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Seattle Real Estate Update for Fall 2017
October 12, 2017 /With its misty mornings and mouthwatering apple harvests, fall in the Seattle area is in full swing. As the seasons change, let’s check in on how the Seattle real estate market is doing. The median price for Seattle home is $667,500, or $476 per square foot, which is an increase of 16% over last year. Whether you are buying or selling, or are somewhere in between, here’s the latest scoop on the local market. 1. Mortgage rates rose last week but remain low. In the beginning of October, 30-year fixed-rate mortgages rose ever so slightly, from 3.83 percent to 3.85 percent. According to Freddie Mac, the 15-year fixed-rate also rose from 3.13 percent to 3.15. Adjustable five-year mortgages rose from 3.17 percent to 3.20 percent. Despite these increases, mortgage rates remain very low, which is good news for home buyers. 2. Seattle real estate reporter talks about the bubble. Because Seattle is experiencing such a competitive, wild real estate market, the question on many people’s minds is whether or not the current situation is a bubble that will eventually burst. Seattle real estate reporter Mike Rosenberg discussed this question and more in his recent AMA interview on Reddit. According to…Read more
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New Listing Near the Arboretum Is a Seattle Dream
October 5, 2017 /Here’s a nerdy confession: one of my favorite ways to relax is to sit down with a cup of coffee or a glass of wine and drool over home design makeovers. I love to read about how people buy homes and make them their own with just a bit of design smarts, such as this inspiring example on Cup of Jo. As such, I am thrilled to talk about Pickett Street’s newest listing today, and am both jealous of and excited for the lucky homebuyer who snags this property. The Listing While searching for your dream home can sometimes be discouraging, there also comes the time when, by some miracle, you find the perfect spot. Just four blocks from the Arboretum, this four-bedroom, three-bathroom historic home was built in 1904 and is oozing with charm. Highlights include a spiral staircase, a fully finished daylight basement with a cozy wood stove, crafted cabinetry, a jetted tub in the master bathroom, and the unbeatable location. The best part about this property is that, at a spacious 4,000 square feet, with two levels and the finished basement, the property is begging to be customized to fit your style and needs. The basement’s private…Read more
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Four Reasons Why It’s Good to Be a Home Seller Right Now
September 29, 2017 /My friends recently made a really smart real estate decision: four years after purchasing their lovely home in Boulder, Colorado, they sold it and moved to a cheaper spot in Nashville, and, as a result, made a boatload of money. I found myself both--let’s be honest--slightly envious, and inspired. Investing in real estate, and understanding when to sell, is one of the smartest ways to build wealth. You might be wondering what Boulder, Colorado has to do with Washington State, aside from the fact that both Seattle and Boulder are home to hippies and tech nerds with serious outdoors obsessions. Well, while Boulder’s real estate market is doing well right right now, Seattle’s real estate market is right up there with it as one of the most competitive markets in the country. In many ways, the Seattle market is even hotter than Boulder’s. If you’re considering listing your Seattle area home right now, here are a few reasons why it's good to be a home seller right now. For more information about selling your home and understanding its current value, contact Pickett Street at (425) 502-5397 or info@pickettstreet.com. Also, be sure to check out this easy home value form. 1. The…Read more
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Neighborhood Profile: Kenmore’s Transformation into a Vibrant Community
September 21, 2017 /Three large industrial silos sit on the edge of Kenmore, and the town’s residents are about to transform these towers into art. For the past year, residents have posted signs on these silos that read “Let’s Beautify This,” urging passers-by to donate to a GoFundMe account. This project speaks to both Kenmore’s current exciting revitalization and its strong sense of community. Located northeast of Seattle on the tip of Lake Washington, Kenmore is an up-and-coming, medium-sized town. Here’s some more information on why this is a great spot to buy a home right now, along with a humble suggestion of a listing you might love. Real Estate Stats The median home value in Kenmore is $559,300, and the median rent is $1,896 per month. I’m currently drooling over this gorgeous two-level condo in Kenmore with three bedrooms, including a spacious master bedroom that has a bathroom with double sinks (you’ve know you’ve made it in life when you have two sinks in your bathroom). The condo also has an updated kitchen with laminate countertops and a cozy gas fireplace for those long northwest winters. Also, how great would it be to drink your coffee each morning on this cute deck…Read more
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Look For The Helpers
September 15, 2017 /If you’ve been following the news lately, or if you’ve been directly affected by recent events, it might seem like the world has turned into an apocalyptic landscape. With wildfires in Oregon, California, Montana, and elsewhere, and Hurricane Harvey and Irma ripping through the southern United States and Caribbean, it’s easy to feel overwhelmed. In difficult times, I am reminded of a quote from the beloved Mr. Rogers: "When I was a boy and I would see scary things in the news, my mother would say to me, ‘Look for the helpers. You will always find people who are helping.’ To this day, especially in times of disaster, I remember my mother's words and I am always comforted by realizing that there are still so many helpers--so many caring people in this world." The Keller Williams family is among the many helpers. How Keller Williams Is Helping As Hurricane Harvey’s devastation spread, leaving at least 210,700 properties damaged or destroyed in Texas, many displaced survivors looked for shelter at the Austin Convention Center, where Keller William's company typically holds a four-day conference each year in September. After seeing how many people needed support in the hurricane’s aftermath, Keller Williams decided to…Read more
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Neighborhood Profile: Peaceful Small Town Life in Duvall
September 8, 2017 /I grew up in various small towns in Washington State. As a child and teenager, I often felt bored and dreamed about someday having an exciting downtown city loft with views of the glittering nightlife. However, now that I’ve spent several years living in various large cities, whenever I visit my parents in their small Washington town I feel a sense of ease and peace that I rarely experience in urban spaces. With misty views of the mountains, quiet streets lined with evergreens, easy driving conditions, and safe paths for evening strolls, Washington’s small towns are quite dreamy. Located northeast of Seattle, near Woodinville, Washington, Duvall is a small town of a little over 7,000 people. Before Civil War veterans set up homesteads in this area, it was once home to Tulalip tribes. If you, like me, are considering the relaxing beauty of small town life, here’s some more information about this lovely Washington spot. Neighborhood Stats Duvall is the third safest place to live in King County, with crime rates 83% lower than Washington’s average. Residents describe this spot as having an old country town feel, with friendly neighbors, antique stores, and plenty of activities like summer concerts, holiday…Read more
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Seattle Real Estate Market Update for August 2017
September 1, 2017 /Now that summer’s winding to a lovely, blackberry-filled close, let’s check in on Seattle’s real estate market. Here’s what to expect if you’re buying or selling a house right now. 1. Housing prices in Seattle continue to rise. The Seattle-area market continues to hurtle forward like an exciting high-speed train. For the tenth month straight, the city’s August housing prices rose faster than anywhere else in the country. According to the Seattle Times, prices for the average single-family home are 13.4% more than this time last year. Additionally, for the first time ever, King County home prices grew by $100,000 in just a year. What does this mean for you, a potential buyer or seller? If you’re thinking about buying, it’s smart to buy now, as prices will only continue to rise. If you’re thinking about selling, it’s also smart to sell now, because you’re almost sure to get a great offer on your Seattle-area home. Contact Pickett Street today at (425) 502-5397 or info@pickettstreet.com for help buying or selling your home. 2. Why all this real estate growth? One word: Amazon. Amazon and its increasingly powerful economic force has chosen Seattle’s hip, creative environment as its home, and this…Read more
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How Owning a Home Builds Wealth
August 17, 2017 /Here’s something I wish I’d known in my early twenties: buying a home is one of the best ways to build wealth. In 2015, according to the Federal Reserve, the average homeowner’s net worth was $195,400, while the average renter’s net worth was $5,400. Perhaps you know all of this already and are wondering if buying a home is still, in the current economy, even after the 2008 housing crisis, one the best wealth-building strategies. The answer to this question is yes, and here are a few reasons why. 1. Owning a Home Builds Equity and Forces You to Save Home equity is an asset that comes from owning a home and represents one of the largest sources of net worth for most investors. In other words, equity is the portion of your home that you actually “own.” Of course, when you a buy a home you own all of it, but borrowing money to buy your property means that the seller still has an interest in it until you pay off the loan. Equity is essentially a form of wealth; you can eventually take out income or lump sum withdrawals from this asset, or you can pass it on…Read more
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Five Reasons You Should List Your Home Today
August 10, 2017 /You may have heard that it’s a seller’s market right now. However,you may also be wondering what exactly that means for you, the potential seller. Here's the rundown of the current seller's market and a few reasons why you shouldn't wait to sell your home. 1. Seattle is one of the hottest housing markets in the country. According to several different reports, Seattle’s real estate market is one of the hottest in the country for 2017. And the city of Seattle isn’t the only area that’s hot: King, Snohomish, and Kitsap Counties are all experiencing competitive real estate markets right now. 2. Inventory is low. There are currently more people looking to buy homes than there are people listing their homes in the Seattle area. According to the Seattle Times, inventory is down by 27 percent when compared to last year's numbers. This means that competition among potential buyers is high. Plus, this competition often results in bidding wars, which means that sellers are likely to receive more than the original listing price. About 75 percent of listed homes have received multiple offers this year, and 56 percent of homes are selling for more than the asking price. In several city neighborhoods, and…Read more
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Tips for Navigating Seattle’s 2017 Real Estate Market
August 9, 2017 /Seattle’s real estate market is on fire right now, and it’s easy to see why. Tech giants such as Amazon, Microsoft, and Expedia are creating healthy job growth, making the local job market one of the hottest in the country. Additionally, despite its growing costs, this urban area remains one of the more affordable west coast cities, especially when compared to Los Angeles and San Francisco. Not to mention, Seattle is just plain gorgeous. With these perks, Seattle one of the fastest growing cities in the county; the most recent data found that about 1,100 people are moving to the city every week (you heard me right--1,100 people per week!). So, how does one navigate this exciting and competitive atmosphere when buying or selling a home? Here are a few tips, along with more information about what to expect from Seattle’s real estate market in 2017. 1. Don’t Wait to Buy If you’re serious about buying a home in Seattle, now’s the time to go for it. Real estate professionals predict that the market will remain competitive throughout 2017 and beyond. According to the NW REporter, while there was a small increase in residential listings this past June (a 7…Read more
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Neighborhood Profile: Gold Creek
August 1, 2017 /If you’re like me, you might have trouble deciding where you want to settle in the Seattle area. With the city, the mountains, the Puget Sound and its islands, and the countryside full of farms and wineries, I am always wishing I could have five or six houses scattered around Washington. Luckily, however, there are places to live like Gold Creek. Gold Creek is a quiet neighborhood between Mill Creek and Snohomish, Washington. Nestled among the Cascade mountains and the Puget Sound, in one of the true centers of activity in Washington, this area is one of the most gorgeous and convenient places to live in the state. Vancouver, Canada is a little under 100 miles north, Seattle is 20 miles south, and the San Juan Islands and the Olympic Peninsula are just short ferry rides away. Neighborhood Stats As of 2010, Gold Creek had about 2,300 residents. While this neighborhood is small, it’s close to several exciting hubs, including Seattle ( about a 30-minute drive) and Everett (about a 20-minute drive). Because of its convenient location, Gold Creek is popular among families, couples, and single individuals who work in the nearby cities and want to enjoy a relatively short…Read more
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Common Architectural Styles for Seattle Homes
July 21, 2017 /When I was younger, my mother and I used to spend Sunday afternoons driving around looking at houses in pretty neighborhoods. At the time, we lived in a small home in the Des Moines/SeaTac area. Today, my mother has worked her way up to a beautiful rustic cabin-style home in Gig Harbor. However, when we get together, we still love to admire the gorgeous houses in Seattle and the way they look in the Northwest’s unique silvery light. If you’re interested in buying a home in the Seattle area, here’s a quick guide to some of the common architectural styles that you’ll see around the city. Be sure to contact Pickett Street at at (425) 502-5397 or info@pickettstreet.com to get started finding your home. 1. Victorian Often found around the Queen Anne neighborhood and mostly built during the 1880s and 1890s, these elegant homes are among the oldest in Seattle. Common features of this style include a gabled roof, scalloped shingle siding on the upper level, covered porches with round columns, and a round or octagonal turret. Check out this gorgeous, romantic, and renovated Victorian in Capitol Hill. 2. Tudor Built in Seattle through the 1930s, Tudor homes are known for…Read more
