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

Tech Cities See Rise in Rent and Residential Costs

Madison park rental

Madison Park Rental

If you rent in Seattle, your pockets have certainly felt the rise in rental rates over the past few years. According to a report by Trulia, so have renters in other large tech cities. After dissecting housing reports Trulia found that prices were generally 82% higher in big tech hubs compared to other large metro cities. While engineers and and highly paid coders are well paid in the industry, the cost of living increase is still making it difficult to afford to live in these cities and bridge the affordability gap. According to the report, 48% of homes listed in these tech cities were affordable to the middle class based on the median household income, compared to 63% listed in other metro areas.

There are also huge variances even in affordability among the big tech hub cities: 14% of homes in San Francisco compared to over 60% in Washington DC and Raleigh. The big year over year increases in asking price were up in the top 10 tech cities, with a high rise of 24.4% in Oakland, and a low of 6.5% in Raleigh. Seattle’s asking price was up 16.6%, which was above that is San Francisco and San Jose. The rise in rent has also been prevalent in these tech hubs, with a standard 2 bedroom renting for over 37% more than in metro cities, and a year over year rise in Seattle has seen a 9.2% increase. If you’re looking for affordable housing in the Seattle area, contact your local real estate agent today.

Seattle Ranks #3 in Best US Cities for Dogs

The month of May is National Pet Month, and in an urban pet-loving city like Seattle, we’re highly set in our pet pampering ways. In a study conducted by the Estately blog, Seattle ranked #3 in the best US cities for our furry friends. Although Seattle doesn’t have as many sunny days as San Diego (ranked #2) or even Portland (ranked #1), we make up for it with our culture and communities committed to happy healthy pets. It may surprise some (but not most) to know that in recent years, Seattle’s dog population within the city limits has surpassed it’s children, and unlike many other fun loving dog cities, we even let our dogs ride on most public transportation; metro buses, ferries, light rails, and local seaplanes! dogs

Along with the growing number of off-leash dog parks we have spread across the emerald city,  owners can check the Seattle Dog Spot calendar for weekly activities, stop in and buy treats or toys at locally owned MudBay,  or if you’re going on an adventure, REI sells over 150 products dedicated to dog-related outdoor activities! For Seattle rentals that accept your furry friends, contact your local real estate agent today.

Walton Loft Apartments Coming to Belltown

The Schuster Group has scooped up land on the corner of First and Vine, and is planning a 132 unit 12 story apartment complex, with 75 underground parking stalls. Walton Lofts will be right across the street from the Millionaire’s Club, Bang Bang Cafe, and a hop skip and a jump to the Belltown Cottage Park (which played a role in the building’s design process) and Rudy’s Barber Shop.

Photo courtesy of the Schuster Group

Photo courtesy of the Schuster Group

The land is currently a parking lot at the corner of Vine Street, and VIA Architecture and Shoesmith Architects are the building designers. Vine street has been designated a “green street” along with 16 others around town, non arterial roads that are designated to providing pedestrian gathering spaces, and more trees and landscaping than other city blocks. Walton Lofts is planning to have trees and shrubs on site, and wider sidewalks along Western to create more hang out areas. For more information on the project, visit the Daily Journal of Commerce.

Seattle Ranks High in Best 2013 Real Estate Markets

The nation’s real estate market is slowly recovering after the long haul, and 2013 is said to be the year for a turn around. According to the Seattle Pi, San Francisco is predictably the top city, but shortly behind with a secondary market is our very own Seattle. Investors are leaning towards Real Estate because despite the slow recovery they are still able to profit.

The Emerging Trends in Real Estate Report by the Urban Land Institute indicated that San Francisco landed the # 1 spot due to tech, trade, and quality of life in the city along with neighbor San Jose which ranked 3rd on the list. Seattle, along with Houston, was highly ranked because of the growing number of “echo boomers” or those 25-34 year olds. This group has increased by 20% in Seattle, and reflect the future homeowners in the area. Right now the statistics show that this group is currently willing to rent smaller apartments for higher prices as long as they have enticing amenities and close proximity to public transportation. When will the echo boomers make the transition to buyers? Predictably 2013. For more information on the Emerging Trends report, visit the Urban Land Institute.

Zillow Reports Home Values See High Monthly Increase

Attention Homeowners: there is hope after all for your beloved family home that holds more personal value than net worth! Last week, Real Estate website Zillow reported that both national home values and rent both rose in the month of April. According to Zillow, home values rose nationwide 0.7%, marking the largest month to month increase in value since 2006, and April is also the second month in a row for the value to increase! While King County home prices are on the rise, rent is also steadily climbing; of the 178 areas covered by the Zillow Real Estate Market Reports, 78% felt a rent increase. The housing recovery appears to be headed in the right direction overall, even though a weighted number of Americans still have homes with mortgages that are underwater, or risk foreclosure.

Buying a Home Might Not Get Much Cheaper

Many renters today are choosing to put off buying a home for several reasons, statistics show that buying a home might not get any cheaper than it is right now. Experts say that 2012 may bet the last year for buyers to take advantage of the weak housing market and foreclosure influx. According to CNN Money, home prices are down 34% Nationally from 2006, and mortgage rates are at an all time low, making it the best year yet to find the bargain deal of a lifetime.

Economists with PNC Financial Services believe that home prices will flatten out by the third quarter of this year, and might begin to climb at the beginning of next year. There are several indicators that the housing market is picking up like the decline in foreclosures, and continued job growth nationwide, and buyers will have more access to affordable mortgages as they build their credit scores. While some prospective buyers who have been wary might be more willing to follow through because of the all-time low mortgage rates and lower home values, some renters still aren’t in a position to take the next step and will ultimately miss the grace period. For more information on the housing market, click here.

Survey Shows Renters More Optimistic About Buying

Renters in today’s market may have seen the value of their parent’s homes sky rocket, then deplete, or they most likely know someone who’s home is up for foreclosure. According to a survey done by the PulteGroup, The hope of home ownership is still in the air for many who rent and want to buy. Survey results showed that 60% of renters who said they would like to buy a home in the future have increased their intent to buy a home in comparison to a year ago. 61% of those folks also said they planned to purchase a home within the next two years.

When asked if they thought buying a home was a good investment, 44% of those poled said yes. According to Builderonline.com, the PulteGroup’s responded to the overall survey results with “We are seeing a renewed sense of optimism, especially from young professionals and young families visiting our communities nationwide,” Deborah Meyer, PulteGroup senior vice president. Many factors went into this survey and interestingly enough the pole also found that just over 1/4 of those poled believe that renting is cheaper than buying, and a little shy of a quarter are still worried about a stable job. For more information on Rentals and For Sale listings in the area, visit Craistlist.