& news QueenAnne&Magnolia news Home & Real Estate QueenAnne&Magnolia news It May Be Autumn, but
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OCTOBER 11, 2017
VOL. 98, NO. 41
the Seattle Real Estate Market is Still Heating Up Despite the autumn chill in the to resale opportunities within the downair, the Queen Anne and Magnolia town core and its immediate neighborneighborhoods are heating up, as an hoods. Another factor adding to Seattle’s influx of in-city buyers are sustainallure is the ever-growing tech sector, ing a seller’s market in Seattle. From often referred to as our “Silicon Forest.” Discovery Park and Magnolia Village Despite a recent announcement of plans to the residential streets and commerto open headquarters in another city (in cial hubs of Queen Anne, home sale addition to Seattle), by the end of 2019 prices continue to rise in the midst Amazon will reportedly be host to nearly Eleanor Heyrich 12 million square feet of office space in of the Emerald City’s unprecedented growth. As indicated by the latest downtown Seattle alone. Real Estate Broker S&P Case-Shiller home price index, “As predicted, trends for reduced invenREALOGICS SOTHEBY’S released at the end of September, tory and a rise in demand are continuing INTERNATIONAL REALTY Seattle continues to lead the nation to fetch higher prices as we move into the as the hottest housing market, a title final stretch of the year,” said Dean Jones, it’s held for 11 consecutive months, as Owner & Principal, Realogics Sotheby’s the region’s index is up a hefty 13.5% year-over-year. International Realty. “Our astronomical populaThis news comes despite the city showing some signs tion growth, traffic congestion, strong economy and of fatigue in July, as Seattle settled down to a “mere” quickly maturing urban amenities will continue to 0.65-percent monthly rate of growth, below the namake downtown living more attractive than ever.” tion’s average of nearly 5%. What is stoking the market’s fire? Inventory shortChart below indicates an increase in number of homes age in the fastest-growing sub region of downtown sold and average sales price from August 2016 to August Seattle is a definite factor. Despite an estimated 2017, despite a sharp decrease in active inventory. 25,115 new multi-family units built between 2010 ➧ REAL ESTATE MARKET, and 2019, 93.5% of these new urban dwellings are/ Page R6 will be rentals. This leaves eager homebuyers flocking August Comparison
#of Homes Sold
Avg. Sales Price
Avg. Days on Market
Avg. Price per Square Foot
2016
73
2017
100
$1,029,000
22
$434
1
$1,100,000
25
$471
.06
(c) gmcgill/stock.Adobe.com
5 Home Maintenance Projects to Tackle this Fall Fall is the perfect time to complete those pesky home maintenance projects left on your to do list. If you’ve been putting off these chores, you’re not alone, but it could cost you. In fact, a national survey from Erie Insurance shows many Americans are putting themselves and their homes at financial risk by delaying important home maintenance tasks.
Make sure you’re protected by focusing on these five areas: • The Roof. Twenty-three percent of homeowners admit they never inspect their roof or have it inspected unless there is a problem, according to the Erie Insurance survey. Unfortunately, replacing a roof is also one of the biggest expenses a homeowner may have if not maintained properly. Nationally, the average homeowner spends about $6,600
➧ MAINTENANCE PROJECTS, Page R2
QUEEN ANNE VIEW MASTERPIECE Offered at $3,100,000
Month of Inventory
Data by NWMLS as of October 2017. Information was obtained from sources deemed reliable but cannot be guarantteed. E&OE.
Six Ways to Bring Warmth into Your Home this Fall With the shorter days and cooler nights of fall can come the urge to hibernate. But first prepare yourself and your home for the season with these cozy and warm accents that will make time spent indoors cozier. 1. Incorporate Metallic Décor. While you’re breaking out the pumpkins, cornstalks and cornucopias, take a different approach this season and incorporate copper or brass accents. These metallic items will elevate décor, and the orange and yellow tones will complement the changing leaves outside. Try picking out a unique candelabra or vase or small decorative pieces to style the room. 2. Makeover the Fireplace. Fireplace season is on the horizon, so start thinking about new ways to make it the focal point of a room. Try painting it with a subtle whitewash for a look that will instantly
revive brick and brighten the space. Before you get started, prep the fireplace by scrubbing brick with a wire brush to remove any residue. Then, tape off any areas you don’t want painted with a quality painter’s tape like FrogTape brand painter’s tape, to prevent paint bleed and achieve professional-looking results. 3. Layer, Layer, Layer. Bare floors can make your home feel chilly. Warm up a space by layering area rugs on hardwood floors or to an already carpeted area. Not only will this add color and texture to a room, the extra cushioning will ensure feet avoid the cold, so you can keep your slippers tucked away. 4. Update the Guest Bedroom. With the holidays on the horizon, there’s no better time to give your guest bedroom a cozy update. Surprise overnight ➧ SIX WAYS Page R7
Designed by Stuart Silk, this truly stunning residence is the ultimate in grace and sophistication. Breathtaking panoramic views of Lake Union, Cascade Mtns. and more. Main floor offers 14’ ceilings, walls of windows that bring in huge East views and light, chef ’s kitchen with adj family room. Second floor boasts view master suite, two add’l bedrooms and full bath. Lower level greets you with wine room, bonus room, steam bath. Huge 2-car attached garage. Enchanting gardens and terraces set the stage for glorious entertaining!
Ellen Gillette BROKER l ABR
19 years of experience helping buyers and sellers successfully navigate through one of the most stressful times in their lives. Office Cell Fax
(206) 283-8080 (206) 478-0941 (206) 283-5650
egillette@windermere.com MakeSeattleYourHome.com