Top 10 Luxury Listings Sold by Team Groesbeck in 2016

As we look back on the success that the Jean Groesbeck & Assoc. team saw in 2016, here are the top 10 luxury listings in Anacortes and surrounding areas that we proudly sold throughout the year:

Cutter Drive, Anacortes – $1,500,000

4416-exterior-drive

4416-l2-deck-corner

Luxuriously customized and upgraded, this stunning Anacortes home features unobstructed views of the Guemes Channel, Cypress Island and ferry boats that can be seen from the wrap around deck, which houses a double-sided fireplace. The home also features an open floor plan with lovely interior and exterior finishes, such as a gated covered porch and flagstone walkway.

Samish Island Road, Bow – $1,500,000

Set on more than a 1/2 acre of waterfront property with private beach access, this home was built in 2003 using the finest natural materials.  Set on Padilla Bay, sunsets can be seen from the home year round, as well as Samish Bay sunrises and views of Mt. Ranier and Mt. Baker.

G Loop Road, Bow – $1,425,000

Boasting more than 5,000 square-feet, this waterfront home with beach access features a swimming pool, hot tub, media room, private elevator and a living room with 30-foot ceilings.

Peregrine Lane, Mount Vernon – $1,475,000

Stunning views from each extra large bedroom, hardwood floors, oak cabinets and a private lot with an entrance gate shared with one neighbor are some of the great features of this home.

S. Del Mar Drive, Anacortes – $1,100,000

This west-facing home in Anacortes overlooks the surrounding islands and can accommodate large gatherings from its spacious deck with its outdoor kitchen, fire pit and beautiful gardens.

Samish Island Road, Bow – $970,000

mcmanus photo, kevin j mcmanus, architectural photography, real estate photography in mount vernon wa, hdr photos, high dynamic range photography, hdr photography,

Set on Samish Island, this gorgeous waterfront estate features views from every room, a chemical-free swimming pool and spacious sundeck.

Surfcrest Drive, Oak Harbor – $899,000

 

Located in the gated community of Surfcrest, this custom home is waterfront and boasts a viewing deck of the master suite in addition to a home library.

Washington Court, Anacortes – $880,000

ofiice

Featured in Home Accent Magazine, 180 degree views of the Olympic Mountains, Rosario Strait and shipping channel are some of the excellent components of this sophisticated home located near Washington Park.

Harbor View Place, Anacortes – $867,000

harborviewpl4810_0034-hdr

Harbor View Place features a gorgeous curved stairway, green house, hot tub cabana, three car garage and stunning 180 degree views of the San Juan Islands and Guemes Channel.

Bay Place, Anacortes – $825,000

40

With enough room on the double-sided dock to park a yacht, Bay Place features two luxurious master suites, a beautiful marina view, two car garage and a bay for a 40-foot motor home or boat, with additional exterior RV parking.

Team Groesbeck had a very productive year and we want to THANK all of our clients for helping make our success possible in 2016. Your partnership and friendship is really appreciated, and we are most grateful for your trust in our team to make your real estate goals a reality.

If you are thinking of selling your home in Anacortes or anywhere in Skagit, Island or San Juan Counties in 2017, please call us for a COMPLIMENTARY market analysis of your home and find out how much your home is worth!

For all of your real estate needs, contact Jean Groesbeck & Assoc. LLC at Jean@JeanGroesbeck.com and at (360) 941-3734.  Based in Anacortes, we proudly serve the greater Anacortes area, including Skagit, Island and San Juan counties.  We look forward to working for you!

Housing market “warming” as brokers report multiple offers in some areas

Here is an excerpt from the latest press release from the NWMLS

KIRKLAND, Wash. (May 5, 2011) – Home sellers around Washington state are starting to a see something that had all but vanished in recent months: multiple offers.

Several directors of Northwest Multiple Listing Service noted they are encountering more bidding wars in certain neighborhoods and price ranges, even though the latest figures show fewer sales and lower prices than a year ago. Shrinking inventory is spurring activity, with some brokers reporting a “shortage of good listings” and “signs of normality.”

Northwest MLS members reported 7,154 pending sales during April, a 24 percent drop from a year ago when buyers were scrambling to take advantage of a federal tax credit that expired April 30, 2010.

Going back two years, pending sales rose by a modest 3.4 percent; when compared to the same month in 2008, last month?s pending sales (mutually accepted offers) jumped 15.2 percent.

Here are some comments from brokers is King County:
“With healthy sales activity over the last several months, a shortage of homes coming on the market and low foreclosure activity, the stage has been set for a multiple offer market.”

A managing broker at a real estate office ing South King County reported several multiple offers on homes priced under $350,000.

“We believe the bottom of the market is here in the under $350,000 price range.”
Other Northwest MLS directors in King County, along with representatives from Whatcom and Kitsap counties, also commented on the uptick in multiple offers.

“Because of the lack of inventory in many areas we have seen a large increase in multiple offers on homes that are properly priced.”

“There is a severe shortage of good listings in the close-in Seattle neighborhoods that is causing many multiple offers and the first signs of price increases on homes under $500,000 and also on desirable higher priced homes.”

Brokers and sellers in Kitsap County are beginning to see multiple offer situations, especially for homes priced $200,000 to $350,000

++++++++++++++++++++++++++++++++++++++++++++

The new report from Northwest Multiple Listing Service shows members in the 21 counties it serves added 10,083 new listings during April, down 20 percent from the same month a year ago. Through the first four months of 2011, nearly 11,000 fewer new listings have been added to inventory when compared to the cumulative total for the same period a year ago (34,855 versus 45,590), a drop of 23.5 percent.

Total inventory is down nearly 13 percent from a year ago. At month end, the multiple listing service inventory encompassed 34,862 active listings, including the new additions during April. A year ago, brokers represented 39,999 active listings of single family homes and condominiums (combined).

“We just had three offers on two new listings, one in North Seattle at $320,000, and the other in Ballard at $429 000,” said MLS director Mike Skahen of Lake & Co. He cited a local blogger who reported a meager 1.1 month supply of homes in the Green Lake/Ravenna area, the lowest in four years.

Brokers and sellers are beginning to see multiple offer situations, and tools that have not been used in a while, such as escalation clauses, are returning.

Fewer buyers are making low-ball offers and sellers are being more proactive about pricing their homes to be competitive in today?s environment. “Both buyers and sellers are beginning to get the message of today?s market, which is „be realistic?.”
Brokers reported 4,581 closed sales during the month, of which 3,994 were single family homes. That?s a drop of about 12.6 percent from the year-ago figure of 5,243 closings.
The median price on the 4,581 completed sales for April was $237,000, a decline of 9.2 percent from the year-ago median price of $261,000. In King County, prices are down about 4.6 percent, from $340,000 to $324,500. The dips reflect a significant number of foreclosed homes and short sales that are in the mix.
Northwest Multiple Listing Service, owned by its member real estate firms, is the largest full-service MLS in the Northwest. Its membership includes more than 22,000 real estate brokers. The organization, based in Kirkland, Wash., currently serves 21 counties in Washington state.

Economic Impact of an Existing Home Purchase

How important is real estate to economy of Anacortes and all of Skagit County?

Home sales are vital to our local economy!

The National Association of Realtors® estimates that each home sale at the median price generates $30,792 of economic impact before the historical relationship between new and existing sales is considered and $58,529 of economic impact when that relationship is taken into account (2010).

Impact of Single Existing Home Purchase

Median Price $173,000

Real Estate Industries Related Industries(Furniture) Multiplier Subtotal
$15,570 + $5,235 + $9,987 = $30, 792

 

Subtotal New Housing
Construction
Inducement
Total
$30, 792 + $27,738 = $58, 529

 

Real Estate Industries

We assume that commissions, fees, and moving expenses, or income to real estate industries, associated directly with the purchase are about 9 percent of the median home price1.

Furniture

Furniture and remodeling expenses are a little more than $5,000 based on a Harvard Joint Center for Housing Studies figure.2

Multiplier Effect

The multiplier effect accounts for the fact that income earned in other sectors of the economy as a result of a home sale is then re?circulated into the economy. The National Association of Realtors®’s macroeconomic modeling suggests that the multiplier is between 1.34 and 1.62 in the first year or two after an autonomous increase in spending. This means that each dollar increase in direct housing activity will increase the overall GDP by $1.34 to $1.62.

New Housing

Because existing home sales have historically been associated with new construction at a ratio of eight to one, we add in one?eighth of the new home price3 to approximate the value of this construction being added to GDP. The existing home price is not directly added to the economy because the home was produced or constructed in the past. Only the value?added service related to the sale of an existing home is included. When a new home is constructed, the entire price is added to the value of GDP because it is new production.

1 An annual price is used to avoid seasonal fluctuation in home prices. 2010 Median Home Price is $173,000.
2 Improving America’s Housing 2003. Measuring the Benefits of Home Remodeling. Harvard Joint Center for Housing Studies Report: R03?1
3 2010 Median New Home Price is $221,900 per the Census
Reprinted with permission National Association of REALTORS

Search homes for sale in Anacortes, Guemes Island, Samish Island, Oak Harbor or anywhere in Western Washington at CBIslandLiving.com or call our office at 360-293-4511.  We are open 7 days a week to help your with your property search.

Anacortes Homes for Sale: VALUE OF THE WEEK

13614  Orca Lane,     Anacortes WA     98221 

Anacortes Real Estate Value of the Week

Anacortes Real Estate Value of the Week

Enjoy stunning sunsets with water and island views from this well maintained home conveniently located 10 minutes to  downtown Anacortes and 15 minutes to downtown Oak Harbor or Whidbey NAS.  You will enjoy entertaining on the spacious deck or the large level back yard.  Main level living, 2800 +/- sf on approx. 1/3 acre.  WOW!  This is part of Del Mar which has community beaches, fresh water swimming pond, and seasonal moorage opportunity.  This home is a fantastic value at only $349,900!

Time is running out on the tax credit!

We have been requested to repost this on the Home Buyer Tax Credit.  You have until April 30th, 2010 to get the new home under contract!
Here are some of the most frequently asked questions on the changes to the Homebuyer Tax Credit

Question: Existing homeowner credit: Must the new house cost more than the old house?
Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who
meet all eligibility requirements will qualify for the $6500 credit.
Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a
new home. I have lived in my current home for more than 5 consecutive years and

am within the new income limits. I will go to settlement on November 20. If

President Obama has signed the bill by the time I go to settlement, will I qualify for

the new $6500 tax credit?

Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment
(when the bill is signed). There is no reference to the date of contract for the new credit. The

provision looks solely to the date of purchase, which is generally the date of settlement.

Question: I am a firsttime
homebuyer but was not within the prior income limits at the time I

entered into my contract to purchase on October 30, 2009. I will be covered,

however, by the new income limits. If the new rules have been signed into law by the

time I go to settlement, will I be eligible for a credit?

Answer: Yes. The new income limitations go into effect as soon as the President has signed the bill.
The income limit and other eligibility rules will look to your status as of the date of purchase,

which is the settlement date. So if the new rules have been signed when you go to settlement,

you should be eligible for the credit (or a portion of the credit if you’re within the phaseout

range).

Question: I am an eligible existing homeowner. I have a fair amount of equity in my home. I
have found a home with a nonnegotiable

price of $825,000. Will I be able to use any

of the $6500 tax credit?

Answer: No. The $800,000 cap on the cost of the purchased home is firm at $800,000. Any amount
above $800,000 makes the home ineligible for any portion of the credit. The $800,000 is an

absolute ceiling.

Question: I owned my home for 10 years, but sold it two years ago year and have been renting
since. If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the

other eligibility tests?

Answer: Yes. Because you lived in the home for more than 5 consecutive years of the previous 8, you
will qualify for the $6500 credit. For example, Say John and his wife bought a home in 2000

and lived there until 2008 when he got a divorce. Whether John has been renting or bought in

the interim, he WOULD INDEED be eligible for the credit because he owned a home and

occupied it as his principal residence for 5 consecutive years out of the last 8 years. The

keyword here is “consecutive.” As long as he lived in that house for 5 years straight what he

did since 3 years doesn’t impact eligibility.

Question: I am an eligible firsttime
homebuyer. I entered into a contract to purchase on

November 1, 2009. Do I have to go to closing before December 1? How does the

extension date affect me?

Answer: You do not have to close before December 1. Once the legislation has been signed, it will be as
if the Nov 30 date had never existed. Therefore, so long as the contract settles before April 30

(or July 1, worst case), the purchaser will be eligible for the credit.

For help with your home purchase any where in Oak Harbor on Whidbey Island or anywhere in Skagit County including Anacortes, La Conner, Mt. Vernon, Sedro Woolley, or Bow, please contact one of our Coldwell Banker Island Living real estate agents.  Our office is open 7 days!