John Mix

Ernie Hayden


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2002-2003 THEME

Vol. 15, No. 36, March 3, 2003


Dick Conway
Dick Conway
Doug Pedersen
Doug Pedersen

The Puget Sound Real Estate Bubble: The Windermere Index

With a past presidential introduction by Past President Don Deasy, a pair of economists set out to set the record straight regarding a “bubble” in the Puget Sound Real Estate business. Commissioned to develop the Windermere Index, Dick Conway and Doug Pedersen have produced a quarterly index first published in the first quarter of 2002. Its purpose is to chart trends in residential real estate.

Doug Pedersen opened by explaining how the index was devised. “Windermere had expressed an interest in a report that would measure residential real estate activity in the Puget Sound region. They needed a single report framed around market conditions, easy to understand, and updated regularly. The Index approach was the model chosen to account for measuring real estate activity. Seasonally adjusted data allows comparisons from one issue to another and from year to year. We chose a quarterly index to express this data.” MORE

Powell, Barnes
Peter Powell makes sure Chuck Barnes knows what he’s doing.

Another Sapphire

The Rotary Foundation recognized another new member of the multiple Sapphire Club. BBRC Foundation Chairperson Chuck Barnes was “proud to present a triple sapphire (representing over $4,000 to Rotary’s Annual Fund) to Peter Powell.” Chuck was careful to watch out for Peter’s bad shoulder while putton on the new pin – and then gave him a hearty slap on the back when it was all over! Congratulations to Peter Powell for his dedication and perseverance as a supporter of the Rotary Foundation.

Out & About:
Community Activities of Note

  • The King County Library System Foundation's Literary Lions dinner will feature NPR host and author Scott Simon, honor Starbucks Foundation for its outstanding contributions to literacy, and introduce 30 popular local authors. The event will be held Saturday, March 15, at the Bellevue Regional Library and is a great opportunity to buy books and meet authors; proceeds support the Foundation's literacy programs. Reception, books, dinner, chef Tom Douglas signature dessert, coffee, champagne, chocolates, more books – and it's great fun to eat and drink in a library. For more information on individual tickets and table sponsors, contact Jeanne Thorsen, or visit and click on Literary Lions in the program headlines.
  • The annual Hopelink Auction to support the work that Hopelink does for the Eastside community takes place on March 8, at Seahawk Stadium. Auction items are in demand. And, the BBRC is planning a table at the auction. $75.00 per person. If you can participate in any way, please contact Chuck Barnes.

Thought for the Week

In honor of our program on Puget Sound Real Estate, from the Wizard of Oz: “There’s no place like home.” (Click, Click)


Moving into March, the Green Month! Don’t miss Friday’s meeting, featuring Fred Isaac of the Arboretum Foundation telling the story of the 230-acre treasure in the center of Seattle. Bring a guest or a potential  member! Breakfast buffet served at 7:00 a.m., meeting at 7:30, and program at 8:00. It all happens at the Glendale Country Club in Bellevue!

Time flies when you’re a busy and dedicated Rotarian. The calendar moves us into the final month of the 3rd quarter. If you haven’t covered your dues, a check to the BBRC at PO Box 3003, Bellevue WA 98009-3003 would be appreciated.

The BBRC continues to set attendance records under the baton of Kim Shrader. Kim vowed to build attendance to 80% or better. Going into four months of the year, the Club has compiled an 84.30% attendance record since July 1. Two months, February and October cracked 90%! Kudos to all members for keeping up their attendance, to the Retention Committee for keeping on those who need nudging and for timely reporting of make-ups to the Secretary/Club Administrator. You’re doing great!

Any member who needs a new badge to accommodate a 1) change of name or 2) change of classification should contact the Club Administrator to order a new one.

Adam and Eve had an ideal marriage. He didn't have to hear about all the men she could have married, and she didn't have to hear about the way his mother cooked.

And, as income tax time approaches, did you ever notice: When you put the two words “The” and “IRS”’ together, it spells “THEIRS”?

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