Rainier Beach Remodel

3BD/2BA/2CP with 2,020 sqft built in 1950 on a 5,650 sqft lot

Congratulations to my Buyer-Clients!

This property was listed on October 25th for $699,950 with an Offer Due Date of October 30th. It was clearly under-priced below $750,000; recent comparable sales in the proximate area were in the $770,000 to $780,000 range. On October 30th, the Seller received seven (7) offers escalating no less than 7% above List Price.

My Clients wanted the home--badly. I explained the property was grossly underpriced and where the Purchase Price could escalate while supporting my statements with data and trends. "Tell us what to do. We trust you." They won the deal with the best terms including the best lender. There were no appraisal issues.

This home is located in the Rainier Beach neighborhood and was completely remodeled (interior/exterior) in 2019. The downstairs includes a second complete kitchen that could be rented separately. The solid expansive deck (outdoor living area) with views of Lake Washington includes an under deck drainage system, so the 2-car carport below is always dry and protected.

Real estate in the Seattle-Bellevue metro area is becoming a stronger Seller's market. There are many parallels to 2014 to 2015 only much stronger. There was approximately 9.52% appreciation in 2015. See my article regarding current market conditions and 2020 forecast here. It's a great time to Buy low!

🦃Have a very happy and warm Thanksgiving! This is my favorite holiday because it includes everyone. Safe travels!