Mercer Island, WA

Bonus/Rec Room, Fireplace, Pantry, Vaulted Ceilings, Garbage Disposal, Vacuum System Built in, Bathroom Off Master Bedroom, Basement, Double Pane/Storm Windows, Washer/Dryer, Wet Bar, Utility Room, Hot Tub and/or Spa, Den/Library/Office, Range/Oven, Breakfast Bar Exterior Features. To directly access this property, use this shortcut: http://www.fizber.com/washington-buy-single-family-home-11647869.html

Just east of Seattle, west of Bellevue, and north of Renton over Interstate 90 in the southend of Lake Washington stands Mercer Island. Mercer Island is also a city, and one of the premiere neighborhoods in the Northwest. The only way on and off this Island City without a boat is Interstate 90.

You're just minutes from downtown Seattle, or Bellevue.

Some of my favorite views are from the south end of the Island... looking south and east at the Cascade Mountains and Mt. Rainier...

At my most recent count Mercer Island has 7162 homes. There are 782 with Lake Washington lake front.

Our study today is only looking at MI properties that are not waterfront. As most of you are very aware, waterfront and non-waterfront properties is like comparing apples and almonds, you can't.

	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

There have been 3 waterfront homes sold in Mercer Island so far in 2009. Two are in the Lakes neighborhood, while the third is Lake Washington waterfront.

The Lakes neighborhood is comprised of high end 1980's era homes on a group of small inland lakes. The two homes sold each had waterfront on this neighborhood shoreline. Selling at just under $1,000,000, the first 4 bed, 3.5 bath home sold at a 15% discount from list price in about 5 months. The second sale in Lakes was a 3 bed, 2.5 bath home with 120+ feet of waterfront. The home sold for just over $1,000,000 at a 6% discount from list. It was on the market for 9 months.

The other sale was a Lake Washington waterfront home on the "quiet" Northeast shore of Mercer Island. With 80 feet of waterfront and a modest 1500 sq ft house, it sold for almost $2,000,000 after 10 months on the market. The 3 bed, 1.5 bath home is a 1915 cottage is situated on a large, 16,000 sq ft lot with plenty of privacy.

Mercer Island Waterfront Homes

Mercer Island Water View Homes

Sam DeBord and Brian Wiegand
SeattleHome.com (206) 431-5900
Seattle Waterfront Real Estate Brokers - RE/MAX Connected
Seattle Waterfront Homes - Seattle Water View Homes - Seattle Floating Homes - Seattle Houseboats - Seattle Condos - Seattle Luxury Homes - Seattle Homes For Sale

Mercer Island homes with waterfront access don't usually dip below the $1 million mark, but currently there is 1 home with waterfront access listed under a million.

Lake Washington homes - Mercer Island Waterfront Real Estate

I follow statistics every friday morning and I am just stunned as to the lack of activity taking place on the island. I guess it's true that those markets which were affected last will recover later than others. What an amazing time to be a buyer on the island in that homes which have excessive market times are taking drastic price reductions. Unfortunately, we're not seeing a lot of great homes to purchase. It's fairly simple to find a 40-year old not updated home but how about an updated home, on a great street, at a realistic price?

Check out my weekly trackings to better understand what I am talking about. Definitely a buyer's market...

http://www.jayagoado.net/blog/QuarterlyRatios(Area510).pdf