               $575,000 - $4,100,000 _________________________________________________________ Active Vacant Land                              20               $350,000 - $4,775,000 Pending Land Deals                                1               $1,900,000 Sold Vacant Land                                     1               $3,000,000           Photo taken with a Nikon D40X 18-55mm b...
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By Dan Tabit
(Keller Williams Bellevue)
Son of a Shoemaker I am the son of a third generation Shoemaker.  My great grandfather arrived at Ellis Island having left his wife and children behind because they couldn't afford passage for everyone.  He worked on the streets of New York City repairing shoes out of a box until he could save up enough money for passage for his family.  They moved to Seattle and established his own shoe repair shop where he taught his son the trade.  My grandfather later did the same with my father, and he with me.  I spent evenings after school and Saturdays in the back of the family store, polishing shoes, grinding soles and heels and cleaning up after everyone.  My older brother now runs my father's store where his 3 kids have all learned the trade and my nephew works full time.  There is a sign in ...
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By Kate Pokroshinskaya
(Royal)
Bonus/Rec Room, Fireplace, Pantry, Vaulted Ceilings, Garbage Disposal, Vacuum System Built in, Bathroom Off Master Bedroom, Basement, Double Pane/Storm Windows, Washer/Dryer, Wet Bar, Utility Room, Hot Tub and/or Spa, Den/Library/Office, Range/Oven, Breakfast Bar Exterior Features. To directly access this property, use this shortcut: http://www.fizber.com/washington-buy-single-family-home-11648107.html
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Bonus/Rec Room, Fireplace, Pantry, Vaulted Ceilings, Garbage Disposal, Vacuum System Built in, Bathroom Off Master Bedroom, Basement, Double Pane/Storm Windows, Washer/Dryer, Wet Bar, Utility Room, Hot Tub and/or Spa, Den/Library/Office, Range/Oven, Breakfast Bar Exterior Features. To directly access this property, use this shortcut: http://www.fizber.com/washington-buy-single-family-home-11647869.html
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By Rene Fabre, Marketing in the Digital Age
(First American Title)
Just east of Seattle, west of Bellevue, and north of Renton over Interstate 90 in the southend of Lake Washington stands Mercer Island. Mercer Island is also a city, and one of the premiere neighborhoods in the Northwest. The only way on and off this Island City without a boat is Interstate 90.     You're just minutes from downtown Seattle, or Bellevue. Some of my favorite views are from the south end of the Island... looking south and east at the Cascade Mountains and Mt. Rainier... At my most recent count Mercer Island has 7162 homes. There are 782 with Lake Washington lake front. Our study today is only looking at MI properties that are not waterfront. As most of you are very aware, waterfront and non-waterfront properties is like comparing apples and almonds, you can't.     Resident...
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By Sam DeBord, Seattle Real Estate Broker
(SeattleHome.com -Coldwell Banker Danforth)
There have been 3 waterfront homes sold in Mercer Island so far in 2009.  Two are in the Lakes neighborhood, while the third is Lake Washington waterfront. The Lakes neighborhood is comprised of high end 1980's era homes on a group of small inland lakes.  The two homes sold each had waterfront on this neighborhood shoreline.  Selling at just under $1,000,000, the first 4 bed, 3.5 bath home sold at a 15% discount from list price in about 5 months.  The second sale in Lakes was a 3 bed, 2.5 bath home with 120+ feet of waterfront.  The home sold for just over $1,000,000 at a 6% discount from list.  It was on the market for 9 months. The other sale was a Lake Washington waterfront home on the "quiet" Northeast shore of Mercer Island.  With 80 feet of waterfront and a modest 1500 sq ft house...
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By Sam DeBord, Seattle Real Estate Broker
(SeattleHome.com -Coldwell Banker Danforth)
Mercer Island homes with waterfront access don't usually dip below the $1 million mark, but currently there is 1 home with waterfront access listed under a million.  Lake Washington homes - Mercer Island Waterfront Real Estate
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By Jay Agoado, CRS,GRI,SRES Mercer Island, WA
(Windermere Real Estate)
I follow statistics every friday morning and I am just stunned as to the lack of activity taking place on the island.  I guess it's true that those markets which were affected last will recover later than others.  What an amazing time to be a buyer on the island in that homes which have excessive market times are taking drastic price reductions.  Unfortunately, we're not seeing a lot of great homes to purchase.  It's fairly simple to find a 40-year old not updated home but how about an updated home, on a great street, at a realistic price?    Check out my weekly trackings to better understand what I am talking about.  Definitely a buyer's market... http://www.jayagoado.net/blog/QuarterlyRatios(Area510).pdf  
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By Jay Agoado, CRS,GRI,SRES Mercer Island, WA
(Windermere Real Estate)
Month: 3/09 Week 1      Week 2      Week 3      Week 4   Price Range           #L #P SR #L #P SR #L #P SR #L #P SR $0-250K 0 0 0% 0 0 0% 0 0 0%       $251-350K 0 0 0% 0 0 0% 0 0 0%       $351-400K 0 0 0% 0 0 0% 0 0 0%       $400-500K 3 0 0% 3 0 0% 3 0 0%       $501-600K 7 0 0% 7 0 0% 7 0 0%       $600-700K 10 0 0% 10 0 0% 11 0 0%       $701-800K 11 0 0% 15 0 0% 15 0 0%       $801-900K 18 0 0% 19 0 0% 18 1 6%       $901-1M 20 0 0% 19 1 5% 20 0 0%       $1M-1.25M 17 0 0% 17 0 0% 17 0 0%       $1.25-1.5M 15 1 7% 16 0 0% 16 0 0%       $1.5-2M 24 1 4% 24 1 4% 28 0 0%       $2M-2.5M 17 0 0% 18 0 0% 19 0 0%       $2.5M-3M 12 0 0% 13 0 0% 15 0 0%       $3M+ 22 0 0% 23 0 0% 21 1 5%         L = # of listings P = # of pending sales SR = Sales Ratio 0-45% = Buyers Market 46-55% = Balanced Market 5...
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By Jay Agoado, CRS,GRI,SRES Mercer Island, WA
(Windermere Real Estate)
I found the below commentary quite interesting since many homebuyers are sitting on the fence.  Are they sitting on the fence waiting for the "bottom" in interest rates and/or home prices?  Unfortunately, one never knows when the "bottom" is until it has already occurred.  Just like how we found out a few months ago that we've been in a recession for over one year!  Most of these events are not accurately noted until after the fact.  Just thought I would forward since rates AND home prices are ridiculously low right now.  It's actually a "perfect storm" for buyers and who knows how long it will last.    Commentary: William O'Donnell, U.S. bond strategist at UBS securities hit the proverbial nail-on-the-head when he said, "Investors are reluctant to crank rates much lower -- knowing that...
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By Discover North, Seattle with Jay Silver
(Keller Williams - Greater Seattle)
Yes, I finished the Mercer Island "Escape From the Rock" triathlon this last weekend!  Things went much better this time around.  My bike chain stayed on and my time was an hour better because of it.   The only thing that wasn't so great was my endless nausea throughout the the whole process.  I think I sucked down too much water during the swim.  Oh, and about the swim - the water was much colder than usual!  I was a bit shell-shocked for the first 5 minutes but finally got into a groove.   Mercer Island is so beautiful!  I love participating in this triathlon every year.   Here are a couple of pics from my day of pain...er, fun.  :-)   Just before the swim...   Just after the swim.  Yeah, I was a little tired and nauseated.   The bike leg was great!  They shut down the express lanes o...
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By Greg & Brian Perry, Working-for-you
(Windermere Real Estate N.E.)
NWMLS 510 May-08 May-07 %Change Median Prices $995,000 $969,000 2.70% Inventory 186 130 43% Pending 19 35 -45.70% NWMLS Area 510 is Mercer Island.  Overall this area holds 39.2 weeks of inventory and is considered a Buyer's Advantaged Market.  The price range between $700k and $900k has enough activity to be considered a Balanced Market.  Absorption rates are holding fairly steady in Area 510.  There is currently 22 homes for sale over $3,000,000 and it looks to take 80 weeks to sell through the current inventory at our present rate of sale. Compiled from but not published or verified by NWMLS.
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By Jay Agoado, CRS,GRI,SRES Mercer Island, WA
(Windermere Real Estate)
The year started off in its typical slow fashion but started to pick up toward the end of the month.  I noticed some homes, that were taken off the market for the holiday season, relist and sell at the beginning of the year.  What we are seeing is a great buying opportunity but many buyers are sitting on the fence, unsure if prices are going to drop.  Certain price ranges are still selling relatively well and other price ranges are requiring price reductions.  But, our market certainly is a lot better than most.January Activity‘07 total active listings:  74‘08 total active listings:  119‘07 median listing price:  $1,797,000‘08 median listing price:  $1,499,000‘07 days on market for listings:  130‘08 days on market for listings:  106‘07 closed sales:  19‘08 closed sales:  16‘07 median sa...
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By Greg & Brian Perry, Working-for-you
(Windermere Real Estate N.E.)
Mercer Island Market StatisticsJanuary 2008NWMLS 510Single Family HomesArea 510 (Mercer Island) median prices were up 34.8%.   YOY listing inventory was up 60.8% and Pending sales were down -50%.LISTINGS: 119 (2007) vs. 74 (2006)60.8%PENDINGS: 11(2007) vs.22 (2006) -50%MEDIAN: $1,550,000(2007) vs. $1,150,000(2006)34.8%Compiled from but not verified or published by NWMLSby Greg Perry, Eastside Realtorwww.425realty.com
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By Greg & Brian Perry, Working-for-you
(Windermere Real Estate N.E.)
By Greg PerryEastside Realtorwww.425realty.com Mercer Island Real Estate Market Statistics  (December 2007)For Single family Homes (not condos)  Area 510 (Mercer Island) median prices were down -11%.   YOY listing inventory was up 26.3% and Pending sales were down -33.7%.LISTINGS: 96 (2007) vs. 76 (2006) 26.3%PENDINGS: 19(2007) vs.14 (2006) -35.7%MEDIAN: $995,000(2007) vs. $1,118,500 (2006)-11% Compiled from but not published by NWMLS
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By Greg & Brian Perry, Working-for-you
(Windermere Real Estate N.E.)
For residential homes only (not condos)Area 510 (Mercer Island) median prices were up 7%. Last month this area was down -7.50%. YOY listing inventory was up 21.88% and Pending sales were down -16%.LISTINGS: 156 (2007) vs. 128 (2006) 21.88%(Last month there were 149 listings)PENDINGS: 21(2007) vs.25 (2006) -16%MEDIAN: $950,000 (2007) vs. $887,500 (2006)7% The median price for August was $925,000.Compiled from but not published by NWMLSBy Greg PerryEastside Realtorwww.425realty.com 
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By Greg & Brian Perry, Working-for-you
(Windermere Real Estate N.E.)
For Single Family Homes (not condos)Area 510 (Mercer Island) median prices were down -7.50%. Last month this area was up 3.5%. YOY listing inventory was up 25.21% and Pending sales were down -45.95%.LISTINGS: 149 (2007) vs. 119 (2006) 25.21%(Last month there were 141 listings)PENDINGS: 20 (2007) vs. 37 (2006) -45.95%MEDIAN: $925,000 (2007) vs. $1,000,000 -7.50Statistics compilied from, but not publised by the NWMLSBy Greg PerryEastside Realtorwww.425realty.com
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Mercer Island, WA Real Estate Professionals