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Seattle, WA Real Estate News

By Ben Kakimoto, Seattle Condo Specialist
(Keller Williams Greater Seattle)
Vegas has "What happens in Vegas, stays in Vegas".NYC is blessed with "I (heart) NY"Hawaii is the "Islands of Aloha" And (drum roll)...  Metronatural.Huh?  Say WA!Metronatural (tm) is the new tourism slogan for the city of Seattle.  After 16-months and $200,000 the Seattle Convention and Visitors Bureau came up with Metronatural.   It's meant to convey a combination of a vibrant, urban city with the surrounding natural beauty of the Northwest.Okaaay.  Though, judging by reader responses in the online newspapers and tv reports, it's going to take some getting use to.  But, at least it's a bit less puzzling compared to the slogan that it's replacing:  And, Seattle really used it:  See-@-L  The State of Washington didn't fair much better with it's very short lived "Say WA" campaign which j...
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By ActiveRain Real Estate Network
(ActiveRain)
A few weeks ago there was a thread about doing an informal get together to ActiveRain members in the Seattle area.  I'm finally making an executive decision here and we're going to meet up the evening of Wednesday, Oct. 11th at Buckley's on Queen Anne.  Buckley's is a fairly quite neighborhood restaurant and pub.Anyways I'll be there, and ActiveRain members are invited to show up and talk, network and chat.  If you thing there is a good chance that you'll be there, please reply by commenting on this post so I can get an idea of who might be there.  Maybe we can start making some plans for that Las Vegas meet up, while we're there :)Hope to see you there...Update: Forgot to put a time on there, I plan on being there around 6:30 and will probably be there most of the evening.-Matt Heaton ...
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By AAA Properties
(AAA Properties - $500 Flat Fee Listings)
Sonnenblick-Eichner Co. has arranged $41 million of first mortgage financing for the 120-room Hotel 1000 in Seattle.  The boutique hotel, which is part of a mixed-use development downtown, opened in June. The first two years of the 10-year fixed rate loan are interest only with the balance of payments based on a 30-year amortization schedule. The financing was provided by an unnamed Wall Street investment bank.
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By Toby Barnett, Toby Barnett
(KW North Sound)
OMG this is a gem that will mark a season. The Seattle Seahawks square off against the Chicago Bears at Soldier Field in this weeks Sunday Night Football game. Boo Yaoo!! The top defenses are going to do 60 miinutes of battle against some huge offenses. I can't wait and I am having a Sunday night party at my place with tons of HAWK FANS!! The nachos will be hot, the TV loud while we watch another bludgening. I have posted some stats and predictions over at the Seahawks Blog. Swing over and take a peak!!
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By Toby Barnett, Toby Barnett
(KW North Sound)
Today the Seattle Seahawks host division rivals the Arizona Cardinals. Even with all the star players now on the Cardinals they will still have a very difficult time putting points on the board in Quest Field. The combination of talent on the Seahawks and the crowd noise Arizona will have to play really good to be competitive. The Cardinals did win there home opener last week but this is our home opener and it has been over a year since another team won in our house. My prediction is it is going to be a blood bath. Shaun Alexander needs to get the football more times this week. Having less the 60 yard during the game was very uncharacteristic of #37 but today I have a feeling, maybe cuz im hungry, that Shaun will be back to his young self. Hasselbeck will cannoning the ball like normal ...
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By Ben Kakimoto, Seattle Condo Specialist
(Keller Williams Greater Seattle)
Recently, the NWMLS revised several forms including the Purchase & Sale contract and addendums.  I've highlighed a few of the important changes below; for more information, please visit my blog @  Seattle Housing Buzz.Purchase & Sale Contract (Form 21)Possession Date - option defaults to closing, may fall on weekend or holidayComputation of Time - clarifies based on days, not hoursAttachment of Legal Description - must be attached to the offer, otherwise offer is not bindingAssignment - must be agreed to by both parties in writing Seller Disclosure Statement (Form 17)Revised the proximity to farming statementFinancing Addendum (Form 22A)Type of loans - Buyer must now state if loan is a Second or BridgeClarifies that downpayment is from other than financing sources Buyers obligation to p...
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By Ben Kakimoto, Seattle Condo Specialist
(Keller Williams Greater Seattle)
July saw an increase in condo inventory in the Downtown, Belltown & Pioneer Square areas from 89 to 131 active listings. Pending sales also increased 8.9% from 35 to 39. Interestingly, with the increased inventory, buyers had more choices and it resonated with them as the average days on market fell from 78 to 52 days. Additionally, 76% of newly listed units were sold within 20 days upon coming on the market (however, new construction presales listed in the MLS may have accounted for this). The average sale price reduced slightly ($466,500 to $463,700) with the average sale price approximately 2% less than the list price. On the other hand, the median price increased 4% to $416,000. The total dollar volume of all closed sales dropped from $18,195,600 in June to $12,056,400 in July. Inf...
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By Ben Kakimoto, Seattle Condo Specialist
(Keller Williams Greater Seattle)
April saw the beginning of an uptick in inventory for houses outside the urban working areas. In the seventeen counties covered by the Northwest Multiple Listing Service, most saw double digit gains in the number of listings; some jumped as much as 25%. And home prices continue to appreciate as well. The median price for a single family home in Western Washington was $359,950, which represents a 12.5% increase.In May, pending sales were up 11.5% over April due to larger inventories in outlying areas. Neighborhoods close to the job centers of cities like Seattle and Bellevue continue to be hot, resulting in high competition and multiple offers in many areas. In King County, the median price for a home was almost 17% more than the same time last year. Condo prices in King County were up a...
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By Ben Kakimoto, Seattle Condo Specialist
(Keller Williams Greater Seattle)
Simplyfing the home buying experience, more than a motto, it's a way of doing business. Washington's most innovative real estate company, John L. Scott, has been transforming the way people search for homes. Over the past few months, John L. Scott has rolled out new features to empower buyers and sellers to make informed decisions. These include: Interactive map search utilizing Microsoft’s Virtual Earth technology - provides multiple bird’s eye view photos and icons showing all available properties. Enabling sold data directly from the NWMLS database. Unlike other sites that rely on county records which takes months to be updated, the NWMLS data is current. John L. Scott is the first real estate brokerage to provide sold data directly to the public. Provides Community Details - populat...
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By Ben Kakimoto, Seattle Condo Specialist
(Keller Williams Greater Seattle)
Developers and visionaries are out to change the landscape and forever change Seattle's place as a big city.  Around downtown 49 new condominium and loft projects have been proposed adding upwards of 10,000 new housing units to the urban core.View a map of Seattle's skyline in the year 2010.   With recent rezoning allowing for higher density and taller buildings combined with a healthy business environment what will continue to grow, developers are creating new urban centers in the Midtown and South Lake Union districts.
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By Ben Kakimoto, Seattle Condo Specialist
(Keller Williams Greater Seattle)
Seattle is undergoing an extraordinary condominium construction renaissance with up to 49 new mid- and high-rise buildings proposed by 2010 adding over 10,000 housing units.  Realistically, not all will be built but many will which will provide homeowners and investors incredible pre-construction presale opportunities.   Generally the presale process is composed of four distinct phases - Reservation, Examination/Contract, Construction and Closing.  Though some developers are utilizing a lottery process. Reservation -A reservation is the initial offering to the public.  The developer will provide preliminary floor plans, renderings and pricing.  A deposit is required which can range from $10,000 to 10% of the purchase price.Examination/Contract -  During this phase the developer will pro...
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