Downtown Condo Available For Purchase and For Rent

A luxurious 2 bedroom, 2.5 bathroom, plus den condo in the beautiful Madison Tower Condominiums in Downtown Seattle. Atop Hotel 1000, this southwest corner unit features sweeping views of the Olympic Mountains, the Puget Sound, and Seattle’s cityscape. Beautifully finished with top-of-the-line appliances throughout. Resort-style amenities available including:

  • Room Service
  • Full-Service Spa
  • Exercise Room
  • Library
  • Meeting/Conference Rooms
  • Virtual Golf
  • 24hr Concierge
  • BOKA Restaurant
  • Resident-Only Rooftop Deck
  • Valet Parking Available for 2 cars

Status Available for Purchase & Rent
Area Downtown Seattle
List Price Listing Price: $1,795,000

Rental Price: $7,500 a month

Bed/Bath 2 beds/ 2.5 bath

Rent or Buy?

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

rental

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. 

 

 

September Rentals Update

ridge downtown rentalSeptember rentals were only slightly lower than August this year in King County. The Northwest Multiple Listing Service data tells us that while there were 287 leased properties in August, September statistics are showing 281. This is only a small change as we enter the fall season. Among these rentals are two luxury penthouses in Bellevue. One of these rentals, a 4-bedroom, 4.25-bathroom penthouse of nearly 4,800 square feet, leased for $17,500 a month. The other luxury penthouse, just as stunning but with 3 bedrooms, 3.5 bathrooms and around 3,500 square feet, leased at a monthly price of $14,900. While these particular luxury rentals are at a distance from Seattle, there were still many other rentals available within the city itself, and all of them in a much lower price range. The NWMLS shows that 19 out of these 281 listings were located in central Seattle and the prices ranged from a low of $1,225/mo to a high of $6,500/mo. The median price for a rental in central Seattle was around $2,200 per month for a 1,200 square foot, 2-bedroom apartment. With this wide range of rental availability and rents slightly lower than summer there still many opportunities to find a King County rental that’s right for you. If you are interested in leasing a property or investing in Seattle or King County properties, please contact an agent today to get information on availability.

Madison Park Rental Home: $5,650/Month

Madison Park rental homem

This lovely one level Madison Park home sits in the quiet Canterbury location near Madison Park Shops, restaurants and parks. Amenities include easy access to Downtown, freeway and the Eastside. Beautiful finishes include oak floors, cathedral ceilings, and a new kitchen with family room. The fenced garden boasts lovely plantings and hot tub. This spacious home has an attached two car garage that also includes a large workshop. Gardening included. Prospective tenants will need first and last month’s rent, plus one month’s rent for the security deposit. If you’re interested in this or other Seattle rentals, contact your local real estate agent today!

Status: For Rent
Bed/Bath: 3/2.5
Price: $5,650/Month

Most Expensive Active Seattle Luxury Rentals

Although we usually profile and feature “run of the mill” luxury rentals, today I’d like to feature some of the most expensive active rentals on the market in Seattle and environs. We’re talking like… top 10. Yeah, the big kahunas. Not that the other’s aren’t enviable to say in the least!

10. $8,500

Located in Belltown, this property boasts not only views of downtown, but also Puget Sound and the Space Needle. With a gourmet kitchen, floor to ceiling windows, touch screen sound system, garage parking and two storage units. Listed by Joseph Kelly of Soleil Real Estate of Seattle.

9. $8,500

This contemporary Lake Union home boasts a 270 degree view of the water, heated floors, top of the line kitchen appliances and marble bath. This 1,000 square foot house was built in 2011 and has been on the market for 139 days and is listed by Scott Wasner of Sotheby’s.

8. $9,800

Want a penthouse? Who am I kidding, of course you do. And nowone is up for grabs! For rent at least. This 26th floor, 3,081 square foot residence boats three bedrooms and enormous 290 degrees of skyline, mountains, and water. Oak floors, maple cabinetry, gas fireplace, and a chefs kitchen. On the market for 44 days, this property is listed by Julia Tsurusaki with Pointe3 Real Estate.

7. $10,000

Out next most expensive property calls Mercer Island home. Originally listed at $12,000, this 3,880 square foot gorgeous waterfront home features a newly remodeled kitchen with an ensuite deck and jacuzzi tub (uh, that’s awesome). 85′ of waterfront with moorage and dock, two jets lifts and a boat lift. Nicely settled near some parks, what could get better? Not much, that’s what. Listed by Anthony Yap of TAG Realty.

6. $10,000

Tied at $10,000, this Laurelhurst home has only been on the market for a month. Fully furnished with views of Lake Washington, this 4,660 square foot contemporary northwest home comes with Laurelhurt Beach Club access. Offering five bedrooms and four bathrooms, it’s listed by Timothy Lenihan of Windermere Real Estate.

5. $11,000

Now, this one has me drooling. This unit is within the Four Seasons Private Residences Seattle. Two bedrooms and a den, valet parking, 24 hour security and concierge, mile high views, this 2,082 square foot overlooks the Great Wheel through floor to ceiling windows. With a gas fireplace and an ultra modern kitchen, it’s enough to make anyone go gaga. Listed by Scott Wasner of Sotheby’s.

4. $11,000

Another beauty at $11,000, the stunningly designed Arthur Erickson Highlands home is a looker. Having seen this sumptuous property myself, the views and grounds as well as the guest house, I can say will all certainty that it. is. worth. it. Listed by our own Betsy Terry of Our Distinctive Home Shop in Madison Park, this 7,470 square foot masterpiece is constructed  from polished concrete, with a glass ceiling. Mountain and sound views, and a Pemberley-esque (We got any Jane Austen fans out there? No? Just me? Okay) park off the swimming pool.

3. $12,500

Located in Hunts Point and built in 1995, this home is nestled on prime waterfront with lake, city, and mountain views. Designed by Curtis Gelotte, the house is nestled between manicured landscaping and old growth trees. With moorage and a dock, this 3,710 square foot home is full of natural wood and stone details, evoking the architectural style of the pacific northwest. Listed by Anna Riley of Windermere Real Estate.

2. $18,000

Another jewel of Hunts Point, this residence boasts a stunning Chihuly glass chandelier hanging from a sky-lit ceiling. This 3,000 square foot west-facing residence features rustic timers, posts, and beams embodies pacific northwest architecture and art. Listed by Tere Foster and Moya Skillman of Windermere Real Estate.

1. $20,000

Topping our list is a mansion in Clyde Hill. At 6,000 this european designed six bedroom, eight bathroom masterpiece was custom built in 2007. With a gated entrance and a large pool in the backyard, a large up to date kitchen, and an indoor jacuzzi. Listed by Robert Radulescu with The Force Realty.

Well folks, which one is your favorite??

Walkability Score- What is it and why does it matter?

Pioneer Square Pergola

Pioneer Square Pergola

Walkability- it’s a word that some of you may be familiar with already, and one that real estate marketing often uses. But what exactly does it mean?

Used by Walkscore.com, it’s intended definition is to indicate how easily and readily connected a property is to the neighborhood and community around it. For instance, is the nearest grocery store within easy walking distance? Or would it be necessary to drive there?

The higher a property’s Walk Score (or Transit Score or Bike Score) on a scale of 1-100, the more connected the neighborhood is with the property. Take this chart example. But what makes a community walkable?

  • A center: Walkable neighborhoods have a center, whether it’s a main street or a public space.
  • People: Enough people for businesses to flourish and for public transit to run frequently.
  • Mixed income, mixed use: Affordable housing located near businesses.
  • Parks and public space: Plenty of public places to gather and play.
  • Pedestrian design: Buildings are close to the street, parking lots are relegated to the back.
  • Schools and workplaces: Close enough that most residents can walk from their homes.
  • Complete streets: Streets designed for bicyclists, pedestrians, and transit.

Now, why is this score important? It’s generally known that those who walk more, whether it’s just a few steps or hundreds of steps a day are generally healthier than those who don’t. By walking more, not only do you get outside, but you also use your car less, and thereby reduce your carbon footprint. If you were able to find a property in a highly walkable area, you might be able to forgo the car altogether!

And here’s some great news: Seattle is rated as one of the most walkable cities in the U.S.! With a Walk Score of 71, a Transit Score of 57, and a Bike Score of 64, Seattle is the 8th most walkable city, with it’s most walkable neighborhoods being Downtown, the Denny Triangle, and Pioneer Square.

How important is the walkability of the neighborhood to you when looking for a new property?