SOLD • June 25, 2024

SOLD: Custom Burien home, Uplands MidCentury & Marine Hills MidCentury Modern

by Don Koonce

SOLD / CLOSED THIS MONTH

11423 12th Avenue SW
Burien, WA 98146
$769,950

MLS #2233399
CLIP #7641486981
Beds: 3
Baths: 3
Size: 1,710 sqft

Welcome to this custom, like new home tucked away in the heart of Burien. This 3 bed, 2.5 bath home boasts over 1,700 sq. ft. w/ primary bed on the main floor w/ ensuite & walk-in closet. Open concept living consists of custom wood fireplace & open concept kitchen & vaulted ceilings flooding w/ natural light. Next, you’ll find an oversized mudroom/utility room w/ built-ins & plumbing for utility sink. Home consists of oversized 1-car garage @ over 600 sq. ft. Upstairs you’ll find loft area for flex space & 2 bedrooms w/ a full bath. Outside’s a great sized yard & patio. Heat pump for all year heating & cooling & recirculating water heater for instant hot water. Close to shopping, downtown Burien, & more, you’ll love calling this place home! More.

LISTING SOLD / CLOSED

5735 S Hawthorn Road
Seattle, WA 98118
$1,498,000

MLS #2230490
Beds: 5
Baths: 4
Size: 3,058 sqft

Exciting MidCentury in prime Uplands location 2 blocks from Lk WA! Custom-design features of notable UW Architect, John Y Sato, are well-preserved – only 2nd long term owner since the orig. 1967 build. Plenty to showcase here: Vaulted foyer entry, Lk WA & Mt. Baker-to-Mt. Rainier views, soaring basalt rock firplc holding center-stage in liv/din rooms. Fancy updated Quartz/Thermador/Miele kitch has informal dining & opens to famrm w/2nd firplc, window wall of views. Primary & 2nd bedrm both w/ ensuites! Daylite Bsmt:2nd livrm, 2nd kitch, 3rd firplc, 3bedrms, full bath. Beautifl landscaping & patios, view decks, secure gated entry, TONS of storage! Upgrades incl Solar panels, mini-splits, A/C, EV Charging, new LVP floors & more. A rare prize. More.

LISTING NOW UNDER CONTRACT / PENDING

29824 8th Avenue S
Federal Way, WA 98003
$598,950

MLS #2240991
CLIP #5224374523
Beds: 3
Baths: 3
Size: 2,260 sqft

MidCentury Modern vibes ideally located in prized Marine Hills neighborhd, known for its large private lots in serene settings near the shores of Puget Sound. Long term owner’s pride & joy, polished MCM finishes thru-out. Soaring vaulted ceilings, oak hardwds, corner firplc open to living/dining, eat-in kitch, custom glass windows & drs for max. exposure to sunlight, towering evergreens & scenic flowering landscape. 3 spacious bedrms/1.75bths main flr incl. privt bth off primary bedrm. LL: Recrm, 2nd firplc, office, 1/2bth. GIGANTIC garage & workshop, lovely private outdoor spaces, patios & gazebo. Metal roof, gas heat & water heater, new septic 2022. Easy stroll to Redondo Waterfront, MH Swim Club, short hop to Dash Point. Great Buy! More.

Buyers • June 21, 2024

Client Spotlight: Kate & Family Buy their First Home

by Don Koonce

I was honored to help Kate and her family find their perfect starter home — a new four bedroom / three bath in Columbia City, and thrilled to receive the following review:

We can’t recommend Don Koonce enough! We couldn’t have chosen a better realtor to work with! Don was amazing start to finish, he coordinated with the other parties flawlessly and was highly available for our questions. He took the time to explain everything that was happening and what we could expect from each step or requirement. He shared with us that he really enjoyed working with first-time home buyers and with people co-buying a house together – that was also evident in his attention to detail, clear explanations, and going the extra mile when working with us. He was such a joy to work with, and it’s bittersweet to close out our time with him. Thank you, Don, for helping us find the perfect house!

Real Estate News & Information • June 20, 2024

Local Market Update – June 2024

by Don Koonce

Local Market Update – June 2024

The numbers are in, and last month’s real estate sales data in our region told two tales. The first is of a market that has had far more demand than supply, with rising prices and quickening market times reflecting this imbalance. The second tale is of a market attracting the attention of sellers eager to list their homes while prices are at their peak, finally helping address the demand-supply imbalance and giving buyers renewed hope after a challenging spring.

In May, both inventory levels and closed sales transactions increased compared to a year ago, indicating that home buyers and sellers alike have adjusted to interest rates hovering around 7%. Market strategists are hopeful that for-sale inventory will continue its upward trend, which could stabilize price levels over the summer months.

In May, the median sold price of a King County home hit the million-dollar mark, increasing 10% year over year to $1,001,000. This record-high price largely reflects home sales that went under contract in April, when inventory was at its scarcest and buyer competition at its most intense, with the majority of homes selling above list price and in under a week. King County condos also saw sold prices jump in May, rising 18% year over year to $595,000. As a counter to these price increases, the supply logjam is starting to break. By the end of May, King County had 48% more active residential listings and 26% more condo listings than it did when the month started. This influx of new inventory should help modulate prices in the months ahead.

Last month, the median sold price of a Seattle single-family home increased 7% year over year to $965,000. There were 13% more homes sold than a year ago and 68% closed at or above list price. Seattle condo prices rose in May, too, up 9% from $550,000 last year to $600,000. Despite these price increases, there is hope on the horizon for buyers: more selection to choose from. By May 31, the number of actively listed single-family homes was up 41% from May 1, and condo supply had risen by 20% during the month. This new inventory might slow price growth and offer light at the end of the tunnel for Seattle home and condo buyers previously shut out of the competitive spring market.

The Eastside real estate market saw a 32% year-over-year increase in the number of single-family homes sold in May, as well as a 17% bump in median residential sold prices, up from $1,450,000 a year ago to $1,699,975. Of the homes sold on the Eastside last month, almost 6 in 10 closed above list price, and those averaged only five days on the market. Despite these hyper-competitive factors, we may see upcoming market mellowing in both price and pace, as the Eastside had 53% more active residential listings on May 31 than it had on May 1. The same dynamics played out in the Eastside condo market: Closed unit sales jumped 36% year over year, median sold prices were up 29% to $748,500, and active inventory climbed 38% over the course of the month.

In Snohomish County, the median sold price of a single-family home rose 6% year over year, from $780,000 in May 2023 to $828,000. Over half of May’s sold homes closed above list price and 89% sold in 30 days or less. These data reflect closed sales of listings that went under contract during the peak of the spring market, and as with the other three regions above, we may begin to see some market modulation in the coming months due to increased inventory. Snohomish County had 84% more residential listings and 32% more condo listings at the end of May than at the start of the month, a meteoric increase indeed.

In a market where bidding wars have been the norm and buyer competition has pushed home and condo prices ever higher, an infusion of new inventory is like a breath of fresh air. Though May’s sales data reflect the outcome of a seller-friendly spring market, the summer months should be an interesting mix of mellowing competition and sidelined buyers re-engaging with a more open listings landscape.

For help navigating this shift in the market, reach out to your Windermere broker. With a deep understanding of current trends and a laser focus on your priorities, they’ll provide personalized guidance and detailed analysis to help you achieve your goals.

More.

Living • June 18, 2024

Home Maintenance Checklist: Summer Edition

by Don Koonce

As summer nears, who doesn’t dream of camping trips, weekend getaways, and hammock lay-arounds? But before you book your entire summer, remember that it’s also an important time for home maintenance and repair, particularly outdoors. Whether you’re prepping your home for summer fun or enhancing its efficiency, here’s a checklist to consider while the weather is warm.

Check and service AC system

Optimize your home for cooler temperatures by having your AC system checked and serviced, which prolongs the life of your unit and prevents costly repairs. Also be sure to change the AC filter regularly — up to once a month in the summer.

Seal air escape routes

Keep cool air from escaping by sealing your windows and doors tight. Check for any gaps or cracks in your window seals and door frames. Replace weatherstripping or apply caulking as needed to improve energy efficiency and keep costs down.

Maintain your patios and fencing

Spruce up your deck, patio, and fence by sweeping away debris, cleaning and sealing surfaces, and checking for needed repairs. Mold and mildew are common here, so consider pressure washing on a lower setting before sealing to keep everything looking fresh and clean.

Prep for summer entertaining

Give your grilling surfaces a makeover by removing built-up grease and debris from the grill grates, burners, and drip pans. Next, check your propane levels to ensure you’re ready for the season. Also wipe down your outdoor furniture and lighting and replace burnt-out bulbs, so guests have a comfortable, well-lit space to relax.

Inspect your roof

The warm, dry air makes summer the perfect time for roof maintenance. Look for damaged or missing shingles, soft spots, or areas where roof flashing may need repair. While you can handle some repairs yourself — flashing issues can often be fixed with a new layer of caulk or mortar — it’s best to hire a professional if you see signs of water damage.

Fix your gutters

Cleaning your gutters may be a year-round affair, but gutter repair is a warm-weather activity. Inspect your gutters and downspouts for cracks, sags, loose fasteners, and rust spots and fix as necessary. You can seal smaller leaks with gutter sealant or a patch kit, but you’ll likely want to replace sections with more significant damage.

Give your garden some love

Weeds can flourish in hot weather and compete with your plants for moisture and nutrients. Combat this by regularly pulling weeds and applying a 2-inch layer of mulch in your planting areas. Also, remember to water wisely, preferably early in the morning or late in the evening, to minimize evaporation and ensure efficient water usage.

Tend to your pool

Your pool has been waiting all year to show off. Keep it pristine and safe for swimmers by
regularly checking and maintaining the chemical levels to prevent contaminants and pollutants. Another safety tip: ensure all safety equipment, such as pool covers and ladders, are in good condition.

Most important of all, take advantage of the sunshine for some well-deserved R&R!

Sellers • June 13, 2024

Staging for Home Selling Success

by Don Koonce

The benefits of staging a home are well documented. Numerous studies show that staging helps sell a home faster and for a higher price. Studies also indicate that buyers decide if they’re interested within the first 30 seconds of entering a home. Not only does home staging help to remove potential red flags that can turn buyers off, it also helps them imagine living there. Homes that are professionally staged look more “move-in ready,” which makes them far more appealing to potential buyers.

Ready to get started?

If you’re ready to put your house on the market and want to try your hand at staging, here are some concepts to keep in mind:

Aim for Cohesion

Make the inside match the outside. For example, if the exterior architectural style of your house is mid-century modern, the interior should be primarily outfitted with mid-century modern style furniture. Prospective buyers who like the exterior style of your home are going to expect something similar when they step inside. If the two styles don’t agree or at least complement each other, there is likely going to be an immediate disconnect for the buyer.

There is always room for flexibility. Not all your furnishings need to match, and even the primary furnishings do not need to be an exact match to the architectural style of your home. To create cohesion, you simply need to reflect the overall look-and-feel of the exterior.

Neutralize and Brighten

Every home is a personal expression of its owner. But when you become a seller, you’ll want to look for ways to make your home appeal to your target market. Keep in mind, your target market is made up of the group of people most likely to be interested in a home like yours—which is something your agent can help you determine.

A good strategy to staging your home is to “neutralize” the design of your interior. A truly neutral interior design allows people to easily imagine their own belongings in the space—and to envision how some simple changes would make it uniquely their own.

Paint over bold wall colors with something more neutral, like a light beige, warm gray, or soft brown. The old advice used to be, “paint everything white,” but often that creates too sterile of an environment, while dark colors can make a room look small, even a bit dirty. Muted tones and soft colors work best. Likewise, consider removing wallpaper if it’s a bold or busy design.

Lighting is key. Replace heavy, dark curtains with neutral-colored shear versions; this will soften the hard edges around windows while letting in lots of natural light. Turn on lamps, and if necessary, install lighting fixtures to brighten any dark spaces—especially the entry area.

Clean and De-Clutter

To further inspire buyers to imagine the space as their own, make sure every room—including closets and the garage—is clean and clutter-free. You may even want to hire professionals to give your home a thorough deep clean. Remember, the kitchen and bathrooms are by far the two most important rooms in a house when selling, so ongoing maintenance is important.

Family photos, personal memorabilia, and collectibles should be removed from the home for your safety. Closets, shelves, and other storage areas should be mostly empty. Work benches should be free of tools and projects. Clear the kitchen counters, store non-necessary cookware, and remove magnets from the refrigerator door.

The same goes for furniture. If removing a chair, a lamp, a table, or other furnishings will make a particular space look larger or more inviting, then do it.

You don’t want your home to appear cold, un-loved, or unlived-in, but you do want to remove distractions and provide prospective buyers with a blank canvas of sorts. Plus, de-cluttering your home now will make it that much easier to pack when it comes time to move.

Where to Start

If you’re concerned about the additional cost of staging, rest assured. Even a relatively small investment of time and money can reap big returns. There are even things you can do yourself for little to no cost. Contact your agent for advice on how to stage your home most effectively or for a recommendation on a professional stager. While the simple interior design techniques outlined above may seem more like common sense than marketing magic, you’d be surprised at how many homeowners routinely overlook them. And the results are clear: staging your house to make it more appealing to buyers is often all it takes to speed the sale and boost the sale price.

Buyers • Sellers • June 11, 2024

Why Buyer Representation Should Matter So Much to Sellers

by Don Koonce

In today’s rapidly changing real estate landscape, understanding the critical role of buyer representation has never been more essential for home sellers. With the pending NAR settlement on the horizon, many sellers may not fully grasp the significant impact these changes will have on their transactions. The urgency to adapt is real, and overlooking the necessity of paying a buyer agent commission could expose sellers to unforeseen risks.

Currently, home buyers are not allowed to roll their buyer agent compensation into their loan. This means they must bring cash to the table to pay their agent (if the seller is not offering buyer agent compensation).

Unrepresented buyers should be considered more than a minor hiccup—it can lead to a cascade of complications that jeopardize the entire deal. To safeguard your investment and ensure a smooth transaction, it’s crucial to recognize the invaluable support a buyer’s agent provides.

What value does a seller receive if the buyer has professional representation? Let us list the ways:

Lender Connections: Buyer agents connect their buyers with well-vetted (and typically local) lender partners who have proven time and again that they can close a transaction, and on time.

Documentation Management: Buyer agents ensure that buyers have delivered all necessary documentation to the lender to ensure full underwriting.

Market Analysis: Buyer agents provide comparable market analysis reports (CMAs) to help buyers understand the market value of the home and support a reasonable offer price.

Contract Guidance: Buyer agents guide their clients through the purchase and sale agreement, ensuring that they understand the terms and conditions and their ability to fulfill their commitments.

Contingency Explanation: Buyer agents explain all contingencies to buyers, ensuring they understand the risks and rewards, especially when waiving contingencies.

Earnest Money Handling: Buyer agents ensure that earnest money funds are delivered to escrow on time.

Transaction Deadlines: Buyer agents ensure that their client and their lender observe and adhere to all deadlines to keep the transaction flowing smoothly and closing on time.

Inspection Access: Buyer agents provide access to home inspectors and help their buyers understand the reports. This is critical as most MLS associations require an agent to be present whenever a door is opened. If the buyer doesn’t have representation, the listing agent must give access, exposing them to inspection findings and forcing them to disclose on behalf of the seller.

Appraisal Assistance: Buyer agents give access to appraisers and typically provide reports of comparable properties to support the purchase price, ensuring the property appraises at value.

Negotiation Support: If the appraisal report comes in less than the purchase price, the buyer agent will help negotiate and collaborate with the listing agent to ensure a mutual agreement is reached by all parties.

Transaction Coordination: Most importantly, the buyer broker helps keep their client and all parties on track to ensure closing, and crucially, on time.

The value a buyer agent brings to the transaction is indispensable. Their expertise not only facilitates a smoother process but also protects all parties involved from potential pitfalls. By ensuring the buyer has professional representation, sellers can avoid significant risks and secure a successful transaction. In the evolving real estate market, investing in buyer agent compensation is a wise decision that benefits everyone involved.

Cassie Walker Johnson is a Managing Broker at Windermere Real Estate in Seattle, WA. This blog originally published on Inman News on 5/21/24.

Community News & Information • June 6, 2024

Seattle Identifies 24 Neighborhoods for Housing Growth

by Don Koonce

In line with Seattle’s Comprehensive Plan – essentially a road map to growth over the next two decades – Mayor Bruce Harrell is proposing 24 “neighborhood centers” across the city, including several in southeast Seattle.

The proposal would allow for apartment buildings of three to six stories to be built within a couple blocks of key intersections, supplementing longstanding “urban villages” (like the mini downtowns of Ballard or Columbia City, for example). The centers would offer denser housing close to shops and services, creating more “15-minute” neighborhoods where residents could meet basic needs by walking or biking not more than 15 minutes from home. See the map of selected neighborhoods here.

Anticipating resistance from neighborhoods that have already opposed greater density, such as Wedgwood, Harrell’s proposal targets spots that already have some apartments or stores, so the expanded development wouldn’t be perceived as such a drastic change.

Harrell’s plan splits the difference between Seattle’s status quo strategy, which could produce 80,000 new homes by 2044, and a more aggressive approach called Alternative 5, which could produce 120,000 units. The current neighborhood center plan predicts adding at least 100,000 homes. Harrell’s ideas are more conservative than Alternative 5 in that apartments would be added directly along arterial streets like 35^th Avenue Northeast (instead of within walking distance of frequent transit routes), and instead of creating 40 centers with a radius of about 1,000 feet each, the mayor’s plan would create 24 that extend about 800 feet.

In drafting the proposal, officials looked for intersections near frequent transit, shops and services, with opportunities for new apartments and in areas less likely to displace lower-income residences. Many of the sites that made it to the final round were already identified by the city in 1994 as places to anchor services and housing. To that point, Matt Hutchins, a pro-density architect, believes these centers could unlock the development potential of areas where growth should have already occurred and could support more rent-restricted housing in the coming years.

Harrell’s draft plan is under a 60-day comment period, which wraps up next month, after which revisions will begin.

The 24 proposed neighborhoods are:

NE 130th Street
23rd & Union–Jackson
Admiral
Aurora–Licton Springs
Bitter Lake
Columbia City
Crown Hill
Eastlake
Fremont
Green Lake
Greenwood
Lake City
Madison–Miller
Morgan Junction
North Beacon Hill
North Rainier
Othello
Rainier Beach
Roosevelt
South Park
Upper Queen Anne
Wallingford
West Seattle Junction
Westwood–Highland Park

This post was based on information found on Seattle Times.

Design • June 4, 2024

What Defines Houseboat Architecture?

by Don Koonce

Waterfront living appeals to many homeowners who seek the sights and sounds that only water can provide. Maybe you dream about hearing the waves hitting the shore as you fall asleep or being mere steps away from your own boat launch. The possibilities are endless, but for the ultimate waterfront property, houseboats are made for those who truly love the water.

Though it’s possible to live on a boat, houseboats differ from traditional water-borne vessels in a few key ways. For instance, they are moored in one location and, even though some have motors, they aren’t usually easily moveable from place to place. For the purposes of this article, we’ll focus on non-cruising houseboats—or as they’re also known, floating homes.

Houseboats are real property

If you choose to make a houseboat your home, you can expect many of the same responsibilities of a traditional home. You’ll need access to utilities, and you may pay property taxes. Houseboats are often moored in marinas or on docks that require moorage fees and for homeowners to join homeowners association organizations. Because houseboats are often quite literally floating single-family homes, they aren’t easily relocated, so the location of the houseboat is an important factor to consider.

Houseboats are typically modest in size

Most houseboats in the Western United States are relatively small compared to traditional houses. This is because many of them started out as shanty houses in the early 20^th century for boat builders and fishermen who needed places to live.

Though you can find luxurious houseboats whose size and amenities rival land-based luxury homes, most houseboat owners get around the limitations of the small footprint by building up instead of out, adding second stories and rooftop decks.

Houseboats are ideal for minimalist living

Due to their size and lack of storage, houseboats are best suited for small families, empty nesters, or single occupants. What they lack in space, they make up for in the perks of being so close to nature and the rhythms of the water. And while living on the water brings different home maintenance responsibilities than living on land, you can say goodbye to chores like mowing the grass.

Houseboats are as diverse as traditional houses

Just like homes on solid ground, houseboats are built from a wide variety of materials and can range in style from mid-century modern to cozy cottage. And while they might lack land, many houseboats have outdoor living spaces and rooftop patios that allow for further enjoyment of the natural landscapes surrounding them.

SOLD • May 29, 2024

SOLD: Brand New Columbia City Home + Custom, Like-New Home in Burien

by Don Koonce

5907 44th Avenue S
Seattle, WA 98118
$910,000

MLS #2206014
Beds: 4
Baths: 3
Size: 1,920 sqft
Days on OneHome: 41

CHARMING BRAND NEW 4Bd/3Ba Listing in Columbia City! Fully Fenced & Gated Oasis in the City w/Covered Front Porch, Back Deck, Lawn & Garden spaces. Refreshed Liv & Din Rms w/Laminate Floors plus 1Bd/1Full Bath on Main w/NEW Kitchen w/Espresso Cabs, Quartz Counters, Full Tile Backsplash, SS Appliance Package w/Large Island which opens to Private Outdoor Living Space w/New Deck. Upper Primary Bd w/En Suite Full Bath w/Custom Tile + 2nd Bd. Fully Finished Basement w/Sep Entry, 2nd Kit w/Quartz, Tile, SS, Dining, Fam Rm, 1Bd/1 Full Bath w/Custom Tile + Laundry Rm. Rare 1-Car Garage + 1-Car Off Street Parking Space. Remodel Includes: NEW Windows, Roof, Insulation, Furnce, Lighting, Appliances, Floors, Finishes & White-Painted Millwork & Doors.

UNDER CONTRACT FOR BUYERS

11423 12th Avenue SW
Burien, WA 98146
$769,950

MLS #2233399
CLIP #7641486981
Beds: 3
Baths: 3
Size: 1,710 sqft

Real Estate News & Information • May 28, 2024

NEW LISTING: MidCentury Modern Vibes in Prized Marine Hills Neighborhood

by Don Koonce

29824 8th Avenue S
Federal Way, WA 98003
$598,950

MLS #2240991
CLIP #5224374523
Beds: 3
Baths: 3
Size: 2,260 sqft

MidCentury Modern vibes ideally located in prized Marine Hills neighborhood, known for its large private lots in serene settings near the shores of Puget Sound. Long term owner’s pride and joy, polished MCM finishes thru-out. Soaring vaulted ceilings, oak hardwoods, corner fireplace open to living/dining, eat-in kitchen, custom glass windows and doors for max. exposure to sunlight, towering evergreens & scenic flowering landscape. Three spacious bedrooms/1.75bths main floor incl. private bath off primary bedroom. LL: Recroom, 2nd fireplace, office, 1/2bth. GIGANTIC garage and workshop, lovely private outdoor spaces, patios and gazebo. Metal roof, gas heat and water heater, new septic 2022. Easy stroll to Redondo Waterfront, MH Swim Club, short hop to Dash Point. Great Buy!

Information provided as a courtesy only, buyer to verify. For more, go here.