Bellevue Undressed

Light Rail in Bellevue – Is It Off Track?

How do you feel about the light rail system being implemented in Bellevue?  There are many opinions and strong feeling on the matter, and Kemper Freeman has been voicing a strong opinion of experience for quite some time now.  Kemper is not a proponent of light rail, and feels that it is “Off Track”.  He has his own opinion for correcting our transit challenges.  “It’s as far off track as anything I’ve ever seen government propose,” Kemper says. “We’re being sold an impossible dream.”

Currently the light rail budget that Sound Transit initially proposed, is $1 billion over its initial Central Link construction budget.  Various options for the Bellevue Eastside extension are still on the table.  Most of the light rail systems operating nationally, are based on a much higher density level than we currently have in the Puget Sound area.  For more details on a plan that Kemper Freeman endorses click here.

Bellevue Going Green

Taking steps to protect our environment have always been important, but in recent years this issue has taken front stage, and is only going to be come more important as our population and density increases.  As a home builder, I have always been amazed at the quantity of debris that are left over from a construction job, and unfortunately find their way into a 40 yard dumpster, and on down the road to the landfill.  I have always taken measures to assure that the construction refuse has been kept to an absolute minimum, but even then have been unhappy as to the end results.  This has caused me to be more favorable towards future construction projects using kit homes and fabricated construction methods.

In Bellevue, a very prestigious award has been given for Commercial development in the downtown corridor.  Bellevue’s Hines Expedia Tower has received Gold-level certification for Leadership in Energy and Environmental Design (LEED) Core & Shell from the United States Green Building Council.  For more on the award click here.

Bellevue American Music – Excellent Customer Service!

If you are looking for a music store with excellent selection and customer service, then look no further than the Bellevue American Music store.  A few weeks back I needed some new guitar strings for my acoustic guitar.  I stopped in to the American Music store in Bellevue, and was directed to an experienced salesman, technician, and musician, by the name of Johnny Devol.  Johnny quickly enlightened me as to the different quality of guitar strings, recommended a brand that sounds fantastic on my guitar, and took the time to instruct me as to the correct procedure for stringing the guitar.

Since installing my new strings, I have been inclined to play more as the sounds quality is excellent.  Prior to my “educational short course” on different quality of strings, I was not aware that it made much difference.  I am pleased to have been enlightened, as now I am doing more of something I love to do…..play.  A big thanks to Johnny and Bellevue’s American Music.

American Music is located at 14340 NE. 20th St in Bellevue.

Bellevue Night Out – Sold Out!

If you were planning on attending the grand opening Neiman Markus Gala in downtown Bellevue tomorrow night, I am sorry to say that the $200 a ticket event is sold out.  Most of the proceeds will go to benefit local charities.  With this opening, Bellevue is once again trying to upscale Seattle in the fashion category.  The stores within the development will feature Chanel, Bottega Veneta, Akris, and the like, as well as fashion lines like Roberto Cavalli, Michael Kors, Marc by Marc Jacobs, 3.1 Phillip Lim, and Diane von Furstenberg.  To see a video of the last few days before the big opening click here.

Who Is the King of Bellevue?

For many years now Kemper Freeman has been spearheading the retail shopping commercial development arena in the downtown Bellevue Central Business District.  Now that the Bravern has opened, Mr Freeman for the first time in a very L O N G time, may have a little competition. 

Bravern Developer Schnitzer West has brought some serious competition to the forefront with their Grand Opening, and is seriously shaking up the high end retail marketplace.  The Bravern has a very strategic location adjacent to, and within eyesight of I-405, and has uniquely positioned Schnitzer West to offer a comprehensive retail tenant roster of approximately two dozen stores and restaurants, topped by office towers and luxury condominiums.

There are some serious questions as to how this high end retail will survive this current economy, but that is a question that can only be answered by the test of time.  For more click here.

June Home Sales Statistics for area 520

Residential

Current Active Inventory

179 homes currently on the market in area 520

average sq feet  3,469 ; average price   $1,631,996 

median sq feet  2,986 ; median Price   $1,125,000 

June Residential Pendings

22 homes went Pending in June

average sq feet  2,999  ; average price    $891,986 

median sq feet   2,595; median Price    $724,500 

June Residential Sold’s

19 homes sold in June in the 520 area

average sq feet   3,611   ; average list price    $1,446,618 average sales price  $1,342,842 DOM  101

median sq feet   3,477 ; median list Price    $1,195,000 median sales price  $1,145,000 

Condominiums

 222 condominiums currently on the market in area 520

average sq feet 1,467 ; median sq feet  1,318 

average price  $862,094 ; median Price  $638,500

** Area 520 is West of I-405.  Area 530 will be posted soon.

This Weeks Featured Home of the Week

Click on the picture to see a virtual tour.

For more information contact Susan Moore at 206.947.3694 or susan@mcmcondos.com

Crossroads Mall, Bellevue WA

The roads that cross are 156th and NE 8th. This is a cozy, neighborhood kind of mall. Not as posh and upscale as Bellevue Sq Mall, but that is one of its strengths.

One of the best magazine and news stands in the city, Half-Price books and a Starbucks. This is right next to an extensive and unique food court with choices galore, tables & chairs to hang loose, read and eat.

Crossroads Stage has live entertainment-just not right this minute!

A Mini City Hall

Crossroads values area youth

Crossroads has a QFC, a movie theater, restaurants, Michaels, Farmers Market and many other convenient shops and services. http://www.crossroadsbellevue.com/

Bellevue’s Downtown Park has released it’s Movie Line-up!

Bellevue Mid-Month Home Sale Statistics

Let’s take a quick look at home sale statistics for Bellevue. First, I’d like to show you some numbers from February:

A 13-Month Perspective

Click on the graph for a larger view

Click on the graph for a larger view

Click on the graph for a larger view

Bellevue has not been immune from the economic downturn in the national housing market. As you can see from the graphs above, since February 2008 there has been a steady downward trend in home sales and a rise in the days-on-market. The average price of a home in Bellevue has dropped as well. To put this in perspective, let’s look at what’s going on in the current month:

Mid-March Statistics

There is a relatively large inventory of homes on the market right now in Bellevue. The vast majority of properties are listed between $400,000 & $800,000 which is quite a spread; however, we have seen prices soften in the last several months which bodes well for buyers.

85 pending sales is a positive sign. Despite the difficulties facing buyers and sellers these days, homes are selling. One factor to keep in mind is that almost 25% of these pending sales are short sales (distressed properties). Recent history informs us that many of these sales don’t hold together.

There have been 10 closed sales since the beginning of March. It will be interesting to see how many more homes sell by the end of the month.

Posted by James Lupori: Author of www.kenmoreundressed.com

Statistics for the Utterly Confused courtesy of inju.