& news QueenAnne&Magnolia news Serving Queen Anne & Magnolia since 1919
MARCH 9, 2016
Home & Real Estate Queenannenews.com
Where are Your New Neighbors From? Kim Wesselman Windermere Real Estate
I
t was nearly 45 years ago that the iconic billboard appeared in south Seattle saying, “Will the last person leaving Seattle — Turn out the lights.” A nosedive in the aerospace industry had driven unemployment in the Puget Sound area to 13 percent, more than double the national average. Things were grim. Look at the area today and, to quote another iconic phrase of that decade, “You’ve come a long way, baby.” Seattle area unemployment is among
Thinking Of Selling Your Home When Expedia Moves In?
The Smart Employees Are Already Here Buying Now!! Many of the 3,000+ employees who currently live on the eastside are wanting to purchase now and close in the spring so they can move before they move into their temporary offices on Elliott Ave this summer. Queen Anne and Magnolia’s housing inventory is at an all-time low while home values are at an all-time high!
Don’t Miss The Boat!
Dave Reith Broker/Windermere Real Estate FineSeattleHomes.com davereith@windermere.com 206.947.6800
the lowest in the country. We’ve seen job growth in the past five years, with 54,300 new jobs added in 2015 alone. People are arriving in droves. The Seattle metro area population grew by nearly 58,000 from 2013 to 2014 to reach a total of 3.67 million, according to latest census figures. Where are the new people coming from? Much of the new population is coming the old-fashioned way: we’re having babies. But most new arrivals are moving in from elsewhere. Census data says
2016 Seller’s Market – Is this a bubble?
that King County attracted 102,580 domestic movers from 2009 to 2013. The majority of domestic moves, nearly 62 percent, came from out of state. And despite common assumptions, they’re not coming mainly from the Silicon Valley. In order of volume, they came from Los Angeles, Phoenix, San Diego, Portland, and Chicago. Growth in population and jobs has put a strain on the inventory of homes for sale. Demand is up, supply is ➧ NEIGHBORS, Page 3
Sell Your Home Ask your realtor about advertising in the Real Estate Section
H
last fast paced ome market, what we sellers in are experiencing Queen in Seattle and Anne and King County is Magnolia are simply supply reaping the far exceeded by benefits of demand. a historically Ken Graff strong seller’s Here are the market. Multiple CB BAIN facts: offers have become the • In residential real estate, rule and I hold open houses it is generally accepted that where it is difficult to keep a healthy and balanced track of the number of market will have 4-6 months people visiting due to the of inventory available to high volume. I’m often purchase. At the end of asked if this is a bubble January 2016, King County and if there will be a crash had an inventory of just similar to the one the country experienced in 2007, 1.2 months and the city of Seattle, just 0.54 months. followed by a less dramatic Prices for homes in Seattle, market drop in MagnoliaQueen Anne in the two years versus one year ago, were up 19.7%. that followed. My response is that instead of the • In the last 12 months, fraudulent and irresponsible 174,000 people have lending practices that exchanged their out of precipitated the end of the
Vol. 97, No. 11
Contact 206.461.1322 or ppcadmanager@nwlink.com
NEW LISTING state driver’s licenses for Washington state licenses. If assuming two drivers per household, that’s 87,000 new households moving to Washington. Roughly 75% of those moved to the Greater Puget Sound region, meaning there were more than 60,000 new households in the Puget Sound area. • In the last 12 months, King County issued only 7,500 single-family building permits. ➧ mARKET, Page 4
2845 30th Ave W
$739,000 Spacious, mid-century on great street, blocks to Village. Slate entry, fab stone fplc, open plan. Huge deck w/expansive outlooks. 4BR/1.75BA
Corey Hays 206-818-3386 corey@mrmagnolia.com
homes@mrmagnolia.com Facebook.com/mrmagnoliahomes
Dawn Bourdo 206-948-4340 dawn@mrmagnolia.com
2
March 9, 2016 | www.QueenAnneNews.com
Add Your Personal Style to Your Home You may feel locked into the style you inherited when you purchased your house. But you have more power than you think to transform your reality home into your dream home. To make a big style impact, consider these upgrades and projects: Stunning Curb Appeal Don’t settle for a drab or standard home exterior, particularly when it comes to your roof. A beautiful, colorful update will enhance your home’s exterior design and boost curb appeal. For long-term durability, consider a polymer slate or shake roofing product, like those from DaVinci Roofscapes, which are offered in 50 standard colors and a variety of striking color blends. However, picking the right exterior color scheme and style can be daunting without guidance, say experts. “Many homeowners are afraid to shake things up with color because they don’t want to make a mistake,” says Kate Smith, a color trend forecaster with Sensational Color. Luckily, free resources can provide guidance and tips on understanding your home’s exterior features and how to play off them with color accents. For example, Smith has written a free 36-page guide, “FRESH Color Schemes for Your Home Exterior.” The guide explores color options for seven different home styles and eases the process of choosing color palettes to complement your home exterior. To download the free guide, visit davinciroofscapes.com. An Interior Oasis An ancient tub, a leaky toilet -- these are bathroom features to bid farewell to forever. Your bathroom should be more than just a functional space; it should be an oasis from busy, stressful days. Whether you are looking for customary bathroom elements or a spa-like whirlpool system, seek out a collection, rather than a la carte replacements, to achieve a coordinated look. For example, the Affordable Style Designer Series suites from Mansfield Plumbing, come in a variety of unified traditional and modern designs. If you want a bit more from your bathroom, consider new products, such as the MicroDerm Therapeutic Bath, which silently infuses millions of oxygen-rich microbubbles into bathwater to relax, clean and exfoliate skin. A Touch of Elegance Give your interior spaces privacy and elegance by rethinking windows. In key rooms, consider replacing standard windows with privacy windows. ➧ STYLE, Page 4
3
www.QueenAnneNews.com | March 9, 2016
Out-of-State People Moving In ➧ NEIGHBORS, from Page 1
down. So prices are up too. In January, the average sales price of a home in Queen Anne and Magnolia was $914,000, up 12.3 percent from a year ago. If you’ve been considering selling your home, the time is ripe. It’s a strong sellers market. Though for many, selling brings the conundrum of how and where you will buy next.
One smart strategy for home sellers with some flexibility is to sell their home and move into temporary housing until they find their next home. Not an ideal transition, but given the sales prices and multiple offer scenarios we’re seeing in this sellers market, the likely financial gain could well be worth the inconvenience. In the meantime, will the next person arriving in Seattle bring in some new housing inventory?
If you have real estate topic you’d like to hear about, please send questions to kwesselman@windermere. com. Kim Wesselman is Managing Broker at Windermere Real Estate. She has advised clients on buying and selling properties in Queen Anne and Magnolia for 14 years.
Queen Anne Homes Closed Between February 1st and February 29th Address 3422 14th Ave W #A 1210 6th Ave N #A 3639 C 13th Ave W 3639 B 13th Ave W 402 Aloha St 1925 A 8th Ave W 1925 B 8th Ave W 1840 11th Ave W 1844 11th Ave W 1927 C 8th Ave W 1927 B 8th Ave W 317 Queen Anne Dr 111 Crockett St 2430 3rd Ave W 365 Halladay St 2720 4th Ave W 352 Galer St 617 W Kinnear Place
Bed
Bath
Sq Ft
Year Built
Days on Mkt
Asking Price
3 3 2 2 3 2 2 3 3 2 2 3 3 3 4 3 3 4
3.5 2.5 2 2 3.25 2.25 2.5 2.5 2.5 1.75 1.75 3.25 1.5 2.5 2.25 2.25 2.25 4.5
1,680 1,155 1,619 1,824 2,013 1,566 1,539 1,520 1,520 1,490 1,743 3,130 1,750 2,850 2,650 2,550 2,793 3,700
2006 2008 2015 2015 2001 2015 2015 2016 2016 2015 2015 1985 1907 1919 1929 1995 2016 1924
4 8 83 67 6 57 12 7 0 0 14 73 7 6 16 7 1 24
$595,000 $549,000 $679,950 $699,950 $749,950 $769,950 $769,950 $729,950 $800,000 $829,950 $849,950 $935,000 $825,000 $949,950 $1,199,000 $1,169,000 $1,575,000 $1,750,000
Sold Price $617,000 $638,000 $685,000 $699,950 $762,500 $769,950 $769,950 $792,000 $800,000 $829,950 $849,950 $931,500 $943,000 $1,026,500 $1,100,000 $1,300,000 $1,575,000 $1,700,000
Sold Price/ Asking Price 103.70% 116.21% 100.74% 100.00% 101.67% 100.00% 100.00% 108.50% 100.00% 100.00% 100.00% 99.63% 114.30% 108.06% 91.74% 111.21% 100.00% 97.14%
Magnolia Homes Closed Between February 1st and February 29th Address 3643 36th Ave W 5607 40th Ave W 3012 36th Ave W 3042 A 21st Ave W 3227 21st Ave W #D 3415 37th Ave W 3208 W Government Wy 3426 40th Ave W 3014 28th Ave W 3215 Magnolia Blvd W 2617 28th Ave W 4410 Montana Circle West 3600 41st Ave W 2628 W Boston St 3212 Whalley Place W 2577 26th Ave W 2800 W Boston St 3702 29th Ave W 5634 39th Ave W 1516 Magnolia Blvd W
Bed
Bath
Sq Ft
Year Built
Days on Mkt
Asking Price
3 2 3 3 3 2 3 4 2 3 3 2 3 4 3 4 4 5 5 5
1 1 1.75 2.25 2.25 1.5 2 1.5 1 1.75 1.5 2.5 1.75 3 2 2.75 3.25 4.25 3.75 4.5
972 1490 2,180 1,590 1,550 2,280 1,541 2,500 2,140 2,280 2,342 1,677 2,290 2,580 3,370 3,350 3,134 4,320 4,237 8,125
1943 1952 1943 2008 2013 1939 2015 1951 1940 1937 1932 1900 1940 1960 1928 1955 2015 2015 1968 1938
6 2 10 5 19 8 74 13 11 68 8 4 10 7 125 6 30 50 881 225
$539,000 $549,000 $565,000 $619,900 $649,000 $679,000 $699,500 $722,950 $649,950 $829,000 $888,000 $829,000 $749,000 $749,950 $1,025,000 $1,248,000 $1,495,000 $1,549,000 $1,799,000 $2,548,000
Sold Price $565,000 $575,000 $625,000 $641,500 $642,000 $686,000 $690,000 $718,000 $742,000 $765,000 $800,000 $853,500 $858,000 $865,000 $940,000 $1,255,000 $1,490,000 $1,549,000 $1,780,000 $2,370,000
Sold Price/ Asking Price 104.82% 104.74% 110.62% 103.48% 98.92% 101.03% 98.64% 99.32% 114.16% 92.28% 90.09% 102.96% 114.55% 115.34% 91.71% 100.56% 99.67% 100.00% 98.94% 93.01%
Clarify and prioritize your life goals Wells Fargo Advisors’ unique Envision® process offers you an easy, effective way to identify your highest-priority goals and develop an investment plan designed to help you live your life the way you want to. Please contact me today to schedule a confidential meeting to find out how the Envision process can help bring new clarity to your life goals — and enhance your confidence in your ability to achieve them. Envision is a registered service mark of Wells Fargo & Company and used under license. Nate Tepp Financial Advisor 1201 Third Ave., Ste. 3500 Seattle, WA 98101 Direct: 206-344-6526 nate.tepp@wellsfargoadvisors.com home.wellsfargoadvisors.com/nate.tepp
Investment and Insurance Products: NOT FDIC Insured NO Bank Guarantee MAY Lose Value Wells Fargo Advisors, LLC, Member SIPC, is a registered broker-dealer and a separate non-bank affiliate of Wells Fargo & Company. © 2013 Wells Fargo Advisors, LLC. All rights reserved. 0815-01048 [78683-v4] A1654 (2234901_479488)
Serving Seattle for 34 Years! Computer Aided Kitchen and Bath Design Available
specializing in residential & condominiums
Jan slaWson
jslawson@windermere.com www.janslawson.com 206-949-4Jan (4526)
Windermere Real Estate/Wall St., Inc.
Queen anne | magnolia | doWntoWn
Reading
What better way to start your day than reading the paper.
A moment all to yourself over your morning coffee. To subscribe to the paper please call 206.461.1337
Ballard/Crown Hill Location: 8055 15th Ave NW
206-789-3205 www.morgansonline.com
4
March 9, 2016 | www.QueenAnneNews.com
Big Style Impact
Get Started
➧ STYLE, from Page 2
on the path to homeownership!
Decorative glass windows add character to a space because they become the view. They serve as their own artwork for the room with the added benefit of providing privacy in the home. Those from Hy-Lite include square, geometric and oval shaped windows in both fixed and operable styles and in various sizes, so they can be used as a focal point in a room or to create a striking accent wall of windows. Create an eyecatching space in the kitchen with acrylic block windows, or complement your home’s architectural style with one of the fashionable silk-screened windows featured in their Home Designer Collection.
Julia Eaton Harford
NMLS #120442 | Loan Originator
(206) 818-5576
phone email julia.eaton@axiahomeloans.com WEB juliaeaton.axiahomeloans.com
I look forward to working with you!
If you’re unsatisfied with your house, consider making key upgrades and replacements that will add elegance, beauty and a touch of your own personality.
A registered trade name of Axia Financial LLC - NMLS ID 27830
March is...
National Frozen Food Month
Cook from Scratch!
Let me help you find your dream kitchen & your dream home!
Eileen Quackenbush
Broker Agent/Realtor & Magnolia Resident Call/ Text: 206-300-3071 | www.EileenQuackenbush.com Windermere Real Estate/ Wall St. Inc.
LOOKING TO ADVERTISE?
YOUR AD HERE CON TAC T ADV E RT I SIN G AT PPCADMA NAG E R@N W L IN K OR 2 0 6. 4 61 .1 3 2 2 TO ADV E RT I SE
Strong Market above median paying jobs. • Amazon continues hiring employees at a rapid pace, and by 2019, Expedia will be moving 3,000 plus employees from Bellevue into the Amgen Campus along the waterfront.
➧ MARKET, from Page 1
• There are more than 8,000,000 square feet of office space under construction in the Puget Sound Region. Of that, 70% is pre-leased. If assuming 110 square feet per employee, that means employers are planning to hire or move more than 70,000 employees in the next 3 years.
These facts suggest that this is not a bubble, and we should expect prices to continue to climb. At Coldwell Banker Bain, we think that city wide, the 2016 market will be at least as fast-paced as 2015, and the 2017 market will be fast paced, but slightly less so as more single-family houses and condominiums become available late in 2016, and into 2017-2018. Positive and negative issues with this current seller’s market are real, and buyers and sellers interested in Seattle area real estate should discuss
• Delta Airlines’ intent to add an international hub at SeaTac Airport will add $10 billion in construction work over the next 8-10 years as SeaTac adds 35 new gates for Delta’s hub. At completion and full utilization, the airport can accommodate more than 840 incoming and outgoing flights per day and will add upwards of 10,000 new,
these issues with a qualified REALTOR®. Some sellers make the mistake of thinking that since it is a hot market, that they should list with the agent who offers to do it for the lowest commission. But fast rising prices can lead to issues such as low appraisals and it is essential to work with a broker well versed in negotiating through unforeseen issues. Now more than ever, it is important to work with a REALTOR®, who has an understanding of where the market is, and where it is headed. Ken Graff is a native Seattle REALTOR® named to Coldwell Banker Bain’s International President’s Circle for his exemplary record of success.
Home & Real Estate Bulletin Board CLEANING SERVICES
CONSTRUCTION
LANDSCAPING
Creating sustainable, low maintenance, custom gardens PLANTINGS • HARDSCAPES • STONEWORK THE
WE MAKE YOUR LIFE EASIER! Locally owned & operated since 1997. Your satisfaction is our goal! 206-227-7964 ¦ 425-821-4503 L i c e nse d ¦ B on d ed ¦ I n s u r ed
CLEANING SERVICES
ARTFUL GARDEN
Design
Installation
Maintenance
206-799-6513
www.thear tfulgarden.net # ARTFUGC86702
YOUR DIRECTORY HERE
ADVERTISE HERE! Running Monthly in all of our Seattle Publications
Full Color Ad (2 x 3.5in) Contact Tammy at 206.461.1322 for ads rates and deadlines