Vuecrest, one of West Bellevue's hottest neighborhoods, has had a big run in its values over the last ten years. Even with the recent market correction, homes here have easily doubled in value and held onto those gains. The reasons are clear: the views here are among the best in West Bellevue, it is a cohesive well maintained neighborhood, is walking distance to downtown, has a defined border, with entrances from three major streets, all underground utilities, and there are strict deed restrictions protecting the character of the neighborhood, and views to the Seattle skyline, Lake Washington, and the Olympic Mountains to the west, and downtown Bellevue and the sunrise to the east.
This sunset photo was taken November 28th from Hilltop Road at the very top of the neighborhood, and the City photo below was taken from Belfair Road.
When spec new construction has nearly ceased altogether in West Bellevue, after our nation's credit crisis, Vuecrest is the only neighborhood where obsolete homes are still being purchased and torn down to make room for new construction.
The builder that has done more spec building in the luxury class than any other here, with new sites that have recently been cleared, is Lochwood Lozier Custom Homes. They have continued to expand on their theme of custom designed luxury homes of substantial size and enduring character, and they appear to be meeting their objectives. All their homes in Vuecrest have sold, they have presales available now.
Vuecrest has 204 homes in all, developed in 1947 when there was no requirement for sidewalks. Lot sizes average about 12,000 square feet. Encircling the neighborhood are streets with names like Vineyard Crest, Evergreen Drive, Hilltop Road, Belfair Lane, and Sunset Way. taking full advantage of the available views. For those of us who have grown up in this area, the neighborhood still maintains its charm, and the location has only gotten better as downtown has undergone an enormous building boom in recent years. Currently there are 8 homes listed in Vuecrest, ranging in value from $900,000 to over $3.5 million. The 8 most recent sales averaged $1,255,000. Three of those sale were under a million, and the highest sale was $1,850,000.