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.

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?

Queen Anne Rental Condo: $2,295

Capture

This beautiful Queen Anne condo with stunning downtown skyline and Space Needle views is now up for rent. Located on the East side of Queen Anne Hill just steps from Bhy Kracke park, this condo provides the quiet environment of a residential street while being central to downtown and all Seattle has to offer. Included in the unit’s 1,100 square feet are a lavish master bath, walk-in closet, fireplace, and a wonderful terrace overlooking downtown. As an added bonus, secure parking is included with this unit. For more information on this condo or on other Seattle rentals, contact your local real estate agent today.

Queen Anne View Home – AVAILABLE

Seattle RentalThis Seattle rental sits on Queen Anne Hill with a sweeping view of Seattle’s magnificent skyline.  The home has been remodeled in keeping with the craftsman style.  The main floor has hardwood floors, a fireplace and a dining room open to the gourmet kitchen.  The upstairs has three bedrooms.  The basement is finished with an extra kitchen, bedroom, and family room.  The yard is fenced and private.  While some of the bedrooms are cozy, this is a great home for someone looking to live on Queen Anne and near Downtown and Lake Union – especially for easy access to the Gates Foundation and Amazon.

Click the link for more pictures and information on this Queen Anne Rental or look for the listing on Craigslist Seattle.

Status: For Rent
Bed/Bath: 5/2.5
List Price: $3,400/mo

 

Queen Anne View Home – AVAILABLE

Seattle RentalThis Seattle rental sits on Queen Anne Hill with a sweeping view of Seattle’s magnificent skyline.  The home has been remodeled in keeping with the craftsman style.  The main floor has hardwood floors, a fireplace and a dining room open to the gourmet kitchen.  The upstairs has three bedrooms.  The basement is finished with an extra kitchen, bedroom, and family room.  The yard is fenced and private.  While some of the bedrooms are cozy, this is a great home for someone looking to live on Queen Anne and near Downtown and Lake Union – especially for easy access to the Gates Foundation and Amazon.

Click the link for more pictures and information on this Queen Anne Rental or look for the listing on Craigslist Seattle.

Status: For Rent
Bed/Bath: 5/2.5
List Price: $3,400/mo

 

Elegant Eastlake Rental- AVAILABLE

This elegantly appointed 2 bed, 2.5 bath Eastlake condo also includes a den and has views of Lake Union and Downtown Seattle. From its sophisticated aesthetic to its steel and concrete structure, this home offers the finest materials and design. This newly painted condo has an amazing open floor plan with European hardwoods, 9.5 foot ceilings, and gas fireplace. The kitchen contains stainless steel appliances and granite counter-tops. The condo has over 30 feet of roof top deck with full Western Views.  Please follow the links to find full listing details and photos of the home, check out Craigslist Seattle or search other Seattle luxury rentals.

Status: For Rent
Bed/Bath 2/2.5
List Price: $3,499/mo

Elegant Eastlake Rental- AVAILABLE

This elegantly appointed 2 bed, 2.5 bath Eastlake condo also includes a den and has views of Lake Union and Downtown Seattle. From its sophisticated aesthetic to its steel and concrete structure, this home offers the finest materials and design. This newly painted condo has an amazing open floor plan with European hardwoods, 9.5 foot ceilings, and gas fireplace. The kitchen contains stainless steel appliances and granite counter-tops. The condo has over 30 feet of roof top deck with full Western Views.  Please follow the links to find full listing details and photos of the home, check out Craigslist Seattle or search other Seattle luxury rentals.

Status: For Rent
Bed/Bath 2/2.5
List Price: $3,499/mo

New Scam in the Seattle Apartment Market

According to the Seattle Times, there’s a new scam in the housing market. Online scammers advertise listed homes and foreclosed properties as for rent on popular rental websites such as Craigslist, with potential renters sending a deposit before receiving the keys. Be wary if the deal looks to be good to be true and/or the “property manager” asks you to wire funds through Western Union or Moneygram without letting you see the rental unit. For more details and tips, please read the article here.

Seattle Apartment Construction Improving Seattle Housing Market

Due to the influx of apartment construction, 2011 will be the first year since 2007 where housing construction will help the economy grow. There has been a surge in apartment construction, as signaled by the cranes in Ballard and South Lake Union, as well as an increase in permits, signaling future construction in Seattle.

For every new home that is built, it creates three jobs and adds $90,000 in taxes. For more details, read the Seattle Times article.

Seattle Apartment Construction Improving Seattle Housing Market

Due to the influx of apartment construction, 2011 will be the first year since 2007 where housing construction will help the economy grow. There has been a surge in apartment construction, as signaled by the cranes in Ballard and South Lake Union, as well as an increase in permits, signaling future construction in Seattle.

For every new home that is built, it creates three jobs and adds $90,000 in taxes. For more details, read the Seattle Times article.