Friday, September 15, 2017

Seattle Housing Inventory

Normally we see a pretty nice little bump in inventory in September, however, I’m not entirely sure that’s going to happen again!  We saw a HUGE run up in Seattle inventory between April and late June (about an 80% increase in inventory during that time), however, since peaking in August we’ve been on a pretty sharp decline in overall inventory levels.  That doesn’t mean things won’t start hitting the market in late September like they normally do, this early decline in inventory is merely representative of the gigantic build-up of buyers still looking for a home, and refocusing on their search now that Summer and Labor Day are over.

With the recent decline in overall inventory, we’ve also seen the median priced home in Seattle tick back upward from $699k in late August, to $722k this past week.  Please note, the Seattle median price home peak for the year was set in mid May at $777,475.  It will be interesting to see whether or not prices continue to increase throughout fall and winter, and then increasingly so next spring; versus what normally happens where prices remain steady until January when they start skyrocketing. 

In the end, it looks like the stage is being set for an even more competitive market next year with inventory levels plummeting earlier than normal as Fall’s buyer-pool snatches up homes more fiercely than ever before. 

Happy Investing!

Today's market report courtesy of Kyle Bergquist, Guild Mortgage

Saturday, September 2, 2017

Vacation Waterfront with Financing

Always dreamed of your own Puget Sound waterfront home to dock your fishing boat? Fractionalized ownership gives you 100% of the occupancy rights, and 65% of the equity, as the majority owner. Up to ten years - with no payments and no interest - to cash out the other equity partners.

3650 Steelhead Dr, Lagoon Point, Greenbank, Whidbey Island. $400,000 for 65% equity.

https://www.dropbox.com/s/cdkpwjgr1rag45s/Rocheford3650_HD_Final_MJ_2.mp4?dl=0

Here's the description of this home:
Spacious house, with 60' of waterfront on a well-protected canal for crabbing/boat moorage, just a stone's throw to open water of Admiralty Straits on Puget Sound, in a stunning island community. West-facing, spectacular sunsets. Moor your boat on your backyard shared dock, kayak the canals, or fish for salmon from some of the best shore fishing on Whidbey. Beachcomb at the community beach of coveted Lagoon Point.

Watch container ships and cruise ships sail by as you relax on your back deck. Watch the winter storms safely inside by the gas fire. 

Wildlife abounds here: deer, rabbits, ducks, hawks and eagles. Minutes from south Whidbey State Park & the Greenbank Farm, with miles of trails for both dogs & humans. Easy access to Coupeville, Ft. Casey, Freeland, Langley. Only 20 minutes to the ferry!

Buyer has the option of either 65% (at $400,000 purchase price) or 100% (at $525,000 purchase price) of equity ownership. Seller financing available to help with the down payment. Meet one of the owners at the Open House this weekend, tomorrow, Sunday September 3, 2-4p. 

Happy Investing!

Thursday, August 31, 2017

Fixer Triplex with Views in Renton

Investor/Builder/Contractor Alert!  


Finish off this high-quality project and reap the rewards! Legal triplex fixer, down to the studs! Corner lot with no neighbors and AMAZING territorial views from every floor, of Lake Washington, Olympic mountains, downtown Renton. Cedar River water property next door, will never develop. 

Great location-Easy walk to downtown Renton (walk score 83); close to airports, Boeing, public transit, The Landing, shops, restaurants. Gas at street.

Asking $500,000. Seller financing available. Please contact Wendy Ceccherelli at wendy@c21nwr.com for details or to schedule a showing.

339 Cedar Avenue S, Renton, WA

Happy Investing!

Friday, August 25, 2017

Big Yellow Cranes

See all those big yellow cranes? We’re sorry to say that they’re probably not building your next home. Our current regulations make building offices and rental units more appealing to developers than condos, townhomes, single-family homes and mixed-use properties that serve the middle class.
Even if they were building homes to put on the market, we’re so far behind demand that it will take much, much more construction to catch us up. But it’s worth making the effort now: a study by the California Legislative Analyst’s Office has shown that building enough supply would result in lower prices. As more proof, Tokyo has not seen rapid home price appreciation because it meets all new demand by building more housing.

If you’re curious about all the construction, you’re not alone. Seattle in Progress is a free map tool that shows what’s being built all around Seattle. Explore the map

Today's blog courtesy of The Housing Translator.

Happy Investing!

Monday, August 21, 2017

Sold in Kent

Know anyone else who needs to sell a house in our area? Happy to help!

Happy Investing!

Friday, August 18, 2017

New Rainier Beach Listing

4808 S. Othello Street
Seattle, WA 98118

Open 12noon - 2pm, Saturday, August 19, 2017

Five bedroom home, listed for $550,000. 

Very convenient location, 3 minute walk to Seward Park, Othello light rail, or shopping, 10 minutes to airport, Boeing and 15 minutes to downtown Seattle. Bus stop (#50) and bike lanes at your front door.

Generate extra income from Airbnb and basement MIL? Comes furnished- or not, your choice. 

Enjoy outdoor dining on your low-maintenance backyard patio, with rubber mulch landscaping for children play area.

For more information, contact Wendy Ceccherelli at wendy@c21nwr.com or call 888-621-4999 x0.

Happy Investing!

Seattle's Hot Market


As I was reading articles on Seattle this past week to prepare for the Weekly Market Update, I read two articles back to back:  The first one titled “Seattle Adding $1m Neighborhoods at a Blistering Rate”, and the second one titled “Zillow Data:  Seattle has 3rd Largest Homeless Population in US”. 

Let that sink in for a bit… 

Seattle now has 38 zip codes where at least 10% of the houses in those zip codes are worth $1m or more.  58% of those zip codes were added to the list in the last three years, and 9 in the last year alone – trailing only a couple slightly larger cities in LA and New York City which each added 13 last year. 

On the flipside, Seattle also ranks third in the nation for homeless population.  New York has 76,341 homeless, LA 61,398, and then albeit a distant 3rd place, Seattle at 12,763.  However, account for overall population with NYC at 8,538,000; LA at 3,976,000; and Seattle at 704,352; and Seattle’s homeless as a percentage of overall population is at 1.8%, compared to 1.5% for LA, and .9% for NYC. 

As a percentage of overall zip codes, Seattle added more $1m neighborhoods last year than any major city in the nation.  All the while, as a percentage of overall population, Seattle has the highest homeless rate in the nation as well.  Can I state the obvious?  Something’s not right here.  I don’t have all the answers, and I know figureheads in Seattle are “working on the issue”, but come on…this is ridiculous. 

All I can say is:  Dear Politicians, Do your job.  We elected you to take care of ALL of us.

Here's my undereducated easy first-step solution towards resolving homelessness: Seattle property tax income is exploding with the increased values...what if we simply siphoned off some of that income to create a panel that tracked nonprofit effectiveness on resolving the issue, then monetarily supported those nonprofits with some of the additional property tax revenue already coming in from rising property values? We don't need to raise any taxes to accomplish this, let's just redistribute some of our increased tax revenue to nonprofits like Mary's Place, Matt Talbot Center, YouthCare, and other amazing nonprofits working to job-train and get people from the streets into homes. Would that work?


Check out the full article on our $1m Neighborhoods Here
Check out the full article on our Homeless Situation Here

Happy Investing!

Today's guest post is courtesy of Kyle Bergquist, Guild Mortgage.