Seattle Rental Rates Continue to Rise Through 2012

Are you currently a renter who believes you’re paying too much for your rental house on Queen Anne, your Ballard apartment, or your West Seattle condo? If you are not then consider yourself lucky because the cost of rent continues to rise as vacancies around Seattle continue to shrink. While rates are predicted to continue steadily rising through 2012, next year real estate analysts say the trend may come to a halt. 

Rent is continuing to rise in the King and Snohomish counties and according to the Seattle Times, several experts suggest these rates will continue to rise until next year, when a surge of current projects are scheduled to be completed, creating more vacancies around the city. According to the Apartment Insights Washington, the average monthly cost of rent in Seattle is currently $1,094, up 1.7% from last quarter. Our region is in the largest apartment construction boom we’ve seen in over two decades, and should expect rental rates to drop, or at least begin to rise more modestly after this year. For more information, please visit the Seattle Times.

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

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.

Local Landlord Faces Hefty Fines

I typically blog about Luxury Seattle rentals, but I came across this article in the Seattle Times today regarding a local landlord, Hugh Sisley, that I found very interesting.  Hugh Sisley and his wife Martha had $600,000 in fines upheld recently in an appellate court for several city housing code violations.  The city of Seattle is aggressively enforcing building and housing codes.  To read this article, please click on the Seattle Times.

THE BLOCK-Rental Available

THE BLOCK is a concrete & steel mixed-use project; perched high above Lake Union in lower Queen Anne with mesmerizing views of the Cityscape, Capitol Hill, and Lake Union. Concrete, wood panels, metal siding and a braced frame make up the exterior of this luxury rental. The interior of this luxury Queen Anne rental feature double height living space, exposed steel columns & wood beams, stainless steel kitchen, bamboo floors, exposed venting and plumbing, and floor to ceiling commercial windows. Attached 2 car garage and private 700sf roof deck. Please follow the link to search for other Seattle luxury rentals

Status: For Rent
Bed/Bath 3/3.5
List Price: $3,850/mo

Incredible Queen Anne Rental- RENTED

This incredible penthouse home, which was recently built with the highest quality of construction was just rented by Ewing & Clark. This lovely home features 2 big bedrooms, office, big kitchen, family room, excellent appliances, and a living room with a fireplace. This unit also features 2 parking spots. Please follow the links to find full listing details and photos of the home, or search other Seattle luxury rentals.

Status: RENTED
Bed/Bath 2,2
Last List Price: $5,800/mo

Incredible Queen Anne Rental- RENTED

This incredible penthouse home, which was recently built with the highest quality of construction was just rented by Ewing & Clark. This lovely home features 2 big bedrooms, office, big kitchen, family room, excellent appliances, and a living room with a fireplace. This unit also features 2 parking spots. Please follow the links to find full listing details and photos of the home, or search other Seattle luxury rentals.

Status: RENTED
Bed/Bath 2,2
Last List Price: $5,800/mo

Queen Anne Townhome- AVAILABLE

This beautiful townhouse is located on Queen Anne and offers sweeping views.  The townhouse has an open floor-plan and is complete with a sophisticated style.  This home features slab granite counter tops, stainless steel appliances, two gas fireplaces, sundeck, hardwoods and much more.  Click on the link to get more details on this Stunning Queen Anne Townhouse.  This home is currently for rent at $2,995 unfurnished and $3,495 fully furnished.