Ewing & Clark - Seattle Real Estate Blog

Condominium property values were some of the hardest hit after the housing crash, with the typical condo in the U.S. losing a third of its value. But according to a recent Zillow survey, condos are finally making a long-awaited comeback and are appreciating more quickly than single-family homes in many U.S. markets, including Seattle’s.

According to statistics from the Northwest Multiple Listing Service (NWMLS), the median sales price for a condo in Seattle in October was $368,000, up 23 percent over the year, compared to an 8 percent price increase for single-family homes. Condos in many neighborhoods within the city saw much higher rates of appreciation. Prices increased by 55 percent in Southeast Seattle (Columbia City, Rainier Valley, Seward

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 By Ken Urman - Ewing & Clark, Inc

 

Parkwood Estates (Parkwood) is one of the oldest planned neighborhoods of Mercer Island. It consists of 52 homes on 53 lots, positioned on five separate blocks in the south central part of the island. The streets are 91st Avenue Southeast, Parkwood Lane, Southeast 54th Street, Southeast 55th Place, and Southeast 56th Street. The lots are mostly flat and home styles tend to be traditional, with circular driveways. Formal entry to Parkwood Estates is at Southeast 54th Street and Island Crest Way. With an ideal mid-island location and beautiful streets and homes, Parkwood is a very sought-after Mercer Island neighborhood.

Parkwood is bordered by Island Park Elementary School and a park to the west; by other

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Two Seattle-based companies, Porch.com and Redfin, recently teamed up to create a list of the nation's top places to own a home, and the Emerald City came in at number 10. They surveyed 10,000 U.S. homeowners and asked them to evaluate factors such as safety, climate, commute times, access to education, taxes, and real estate trends in order to rank the cities in their list. Redfin's real estate agents also gave input on their local markets. Not surprisingly, Seattle scored above the national average for economic opportunity (#7), healthy living (#8), and walkability (#19), and...climate? Well, we natives like the rain, at least. Seattle came in well below the national averages for security and safety, and also for real estate confidence, likely

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The S&P/Case-Shiller Index numbers for August were released yesterday, and after a July where we saw average home prices decrease by 0.1 percent in the Seattle Metro Area (King, Pierce, and Snohomish counties), prices bounced back and increased by 0.7 percent in August. On a yearly basis, prices in the area grew by 7.6 percent, coming in at number five on the list of cities with the highest yearly gains among the top 20 metro areas in the index.

Though prices in the Seattle are are still four percent below their peak, overall prices are showing steady growth and much of it is coming from a surprising sector of the housing market: condos. Zillow’s Chief Economist Dr. Svenja Gudell said in a statement that in the national market “…a good portion of the

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Living in Broadmoor offers residents the best of two worlds: in-city living within a quiet, secluded atmosphere. Just blocks from the shops and restaurants of Madison Park and Madison Valley, and in walking distance of the Washington Park Arboretum, Broadmoor is the ideal location.

This 1928 home available for rent is situated on the fairway of the Broadmoor Golf Course and offers a peaceful green view. Many of the 1920′s details are still intact, and this home is attractively decorated with pretty oak floors, classic rooms, and a covered porch. A one-car garage and basement offer plenty of storage.

This is a great opportunity to live in one of Seattle’s most sought-after areas! Please contact listing agents Betsy Terry and Jane Powers at Ewing &

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For those who have gone through the long and often stressful process of getting a mortgage, you are likely familiar with the seemingly never-ending stack of papers you’re required to sign on or right before your closing date. Sometimes buyers at the closing table may be faced with small changes that have been made to their loan terms, and oftentimes are pressured into making quick decisions. But new rules put in place by the Consumer Financial Protection Bureau that took effect October 3 aim to give buyers clearer information and more time before closing to review terms and ensure they aren’t surprised at the last minute. The new “Know Before You Owe” program also replaces the four previous disclosure documents (the Initial Truth-in-lending Disclosure,

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A home appraisal is a step of the mortgage process when an unbiased state-licensed professional determines a home’s value based on size, condition, function, and the quality of the home. To do this, the appraiser must first inspect the property. Then, by researching similar homes within the area and comparing recent residential sales, the appraiser will present their “opinion of value” with all supporting data and research used to come to their conclusion.

The appraisal process is important because mortgage lenders require an appraisal before they’ll provide a home buyer a loan. This is because the value of the property will likely determine how much a lender will lend. Lenders want to make sure that homeowners aren’t over borrowing, as the home

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Now available on Mercer Island, this award-winning home on desirable Forest Avenue boasts 5 bedrooms, 3 ½ baths, and 5,396 square feet of luxurious living space. Both formal and informal spaces, including a home office, bonus/media room, and family room offer ample space for both entertaining and relaxing. Three fireplaces will keep you cozy through the Northwest fall and winter. The updated chef’s kitchen features slab granite counters, double ovens, stainless steel appliances, a Sub-Zero refrigerator, and custom cabinetry, and offers quick access to an entertainment-sized deck.  Large windows afford views of surrounding greenery from almost every room, and the light-filled living room and den on the main level feature vaulted ceilings for an airy

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After the median selling price for a single-family home in King County dropped to $485,000 in July, prices bounced back to just a hair under $500,000 in August, representing a 14.4 percent annual gain, and the biggest yearly gain of any month in 2015. Inventory in King County was also up slightly from July, and now stands at 1.36 months’ worth of supply, the most inventory we’ve seen since February, according to statistics from the Northwest Multiple Listing Service. In contrast, median prices within the sub-market of Seattle stayed essentially flat last month, having dropped by just $500 from $575,500 in July to $575,000 in August. However, that is a 15 percent increase over August 2014.

Inventory in Seattle followed King County’s lead and increased

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Seattle is home to one of the nation’s highest homeownership confidence rates, according to Zillow’s recently released Housing Confidence Index (ZHCI), but our region’s soaring home prices could be causing renters to think twice about entering the home-buying market. According to a Zillow report, only two percent of renters in Seattle are planning to purchase a home in the next year, which is far below the national average of 11.4 percent and the lowest rate among the top 20 metro areas. Miami led all metros with 21 percent of renters planning to buy in the upcoming year, despite a healthy 8.9 percent year-over-year home value increase.

The Seattle Times cited another statistic from Zillow stating that even among renters making $90,000+ per year, 48

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