Zillow Reports Rentals Continue to Outshine Housing Market

According to Zillow’s Real Estate Market Report in February, the median price in rent had risen 2% since February 2011, and home values had continued to fall, dropping 4.5% during the same time period. Zillow’s Rent Index illustrated that the year over year gains for an estimated 68% of metropolitan markets measured by the ZRI, and only 8% of metro areas covered by the Zillow Home Value Indexsaw home values rise.

Seattle Rental In Leschi Neighborhood

Today’s rental market is continuing to heat up, with an emphasis on areas where home values have consistently been declining. Foreclosures have been at the forefront in keeping home values down, with foreclosure re-sales making up an  estimated 20.3% of all sales in the month of February. Zillow experts have said that we’ve made it through the worst of the housing market recession, but with the enormous inventory of foreclosures and unemployment are all still factors to overcome on the rise to recovery. For more information on rental listings in the Seattle area, visit Ewing & Clark and Craigslist.

Looking for a Unique Rental? Live in a Church!

If you’ve been searching for a rental unlike any other around town, check out this converted home on Ballard that was once an actual church! This quirky 6,300 sf Ballard landmark, located at 2007 NW 61st St is partially renovated for residential living quarters, and has that spooky haunted house/old spirits lurking around the church feel to it.

Photo Courtesy of RedFin

This 6 Bedroom, 3.25 bath is equipped with a bell tower, abandoned tricycles amidst the entryway and a relatively large attic space and can be your humble abode for $789,000. Find other listings in the Ballard neighborhood here.

Up and Coming Neighborhood for Renters & Buyers: Atlantic

The Atlantic neighborhood in Seattle, nestled in between Beacon Hill and Mt Baker is gaining popularity with younger home buyers and renters in recent months due to it’s convenient location, and up and coming amenities.

Not even five years ago, we remember when this neighborhood was experiencing mass redevelopment and construction of the 2nd I-90 bridge, leaving the Atlantic area is rubble, covered in a film of dirt. Left in the midst was abandoned housing, sky high dirt mounds and 23rd Ave S was closed to traffic. Today the neighborhood is home to trendy bars and restaurants like Dallas BBQ Soul Food & Catering and Farestart Cafe, has a light rail stop, is in close proximity to downtown and the Eastside, and has several trails for bikers and runners; even has it’s own dog park! The neighborhood started looking promising to buyers and renters a decade ago and today affordable pricing plays a huge role in the deciding factor.  According to the Seattle Times, in February this year the median value of all single family homes was estimated at $284,200, down 2.2% from the previous year. The median cost of rent in the neighborhood for a single family home was estimated at $1,674/mo, while apartments were estimated at $1,521/mo; up from the previous year, but significantly less than other areas around the city. If you’d like more information on for sale listings around the area visit Ewing & Clark, and find rentals around the neighborhood here.

Two Downtown Seattle Rentals- AVAILABLE

Ewing & Clark has two one bedroom rentals currently available at the Newmark Tower. One of the rentals is a completely remodeled  condo unit of the 23rd floor, south facing with beautiful view of Downtown Seattle and partial view of Puget Sound. Floor to ceiling windows to allow natural light all day long. Enjoy the view from the Juliet deck or from either the living room or bedroom. Parking and storage included with rent. The second unit is a 1 bedroom + den on the 7th floor. Building amenities include: 24 hour concierge and security, indoor pool, business center, fitness center, hot tub, sauna, and common deck. One block away from the Pike Place Market. To learn more information about these properties, please contact Ridge Marshall.

Stylish Loft in Pioneer Square – AVAILABLE

True loft in beautifully restored warehouse building located in Pioneer Square. This one of a kind Pioneer Square loft features soaring 11ft ceilings, wood plank floors, pivot windows, exposed brick and wide open spaces. Chef’s kitchen with granite counters, stainless steel appliances, gas range, and large island. Zoned Live/Work for residential or business use. A rare opportunity to live in a loft in historical Pioneer Square. Secure underground parking included. 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 1/1.75
List Price: $2,850/mo