Last month I reported about putting my house on the market, and I hoped to report back to you soon with good news. Well, here it is: It's SOLD!  

Click here to learn more about how I selected my realtor, what I learned about the market, and how I put a good luck charm to work for me. You might want to try it too!

Visit my blog anytime. And if you have a question or comment, please send me an e-mail. I'd love to hear from you!

Market observations from one of Emerald Heights' preferred realtors, Bill Badgley of Badgley & Badgley:

"The recession is over." Those were the words of Mathew Gardner, a noted Northwest economist who spoke to a large audience of Windermere agents at Benaroya Hall in downtown Seattle on Friday, February 5, 2010.

They were the sweetest words regarding the economy that we have heard in the last two years, and we have begun to see evidence that Mr. Gardner is right.

In our last communication to you in June 2009, we spoke of the returning market strength in the sub $500,000 price range, and this continues to be the case. However, we have now seen the market show signs of recovery in certain geographical areas in price ranges that approach the $2,000,000 mark. Among the trends that we have noted is that location is still important, and the stronger locations are always those that offer the buyers a short commute to the business centers -- with Bellevue being the strongest in the Eastside marketplace.

One of the most interesting trends that we observed during the latter half of 2009 was the sale of nearly all of the expensive short sale and foreclosure properties in the west Bellevue and Clyde Hill communities. However, it must be noted that these homes sold for far less than what they were originally built to sell for, with many lenders suffering some serious losses in their short sale or foreclosure clearances.

Another strong indicator that confirms that our local real estate market is recovering is the overall reduction in inventory at the same time that we have more activity in the market. The first table below shows the comparison between the "Active" inventory from one year ago compared to the current inventory, and the second table shows a comparison between the "Pending" sales for the same period. What an improvement!




(If you cannot see two tables above, click here to view this report in your web browser.)


The "Pending" sales reflect a dramatic improvement from one year ago, and with inventory down, this means a much more robust market for sellers. Home values will begin to recover in this kind of market, but we would still urge a lot of caution in your expectations regarding that improvement. A closer look at what makes up these statistics also shows that the average home prices are down 10% or more from February 2009. It's still the lower priced homes that are selling. Above $500,000 the market continues to be spotty and lethargic.

It's relatively easy to inspire nature lovers to hit the trails on a sunny day, but only the true enthusiasts -- like those in the Emerald Heights Outdoor Club -- keep up this endeavor year-round.

Click here to learn more about the club and view an updated slideshow of their favorite hikes. (This article was originally published in September 2009.)