Tag Archives: Seattle Rental

Tips For Choosing the Perfect Rental

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The Rental market has become quite competitive in recent months, with long time homeowners swiftly switching back into the renting along with prospective renters, all in search of the perfect rental. While everyone seems to be scrambling to find a home, there are a few things to keep in mind while searching for the right rental for you, before you sign the lease.

Make sure you know what you want before you go shopping. What are your personal requirements for renting? Do you need covered parking, a good pet policy, or washer and dryer in the unit? What are your wants vs needs? Make sure that you’re open to different options, and that you don’t expect the landlord to add additional amenities just for you. It’s also important to connect with the landlord; you don’t have to be best friends, but you want to make sure you’re able to have a working relationship with them. Being aware of possible scams is a good thing to keep in mind when you’re searching rentals on Craigslist, Zillow, other sites where anyone can post a listing. Don’t give financial information to just anyone, or even personal information if you don’t have legitimate information on the company or landlord first. For more information on rental listings, visit Ewing & Clark Inc.

Vacationing Late Summer? Review Home Security Tips to Keep Your Residence Safe

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Summer is prime time for vacationers to pack up and get in the car, and it’s smart to make sure your home is secured before leaving the humble abode for an extended weekend or longer. Zillow has compiled a precautionary checklist to review before leaving your home alone, and the first item on the list is to consider having a house sitter or consulting with your friends and neighbors to see if they’re able to check on the house while you’re gone, which could be simple if you’re having someone check on your pets, or water your plants.

It might be wise for a neighbor to park in front of your home while you’re away, creating the illusion that someone is home at all times. Shutting off a main valve might be a cautious step to take before you leave to avoid any pipes leaking, which can cause extensive damage, and become very costly. You could consider putting up motion sensor lights (check with your landlord to see if this is feasible) or electrical timers for inside lighting, again you could also have your neighbors stop by and do the same thing. For other tips on securing your home, visit Zillow.

Seattle Ferris Wheel Opens Tomorrow!

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The Seattle Ferris Wheel on Pier 57 on the waterfront will be officially open for business tomorrow afternoon! The wheel was built in less than one year and idealist, long time restauranteur Hal Griffith could not be happier his dream has finally become a reality. The wheel takes 6-8 passengers per gondola up 175 feet with views stretching across the city, (around 336 passengers can go up at a time!).

With construction of the viaduct putting obvious barriers for businesses down on the waterfront, the Great Wheel hopes to lure patrons as a big waterfront attraction. Griffith has been dreaming of this for nearly 30 years, and Seattleites can hop on board tomorrow, ride tickets are on sale $13 for adults and $8.50 per child.

Seattle Commercial Property Market Improving

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This past week, Seattle and the surrounding region has seen an improvement in the commercial real estate market, with the sales of three big properties.

First, Continental Properties, Inc. sold 131 apartment units at the Aqua View and Carillon Heights apartment complexes to Archstone. It sold for $47.46 million.

Arden Realty LP sold West Willows Technology Center to Griffin Capital New Lease REIT Inc. for $40 million. The office park is over 155,000 sq. ft and is located at 14500 and NE 87th St. in Redmond. AT&T is the current tenant and uses the space for network operation and R&D.

Finally, Redhill Realty Investments sold the Kent-located Hampton Bay Apartments to Hampton Bay located in Vancouver, WA. The 304 apartment units sold for  $31.4 million.

For more information, please read the original PSBJ article.

Downtown Seattle Aspira Tower Will Wait to Sell

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Magnolia ApartmentAccording to the Seattle Daily Journal of Commerce, the owners of the 37-story Aspira Tower, located in downtown Seattle at 1823 Terry Avenue, will wait to sell. Investors are eager to bid on it, as Seattle has the third strongest apartment market in the country; however, the owners of the 325-unit tower will sell at the time when leasing and the capital markets are stronger.

Currently, the Aspira Tower has an occupancy rate of 82%, with 6-7 leases per week. The average price of a unit is $2.85/sq.ft.

Seattle May See Rehab-To-Rent Pilot Program

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According to a Fast Company blog, Seattle may be one of the first cities in the United States to launch the pilot program, Rehab-to-Rent. Proposed as a way to handle the steady stream of foreclosures being released on the market in the future, Rehab-for-Rent would convert foreclosures into Seattle energy-efficient rentals. Suggestions include ensuring bidders have a decent track record, encourage local community organizations to bid, and offering incentives to the bidders to renovate. The full CAP report is here. An idea like this has the potential to stabilize the housing market, create jobs, and raise the current apartment inventory level; it’s certainly an upside to the housing situation we face. What are your thoughts on it?

For more details on the report, please click here.

Seattle Residential Real Estate: Pay Attention to the Neighbor

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Seattle Real estate backyard cottageIn a buyer’s market, there’s many various factors that can affect the price; one of them is who lives by your home. A recent Seattle Time article reports that a bad neighbor can cause more than just a nuisance; it can also drive down the sales price, up to a 10% reduction! However, it is difficult to quantify, as one man’s bad neighbor may be another man’s best friend.

If you’re looking for a way to handle a bad neighbor, there are a few options available. Some include contacting the King County Dispute Resolution Center, joining forces with other neighbors, mitigating the problem, and more. The full list is located at this Seattle Times article. Read through and maybe you can get some ideas on how to have a healthy, harmonious living situation, even with a bad neighbor.

 

Holland Residential Building Residential Community in South Lake Union

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Magnolia ApartmentAccording to the Seattle Daily Journal of Commerce, Holland Residential will be starting construction in June on a six-story, 285-unit residential building on 801 Dexter Ave N. It will also include 8 live-work units, 4,400 sq. ft of retail space, and 232 parking spaces. The design will face the design review board on March 7th, at 6:30, at the Queen Anne Community Center.

It will accompany the other residential buildings being built on 717 Dexter and 907 Dexter. Holland Residential is also constructing a 300-unit complex at 1319 Dexter Ave N. and a 142-unit complex at 1201 Mercer St. This flurry of apartment building is motivated by the recent expansion of Amazon, the construction of Gates Foundation, and overall development of the South Lake Union neighborhood in Seattle.

Seattle Apartment Construction Improving Seattle Housing Market

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Due to the influx of apartment construction, 2011 will be the first year since 2007 where housing construction will help the economy grow. There has been a surge in apartment construction, as signaled by the cranes in Ballard and South Lake Union, as well as an increase in permits, signaling future construction in Seattle.

For every new home that is built, it creates three jobs and adds $90,000 in taxes. For more details, read the Seattle Times article.

Equity Residential Purchases South Lake Union Half-Block

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Magnolia ApartmentThe largest apartment owner, Equity Residential, has purchased a half-block in South Lake Union for $12.5 million. The Chicago-based company has proposed a 275-unit complex for the half-block at 205-239 Minor Ave North. Equity is one of many development firms looking to develop in South Lake Union. Click here for more information.