Mercer Island, WA Real Estate News

By Ricky D. Sadler, Trusted Senior Property Advisor & Marketing Expert
(Real Estate Marketing Experts &Trusted Senior Advisors on Property Management services, Rentals Leasing, Landlord Tenant )
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By Greg & Brian Perry, Working-for-you
(Windermere Real Estate N.E.)
Did you know that the first access from Bellevue to Mercer Island was across the East Channel bridge? The bridge spanned Lake Washington between Enetai in Bellevue and Barnabie Point in Mercer Island.   It opened on November 10th 1923.  It was only a small wooden bridge that lasted until 1940 when it was replaced by a second, more substantial bridge.  The old East channel bridge was in such disrepair towards the end of its life, school bus drivers used to make the kids get out and walk the rickety wooden bridge to cross.
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By Jay Agoado, CRS,GRI,SRES Mercer Island, WA
(Windermere Real Estate)
Our real estate market on Mercer Island is still moving along quite nicely.  What we have been seeing is anything under $1.M is still selling quickly if it is priced correctly, in a good location, and is in good condition or has good potential.  See below the monthly inventory levels for the different price ranges.  Monthly inventory is calculated by dividing the current pending properties into the current available properties.  Also, anything less than 2 months worth of inventory is considered a "Seller's market" and anything greater than 5 months of inventory is considered a "Buyer's market".<$1,000,000 = .93 months of inventory$1,000,000 - $1,500,000 = 4.6 months of inventory$1,500,000 - $2,000,000 = 6 months of inventory$2,000,000 - $3,000,000 = 27 months of inventory$3,000,000 - $5...
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By Deborah Burns ~ Seattle Real Estate Agent
(Realty Executives -BRIO)
I just finished watching HGTV's "What's With That Really Expensive House?" and there was a house featured in the program that I have been in.  The program visited 5 homes from all over the US ranging from $22,000,000 to $79,000,000.  Three of them were waterfront homes, and all had amazing amenities, with the most expensive one in Corona Del Mar having a car elevator, water slide, and the house looked like an airport terminal, or a wave as two neighbors noted in the program.The house I have been in is on Mercer Island, just outside of Seattle, and is listed for sale, on the Seattle Real Estate market, for $40,000,000 although the program said $44,000,000.  I was part of a cadre of agents enlisted to (safe) guard rooms for an invitation only Open House.  I was in charge of the Family Roo...
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By Greg & Brian Perry, Working-for-you
(Windermere Real Estate N.E.)
Mercer Island Real Estate Prices By Greg Perry, Eastside RealtorEntry prices on Mercer Island gets started at about $800,000. There are 0 properties under $700,000 with only 18 under $1,000,000, out of 118 properties.NWMLS Area 510 Here is a breakdown of active inventory numbers for the week end 05/12Under $800,000 3$1,000,000 to $1,999,999 48$2,000,000 to $2,499,000 19$2,500,000 and up 33Total inventory 118www.425realty.com
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By Jay Agoado, CRS,GRI,SRES Mercer Island, WA
(Windermere Real Estate)
What a market we have going on Mercer Island, WA.  Everyone keeps talking about the real estate "bubble" but you would never know if you were trying to buy a home here.  Multiple offers is the norm for anything under $1,000,000 if it isn't on a busy street or doesn't have other adverse conditions.  Anything between $1,000,000-$2,000,000 is still selling quickly if the home is in good condition.  According to the Northwest Multiple Listing Service, monthly inventory levels are at one month for homes on Mercer Island under $1,000,000!  In layman's terms, anything less than two month's worth of inventory is considered a Seller's market.  See below for Mercer Island, WA statistics per the NWMLS: <$1,000,000:  1 month of inventory$1,000,000-$2,000,000:  3.2 months of inventory$2,000,000-$3,0...
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Mercer Island, WA Real Estate Professionals