Bellevue Real Estate http://eastbellevuere.com Your source for reliable information on Bellevue's residential real estate market. Sat, 28 Aug 2010 17:58:12 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 About This Site http://eastbellevuere.com/index.php/2009/06/01/about-this-site/ http://eastbellevuere.com/index.php/2009/06/01/about-this-site/#comments Mon, 01 Jun 2009 07:05:39 +0000 George Thurtle http://eastbellevuere.com/?p=12

Bellevue Homes and the Bellevue residential real estate market is what we keep track of and what we talk about here. Bellevue has three distinct neighborhoods. East Bellevue has affordable homes in a great location with easy access to major employment centers and shopping. East Bellevue is the focus of the City of Bellevue’s neighborhood planning and transportation infrastructure for the future; this will be an area to watch. West Bellevue is located west of I-405 and has a variety of neighborhoods and is the area that contains neighborhoods such as Clyde Hill, Medina and Vuecrest and is home to some of the wealthiest people in the world. However don’t be fooled there are nice affordable older homes in neighborhoods you can walk to downtown Bellevue from. South Bellevue is south of I-90 and is known for its view neighborhoods such as Somerset and Lakemont and affordable well located family homes in the Eastgate neighborhood. Great I-90 access with some of the best views in the Puget Sound area is the highlight of this area.

In order to help you better understand the Bellevue Home market this site keeps track of statistics for each of the three Bellevue Home market areas. You will see that monthly statistics are available for all neighborhoods and weekly trends provided by Altos Research. Each Saturday there is a Distressed Inventory report and each Monday is the Weekly Scorecard which reports on the sales activity for each of the three Bellevue Home market areas. There are general posts from time to time commenting on market trends and events which may have an impact on the local real estate market.

Bellevue has one of the most vibrant economies in the world and keeping track of the residential real estate market is very important in assisting you regarding a buying and selling decision. In addition we have information about schools and parks for the various neighborhoods to help you understand each area a little better.

Your suggestions and comments are appreciated so please let me know. This site will continually evolve to supply the information you want.

]]> http://eastbellevuere.com/index.php/2009/06/01/about-this-site/feed/ 0 East Bellevue Real Estate Statistics http://eastbellevuere.com/index.php/2009/06/01/east-bellevue-real-estate-statistics/ http://eastbellevuere.com/index.php/2009/06/01/east-bellevue-real-estate-statistics/#comments Mon, 01 Jun 2009 07:04:06 +0000 George Thurtle http://eastbellevuere.com/?p=6

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]]> http://eastbellevuere.com/index.php/2009/06/01/east-bellevue-real-estate-statistics/feed/ 0 Weekly East Bellevue Real Estate Statistics http://eastbellevuere.com/index.php/2009/06/01/weekly-east-bellevue-real-estate-statistics/ http://eastbellevuere.com/index.php/2009/06/01/weekly-east-bellevue-real-estate-statistics/#comments Mon, 01 Jun 2009 07:03:32 +0000 George Thurtle http://eastbellevuere.com/?p=10

The following charts of East Bellevue real estate statistics are updated weekly, and provided by Altos Research.

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Weekly Stats for 98004

Median Price
98004 Median Price | Real Estate Market Chart by Altos Research www.altosresearch.com
Inventory
98004 Inventory | Real Estate Market Chart by Altos Research www.altosresearch.com
Average Days on Market
98004 Average Days on Market | Real Estate Market Chart by Altos Research www.altosresearch.com
Market Action Index
98004 Market Action Index | Real Estate Market Chart by Altos Research www.altosresearch.com

Weekly Stats for 98005

Median Price
98005 Median Price | Real Estate Market Chart by Altos Research www.altosresearch.com
Inventory
98005 Inventory | Real Estate Market Chart by Altos Research www.altosresearch.com
Average Days on Market
98005 Average Days on Market | Real Estate Market Chart by Altos Research www.altosresearch.com
Market Action Index
98005 Market Action Index | Real Estate Market Chart by Altos Research www.altosresearch.com

Weekly Stats for 98006

Median Price
98006 Median Price | Real Estate Market Chart by Altos Research www.altosresearch.com
Inventory
98006 Inventory | Real Estate Market Chart by Altos Research www.altosresearch.com
Average Days on Market
98006 Average Days on Market | Real Estate Market Chart by Altos Research www.altosresearch.com
Market Action Index
98006 Market Action Index | Real Estate Market Chart by Altos Research www.altosresearch.com

Weekly Stats for 98007

Median Price
98007 Median Price | Real Estate Market Chart by Altos Research www.altosresearch.com
Inventory
98007 Inventory | Real Estate Market Chart by Altos Research www.altosresearch.com
Average Days on Market
98007 Average Days on Market | Real Estate Market Chart by Altos Research www.altosresearch.com
Market Action Index
98007 Market Action Index | Real Estate Market Chart by Altos Research www.altosresearch.com

Weekly Stats for 98008

Median Price
98008 Median Price | Real Estate Market Chart by Altos Research www.altosresearch.com
Inventory
98008 Inventory | Real Estate Market Chart by Altos Research www.altosresearch.com
Average Days on Market
98008 Average Days on Market | Real Estate Market Chart by Altos Research www.altosresearch.com
Market Action Index
98008 Market Action Index | Real Estate Market Chart by Altos Research www.altosresearch.com
]]> http://eastbellevuere.com/index.php/2009/06/01/weekly-east-bellevue-real-estate-statistics/feed/ 0 Monthly Bellevue Real Estate Statistics http://eastbellevuere.com/index.php/2009/06/01/monthly-east-bellevue-real-estate-statistics/ http://eastbellevuere.com/index.php/2009/06/01/monthly-east-bellevue-real-estate-statistics/#comments Mon, 01 Jun 2009 07:02:10 +0000 admin http://eastbellevuere.com/?p=406

The following charts of Bellevue real estate statistics are updated monthly.

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For Sale Homes vs. Sold Homes

East Bellevue (NWMLS Area 530)

West Bellevue (NWMLS Area 520)

South of I-90 (NWMLS Area 500)

Eastside

New Construction Eastside

King County


Average Price Per Sq. Ft.

East Bellevue (NWMLS Area 530)

West Bellevue (NWMLS Area 520)

South of I-90 (NWMLS Area 500)

Eastside

New Construction Eastside

King County


Sold Price vs. Asking Price

East Bellevue (NWMLS Area 530)

West Bellevue (NWMLS Area 520)

South of I-90 (NWMLS Area 500)

Eastside

New Construction Eastside

King County


Months of Supply

East Bellevue (NWMLS Area 530)

West Bellevue (NWMLS Area 520)

South of I-90 (NWMLS Area 500)

Eastside

New Construction Eastside

King County

]]> http://eastbellevuere.com/index.php/2009/06/01/monthly-east-bellevue-real-estate-statistics/feed/ 0 Quarterly East Bellevue Statistics http://eastbellevuere.com/index.php/2009/06/01/quarterly-east-bellevue-statistics/ http://eastbellevuere.com/index.php/2009/06/01/quarterly-east-bellevue-statistics/#comments Mon, 01 Jun 2009 07:01:24 +0000 George Thurtle http://eastbellevuere.com/?p=8

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Quarterly Stats for 98004

Quarterly Stats for 98005

Quarterly Stats for 98006

Quarterly Stats for 98007

Quarterly Stats for 98008

]]> http://eastbellevuere.com/index.php/2009/06/01/quarterly-east-bellevue-statistics/feed/ 0 Distressed Inventory Report 8-28-10 http://eastbellevuere.com/index.php/2010/08/28/distressed-inventory-report-8-28-10/ http://eastbellevuere.com/index.php/2010/08/28/distressed-inventory-report-8-28-10/#comments Sat, 28 Aug 2010 17:58:12 +0000 George Thurtle http://eastbellevuere.com/?p=755 The inventory of distressed homes does appear to be peaking. There is a lot of turn over in the homes with Notice of Trustee Sale with many of those numbers falling; particularly in South Bellevue and East Bellevue.  You can most likely read into this that more banks are approving short sales. The only area which appears to be having a continuing increae in inventory is West Bellevue.  Both the number of bank owned and NYS homes were up and gradually continue to creep up.

If the distressed inventory is peaking that will be good for the market overall. However now the big concern in the next couple of months is a negative news cycle as Wall Street figures out that it was overly optimistic about the economy and comes to the realization that this cycle is not the traditional recovery cycle they are used to.

The spreadsheet is here: Bellevue Foreclosure Report 8-28-10

]]> http://eastbellevuere.com/index.php/2010/08/28/distressed-inventory-report-8-28-10/feed/ 0 Weekly Scorecard 8-23-10 http://eastbellevuere.com/index.php/2010/08/27/weekly-scorecard-8-23-10/ http://eastbellevuere.com/index.php/2010/08/27/weekly-scorecard-8-23-10/#comments Fri, 27 Aug 2010 15:04:57 +0000 George Thurtle http://eastbellevuere.com/?p=752 The numbers are somewhat interesting. It appears inventories are peaking except for West Bellevue where they continue to climb. The fundamentals of the West Bellevue market look a little weak with rising inventories and very week pending sales in the last four weeks. The closed sales look OK but those pending sales numbers are not good for the amount of the inventory and its average price.  The pending sales in East Bellevue and South Bellevue are also down but their inventory numbers do not appear to be rising. The closed sales numbers for South Bellevue were very impressive.

At some point in time the gap between the pending sales and the closed sales needs to narrow in order to see where this market will settle in at.

The spreadsheet is here: Weekly scorecard 8-24-10

]]> http://eastbellevuere.com/index.php/2010/08/27/weekly-scorecard-8-23-10/feed/ 0 Distressed Inventory Report 8-21-10 http://eastbellevuere.com/index.php/2010/08/21/distressed-inventory-report-8-21-10/ http://eastbellevuere.com/index.php/2010/08/21/distressed-inventory-report-8-21-10/#comments Sat, 21 Aug 2010 15:43:35 +0000 George Thurtle http://eastbellevuere.com/?p=749 The same trend continues as last week. It appears that both foreclosures and Notice of Trustee Sales have peaked. Again as I mentioned last week I am not sure if this is due to the seasonal work load of the loan servicers going on vacation but we will know by the third week in September.

The one trend that is interesting is that a lot of the reduction in inventory was for the Notice of Trustee Sale, it appears some of these homes are selling and some of these short sales actually closing. The last few months has seen this number steadly rise. Again it appears to be falling. A fall in this number was a sign the market was picking up like what happened last spring but I am not sensing that on a day to day basis yet. Let’s see what happens.

The spreadsheet is here: Bellevue Foreclosure Report 8-21-10

]]> http://eastbellevuere.com/index.php/2010/08/21/distressed-inventory-report-8-21-10/feed/ 0 Weekly Scorecard 8-17-10 http://eastbellevuere.com/index.php/2010/08/20/weekly-scorecard-8-17-10/ http://eastbellevuere.com/index.php/2010/08/20/weekly-scorecard-8-17-10/#comments Fri, 20 Aug 2010 21:04:18 +0000 George Thurtle http://eastbellevuere.com/?p=746 It appears inventories are peaking and we are seeing closed sales come more in line with in MLS Area 530 (East Bellevue). The other two areas that still have a big spread between closed sales and pending sales. the disturbing faactor is that while inventories have peaked, if you look at pending sales they are by half. The result is that either inventories will need to be reduced or you may see another round of price cuts. Nothing like the spring of 2009 but if the inventories remain where they are and sales do not pick up then this fall and winter could see a slow sagging market.

The spreadsheet is here: Weekly scorecard 8-17-10

]]> http://eastbellevuere.com/index.php/2010/08/20/weekly-scorecard-8-17-10/feed/ 0 Distressed Inventory Report 8-12-10 http://eastbellevuere.com/index.php/2010/08/14/distressed-inventory-report-8-12-10/ http://eastbellevuere.com/index.php/2010/08/14/distressed-inventory-report-8-12-10/#comments Sat, 14 Aug 2010 16:03:58 +0000 George Thurtle http://eastbellevuere.com/?p=742 The news this week is that distressed inventory appears to be peaking or else the lenders are on vacation and not processing the new defaults. We will know more by the end of September when they return from vacation. This is not a joke as the case loads are so high that work cycles are as important as market cycles.  However looking at the big picture unemployment has stabilized so theoretically at some point in time the foreclosure cycle needs to stabilize but as has been discussed earlier there are two factors. The first is how long some owners can keep going on their reserves and what happens with the new wave of ARM resets that appear to be coming in 2011. Usually we have a quicker upturn and those folks living on reserves manage to hang on long enough so that as the economy comes out of the recession they begin earning enough again to cover their expenses. This may be the self employed or small business owners who are particularly sensitive to market cycles and also have had the added burden of their banks not providing interim funding and are forced to drain reserves to pay down debt. The other class is the unemployed who mange to find new jobs as the economy cycles back up. With an effective 1% growth rate the market is not helping these people out and they are slowly draining what resources they have.

Like a nuclear blast you can say the lucky ones were the ones who were incinerated in the initial blast. These would have been the sub prime borrowers who have been foreclosed in 2007 and 2008 and have written off their debt and are renting and building their resources. The unlucky ones are those who lived and are slowly dying from radiation poisoning and are struggling to hang on and hope they can last long enough until the effects of the blast are behind them.  

Part of the good news regarding the dissipating the effects of the blast are that in the spreadsheet you will see the Notice of Trustee Sales is falling. The reason are potentially two fold. The first is that the house goes to foreclosure and is now a bank owned home. The other is that it has been sold in a short sale. Keep and eye for an increase of the bank owned homes as this will be an indicator if the market is absorbing the NTS homes through either a short sale or foreclosure.

The spreadsheet is here: Bellevue Foreclosure Report 8-14-10

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