Housing Expenses

What Does a $1M Home Look Like in Seattle?

Seattle is topping many of the real estate charts across the country, and is becoming the prime example of what low inventory levels and high demand can do to a metropolitan market. As buyers clamor to get their hands on any type of house in the city, sellers are noticing that the values of their homes continue to rise.

Recent Statistics

In fact, recent data published by Realtor.com revealed that Seattle ranked 8th in the country for the highest percentage gain of properties valued at $1 million or higher. In 2017, about 7.7 percent of properties on the market in Seattle were listed for $1 million or more, according to an article published on GeekWire. That's a 2.4 percent increase...

Seattle Home Prices on the Rise: A Tough Situation for Home Buyers

Rising home prices is typically good news for local real estate markets, as it is a sign of a strong market and tends to motivate both sellers as well as buyers. However, in Seattle, rising home prices has actually led to a housing affordability crisis. Many people who want to live in the city limits have found that it's too expensive to own real estate in Seattle, and instead opt to rent apartments, townhomes or single-family homes in the different neighborhoods.

Now, according to The News Tribune, the housing affordability crisis is expanding beyond the borders of Seattle and creeping into the neighboring suburbs as well. Those who already own real estate in the Puget Sound region may benefit from selling their home during this time, but they may be...

Seattle Predicted to Have Second Hottest Real Estate Market in 2017

Home prices in Seattle are soaring, so much so that Zillow predicts the city will have the second hottest real estate market nationally in 2017. In fact, within Seattle itself, home values have skyrocketed, increasing in price by 42% since 2011.  Current homeowners and developers looking to build new housing units could stand to see enormous profits.

Neighborhoods by the Numbers

Although most of Seattle is experiencing enormous appreciation rates, each area is a little bit different. Here is a breakdown showing appreciation rates in some of Seattle’s most sought-after suburbs:

  • Zillow predicts that the Seattle metro will appreciate by 5.6% in the coming year, which places the area second nationally. Provo, Utah tops the list. This statistic is an overall measurement, covering a large portion of the city including...

Four Ways to Cut Seattle Home Heating Costs This Winter

house resale valuesIn the Seattle area, we?re blessed with relatively mild winter temperatures. In the winter and early spring months, the average lows in much of the Seattle Eastside area range from the low to mid-30s, with highs in the mid-40s to mid-50s. Of course, there are always exceptions to the rule.

Take, for example, the crazy snow storm we experienced in January of 2012 at Snoqualmie Ridge ‐ no one expected that! Area residents probably did not expect that record low of -3°F back in 1950 either. Fortunately, these extremes seem to be few and far between.

When the weather in Issaquah, Sammamish or Snoqualmie is frightful, you don't have to resign yourself to higher heating costs. Stay cozy while saving on heat with these four simple tips....

Seattle New Home Builders Benefit From Sellers Market

Seattle New Home Prices The Seattle and U.S. housing market appears headed for a strong close to 2012 and a roaring start to 2013 - market activity remains active in Seattle and surrounding communities like Bellevue, Issaquah, Sammamish and Snoqualmie.

For most of 2012, choices for new construction homes have been limited, particularly on the Eastside of Seattle, where it is rare to find "move in ready" new construction  - most new home buyers are having to wait at least a few weeks to close as the homes are completed. Seattle new home builders are quite aware they are benefiting from a ...

How Much House Can You Buy for $500K on Seattle's Eastside

home buyingAs home prices are rising in all of Seattle, prospective home buyers often wonder how much house their home-buying budet will afford them. Let's take a look at what type of home you can buy on Seattle's Eastside between $450K - $550K, including the communities of Bellevue, Kirkland, Redmond, Issaquah, Sammamish, Snoqualmie and North Bend.

As of the date of this post, in the Eastside Seattle suburbs below (single-family homes only), there are 201 homes active on the market and available for purchase between $450-$550K. This sounds like a lot  of inventory - but we're looking at a large area here, and we're not applying any home search filters, other than price. And more importantly, there are presently...

Cost of Living in Seattle - Is it More Expensive?

cost of living in seattleMoving to Seattle? Be Sure to Consider ALL Living Expenses

With home values slow to rise and mortgage rates at all-time lows, there's never been a more affordable time to buy a home in the Seattle metro area. However, there are many more aspects to the cost of living than just a mortgage or rent payment. There's the cost of utilities, groceries, household goods, gasoline, other commuting expenses, professional services, routine medical care, etc.

Not surprisingly, where we live can tremendously affect our costs, and our overall standard of living. Big cities are often more expensive in which to live, for example, and local tax laws influence daily costs, too.

In looking at the entire Seattle metro area, there can also be significant differences between...

Energy Saving AC Cooling Tips for Seattle Summer

Hot, Hot, Hot - Snoqualmie Summer Temperatures Spike

So... we're a little "hotter" in Seattle area than we were last year. In Issaquah yesterday, the temperature reached a scorching 96 degrees - incredibly hot for Seattle standards. In Snoqualmie, it wasn't quite as hot - my thermometer maxed out at 92. But, considering I moved to Snoqualmie to escape the heat... I'm not especially thrilled. Fortunately, I have air conditioning. Unfortunately only about 25% of homes in the Seattle area have central AC.

With that in mind, consider the following tips to help your Seattle area home be more energy efficient, and stay cooler during our warmer - or hot - summer months.

hot summer Seattle AC cooling tips...

Seattle Eastside Home Builder Confidence Rises July 2012

eastside seattle home builder confidence risesFor the second time in three months, the National Association of Homebuilders reports that the Housing Market Index made sizable gains. The Housing Market Index measures homebuilder confidence in the new construction market and is scored between 1-100.

New home builder confidence in the Seattle metro area also remains strong, and in areas on Seattle's Eastside, new homes are selling often as "pre-sales." Additionally, "spec" home (move-in ready) inventory continues to sell quickly. New home communities in the Issaquah Highlands, Talus, the ...

Rental Prices Rising in Issaquah & Seattle's Eastside

Recently, I was asked ‐Why are apartment a home rental rates rising in Issaquah?? Well, the fact is, that apartment, townhome, condo and single-family home rents are rising across the nation - not just in Issaquah, but also the entire Eastside and Seattle metro area. Rental rates are increasing due to several factors, but the primary cause are the events in the real estate market over the past 2-3 years.

In any event, when looking for a rental home, townhome or condo in Issaquah, Bellevue, Sammamish or any other Eastside community, you must be prepared to act quickly! The rental market in Seattle is generally not a situation where one can take their pick, and choose a home to rent over the course of several days.

Nationwide Rental Rate Increases

In 2012 and beyond,...

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