Eastside Price Reductions Trickle Down

“The fed fund rate is dropping!  The fed fund rate is dropping!” says CNNMoney.com.

After Fed makes emergency cut to fed funds rate, mortgage rates fell to 5.48% on a 30-year fixed and to 4.95% on 15-year fixed, hitting their lowest levels in almost 4 years.

Rates on 5 year ARMs are also down to 5.13%, while one-year Treasury-indexed ARMS averaged down to 4.99%.

 A cuts in interest rates should kick start at least a few buyers out there. Do these rate decreases do anything for you?

If so, you should take a look at this week’s list of Eastside Price Reductions. As always, price drops greater than $25,000 are included on this list. Not as many of these price reductions on the list this month. Could the market be creeping out of it’s gloom?

BELLEVUE 

2150 130th Pl SE
4 br/2.5 ba, 2,480 sq.ft.
Reduced $25,000 to $650,000
MLS 27157593

ISSAQUAH

960 Big Tree Dr NW
5 br/3.5 ba, 4,230 sq.ft.
Reduced  $85,635,000 to $865,000 (Yes, that is the actual reduction amount. Listing agent Gabriel Jones (pictured right), immediately after entering in the OLP of $86,500,000 <enter> D’oh!)
MLS 28013693

731 Lingering Pine Dr NW
4 br/4.5 ba, 4,420 sq.ft.
Reduced $40,000 to $1,020,000
MLS 27195293

124 Sky Ridge Rd NW #401
3 br/3 ba, 2,114 sq.ft.
Reduced $28,000 to $469,950
MLS 27132612

SAMMAMISH

20708 NE 5th Pl 
5 br/4.5 ba, 5,448 sq.ft.
Reduced $100,000 to $1,449,000
MLS 27078891

1218 207th Pl NE
3 br/1.75 ba, 970 sq.ft.
Reduced $15,000 to $349,950
MLS 27212518