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Neighborhood Profile: Queen Anne
May 22, 2017 /Way back in the Stone Age (or thereabouts) Queen Anne was among the least popular parts of Seattle when it came to purchasing property. Much of this unpopularity was a result of the neighborhood’s steep and hilly geography (which, to be fair, would have been much more annoying before the advent of the automobile). Whatever the reason for public distaste when it came to Queen Anne, local developers were desperate to get land off their hands, and even tried to entice potential buyers by offering two plots of land for the price of one. Now, of course, Queen Anne (named after the style of home many original builders constructed in the area) lives up to its regal name and is one of Seattle’s most popular places to live in. However, even characterizing the neighborhood itself can be something of a challenge. The lower end of the region is close to downtown attractions like the Key Arena and the Space Needle, while other parts of the neighborhood are comfortably residential. And let’s not forget that, with the presence of Seattle Pacific University in the north end, some of the area has a distinctly collegiate atmosphere. In short, there’s a little bit…Read more
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The Space Needle
May 22, 2017 /Like most things in Seattle, the Space Needle began with a cup of coffee. To be fair, there was a napkin involved, too. It was the end of the 1950s, and Edward E. Carlson was relaxing in a coffee shop, idly doodling on a serviette. It’s impossible to say for sure whether or not the impending World’s Fair was on his mind when he originally sketched the city’s sci-fi pinnacle (for all we know, Carlson might have been dreaming about his dry cleaning whilst scribbling). What we can say is that Carlson’s design, etched onto scrap paper amidst a peppering of coffee stains, served as the inspiration for one of the Northwest’s most important monuments. It wasn’t completely Carlson’s brainchild, however. Left to his own devices, he would have designed a building resembling either a massive balloon tethered to the earth or an equally large balloon perched on top of a column (the man liked his balloons, it seems). It took architect John Graham and his dedicated team to translate Carlson’s initial inspiration into the flying saucer structure we have today. After successfully building the first suburban shopping mall in the country (which just so happens to be Seattle’s Northgate…Read more
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Do You Like Low Interest Rates?
May 9, 2017 /Interest Rates Unchanged After The Fed's Wednesday Meeting After its meeting this Wednesday, the Fed voted to leave interest rates unchanged, keeping its benchmark rates at 0.75-1.00%. The decision was a response to the economy’s slow .7% growth in the year’s first quarter. Much of this slowing growth can be attributed to the transition period following the presidential election, so the Fed remains optimistic for future economic growth. In that case, two more rate increases are expected by the end of the year. The next rate hike is expected to occur in June as long as the economy continues to grow, while many experts expect a second increase to occur in September. Overall, the decision seems to have had a very slight indirect effect on mortgage rates. As of Thursday, the average 30-year FRM was down about 1 basis point, hovering around 4.02%, while the average 15-year ARM and remained around 3.27%. And, though rates are always changing, many experts don’t expect them to increase dramatically between now until the end of the year. Many economists expect the 30-year FRM to fall between 4.2-4.5% at the end of 2017. For some, these rates might seem to be way too high.…Read more
