Kirkland, Washington, is one of the most beautiful waterfront cities on Lake Washington, say local Realtors, but it's got a lot more to offer than just beauty.
"Kirkland is a coveted area for a multitude of reasons," says Realtor Michelle Grimm. "It has quiet, relaxed, unassuming neighborhoods where property values continue to soar. Stroll through the friendly community, picnic by the lake and enjoy the beautiful scenery. There is easy access to anywhere you need to go. Pop in downtown for a culinary adventure or a culture delight. Commute to work, 405 & 520 are just moments away. Kirkland is location, location, location!
About the market, Grimm suggests, "The housing market continues to remain strong. For buyers, interest rates remain low and for sellers, property values continue to rise. Inventory is still quite low, so if you're thinking of selling, now is a great time to list your property. Unexpectedly weak economic indicators helped mortgage rates to fall for the fourth straight week, according to Freddie Mac. Interest on 30-year loans slipped to 5.78 percent from 5.80 percent a week ago, while the 15-year rate tumbled to 5.33 percent from 5.36 percent. Meanwhile, the one-year adjustable mortgage rate slipped to 4.21 percent from 4.26 percent; and the five-year hybrid adjustable rate fell to 5.20 percent from 5.22 percent. Despite this week's dip, triggered by unfavorable reports on consumer confidence and durable goods orders, the 30-year mortgage rate is expected to gradually float up to 6.5 percent by year-end."
Says Realtor Sean Thatcher, "Kirkland home sales are very strong. Home prices are up nicely, and available homes are selling quickly. In April, 2005, the median sales price for houses in Kirkland was $391,250 with 91 sales, and the average time on market was 45 days. Compare this to April, 2004, where the median price was $350,000 with 115 sales, and an average market time of 51 days. Wow! That's a 12 percent median price increase with homes selling about a week faster compared to a year ago! Multiple offers are becoming commonplace again, and buyers are having difficulty finding available homes without the assistance of a persistent and truly dedicated agent on their side. Sellers may also not be getting what their home is fully worth without having an in-depth analysis done on the property and surrounding comparable sales."
"Booming with character and substance, Kirkland is fast becoming the jewel of the Eastside," says Realtor Lynn Kasel. "For years, Kirkland has lived in the shadow of its bigger brother Bellevue, but this is no longer the case. Kirkland, with its central Lake Washington location and fantastic amenities, has become a favored location for more affluent home buyers. Kirkland's "near in" location and welcoming boutique restaurants and shops are making it become a local tourist destination."
Kasel advises, "A very good home price range does exist in Kirkland also. Homes may be purchased form the mid- $200,000 price range to over $2,000,000. Something is available for most buyers in Kirkland and a home seller should be able to market their home for more than a comparable home in some of the surrounding cities. If the price is competitive, the supply of willing buyers is great and top dollar should be achieved in minimum time."
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Published: May 20, 2005
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