Rental Re-Design Tips!

Many Seattleites are choosing to rent out their home rather than selling. At times renovations and revamps can be too pricey for home owners when wanting to get the most out of selling their home. Many homeowners are looking to keep their home in their family for future generations. Whatever the case may be it can be difficult trying to make a home feel like yours. Some landlords wouldn’t mind you to do a little decorating, but some might.

With customization options at a minimum, apartments/houses often never quite feel like home for many renters. Living with your landlord’s choices for wall colors, flooring materials and finishes can leave renters feeling dissatisfied with their surroundings. But there are some things you can do to make one of the most important rooms in your rental – the bedroom – feel less like a hotel and more like your own restful and relaxing retreat. Using some inspiration from the designers at Zillow, here are some ideas:

To start with, overhead lighting in apartment buildings is usually not the most flattering, but since you most likely can’t change the main fixture in your rental, invest in table lamps or floor lamps to give your bedroom a nice glow.  Stylish lamps can often be found inexpensively at stores such as Target or TJ Maxx.

Giving walls a fresh coat of paint is one of the cheapest and simplest ways to personalize your bedroom, but many landlords are not ready to let you wield a paintbrush of your own. Check in with them first, and if you get the go-ahead, a soft grey or classic white will give you a serene space that is also a blank canvas for the rest of your personal touches.

Once you’ve painted, pick up some new bedding in your favorite color palette to add some interest to the room. Along with a nice set of sheets (Target also carries inexpensive sets that feel much more luxurious), you have an opportunity to make a statement with your duvet cover and unique throws and pillows.

Can’t paint your walls? Paint your furniture or add some adhesive wallpaper! Take an old, tired dresser, give it a good sanding and dress it up with whatever color paint you’d like. Paint the whole thing, just the legs, just the top, it’s up to you! Heavy, dark furniture tends to weigh a room down, especially if there is little natural light, so adding some color in the form of furniture can be a major upgrade and is budget friendly. Temporary wallpaper is all the rage for rentals. Do your research and find the best temporary wallpaper! Check out Pinterest for inspiration!

Now you’ve got some ideas, so get decorating!

If you are interested in renting in the Seattle area, contact your local real estate agent today!

Seattle Homes for Rent

If under 2,000 square feet isn’t enough for your next rental, then check out these homes for rent! These homes both have lots of windows to let the much needed sunlight in, and places and spaces to soak it up!

The Highlands

Spacious modern stucco residence in beautiful private setting amongst impressive conifers & magical landscape. Fine teak millwork accentuates the contemporary design & open, rich architecture. Vestibule with round atrium window is a striking venue for art display, and opens into the main floor rooms with floor to ceiling windows. Huge kitchen, five expressive fireplaces, private master suite, lower level with perfect game room & guest suite. Pool, sport court, fountain, just in time for summer!

Available for $9,500
6 bedrooms / 5.25 bathrooms
9,010 square feet

The Highlands: 149 Moss Road NW, Shoreline (MLS# 1088538)

North Capitol Hill

Stunning craftsman on North Capitol Hill. Wood floors and natural daylight throughout. Excellent woodwork, recently renovated kitchen with granite countertops top-of-the line appliances w/east-facing views of Portage Bay. Master bedroom includes fireplace, &luxurious master bath. Lower include separate entrance with second kitchen.

Specific Rental Requirements:

  • All 18 and over applicants must apply
  • Min 750 credit score
  • No co signs
  • 2 car max
  • No negative references
  • No late payments

Available for $6,200

5 bedrooms / 3.5 bathrooms

3,960 square feet

North Capitol Hill: 2818 Broadway E, Seattle (MLS# 1067866)

Seattle Named 5th Most Expensive City In US, But Is Not Most Expensive City In Washington

It’s not a news flash that the real estate scene in Seattle has exploded in recent years. The Emerald City has gone from a town most people outside the state only associated with coffee and flannel, to the tech capital of the US (save for our friends in Silicon Valley). As home to some of the biggest tech names in the world and a booming job market to match, it’s fair to say there’s might not be enough housing to meet demand. Or, at least to meet demand AND your budget.

High rises, apartment buildings and condos are going up all over the city, and soon, our beloved skyline will be dotted with more and more buildings and towers, making the Seattle of just 10 years-ago look almost unfamiliar.

Seattle has recently made headlines as one of the most expensive places to live, get this, in the world. That’s right, recent data has placed Seattle’s rent rates at 5th highest in the nation and, supposedly 9th highest in the world! However, San Francisco and New York still dwarf us, tying for number one most expensive, world-wide.

Those of us who are Seattle Natives know that the average rental rate in Seattle has increased fairly dramatically in the last few years, but it’s interesting to note that, while Seattle’s rents have been on the rise, they don’t quite top the list of highest rents in the state.

According to recent data from Apartment List, Seattle ranks at number 5 in the state for highest rents, with the average monthly rent for a one-bedroom apartment at about $1,650.

Surprisingly, Mercer Island tops the list of cities in Washington for highest rents. A one-bedroom on Mercer Island goes for an average of a whopping $1,890 per month. No one said Island living was cheap, I suppose.

Filling in the gaps between number 1 and number 5 on the list are Bellevue at number 2 with an average of $1,860 per month for a one-bedroom (not a whole lot lower than their neighboring Island), Redmond at number 3 with an average of about $1,690 monthly rent for a one bedroom and Kirkland at number 4 with an average monthly rent of $1,660 for a one-bedroom.

Seattle and the Eastside are not the only places in Washington with rising rent rates. Tacoma tops the list nation-wide for fastest growing rent with a year-over-year growth rate of 7.7 percent. Seattle comes close, but not close enough to that figure with year-over-year rental rate growth at 5.3 percent.

Staggering growth aside, Tacoma is still a bargain in the rental market compared to Seattle, with a one-bedroom in Tacoma going for an average of $1,000 per month. For those of you keeping score, that’s a savings of $650 compared to Seattle.

But, proving that some things really don’t change, the cheapest places to live in the Evergreen State are still East of the Cascade Mountains. You can get a one-bedroom for only $600 per month in Walla Walla and it’s not much pricier in the State’s second largest city, Spokane, at around $630 per month.

What a difference a mountain range makes…

Seattle Rental Market – 2016 in Review

Seattle RentalThe Seattle rental market has continued to see increasing rents in 2016 over 2015, although as we wrote last month Seattle rents have shown signs of slowing or even going down towards the end of the year.  Seattle rental numbers cannot be gathered from one source.  When looking at the Northwest Multiple Listing Service (NWMLS), the number of rented homes, the average rent, and average rent per square feet in Seattle all went up.  The NWMLS showed 1,094 vs 1,071 Seattle rentals in 2016 and 2015 respectively.  The average rent increased to $2,752 vs $2,588 from the prior year with the average rent per square feet increased to $2.38 from $2.00.  The NWMLS is mainly rentals from individual owners and does not include large Seattle apartment complexes.  In Downtown alone there was 20 new Seattle apartment buildings in 2015, 14 underway or completed in 2016, and 27 dues to be completed in 2017.  Thus the NWMLS is only a small portion of Seattle rentals.

The above picture property is a Seattle rental located on the north-end of the Pike Place Market.  The one bedroom, one bathroom condo has unobstructed views of the Sound, Market, and the Wheel. It is available for $3,675.

Click here to search the NWMLS rental listings or contact a Seattle leasing agent to assist you.

These statistics were gathered from the Northwest Multiple Listing Service, but were not compiled or published by that organization.

1904 Denny Blaine Rental

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A sun-filled, perfectly stunning home in picturesque & desirable Denny Blaine. The home was built in 1904 and has been completely remodeled since, featuring an excellent floor plan,  finish work & beautiful windows. The living room with oak floors and large windows on all 3 sides make the home feel bright and refreshing. The home offers a sun room, stately dining room, and an all new kitchen with garden access. The home is family friendly with two excellent playrooms, a guest suite, storage, and mud room. Lush grounds with a sweeping lawn surrounded by roses, lavender, graceful cedars, fig tree, and lilacs. A truly beautiful setting. Available now for $9,750 a month!

Click the link below for more info!

http://www.ewingandclark.com/dennyblainerental

January Rental Report

Jac_004According to the Northwest Multiple Listing Service January’s rental statistics are showing some promise for 2016. So what does the housing market have in store for homeowners and investors in King County? The 2015 year ended with a small drop in rentals with December showing 209 homes rented – less than the previous month. These numbers then started to climb in January to 219 properties leased. Setting the stage for a strong season in rentals. The median price in January for a rental was around $2,400/mo for a 2 bedroom, 2 bathroom, condo in Seattle. The Highest-priced rental on the MLS was a beautiful 6 bedroom/6 bathroom, Tuscan Estate leased for $12,000/mo. This estate was on the Market for only 44 days, showing us that renters who can rent at the top on the market are out there, and are ready to strike if they find the right place. These homes and many more can be found through your local real estate agents. To find out how much equity you might have in your home or how you can invest in real state contact an agent today and get the ball rolling.

Seattle Ranked Among Highest Rent Paying Cities

for-rent-signIt’s no secret that Seattle is one of the hottest cities in the country for young adults in their 20’s and 30’s and beyond. That’s not surprising information given the influx of tech related jobs with popular companies such as Microsoft, Amazon, Apple, Expedia and many more in and around the area. Add to that a fabulous art and music scene, incredible restaurants driven by award winning chefs and breath taking views, and you’ve got a recipe that has had more young people moving to the Emerald City than ever before.

In spite of  this consistent growth in the city, Seattle has still managed to elude Zillow’s annual Top Ten List of highest rent paying cities in the country,  instead sitting pretty for the last 4 years at #13. That is, until now. Seattle has placed at #10 on the list for 2015, knocking Philadelphia out of a spot it has firmly held on to for the past 4 years. That means that the Big Kahuna of the PNW is up there with the likes of New York, Chicago and Los Angeles, to name just a few.

Perhaps surprisingly for some, the list states that Seattleites paid a whopping $10.2 Billion (yes, you read the right) in rent between November 2014 and November 2015. Couple that with the estimated 20,000 more people who found employment in that time and it starts to make sense, and while it may be easy and even logical to assume the tech boom is responsible for all this, it’s not alone.

Tech companies have experienced a 5 percent increase over the last year, which is nothing to sneeze at, but it’s the construction industry that takes the cake, with an estimated 6.7 percent increase over the last year. Developers in Seattle have been rushing to meet the housing demand of the city (with 10,425 apartment units recently completed or under construction and about a 25 percent increase in apartment inventory over the past three years), but it’s not likely to be quite enough or to help ease rental prices.

“It’s unlikely we’ll see any real rent relief in Seattle any time soon,”  said CEO and co-founder of Cozy Gino Zahnd. “While there’s plenty of new construction, these projects tend to focus on luxury units. Nationwide, we aren’t seeing many new units targeted at middle-income earners.” And though Seattle has plenty of high earners eagerly looking for housing, Zahnd says “Demand will likely remain high, as long as Seattle’s biggest employers continue to expand,” and notes that it’s unlikely we’ve reached a point of saturation, particularly on the high end.

Zahnd also points out that while the construction boom has brought many new jobs to the city, it is unlikely that these construction workers are living in the high-end luxury units they’re building. “Sure people are coming for these construction jobs, but are they living in the luxury high rises they’re building?” he said. “Even with no data, I’m almost certain they are not.”

In any case, with all these new jobs, a housing boom and being ranked among the countries ‘Big Boys’ for the first time, it seems Seattle is finally beginning to be taken seriously as one of the major cities in the country, a fact locals have know for quite some time.

End of Year: King County Rental Report

DT View 1521This December, 204 properties leased according to the Northwest Multiple Listing Service. King county had a 8.9% decrease in properties from the previous month. The highest priced property leased for $6,500/mo. This Luxury condo was a 2 bedroom, 2 bathroom 1,968 square foot unit in a desirable downtown location on 2nd Ave between Pike and Pine. On the contrary, the lowest priced 2 bedroom, 2 bathroom condo leased on the MLS was a 965 sq ft condo in Kent, it rented for $1,200/mo. The luxury condo spending three times the amount of time on the MLS database before it rented.

MLS data shows that 240 properties leased in Dec 2014 compared to Dec 2015’s 204 properties, a 15% decrease in leased listings from its previous year.

Lets do a quick analysis of the rental market in 2014 compared to 2015. The twelve months of 2014 shows 377 more properties leased than in 2015.  3,579 listings rented in 2014 compared to the following year’s 3,202. That’s a 10.5% decrease than the year before. Rental prices have increased over the years and inventory has gone down quite a bit. This change in the market can make it hard to find a reasonable rental in King county on your own. If you are looking for assistance contact a licensed professional who can help you with the latest market updates and find you fact access to the best MLS rental listings. Please contact an agent today with your real estate needs. 

 

 

November Rentals Update

eastlakeSeattle’s King County rents have shown a decline in November compared to the previous month. Looking at the MLS database we see that 224 properties listen on the MLS have rented, with many of them being in a higher than average price range. It is a positive sign for investors across the city to know that even even after the rental increases that have been sweeping the city in previous months, Seattleites are still finding homes among some of the the highest priced rentals on listed with the Northwest Multiple Listing Service. In the month of November for instance, the highest-priced residential property that leased was a 3 bedroom 3.5 bathroom penthouse in Bellevue. The luxury penthouse consisted of over 3,000 square feet of luxury living space and went for $13,390 per month. The MLS database shows that while in the past three months only a handful of rentals with such prices have leased, there are still many others between $2,000-$4,000 that also rented. The average price of a rental in November was approximately $3,000/mo. If you are interested in how this upcoming season of Seattle’s rental market can serve you, please contact a realtor today.

Featured Rental: Mt. Baker Sweet Sophisticated Craftsman-Style Home

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This updated classic Craftsman-style home, located in Mount Baker offers sweet sophistication and a stately influence to its quite residential neighborhood. Outlined with a white picket fence, the home is situated at the corner of a well maintained residential block.

 

Wrapped in lush foliage, there is a private garden as well as a beautiful back patio, perfect for entertaining. The home’s generous rooms are flooded with light and updated with thoughtful touches like crown molding, trimmed windows, and gorgeous hardwood floors throughout. 867188-rental-bmpziz-o

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Nestled behind the house, is a charming office/studio space with vaulted ceilings and wonderful exposed beams. With windows on all sides the studio allows for an abundance of natural light, along with tasteful overhead lighting for nightfall.

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Mount Baker is an excellent neighborhood with a thriving active community. Events such as festivals and concerts in the park, art walks, and holiday parties are often spearheaded

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by members of the community and are open for all to join. In this family friendly neighborhood, it’s not uncommon to across a lemonade stand or have a Girl Scout knock on your door. With views of Lake Washington, it’s a great place to get in on the excitement and watch the theatrics of Seattle’s annual Seafair.