Need A Green Thumb? Tips on Landscaping Savings

If you don’t think you have what it takes to build the perfect yard, read on for some great tips for new homeowners to spruce their front yard! If you know the basics, and can handle a shovel and hose you can save yourself a bundle. A high end landscaping contractor may

Photo Courtesy of cityfarmer.info

charge at least $5,000 to remodel a typical suburban front yard; but if you’re willing to sweat a little, and tackle replacing overgrowth and old greenery with new plants, you can boost your property value. CNN Money has a list of 7 things you can do to improve your landscaping that you can probably do without the help of a landscaper.

Downtown Seattle Condos Starting to Fill Up

Downtown Seattle Penthouse Condo Available

The past two years have not been promising for the Seattle Condo Market, and condo developers are finally starting to see a turn around in the Downtown area. According to the Seattle Times, roughly two dozen new projects were at work between 2007-2010 during big the real-estate crash. Many of those who bought the pre-sale backed out and several developers ended up converting their buildings to rental units to cater to the economy. Those who stuck it out had to slash prices, and in many cases had to lower the costs by up to 40 percent.

Today the market is starting to look more appealing and beginning to have the first signs that it will bounce back. A few good indicators include Escala raising  some of their prices; one of the largest downtown projects to date, Escala did so quietly, with the majority of their condo units selling for 99% of the asking price, they’ve begun upping the anty as their inventory gets smaller. Also of the 2,500 condo projects that have been built in downtown and surrounding areas, fewer than 250 units is left unsold. There are currently no new projects in place; most developers and lenders have put condos on hold to allow the market to recuperate. If you’re interested in learning more about finding a condo in the Seattle area, here is a list of available units.

Arena Deal Under Seattle City Council Scrutiny

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.

Zillow Reports Rentals Continue to Outshine Housing Market

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.

Homeowners Might be Sued Over Teen Killing

Outside City Hall in Orlando, FL this weekend, many citizens mourned the death of Trayvon Martin, the 17 year old shot and killed near the Twin Lake’s Retreat. This tragedy has caused a nationwide discussion over race and the laws of self defense. Martin, a young black teenager was shot to death by George Zimmerman, the community’s crime watch program captain, on February 26th while Martin was walking back from a convenience store unarmed.

Photo Courtesy of CNN Opinion

Zimmerman is claiming self defense, saying he shot Martin after he was punched in the face, knocking him on the ground, and claiming he was attacked while on the ground afterwards.

Those who might be charged with the final price of the murder are the homeowners of the retreat at Twin Lakes, as it is highly likely that Martin’s family will sue the community’s Homeowner’s Association and property management company, after the way the watch program has handled and operated the case. This case has been a tragedy for people in the community close to Martin, as well as people all over the nation following the case closely, and has also been an eye opener for those seeking or currently working with a property management company. The importance of finding a well established company, such as Ewing and Clark in Seattle, with an honorary track record for your homeowner’s association has been brought the attention of many, and is now more important than ever. For more information on the case, please visit the Seattle Times.

Touchstone Plans Hotel/Office Space for Denny Triangle

Seattle developer Touchstone is starting to plan a Hotel/Office project just blocks from Amazon’s proposed 3 block highrise project in Denny Triangle. They filed paperwork this week for a 13 story office and hotel complex, on a half block site along Boren Ave,

photo courtesy of Dennytriangle.org

between Stewart & Howell St. Touchstone currently owns a piece of this property already, the properties on the front of Stewart street resembling two retail buildings, and the rest of the site is owned by Diamond Parking. The site is scheduled to be reviewed by the Downtown Design Review Board on April 24th. For more information on this project, visit the Seattle Times.

Harbor Urban Sells West Seattle Apartments

Seattle Real Estate developer Harbor Urban sold two new apartment buildings in the West Seattle junction area last week, with a total estimated sale of $105 million. Harbor Urban came to shape earlier last month as a collaboration between Urban Partners and Seattle developer Harbor Properties. The West Seattle properties were sold to a company affiliated with American Realty Advisors of Glendale, CA. The Link Apts, a 195 unit complex, were sold for $62.7 million and the 135 unit “Mural Project” was sold for $42.3 million. According to the West Seattle Blog, both buildings are almost entirely leased as well; please find the extended article from the Seattle Times here.

Bank of American Allows Foreclosured Families to Rent

Bank of America has announced a settlement for homeowners that allows people who have been foreclosed on, or facing foreclosure to stay in their homes as renters. This “Mortgage to Lease” will take effect as a trial program in Arizona, New York and Nevada for a select group of 1,000 homeowners in each state, hand picked by the bank. The bank has expressed that if the program succeeds, they could extend the offer to more  at-risk homeowners with mortgages through the bank. Those who will be selected by the bank will be more than 60 days delinquent on their home loans, with high loan balances, and have an income to support their rent, among other qualifications. Homeowners will have to surrender the title to their homes over to the bank, but will be forgiven their mortgage debt, and will have the opportunity to lease their homes for up to three years at or below the current market rate. For an extended story, please refer to CNN Money.

Amazon Releases Design Proposal for Denny Triangle

Amazon has released a few ideas for the design of their new downtown office complex in Denny Triangle, and they’re pulling out all the stops to create the perfect working environment. The design proposal includes a large conference room that seats 2000 people, has more than 3,000 underground parking spots and three high rise towers than cover over 3.3 million square feet. So much for a quiet opening. Amazon released these details in paperwork filed on Tuesday this week with city planners and a design review board that will discuss the proposal late next week.

But the design isn’t the only thing gaining attention from the paperwork; Amazon is also considering hosting several “public benefits” in hopes of gaining permission to dramatically transform the three blocks in the Denny Triangle area. This design meeting will launch the beginning of months of a permitting process, while giving Amazon the time and opportunity to present their design ideas to the public, and gain much sought out feedback.

Is the Cost of Buying a Home Cheaper than Renting? YES!

According to Real Estate site Trulia, there have been studies done on the national housing Market and results are showing that in 98 out of 100 markets, buying a home is actually more affordable than renting. The only two states that beat the bar were Honolulu and San Francisco. There are several factors that justify this claim today, such as all time low mortgage interest rates,  foreclosures have been on the rise and the folks crunching numbers for the housing affordability index indicate an optimistic outlook.

Of course not everyone is in a position to buy, but the cost of rent in many metro areas is leading this group further and further away from that goal. Rising rental costs make it harder for people to save money for a down-payment, creating a greater gap between home buyers and renters in a buckled economy. For an extended article, please refer to CNN Money.