Brazen SIR Invited To Participate In National Podcast Episode
This past week, Seth Tagge, one of our own sales agents, was invited to participate in a podcast interview to discuss our local market. The podcast is a project by the Sotheby’s International Realty affiliate in Louisville, Ky, and they like to compare and contrast different markets. Here are a few key takeaways from the conversation, which you can listen to by using the player embedded in this post, or you can read the full transcript by visiting this episode on the Lenihan Sotheby’s International Realty website.
What does $1 million buy in Bellevue, WA?
Bellevue is a suburb 15 minutes from Seattle – just over the world’s largest floating bridge (over Lake Washington). Don’t be fooled, though; there’s nothing “second-tier” about this suburb. Bellevue, in fact, has its own downtown core and is, statistically, the fifth-largest city in Washington State.
When discussing Bellevue with people who don’t know the area, Tagge breaks down the market into three sections:
West Bellevue – If you want “the best of the best,” you’re looking for real estate down on the water, closest to Seattle, where a million dollars will buy you dirt or a tear-down, but not much else. “Bill Gates has a home in West Bellevue,” Tagge explains, to put things into further perspective. The homes on Lake Washington represent “some of the best prime real estate in the world,” he adds.
Downtown Bellevue – People looking for cool two-bedroom condos with awesome views of Mount Rainier and Lake Washington can find it for a million dollars in the downtown section.
East Bellevue – Heading east across the 405, you can find a nice single-family home with about 3,000 square feet of space, beautifully maintained, selling for a million.
How many million-dollar-and-up properties are sale at a given time?
The average price point in Bellevue is $991,000. Just like any other market in America, the Bellevue market is short on inventory. There are 150 properties exceeding one million dollars on the market currently – including a crazy $32 million compound on the shores of Lake Washington. Last year, Bellevue saw over $450 million in sales.
Who are the major employers in Bellevue, WA?
You can think of Bellevue as “the Silicon Valley of Seattle.” Seattle has all the Fortune 500 like Amazon, Nordstrom, Starbucks and Costco – but all the executives live in Bellevue. In the downtown core of Bellevue, there’s Microsoft, Eddie Bauer, Expedia, Packard, T-Mobile, and gaming companies like Bungee.
Why should people consider buying a home in Bellevue?
As a “small town boy,” Tagge loves the community feel within the urban environment of Bellevue. “It has world-class shopping, great restaurants, infrastructure, but it’s not as hectic as Seattle,” he explains, adding that Bellevue’s nickname is “the City in the Park.” Here you’ll find a community of people that is diverse and educated, but also very giving. It’s a great location to settle in, whether you want to enjoy a Seahawks game, visit the Needle, raise a family, or grow with a budding corporation. “We don’t have as good of bourbon,” Tagge admits, “but we have good wine.”