Seattle Market Update

Inventory increased by a net of 11 homes this past week, which was obviously not enough to satiate all the buyers looking to purchase and live in Seattle proper.  Price per square foot is now $337 per sq foot, which begs the question:  How much cheaper is it to renovate one’s current home vs selling to purchase a moving up home?  If price to build new is around $125 (depends on your finishes, of course), is it worth that additional $210 per sq foot to find some other land?  Or would it make more sense to stay put and remodel?

I genuinely worry that inventory will only decrease further moving forward because more and more sellers will realize there’s no point in selling.  They would be better off completing a cashout refinance or taking out a HELOC on their current homes, and adding that extra bathroom, bedroom, bigger kitchen, etc than they would be trying to leverage up.  Bottom line:  If you have some money and you know a contractor or builder looking for private investors – now would be as good a time as any to invest in them!

Today's blog courtesy of Kyle Bergquist, Guild Mortgage 

Happy Investing!

Beacon Hill Rental - $2200

Lots of old world charm in this upper duplex of a remodeled 1900 farm house on Beacon Hill, with three bedrooms and one bathroom, original fir flooring, and 9' ceilings on the main floor. Exterior will be painted prior to move-in, and various repairs being completed. Rental is available August 30 (or earlier on a case-by-case basis).

It is a light and bright interior with a formal living room and dining room. One bedroom and bath on the main floor, two roomy bedrooms and large walk-in closet and storage on the upper floor.

The spacious kitchen has a butler pantry and gas cook stove. Natural gas heating as well.

There is a fenced backyard (being cleaned up and tent removed), with a beautiful deck right off the dining room.

Watch the two video links in this ad to get a better look at the interior spaces:
https://youtu.be/RtXz-hGG-dw
https://youtu.be/8UgMv1rsN2A

Driveway for off-street parking for up to two vehicles. Plenty on on-street parking for your guests!

Close to the Mt Baker Light Rail Station, El Centro de la Raza, The Station coffee shop, and many other amenities on Beacon Hill. Home is located at 1936 S. Lander Street in Seattle.

Email HomeLandInvestment@gmail.com for showing times.

Happy Investing!

Affordable Greenlake/Ravenna/U District Location!

Location-Location! Check out this charming 2 bedroom home in Ravenna with covered front porch, OWC and hardwood floors, unfinished basement and attic. Newer vinyl siding, gas furnace and roof. Kitchen has been remodeled. Very tastefully decorated. You will love the fenced garden retreat with koi pond and raised garden beds in the back yard. Extra off street parking fenced, behind the house. Walking distance to the University of Washington and to Greenlake. A great neighborhood! Location is north of 45th and south of 65th Streets, east of Interstate 5.

Tax Assessed (2009): $328,000
Zillow Zestimate: $347,000 ($308,000-375,000)

Comps:
1209 NE 56th St Sold 2/19/2010 $380,000 3BR/1BA 1100sf 0.30mi from subj property

810 NE Ravenna Blvd Sold 1/29/2010 $309,000 2BR/1BA 1000sf 0.37mi fr subj property

5016 Keystone Pl N Sold 1/06/2010 $494,900 2BR/1BA 1010sf 0.48mi fr subj property

Lots of recent updates completed. Needs about $10,000 worth of improvements--replacing bedroom carpets, replace tub surround, minor touch-up painting or repair, remove popcorn ceilings, level southwest corner of living room.

If interested, please email me at:
HomeLandInvestment@gmail.com