April 2018
Madison Park Times
Serving East-Central Seattle since 1983
Real Estate
MADISON PARK - WASHINGTON PARK - MADISON VALLEY - DENNY-BLAINE - MADRONA - LESCHI www .M adison P ark T imes . com
President closes Seattle’s Russian consulate Madison Park residence of Consulate General of Russian Federation to lose diplomatic status By Brandon Macz
Madison Park Times editor President Donald Trump has ordered the expulsion of 60 Russian diplomats and the closure of the Russian consulate here in Seattle. The decision by the president is in response to the March 4 chemical attack of former Russian spy, Sergei Skripal, and his daughter Yulia in Salisbury, England, which is being blamed on the Russian government. “The United States takes this action in conjunction with our NATO allies and partners around the world in response to Russia’s use of a military-grade chemical weapon on the soil of the United Kingdom, the latest in its ongoing pattern of destabilizing activities around the world,” according to a March 26 statement issued by Trump’s press secretary Sarah Huckabee Sanders. The Washington Post reports the Trump
administration’s order means the expulsion of 12 Russian diplomats at the United Nations in New York and 48 at the Russian Embassy in Washington, D.C. The decision to close the Seattle consulate was based on “its proximity to one of our submarine bases and Boeing,” according to Huckabee’s statement. The consulate reportedly has until April 2 to shut down operations at its office at 600 University St. The Russian Foreign Ministry issued a statement following the decision by the United States and several European Union and NATO member countries to expel Russian diplomats, stating it does not meet the task of finding the perpetrators of the March 4 attack. “Pulling out indiscriminate accusations against the Russian Federation in the absence of explanations of what happened and refusing to engage in substantive interaction, the British authorities de facto CONSULATE, Page 6
Photo by Brandon Macz The Samuel Hyde House in Madison Park has long served as the residence of the Consulate General of the Russian Federation. After the Trump administration’s order, diplomats must leave the country by April 2, and the property must be vacated by April 25.
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APRIL 2018
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APRIL 2018
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Our magnificent camellia trees Tree Talk columnist Steve Lorton says camellias are a lovely broadleaved evergreen tree worthy of preserving in your yard, not whacking back.
Steve Lorton Tree Talk
W
henever I hear anyone use the phrase “camellia bush,” I shudder. For me, it’s a bit like hearing an ethnic slur. While there are some camellias in this genus of roughly 80 species, which do grow as shrubs, far and away, the majority of camellias that we see and enjoy at this time of year are either Camellia japonicas, which can reach a height of 45 feet, or hybrids that are equally statuesque. What most likely has happened when you see a camellia that is short and roundish is that some, hum? What is the word? Bozo! Some ignoramus has gone after this noble plant and whacked it back to keep it from reaching its full size, thereby robbing the garden and the world of a magnificent broadleaved evergreen tree that rewards us with a spectacular bloom show about this time of year. Camellias grow happily in the Pacific Northwest, for the most part undemandingly, in our cool, moist climate and acid soil. In general, give them light shade, a
1907 C R A F T S M A N HISTORIC CAPITOL HILL
Photos by Mary Henry light broadcasting of plant food or an annual top dressing of compost. This not only ensures a healthy plant, it encourages a robust flower crop. If you use a chemical fertilizer, make the application light. Soak the ground around the plant well. Scatter the plant food. I use a 12-12-12 mix (or thereabouts) in an easily remembered cycle of holidays: Valentine’s Day, April Fool’s Day, Memorial Day and The Fourth of July. A half cup evenly cast in a circle, 5 feet in diameter, around the trunk of the plant is ample. Then sprinkle with water again, dampening the freshly applied plant food to
assure that it doesn’t blow away, ending up in our water system. When you put a camellia in the ground, place it where it can grow to its potential. The northeast corner of a house or garden structure is ideal, or placed where the camellia is shaded on the south or west by a wall or taller plantings. Don’t site it under a window, where it will grow up, blocking light and view. However, should you have made that egregious error, don’t be seized by the whacking urge. Better this: dig and move the plant next fall rather than going
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LESLIE DICKINSON | 206.200.2174 Founding Member, Madison Park Leslie.Dickinson@RSIR.com LeslieDickinsonHomes.com
Each Office Is Independently Owned And Operated.
CAMELLIAS, Page 7 PROVEN RESULTS
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was thrilled to lend my insight to a special feature in Portrait Magazine, as I shared how I’ve helped my downsizing clients move out of too much square footage and into the lock and leave lifestyle of condominium living. Though many downsizers fear that losing square footage is a downgrade, chances are, most are living in less than 1,500 square feet of their homes anyway. Now is the perfect time to capitalize on opportunities, as the single-family neighborhoods around Seattle are setting new benchmark values. And as recent projects confirmed, it’s better to be an early adopter of this urban area.
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APRIL 2018
MADISON PARK IN BRIEF SAM begins $54 million Seattle Asian Art Museum renovation City seeking volunteers to fill seats on renters’ commission
The construction fence is up at the Seattle Asian Art Museum in Volunteer Park, where interior demolition work has started. The museum is expected to reopen in fall 2019.
The city is seeking two volunteers to fill open seats on the 15-member Seattle Renters’ Commission, which advises on rental policies and issues of interest. Applications must be submitted by 5 p.m. Thursday, April 12, and can be filled out online. To receive a mailed application, contact Maureen Sheehan at 206-684-0302 or pick one up at the Seattle Department of Neighborhoods on the second floor of Seattle City Hall, 600 Fourth Ave. between 8 a.m. and 5 p.m. weekdays. The 15-member commission is comprised of a diverse group of people living in various rental housing types, with six appointed by the city council, six by the mayor, one young adult through the Get Engaged program and two selected by the SRC.
Seattle’s Fair Chance Housing ordinance now in effect The Seattle Office for Civil Rights is now enforcing a new Fair Chance Housing Ordinance, which prohibits discrimination in rental housing based on arrest records, conviction records and criminal history. SOCR began enforcing the new ordinance back in February, and is seeking to educate tenants, landlords and property owners about it. A Renting in Seattle: Fair Housing and Rental Regulations for Landlords meeting will be held 9 a.m. to noon Wednesday, May 16, in the Bertha Knight Landes Room of Seattle City Hall, 600 Fourth Ave. The ordinance does not apply to single-family dwellings where the owner occupies a portion of the home, nor does it apply to accessory or detached dwelling units where the owner maintains a permanent residence on the property. While landlords, property owners and screening companies may not run a criminal background check on an applicant, they may check a prospective tenant to see if they are on the sex offender registry.
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Photo by Brandon Macz
BNBuilders expect work to finish in May 2019, followed by several months of putting collections back into facility By Brandon Macz
Madison Park Times editor The fence is up around the Seattle Asian Art Museum, where interior work has already started on the $54 million renovation and expansion. Representatives from the head contractor, Seattle Art Museum and city parks department in early March gave an overview of the roughly 15-month process that will be taking place in Volunteer Park, with most of the outside impacts expected between April and June. In between presentation slides, they answered a bevy of questions from concerned residents and park supporters. Eighty percent of the construction will be for renovation work, said SAM chief operating officer Richard Beckerman. That includes seismic stabilization of the 85-year-old structure — some interior walls consisting of hollow clay — a new mechanical system and climate controls. The other 20 percent will be for new features, such as a conservation studio, an improved loading dock that includes an elevator big enough to move artwork and a 12,000-square-foot, three-story expansion on the east side of the museum for new gallery, office, meeting and education space. While demolition work goes on inside the museum, the next few months will also be spent relocating utilities, said Jeremy Jones, BNBuilders superintendent. That includes a water main reroute and installing a new fire hydrant. “We are actually in the building doing demolition now,” Jones said. “We will start the expansion in April.” The construction work schedule will be 7 a.m. to 3:30 p.m., with truck deliveries to take place earlier in the day to minimize impacts. Jones said new park paths from 15th Avenue East are expected to be in place before the Memorial Day weekend. BNBuilders will also be working with Seattle City Light to provide new power service to the museum through a series of conduits that will run underground from 15th Avenue East to the back of the building. Jones said it should only take up to four months to dig a 3 1/2-foot trench for the duct bank, which will require running through a major park path. The trench would be covered when work is not taking place, he added, and the displaced path will be replaced as soon as possible. The trenching for the duct bank was a new project activity to John Colwell, a member of the Protect Volunteer Park group that formed in opposition to the expansion portion of the project that will take up about 3,500 square feet of park space. Colwell and other meeting attendees expressed
concern about the safety of the surrounding trees. Seattle Parks and Recreation project manager Kelly Gould said one cherry tree at the end of its life was removed, as was a partially dead conifer. Two memorial trees are being relocated, and two beech trees will remain. He added an arborist would be performing weekly inspections around the construction site. PVP member Eliza Davidson said she doesn’t believe the protection measures put in place by the contractors extends to the full tree canopy. Beckerman assured residents trees would be protected, citing BNBuilders’ work on Denny Hall at the University of Washington as an example of successfully working around such vegetation. Colwell also protested SAM sending out solicitations for donations of $1,000 to members that would get their names on plaques wrapped around the podiums where the Asian art museum’s iconic stone camels sit at the front entrance, saying the city hasn’t even granted the organization permission for the installation. SAM placed the camels there after the original marble statues were moved downtown. Beckerman said installing the plaques should be a simple administrative process, and told the Madison Park Times the camels were not included in the landmark process for the historic museum. Resident and park steward Charles Ragen asked, and was granted permission to review documentation of ownership of the camels. BNBuilders expects to be done with construction in May 2019, at which point SAM will be able to restore collections to the museum and reopen in the fall. A ceremonial groundbreaking took place on Tuesday, March 13. Construction updates should be available throughout the 15-month process at saamconstruction.com. At the urging of meeting goers, Gould said SPR would also provide a link on its website, which he conceded is not great for navigating projects. The Seattle City Council approved a new 55-year lease with SAM back in January, along with a development agreement that includes a list of negotiated benefits and a land use code amendment to allow the project to proceed in a single-family zone. The city is contributing $19 million toward the renovation and expansion — not counting the $2 million provided for pre-design work — as well as annual operational support. That annual support is scheduled to be $250,000 for the first five years, $275,000 the next five years, $300,000 in years 11-15 and then increases by $50,000 every five years. By the end of the lease agreement, the city’s annual contribution will be $700,000.
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APRIL 2018
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4031 East Madison Street | Visit RSIR.com or call 206.466.2409
Elementary School
Upcoming Event
Upcoming Event
Park House Paws
2018
Madison Park Home & Garden Tour
Benefiting: McGilvra Elem.entary School 1617 38th Avenue East, Seattle, WA 98112
206.252.3160 www.mcgilvrapta.org Sunday, JuneI·3rd from 12:00-4:00pm
Student lnform.ation Folder
MADISON PARK | HOME & GARDEN TOUR 2018
APRIL POP-UP EVENT | AUTISM AWARENESS
APRIL PARK HOUSE PUP | MEET MADDIE
The 2018 Madison Park Home & Garden Tour is set for Sunday, June 3rd, with all proceeds helping fund much needed supplies and services at McGilvra Elementary School. Nominate yourself, a friend or family member at ParkHouseEvents.com
On Friday April 13th, we hope you will stop into Park House as we celebrate World Autism Month. The showroom aq o.i.display a fantastic collaboration 10011:>s 01 will “Light Uppau.1n1a.1 Blue” and between local artists Barry Marcus and Jordan Johnsen, and accept donations to support those living with autism.
We are excited to introduce you to Maddie, our April Park House Pup! Maddie is 3.5 years old and loves to walk by Park House for a treat.. Stop by our office and introduce us to your four-legged family member and maybe we’ll feature them next month!
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APRIL 2018 While Russian diplomats and staffers had to be out by April 2, the Trump administration allowed Russians until April 25 to vacate the consulate and Consul General of the Russian Federation’s Madison Park mansion. What happens to the property after that time has not yet been decided.
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CONSULATE, from Page 1 took a prejudiced, biased and hypocritical stance,” the Russian Foreign Ministry states. The statement does not specifically address the pending closure of the Russian consulate in Seattle. “It goes without saying that this unfriendly step of this group of countries will not pass without a trace and we will react to it,” the statement reads. Seattle Mayor Jenny Durkan issued a statement on the decision, criticizing the Trump administration for not acting more quickly. “The real question is why it takes so long to stand with our allies and take action against a government who continues to threaten and undermine our democracy,” Durkan’s statement reads. “When Seattle was previously targeted by Russian hackers, we acted and brought Roman Seleznev to justice. Attacks from Russian intelligence, including interference in the 2016 election, need to be met with aggressive enforcement against those who participate or cooperate.” Seleznev is a Russian cybercriminal who stole more than 1.7 million credit card numbers, including from businesses hacked here in Seattle. He was sentenced to 27 years in prison in April 2017. U.S. authorities had negotiated with the Maldivian government to secure his capture, and he was brought to Washington to stand trial. “Today’s actions make the United States safer by reducing Russia’s ability to spy on Americans and to conduct covert operations that threaten America’s national security,” Huckabee’s March 26 statement concludes. “With these steps, the United States and our allies and partners make clear to Russia that its actions have consequences. The United States stands ready to cooperate to build a better relationship with Russia, but this can only happen with a change in the Russian government’s behavior.” Washington 7th Congressional District Rep. Pramila Jayapal also weighed in on the White House’s announcement, calling the actions a “small step in holding Russian accountable.” “However, this action is almost ironic, given the president is dragging his feet to do anything against
Putin or Russia for interfering in the 2016 election – taking months to implement the bipartisan sanctions that passed through Congress last year,” Jayapal states. “Seventeen intelligence agencies have concluded that Russia interfered in our elections. Yet, this president refuses to lift a finger to protect our elections from Russian interference. “Our adversaries like Russia need to know that we won’t sit idly by as they attack and interfere in our Democratic process. Unfortunately, Donald Trump doesn’t have the spine to stand up to Putin. Instead of taking swift action against Putin, Trump continues to buddy up to him, congratulating the Russian president on election victories and showering him with praise. We approved $380 million dollars in the budget for election security. Since Trump refuses to act, it’s up to Congress to make concrete change.” The Consulate General of the Russian Federation resides in Madison Park, at the Samuel Hyde House, 3726 E. Madison St. The Madison Park Times did not witness much activity around the residence on Monday morning, March 26, and it is unclear what will happen with the property, which is owned by the U.S. government and managed by the State Department. A State Department spokesperson tells the Madison Park Times that the United States has withdrawn its consent for Russia’s consular post, and Russian diplomats will be expelled by April 2. The Russians have until April 25 to close their diplomatic residence, according to the spokesperson, at which point the properties “will no longer enjoy diplomatic status or protections.” Diplomatic Security will walk through the properties to ensure the Russians have vacated, and will invite Russian representatives to accompany them. The United States purchased the historic Madison Valley property from Edward and Pamela Blecksmith for $1.1 million in 1994. The King County Assessor’s Office appraised the property at $3.85 million in 2017. A Seattle landmark that is also on the National Register of Historic Places, the two-story neo-classical home was constructed in 1909-10 and originally owned by Samuel Hyde, a liquor entrepreneur. It received Seattle landmark status in 1981, and was granted certain controls in February 1994, prior to its sale to the U.S. government.
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APRIL 2018
SDOT collecting more traffic data for Lake Washington Loop Greenway Project to complement future Madison Bus Rapid Transit
SDOT started collecting more traffic data for the future Lake Washington Loop Neighborhood Greenway in mid-March. The project is still in need of construction funding, and designs are still being finalized. How the future Lake Washington Loop connects with Montlake over State Route 520 after WSDOT completes construction is still being decided.
By Brandon Macz
Madison Park Times editor SDOT started gathering additional traffic data for the Lake Washington Loop Greenway last month as design work along a final route continues. “I’ve been trying to get that going for five years now,” said Bob Edmiston with Madison Park Greenways of the new greenway. “It’s a long time in the making.” Lake Washington Loop is a popular bicycle route that passes through Madison Valley and up the Washington Park Arboretum. A final route for a Lake Washington Loop Neighborhood Greenway is being broken up into two sections, with the first phase extending from The Bush School on East Harrison Street, west to 29th Avenue East, and then north to 26th Avenue East and East Lee Street. “It’s a slight reroute, so our wayfinding signage will be very important in that,” said Summer Jawson, SDOT’s Neighborhood Greenway Program manager. “People will still be able to bike on MLK if they choose to use the old route.” The second leg continues north on 26th Avenue East to East Roanoke Street and Lake Washington Boulevard East. “It works really well with the Madison BRT plan,” Jawson said. “We’re really excited about implementing this route that (Madison Park Greenways) have been working on and supporting and advocating in their work group.” SDOT’s previous traffic study collected data on vehicle speed and volumes, as well as bike counts along three route alternatives. Students at The Bush School helped come up with those route alternatives, Edmiston said, adding the hope is the greenway will help offset traffic issues as the school continues to grow. Jawson said SDOT is currently working with the community on implementing a grant for speed humps along East Harrison. “It’s already much farther along in design, so that would be the first phase of implementation from the grant they received,” she said. The latest traffic study is tracking vehicle speed and volumes between intersections and turning movement counts, as wells as bicyclist and pedestrian counts, according to SDOT. One intersection being studied, west of where the new greenway crosses East Madison, is at Martin Luther King Jr. Way East. That’s where the future Rapid Ride G bus line will turn around after the Madison Bus Rapid Transit project is completed. Construction of the Madison BRT project, which will
Photo by Brandon Macz create dedicated bus lanes along the Madison corridor from downtown to Madison Valley, is still slated to start in 2019. Jawson said Madison Park Greenways has proposed a signaled crosswalk at East Madison and 29th Avenue East, which would be challenging, and so SDOT is working on a signal design alternative. Edmiston said Madison Park Greenways met in late March to work on writing grant applications to help fund construction of the Lake Washington Loop Neighborhood Greenway. The Madison Valley resident is also concerned with how the greenway will eventually connect to the University of Washington through Montlake Boulevard East. The Washington State Department of Transportation could begin construction of the Montlake Phase of State
CAMELLIAS, from Page 3 after it with your pruners. A camellia is easy to move if it is under 3 feet in height. Larger plants will die if you disturb them. Just be certain to keep any transplant well irrigated for its first three summers. As a camellia grows, groom it as you would a Japanese maple. Allow it to stretch up and out, cutting back the occasional errant branch that grows long and floppy or shoots into the interior of the plant, crossing other branches. You want a trunk that is strong, with branches that grow up and gently angle away from the trunk. Thus, the camellia assumes its natural elegant form. Always prune after the flower drop. You won’t lose the beauty of bloom, and the
Route 520 by late 2018. This phase will complete the eastbound half of the SR520 west approach bridge, a new Montlake interchange, lid and land bridge. Jawson said she worked closely with Montlake stakeholders and WSDOT on a Neighborhood Traffic Management Plan (NTMP). Part of that plan includes reconfiguring the intersection of East Montlake Place East and East Roanoke Street to support greenway connections, according to the final NTMP. The city is also planning a greenway on East Roanoke Street that would connect to an existing greenway on 22nd Avenue East. Jawson said she expects a lot of conversation to be had regarding how the north end of Lake Washington Loop will connect with SR-520.
camellia will have the remainder of the growing season to set next year’s flower buds. Camellias also make excellent container plants. Give them generous pots and, as they grow larger and larger, increase the size of the container. Be empathetic. You wouldn’t want your size 11 foot stuffed into a size 9 shoe. If you have an established plant that is large but suffered from years of indiscriminate whackery, you can give that plant a new life. Always prune from the inside out and the bottom up, never cut from the top of the plant down or from the sides in. Start by going into the middle of the plant, removing all the dead wood. Then thin out the interior with an eye to the ultimate form you want. Go slowly. Make a cut. Step back, eyeball your work, go in for the next branch or limb removal. You can always take it off. You cannot put it back. Camellias deserve respect. Native to
Eastern Asia, these plants have been a beloved element of American horticulture for centuries. In 1786, French botanist Andre Michaux introduced camellias to Middleton Place, a 65-acre garden near Charleston, South Carolina. One of those plants, now more than 232 years old, still lives. Likely they arrived in Seattle shortly before the turn of the 19th century, when the first of the city’s grand houses needed grand gardens. Camellias will not win prizes in speed races, but they’ll grow steadily. Treat them lovingly and, in time, you’ll have a noble, small scale garden tree. It’s thick, glossy, dark evergreen leaves, beautiful year around, especially glistening in our winter drizzle. Then, voila! Spring arrives and the plant will explode in ravishing bloom and say to you, “Ah ha! Did you really think it wasn’t possible to love me more?”
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APRIL 2018
Chris Sudore
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APRIL 2018
9
We know where we are, but what is coming? Chris Sudore Property Views
property in good condition under the $1.5 million mark will sell fast, at or above asking price, and fielding multiple offers.
At the moment
W
hether I am talking with clients or catching up with neighbors at the grocery store, it seems that every day someone asks me, “How’s the market?” or I’m asked, “What do you think is going to happen in a year or two?” My answer to the first question begins with what I know today — what’s going on in the real estate market, the stock market and life in general. The Seattle real estate market remains very strong — all the data tells us
Timing, though, can be the difference between selling a home quickly or seeing it sit. For example, a handful of homes in that market sweet-spot failed to sell by the end of 2017. They came off market, then returned earlier this year and are all either sold or pending. There weren’t dramatic price drops or changes in the condition of the homes; it was a factor of time. The buyers either weren’t looking, weren’t here — like job relocators — or had to sell their current home and were not liquid. But now they all wanted to buy and had
the ability to do so. If you’re a seller and your home remains active, be patient, but be smart and use the feedback you’re getting. Listen to what brokers and buyers are saying when they pass on your home. If you’re hearing that the price is too high, that’s all the market information you need to know to prompt a price cut. It’s telling you the price is, indeed, too high. It’s a little tougher when it’s not about price. Look at how the home is being marketed — maybe have new photos taken. Take a look at how other homes are advertised. Ask your broker what else can be done.
Down the road The second question, about what I think is going to happen,
Homes Closed in Madison Park, Madison Valley, Washington Park, Denny Blaine, Broadmoor, Leschi and Madrona from February 21 to March 21 Address
Bed
Bath
Sq Ft
Built
Days on Mkt
Asking Price
2901 S Jackson St #408
2
1
852
2001
7
$440,000
$470,000
106.82%
521 29th Ave S
2
1
1904
1
$525,000
$570,000
108.57%
1603 30th Ave
2
0.75
1951
4
$524,950
$655,000
124.77%
214 29th Ave E
3
0.75
1920
3
$650,000
$698,000
107.38%
2360 43rd Ave E #311
2
2
1966
9
$725,000
$710,000
97.93%
906 29th Ave S
3
2.5
2012
7
$730,000
$780,000
106.85%
215 24th Ave E #D
2
1.75
2010
6
$665,000
$781,600
117.53%
1752 23rd Ave
3
3
2006
2
$740,000
$814,000
110.00%
106 24th Ave E #A
3
2.5
2004
7
$750,000
$873,000
116.40%
1423 33rd Ave
4
1
1926
6
$849,888
$875,000
102.95%
2615 E John St
2
2.5
2018
17
$895,000
$890,000
99.44%
941 29th Ave
3
2.75
1911
22
$899,000
$899,000
100.00%
224 Martin Luther King Jr Wy E
4
2.5
1973
70
$899,000
$899,000
100.00%
116 25th Ave E #B
3
2.5
2009
7
$798,000
$903,000
113.16%
2617 E John St
3
2.5
2018
0
$925,000
$925,000
100.00%
211 26th Ave E #B
3
2.5
2008
6
$825,000
$927,500
112.42%
3202 E Pike St
3
1.5
1926
8
$899,950
$936,000
104.01%
831 33rd Ave E
3
1.75
1920
7
$995,000
$1,032,000
103.72%
1516 31st Ave
2
1.75
1961
8
$865,555
$1,051,000
121.42%
1709 25th Ave
3
2.25
2018
6
$1,125,000
$1,125,000
100.00%
170 Lake Dell Ave
3
2.5
1973
8
$1,295,000
$1,315,000
101.54%
642 32nd Ave E
2
2.25
3200 E Republican St
4
2.75
302 Lakeside Ave S #101
2
1.75
1651 Windermere Dr E
5
2.75
445 McGilvra Blvd E
5
5.25
3344 E Shore Dr
4
3.25
2307 43rd Ave E #B
3
3.5
1952 Shenandoah Dr E
5
3.5
1510 37th Ave E
5
4
1593 Parkside Dr E
4
2.5
1,270 770 1,050 1,025 1,630 1,200 1,310 1,440 1,930 1,452 1,940 2,040 1,590 1,479 1,780 2,030 1,450 1,840 1,864 2,340 2,645 2,670 2,409 3,120 4,863 4,440 2,474 5,380 5,346 3,480
Sold Price
Sold Price/Asking Price
is harder to answer. But major economic forecasters are predicting an interest rate hike. Nationwide, the prediction is that the real estate market will level off. But what it means here depends on who you are. If we take, as an example, that million-dollar home in Seattle, we can get a glimpse of the future. A typical buyer has to finance that home purchase. So, for a home that costs $1 million, financing buyers are looking at this scenario: • A 20 percent down payment of $200,000 • Financing $800,000 • The current interest rate of 4.25 percent • The monthly payment will be approximately $3,890 But if interest rates rise to the forecast 5 percent, there’s a change: • That same 20 percent down payment of $200,000 • Still financing $800,000 • New rate of 5 percent • The monthly payment is now approximately $4,250 In real terms, the change in the monthly payment only rises by $360 a month. But the psychological jump from a monthly mortgage in the $3,000 bracket to one more than $4,000 is much bigger. You see a real change in comfort level and confidence. It’s the difference between hearing buyers talk about the first as “$3,000 and change, I think we can swing
that,” to “Yikes! It’s over $4,000 a month!” If a buyer is already stretching, that $360 could represent not being able to afford the utilities or something else. Even though the higher rate sounds scarier than it really is, it has a definite impact. There may be fewer buyers in the market when rates rise, because there won’t be as many able to buy or willing to buy. If you’re a seller this year, fight tooth and nail to get your house on the market before the rates rise, and take advantage of timing. Even if you can’t buy your next home, take your money and run. Rent for a while. Don’t get forced into some random house — be patient and see what happens. Maybe the rate rise doesn’t affect the market by next year, but you’re still in a great position. You have cash to buy your next house. If you’re a buyer, prepare to be aggressive this year — buckle up and be ready to move. If you want to know what that means to you, give me a call. As always, any change — or lack of change — in the Seattle real estate market will affect an individual depending on their own circumstances. It will vary according to who you are, what you have and what you want. Chris Sudore is a Madison Park resident and manageing broker at Coldwell Banker Global Luxury. Reach him at Chris@KingCountyEstates.com.
Washington property owners to see lower tax rate in 2019 Washington Gov. Jay Inslee on March 27 signed a $391 million property tax cut, which will be reflected in homeowners’ 2019 tax bills. The state property tax rate in 2019 will be reduced by 30 cents, from $2.70 per $1,000 of assessed value to $2.40. Despite the 40-percent rollback, the Legislature this past session still provided additional funding for K-12 education, according to the Senate Democratic Caucus. “We heard clearly that the compromise deal we made last year to fund education overburdened working Washingtonians,” said Democratic Sen. Mark Mullet of Issaquah, who sponsored the tax-cut bill. “I’m pleased were able return a portion of the 2018 property tax increase while still meeting our duty to fully fund our schools.” THERESA & PETER TRUEX 206.972.7768
•
206.972.4424
TRUEXREALESTATE.COM
1984
5
$1,375,000
$1,375,000
100.00%
2011
21
$1,588,000
$1,550,000
97.61%
1986
199
$1,800,000
$1,750,000
97.22%
1926
22
$2,100,000
$2,000,000
95.24%
1954
80
$2,348,000
$2,348,000
100.00%
1949
110
$2,850,000
$2,348,000
82.39%
2016
45
$2,900,000
$2,900,000
100.00%
1928
105
$3,095,000
$2,932,500
94.75%
2008
153
$3,090,000
$2,960,000
95.79%
1950
0
$3,100,000
$3,100,000
100.00%
IS IT TIME FOR YOU TO SELL OR BUY A HOME? CONTACT THERESA OR PETER TRUEX.
TEAM TRUEX MADISON PARK REAL ESTATE
M A D I S O N PA R K R E A L E S TAT E
10
APRIL 2018
Madison Park Home and Garden Tour needs recruits MT BAKER VIEW PERFECTION 3257 LAKEWOOD AVENUE SOUTH
|
MLS# 1264485
REDMOND TRADITIONAL 11007 220TH PLACE NORTHEAST
MARK POTVIN
|
|
MLS# 1252434
O F F E R E D AT $ 1 , 2 5 0 , 0 0 0
O F F E R E D AT $ 2 , 5 6 5 , 0 0 0 206.890.4615
MEREDITH ERICKSON
|
206.999.8832
Photo courtesy of Realogics The CLTHouse, owned by Susan Jones and Marco Zangari, was on the 2017 Madison Park Home and Garden Tour.
CAPITOL HILL CLASSIC 1138 16TH AVENUE EAST
|
MLS# 1260437
MT BAKER CRAFTSMAN 3 3 1 2 H U N T E R B O U L E VA R D S O U T H
O F F E R E D AT $ 1 , 5 9 5 , 0 0 0 MARY LAVERN-OAKES
|
206.790.63.26
|
MLS# 1003562
P R E S H A S PA R L I N G | 2 0 6 . 7 9 9 . 1 5 7 2 R I L E Y S PA R L I N G - B E C K L E Y | 2 0 6 . 7 9 9 . 2 8 5 1
SUYAMA RETREAT ON VASHON 12024 243RD STREET SOUTHWEST
|
206.963.7770
LAKE FOREST PARK OASIS 16900 25TH AVENUE NORTHEAST
|
MLS# 1261124
TOM MALONEY | S PA F F O R D R O B B I N S
|
206.605.0286
MLS# 1235916
206.235.3298 | 206.963.7770
STUNNING LOPEZ ACREAGE DRAGON RUN ROAD
|
MLS# 1024501
O F F E R E D AT $ 1 , 7 7 5 , 0 0 0
O F F E R E D AT $ 5 8 9 , 0 0 0 K E N L AT Z
|
O F F E R E D AT $ 1 , 2 9 5 , 0 0 0
O F F E R E D AT $ 5 , 5 0 0 , 0 0 0 S PA F F O R D R O B B I N S
MLS# 1258284
O F F E R E D AT $ 1 , 0 2 5 , 0 0 0 - P E N D I N G
M A D I S O N P A R K M U LT I - FA M I LY 4 2 1 5 E A S T LY N N S T R E E T
|
ANNE WILLOUGHBY NELSON
206.322.8940 W W W. G B K . C O M
|
206.660.3055
Organizers keeping event going, raising funds for McGilvra Elementary School By Brandon Macz
Madison Park Times editor After a successful revival of the Madison Park Home and Garden Tour last year, organizers are looking for a new crop of neighbors wanting to participate. “The feedback from the tour last year was fantastic, both from the tour-goers and from the homeowners and sponsors,” says John Madrid, managing broker at Realogics Sotheby’s International Realty, which brought back the home and garden tour in summer 2017 through a partnership with the McGilvra Elementary PTA. The Madison Park Garden Club had put on a home and garden tour since the 1980s, which ended years ago. Realogics worked with the PTA to bring it back as a fundraising opportunity for McGilvra Elementary. Madrid said the 2017 inaugural tour raised $10,000 for the Madison Park school. He and his wife even put their former mid-century modern home on the map. “You have to eat your own dog food,” he said. “You can’t recruit someone to do a home tour if you won’t do it yourself.” But now organizers are looking for 8-10 new participants willing to open up their homes and/or gardens for this year’s tour, which will take place Sunday, June 3. Sign-ups will start in May, and people interested in featuring their home and/or garden can contact Madrid at john@live206.com or 206-498-1880 for more information. Most of last year’s participating homes and gardens were in the Madison Park area, but organizers did add the historic Ellsworth Storey Home in the Denny-Blaine neighborhood. Ellsworth Storey was a famous Seattle architect, and both of his former residences are on the National Register of Historic Places and designated Seattle landmarks. “The Madison Park Home & Garden Tour went great last year! We started off at McGilvra’s own school garden for our children, and a number of parents volunteered and attended the event,” writes Elizabeth Fleming with the McGilvra PTA. “We’re really grateful to our sponsors at Sotheby’s Realogics who have been able to support us through this event. “Last year’s funds went into our overall budget, which bridge the gap between what our students need and what the district is able to provide. This includes reading and math specialists, art and other school events and amenities. For example, the PTA was able to bring a magic show in for the kids, as well as the school garden.” Tickets for the Madison Park Home and Garden Tour will be $30 this year, and can be purchased starting in early May at madisonparkhometour.com.
Pacific Publishing Company – Queen Anne & Magnolia News • Capitol Hill Times • Madison Park Times • City Living Seattle
APRIL 2018
11
O’Dea senior puts up Madison Valley bulletin board By Brandon Macz
Madison Park Times editor Miles Krauter and the rest of Boy Scout Troop 186 in Laurelhurst spend a lot of time working on community service projects in Seattle’s north end. When it was time for the O’Dea High School senior to craft a project to earn the highest rank of Eagle Scout, Krauter turned to the Madison Valley Community Council for ideas. “I live in the area, so I thought it would be more helpful to do something here,” he said. MVCC president Penelope Karovsky proposed Krauter construct a new bulletin board for the neighborhood. “I worked on it at a shop nearby,” Krauter said. “There’s a woodworking shop up the hill.” The community council wanted to put it up in the triangular right-of-way at East Madison Street and 28th Avenue East, but SDOT would have charged more than $300 per year to use the space. Krauter received permission from Michael Schattenkerk, facility operations manager at Bailey-Boushay House, to instead erect the new bulletin board in a small garden space fronting the sidewalk along East Madison. “He said this would be a fine spot, as long as I don’t hit any water lines,” said the prospective Eagle Scout, who began installing his project on Friday, March 16. Helping Krauter with his project was a friend from Garfield High School and his father, David Krauter, who put his youngest son in Cub Scouts when he was
seven. “The good thing about our troop is it’s truly scout led,” David Krauter said, adding there are 80 scouts in Troop 186, and Miles will soon be one of 14 Eagle Scouts. “I think the reason we keep scouts as long as we do is that they really understand that it’s their organization.” Krauter said he’s been building projects all his life, and he too wants to be an engineer. He’s leaning toward studying at Cal Poly after graduation, he said, adding he’d like to come back to Seattle afterward. While building the bulletin board took about a day, the project is far more technical when it comes to satisfying the Eagle Board. Krauter said he had to put together a proposal, get it approved, and after the project is finished he has to send in a final summary, including costs and funding. Dunn Lumber gives scouts a 10-percent discount, he said, and the Madison Valley Community Council is helping him recover his costs. MVCC treasurer Cherie Sato stopped by on Friday to watch Krauter work. She said board members are chipping in to cover costs, and also collecting donations for the project. “This is really generous of Miles, but also really generous of Bailey-Boushay,” Sato said. The bulletin board case is lockable, and the MVCC and Bailey-Boushay House will each have their own keys. “I got to meet Miles when he was installing the bulletin board and I was impressed with his passion,” writes Bailey-Boushay executive director Brian Knowles. “I think in our busy electronic times it is wonderful to go back to basics and have a community bulletin board. Bailey-Boushay House is very happy to support Miles and our neighborhood.” Krauter hopes to go before the Eagle Board within a month of completing his project.
Photo by Brandon Macz Miles Krauter constructed the bulletin board, which is his Eagle Scout project, at the request of the Madison Valley Community Council.
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230967
Community council helping teen with Eagle Scout project
12
APRIL 2018