Archive for the ‘General’ Category
October 10, 2008
It’s gong to be a lovely Fall weekend here in Seattle. Consider a stroll on Capitol Hill to take in the Fall colors and tour a home or two. There are several open houses this weekend, with styles ranging from condos, to townhomes, to traditional single family homes.
1715 18th Ave #B Seattle, WA 98122 Price: $559,500
3 Bedrooms, 3.5 Baths, 1,505 sq. ft. Townhome
1812 16th Ave #3 Seattle, WA 98122 Price: $399,950
2 Bedrooms, 2 Baths, Condo
1812 16th Ave #1 Seattle, WA 98122 Price: $349,950
2 Bedrooms, 1 Bath Condo
1501 E Denny Way Seattle, WA 98122 Price: $655,000
2 Bedrooms, 2.5 Baths, 1, 539 sq. ft. Townhome
923 13th Ave E Seattle, WA 98102 Price: $949,950
3 Bedrooms, 1.75 Baths, 2,480 sq. ft. Single Family Residence
941 Broadway Ave E Seattle, WA 98102 Price: $995,000
3 Bedrooms, 2.5 Baths, Single Family Residence
416 11th Ave E Seattle, WA 98102 Price: $459,900
3 Bedrooms, 2.25 Baths, 1,435 sq. ft. Townhome
October 8, 2008
How much would you be willing to pay for more yard space–an extra $350,000? Where Capitol Hill and the Arboretum meet in Seattle, two listings next door to one another may help answer that question. The 4 bedroom, 2 bath homes are mostly similar, but for lot size: one boasts a 10,000 sq. ft. lot compared to the 4,000 sq. ft. lot of its neighbor.
Beyond lot size, other differences include a detached garage and more square footage for one. (Based on the listing images though, I’m having a difficult time seeing how one can be so much bigger than the other–basement sq. footage maybe?) Still though, the basics most families are concerned with, the number of bedrooms and bathrooms, match. Otherwise, both homes are recent renovations with high-end upgrades and expansive mountain views. Most folks would be proud to live in either place.
2501 E Ward St is priced at $999,990, down from the original listing of $1,099,990. Its neighbor, 2509 E Ward St, is priced at $649,000, down from the original listing of $719,000. I can’t help but wonder if that extra lot (the listing info calls it 2.5 lots) is worth the money. True, you may be able to subdivide the lot in the future for some extra income; but for day-to-day living is a big yard worth an extra $350,000 to the typical home buyer?
For me, the answer is not so much. I’d take the cheaper home. If I had the budget for the more expensive home, I’d be looking on the other side of 24th Ave.—on Capitol Hill proper. Still though, gotta love those views.
October 8, 2008
Despite the all out economic free fall that we are in, every once in a while, there’s a spot of good news. Nationally, pending home sales increased 7.4% from July to August, according to the National Association of Realtors (NAR). Furthermore, the NAR projects sales of existing homes to rise next year in addition to a 2-3% increase in home prices. Locally, the NWMLS reports Pending Sales up 4.1% from Year Ago, Total Inventory Unchanged, while Seattle Bubble recaps King County SFH pendings to be up 15% from same time last year.
Thank you also, readers, for giving some hope. Last week, I asked whether or not homesellers out there are continuing to see action, either in actual offers and sales or even in plain, old, walk through traffic. Well, I’m encouraged to hear that some of you report recent sales, and it doesn’t even scare me that most of you mention the words “price drops” in the same breath. Hey, I understand basic economics–heck, lower your price enough, and anything will sell.
However, this has me wondering even more about exactly how much of an impact does a price drop make in attracting buyers. In what seems like an economic eternity ago, I asked sellers, Is a Low Ball Better Than a No Ball? Today, I pose the flip side of this question to buyers–would the listing price of a home actually prevent you from making an offer? I’m speaking within reason, of course, but for the purposes of this hypothetical, would a listing price prevent you from making an offer 5% below? 10% below? Or do you really need to see that price drop before you’ll make the offer?
October 6, 2008
Urban myth or landlord nightmare? Judge for yourself.
The latest real estate fodder making its way around the net is “Buy My Dump - I’m selling my trashed dirty apartment - world’s most disgusting flat,” a Houston rental property, supposedly gone very, very, very wrong. The property owner cites:
Basically I was underinsured and my insurer will NOT pay for the tenant damage. I’m pretty jaded by the whole thing but I want to just walk away from it. Problem is it has a mortgage over it so I need it sold. A savvy Houston area investor could pick up a bargain. The place should be worth around $80,000 any figure that would clear my mortgage could very well land you this place. Serious bidders can email me at buymydump@gmail.com for an address, plans, rental figures and repair estimates.
…
The pictures do NO justice. There is suppose to be 2 cats living here but I can’t find them (I think they’re dead somewhere inside the apartment-I contacted the SPCA). The place REEKS to say the least, I gagged non stop. If you’re good with a scrubbing brush this could be bargain of the century for you…
The owner claims that the property is worth about $80,000, and the highest current bid is at $38,900. Keep your gag reflex in check and view more photos of this property here.
What’s your take on this one, digital image detectives? Real homeowner in distress, or savvy-viral-web-mythmaker-who-knows-how-to-monetize-a-site-with-Google-AdSense in disguise?
October 6, 2008
Recent posts on Sweet Digs Seattle:
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 down 7.39%
- France’s Cac-40 index down 9.04%
- Wall Street’s Dow Jones index down 4.05%
- 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!
October 6, 2008
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!?!)
October 4, 2008
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.
October 3, 2008
Open House Date and Time:
Saturday & Sunday, Oct. 4th & 5th, 1-4pm
2512 E Roanoke St
Seattle, WA 98112
Seller Comments
Coffee Shop of Choice:
Fuel Coffee. Quirky and yummy.
Favorite Restaurant in the Area:
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.
October 3, 2008
The Lakeview Residence–5 new condos with great views on NE Capitol Hill priced from $1,072,000 - $1,128,000
The Trace–Several new studio, 1 & 2 bedroom condos at 12th and
Madison on Capitol Hill priced from $230,000 - $850,000
1715 18th Ave #B Seattle, WA 98122–A townhome with 3 bedrooms and 3.5 baths offered at $559,500
October 3, 2008
1.) 17077 Parkside Way SE, Renton $395,500
Open Sunday, October 5th, 1-4pm
2.) 508 NW 60th St, Seattle $549,900
Open Sunday, October 5th, 1-4pm
3.) 7307 Sand Point Way NE #613, Seattle $279,500
Open Sunday, October 5th, 1-4pm
4.) 1705 224 Ct NE, Sammamish $599,500
Open Sunday, October 5th, 1-4pm
