Stock prices around the world tumble despite bank bail-outs in the US and abroad. Fears of slower global economic growth are creating a crisis and investors don’t seem to have high confidence in the ability of legislators to stem the tide. Currently the Dow is hovering around where it was in 2004. From BBC News:
This was despite a $700bn (£398bn) US bank bail-out being passed late last week, and efforts by several European countries including Germany and Denmark to boost confidence in their banks.
“The fact is people are scared and the only thing they’re doing is selling,” said Ryan Detrick, senior technical strategist at Schaeffer’s Investment Research.
“Investors are cleaning out portfolios and getting rid of everything because nothing seems to be working.”
London’s FTSE 100 index down 7.85%
Germany’s Dax index down7.39%
France’s Cac-40 index down9.04%
Wall Street’s Dow Jones index down4.05%
Japan’s Nikkei index down 4.3%
Indonesian market down 10%
Brazil market down 10%
Russia market down 15%. Russia’s RTS index down 19.1%
With home prices down and stock prices down, the only upshot is that oil prices are down too! Hurray!
The latest Forbes.com ranking lists Seattle as one of the toughest markets to sell a home in. According to Forbes,
“… in cities like Seattle, Jacksonville, Fla., and St. Louis–the hardest major cities in which to sell a home–even sellers who have substantially lowered their prices aren’t finding it easy to move their houses.”
So even while Seattle prices haven’t dipped here as much as elsewhere, folks still aren’t able to move their homes in a timely manner. Our slow market means trouble for people that have to sell right now, for whatever reason. Those hoping to sell their home to stave off foreclosure may not have enough time to make a deal before the bank comes knocking.
I wonder what will revitalize our market? Further price declines? A rise in consumer confidence? A new administration? My guess–there is no one solution and certainly no quick fix. We’re in it deep and it’s going to take time to dig out. (And I’m an optimist!?!)
Look outside and you’ll know-autumn has arrived in all of its glory. The brilliant colors of falling leaves, the distinctive chill in the air, and yes, the very first power outages of the season (for some of us) have arrived. What better way to start the weekend than with a cup of hot coffee and a fresh donut?!
So we headed off toward a brand new eatery, which opened up not more than two months ago in downtown Bellevue–Top Pot Doughnuts. Yum! What was once only convenient to those on the Seattle side of the bridge, this new Bellevue location allows Eastsiders to get a taste of downtown, while still being able to park your car. Over a steaming cup of coffee, we sampled an assortment of “o-shaped” delights–my favorite clearly the Rasberry Glazed Ring, the perfect way to start off the day.
I love this new found discovery, though honestly not so much for the donuts, but for its sophistication and ambience. It’s an upscale eatery on the Eastside, where you can gather for a lazy weekend breakfast or for a late afternoon chat session. I could get used to living like this and one day I can clearly see myself migrating back toward the city center, where top notch coffee and sophisticated, late night dinners are all within walking distance.
Sigh.
I love Bellevue.
I could picture myself in any one of these mighty fine downtown digs, all listed for under $1 million.
Never mind the weather. Sure, it’s been sunny and beautiful for the past few weeks (with some cloudy periods), but it’s fall now and there’s nothing you can do about it. Head out to West Seattle anyway and check out some of the open houses this weekend. Here are a couple of them.
This first one is a townhouse that’s been for sale for a little more than a month. It has 3 bed, 2.5 bath, 1,920 sf, and the asking price is $615K. The location is in an upscale neighborhood that’s close to everything at California and Admiral, and you’d be surrounded by other nice craftsman-era houses. Not to mention a short walk to Hamilton Viewpoint park, the Elliot Bay Water Taxi, and Alki Beach. This house is open from 1-4 Sunday.
The arrangement of this group of townhouses stands out from most others in the area because of the small courtyard in the middle, instead of a large block of townhouses stuck together with an alley behind them. The grounds, from what I’ve seen in the past, are kept up pretty well. This is the next best thing to owning a single family home.
This other house stands out primarily because of its price: it has come down almost 20% (from $765K to $620K) since May.
It has 4 beds, 3.5 baths, 3,100 sf, and it’s in a good location. You would be within walking distance of Hiawatha Playfield without being so close that you would have to deal with all the foot and vehicle traffic.
It also has some nice views and a good-sized backyard. If you’re in the area, check it out Sunday from 12-2.
Greenlake Starbucks. After a quick walk or run at the lake you can head over to the local coffee shops and grab a hot java. We particularly like the Starbucks at Greenlake for it’s oversized comfy couches, people watching and relaxing atmosphere.
Favorite Restaurant in the Area:
Duke’s Chowder house their chowder is wonderful
Bluewater Grill- nice happening place for dinner or cocktails
Cougar Mountain Cafe- the best organic/natural cuisine with breakfast served till 4PM everyday and they are kid friendly
Zeeks Pizza for a quick slice of superb pizza on a crisp fall afternoon
Rosita’s- best Mexican food in the area
Favorite Places to Go:
Greenlake (of course) for biking-walking-boating-swimming,taking in a show at the Bathhouse theater or just lounging
Golden Gardens for a beautiful sunset or to watch some kite surfers
Greenwood market-great local produce and huge selection or organic foods
Oaktree Cinemas- 5 minute drive or 10 minute walk to catch a movie, can’t beat that. Best Features of the Home:
This home is super cozy and bright even on the rainiest Seattle day. The triangular spa tub in the master is pure bliss after a hard day at the office or a long workout at the gym. The yard is amazing, it’s large enough for kids, dogs or adults to have plenty of space to run and play.
Favorite Room:
The living room is one of our rooms mostly because of the convenience of a gas fireplace. You just flip the switch and instant heat circulates the living room. It’s very nice to watch the morning or evening news while relaxing on the couch with a toasty fire flickering softly in the distance.
Most Romantic Spot:
We would have to say the Master bedroom/bath. It’s private and inviting and a great place to unwind after a long hard day.
What’s in the neighborhood?:
Great restaurants, entertainment to include various theaters and local events. Lot’s of places to exercise and get moving within. This home is centrally located with easy access to both I-5 and I-99 so if you work in the city you won’t have any problems with commuting.
What you will miss most:
Firstly, we would say the yard. We lived in this home with two small children and had a lot of great times playing in that yard especially in the pool (yes we had a large pool in the backyard at one point). You just don’t get large private yards in the city anymore for this price. In most homes in the city you have 2 or 3 neighbors who can look out their windows at what you are doing, this yard is very private.
We will also miss the convenience of the upkeep of the home, everything was just so easy. From cleaning to storage, we never had a problem keeping things in their place.
One other thing we will miss is the heating bill. Yes, it was always low because of the high efficiency gas furnace and also the gas fireplace. You really can’t go wrong heating wise in this sized home as it is far cheaper to heat than a large home with electric heat or even a town home with it’s multiple levels.
Early on the weekends we’ll head to Tully’s at Alki Beach. If we’re on the run we’ll hit the Starbucks drive-through up the hill. The rest of the time we’ll walk to Uptown Espresso or Java Bean.
Favorite Restaurants in the Area:
Spiro’s Pizza is usually our first choice. For breakfast or if we’re just in the mood for “the best milkshake in Seattle”, we’ll walk down the street to Luna Park Café. The rest of the time, depending on our mood, we’ll hit the Junction or Alki: Elliott Bay Brewery for burgers and beer, Mashiko for sushi, Husky Deli for ice cream, Coyotes for Mexican, or Spud’s for fish and chips.
Favorite Places to Go:
Lincoln Park is great for jogging by the water and is home to the saltwater Colman Pool. Our house overlooks the 13th green of the West Seattle golf course. It’s got some of the best views of any municipal course. We catch late-run movies up the hill at the Admiral Theater. When we’re in a shopping mood we usually pop down to Westwood Village or Burien. There are also a number of bus lines that can get us to Pike Place Market or Pioneer Square in just a few minutes.
Best Features of the Home:
We love all of the accents this home has. Clear fir trim, granite counter tops, stainless appliances, and gas fireplace and stove. Also rare for town homes in Seattle is a two car garage with a very wide drive way.
Has there been any remodeling since you purchased the home?:
This house is still pretty new, so it hasn’t needed much work. We added a garden and patio area that’s perfect for grilling and lounging on a nice day. On the inside, we repainted and we recoated the hardwoods.
Favorite Room:
The great room on the main level of the house is our favorite. The kitchen, dining room, and family room all kind of merge into a single space. It’s the perfect space for entertaining or just watching TV while you’re making dinner.
Most Romantic Spot:
The northern entrance to the Longfellow Creek Legacy Trail is steps away. It’s great in the evenings to walk through the Dragonfly Pavilion and Salmon Bone Bridge, past the creek, and through the woods. You almost forget you’re still in the city.
What’s in the neighborhood?:
It’s a mix of newer town homes and older homes with a lot of younger families and great neighbors. Allstar Fitness is a great fitness club three blocks away. The West Seattle Golf Course, Delridge Community Center, and Youngstown Cultural Arts Center are directly to the south. Alki Beach and the Admiral District are to the north. Coffee shops and restaurants are a short walk or drive away.
What you will miss most:
We’ll miss the convenience of this neighborhood. The West Seattle Bridge is a minute or two drive to the north, and we can usually get to work downtown in less than 15 minutes. There are bus lines blocks away on either side of us. There are a lot of great restaurants close by, and we loved being able to walk over to Allstar fitness for a workout anytime of the day. West Seattle is great because you’re so close to downtown, yet you feel like you’re in a different city. It was the perfect place for our young family.
Cafe Lago (best pizza in town), Volunteer Park Cafe, Agua Verde, Cactus, Thai Ginger
Favorite Places to Go:
Arboretum, Montlake Library, Lake Washington, University of Washington, Husky Stadium, Volunteer Park, Cafe Lago, Waterfront Trail, MOHAI, Madison Park, Capitol Hill, U Village.
Best Features of the Home:
The new gourmet kitchen features dark hardwoods, white cabinets, black stone counters and high end appliances including a Liebherr refrigerator, a Bosch dishwasher, a Viking stove, a Faber hood and a farmhouse sink. The kitchen opens to the family room creating an ideal family/entertaining space. The house has beautiful, dark hardwood floors in every room, unpainted mahogany trim, and a Southern exposure with tons of windows. With four bedrooms (three up) and 2 1/2 baths there is plenty of room for everyone. The house sits above the street on a corner lot with a view of the Arboretum and Lake Washington one block way. Easy access to 520 and the Eastside makes commuting a breeze. Other features include a new roof and gutters, the original tile fireplace, the newly installed ADT security system and a fenced back yard with patio perfect for entertaining.
Has there been any remodeling since you purchased the home?:
We completely tore out and remodeled the kitchen including opening the wall to the family room (see above). We added newly refinished espresso hardwood floors throughout the entire house and new wool carpeting in the basement. New paint and all light fixtures have been upgraded. New roof and gutters and new ADT security system installed.
Favorite Room:
Our newly renovated kitchen is the heart of our house. The eat in table and pennisula provide ample seating for the whole family while preparing meals, working on the computer and doing homework. The open floor plan provides the perfect space to hang out with friends and family to watch movies, listen to music and play games. This seamless living space allows us to enjoy old house character and modern lifestyle conveniences.
Most Romantic Spot:
Our favorite thing to do on the weekend is to grab a coffee at Fuel and walk down to the water. The Waterfront Trail loop over Foster Island and through the Arboretum offers several fantastic spots to sit and watch the boats, view the mountains, feed the ducks and experience the flora of the season.
What’s in the neighborhood?:
See above–restaurants, coffee shops, and parks galore. Bike shop. Grocery store. Excellent elementary school. Library. Museum. University.
What you will miss most:
Neighbors and friends. And the fantastic parks and open spaces.
You’ve got a few good picks this weekend in the Central District/west Madrona area, all for less than $230/square foot. If you want to visit, more’s the better; this quartet of sweet digs are open for a little look-see this weekend.
410 14th Ave.
OPEN: Sun., 1 to 4 p.m. Price: $438,500 Specs: 3 bd/2 bath Size: 1,920 square feet This close-in, classic Craftsman boast a basement guest apartment — perfect for a Seattle U student, perhaps — and great period details, including hardwoods and tulip glass windows.
502 21st Ave. #B OPEN: Sun., 1 to 4 p.m. Price: $445,000 Specs: 4 bd/2.5 bath Size: 2,157 square feet It’s a townhouse with all of today’s top conveniences: walk-in closets, granite countertops, and even bamboo floors.
502 21st Ave. #A OPEN: Sun., 1 to 4 p.m. Price: $449,900 Specs: 4 bd/2.5 bath Size: 2,157 square feet The above townhouse’s twin, though this one touts vaulted ceilings and southfacing balconies. 710 30th Ave. OPEN: Sun., 1 to 4 p.m. Price: $650,000 Specs: 3 bd/2 bath Size: 2,900 square feet Take a peek at this 1923 home, complete with city views and secret garden-style landscaping.
Stock prices around the world tumble despite bank bail-outs in the US and abroad. Fears of slower global economic growth are creating a crisis and investors don’t seem to have high confidence in the ability of legislators to stem the tide. Currently the Dow is hovering around where it was in 2004. From BBC News:
You’ve got a few good picks this weekend in the Central District/west Madrona area, all for less than $230/square foot. If you want to visit, more’s the better; this quartet of sweet digs are open for a little look-see this weekend.
