It is an honor to wrap up my 2019 listing season with one of my very favorite homes on the island.  I sold this home to my clients back in 2013 and it made my top 10 list that year.  This home was already special and charming before my clients bought it and sprinkled their style and talent for design all over it.  It did not take my clients long to find the best of the best contractors (Tom Whealdon Construction, Salisbury Woodworking, Chameleon Fine Home Painting, Seri Yekel Design) on the island and they did some amazing remodeling and renovations on this home over the past seven years and today it is truly EXCEPTIONAL!

It is certianly one to see in person.  Open Sunday, December 8th from 1-4pm or reach out for a private showing. 

Find out much more about this fine home at bainbridgeviewhome.com or at the Windermere site.

Offered at $1,448,000

10578 Sunrise Drive NE  on Bainbridge Island.

10578 Sunrise Dr NE on Bainbridge Island.

The fabulously remodeled kitchen.

Living room with vaulted ceilings and centerpiece river rock fireplace.

The cozy family room.

Charming main floor hallway.

The master suite retreat.

The spa-like master bathroom.

View from the master bedroom.

The guest apartment over the garage.

The sandy beach – deeded beach access is via a private trail.

Front of the home.

Aerial view of the property.

Details about the home:

Enjoy views of the Sound and deeded beach access from this charming, jewel-box home tucked behind mature, professionally-designed landscaping. Reimagined and masterfully crafted by fine local builder Tom Whealdon, this home is a beautiful marriage of high-end finishes and thoughtful details. Divine chef’s kitchen with French range and Sub-Zero fridge, spa-like master suite retreat, and wide plank quarter sawn oak flooring. The 650 sq ft guest apartment shares the same refinement. A rare find.

  • three bedrooms – 3,241 sq ft in main home
  • guest apartment over garage – 650 sq ft
  • Sound and Cascade Mountain views
  • .59 acres – flat lot
  • deeded beach access
  • remodeled by Tom Whealdon; originally built in 1961
  • chef’s kitchen, spa-like master bathroom, quarter sawn oak floors, wool carpeting
  • fine finishes and  updated fixtures throughout the home
  • two main floor bedrooms; master bedroom on second level
  • heated 2-car garage

Please reach out for a private showing.

Again, much more info on the home can be found here.

 

 

 

 

 

 

 

On December 6, 2019, in Homes, Listing, Open Houses, Top 10 Homes, by

Summer is over, over.  It is raining.  The holidays are coming.  We are very seasonal here on Bainbridge Island with our real estate market and our busy listing season is April – August.  When I sold real estate back in California the listing season was less dramatic, sales happened pretty consistently year round. Here, in Washington, we are more affected by the weather. We are heading into that slower listing season right about now. Our busy season bled into fall this year more than it ever has in my 12 years in the business here.  Right now we have about 80 homes on the market.  In January, that number may get down to around 50. I have seen it in the 30’s before.  In our small niche market, a handful of good listing makes a big difference.  Which is why listing in the winter can be very good for sellers.  Some of my favorite homes on the island have come on the market in fall and winter. They are always such a fun surprise.

In the fall I get a bit of time to reflect on the past busy season.  What worked?  What could be improved?  How do I want my business to continue to evolve?  I look at where my clients are coming from and where they are going.  Below is a grid of my 2019 summer sales, back when the sky was indeed blue.

Homes sold by Jen Pells real Estate Summer 2019

Fun facts about my summer sales:

Total number of sales from Memorial Day through Labor Day – 18

Highest priced sale – $3.6M for a 5,000 square foot waterfront home on South Beach

Most affordable sale – $435,000 for a one bedroom condo at Harbor Square

Number of repeat clients – 8

Number of related clients in the grid above – 4

Number of sellers represented – 12

Number of buyers represented  – 6

Number of clients who moved from one house to another house on Island – 7

Number of sales that represented Newcomers to the island – 5

Number of sales that were multiple offers – 7

Shortest days on market for sales above  – 2!

Longest days on market for sales above  – 23

Things move quickly in the prime selling season and I worked some long days in the summer making sure my clients were where they needed to be before their next chapter started. Good thing it stays light until 10pm here in the summer.

The market is still moving at a nice pace, but I am grateful for pace that is a touch slower so I have a little more time to breath and recharge and give a little extra time and attention to my active fall and winter clients.

If you’d like to talk more about the market, give me a call.

To see my complete sales portfolio, click here.

Things, they are shifting . . . a bit.  We are still in a seller’s market and sales are brisk and sellers are happy and buyers are a bit more happy because they are not ALWAYS in multiple offer situations.  Take a closer look at the KITSAP numbers in the GARDNER REPORT below.  Click on each page to see a blown up version. 

Daily, at the gym and the grocery store, people want to know about the market.  We are a small, niche market and even those not in it daily can feel the slight change happening.

The largest shift I am feeling right now is that many, many, empty-nesters in the larger homes on an acre-plus have listed their homes this year. I thought we would see more of that last year but this year those homes really arrived on the market and the $1.1-$1.3M range of the market is feeling the “flood” of listings.

As of today we have 116 homes on the BAINBRIDGE ISLAND market

21 are between $1.1-$1.3M

76 are above $1M

Only 26 are below $800K and several of those are what many of us consider townhomes

Buyers have options in all price ranges and when they do, they are choosy and specific. That is a refreshing shift. When I have my buyer’s agent hat on it is a fun day. I love that buyers have 5-8 great options to consider and can make an under-asking offer.  When I have my seller’s agent hat on I say, prepare, prepare, prepare and get ahead of the pack.

All in all, it is about strategy and timing. We are a very-seasonal market here and our end-of-summer slow down is beginning too. How can that work for you as a buyer or seller?  We all have our own specific ways of getting our clients to closing day.  I am having a fun, busy summer, with buyers and sellers.  If you are curious about how this current market can work for you, let’s chat.

Jen Pells Real Estate Bainbridge Island

Jen Pells Real Estate Bainbridge Island

Jen Pells Real Estate Bainbridge Island

Jen Pells Real Estate Bainbridge Island

 

Is a Normal Market in Our Future?

Jen Pells Real Estate on Bainbridge Island

Getting Real

Let’s put it on the table right away: Our real estate market did not perform at the same level in 2018 as it did in 2017. But that does not mean we had an unsuccessful market in 2018; nor does it necessarily mean we should brace for a difficult market in 2019. We just have to apply a bit of perspective.

Taken in the context of historical numbers, it appears 2017 was an “outlier,” especially between July and December. There was a frenzied demand throughout 2017, reflective of (but not nearly as severe as) our metropolitan neighbor across the Sound. On Bainbridge, we had a peak during the second half of 2017, which flowed into the early months of 2018. But then the frenzy cooled, as it did in Seattle, and we moved toward a slower pace in the second half of the year. (There were 314 homes and condominiums sold on Bainbridge between July and December 2017, surpassing the previous high of 290 during that same period in 2015). When viewed historically, 2018 appears to be much closer to “normal” than 2017 was. And, when taken in the context of the larger local and national economies, we actually believe our real estate market held up very well.

Considering All Factors

Thenumberofhomessoldduringanyperiodisonlypartofthepicture.Whenwelookatrealestate appreciation, 2018 was very successful. For the year, the median price for homes and condominiums combined rose almost 8% in 2018 (and homes alone rose 8.4%). The second half of 2018 saw appreciation of almost 5% over the second half of 2017. These are healthy num- bers and consistent with a healthy market. Using general statistics (like the median price) only gives us an idea of the movement of the market, and not necessarily of any individual home. But it does give sellers an inkling of the direction of their homes’ values. The rule of thumb says that a home needs to be owned for at least five years to really benefit from a market’s movement. Comparing the median home price sold at the end of 2013 ($527,000) with the same price at the end of 2018 ($908,500), we have seen a 72.4% increase. So if you had purchased a home in 2013 and were to put it on the market today – assuming it was properly presented and marketed – you would probably realize a healthy return on your 2013 investment.

When we look at the bigger economic picture, we do not see financial institutions collapsing or other deep recession signals, so we ascribe the market’s change to a shift from a heated to a more normal market. That being said, sellers need to acknowledge they are competing for buyers, and buyers are more discerning and disciplined in their approach. Pricing, presentation and negotiating – all areas where good agents bring value to the table – are critical for sellers to be able to achieve the best net value from their homes and condominiums.

Bainbridge Island Real Estate Jen Pells

Condominiums

The condominium market experienced an even more dramatic drop-off in the second half of the year. At the end of the first half, 2018’s condo sales surpassed 2017’s but by the end of the year had fallen behind in total numbers (126 sold in 2017, 109 in 2018). However, when we look more closely, the area of steepest decline was in the $800K-$1M price range (24 sales in 2017 and 10 sales in 2018). This could have as much to do with inventory as market shift. Two new on-island projects, The Roost and Residences at Pleasant Beach, both sold briskly in the second half of 2017 and were completely sold out by the first half of 2018. No other new projects came to the market in 2018, so it appears supply might have as much to do with the drop as demand. As with homes, the median price of condos had a healthy increase of 8.6% over 2017.

The prognosis for the Bainbridge condominium market is very positive. There are two buyer types who are especially drawn to condos: people needing more affordable residences and “downsizers.” In 2018, 42% of the condos sold (46 sales) were priced less than $500K compared to 17 homes sold for less than $500K. At the upper end of this segment of the market, the downsizers were the driving force in the over $800K sales and quality inventory was lacking in the second half of 2018.

Land

Land sales in 2018 were also down compared to 2017 (31 in 2018 versus 41 in 2017), but the median price increased a whopping 60% ($400K in 2018 versus $250K in 2017), although 58% of the sales were less than the median $400K. One has to be careful not to read too much into statistics when applied to such a small population, but it certainly indicates land values are healthy.

A Forward Focus

As we kick off 2019, we know it will be an interesting year. There is a lot of uncertainty out there and it is difficult to predict how it will affect our market. Still, the regional economic picture, which has a tremendous impact on our market, is healthy with a positive outlook. The bottom line: we anticipate a more “normal” market this year. Regardless of the market, our mission at Windermere is to strive to make sure all our clients, buyers and sellers both, will do as well as they possibly can in the market they find themselves in.

Happy New Year!

The 2019 market is starting to wake up after its short winter rest, which is always my cue to compose one of my favorite blog posts, the list of my top 10 homes on the island for 2018. Last year 398 homes sold on the island – down a bit from the busy 439 we saw sell in 2017, but up from 369 in 2016. 2018 was my best year yet in real estate, so it indeed felt busy in my world.

This is my 11th list (see all the lists here) and again, these are homes that resonated with me personally when I toured them last year.  I am not one to live in or love a cookie-cutter home, so charm and even quirkiness get my attention.  In 2018 we continued to see spec-built homes come onto our market.  As DR Horton sold out, two other neighborhoods took their place, including one by Quadrant who has entered into our Bainbridge Market for the first time.  For now, let’s take a tour around the island and through the selling season of last year.

 

#10 | Island Center Road NE

#10

Original List Price $710,000

Sale Price $720,000 (multiple offers)

Days on Market – 6

Date Sold 6/1/2018

Click here for more photos and the full listing detail.

For #10 we start mid-island on a beautiful piece of property on Island Center Road. This home and property were a fabulous package.  The home is cozy at just under 1600 square feet and colorful with warm wood and beautiful, practical built-ins. I loved the barn door too. High quality materials were used throughout the home, which overlooked a bucolic two-acre property with tucked off a main road.  I am a big fan of metal garden artwork and this property had a nice collection mixed in the gardens and fruit trees. The home also had a sweet guest space over the garage.  It was no surprise this well-priced home and property, all abloom in June, saw multiple offers.

 

#9 | Manitou Beach Drive NE

#9

Original List Price $825,000

Sale Price $865,000 (multiple offers)

Days on Market – 7

Date Sold 5/25/2018

Click here for more photos and the full listing detail.

For #9 we move east to a view home on Manitou Beach Drive. This is another cozy home, but with a completely different vibe. This older home built in 1920 and just under 1900 square feet was the cozy beach cottage many buyers were looking for last summer.  Off Murden Cove, this home has nice views of the water plus a charming yard and garden too.  Nice updates were done through the home over the years, but the original charm remained.  Many of the homes in the Murden Cove area have views, but are also walkable to the popular Rolling Bay hub, a nice combination that makes it a popular choice for buyers.  Again, I was not surprised to see this sweet cottage receive multiple offers last May.

 

#8 | Cherry Orchard Lane

#8

Original List Price $850,000

Sale Price $900,000

Days on Market –  2

Date Sold 3/7/2018

Click here for more photos and the full listing detail.

For #8 we stay mid-island and move a bit west to a modern home on a large lot on Cherry Orchard Lane. This home sold twice in one year, but the last sellers made some nice changes, including paint inside and out.  This is a rare larger, cleared,  flat lot, close-in to town. The property also connected to Strawberry Hill Park.  Custom-built, the home has a bit of a modern flair, an open floorplan and a main-floor master.  I really like Cherry Orchard Lane, as it is one of the first streets as you head out of town where you begin to see larger parcels like this one at over two acres.  Smaller homes (2,100 square feet) on large lots are also rare.  Built in 2010, this newer, custom-built home sold for $50K over asking the first weekend it was on the market.

 

#7 | Fernclff Avenue NE

#7

Original List Price $1,098,000

Sale Price $1,100,000

Days on Market – 6

Date Sold 3/8/2018

Click here for more photos and the full listing detail.

Staying central we move east again for #7 to this charming cedar-shingled home on Ferncliff Avenue. I listed this home last winter and this is such an easy home to live in and love.  My clients were so sad that they outgrew this home as the charm and high quality craftsmanship spilt out from each and every corner. Solid wood doors, box-beam ceilings, a clawfoot tub. This home is also close to the ferry, across the street from beach access and has peak-a-boo views of the Sound.  I fell for this kitchen, with a built-in breakfast booth, apron sink, large island and TWO pantries.  Like I said, this was a home that was easy to live in and love and hard for my clients to leave – although they indeed moved into a another very sweet home. This homes sold for above full price last March.

 

#6 | Tiffany Meadows Drive NE

#6

Original List Price $1,198,000

Sale Price $1,198,000

Days on Market – 83

Date Sold 5/22/2018

Click here for more photos and the full listing detail.

Mid-island is the theme for this list as we move closer into the Wing Point Neighborhood for #6. This is another cedar-shingled home, but of a completely different style.  This homes was designed by local architect Jim Cutler.  This three-level home has walls of windows and sits right on the Wing Point Golf Course.  I like how they used half walls to unify the spaces. The unique style and high-end finishes set this home apart from the more traditional homes in this neighborhood. I also loved that it appears to be floating above the golf course and neighboring pond and it is also tucked off the main road.  But what I loved the most were the  multiple decks around the house off the main living spaces – throughout the day you could enjoy eastern and western sun. This home sold for full price last May.

 

#5 | NE Setting Sun Lane

#5

Original List Price $1,498,000

Sale Price $1,550,000 (multiple offers)

Days on Market – 6

Date Sold 5/31/2018

Click here for more photos and the full listing detail.

Now for #5 we move north and west to the lovely home on Setting Sun Lane. This home was built by one of my favorite builders, Rick Debarros. I believe this was the last home Rick built on the island before he retired and moved out of state.  His construction was high quality, the finish choices are timeless and the floorplans he built were spot on for practicality with a nice balance between wide open spaces and separate rooms.  He understood the need for mud-rooms (especial in the PNW), large laundry rooms and bonus rooms.  The home sits on a large one-acre west-facing lot right across the street from popular Battlepoint Park.  This home resonated with many buyers last spring and saw multiple offers in May.

 

#4 | Edgecombe Place NE

#4

Original List Price $1,575,000

Sale Price $1,605,000

Days on Market – 3

Date Sold 6/1/2018

Click here for more photos and the full listing detail.

We quickly move back closer to town with this view home coming in at #4 on Edgecombe Lane. This home was a terrific package.  It was remodeled by Smallwood Construction in 2011 and very well done.  The home and property have an estate-like feel with a gorgeous front yard with views on the Sound and Seattle and a park-like lawn in the back yard.  Across the street, the neighborhood shares private beach access.  Inside the home were a nice balance of rooms with tall vaulted ceilings and smaller rooms with warm wood built-ins and a cozy feel.  Many view homes orient one direction, but the fabulous thing about this home was the yard and setting were striking all around the home.  One lucky buyer snapped this home up the first weekend with an over-asking offer.

 

#3 | NE Gordon Drive

#3

Original List Price $1,950,000

Sale Price $1,885,000

Days on Market – 46

Date Sold 11/30/2018

Click here for more photos and the full listing detail.

For #3 we move about as far north as you can go to Gordon Drive. This home is another wonderful package.  Waterfront, dock, acreage, plus a charming, modern home with fun hobby spaces.  This north-end beach house has a lot of what waterfront buyers are looking for.  Many waterfront homes are on small lots. The privacy here with a large enough lot to garden and have fruit trees is hard to find.  This waterfront home on 200 bulkheaded feet also has a dock.  Inside, I loved the impressive front door, all-glass entry hall, and exposed beams throughout.  The one-level home originally built in 1939 had been added onto nicely by the current, longtime owners.  Some lucky buyers have moved into a classic, impressive Bainbridge Package.

 

#2 | Fletcher Landing NE

#2

Original List Price $1,950,000

Sale Price $1,950,000

Days on Market – 8

Date Sold 8/17/2018

Click here for more photos and the full listing detail.

Bouncing back to mid-island again we find ourselves on Fletcher Landing for #2. Fletcher Landing is a bit of a hidden gem on the island.  Tucked in off the open water, the bay here is tranquil, easy water to live on and play on. I loved the mid-modern vibe of this house and the location on the bay sites it well for impressive Olympic Mountain Views.  Another home with a dock, and additional hobby/studio spaces.  The sleek, modern kitchen overlooks the water and the large, covered deck is fantastic to enjoy the outdoors all year round. The front court-yard gives the homes a special, private feel as you enter.  I was not surprised his home did not last long on the market, seeing a full-price offer the first week.

 

#1 | NE Country Club Road

#1

Original List Price $2,300,000

Sale Price $2,100,000

Days on Market – 17

Date Sold 12/10/2018

Click here for more photos and the full listing detail.

The south-end makes a rare appearance for #1 as we head into the gated community of Country Club Road for the coveted top spot. It is rare when one of the 18 homes comes on the market in the Seattle County Club Neighborhood on Bainbridge Island. So, when they do, most agents, including myself, make sure we go tour them. They are always a visual feast.  This home had never been on the market before and much of it was in original 1914 condition. This 6,200 square foot home has an amazing view due-south off Restoration Point.  Architect Carl Gould (founder of the Architecture School at the University of Washington) knew what he was doing when he sited this home to take advantage of southern sun, Rich Passage and Mt. Rainer views.  The home itself has amazing period details like a butler’s kitchen/pantry, massive amounts of clear grain fir trim, clawfoot tubs, and grand decks, both covered and uncovered, overlooking the impressive open waters and rustic beach down below.  Walking through the home this is certainly one where you wished the walls could talk. I am sure this home saw some superb summer parties in its day. This home, which requires county club approval, and currently has dues of $1,800 a month sold for $2.1M after 17 days on the market.

 

Below is a mapping of the homes on my list. We seemed to have very little activity on the south-end last year and much more central and north – my list seems to express that.

I consider it an honor and privledge to tour so many unique and special homes. To get a feel of the homes I personally enjoy touring and see all eleven of my annual lists in one place, click here.  Have a fun virtual tour of beautiful homes on our island.

   It will be interesting to see how the 2019 market unfolds. Here’s to more, charming and unique homes. I look forward to seeing you out there.

 

 

 

 

 

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