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We Are Single-Family Homeowners, Hear Us Roar
Seattle is in a restive, unsettled mood. The economy may be humming along nicely, but something is out of kilter. Many residents are feeling crowded, too crowded, uncomfortable with the speed in which the city is growing, and convinced that developers are running the show. By a long shot, not everyone has bought into the urbanist vision of more bike paths, buses, street cars, and high-density projects with hot yoga studios, posh eateries and gastropubs on the ground level.
Amid all of this, along comes a recommendation by Mayor Ed Murray’s housing committee that says single-family zoning, which comprises 65 percent of all the land in Seattle, is outdated, unsustainable, an unrealistic vestige from the days of Ozzie and Harriet.
In fact, the draft report, leaked July 7 to Seattle Times columnist Danny Westneat, goes as far as implying that there is something inherently racist about single-family zoning – that such law-use restrictions (in which 65 percent of Seattle’s land is currently zoned) “has roots in racial and class exclusion,” as the report states, “and remains the among the largest obstacles to realizing the city’s goal for equity and affordability.” More.
Local Market Update June 2015
Home sales are booming, but the local market is starving for inventory. Areas close to city centers are particularly hard hit. Homes are selling within days, often for well over asking price. It’s an incredible market for sellers. If you’re considering selling your home, this is an excellent opportunity to get a premium price for your property.
- The number of closed sales (agreements that have been signed but not yet closed) in King County increased 15 percent over last May.
- Home prices continued their march upward.
- May was the seventh consecutive month of record-low inventory.
Nowhere is inventory tighter than in Seattle. The city has just two weeks of available homes on the market —37 percent less inventory than last May. Sales soared, and with more buyers competing for fewer homes, prices soared as well. The median home price jumped 14 percent to $559,950.
For the third month in a row, King County had less than one month of available inventory. (A supply of three to six months is considered balanced.) There were 21 percent fewer homes for sale in May as compared to the same time last year. That scarcity helped push home prices up almost 9 percent over last May to $480,942.
High demand and low supply pushed the median price of a single family home on the Eastside up 6 percent over last year to $655,000. Sales were up, further depleting the already limited inventory. With just one month supply of homes available, the Eastside remains a very strong seller’s market.
Where’s the Beef, Rainier Valley? 10 Places to Get a Good Burger
Article reused with permission from the Rainier Valley Post:
If the sunny weather has you craving one of America’s favorite comfort foods and you need a juicy, delicious hamburger pronto, then you’re in luck because we can’t think of a better way to celebrate National Burger Day than to share a list of the top 10 best burgers the Rainier Valley has to offer. What’s your fave?
1. Bent Burgers
Nearly a dozen different spins on the classic, including the Bent Burger (bacon cheese burger, hotlink, a fried egg sandwiched between two grilled cheese sandwiches), the Human Torch (pepperjack cheese, grilled habenero, jalapenos, red, green and yellow peppers) and many more. All are served with pickles, onions, lettuce, tomatoes and Bent house sauce on a fresh bun. (5100 S. Dawson St./206-760-0291) Lakewood/Seward Park
2. Jude’s Old Town Rainier Beach
The simplicity of the Jude Burger is its strength. Comes with a 6-oz natural ground chuck patty, tomato, white onion, lettuce and mayo on a Columbia City Bakery bun ($10). Add cheese ($1) or pepper bacon ($3); sub a Portabello mushroom for free. Served with fries or House Ranch Slaw. (9252 57th Ave. S./206-420-4889) Rainier Beach
3. Union Bar
Get the new Classic Burger with RR Ranch beef, lettuce, tomato, onion and special sauce ($11) or the Union Burger with RR Ranch beef cooked in garlic oil and topped with spring greens, tomato, caramelized onions, Swiss cheese and garlic aioli ($12). Add cheddar, American, Swiss, blue cheese or bacon ($1). Served with soup, mixed greens, tots or hand-cut fries. (5609 Rainier Ave. S./206-258-4377) Hillman City
4. Island Soul Restaurant
Only available during Happy Hour: the Classic 1/2-lb cheeseburger and fries served on Columbia City Bakery Brioche bread with lettuce, tomatoes, pickles, onions and side condiments ($8). Or the BBB Burger with beef? patty, Bob’s beef hotlinks and bacon served on Columbia City Bakery Brioche bread with jerk mayo, American cheese and one egg ($8). (4869 Rainier Ave. S./206-329-1202) Columbia City
5. Nate’s Wings & Waffles
Nate’s offers two Angus beef sliders per order with Tillamook cheddar, roasted red pepper aioli, brown mustard and mixed greens on a rustic potato roll from Macrina Bakery, or get it south-end style with a fried egg and your choice of a spicy hotlink or applewood smoked bacon. Extras for $1. Served with choice of salt and pepper fries or kale salad. (9261 57th Ave. S./206-722-9464) Rainier Beach
6. Rookies Sports Bar & Grill
Rookies serves up several different burgers, including a simple option with cheddar, lettuce, tomato, onion and special sauce for $13 (add bacon for $2); the Deluxe BBQ Burger ($15); Ridiculous Green Chile Burger ($13) and Mushroom Burger topped with bleu cheese and grilled onions ($14). Comes with choice of waffle fries, crispy fries or side salad. Sub a field roast burger at no charge. (3820 S. Ferdinand St./206-722-0301) Columbia City
7. Banana’s Grill
Delicious in its simplicity, the cheeseburger at Bananas Grill is served with fries ($6.99). For the same price, you can also get a Gyro, Falafel or Hawaiian burger or minis for the kids for just $3.99. (4556 Martin Luther King Jr. Way S./206-420-4839)
8. The Oak
Get the Minimum Wage Burger — a 1/3-lb Painted Hills natural beef patty served with arugula, tomato, onion and roasted garlic and chipotle aioli sauce ($10); or add another patty plus Tillamook aged white cheddar for the Overtime Burger ($15). Need a pick-up? How about a Stumptown Breakfast Burger with an Espresso-rubbed patty, bacon, egg, Havarti and caramelized onions ($15.25). All served on Essential Bakery’s hand-crafted bread with choice of frites or tossed greens. (3019 Beacon Ave. S./206-535-7070) Beacon Hill
9. Columbia City Ale House
Here you can get a fresh, lean ground beef patty, hand-formed and flame-broiled then served on a toasted Essential Bakery organic baguette with mayonnaise, mustard, sauteed onions and peppers. Served with a choice of side ($11). (4914 Rainier Ave. S./206-723-5123) Columbia City
10. Geraldine’s Counter
This Columbia City favorite makes a hand-formed, one-third-pound flame-grilled burger, on a potato bun with tomato, lettuce, aioli and homemade balsamic onion relish ($11.75). Don’t eat meat? Make it a garden burger. Add cheddar, Havarti, provolone, pepper jack or blue cheese ($1), avocado ($1.50) or bacon ($3.5). (4872 Rainier Ave. S./206-723-2080) Columbia City
Photo/Courtesy of Bent Burgers
NEW LISTING: Bright & Spacious Columbia City Home
New Listing: 4401 41st Ave. S.
Bright and spacious home in a great location with super walk-ability to public transit, tons of parks, Lake Washington and Columbia City. Freshly painted throughout, nice open floor plan with hardwoods on the main. Brand new carpet on the upper floor, plus new gas range, dishwasher and gas water heater. A lot more space than a townhouse but still low-maintenance, so more time for fun this summer!
Specs:
- Built 2003
- 1,960 Square Feet
- 3,029 Square Foot Lot
- Taxes: $4,091
- 3 big Bedrooms ( with ‘real’ closets )
- 2 full bathrooms + 1/2 bath
- Gas forced air
- Abundant natural light
- Gas fireplace
- Attached garage
Information provided as a courtesy only, buyer to verify.
List price: $439,950
Local Market Update May 2015
Continued strong demand has pushed home prices in King County over their 2007 peak. Faced with record low inventory and anxiety about rising interest rates, buyers are snapping up homes as soon as they come on the market. What is tough news for buyers is a boon for sellers. A recent analysis of home sales in King County showed that 41 percent sold for over list price.
- Both closed sales and pending sales (agreements that have been signed but not yet closed) in King County were up by double digits over last March.
- Home prices continued their steady rise.
- April was the sixth consecutive month of record-low inventory.
Seattle
Inventory continues to be a real problem in Seattle, with the city having just two weeks of available homes on the market. As a result, multiple offers with escalator clauses are now the norm. The number of homes sales were up 18 percent. The median home price increased 15 percent to $552,500.
Eastside
Both home sales and home prices on the Eastside rose in April. The number of closed sales were up by 15 percent over last year. The median price of a single family home was up 6 percent to $654,650. Stiff competition for homes was exacerbated by lack of inventory, with just one month supply available.
King County
April was the second month in a row that King County had less than one month of available inventory. (A supply of three to six months is considered balanced.) The number of closed sales climbed 17 percent over the same time last year. The median price of a single family home in King County rose 11 percent over last year to $480,000.
South Seattle Neighbor Builds Community With New Tool Library
Next weekend, Lakeridge neighbor Sally Bailey will host the grand opening celebration for the new, hyper-local non-profit organization she’s created in an effort to help build community and increase equity in the Rainier Valley.
The Southeast Seattle Tool Library — a new 501c3 nonprofit organized to provide loaned tools and a shared community workshop for southeast Seattle — will officially open its doors to the community on Sat., May 16, from 10 am to 1 pm. The library is located at 4425 MLK, Jr. Way near Genesee.
When asked what motivated her to make the tool library her life’s work, Bailey said other areas of Seattle have had tool libraries for years and years, so why not the South End?
But she didn’t stop there. Bailey gave us five great reasons why the south-end needs its own tool library:
- Tool libraries and community workshops bring people together to save the environment: Every tool borrowed is one that doesn’t have to be mined, produced, transported and purchased.
- Every tool shared builds resiliency and helps the community maintain itself.
- Every tool shared keeps money in the pockets of people so they can buy other necessities.
- How-to classes builds skills and confidence among folks who hadn’t been exposed to the tools and techniques.
- The world doesn’t need many more table saws. We do need more community. Helping each other is pretty easy. Let’s just do this!
This week, Bailey was kind enough to answer a few questions for your RVP’s People in Your Neighborhood column, a space dedicated to highlighting the unsung heroes of the southeast Seattle community. More.
This article was originally posted in the Rainier Valley Post and has been reposted here with permission.
Libraries on the Loose! Top 12 Little Free Libraries in SE Seattle
Have you noticed the over-sized bird houses popping up all over the community?
If you look a little closer you’ll see that they’re actually filled with books. Because they’re not birdhouses, they’re Little Free Libraries.
Little Free Libraries are small-scale book shelters that function as “take-a-book, leave-a-book” gathering places where neighbors can share their favorite literature and stories.
According to littlefreelibrary.org, the movement began in 2009 when a Wisconsin man built a model of a one-room schoolhouse as a tribute to his mother, a former school teacher who loved reading. He filled it with books and put it on a post in his front yard. His friends and neighbors loved it so much that he built several more and gave them away. Each one had a sign that said FREE BOOKS.
It’s no surprise that the idea took off in Seattle — once voted the nation’s most literate city. And the south-end is no exception.
Last year, the Rainier Valley Rotary Club started a project designed to expand Little Free Libraries throughout Hillman City and Columbia City, and there are quite a few scattered throughout the area. Below are a few of our favorites.
Top 10 Little Free Libraries in Southeast Seattle:
- 3422 16th Ave. S. near S. Hinds St., Beacon Hill
- 3307 Lafayette Ave. S. near S. Horton St., Beacon Hill
- 2107 29th Ave. S. near S. Walker St., Mt. Baker
- 5107 46th Ave. S. near S. Dawson St., Columbia City
- 3948 S. Hudson St. near 42nd Ave. S., Columbia City
- 5155 S. Othello St. near Rainier Ave. S., Othello
- 7032 Holly Park Dr. S. near S. Myrtle Pl., NewHolly
- 4859 S. Findlay St. near 51st Ave. S., Lakewood/Seward Park
- 5249 S. Graham St. near Wilson Ave. S., Lakewood/Seward Park
- SE corner of 46th Ave. S. & S. Lucille St., Lakewood/Seward Park
- 10053 63rd Ave. S. near S. Ryan St., Rainier Beach
- 10200 62nd Ave. S. near S. Ryan, Rainier Beach
Where is your favorite Little Free Library? This one is located at 4859 S. Findlay St. in the Lakewood/Seward Park neighborhood. Article and photo originally published at the Rainier Valley Post
Homebuyers beware: Seattle Beyond A Seller’s Market
If you’re thinking about buying a place, you’d best put that off for a while.
Redfin’s “Real Time Housing Market Tracker” report reveals that it’s not only slim pickings out there, it’s getting downright ugly in Seattle. The real estate agency reports that Seattle has the lowest inventory of homes for sale — ever.
In March, “Seattle (2.2) pulled even with chronically supply-starved San Francisco for the first time,” Redfin states.
Nationwide, Redfin reports that home sales went up just over 10 percent in March compared to last year, with new listings increasing by 9.2 percent: “Increased supply has so far kept competition and prices in balance…While 18.5 percent of homes sold above the asking price, that share is down year over year for the 17th month in a row. It was 19.5 percent in March of last year.”
The outlook is not so sunny in the Seattle area. In March, the median sale price for a home was $385,700, an 11.8 percent increase from last year at this time. Update from Redfin: “We consider the Seattle metro area as King and Snohomish counties, which is why the median price is lower. The median price for Seattle proper is in the $400,000s.” More.
Local Market Update April 2015
The spring real estate market definitely came in like a lion. Rising employment, low mortgage rates and very tight inventory have created a buying frenzy. Homes sold within days of being listed – often for over asking price – further frustrating buyers who are facing a serious lack of homes to choose from. Further adding to the problem, many current homeowners are reluctant to put their homes on the market for fear of being unable to find their next home. For the market to be healthy, something has to give.
- Both closed sales and pending sales (agreements that have been signed but not yet closed) in King County were up by double digits over last March.
- Home prices just keep climbing.
- March was the fifth consecutive month of record-low inventory.
Seattle
Slightly fewer homes sold in Seattle this March as compared to last year, as inventory just kept getting tighter. Seattle’s supply of available homes on the market fell to just over two weeks. There were about 23 percent fewer homes on the market compared to the same time a year ago. The result? Home prices in Seattle soared 19 percent over last March to $535,000.
Eastside
The number of closed sales increased by nearly 20 percent on the Eastside. Pending sales were up 16 percent. But with under one month supply of inventory, that frenzied sales pace can’t be sustained. In the meantime, it’s remains a seller’s market. Strong competition for a small number of homes drove the median price of a single family home up 5 percent to $632,554.
King County
Closed sales were up 18 percent over last March. Pending sales increased 16 percent. Month’s supply of inventory based on pending sales dropped to under one month. (A supply of three to six months is considered balanced.) The median price of a single family home in King County increased 6 percent over last year to $440,250.
Don’t Hold Your Breath for a Drop in Home Prices
There are certain things worth waiting for, but Seattle home prices to drop isn’t one of them. According to RealtyTrac, a national company that examines housing data, while Seattle wages continue to see steady gains, home prices are outpacing them by about three times. This means that it takes almost 34 percent of the median income to buy a median priced home in Seattle right now.
When asked about this trend, OB Jacobi, president of Windermere said, “Home prices in Seattle, especially in the core areas near the city, are becoming increasingly less affordable. As long as buyer demand outpaces seller supply, it is unlikely Seattle will see any improvement in affordability in the foreseeable future.”
But these conditions aren’t unique to Seattle. According to RealtyTrac, home price appreciation has outpaced wage growth in 76 percent of U.S. housing markets.
Head over to the PSBJ to read more.
