Will Rogers once said that you only need to buy one newspaper in your life and just keep reading it over and over again because things don't really change. People in Seattle...take his advice!!
The economy in Seattle has been and continues to be strong. It's projected that Seattle will grow by about 1,000,000 people by 2020 and by a mere 100,000 by 2010. Housing inventories while they have increased since October of 2007 are still by all accounts pretty low. Mortgage rates are still at historic lows. Marketing times have increase by about 300% from about 20 days to over 60 days. And, home prices have fallen by about 10%. Where have all the Buyers Gone? Are they sitting at home reading the newspapers and the websites about how bad the housing markets are in California, Nevada and Ohio?
Buyers in Seattle...Get off the couch, turn off your computers...go out and look at houses!! This is perhaps the best buyers market we have had in Seattle since 1990. OK OK loans are harder to get, now you actually have to be qualified to buy a home in a certain price range, and the rumors are that there are still many many qualified people in Seattle bringing home a very good paycheck. So what's the deal? Waiting for the market to bottom out? You know, you never know when something is going to hit the bottom (unless you drop a brick from the roof or something) and when something (financial) is going to hit the top. We believe that we are close to the bottom at his time. We are seeing more activity everyday now. The Title and Escrow companies are actually getting busy again. Spring is traditionally the busiest time of the year in Seattle and there are some great values out there.
If you have or are thinking that you need a bigger home (the move up buyer) this market can be a gold mine. Buyers can actually write "contingent offers" today and sellers are accepting them. If you tried doing that over the past 10 years you would be laughed at...not now. Home that were selling for $900,000 in the Spring of 2007 can most likely be purchased for about $810,000 today. So for the move up buyers you may get about $40,000 less for your $650,000 home but save about $90,000 on your $900,000 home...hummm... a net gain of about $50,000. (A $50,000 saving on a $810,000 investment...that's about a 6% return). Then when all the hysteria ends about the housing market in Seattle (and it will soon) prices will be heading north again at a pretty strong pace. If past history is any indication we could be seeing double digit appreciation again by 2010.
We need to clarify something here...we are talking about "in-city neighborhoods", not suburban areas. In-city neighborhoods like Magnolia, Queen Anne, Capitol Hill, Montlake, Madison & Washington Park, Denny Blaine, Mt Baker, Seward Park, Ballard, Sunset Hill, Wallingford, Greenlake, Ravenna, Bryant, Viewridge etc. etc....in-city areas that are about a 30 minute or less commute to downtown not using the freeways. These areas are fully developed...no more land to build on. While all these areas have there own personality and architectural identities many of these neighborhoods have huge upside potential for substantial remodels some with impressive views. These properties tend to appreciate at an even higher rate and appeal to people that are less affected by cycles in the economy. Even if a home in a great location isn't improved it will still have more value than it's counterpart on the same street if it doesn't have that potential view because of it's up side potential. Little ramblers on Magnolia and Queen Anne where a second floor would open up a city or sound view have much higher values and much higher demand...in other words a great investment on a property that is getting harder and harder to fine.
Seattle, a great place to live, a strong and diverse economy, and huge upside housing potential!! Go buy something!!
With 18 years of Real Estate experience we offer Home Buyers and Sellers expert assistance & guidance in the Greater Seattle Real Estate Market. Our clients are fully informed to make smart decisions.
David & Karen Bell are a successful husband and wife team specializing in the Greater Seattle Real Estate Market. David started in Real Estate in 1989 after 12 years as a Corporate VP of a highly successful National Company. David opened and ran Regional Offices in New York City, Chicago, Columbus, Orange County, Los Angeles and San Francisco. Karen joined the Real Estate business in 1996 after 18 years in her own Computer Consulting and Training Business. David was born and raised in Seattle where he attended Queen Anne High School and then the University of Washington where is has a degree in Marketing and Psychology. Karen was born in Minneapolis but moved to the Bellevue area when she was 4 and attended Newport High School and then Western Washington College where she majored in Education. Karen was a competitive skier most her younger life and was on the K2 Demonstration Team and was jumping off cliffs and doing flips. They have a daughter now so she's only skiing blue and black diamond runs. David was a baseball and basketball player in high school and went on to the University of Washington on a baseball scholarship where he played for 4 years. After college he played for 3 years in the Northwest League but hurt his shoulder and had to give baseball up. David went back to the U of W after that and got a second degree in Psychology and was the Assistant Varsity Baseball Coach and the Head Jr. Varsity Baseball Coach where he compiled the best winning record in school history at that time.
They have a 14 year old daughter that is just entering high school this year. She is a very accomplished ballet dancer and has preformed in Pacific Northwest Ballet's Nutcracker for 7 straight years. She has been offered a position in an exciting new dance company that will expand her dancing disciplines to include Ballet but also Modern, Jazz, Hip Hop, and Repertory (Broadway signing and dancing). They plan to perform Internationally as well as locally.
Our mission is to help or clients achieve their Real Estate goals and make a difference in their lives by helping them make smart, well educated decisions about buying or selling real estate. We have an extremely good understanding of the Seattle Real Estate market, its neighborhoods and the constantly changing market conditions. We know when the market is changing and where it is going and we spend all the time necessary to help our clients understand current home values and trends so they can make well informed decisions and keep at least one foot firmly planted in reality. We advise our Buyers as to the true market value of a home and analyze the property to accurately predict future values. We never "buy a listing" from Sellers by telling them their home is worth an inflated amount to get the listing, we tell them the truth even if it costs us the listing and our track record show that we are 99% accurate.
We absolutely love living in Seattle. We have both traveled the US extensively have spent considerable time in other great cities and Seattle continues to be our favorite place to live. Sure there are better places to spend time on the beach, to see fabulous Broadway shows, or to shop and dine out, but Seattle in our opinion is the best compromise out there. The weather here is actually wonderful. It rarely snows in Seattle, but when it does the city come to a screeching halt. The average temperature in Seattle in the Winter is in the mid 40's. It rains a lot but after a year you get used to it, but we actually get less rain than New York City. The summer time here is wonderful, with average temperatures in the mid 70's and low 80's but with almost no humidity. You can actually take a shower in the morning and get dry! Seattle is surrounded by water and mountains, Puget Sound and the Olympic Range on the West and Lake Washington and the Cascades Range on the East. The mountains are just about an hours drive away and the views of the mountains are simply spectacular. You can see Mt Rainier (over 14,000 feet and south of Seattle) from many neighborhoods, the snow covered Olympic Mountains and Puget Sound from others and Downtown and the Cascade Mountain Range from others. There are some areas that you can see most all of that. Seattle is made up of a series of hills, so the views here are awesome and since they aren't making any more view property the investment values of these view properties are outstanding. Downtown Seattle has grown significantly over the past 20 years and restaurant and shopping scene is excellent, not yet as good as San Francisco but getting there. Washington State just licensed its 500th winery this year and Washington State Wines are some of the best in the world. We are home to three major league sports teams, The Sonics, The Mariners, and the Seahawks and we have arguably the best professional baseball and football stadiums in the country. And if you love boating, well this is the place to live other than perhaps the Greek Iles. Seattle has been called the boating capital of the world and it really deserves those accolades.
We sell Seattle Real Estate and we are Really Good At It. It's our Full Time Job and we Love it. Whether you are a first time home or condo Buyer or selling your 5th home we can help you sell for more and buy for less and our track record proves that. Something we learned many years ago is that we have two ears and one mouth and we use them proportionally. We know how to listen to our clients and understand their needs and goals and we know how to help them achieve their goals. To learn more about us and our business philosophies please visit our web site at www.dkbell.com.
We cover "most" of the Greater Seattle area. Specific neighborhoods in Seattle are: Magnolia, Queen Anne, Ballard, Loyal Heights, Sunset Hill, Crown Hill, North Beach, Broadview, Greenwood, Crown Hill, Phinney Ridge, Green Lake, Wallingford, Freemont, Ravenna, Bryant, Wedgwood, Meadow Brook, View Ridge, Hawthorn Hills, Laurelhurst, Matthews Beach, Windermere, Maple Leaf, Belltown, Downtown, South Lake Union, Eastlake, Capital Hill, Madison Park, Washington Park, Denny Blain, Montlake, Portage Bay, Madrona, Leschi, Mt Baker, Seward Park, Columbia City, Judkins, Genesee, Beacon Hill and to the north of Seattle all of Shoreline. To the East of Seattle across Lake Washington we cover all of Bellevue, South Bellevue, Medina, Newport Shores, Viewmont, Redmond, Woodinville, Kirkland and Issaquah. We made a decision many years ago not to be just a "neighborhood" specialist but to take the time necessary to understand the total market. It's a lot more work but it pays huge dividends for our clients. Today a Buyer will comes to Seattle being able to afford a particular price range and having very specific needs. There could be three or four different neighborhoods or areas that would work best for that Buyer. Each one of those neighborhoods will have differing home values because of views, proximity to shopping, quality of the original construction, schools, etc. We fully understand the total market area and the schools in each area so we can really hone in on the best areas to buy in for that particular client. Our knowledge also results in a huge time saver for our clients as well as we are not going to try to make their needs fit into only one or two areas.
Real Estate in Seattle has been very volatile for the past several years. We have had periods (3 to 9 months in duration) almost every year since 1995 where there are huge bidding wars on properties. Sometime those bidding wars are justified but many times they are not. Sellers will hold offers until a certain date and many buyers will pay for pre-inspection so they can waive the Inspection, and then they will use an Escalation Clause saying that they will pay thousand's of dollars over the next highest offer but then not to exceed a price that is some times ten's of thousands of dollars more than the asking price. When this feeding frenzy market is happening it is common to see houses that are actually worth $550,000 sell for $650,000. We have even seen properties sell for over a million dollars more than the asking price. We make sure our clients fully understand the property and the situation if there is going to be a bidding war and help them set a realistic limit on if they should bid on it and if they do what is the maximum they should go over the asking price. We have had several situations where our client wasn't the highest bidder but we got the house anyway. And there have been many times where we have advised our clients not to get involved at all. Every situation is different and has to be fully analyzed and understood before moving on. We also know that many home buying decisions are made emotionally and we really are really good in maintaining a reasonable perspective on things.
We are good at what we do because we like what we do and we depend on our clients for future business. It's like we put the future of our business into our client's hands. If we do an outstanding job for them, and make it so our clients say "WOW" at least twice during the process then they will refer other people to us. Over 80% of our business comes from a referral from a past client.
In 2004 Seattle Magazine commissioned an outside marketing company to come up with what they call "5 Star Best in Client Satisfaction Award." The company sent out 30,000 questionnaires to recent buyers and home sellers, and Title and Escrow Companies to rank local Seattle Real Estate Agents on:
Only 7% of the Seattle area Real Estate Agents have won this award once and we have won it for three consecutive years, 2004, 2005 and 2006 and 2007. This puts us in the top 1% of Seattle Real Estate Agents.
Since we joined RE/MAX in 1998 we have been awarded many honors as well:
RE/MAX Awards
Platinum Club (RE/MAX's Highest Award for Results) 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006
RE/MAX Hall of Fame Award 2006
National Association of Realtors Designations:
ABR - Accredited Buyer Representative
CRS - Certified Residential Specialist
GRI - Graduate REALTOR Institute
Associate Brokers License - State of Washington
Dear Prospective Home Buyer:
My husband, Brian, and I recently purchased a home in the Queen Anne area of Seattle. Our Realtor for this transaction was David & Karen Bell. I am writing this letter to enthusiastically recommend David & Karen to you if you are considering buying a home in the Seattle area. Brian and I first met David at an open house. We were initially impressed with David's straightforward manner and his interest in working for us as a "Buyers Agent". When we eventually selected a Realtor, we interviewed a number of people, including David & Karen. We choose David & Karen over the other Realtors we were considering because they appeared to particularly knowledgeable about the Queen Anne, Magnolia, and Capital Hill areas of Seattle and these were the locations where we were most interested in buying a home. They also had a unique, in-depth, and refreshing understanding of what a Buyers Agent should do to represent their clients. In addition, David & Karen exhibited none of the high-pressure techniques we had come to associate with other Realtors we had met.
We first began seriously looking for a home in March of last year and made an offer on the home we ultimately purchased in June. During the four months we looked for our home, David & Karen contacted either my husband or me almost daily with information about new listings. After viewing several houses with us in the beginning of our search, David & Karen quickly understood what was important to us in a house and what styles of homes we preferred. They then prescreened many of the new listings for us and provided us with detailed information about the houses so we could decide whether to look at them ourselves. This type of hands-on service was very important to us because we didn't want to take the time to look at every house in our price range. We are both professionals and have very busy and demanding schedules. We also found that they responded very quickly when a new house came on the market so we would not lose any opportunities through delay.
During our search, there were several houses that came fairly close to meeting our requirements before we found the house that we eventually bought. David & Karen didn't try to push us into making offers on these other houses and when we decided not to, they were very supportive of our choices. On the one house on which we made an offer that was not accepted, David & Karen thoroughly researched the comparable in the area and advised us what they believed the market value of the house to be. This was the price that we offered. The sellers were unwilling at that time to come down from their list price and we passed on the house on David's advice. We later learned that after languishing on the market for many months, this house sold for exactly what David & Karen had advised us it was worth. David & Karen's expertise in valuing real estate saved us thousands of dollars that we might have paid for this overpriced house if we had not been properly advised.
Although we spent many weeks looking for our house, David & Karen never appeared to be in a hurry to close a deal and did not pressure us into making a hasty decision. On the contrary, they consistently appeared to be truly interested in finding us a home that we would love regardless of how much time it took.
When they ultimately found us our new home, they negotiated a great deal for us. The house had been on the market for almost a year and was overpriced. It was a wonderful home with a fantastic view and it was well over our price range. After we sat down with them and strategized our offer, we never thought that we could get it for what David & Karen suggested we offer for it. They are great negotiators!! They also helped us through every step of the escrow process and recommended an excellent mortgage broker that we used to obtain financing. The transaction went off without a hitch and we truly love the house we bought.
We would recommend David & Karen to you without hesitation. Working with them was a great pleasure.
Very truly yours,
Bonnie & Brian
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I found David & Karen's daily "check-in(s)" with me made all the difference in my level of comfort and trust. David & Karen Bell are outstanding Realtors and I would recommend them to my friends.
Diane S.
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David & Karen,
Thank you for your interesting and useful mailings. Your reports are impressive because you address the essential concerns that persons engaged in buying or selling a home have to deal with. What you offer is beyond the routine of the industry.
Mary D.
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Dear Mr. & Mrs. Bell,
It's not often in life that we in today's society get a chance to thank someone for an act of kindness. Most of the time these acts go unnoticed through out our lives. Well, this one will not go without being noticed.
Last year while my fiancée was returning home from her job, she had the misfortune of being involved in an automobile accident in Seattle. As she sat there in her car in a daze and in shock, it was you who came to her aide. She sustained minor injuries in the accident but was still in no condition to realize what was going on around her. You were the ones to comfort her and insure that not only was I called to be informed of the accident but her parents were as well. It is my understanding that you also stayed there for quite a while to ensure that she was taken care of. Your call enabled her parents and me to meet her at the hospital. Had it not been for your call, our trip to the hospital would have been one of sheer fear and anxiety. I gathered from your call that she was not badly hurt and that the ambulance was taking her to the hospital.
No one forced you to do what you did, your genuine concern for the welfare of others and your selfless act distinguish you from your peers and associates. For this I commend you and wish to thank you for what you chose to do.
Jim & Susie
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David & Karen,
I want to thank you for all your efforts on the Seattle side of this transaction! I really appreciate your professionalism and ability to get the job done. I don't believe this would have worked out without you!
Beverly W., Century 21, Honolulu
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David & Karen,
We want to formally thank you for helping us with the sale of our Queen Anne home. Your attention to detail and professional attitude together with a keen knowledge of the local market and positive working relationships with other agents and brokers in the area were major factors, not just in attracting an acceptable offer but, in making certain that the transaction closed.
Bob & Marilyn K
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Here I am spending my first Christmas in my new home. I just bought a tree and have placed it by the window. I'm now beginning to feel like this is all real and this is mine. Thank you helping me realize my dream.
Liz L.
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Dear Karen & David
Thank you for all you did to make our relocation to Seattle pleasant and smooth. We were regularly impressed by your professional knowledge of markets, strategies, procedures and by your connections to others who were as professional in their work. It was a pleasure working with you.
Keith B.
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As I prepared for a cross-country move from New Orleans to Seattle, I had a to-do list a mile long and the impossible task of finding my first home long distance. Luckily, I found David and Karen Bell on-line. Long conversations by phone and a three-day visit to Seattle early in the month led me to a place that was just right for me and in my price range.
After my arrival in Seattle, David and Karen proved to be tireless partners in helping me through what proved to be a challenging first escrow process. Their insight and attention to detail was invaluable. With so much else to do that accompanies a big move and a new job, it was a relief to know that in every detail of my home buying experience, the Bells had it covered. By the time I closed on my first home, I felt like they had almost as much invested in my happiness as I did.
Sincerely, and with much thanks
Michelle M
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David & Karen,
We really don't know how to thank you enough for all your help. You did so much to help make our move to Seattle as smooth and easy as possible. We absolutely love our place and have you to thank for it. We have really appreciated your honesty and the trust since day one. We wouldn't be where we are with out you! Thanks you again.
Dr. Scott & Jonnett M
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David & Karen,
With many thanks for the wonderful job and for being wonderful to us!
Rich & Gretchen W
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David & Karen,
We had always thought that all real estate agents were pretty much the same until we met you. Not only did you tell us that our house was worth $100,000 more than the other three agents we met with, you got us every penny of it. You really know what you are doing and your follow-up and integrity is the very best. Thank you both very much.
Dr. Tony & Carolyn W
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