Quanghoc, Home Buyer in Bellevue, WA

Why some area in Bellevue is cheaper?

Asked by Quanghoc, Bellevue, WA Wed Dec 8, 2010

For example, I look at houses around Cross Road area or Lake Hill, they are generally like 20K lower than other places (e.g Factoria). How do I find out the reason why? I searched around on stats but they are pretty much useless graph and not informative tips. I am looking for insights such as high crime, bad school,.. or something

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Quanghoc,
I grew up on the eastside and have spent lots of time in the various neighborhoods of Bellevue. Parts are older and were built as affordable homes where other parts around downtown especially are more upscale, quality builders. Some areas are known for views, proximity to primary shopping, easier commutes.
Bellevue is known for great schools, but some are more popular than others and this can drive prices up too. I've attached a great web link to check out schools from the State School Superintendant. It will allow you to isolate a district and then individual schools within the district and compare test scores and demographics.
I hope this was helpful.
1 vote Thank Flag Link Wed Dec 8, 2010
Try checking the rankings of the elementary school, middle school and high school. Often it is the elementary school ranking that creates the discount.

Two sites my clients use for this type of comparison are:

http://www.greatschools.org/

http://www.schooldigger.com/

This is not as true of the comparison of Factoria to Crossroads as it is to many areas of Bellevue compared to Lake Hills. If you check out the rankings in those links, I think the issue will be very obvious.

This is not the sole reason for price differences of all homes...but a good place to find some data that may partially help clear up any confusion you may have.

Another thing to do is look up the properties on the King County Parcel viewer and compare the land values of two homes separately from the value of the improvement on the land. That will also highlight if the price difference is about the type or quality of the home, or the site considerations.
1 vote Thank Flag Link Wed Dec 8, 2010
I think you have some very good answers below, but to answer your question specifically regarding the difference to Crossroads area and Factoria I believe one of the most obvious reasons for the difference in price is the access to the freeways. You can easily get to 1-90 and 405 from Factoria, so if you wish to live in Seattle its a much easier commute. Ease to freeways and access to highways definitely affects the price of neighborhoods since the demand to live in them is higher and the supply is less.
I hope this helps.
0 votes Thank Flag Link Thu Apr 28, 2011
One of the great things about the Eastside is the diversity of neighborhood, price points and ammenities of the area. From Lake Washington or Lake Sammamish waterfront and views, to highrises in downtown Bellevue to great older and new neighborhoods. I agree with most that it is all about location that you should determine your budget and then explore different areas to see how that are meets your needs.

Work with a good local agent that knows the Bellevue neighborhoods to help you navigate the area and the market.
0 votes Thank Flag Link Wed Apr 27, 2011
Location, Location, Location. There are many different Bellevue neighborhoods, so much of that depends on where you look. Being near Crossroads is not the same as being in The Bridal Trails, or having a view of Lake Washington as opposed to hearing the constant noise from I-90 or I-405.

A good local agent should be able to guide you in your search.
0 votes Thank Flag Link Wed Dec 8, 2010
You have already 3 very good answers below. Bottom line is, there are usually a number of factors that are quantifiable, like those stated below, along with a number of factors that are not. After all, perception is sometimes more important then reality. My suggestion is to find a house you can afford in a neighborhood you like, and don't worry about it so much.
0 votes Thank Flag Link Wed Dec 8, 2010
Quanghoc
As Ardell and Tonya have stated it is very common for neighborhoods within a City zoning to vary in
price either by a small or large amount. As an example Totem Lake of Kirkland is considerably less
expensive than Downtown Kirkland. Sometimes it is the schools but most like it is proximity to amenities,
land values, age &style of homes, appeal of one very well kept neighborhood over another less appealing
area and as you stated it may be crime, general look of neighborhood (well kept properties versus areas where owners are less concerned). To find out which neighborhoods best suit your needs and budget I would strongly suggest you retain the services of an agent to help you. Buyers and sellers determine the prices of any given area. More desirable areas command a higher price because more buyers want to live there. You can look on school sites for school scores and what programs they offer but I suggest a visit to the schools in areas that most interest you and talking to parents whose children attend those schools is a great way to see if that particular school best meets your needs. Either before or after school at almost all schools you will find many parents dropping off or picking up their children. I hope this helps you in your search. There are many good buyer agents that can assist you. Interview 2 or 3 and see which agent you feel most comfortable with and best meets your needs. Purchasing a home is usually the biggest investment we will make and doing research, as you are, is a very good idea.
Mary
0 votes Thank Flag Link Wed Dec 8, 2010
Prices in any town can flucuate and most likely do based on the neighborhood. Bellevue, Seattle, Redmond especially. You are talking about a large city with all different neighborhoods, builds, amenities, views, freeway access, noise nuisance and many other factors.
0 votes Thank Flag Link Wed Dec 8, 2010
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