Success in Sammamish
3BD/2.5BA/3CG with 3,460 sqft livable on a 9,492 sqft lot
Congratulations to my Seller-Clients!
Sammamish is a good example of the May 2018 price-correction, which leveled-off in December-January, having the strongest adverse value impact to areas outside the urban cores of Seattle and Bellevue where there is higher demand. In some suburban (like this zip code) and urban areas, home values are about what they were a year ago.
This price correction's ripple affects have recently distorted many metrics. For example, typically the county's assessed value is below market value. However, in many of these suburban areas now, the tax assessed value is above market value, which could provide a home owner the opportunity to protest their property taxes.
This listing was a FIGHT to get top-dollar EVERY day....on the market 142 days (13 open houses) and initially listed at $1,175,000. We had our 1st price reduction just before listing in June 2018 after closely monitoring declining market activity, which we were trying to stay ahead of while not leaving money on the table.
We received a total of 3 verbal offers and 6 written offers--all were terrible, but all were worked. No matter how much effort you put into negotiations....ALWAYS be willing to walk away without hesitation--and mean it.
Real estate is a wise investment if you're willing to ride out the cycles over the long-term. If you're trying to time the market in the short-term...you'll probably never Buy or Sell. My Sellers are a perfect example of that. They purchased this property in 1998 for $443,990 and sold today for $1,025,000, which is +76% value increase ($581,010). This home has served their family well in many ways for many years.