Soaring Rental Home Market Could be Good for Renters

Photo credit: www.third-estate.com

Photo credit: www.third-estate.com

More and more rental homes in the surrounding Puget Sound are becoming owned and managed by big investors and hedge fund companies; could this be a step in the right direction towards home-ownership for renters? According to the Seattle Times, a National study suggests yes! A study by Wall Street Analysts suggested that somewhere between $7 billion and $9 billion dollars in distressed family homes have been purchased over the past 5 years, and turned into rental homes by these big name investors. Unlike your average ‘mom and pop’ rental investor, these guys are buying dozens and on occasion hundreds of properties at a time through short sales, foreclosures, etc.

Although single family rental homes have always been a part of the rental scene, the involvement of these large scale companies is really allowing the category to take off. According to a different study,  single family homes account for 52% of all rental units in the country; 27% of all renters nationwide. The study also suggests that the boom in rental homes isn’t just a good opportunity for first time home buyers, but also those affected by the bust. About 60% of rental home tenants have expressed interest in buying in the next 5 years, compared with 44% of apartment and multifamily building renters. The study’s synopsis showed that single family rental homes are going to continue to be a growing part of the housing market, and a safe bet for future home buyers. For more information on the study, visit the Seattle Times.

Leschi Rental – Available

Seattle RentalRemodeled Leschi cottage available for lease starting December 1st. The Leschi home has been updated with double-pane windows, new electrical, plumbing, and A/C to cool both up and downstairs.  Upstairs the property includes two bedrooms, a bathroom featuring a granite, tile & heated floors, and French doors opening to a deck with garden views. On the main floor, oak floors and crown molding in living and dining rooms.  The kitchen has heated tile floors, granite counters & added storage. French doors off the back of the house lead to a deck drenched in Wisteria. The daylight basement includes a third bedroom, another bathroom and laundry room. The outside includes a fenced back yard and parking for up to four cars.

The Leschi rental is located just above Leschi Park and just north of Frink Park.  Strolled down the old cable car trail through Leschi Park to Lake Washington and the Leschi business district or travel to Downtown Seattle within 15 minutes.

Address: 112 32nd Ave South
Status: For Rent – Available December 1st
Bed/Bath: 3/1.75
List Price: $2,250

Please contact Nate Pearson if you are interested in this Seattle rental.

Seattle Designer Gives Her Tudor a Makeover

When Seattle Designer Judy Tall finalized her divorce, she packed up her belongings in Mercer Island and began the move to her newly purchased Tudor in Denny Blaine. According to the Seattle Times, she fell in love with the neighborhood and her master bedroom with an abundance of natural light, but wasn’t 100% sold on the rest of the place. She waited a year before remodeling, and says that “you have to know how you live in a house, and what works and what doesn’t.”

Photo Courtesy of Seattle Times, Tall’s expansive master bedroom

Before Tall became an interior designer she was an acupuncturist, and tries to brings elements of healing into play with her design concepts. She told the Times that whether you’re moving into a new space, or someone recently moved out or in, there are several emotions that come into play when redesigning or remodeling your home. Tall said that a large portion of her clientele chooses to remodel because they’re going through a life transition, and that’s just what she was going through when she decided to redo her home in Denny Blaine. From her choice in tranquil paint colors, to the picture rail below the coved ceiling, Tall tried to make each and every room in the place more cozy and comfortable for her to live in. She believes that every change serves a purpose, and should bring great joy to a living space. For more information about her Tudor design, visit the Seattle Times.

Stunning Leschi Home w/ Views – RENTED

This beautiful Craftsman-style Leschi home with sweeping Lake & Mountain views was just rented by Ewing & Clark, Inc. This rental featured a main floor-living room with gas fireplace, formal dining room with access to view deck, kitchen with granite counters and top appliances, family room off kitchen with sliders to rear deck and yard, half bath and gleaming hardwood floors throughout. Please contact Garrett McGuire or Nate Pearson if you would like assistance in renting your home.

Status: Rented
Bed/Bath 5/3.5
Last List Price: $3,295/mo

Stunning Leschi Home w/ Views – RENTED

This beautiful Craftsman-style Leschi home with sweeping Lake & Mountain views was just rented by Ewing & Clark, Inc. This rental featured a main floor-living room with gas fireplace, formal dining room with access to view deck, kitchen with granite counters and top appliances, family room off kitchen with sliders to rear deck and yard, half bath and gleaming hardwood floors throughout. Please contact Garrett McGuire or Nate Pearson if you would like assistance in renting your home.

Status: Rented
Bed/Bath 5/3.5
Last List Price: $3,295/mo

Stunning Leschi Home w/ Views – AVAILABLE

This beautiful Craftsman-style Leschi home with sweeping Lake & Mountain views is available for rent. This home features main floor-living room with gas fireplace, formal dining room with access to view deck, kitchen with granite counters and top appliances, family room off kitchen with sliders to rear deck and yard, half bath and gleaming hardwood floors throughout. Four good sized bedrooms upstairs including master suite with big lake views, 5-piece bath and walk-in closet. Lower level with bedroom and bath, bonus room and attached 2 car garage. This Leschi home has some of the most breathe taking views you could ask for in a rental. Please follow the links to find full listing details and photos of the home, see Craigslist Seattle ad, or search other Seattle luxury rentals.

Status: For Rent
Bed/Bath 5/3.5
List Price: $3,295/mo

 

Stunning Leschi Home w/ Views – AVAILABLE

This beautiful Craftsman-style Leschi home with sweeping Lake & Mountain views is available for rent. This home features main floor-living room with gas fireplace, formal dining room with access to view deck, kitchen with granite counters and top appliances, family room off kitchen with sliders to rear deck and yard, half bath and gleaming hardwood floors throughout. Four good sized bedrooms upstairs including master suite with big lake views, 5-piece bath and walk-in closet. Lower level with bedroom and bath, bonus room and attached 2 car garage. This Leschi home has some of the most breathe taking views you could ask for in a rental. Please follow the links to find full listing details and photos of the home, see Craigslist Seattle ad, or search other Seattle luxury rentals.

Status: For Rent
Bed/Bath 5/3.5
List Price: $3,295/mo

 

Leschi Contemporary Masterpiece – AVAILABLE

This Contemporary Leschi rental nestled against a beautifully forested hillside located on 33rd Avenue is now available for rent. The home features a spectacular rooftop terrace with panoramic Lake Washington and Cascade mountain views. Just steps to the waterfront, Seattle parks, Leschi restaurants and shops, and minutes to Downtown Seattle. Hardwood floors throughout. Radiant heat. Commercial grade elevator. Security system. DMX landmark system w/touch panels to control lighting, music, etc. from each room. Gourmet kitchen with slab granite counters and top appliances. Sumptuous five-piece master suite in marble.  Please follow the links to find full listing details and photos of the home or search other Seattle luxury rentals.

Status: For Rent
Bed/Bath 4/3.5
List Price: $5,500/mo

Leschi Contemporary Masterpiece – AVAILABLE

This Contemporary Leschi rental nestled against a beautifully forested hillside located on 33rd Avenue is now available for rent. The home features a spectacular rooftop terrace with panoramic Lake Washington and Cascade mountain views. Just steps to the waterfront, Seattle parks, Leschi restaurants and shops, and minutes to Downtown Seattle. Hardwood floors throughout. Radiant heat. Commercial grade elevator. Security system. DMX landmark system w/touch panels to control lighting, music, etc. from each room. Gourmet kitchen with slab granite counters and top appliances. Sumptuous five-piece master suite in marble.  Please follow the links to find full listing details and photos of the home or search other Seattle luxury rentals.

Status: For Rent
Bed/Bath 4/3.5
List Price: $5,500/mo

To Buy or To Rent…That is the Question

Seattle RentalTo buy versus rent always has been a question generally best answered on an individual’s situation.  It used to be that renting had a stigma attached to it but that is no longer the case.  A recent article looked at the numbers and determined that it is better to buy than to rent in many of the U.S. cities, but Seattle is not one of them.  The article pointed out that it is still “better” to rent in Seattle versus owning.  According to the article, both San Francisco and Seattle are 24 times the annual rent to purchase a home.  So if it costs $1,500/month times 12 months equals $18,000 annual rent.  Thus $18,000 annual rent times 24 equals a purchase price of $432,000.