Significant Seattle Waterfront Sale

Seattle WaterfrontThe greater Madison Park area including Washington Park and Denny Blaine have maybe the most sought after waterfront homes in Seattle.  The lots are generally large and private and with the neighborhoods’ proximity to Downtown Seattle the location is very desirable.  In addition, waterfront lots between Madison Park Beach and Madrona Park Beach are rare – there are only about 50 Seattle waterfront homes between the two beaches (not including the condo buildings next to Madison Park Beach).

According to the Northwest Multiple Listing Service only five Seattle waterfront houses have sold since the beginning of 2009 between Madison Park Beach and Madrona Park Beach.  Just this month this idyllic Denny Blaine waterfront home became the 5th of these homes that sold.  The 7 bedroom home was last listed for $4,990,000.  A rare transaction where waterfront is not often available.

Cleveland’s Passive House

An Ohio based museum is holding an exhibit of a model home that can cut energy costs by 90%, thanks to amped up insulation, albeit higher construction costs.  The home, which is considered a “passive house” has 1 foot thick walls, triple-paned windows and heavy duty doors.  The Cleveland Museum of Natural History built the house with a specially developed insulation system including ductless pumps that supply heating and cooling to the home.  Moreover, the home’s interior furnishes are made from all-recycled materials and windows are strategically placed to take advantage of the sun’s seasonal patterns.  Homes like this have been built in Germany, where a standard “energy metric” is in place and manufacturers are already developing the necessary parts.  The “passive house” was constructed using imported parts from Germany. 

Organizers plan to move the home to a neighborhood and sell it in the fall. 

For more information, please refer to the Seattle Times article.

Seattle + Real Estate News-June 17th

Big time real estate company Equity Residential recently purchased the Moda Apartments of Belltown from developer HMI Real Estate Inc.  The apartment building sold for $45.5 million. 

The Red Lion Hotel located on 5th Avenue in Downtown Seattle sold this week for $71 million to Lowe Enterprises Investors.  LEI plans to renovate common areas and add 22 new rooms.

Mercer Island was recently named the 9th most expensive real estate market in the U.S. by Coldwell Banker Bain after completing a 6 month study.  The average price for a 4 bedroom, 2 bathroom home is $1,143,521.

Jones Soda Inc. is moving their headquarters to Pioneer Square at the end of Summer.  Their current headquarters is in South Lake Union.

Home Prices Rise Slighty in Seattle

Standard & Poor’s/Case-Shiller index for the month of February revealed that home prices rose in the Seattle area by .01% after nearly 7 months of monthly declines.  Although this small amount doesn’t compare to the 7.5% drops from a year ago, any increase is good.  The index measured home prices in 20 U.S. cities, and Seattle and Washington D.C. were the only ones to see any increase.  For more information, please read the article, courtesy of the Seattle Times.

Union Station Building Acquired

Principal Real Estate Investors and PCCP, LLC have partnered to purchase a nearly vacant office building near Pioneer Square on 5th Avenue.  The building had been leased to Amazon for the past 10 years, but they moved from the site in April of this year.   The 253,769 Class A building is part of the Union Station office complex above the railroad depot.  Principal Real Estate Investors and PCCP, LLC plan to lease the space as the market is so strong in Seattle.  Over the past 6 months, numerous large lease transactions have taken place in the downtown area including Zillow’s lease in the Russell Investments Center and Amazon’s lease in the 1918 8th office tower.  For more information, please visit the article courtesy of RealEstateRama.

The Nationwide Open House Weekend is Coming!

The Nationwide Open House Weekend is happening June 4th and 5th, brought to you by the National Association of Realtors.  In Washington state alone, organizers estimate that around 7,000 homes will be open, tripling the amount of any ordinary weekend.  You’ll have the chance to tour many of Washington’s homes for sale and be able to navigate easily with a customized list and blue balloon markers.  Please visit the official event page for more information.