Arena Deal Under Seattle City Council Scrutiny

Posted on May 17, 2012 by ktiernan

Seattle City Council’s Top Dogs announced yesterday that they settled an agreement with Chris Hansen, hedge fund manager, to build a $490 million dollar sports arena in Sodo, and sent the proposal off to their individual councils to mull over and decide if the arena’s financial plans are feasible, and if the added traffic will affect Sodo’s industrial area. Seattle Mayor Mike McGinn and King County Executive Dow Constantine came out of the meeting with a positive outlook, with protection for taxpayers and a $800 million ballpark in private investments from Hansen and his investment group, ArenaCo. $290 million of the donations will go towards arena construction, and roughly $500 million will go to purchasing a National Basketball Association team; investors also hope the arena will attract a National Hockey League in the near future.

Seattle investor Chris Hansen & Mayor Mike McGinn Shake on it; Photo Couresty of the Seattle Pi

According to the Seattle Times, this deal could mark one of the largest private capital deals for a project like this in North America. While the arena has been widely accepted as a plausible deal for the city of Seattle, the memorandum of understanding (MOU) will now go to the city and city councils, whose members have openly voiced concerns for traffic congestion in the area’s already bustling sodo district, and loose financial plan. For more information regarding arena construction updates, follow the Seattle Times.

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Holland Development Plans Huge High Rise on 9th & Pine

Posted on May 14, 2012 by ktiernan

If you’ve always dreamed of living in the highest high rise apartment building in Seattle you’re in luck…. Holland Development is planning the construction for your new humble abode right now! According to a report today in the Seattle Daily Journal of Commerce,  Holland is preparing to start construction on what will soon be noted as Seattle’s tallest apartment tower. The building will sit on the Southwest corner of 9th & Pine just West of the Paramount Theater and will stand nearly 40 feet taller than the nearby Aspira building. The building is planned to be 440 feet tall, with 386 units and 269 parking stalls. While this might seem like a hefty project for Holland Development by itself, they also have 6 other projects in the works and will be responsible for putting 1,400 new apartment units downtown. For more information on the project please visit the Daily Journal of Commerce.

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Buying a Home Might Not Get Much Cheaper

Posted on May 8, 2012 by ktiernan

Many renters today are choosing to put off buying a home for several reasons, statistics show that buying a home might not get any cheaper than it is right now. Experts say that 2012 may bet the last year for buyers to take advantage of the weak housing market and foreclosure influx. According to CNN Money, home prices are down 34% Nationally from 2006, and mortgage rates are at an all time low, making it the best year yet to find the bargain deal of a lifetime.

Economists with PNC Financial Services believe that home prices will flatten out by the third quarter of this year, and might begin to climb at the beginning of next year. There are several indicators that the housing market is picking up like the decline in foreclosures, and continued job growth nationwide, and buyers will have more access to affordable mortgages as they build their credit scores. While some prospective buyers who have been wary might be more willing to follow through because of the all-time low mortgage rates and lower home values, some renters still aren’t in a position to take the next step and will ultimately miss the grace period. For more information on the housing market, click here.

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Survey Shows Renters More Optimistic About Buying

Posted on May 7, 2012 by ktiernan

Renters in today’s market may have seen the value of their parent’s homes sky rocket, then deplete, or they most likely know someone who’s home is up for foreclosure. According to a survey done by the PulteGroup, The hope of home ownership is still in the air for many who rent and want to buy. Survey results showed that 60% of renters who said they would like to buy a home in the future have increased their intent to buy a home in comparison to a year ago. 61% of those folks also said they planned to purchase a home within the next two years.

When asked if they thought buying a home was a good investment, 44% of those poled said yes. According to Builderonline.com, the PulteGroup’s responded to the overall survey results with “We are seeing a renewed sense of optimism, especially from young professionals and young families visiting our communities nationwide,” Deborah Meyer, PulteGroup senior vice president. Many factors went into this survey and interestingly enough the pole also found that just over 1/4 of those poled believe that renting is cheaper than buying, and a little shy of a quarter are still worried about a stable job. For more information on Rentals and For Sale listings in the area, visit Craistlist.

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Home Prices in King County on the Rise!

Posted on May 4, 2012 by ktiernan

For the first time in a very long time, home prices in King County rose last month, and have increased significantly in the Seattle city limits. According to the Seattle Pi, the median sale price was $360,000 countrywide in April and was $425,000 in Seattle. Rates have risen 2.9% nationwide, and 10.4% in Seattle alone. There’s something to be said for the Northwest after all.

Of course, there are still areas within King County that aren’t seeing the same increase that Seattle is, such as South King County where activity was simply OK. Lender owned homes, which generally sell for less went up this month as well, and overall sales of homes and condos were up in Seattle, and nationwide 19.2%.  Pending sales in our city have risen, indicating an increase in activity even though some of these don’t always close. It’s very promising that although the prices of homes are continually on the rise in Seattle and the surrounding King County areas, sales are just as high as ever. For listings in the Seattle area, click here.

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Capitol Hill Home For Sale: $1,275,000

Posted on May 2, 2012 by ktiernan

This beautifully restored Capitol Hill home is newly on the market, and sits directly across from Volunteer Park. The lovely designed home has been featured in Seattle Homes & other local magazines, for it’s fine craftsmanship, and beautiful mill work, with beamed ceilings and built-ins. The expansive kitchen gets a hearty amount of natural sunlight, with top of the line appliances and finishes. The master bathroom is enormous, as is the closet, and the 3rd floor even has a media room for entertainment! If you’d like more information on this wonderful Capitol treasure, with 4 bedrooms, and 2.75 baths click here.

Status: For Sale
Bed/Bath: 4/2.75
List Price: $1,275,000
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Seattle May Day Protesters Leave Their Mark on the City

Posted on May 1, 2012 by ktiernan

When you stepped outside for lunch and saw the sun peeking out of the clouds on this lovely 1st day of May, you probably didn’t think you’d be tuning into NPR and hearing about how the “Black Bloc” protesters were already tearing apart the Seattle City limits. Around 11:50am peaceful protesters migrated from Seattle Central

Photo of areas affected by the Protestors of May Day in Seattle, Courtesy of the Seattle Times

Community College to Westlake Center to join the demonstrations taking place in the square such as a concert put on by Hiphop Occupy Seattle. Less than an hour later approximately 300 people  including the “Black Bloc” folks armed with sticks, wooden riot batons and other makeshift weapons marched from the park west on  Pike Street then south on Third Avenue. They began jumping on cars and sprawling out across the streets and causing significant property damage to retail spaces like Starbucks, Nordstrom, Niketown, and many other businesses. They did extensive damage to the 9th district court house and Wells Fargo Bank on 3rd Avenue. Officers were able to get to the crowds and an unknown number of arrests were made after these damages.

According to the Seattle Times, Nike has release a statement: “Nike supports free and peaceful protests. We do not condone violence. Fortunately, no one was injured at Niketown Seattle. We will re-open the store as quickly as possible.”

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Zillow Reports Rentals Continue to Outshine Housing Market

Posted on April 30, 2012 by ktiernan

According to Zillow’s Real Estate Market Report in February, the median price in rent had risen 2% since February 2011, and home values had continued to fall, dropping 4.5% during the same time period. Zillow’s Rent Index illustrated that the year over year gains for an estimated 68% of metropolitan markets measured by the ZRI, and only 8% of metro areas covered by the Zillow Home Value Indexsaw home values rise.

Seattle Rental In Leschi Neighborhood

Today’s rental market is continuing to heat up, with an emphasis on areas where home values have consistently been declining. Foreclosures have been at the forefront in keeping home values down, with foreclosure re-sales making up an  estimated 20.3% of all sales in the month of February. Zillow experts have said that we’ve made it through the worst of the housing market recession, but with the enormous inventory of foreclosures and unemployment are all still factors to overcome on the rise to recovery. For more information on rental listings in the Seattle area, visit Ewing & Clark and Craigslist.

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Construction Scheduled for Mercer Street Next Week

Posted on April 27, 2012 by ktiernan

This week the Seattle Department of Transportation issued a statement indicating that there will be nighttime lane closures for the East end of the Mercer project beginning next week. Drivers can expect delays starting Monday evening, and here is the scoop on whats happening:

One Northbound turn lane  onto Fairview Ave N will shut down at 8PM Monday April 20th, and Crews will work through the night until 6:00am Tuesday morning. The closure will give construction crews the opportunity to install an underground pipe across Valley Street at Boren Ave N.

On May 2-3 closures will happen between 9th Ave N and Westlake Ave N, ad westbound Broad st will be closed at night again, between 8:00pm-6:00am. Commuters traveling West on Valley street will be detoured North on Westlake to 8th Ave N then South on 9th Ave N to reconnect with Southbound Broad St. Be prepared for delays next week, and please find the full construction report here.

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Prime Madrona Real Estate For Sale

Posted on April 25, 2012 by Kristine Losh

Madrona HomeA gorgeous 1920′s Dutch Colonial on prime Madrona real estate with fantastic views of Lake Washington, Bellevue skyline, Mt Rainier & Cascades recently came on the market.  The completely remodeled Madrona home presents a modern, open floor plan, with pretty entry gardens and front porch open to the oak floors and crisp lines of the interior. Fir windows and doors, with two sets of French doors opening to spacious deck. Kitchen with impressive limestone island and high end appliances. Huge master bedroom suite fills the entire 2nd floor with two additional bedrooms in lower level.

Click the link to see more pictures, details and location of this fabulous Madrona home.

Status: For Sale
Bed/Bath: 3/2.25
List Price: $1,365,000
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