Seattle Homes Are Selling

For the past couple of months, we real estate brokers have been asking each other, “Is this right? Can this be?” Well, the data confirms that what we’ve been seeing is real. Home sales are up! That’s right, you read that correctly. The number of home sales increased this fall, and shows no sign of slowing down. Compared to September 2010, the number of sales of single family residences increased by 48% in September 2011 and didn’t slow down in October. Year-to-date, sales have increased by 20% compared to 2010.

One challenge buyers are facing is that market inventory has decreased by 25% compared to inventory in October 2010. Personally, I have Diva Dwellers who cannot find a home in the central core Seattle neighborhoods that meets their needs. Sellers can easily sit and wait until the classic Seattle Spring home selling season. At the same time the number of distressed homes (short sale and foreclosures) have declined in Seattle further decreasing inventory. Right now in the central 390 area of the MLS (Capitol Hill, Central Area, Montlake, Madison Valley, & Madison Park) distressed homes only make up 8% of the market. That’s down from 9% in September.

The recent Seattle Times article reporting the drop in King County median home prices totally misses these critical local Seattle data points. One point they mentioned but should have discussed more thoroughly was that the buyer pool is largely made up of first time home buyers and investment buyers. These groups tend to purchase lower priced homes, driving down the median value of homes sold. Also, even though sales are up this fall, it is the “off” season for real estate, when the home buyers who typically buy the larger, more expensive homes aren’t as active in the market. Look for Diva Kim’s upcoming blog with commentary on Seattle’s home sale stats.

Real Estate is always local. Give Team Diva a call directly if you have specific questions regarding your neighborhood. We do our best to make the information clear and relevant for you!

King County Single Family Sales Report

King County Condominium Sales Report

Area Foreclosure/Shortsale Report

Phinney Ridge Harvest Party

Pumpkin Spice Lattes, butternut squash soup, falling leaves, and sweaters – all signs of autumn in Seattle. But for the growing number of Seattle Urban Farmers, autumn is a time of harvest. More and more Seattlites are looking toward local and sustainable living, and you can’t get more local than growing food in your very own urban garden.

The 3rd Annual Harvest Party, hosted by the Phinney Neighborhood Center and Seattle Farm Co-op, is a celebration of Seattle’s growing urban farming community. Attendees can barter for local goods (no money allowed!), enjoy a family potluck (bring something to share), burn off all that food with some square dancing, and get a copy of the newly released The Urban Farm Handbook.

Become an inaugural member of the Seattle Farm Co-op as a one of the many Urban Farmers in Seattle. The Co-op works to provide supplies “such as animal feed, fertilizers, mulch, seeds, etc., from local and sustainable sources as much as possible, and saving money through co-operative purchasing.”

Event Details
What: Seattle Farm Co-op Harvest Party
Where: Phinney Neighborhood Center
When: Sunday, October 23rd, 5-9pm

Kirk Albert's Showroom in Georgetown

Renovating a space by utilizing previously salvaged goods is the more urban and creative way to approach one’s home DIY project. There is a whole shift in design that is taking note of our collective need for more stimulating and intensely long lasting goods. Gone are the days when a “flip” house was the perfect house. Specifically in Seattle, we want a high-end renovated look that has a creative edge: something that make our friends go “wow!” Homes where someone came in with Big Box DIY store dark cherry cabinets and granite counter tops feel so 2006 and wasteful.

Luckily, in Seattle, we have several fabulous salvage and recycle goods store to let your creative home ideas take flight. Businesses like Second Use (the Divas now have an inside connection), Earthwise Architectural Salvage and RE Store offer a wide variety of lumber, furniture, fixtures, and hardware. You can put in hardwood floors without the need to cut down any new trees or you can use vintage hardware to replace the door knobs throughout your home, giving it a unique look.  Whether it’s for big projects or for small ones, the variety of reclaimed materials and fixtures available enable you to find that one-of-a-kind piece that will make your home express you.

Diva Dwellers Austin and Sergey have taken the salvaged approach to their home by creating their own unique “investment” pieces of furniture. Some of their “Around the House” signature pieces were found by master salvage guru, Kirk Albert, in his Georgetown showroom. Austin and Sergey have found furniture themselves and restored it for their own home. Below is a photo of the factory cart “coffee table” that the boys found and restored themselves.

Find out more about salvage services and reclaimed materials from some of our favorite retailers:

Austin and Sergey's Salvaged Coffee Table

Second Use
7953 2nd Ave S
Seattle, WA 98108
Phone: 206-763-6929

Earthwise Architectural Salvage
3447 4th Ave South
Seattle, WA 98134
206-624-4510

The RE Store
1440 N.W. 52nd Street
Seattle, WA 98107
(206) 297-9119

Team Diva Real Estate has lot and lots of information about renovating homes and our own vetted list of contractors. Check out more in our Renovation section of our website»

I regularly work with clients who are relocating from other cities and want to rent as they get settled into Seattle before they buy a home. Some look long distance, hoping to have a signed lease before moving. Others come to the city and live in temporary housing before finding a long-term lease. Both are finding it challenging to find quality, affordable housing before it is snatched up by other Seattle renters. A common scenario that I see, specifically in Capitol Hill, is a new unit coming onto the market in the morning, having four applications by the end of the day, and the having a signed lease within 24 hours.

According to Dupre + Scott Apartment Advisors, the vacancy rate in Seattle is running at 3.47 percent. Popular neighborhoods close to downtown have a much lower vacancy rate – around 2 percent. This high demand leads to increasing rent prices. Dupre + Scott report that the average rent in Seattle is $1,165/month, up 5% from a year ago. This number does not include parking (add another $100+), utilities, insurance, or any other associated expenses. It is getting very expensive to rent in Seattle!

Some renters are realizing that it can be cheaper to buy a studio – and in some cases, even a 1 bedroom – condo than it is to rent an apartment in the city. Team Diva Real Estate have seen in-city condos on the market with mortgage payments as low as $950/month – including Homeowner’s Association Dues, taxes and insurance. That’s over a $200/month in savings!!! For those who are ready to buy, this is definitely the time!

But what if you aren’t ready to jump into the homeowner pool? If you are looking to rent in Seattle, you need to be on top of your game! Know what neighborhoods you want to live in. Decide what features are a must versus what you can compromise on in order to live in the right place and space. Most importantly – know what your budget is, factoring all of the additional costs of renting.

Good rentals go quickly, so constant monitoring of the market is a must. I’m here to help those who may need more guidance or just do not have the time to do their own research. Check out our rental section for more information. It might also be a good time to consider jumping on those fabulous Capitol Hill condo deals now while they are still available. Follow the link for more information on buying your first home> Team Diva Real Estate

Seattle's Real Estate is Always Local

Reading or watching the news, we are inundated with newly released reports on the state of the housing market. These reports often contain conflicting information, and rarely do they focus on one geographical market. Case in point: the monthly Case-Shiller Index that came out last week. The latest Case-Shiller Index reported that housing prices increased by 1% from April to May. However, even with this price increase, housing prices are down overall by 4.5% from May 2010. This information is obviously important, but if you don’t understand exactly what you are reading, you could end up with a false image of the current real estate market in your city.

There are a few things to keep in mind when reading or hearing about market reports. First, these reports are historical information. Usually when a market report comes out, the information is 60 days old, sometimes older. In the real estate market, things change quickly and the climate 60 days ago might be completely different than what is going on today. Second, these reports usually use data collected from a few major metropolitan markets and use this data to establish trends for the entire country. Unless you live in one of these markets, the numbers you are reading may have no similarity to what is actually happening in your neighborhood. Even within the studied markets, trends can vary widely based on what neighborhood you live in. Third, you have to know what type of properties each report looks at when gathering data. The Case-Shiller report uses data on single family homes. If you own a condo, this report doesn’t really give you any useful information. In addition, the Case-Shiller incorporates data from Tacoma to Pierce County. Not exactly a localized perspective considering the economic conditions outside of Seattle.

Whether you are looking to buy or sell a home, having current market information is necessary when determining the value of a home. Information from 60 days ago just won’t do. So how do you find out the latest market conditions for your neighborhood? Call us!!! The Team Diva Real Estate gals can pull current market data and let you know what is going on RIGHT NOW. And we won’t give you the market update for the entire city – we narrow it down by neighborhood and type of residence. We want our Diva Dwellers to have the most accurate and up-to-date information when it comes to pricing their home or making an offer. Being market savvy gives our clients an edge, and in this quickly changing market, having an edge gets you the best deal.

For instance the last Team Diva Real Estate report released showed an upward trend on Capitol Hill and other neighborhoods in Seattle. Read the whole report here->

Seattle - Photo Credit Diva Dweller Chris Hafner

Diva Real Estate Market Report – June

A client recently dubbed us Diva gals the “Queens of Capitol Hill.” We do not know if that is because of the company we keep or just the amount of fabulous real estate clients we have on Capitol Hill. As such, we are extra excited about the upsurge in home sales in our home turf. Homes and condos are selling like hotcakes according to the June resale report.

Condos: Although the condo market is still suffering from weaker market values, the number of condo sales in June on Capitol Hill increased by 94% compared to June 2010. Wow!

Single Family Homes: The sale of single family homes on the hill have almost tripled compared to sales in June 2010. Year to date, single family home sales have increased by 69% throughout the neighborhood. Prices are still low, but with sales numbers like this, demand will soon be driving the market values back up.

Seattle Overall: The number of sold homes surged from June of 2010 to this past June. The price points are still low but the number of buyers in the market is much greater than any other time during the downturn.

For more information on your neighborhood’s market, search for your zip code in the resale reports.

King County – Single Family Residences

King County – Condominiums

Capitol Hill has always had a rich and diverse history in Seattle. Its central location to downtown has attracted urbanites, hipsters, old money, the gays and just about everyone in between. For us personally the hood is where we spend our days and where all of us have lived sometime in our youth. Team Diva’s mother ship/central offices are on the hill. Our favorite small business owners are on the Hill. And when its time for us to hit the town – we return to Capitol Hill.

Let’s just be honest – Capitol Hill is our home away from home. You can walk out of our office and, in a hot Seattle minute, you will find fabulous foodie spots, local fashion stores, amazing coffee, artists, hipsters and more. All of this is snuggled amongst stunning older homes, condos and apartments. There is always something to do on the Hill. Looking for some wall decor? Stop by our favorite artist studio, Local 1520, during the monthly Capitol Hill ArtWalk and get some fabulous art for your home. Need to find the perfect bottle of wine to bring to a party? Vino Verité has a great selection, including their very own Capitol Hill Red.

Team Diva hooking up with some of our favorite Woman Owned Businesses on Capitol Hill to celebrate 2011 Gay Pride month in style. The Divas Take the Hill event on Wednesday, June 15th kicks off our Pride. We will be releasing the official map of Divalicious approved businesses. Join us and see why we adore this fabulous neighborhood!

Shop Local Spot: Retail Therapy

Local Hood Blog: CHS Capitol Hill Seattle

See the whole Divas Take the Hill list below:

16th Annual BIG ArtWalk in Phinneywood

This Friday, May 13th the Greenwood and Phinney Ridge neighborhoods will be hosting their 16th Annual BIG ArtWalk. Over seventy local businesses will be participating in this neighborhood event, including Diva Deals partners, Hip Zephyr and Tasty. Join Team Diva Real Estate in supporting the Phinneywood community, and the over 150 participating ArtWalk artists. Hope to see you there!

Event Details

What: 16th Annual BIG ArtWalk Event
Where: Phinney + Greenwood Avenues (between 60th & 85th)
When: Friday, May 13th, 6-10pm

Isabel with her ever present tennis ball.

Anyone who has met my dogs knows two things – they are the cutest things EVER…and they are a wee bit crazy. Having two high energy pups means I have to find a lot of ways to keep them entertained and expend their energy. Luckily, Seattle is a city friendly to dogs and their owners. It seems like every store I visit has a container of dog treats on the counter and a water dish outside the door. This means I can take my pups more places and spend as much time with them as possible – which leads to happier pups.

Now that Spring is making an appearance, my dogs and I are spending more and more time outdoors. I am fortunate enough to live near Genesee Dog Park. This park provides a variety of environments for dogs to play and explore. The large dirt area where dogs can chase balls and, more often than not – each other, is surrounded by grass, trees, logs and large boulders. Dogs can climb and explore, sniff and dig to their heart’s content. When the weather is super hot, we drive over to Magnuson Park, where the off leash area has water access for dogs to splash and swim. Splish splash!

Some days, mama needs her exercise too – so we head over to one of the many parks with walking paths. Greenlake is always a favorite of ours, and we can usually get friends to join us for a little stroll. If we want some scenic variety, West Seattle’s Lincoln Park has wooded trails leading down to a path along the waterfront. Both places are popular with dogs and their owners, and opportunities to meet new four-legged friends are plentiful.

All this outdoor fun can lead to two very dirty pups. When it’s time for my dogs to get their Diva style on, I take them to Dog Mania (a Diva Deals partner) in the Mt. Baker neighborhood. Dog Mania is kennel free, so pups are allowed to roam and play when they are not being bathed and groomed. There is nothing like bringing my freshly styled dogs home and having them pass out after a long day of fun. If you are a more do-it-yourself kind of dog owner, Rub-A-Dub Dog offers the equipment and supplies to wash and groom your dog, and they clean up the mess for you.

My pups are like me and can use a cocktail at the end of a long, busy day. Since they are looking fabulous, why not treat them to a night out on the town. The Dining Dog in Edmonds is the perfect place to treat my pups. This restaurant offers doggy cocktails, appetizers, entrees and desserts for your pampered pet (and nibbles for humans too). Throwing a party for your pooch? The Dining Dog also hosts private parties to celebrate the dog in your life.

Diva Dweller Shanna takes her little guy Oskar to Norm’s Ale House in Fremont. Amazing environment that allows the humans to have a beer while their puppies hang out. Oskar loves the hang out part!

Here’s to all of us dog (and other pet) owners! Throw a ball and raise a glass in honor of the four legged friend in your life!

Special Note: Dog Mania is a Team Diva business partner. Check out our Diva Deals page to find out about special discounts.

Isabel, Diva Kaz & Ky

Hip Zephyr - fun & fashion forward styles for every Diva!

Phinney Ridge boutique and Diva Deals partner, Hip Zephyr, will be hosting a Girls Night Out event tonight, Thursday, April 14th at 6pm. Join Diva Kaz in supporting one of our favorite local businesses. Meet and mingle with other fabulous women, enjoy some champagne and find new Spring/Summer fashions for your wardrobe.

Yummy linen jacket by Michael Stars

I’m coveting this jacket – will definitely be trying it on!

Soiree Details

What: Girls Night Out
Where: Hip Zephyr - 6421 Phinney Avenue N, Seattle, WA 98103
When: Thursday, April 14th, 6-9pm (or until everyone goes home)