Check out the history on this one. Below 2005 price!!! and so close to microsoft.
Dec 02, 2008 Price Changed $800,000 -- NWMLS #28166661
Oct 31, 2008 Price Changed $820,000 -- NWMLS #28166661
Oct 02, 2008 Listed $845,000 -- NWMLS #28166661
Oct 02, 2008 Off Redfin * -- Inactive NWMLS #3
Sep 03, 2008 Listed * -- Inactive NWMLS #3 Aug 06, 2008 Sold $855,000 -23.0%/yr Public Records
Jun 18, 2007 Sold $1,150,000 23.6%/yr Public Records
May 29, 2007 Listed * -- Inactive NWMLS #2
Aug 29, 2006 Sold $969,950 -24.9%/yr Public Records
Jun 13, 2006 Price Changed * -- Inactive NWMLS #1
Sep 16, 2005 Price Changed * -- Inactive NWMLS #1
Aug 30, 2005 Listed * -- Inactive NWMLS #1 May 17, 2005 Sold $1,400,000 126.9%/yr Public Records
Dec 01, 2008 Price Changed $714,000 -- NWMLS #28176328
Sep 10, 2008 Sold $795,800 3.2%/yr Public Records
Dec 31, 2002 Sold $665,000 20.7%/yr Public Records
Dec 04, 2008 Listed $422,000 -- NWMLS #28192751 Mar 14, 2007 Sold $580,000 14.7%/yr Public Records
Jul 17, 2001 Sold $267,000 7.6%/yr Public Records
Jun 30, 1989 Sold $110,000 -- Public Records
Dec 09, 2008 Listed $412,250 -- NWMLS #28194206
May 27, 2008 Sold $427,407 -11.3%/yr Public Records
Jan 17, 2007 Sold $503,000 22.8%/yr Public Records
Dec 04, 2003 Sold $265,000 6.7%/yr Public Records
Apr 20, 1988 Sold $96,500 -- Public Records
Really? Someone bought that for over a million dollars? That is a piece of crap for a million dollars. If I could afford a million dollar house, I would buy a house that looks like it is worth a million dollars. Did people just have an extreme lack of perspective or what?
Dec 10, 2008 Listed $370,405 -- NWMLS #28195022
Jul 28, 2008 Sold $551,555 -9.9%/yr Public Records
Apr 19, 2007 Sold $630,000 8.1%/yr Public Records
Jul 26, 2006 Sold $595,000 29.6%/yr Public Records
May 28, 2004 Sold $340,000 11.6%/yr Public Records
Aug 25, 2000 Sold $225,000 -- Public Records
Not just a flop but a liar listing too... check out one of the images on this one
the place realy looks like this...
Dec 12, 2008 Price Changed $789,000 -- NWMLS #28180875
Nov 05, 2008 Listed $850,000 -- NWMLS #28180875
Aug 21, 2007 Sold $1,156,000 23.1%/yr Public Records
Dec 17, 2008 Listed $749,936 -- NWMLS #28195789
Oct 06, 2005 Sold $769,000 6.1%/yr Public Records
Dec 29, 1997 Sold $485,000 4.8%/yr Public Records
Mar 03, 1994 Sold $405,500 5.2%/yr Public Records
Feb 05, 1992 Sold $365,000 -19.2%/yr Public Records
Jul 31, 1991 Sold $407,545 25.0%/yr Public Records
Sep 14, 1989 Sold $268,000 -- Public Records
I think that exchange of price in 2006 is probably due to warranty deed in relation to the construction loan used to build the house. After it was built, the house was then quickly sold to a new owner at 3.9 million. These engines don't interpret some of the data well.
I posted this over on the main page as well - but easier to search here.
Still on the market, now listed for $2.5mm after 195 days.
This is really snotty to say, but there was a trend for a while that put Bellevue, Redmond, and Kirkland properties at Seattle prices. There was and still is a massive run up in pricing in the Bellevue area that stretched to Issaquah and North Bend. The problem is that there is unlimited amounts of cheap dirt to build on and a very sketchy employment base east of Lake Washington.
There was in my opinion a mistaken belief that the Bellevue down town core would some how transform into an Urban Center. There the problem was that the economic driving force in the area was old money with properties on Lake Washington, in Medina, or Hunts Point. People of wealth like exclusion so they can be exclusively in control of the neighborhood.
Microsoft millionaires changed the dynamic for about ten years but Microsoft isn't churning out wealth like they used to. Those young hipster millionaires are also turning out to be pretty stand offish. So to me it looks like Bellevue is going back to being a neighborhood for the very wealthy of the Eastside and no others need apply.
That leaves a lot of properties with sagging values and no buyers.
http://www.redfin.com/WA/Bellevue/2767- ... ome/509177
Dec 16, 2008 Price Changed $499,000 -- NWMLS #28185687
Nov 14, 2008 Listed $539,000 -- NWMLS #28185687
Apr 13, 2006 Sold $545,000 8.1%/yr Public Records
Jul 23, 1999 Sold $323,000 12.2%/yr Public Records
Jan 26, 1996 Sold $216,240 -- Public Records
Loving it...this one actually looks fabulous. It's awesome to know those types of properties can now be had in Redmond for under $600k. Keep them coming eastsider!
Jan 02, 2009 Price Changed $785,000 -- NWMLS #28166661
Dec 02, 2008 Price Changed $800,000 -- NWMLS #28166661
Oct 31, 2008 Price Changed $820,000 -- NWMLS #28166661
Oct 02, 2008 Listed $845,000 -- NWMLS #28166661
Aug 06, 2008 Sold $855,000 -23.0%/yr Public Records
Jun 18, 2007 Sold $1,150,000 23.6%/yr Public Records
Aug 29, 2006 Sold $969,950 -24.9%/yr Public Records
May 17, 2005 Sold $1,400,000 126.9%/yr Public Records
Jul 12, 2004 Sold $700,000 -- Public Records
Jan 02, 2009 Price Changed $785,000 -- NWMLS #28166661
Dec 02, 2008 Price Changed $800,000 -- NWMLS #28166661
Oct 31, 2008 Price Changed $820,000 -- NWMLS #28166661
Oct 02, 2008 Listed $845,000 -- NWMLS #28166661
Aug 06, 2008 Sold $855,000 -23.0%/yr Public Records
Jun 18, 2007 Sold $1,150,000 23.6%/yr Public Records
Aug 29, 2006 Sold $969,950 -24.9%/yr Public Records
May 17, 2005 Sold $1,400,000 126.9%/yr Public Records
Jul 12, 2004 Sold $700,000 -- Public Records
I have to add some comments about this house since I have been following this 4-lot subdivision for years since it is just down the street from my house. You have to be careful when you look at the sales history. The 2004 sale was for the entire property that has been subdivided into four lots (upon one of which the house above sits)--at the time it was sold, it had an unoccupied 1960s rental house on the site. The 2005 sale was also for the same, so that was the best flip you could imagine (no $ into the property at all from 2004-2005 as far as I know). The 2006 sale was for the actual house pictured when it was brand new. The 2007 sale was bogus, from what I can tell (look at the records carefully, something fishy going on--first owner sold it so somebody else who then quit-claimed it back from what I recall), and I suspect they used a shady appraisal to get the value this high and then borrowed all of the increased equity out of the property.
I strongly suspect mortgage fraud, as both of the neighboring houses both went through the exact same thing, and one has already gone through the foreclosure process (details listed in another thread here somewhere). The owner who sold this house for $1.1M in 2007 immediately bought the neighboring house from the same developer, for $1.1M, and it is a slightly bigger house (think it has one extra bedroom). I predict that this neighboring house will be next on the market or go through foreclosure, within the next year.
Regardless, all four houses in this cul-de-sac are potential flops, with only one of them occupied by a planned long-term owner. As I suspected, the values aren't the $1M they originally sold for in 2006, nor the $1.1M they appraised for in 2007, but more closer to the $750-800K range that they seem to be selling for now. I imagine that the banking industry as a whole will probably take a $900K bath (approx. $300K loss per house x 3 flops/foreclosures), just on this one tiny cul-de-sac, right smack in the middle of Microsoft Millionaire land. This can't really be happening, right? Some RE professional said that this could never happen, I just don't get it. :roll:
Comments
Check out the history on this one. Below 2005 price!!! and so close to microsoft.
Dec 02, 2008 Price Changed $800,000 -- NWMLS #28166661
Oct 31, 2008 Price Changed $820,000 -- NWMLS #28166661
Oct 02, 2008 Listed $845,000 -- NWMLS #28166661
Oct 02, 2008 Off Redfin * -- Inactive NWMLS #3
Sep 03, 2008 Listed * -- Inactive NWMLS #3
Aug 06, 2008 Sold $855,000 -23.0%/yr Public Records
Jun 18, 2007 Sold $1,150,000 23.6%/yr Public Records
May 29, 2007 Listed * -- Inactive NWMLS #2
Aug 29, 2006 Sold $969,950 -24.9%/yr Public Records
Jun 13, 2006 Price Changed * -- Inactive NWMLS #1
Sep 16, 2005 Price Changed * -- Inactive NWMLS #1
Aug 30, 2005 Listed * -- Inactive NWMLS #1
May 17, 2005 Sold $1,400,000 126.9%/yr Public Records
Very likely will fall to its 2002 price!!!
Dec 01, 2008 Price Changed $714,000 -- NWMLS #28176328
Sep 10, 2008 Sold $795,800 3.2%/yr Public Records
Dec 31, 2002 Sold $665,000 20.7%/yr Public Records
Check out the view on ths one. Still on market after 17 months and 17 price reductions.
Nov 30, 2008 Price Changed $1,795,000 -- NWMLS #28128854
Nov 08, 2008 Price Changed $1,820,000 -- NWMLS #28128854
Oct 16, 2008 Price Changed $1,845,000 -- NWMLS #28128854
Oct 04, 2008 Price Changed $1,870,000 -- NWMLS #28128854
Aug 25, 2008 Price Changed $1,895,000 -- NWMLS #28128854
Jul 25, 2008 Listed $1,995,000 -- NWMLS #28128854
Feb 03, 2006 Sold $1,995,000 159.5%/yr Public Records
Dec 04, 2008 Listed $422,000 -- NWMLS #28192751
Mar 14, 2007 Sold $580,000 14.7%/yr Public Records
Jul 17, 2001 Sold $267,000 7.6%/yr Public Records
Jun 30, 1989 Sold $110,000 -- Public Records
Dec 09, 2008 Listed $412,250 -- NWMLS #28194206
May 27, 2008 Sold $427,407 -11.3%/yr Public Records
Jan 17, 2007 Sold $503,000 22.8%/yr Public Records
Dec 04, 2003 Sold $265,000 6.7%/yr Public Records
Apr 20, 1988 Sold $96,500 -- Public Records
http://www.redfin.com/WA/Bellevue/10018 ... ome/506355
Dec 09, 2008 Listed $700,000 -- NWMLS #28194346
Sep 26, 2007 Sold $1,400,000 132.2%/yr Public Records
Jan 29, 2007 Sold $805,000 9.4%/yr Public Records
May 31, 1984 Sold $104,000 -- Public Records
I especially like the Redfin page for this listing...
From the Listing Notes:
and then scroll down and check out the Property Tax info:
LOL
Maybe I should just offer $510K then?? (...or not)
Records search reveals not so surprising data.
Dec 10, 2008 Listed $370,405 -- NWMLS #28195022
Jul 28, 2008 Sold $551,555 -9.9%/yr Public Records
Apr 19, 2007 Sold $630,000 8.1%/yr Public Records
Jul 26, 2006 Sold $595,000 29.6%/yr Public Records
May 28, 2004 Sold $340,000 11.6%/yr Public Records
Aug 25, 2000 Sold $225,000 -- Public Records
Not just a flop but a liar listing too... check out one of the images on this one
the place realy looks like this...
Dec 12, 2008 Price Changed $789,000 -- NWMLS #28180875
Nov 05, 2008 Listed $850,000 -- NWMLS #28180875
Aug 21, 2007 Sold $1,156,000 23.1%/yr Public Records
Dec 17, 2008 Listed $749,936 -- NWMLS #28195789
Oct 06, 2005 Sold $769,000 6.1%/yr Public Records
Dec 29, 1997 Sold $485,000 4.8%/yr Public Records
Mar 03, 1994 Sold $405,500 5.2%/yr Public Records
Feb 05, 1992 Sold $365,000 -19.2%/yr Public Records
Jul 31, 1991 Sold $407,545 25.0%/yr Public Records
Sep 14, 1989 Sold $268,000 -- Public Records
I posted this over on the main page as well - but easier to search here.
Still on the market, now listed for $2.5mm after 195 days.
Zillow still has the value at $3.7mm
There was in my opinion a mistaken belief that the Bellevue down town core would some how transform into an Urban Center. There the problem was that the economic driving force in the area was old money with properties on Lake Washington, in Medina, or Hunts Point. People of wealth like exclusion so they can be exclusively in control of the neighborhood.
Microsoft millionaires changed the dynamic for about ten years but Microsoft isn't churning out wealth like they used to. Those young hipster millionaires are also turning out to be pretty stand offish. So to me it looks like Bellevue is going back to being a neighborhood for the very wealthy of the Eastside and no others need apply.
That leaves a lot of properties with sagging values and no buyers.
Dec 16, 2008 Price Changed $499,000 -- NWMLS #28185687
Nov 14, 2008 Listed $539,000 -- NWMLS #28185687
Apr 13, 2006 Sold $545,000 8.1%/yr Public Records
Jul 23, 1999 Sold $323,000 12.2%/yr Public Records
Jan 26, 1996 Sold $216,240 -- Public Records
http://www.redfin.com/WA/Redmond/7533-2 ... e/12299711
Nov 25, 2008 Price Changed $1,698,000 -- NWMLS #27203955
Nov 27, 2007 Listed $2,698,000 -- NWMLS #27203955
Oct 03, 2006 Sold $279,150 -- Public Records
Love it. Agent's comments: Really? is that like, in the next 12-18 months?
(No Picture)
Dec 22, 2008 Listed $599,999 -- NWMLS #28197855
Aug 09, 2007 Sold $725,000 7.4%/yr Public Records
May 27, 1987 Sold $172,500 -- Public Records
Dec 29, 2008 Listed $584,900 -- NWMLS #28198562
Jan 04, 2008 Sold $717,192 -21.8%/yr Public Records
Feb 26, 2007 Sold $885,000 20.3%/yr Public Records
http://www.redfin.com/WA/Fall-City/33605-SE-44th-Pl-98024/home/465476
Dec 30, 2008 Price Changed $239,000 -- NWMLS #28040156
Dec 05, 2008 Relisted -- -- NWMLS #28040156
Oct 27, 2008 Off Redfin -- -- NWMLS #28040156
Sep 19, 2008 Price Changed $245,500 -- NWMLS #28040156
Jul 02, 2008 Price Changed $274,000 -- NWMLS #28040156
Jun 25, 2008 Relisted -- -- NWMLS #28040156
Jun 14, 2008 Off Redfin -- -- NWMLS #28040156
Mar 07, 2008 Listed $283,500 -- NWMLS #28040156
Jan 30, 2008 Sold $307,441 10.5%/yr Public Records
Aug 03, 2005 Sold $240,000 -- Public Records
http://www.redfin.com/WA/Fall-City/2301-279th-Dr-SE-98024/home/2079779
Dec 30, 2008 Price Changed $958,900 -- NWMLS #28152570
Dec 10, 2008 Price Changed $973,900 -- NWMLS #28152570
Nov 24, 2008 Price Changed $1,035,900 -- NWMLS #28152570
Nov 03, 2008 Price Changed $1,051,900 -- NWMLS #28152570
Oct 25, 2008 Listed $1,067,900 -- Bank-Listed Foreclosures #2892637
Oct 14, 2008 Price Changed $1,067,900 -- NWMLS #28152570
Sep 25, 2008 Price Changed $1,083,900 -- NWMLS #28152570
Sep 05, 2008 Listed $1,117,900 -- NWMLS #28152570
Sep 08, 2005 Sold $1,199,950 -- Public Records
So close to 405!
http://www.redfin.com/WA/Bellevue/3842-113-Ave-NE-98004/home/459514
Dec 29, 2008 Price Changed $495,000 -- NWMLS #28099485
Dec 16, 2008 Relisted -- -- NWMLS #28099485
Nov 20, 2008 Off Redfin -- -- NWMLS #28099485
Nov 06, 2008 Relisted -- -- NWMLS #28099485
Nov 06, 2008 Off Redfin -- -- NWMLS #28099485
Nov 05, 2008 Price Changed $525,000 -- NWMLS #28099485
Oct 09, 2008 Price Changed $579,999 -- NWMLS #28099485
Oct 08, 2008 Relisted -- -- NWMLS #28099485
Oct 06, 2008 Off Redfin -- -- NWMLS #28099485
Sep 09, 2008 Relisted -- -- NWMLS #28099485
Sep 06, 2008 Off Redfin -- -- NWMLS #28099485
Sep 04, 2008 Price Changed $629,999 -- NWMLS #28099485
Aug 04, 2008 Price Changed $699,999 -- NWMLS #28099485
Jun 07, 2008 Listed $769,900 -- NWMLS #28099485
May 08, 2008 Sold $739,500 2.9%/yr Public Records
May 19, 2005 Sold $680,000 22.7%/yr Public Records
Sep 08, 2004 Sold $590,000 39.2%/yr Public Records
Feb 10, 2004 Sold $487,500 7.2%/yr Public Records
Dec 31, 2008 Price Changed $1,485,000 -- NWMLS #28143734
Dec 23, 2008 Price Changed $1,512,500 -- NWMLS #28143734
Dec 04, 2008 Relisted -- -- NWMLS #28143734
Dec 03, 2008 Off Redfin -- -- NWMLS #28143734
Oct 10, 2008 Price Changed $1,575,000 -- NWMLS #28143734
Sep 05, 2008 Price Changed $1,695,000 -- NWMLS #28143734
Aug 27, 2008 Listed $1,849,000 -- NWMLS #28143734
Aug 01, 2007 Sold $1,700,000 11.5%/yr Public Records
Aug 24, 2001 Sold $890,000 86.9%/yr Public Records
200K below 2006
http://www.redfin.com/WA/Redmond/11866-175th-Pl-NE-98052/home/2061840
Dec 30, 2008 Price Changed $700,000 -- NWMLS #28151102
Oct 31, 2008 Price Changed $760,000 -- NWMLS #28151102
Oct 06, 2008 Price Changed $799,000 -- NWMLS #28151102
Oct 02, 2008 Price Changed $839,990 -- NWMLS #28151102
Oct 01, 2008 Relisted -- -- NWMLS #28151102
Oct 01, 2008 Off Redfin -- -- NWMLS #28151102
Sep 17, 2008 Price Changed $865,000 -- NWMLS #28151102
Sep 04, 2008 Listed $875,000 -- NWMLS #28151102
Mar 03, 2006 Sold $899,950 -- Public Records
http://www.redfin.com/WA/Redmond/7349-149th-Ave-NE-98052/home/516535
Jan 02, 2009 Price Changed $785,000 -- NWMLS #28166661
Dec 02, 2008 Price Changed $800,000 -- NWMLS #28166661
Oct 31, 2008 Price Changed $820,000 -- NWMLS #28166661
Oct 02, 2008 Listed $845,000 -- NWMLS #28166661
Aug 06, 2008 Sold $855,000 -23.0%/yr Public Records
Jun 18, 2007 Sold $1,150,000 23.6%/yr Public Records
Aug 29, 2006 Sold $969,950 -24.9%/yr Public Records
May 17, 2005 Sold $1,400,000 126.9%/yr Public Records
Jul 12, 2004 Sold $700,000 -- Public Records
Wow! This home is seeing some significant drops.
I have to add some comments about this house since I have been following this 4-lot subdivision for years since it is just down the street from my house. You have to be careful when you look at the sales history. The 2004 sale was for the entire property that has been subdivided into four lots (upon one of which the house above sits)--at the time it was sold, it had an unoccupied 1960s rental house on the site. The 2005 sale was also for the same, so that was the best flip you could imagine (no $ into the property at all from 2004-2005 as far as I know). The 2006 sale was for the actual house pictured when it was brand new. The 2007 sale was bogus, from what I can tell (look at the records carefully, something fishy going on--first owner sold it so somebody else who then quit-claimed it back from what I recall), and I suspect they used a shady appraisal to get the value this high and then borrowed all of the increased equity out of the property.
I strongly suspect mortgage fraud, as both of the neighboring houses both went through the exact same thing, and one has already gone through the foreclosure process (details listed in another thread here somewhere). The owner who sold this house for $1.1M in 2007 immediately bought the neighboring house from the same developer, for $1.1M, and it is a slightly bigger house (think it has one extra bedroom). I predict that this neighboring house will be next on the market or go through foreclosure, within the next year.
Regardless, all four houses in this cul-de-sac are potential flops, with only one of them occupied by a planned long-term owner. As I suspected, the values aren't the $1M they originally sold for in 2006, nor the $1.1M they appraised for in 2007, but more closer to the $750-800K range that they seem to be selling for now. I imagine that the banking industry as a whole will probably take a $900K bath (approx. $300K loss per house x 3 flops/foreclosures), just on this one tiny cul-de-sac, right smack in the middle of Microsoft Millionaire land. This can't really be happening, right? Some RE professional said that this could never happen, I just don't get it. :roll:
Now listed at $370K