Newcastle, WA

All I can say for those of you that missed it, well... it was a lot of fun. Here is my son Nathan having fun at the lake. I think by far this is the best shot of Nathan EVER!!! Because he doesn't like taking pictures

This one is also shot of my two boys. Eitan and Nathan

That would be my mentor Denny Buck who didn't want to show his face

Our wonderful Chris. I am not sure who is next to her

Hollie is always here to help.

Here is Kathy and Chris our brokers. They were nice enough to grill for us. Yummy!!!

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Residential Transaction Study	8/12/2009
Project description: Newcastle, WA 98056... single family dwellings (non-waterfront)

monthly market

Most recent transaction: 8/3/2009

Market (homes): 1876

month	year	sales	mrkt%	$/sqft	avg price	median
Aug	2009
Jul	2009	5	0.3%	$170	$494,375	$515,000
Jun	2009	5	0.3%	$193	$541,040	$432,250
May	2009	8	0.4%	$197	$498,244	$417,500
Apr	2009	7	0.4%	$166	$512,429	$500,000
Mar	2009	1	0.1%	$213	$285,000	$285,000

property characteristics

1 story	881	w/ bsmt	715	platted	1,838
1.5 story	40	avg bsmt sqft	1,139	avg lot sqft1	13,942
2 story	950	w/ garage	1,544	unplatted	38
3+ story	1	avg garage sqft	538	avg lot sqft2	34,396
avg % imprvd	60%	avg year built	1981	avg bldg sqft	2,443
avg # beds	4	avg # baths	2

	1avg lot sqft of all platted properties	2avg lot sqft of all unplatted properties

	The data used in this report is deemed reliable, but not guaranteed. Ticor Title cannot be held responsible for any inaccuracies. © 2004-2009 Ticor Title Renton WA 98057

Residential Transaction Study	8/12/2009
Project description: Newcastle, WA 98059... single family dwellings (non-waterfront)

monthly market

Most recent transaction: 7/31/2009

Market (homes): 1104

month	year	sales	mrkt%	$/sqft	avg price	median
Jul	2009	6	0.5%	$227	$835,792	$705,000
Jun	2009	12	1.1%	$199	$787,502	$652,500
May	2009	5	0.5%	$207	$837,243	$800,000
Apr	2009	4	0.4%	$196	$770,000	$737,500
Mar	2009	5	0.5%	$246	$920,220	$1,012,500
Feb	2009	3	0.3%	$249	$1,158,333	$1,175,000

property characteristics

1 story	125	w/ bsmt	294	platted	1,058
1.5 story	9	avg bsmt sqft	1,195	avg lot sqft1	11,626
2 story	938	w/ garage	1,026	unplatted	46
3+ story	8	avg garage sqft	678	avg lot sqft2	106,176
avg % imprvd	65%	avg year built	1995	avg bldg sqft	3,431
avg # beds	4	avg # baths	3

	1avg lot sqft of all platted properties	2avg lot sqft of all unplatted properties

	The data used in this report is deemed reliable, but not guaranteed. Ticor Title cannot be held responsible for any inaccuracies. © 2004-2009 Ticor Title Renton WA 98057

So the real estate news is starting to show signs of life. Headlines across the country are touting great news such as; the bottom is here, that foreclosures are stabilizing in key areas and signs that the end of the recession is near.

Alan Pope & Associates are reporting that here locally over 22% of the homes on the market are being absorbed by the market and Quadrant Homes is planning to step up construction for the first time since the real estate downturn.

So buyers in the market are finding, it's like picking through the last bin of the clearance bin, the really good deals in the lower price range (under $350,000 in South King County) and the new home options are fewer and further between.

So are there any deals left? Yes, the luxury home market is where the real deals are.

Now that we know that flipping properties should be left to those that can afford the risk and a home should be bought for what works for yourself and/or your family, it is my opinion that there has never been a better time to buy a luxury home. Why? Because in real estate it's all about percentages.

Let's look at a luxury home development, The Reserve at Newcastle. This neighborhood saw its first home built in 2004. If we look at the sales in the Reserve for the first 6 months of 2007, which was arguable, the peak of the market, we see a median home price of $1,862,995 versus a medium home price of $1,252,500 in the first 6 months of 2009, that's a savings of 33% or $610,495.

One of the homes that I am selling in the Reserve was purchased in 2005 for over $1,415,000 and upgrades well over $200,000 for a total purchase price in excess of $1,615,000. Today it's on the market at $1,350,000, over a quarter million dollars in savings.

And an even stronger argument for today's luxury home buyer is that the inventory today will be unique in what to expect from home builders in the very near and distant future. It is doubtful a builder will expose themselves to the luxury market without a non-refundable cash deposit before construction even begins.

The features that made the homes built between 2003 and 2008 will become a moment in history unlikely to be recreated on a grand scale and certainly luxury neighborhoods will be isolated to this moment in time. From beautifully landscaped yards, to high end millwork and scrollwork, to superb architecture and design, these features will be replaced with dense housing and energy conscience elements.

So if you are looking for a luxury home, this is still your time. The selection is vast, the prices are unbelievable, and the mortgage rates can be very attractive.

If you would like to know more about any luxury home or neigborhood, just give me a call at 425-432-9430 or visit my website.

Thanks,

Jana

Just east of Seattle, across Lake Washington, nestled in the hills next to Cougar Mountain, south of Bellevue, west of Issaquah, and north of Renton, is the small City of Newcastle, Washington. It’s truly a beautiful area and one of my favorite neighborhoods.

Newcastle incorporated in 1994, but its history goes back 140 years. In the 1870’s it was a thriving coal mining community and soon boasted a population larger than Seattle for a time. My family has roots here.

My grandparents were immigrants. My grandfather George Fabre arrived here in 1912 from France, and Pauline Longville, my grandmother came with her widowed mother and brother Emile from Belgium in 1906. They met in Black Diamond, another coal town about 30 miles due south in the newly formed King County.

One of my favorite family stories about George and Pauline was how they met. Great Grandmother Celine Boulanger (Longville) came to Black Diamond and setup a boarding house for the miners. Celine, true to her namesake was also a fabulous baker. She built a huge adobe oven and became a local legend, known for her baked breads and pastries. Pauline helped her mom run the place (and I can testify to the fact that she too, was an absolutely fantastic cook and baker in her own right). Besides being very attractive, I have no doubt why George fell for Pauline!

As newly weds they moved to Newcastle and lived in the company owned town. My Uncle George was born there in 1919 and later my dad in 1921, in the company owned town. I confess that my knowledge of our family history is somewhat weak. My Grandparents I think wanted to forget the hard life of coal mining and never talked about it, so I don’t know very much about this time.

Residential Transaction Study	6/11/2009
Project description: Newcastle WA 98056 ~ non-waterfront single family dwellings

monthly market

Most recent transaction: 5/28/2009

Market (homes): 1880

month	year	sales	mrkt%	$/sqft	avg price	median
May	2009	8	0.4%	$197	$498,244	$417,500
Apr	2009	8	0.4%	$164	$519,869	$517,500
Mar	2009	1	0.1%	$213	$285,000	$285,000
Feb	2009	2	0.1%	$206	$496,500	$496,500
Jan	2009	2	0.1%	$262	$492,500	$492,500
Dec	2008	2	0.1%	$219	$544,800	$544,800

property characteristics

1 story	881	w/ bsmt	717	platted	1,842
1.5 story	40	avg bsmt sqft	1,140	avg lot sqft1	13,926
2 story	954	w/ garage	1,547	unplatted	38
3+ story	1	avg garage sqft	538	avg lot sqft2	34,396
avg % imprvd	60%	avg year built	1981	avg bldg sqft	2,446
avg # beds	4	avg # baths	2

	1avg lot sqft of all platted properties	2avg lot sqft of all unplatted properties

	The data used in this report is deemed reliable, but not guaranteed. Ticor Title cannot be held responsible for any inaccuracies. © 2004-2009 Ticor Title Renton WA 98057

I got on Ancestory.com and found the 1920 census. There you’ll find George Sr., Pauline, and George Jr. Dad wasn’t there yet, but there are a lot of relatives and names of people I knew growing up; the Baima’s, Delauranti’s, Thirion’s, Rubattino’s, and the Banchero’s to name a few.

I also found the 1930 census and the Fabre’s and family have all moved to Renton. I thought it was interesting that all the relatives and almost all of the neighbors had stayed so close together through the years and the whole clan in Newcastle picked up and moved to Renton, many of them within the same neighborhood. My Grandpa George became a contractor, and so did my Grandmothers older brother Emil (whom we always knew as Nono). Both of them, as independents, built an amazing number of nice homes in Renton through the 1930’s and 1940’s.

Residential Transaction Study	6/11/2009
Project description: Newcastle WA 98059 ~ non-waterfront single family dwellings

monthly market

Most recent transaction: 5/20/2009

Market (homes): 1104

month	year	sales	mrkt%	$/sqft	avg price	median
May	2009	5	0.5%	$207	$837,243	$800,000
Apr	2009	4	0.4%	$196	$770,000	$737,500
Mar	2009	5	0.5%	$246	$920,220	$1,012,500
Feb	2009	3	0.3%	$249	$1,158,333	$1,175,000
Jan	2009
Dec	2008	4	0.4%	$185	$768,750	$692,500

property characteristics

1 story	125	w/ bsmt	294	platted	1,058
1.5 story	9	avg bsmt sqft	1,195	avg lot sqft1	11,626
2 story	938	w/ garage	1,026	unplatted	46
3+ story	8	avg garage sqft	678	avg lot sqft2	106,176
avg % imprvd	65%	avg year built	1995	avg bldg sqft	3,431
avg # beds	4	avg # baths	3

	1avg lot sqft of all platted properties	2avg lot sqft of all unplatted properties

	The data used in this report is deemed reliable, but not guaranteed. Ticor Title cannot be held responsible for any inaccuracies. © 2004-2009 Ticor Title Renton WA 98057

Newcastle has grown, like most rural areas around here with a close proximity to Seattle. Yet it still maintains a rural flavor with a population of about 10,000 residents. Because of the Cougar Mountain Reserve, several huge ravines, a few rural corridors, trail parks, and a lot of hills, much of it still seems (almost) like the country I remember as a kid.

Some of the areas most stunning views are looking west over Lake Washington and Mercer Island right into downtown Seattle with the Olympic Mountains as a backdrop. You won’t find any humble immigrant coal miner’s anymore. Newcastle, especially the east half in zip code 98059 is now mostly very high end homes, with a lot of very well to doers in residence.

more about... René Fabre ... Ticor Title

René is the VP/IT Marketing Director for Ticor Title ~ Region 2 (Pacific Northwest). As creative director and implementer of marketing programs and web strategies he frequently gives a series of popular workshops for real estate professionals that include: Enhancing your Internet Presence, Lead Generation, Find A Buyer (how will they find you?), and Internet Marketing 101.