Open Sunday May 15th from 1pm to 4pm
4876 Rose Avenue NE
Bainbridge Island, WA 98110
OPEN SUNDAY, May 1st 1pm to 4pm
Offered at $998,000
Beautiful property and exquisite home, just a short stroll to parks and trails to Blakely Harbor. Stone fireplace warms the great room extending into the grand open kitchen inspiring culinary performances and memorable gatherings. This fabulous home features boxed beam ceilings and painted pine walls, custom furniture grade cabinetry, soapstone counters and select quarter-sawn floors, offering casual comfort of Island life and the charm of a bygone era. Timeless, function and value throughout! NWMLS #931429
For more information and to preview the photo gallery, please click HERE
The Same Old Tune
Even as the birds of springtime sing their new songs of the season, we must hit repeat as we report – once again – on our local market’s low inventory. A lack of available homes continues to dictate what’s happening in Bainbridge Island real estate. On April 1st, there were only 47 homes and 5 condominiums available for sale on the island. Within the overall market, certain price points have been more pinched than others (which is a snapshot in time and will change as the year goes on). For example, if you were looking for a home in the $600K to $800K range, you had only 5 houses to choose from and zero condominiums.
How Inventory Affects Sales and Prices
This extremely limited inventory helped drive home sales down more than 20% from last year. There are plenty of buyers out there; there are just not enough properties on the market to sell. The scarcity of inventory has increased competition and bumped median prices up more than 9%. The average, which is more a function of the price ranges where homes closed, was up more than 18%. The median cumulative days on market dropped from 26 in 2015 to 20 in 2016. To put this in perspective, the cumulative days on market in 2012 was 146 days.
The Story on Condominiums and Land
The condominium market is also suffering from lack of inventory. Last year at the beginning of April, there were 16 condominiums available compared to this year’s 5; both of which lie in sharp contrast to 2012, when there were 45 available. Consequently, sales dropped from 19 to 16, but the median price rose 23% to $430K. Land, on the other hand, experienced a 30% increase in sales to 13 parcels this quarter with a 26.8% increase in the median price to $225K.
The View from Inside
One might assume that a market like this, with rising prices and inventory competition, makes our jobs easier. The reality is that there are some basic principles, goals and strategies that any good real estate professional seeks to embrace, all of which must adapt to an ever-changing market. Regardless of the climate, we want our clients to achieve the best possible outcomes – both at closing and in the future. This is sometimes easier said than done, especially when competition is fierce and time is of the essence. Given the complexities of the Bainbridge market, where most homes and locations are unlike any others, things can get even more challenging. It is not like buying or selling in a large subdivision where a product like Zillow has some merit. Here, each house has strengths and weaknesses and the success of a sale can pivot on those subtle nuances.
If you’re a Buyer
For buyers in this market, supply is tight and prices are rising. You almost have to assume you will be competing with others when you find the house you would like to make your home. Is the price fair? How high should you go? The specter of 2006 and 2007 should be in the back of your mind, as the concept of paying “whatever it takes” came back to bite many homebuyers. An agent brings knowledge of the current market, the choices it offers, what might be coming and how an individual house fits into the bigger picture – including the history of the neighborhood and often of the house. An agent will know whether a price is in line or whether the seller is being aggressive. When there are limited comparable properties, this expertise becomes extremely important. No one wants to hear, “You paid how much for your house?!”
In multiple offer situations, there are strategies to employ. You need to line up your resources to be “the best you can be.” Multiple offers often require that decisions be made quickly, so being prepared makes you a stronger buyer and one less likely to be disappointed later. If you are not a cash buyer, there are things you can do to compete with those who are. Get comfortable with the stack of forms you’ll be asked to sign. Ask your Realtor what it means to omit certain forms, how to read building inspection reports and Title reports. Learn how to spot red flags that make certain houses less expensive. Being a buyer in this market can be difficult, frustrating and even scary. A good agent can help you navigate the winding road to achieve the best results and avoid mistakes.
If you’re a Seller
Sellers may think they have it easier, but the reality is that a seller’s quest is the same in an ascending market as in a descending one. The two primary goals for sellers are to get the home sold in the timeframe desired and to maximize net proceeds. Buyers will be more attracted to, and will ultimately pay more for, a house that is optimized to appeal to a buyer and priced in a manner that a buyer feels is reasonable in the current market. Knowing the current market, as well as past and future markets and how a particular home fits into all of them, is essential in achieving the seller’s ultimate goals. But the work is just beginning when buyers first express interest. You have to know which of them will have the greatest possibility of actually achieving a closed transaction. It is surprising how many transactions fall apart in this market. Negotiating inspections, Appraisals, Sellers’ liability; what do all those forms mean and what are your responsibilities? There are many steps between deciding to sell and achieving your goals. The reality is that sellers don’t always get everything they hope to get out of a sale – even in a sellers’ market. But an experienced agent will help you prepare, present and respond so you can get the most out of any market.
Real estate markets fluctuate all the time, sometimes favoring buyers and sometimes favoring sellers. This is simply the nature of the business. But in the midst of all those ups and downs, one thing remains consistent: the beauty and livability of Bainbridge Island. At Windermere Bainbridge, we celebrate our island community and all it has to offer.
In honor of Earth Day, I thought I would have a little tribute to the color green. While a pale, almost neutral green is common in design, it takes guts and color savvy to really sock a punch to a room with green. These are a few great examples where the designer is a green maven.
This room has such a fun vintage feel without the burden of all of grandma's clutter. Keeping all of the other major pieces a stark white really showcases the green color.
I LOVE this room; my eye was immediately drawn to the Egg Chair in that gorgeous shade of green!
I think I'm drawn to this room because it looks like it was inspired by the Farnsworth house. The green accent mimics what is going on outside the structure.
The designer of this bathroom understands color and balance. The green is allowed to shine against the white while a little punch of orange provides great contrast.
Speaking of orange and green – being fearless with color can be intimidating but rewarding and well worth it when done properly. The balance of the orange and green is so refreshing and exciting.
Also, chocolate brown looks fantastic with green.
This calm traditional room probably would have seemed like the same old, same old without that brilliant hit of green provided by the duvet and throw pillow.
Here the green tiles add a bit of whimsy to an otherwise very modern kitchen.
And finally, who says wreaths are only for Christmas? A living wreath planted on a moss ring provides lovely greeting at your front door.
Grand porches get more press, but you can pack just as much style into a small space. Whether you have a city stoop, an apartment building landing, exposed exterior stairs or a small porch, these 10 ideas will help you make the most of your home’s entrance.
1. Add a quirky planter. Done with that umbrella stand? Tuck a plant pot in there for an instant transformation. Or take a funky vintage find, like an elephant-shaped stool, and use it as a plant stand beside the front door. It’s sure to make guests (and you) smile.
2. Paint your door a bright color. A cheerfully bright, mood-boosting hue is a great way to light up a small or dark entryway. Try yellow, lime green or aqua.
3. Paint pots to match your door. This is quite possibly the easiest way to make your front entrance feel put together: Cluster flowerpots in the same hue as your front door on the stoop. Stick with odd numbers and vary the sizes of the pots for a more casual look. For a formal entrance, choose two giant, identical pots to flank the door.
4. Roll out a big rug. Why stick with itty-bitty doormats when you can offer guests a big, cheerful outdoor rug instead? A larger rug on a small stoop will help the area seem more spacious — a tiny doormat tends to break up the space. A big rug on the porch also does wonders for hiding imperfect floors!
5. Position trellises to frame the entrance. Positioned at each end of the porch or front steps, trellises provide welcome privacy and shade to the entrance. If the area gets good sunlight (and the climate allows), why not plant something fragrant, like jasmine, so you can enjoy a delicious scent each time you return home?
6. Style some beachy finds. Driftwood, shells, glass lanterns, striped beach blankets and woven seats create a laid-back vibe on this front porch. If you have only a tiny amount of room, try arranging a single chunk of driftwood, a big shell and a glass lantern beside the door.
7. Plant a window box. When you hardly have a stoop, let alone a full porch, it can be difficult to find ways to personalize your space. Try hanging a window box from the front window and installing a handsome lantern beside the door.
8. Invest in topiary. A pair of topiary trees or neatly trimmed potted shrubs flanking the front door makes for an elegant entrance. You can’t miss with classic blue and white ceramic pots, moss-covered concrete or black urns, or square wooden planter boxes. If your stoop gets zero sun, consider investing in high-quality fake topiary — it’s really hard to tell the difference, and you can’t kill it!
9. Draw the eye up with hanging baskets. Big hanging pots of ferns look bountiful and lush, and can handle the shade under an eave. Be sure to choose pots that are on the large side, and hang them about two-thirds of the way up from the porch floor — small pots hung too high look awkward.
10. Swap plain numbers for an address plaque. A custom address plaque imparts more sophistication than plain house numbers. If you like, personalize it further by making up a name for your house.
Whether you're an owner or a renter, odds are that you have a complicated relationship with your home. As with any relationship, there are ups and downs, good times and bad, things you love and things you hate. But despite it all, you stick with it — hopefully because you love it.
And also as with any relationship, your love for your home progresses as time goes on. But there's always that honeymoon stage, the time when you're totally infatuated. We asked what one thing made you fall in love with your home — the thing that tipped you over the edge and made you decide it was the place for you.
Here is a list of items that make my clients swoon, over and over again.
Sometimes functional items are designed so beautifully that they blur the line between architecture and art. The fireplace surrounds in this collection are sculptural, stunningly beautiful and, arguably, works of art.
There are many reasons for using transoms. Here's the rundown on this fun-to-say architectural term. Transoms gained popularity after being used in spaces where an intricate shape or style door met another transverse architectural element. Pretty and purposeful, transoms are often used as ornamentation. They can also be functional; adding more sunlight to a room and (with the right hardware) they can swivel forward or backward for good air flow from the outdoors.
A Kitchen you’re proud to show off to friends and family
What makes the perfect kitchen? The answer is as varied as cooks are. Style is easier to recognize with your eyes than with words: You know it when you see it, and the one that inspires you most can often surprise you. From ultra-modern minimalist design to rustic woodwork and everything in between… your only limits are in your imagination and your wallet!
Historical charm relevant to the home but renovated with greener products
Although interior and exterior appeal is essential, history is what earned some homes a spot in people’s hearts. Bainbridge Island is full of beautiful vintage homes that are purchased and renovated yearly. In keeping with adaptive reuse of landmark buildings, subtle renovations can preserve the remarkable craftsmanship and details of bygone eras – while using newer, green products that enhance the style of the home while providing the amenities that modern living requires.
Indoor/outdoor living space
Some homeowners are all about being able to maximize long summer days with an indoor/outdoor living space that can also be used on slightly less warmer Spring and Fall Days. An outdoor living room complete with a covered area and amenities like a fireplace and cooking area expands your home into new world of dining and living al fresco.
High Ceilings/unique ceilings
Space and high ceilings make all the difference for some people. The open airy feeling lends to a feeling of sophistication while also making even a smaller home feel much larger. Add a unique ceiling with box beams, exposed rafters or timber framing and suddenly your ceiling has become a large part of your home’s architectural style.
Amazing View – Water or Territorial
Many people fall in love with the beautiful surroundings and views before actually falling in love with their homes. Whether it is large territorial view, a wooded sanctuary or open water view – a view that speaks to your heart can make any house a home.
Examples of artful staircases can be found as far back as 1500 BC in ancient palaces in China – but open interior staircases on an ambitious spatial scale cannot really be found before Michelangelo’s at the Laurentian Library, Florence Italy (1524–71). For many people, a grand staircase can turn a functional part of a home into a focal piece of art that makes them fall in love with a home immediately.
Interior details like round doorways, wood work, bookshelves and other charming details
Wood is becoming more and more expensive, and the level of craftsmanship in older homes is much higher than what you typically find in a new construction. This may include floors, trim, molding, fireplace mantels, bookcases, china cabinets, staircases and more. Embellishments on cabinetry can make a lovely room feel even more special. Leather, metal and even glass can be used to step a look up a notch.
Custom or Elaborate Doors
And finally… If a home is a place of meaning, doorways are the most meaningful parts. An opening connects one space with another, while a door sets the stage for the human interaction. Opening a door and crossing the threshold moves us from one realm to the next — from outside to inside, from public to private, from bedroom to bathroom, from big space to small space, from cold to warm.
4479 Pleasant Beach Drive NE
Bainbridge Island, WA 98110
Offered at $1,150,000
Luxury seaside living in the heart of Pleasant Beach Village, just steps to restaurants, arts, theater and parks. Incredibly light this beautiful home features open gracious living with 9 foot ceilings, hardwood floors and propane fireplace. Wonderful low maintenance, single-family home features 3 bedrooms including Master bedroom with private balcony overlooking the water, sweeping views, walk-in closet and Jacuzzi tub. Incredible amenities include a bright gourmet kitchen with pantry and private patio, skylights throughout, central heat and cooling and a 2-car garage. NWMLS #893331
Singing a Familiar Song
In 2015, we watched as a trend that began in 2012 continued. For the past several years, we’ve had a steady decrease in available homes accompanied by increased values. In 2015 we saw more of the same – or less of the same, depending on one’s perspective. We are living and working in an ongoing environment of real estate scarcity. Still, we keep our eyes on the future rather than the past to see what the market will do next.
The Ebbs and Flows of an Island Market
As with all markets, we are subject to demand (buyers) and supply (sellers). The majority of our buyers come from two sources: island residents seeking to change their Bainbridge addresses (>40%) and people moving here from the Seattle environs (~30%). We are all aware of the craziness of the Seattle marketplace. Seattle is experiencing phenomenal economic and job growth, a lot of it right downtown. Seattle Metro real estate is also a fairly closed system, with little room for additional housing unless you want to live in an apartment tower or spend a lot of time on the freeways going east/south/north. The consequence of this growth has created some serious traffic issues and prices (for those who succeed in the multiple-offer frenzy) are a lot higher there than here. Once you factor in the great reputation of Bainbridge schools, it is little wonder families of downtown workers look to the island as a real estate alternative to Seattle.
Movement on the Rock
Then there are the Bainbridge buyers. Many island residents have been holding on to their homes purchased between 2006 and 2008, waiting for prices to come back up so they can move without taking an equity hit. In general, prices have gradually risen since 2012, which has brought home values closer to the peak prices of 2007. (Prices have grown >35% since the beginning of 2012 but certain areas/locations/amenities have outpaced appreciation relative to other island neighborhoods.) At the current rate, we should surpass the average price peak of 2007 at some point during 2016. (The average price in 2007 was $820,569; in 2015 it was $790,534.) The “upper end” segment (>$800K), which has been the slowest to recover, had a strong 2015 with sales up 35.6% from 2014 (137 versus 101). It is interesting to note this segment accounted for 36% of all the sales in 2015.
The Challenge of Choices
The only apparent impediment to local people moving around the island is a lack of choice. Bainbridge residents are reluctant to put their homes on the market because they cannot find alternatives that justify moving (and their current homes appreciate the longer they stay in them). The current demand is outstripping current supply, which creates price increases and buyer frustration. The demand comes from the fact that Bainbridge is a pretty great place to live so people want to move here. As long as Bainbridge Island is perceived to be a desirable community there will be demand from people wanting to live here. There aren’t many alternatives for families wanting great access to downtown Seattle, fabulous schools and a more relaxed lifestyle than Seattle provides.
Low Supply and High Demand
The effect of this demand will be continued buyer frustration, higher prices and a demand for more inventory (growth of the number of homes available, otherwise known as new construction and development). If our demand stays the same (and there is no reason to doubt that it will, at least in the mid-term), prices will rise more than if there is new inventory. For those of you who have been here for a while, you’ll remember how quickly our prices appreciated in the last decade (2002-2007).
The good news is that there are new construction projects being built and being planned. As home prices and demand have increased, builders have re-emerged. We had 68 land sales last year (with a median price increase of 27%, from $185K to $235K), the most in over a decade (and a long way from 2008’s 15 sales). Some of these are for single family; some are for developments. Grow Village, developments on Wing Point, Wyatt Way and Lovell, Weaver, Sunrise Bluff on the mid to north end are actively being pursued by builders. Pleasant Beach and “The Roost” on Point White in the south end want to move forward and will, just as soon as some issues with the local sewer infrastructure are answered. Some of these projects will come on line this year, and some in 2017. Last year, we recorded 21 new construction sales, a 31% increase over 2014 and a 420% increase over 2013.
The Word on Condominiums
Condominiums were dramatically affected by the lack of inventory. Active listings (listings not under contract to be sold) went from a peak of 16 in May down to only 4 in mid-December. That’s right. In mid-December, there were only 4 condominiums available island-wide. With that in mind, it is surprising that sales were only down 11% (90 versus 101). The median price, however, grew 11.2% ($372,500 versus $335,000) which surpassed the single family median increase. This was due primarily to sales between $400K-$500K increasing from 19 to 25 in 2015. (In both years, 86% of all sales were less than $500K.)
A Fresh Take
We expect 2016 to be an interesting year. There is little evidence to a slowdown in demand so the challenges sellers and especially buyers experienced in 2015 will probably not abate. There is a “buzz” that more people are thinking about selling this year, which will help. However, there appears to be a resurgence of a “no growth” attitude, which will drive prices higher. The trick is enabling growth so it maintains the qualities we currently have and allows Bainbridge Island to retain its distinct personality and charm.
The modern home is always evolving. And to get an idea of what it’s evolving to, look no further than what’s happening within its walls today. Exciting new materials, strategies and concepts will be coming to more homes in 2016.
1. Two-tone kitchen cabinets. Keep upper cabinets white or neutral for a clean, timeless feel; then go crazy with the lower cabinets by playing with various wood tones and deeper colors to take your kitchen in two different style directions.
2. Outdoor fabric used indoors. Outdoor fabrics are becoming increasingly hard to distinguish from traditional indoor fabrics, and many designers are bringing them inside – where their durability makes them perfect for high-traffic dining room and living room furniture, as shown here.
3. Colored stainless steel appliances. Black stainless steel is making a buzz in the design world. Shown here is LG’s new Black Stainless collection. Not into the darkness? Head to the light with Whirlpool’s Sunset Bronze finish.
4. Extra-large-format tile. Large-format tiles (such as 12 by 24 inches) have been making an appearance in kitchens and bathrooms for some time now, but stay on the lookout for extra-large-format ones. Just how extra? Try 31 by 71 inches, like the ceramic Ann Sacks tiles shown here on a fireplace surround project by Pangaea. That’s almost 3 by 6 feet!
5. Bidets. The separate bidet unit in bathrooms never really took off in America. But since manufacturers began creating combination bidet and toilet units, like the Toto version shown here, they’ve been catching on. In fact, 5 percent of renovated master bathrooms now include bidets.
6. Deep kitchen drawers. Data shows that ease of storage is the top kitchen priority during a remodel. And while deep drawers have been creeping up to replace lower kitchen cabinets for a while now, they’re only getting better — and more affordable. Dividers and inserts let you organize any shape or size of dish, pan or utensil under the sun, and there are even clever options for deep corners and drawers under range tops and kitchen sinks.
7. Formal dining rooms. Not everyone takes the leap to turn the dining room into an office or media room. For homeowners who entertain frequently, a designated space for gathering for special meals isn’t negotiable, and they’re pouring attention into these rooms.
8. Niche appliances. Looking for a little added luxury in the kitchen? Steam ovens (shown here) promise to cook food more thoroughly and healthily than microwaves; warming drawers give cooks a little wiggle room to deliver hot meals to family and guests; induction cooktops save space and are safer for homes with young kids; and kimchi refrigerators offer fans of the popular Korean condiment a chance to make their own at home.
9. Heated entryway floors. Sure, heated floors are popular in bathrooms, but if you live in a cold region, consider putting them in your entryway to help melt snow and dry boots.
10. Workhorse islands. Kitchen islands provide additional workspace, but they’ve taken on so much more than that. With deep storage, prep sinks, room for seating and more, workhorse islands are becoming the central feature in modern kitchens.
11. Statement mirrors in bathrooms. So long, medicine cabinets – hello, statement mirrors. Think large wood-framed beauties, backlit modern marvels and ornate vintage gems that boost style in a bathroom.
12. Barely-there kitchens. As kitchen layouts become more open, spatial identifiers like walls of cabinetry and full-size appliances fade away, leaving behind airy, fluid spaces that serve multiple functions while looking barely there.
13. Living rooms that ditch the tech for family. With so much screen time throughout the day and night, homeowners are looking for a calm respite where they can read a book, chat with friends and family or just sit quietly. Thus, the rise of living rooms devoid of digital distraction.
14. Kitchens that embrace openness and raw materials. The inherent simplicity in open shelves and raw materials plays a big part in the barely there kitchen we mentioned earlier. Embrace these, and the rest will follow.
15. Surprising backsplash and countertop pairings. You could play it safe with white subway tile and granite countertops, but sometimes safe is so boring. Instead, consider a different combination, such as a brick backsplash with concrete countertops (as shown here) or yellow ceramic tile with butcher block.
16. Fully decorated living rooms that don’t go overboard. How do you know when you haven’t decorated enough, or decorated too much? Designers pay attention to scale, light, function and more to strike the right balance.
17. Special kitchen features. Sometimes a kitchen needs that one special element that takes it from a useful space to a vital one. Here, a dining table on casters allows various seating arrangements for casual family meals and large parties with friends.
18. Sunrooms. A sunroom is a top dream space for many homeowners. Even those who don’t have the luxury of having or adding one are finding ways to carve out a special sun-drenched corner in their homes.
19. Punched-up white kitchens. White kitchen walls and cabinets — and even countertops in many cases — is a trend that will continue for years to come. To avoid a too-sterile look, however, many designers and homeowners are learning to punch up an all-white space with smart, colorful details through tile, floor-to-ceiling bookcases, raw materials and more.
20. Bold powder room wall coverings. Dramatic wall coverings in powder rooms are nothing new, but the options for dazzling prints, textures and custom graphics are ever increasing. Here, Black Quilted Lacquer wallpaper by Phillip Jeffries steals the show.
21. Mixing modern materials in the kitchen. Looking for something livelier than white cabinets and granite countertops in your kitchen? Consider mixing several modern materials, finishes and colors. Here, butcher block countertops get broken up with soapstone near the stove and Carrara marble on a nearby baking station. These mix with olive-green cabinets and stainless steel appliances for an eclectic, sophisticated look.
22. Attention-seeking bedrooms. A can of paint will certainly transform the look and feel of a bedroom, but to take the sanctuary to the next level, you’re going to need bolder ideas. Here, a rustic wood wall and ceiling feature warms up the otherwise contemporary room.
23. Bathrooms that feel more like living spaces. Graphic wallpaper, ornate chandeliers and furniture-like pieces turn sterile spaces into ones that feel a lot more like home.
24. Fireplaces and fire features. New advances mean you can have the ambience without the smell, pollution or hassle of traditional wood-burning fireplaces. Plus, fireplaces are making a comeback as living room focal points in lieu of the dark void of a TV screen.
25. Farmhouse entryways. Stripping away the need for fancy flourishes or decor for decor’s sake, farmhouse style gets at the root of function. That’s why the style makes sense for mudrooms, where simplicity in storage and durability in materials are paramount.
1131 Cherry Avenue NE
Offered at $798,000
Bainbridge Island, WA 98110
Traditional craftsman-style home in a fabulous in-town location near schools, ferry, shopping and Wing Point Golf Club. Bright and cheerful featuring sunny western exposure overlooking multiple fairways. Amenities include a welcoming foyer and cozy den, open living/dining, fantastic updated eat-in kitchen and great room with French doors to spacious deck, perfect for year round entertaining!
Luxurious master bedroom and bath, 2 more bedrooms and guest bath an abundance of storage throughout. Detached 2-car garage with room for golf cart all located on a select lot On the Green featuring all day sun and across from protected open space. NWMLS #877179