Over the past few years, rents in Seattle have skyrocketed. This has left renters anxious about how much their rent will increase every time they have to renew their lease. For a single person in the city, the cost of living has increased by 19% since 2009. A couple with two children will be paying 13% more than they did in 2009 to make ends meet. With this swift rise in the cost of living, many Seattle residents are realizing that buying a home is a good way to keep their living expenses from getting out of control.

Diva Kaz is familiar with the Seattle rental market. She often works with clients who are in the process of relocating to Seattle from out of state, and who need to find a temporary living situation until they become more familiar with the city and are ready to buy. One of the most popular neighborhoods for Seattle newbies is Capitol Hill. Renting a one-bedroom on the Hill will cost about $1200/month. Two bedrooms apartments run an average of $1900/month. Then, you have to add in renters insurance, parking (it’s never included in the rent!), storage unit fees, and all the other small fees that apartment owners tack on to make extra money. This is money going into someone else’s investment – money that you will never see again!

Did you know that it’s possible to SAVE money by buying a condo on Capitol Hill? The Divas had a studio unit listed for $127,000 last fall. Out of curiosity, we compared the cost of owning a studio condo and renting a studio apartment. The condo owner saved $200/month over the renter (and that included HOA dues, insurance & taxes). This made us curious about larger units and how they compare to the rental market. Here’s the breakdown:

Two Bedroom (Average cost: $300,000)*
$1,970/month with a 10% down payment
$2,041/month with a 5% down payment

One Bedroom (Average cost: $175,000)*
$1,165/month with a 10% down payment
$1,207/month with a 5% down payment

*Calculated with a 4% interest rate on a 30-year conventional loan, and includes estimated taxes, insurance and HOA fees.

So, what does this mean? With interest rates as low as they are, buying a condo on Capitol Hill could save you money. Even if you don’t have as much to put towards a down payment and your payments come out even with rental prices, the mortgage interest tax deduction you can claim on your income taxes will save you money (renters do not get to claim any tax deductions). So if you are worried about your rent being jacked up the next time you renew your lease, consider buying a home. We Divas are here to walk you through the process and answer your questions. Plus, we have tons of great resources to educate you about home ownership and the Seattle market.

Ready to say goodbye to renting? Give the Divas a call!

The Divas are not joking around this weekend. GO OUT AND SEE THESE SHOWS. Why? Cause it will change the fabric of who you think you are. There are two performances happening this weekend. On the Boards is hosting Kyle Abraham/Abraham.In.Motion and our beloved Spectrum Dance Theater is performing Petruchska, Donald Byrd’s re-imagining of the Igor Stravinsky/Alexandre Benois ballet about ill-fated love. These shows are performing from two different theaters. Two perspectives. Two amazing dance intellects but from different generations. Below is a quick run down on these shows:

On the Boards – Kyle Abraham/Abraham.In.Motion

Kyle Abraham photo from On the Boards

The best and brightest creative talent to emerge from New York City in the age of Obama.” – Out Magazine. Personally, I’ve watched several videos of Kyle dancing and made it my mission to see this person live. Maybe it is the glitter, the training, the athletics but I get a feeling there is something really important in this work.
More info after the jump>

Spectrum Dance Theater + Donald Byrd | Petruchska

Spectrum Dance Theater Company Members Photo from SDT

Oh Spectrum – how I love you and sometimes it is an uncomfortable love. Petruchska is staged at Spectrum’s Lake Washington HQ. My favorite review from the show comes from Sunbreak “Byrd’s Petruchska-this-time is as much art installation and “happening” as it is dance. The inimitable Byrd tricks you into taking your place, that, too late, you determine is a dunk tank’s seat, over a pool of eerie, erotic thrashings. There’s the pitch! Down you go, metaphorically.” That is enough to get me to cross town!
More info after the jump>

 Seattle Divas Loves Community Power Works for Earth Day

The Divas recently met the very charming Brandon from Community Power Works and learned some amazing factoids about the amazing program he works for here in Seattle. Community Power Works is a city of Seattle program. It is a one stop shop for Seattlites to learn about how to save energy in your home and improve the environment. First off the city of Seattle has money to help us all be a little more energy efficient that they have to spend. Like real hard core cash to spend on YOU to get your house in better energy efficiency standing. What? Yes!!!

Community Power Works is a program setup by the city of Seattle that will subsidize an energy audit of your home and help you get incentives to do the recommended work. The idea behind the program is that by sealing up areas in your home that heat escapes saves the environment, saves you money, saves the strain on the energy grid and more importantly helps you to improve your homes value. below is a quick run down of information from Community Power Works about their programs.

In April 2010, the US Department of Energy (DOE) announced that Seattle would be one of 25 communities to receive funding from the Better Buildings program. Two months later, the City of Seattle signed a grant contract with the DOE and began program development of Community Power Works (CPW).

By June 2013, CPW will leverage a $20 million federal investment into more than $100 million of energy upgrades across six building sectors: single-family, multifamily, small business, large commercial, hospital, and municipal buildings.

To catalyze energy upgrades and the energy efficiency economy, CPW will:

• Help building owners and homeowners understand how to save energy in their properties and take advantage of all services offered by CPW;
• Offer rebates and financing to help owners and tenants invest in energy efficiency upgrades; and
• Build an energy efficiency workforce by facilitating worker training, job placement, fair hiring and wage standards for all workers under CPW.

Team Diva has seen an increase interest by our new Diva Dwellers for homes that have made energy improvements over homes with granite counter tops. We know that brand new green built construction typically sells for about 4% more than their standard built counterparts. Team Diva has no doubt we are going to see these value increases  in older homes that have made green energy a priority!

More information about Community Power works >

Learn more during our Twitter chat between @SeattleDivas and @CPWforHome #GreenDiva on Saturday, April 21st at 10:00 AM / Seattle Time!

Team Diva are huge supporters of green building practices and improving one’s home energy usage. This Saturday, April 21st join the GreenDepot, Northwest EcoBuilding Guild, and so many fabulous green folks for an amazing tour of Green Built Homes. Details below and on the GreenDepot site.

Saturday & Sunday, April 21 & 22,
Open daily 10 am to 4 pm
4121 1st Avenue South

The tour will feature green-built new homes, multi-family, remodels, cottages, energy retrofits, and more.

• Learn how easy and affordable green living and green building can be.
• See examples of sustainable design construction, deconstruction landscaping, energy-efficiency upgrades, and lifestyle and more.
  
• Experience demonstrations and workshops about green products and features.
  
• Enjoy kid-friendly activities and learn while you play to win.
  
• Attend the Saturday EcoExpo and meet suppliers and sustainable sub-contractors.

2012 is the Last Season to Get a Deal in Seattle

Let’s be honest. Last year – 2011 – was not a stellar year for the real estate market. Many neighborhoods had declining sales and prices from 2010 and some more significant than others. But – we also saw pockets of stability throughout some of Seattle’s core hoods. Many neighborhoods saw minor price declines from 2010 – some as little as 1% – which is not unusual in a neutral market from one year to the next. Also, many neighborhoods experienced a positive bump is sales from 2010 – 2011. Although some of these neighborhoods were in the medium to high price points – some of the biggest boost in sales were seen in the $200k-$350K price point neighborhoods. Thank you first time home buyers! You folks are the bread and butter of the market right now.

So how does this data slice and dice in more detail? Well – here it is. The big neighborhood winners for price stability in 2011 were Wallingford/Phinney/Greenwood area, most of Seattle’s northeast neighborhoods including Ravenna, Wedgewood & View Ridge, then Mt. Baker and North Beacon Hill area and lastly West Seattle’s pricier neighborhoods, Alki & North Admiral. All of these hoods had less than 3% in price depreciation. Most only had 1% depreciation and Alki & Admiral actually recorded 0% change in price from 2010-2011. Plus this hood also saw a solid  7% jump in sales. Rock on West Seattle!

Some other areas that saw a solid increase in sales last year were Central Capitol Hill, with a 29% increase, Delridge & Highland Park, which jumped up 10% and Lake City Way, which saw a good 20% increase. As I mentioned earlier – most of these areas are lower to mid-range priced properties, with the exception of Capitol Hill, where the median price point is in the $700′s.

What does this all mean you might ask? From this Diva’s point of view it means – change! Slow but steady change. And – unless you have been spending too much time listening to the media pundits and not your neighbors – you probably already know that some neighborhoods of Seattle have had homes selling in record time with multiple offers right and left! Low inventory, low rates, loosening credit markets, more buyers on the market – this all points to change!

Only time will tell what the future holds.

Check out your local Hoods:

King County Single Family Home Values

King County Condo Home Values

Angry Bird Launching from the Space Needle

Overall the news is good in Diva real estate land. Housing recovery is on its way in many of Seattle’s neighborhoods. The housing inventory is at an all time low and we have seen increasing prices in key neighborhoods like Capitol Hill, Phinney Ridge and Columbia City. The low new home listing inventory is expected to continue throughout this year due to the fact that many Seattlites are sitting tight in their current homes with no wish to move anytime soon. In other news the rate of new apartment building continues across the city. PCC might anchor a development in Columbia City. And just when you have seen it all the Divas can see a massive Angry Bird hanging off the Space Needle from our office on Capitol Hill.

Parking Around Seattle May Get Worst as City Planners Prefer Transit: Really curious what the impact is going to be on local small business as we see fewer parking spots coupled with shoddy bus service in key Seattle neighborhoods.

Largest Development Yet Planned for the Backside of Pike and Pine: Rental unit construction continues to boom in Seattle. Thanks to the Capitol Hill Blog for tracking the impact to Seattle’s Capitol Hill neighborhood.

PCC Grocer Could Be Part of Large Apartment Development Planned in Columbia City: Seattle developer Security Properties has proposed a six-story apartment and retail building on Rainier Avenue South that may be anchored by a PCC Natural Markets grocery.

Housing Recovery at Last? Evidence Mounts: People generally do not make a big investment in their home unless they feel they have equity and it is secure.

Housing Shows Signs of Life: Real-estate markets are showing signs of life as falling prices spur buyer demand.

Seattle Market Watch - Seven Days / Note the Number of Pending Sales vs. New

KUOW just ran a great story spotlighting the super low inventory in some of the neighborhoods here in Seattle. Here at Team Diva HQ we have seen multiple offers for our buyers across the board this year. This leads to the perception by some sellers that we are back in 2005-2006 mode of increasing prices regardless of what is tossed on the market. But the reality is, despite the upward movement, there is still a distinct difference in the types of homes that are selling with multiple offers and those that are languishing on the market. The homes that selling in multiple offers are like the home in the KUOW story  “Aside from all the cosmetics you see, this house has all new systems, so it’s 100 percent new wiring, 100 percent new plumbing. There’s a new furnace.” The homes are prepped for the sale!

Honing in Closer to Home, Let’s Check out Some of the Diva’s Favorite Neighborhoods:

Capitol Hill Condos | .84 Demand Rate / Less Than One Condo for Every Buyer
Buyers have swung into the market bought up everything priced below $200,000. Expect to pay closer to $250,000 for a one bedroom and anywhere from $325-450,000 for a two bedroom.
Listing Price: $390,000
Pending Price: $334,000 / $186,000 for Short Sales
Sold Price: $167,000

Columbia City Single Family Homes | .63 Demand Rate / Less Thank One Home for Every Buyer
Check out the list to sold price. Expect to pay $27,000 over the average list price to live in this up and coming neighborhood.
Average Listing Price: $283,000 (For homes actually on the market. Vast majority of homes are pre-sale or under construction priced above $350,000)
Pending Price: $308,000 / $248,000 for Short Sales
Sold Price: $310,000

Phinney Ridge Single Family Homes | .36 / Fight it Out Buyers. There is Only 1/3 of a House For you!
The demand rate in this neighborhood is really low. The interesting thing is that homes are either on the market for around 8 or over 100 days. The bottom line is that market has trends like 2005 but the buyers are very 2012 recession proof. That means that they are very smart and super conservative. The new generation of buyers expect houses on the market to look and be marketed with a little Diva Difference.
Average Listing Price: $556,000
Pending Price: $552,000 / $527,500 for Short Sales
Sold Price: $528,000 with about a 99% sold to list price.

The bottom line is that this is a great time to sell your house if you need to move up to the next generation of home or if you are sick and tired of being a landlord. For those who are still underwater on your home, the end is near. Buyers expect to compete for the good homes or get out the elbow grease and get to work on homes that need a little work. Do not expect a lot of new inventory to come on the market any time soon. Those with good houses in good neighborhoods are sitting tight until the market corrects itself.

Hang out with Kim as she discusses the local Capitol Hill condo market. The number of condos currently on the market is lower than the number of buyers. Traditionally this indicates a fast moving market with home prices improving dramatically. The interesting thing is that this market has all of the indicators of 2005/2006 but it is even weirder cause the inventory is so low. Hang on Seattle!

Discover the joys of urban living in this sweet Lower Queen Anne Art Deco studio. This home is small but minimized living saves resources and gives you the complete urban experience. Imagine living with original vintage details coupled with everything that Lower Queen Anne‘s walkable urban neighborhood has to offer. Get rid of that car. Walk to the farmers market. Meet your friends at the ballet and still have money in the bank. All because you chose to take the urban lifestyle to heart by living in the Seaview!

Home Details: Original period details such as ziggaurat arches, coved ceilings and refurbished fixtures abound throughout the condo. Home also features hardwood floors, new wood insulated windows, remodeled kitchen, renovated bathroom and walk-in closets. The condo building captures that original urban dwelling feeling with splashes of original details like the light fixtures, Neptune fountain and other details that are simply enchanting to experience. The home owners association is very active. Recently they renovated the building with a new roof, brick work and are reviewing the declarations to maintain the value for the community. Out your door enjoy the beauty of Kinnear Park all year long and the amazing access to fabulous dining, night life, theater, shopping and more!

More Details: Check out all of the photos and home details at the Diva Dwelling-Seaview section>

Zipcar at Second and Mercer: Sell that car and walk to Zip Car cause now you are living at the Seaview!

Open House: This Sunday, March 25, 2012 | 12:00 -2:30 PM

FIRST RATE.

This duo of realtors have proven their commitment to serving up a stunning level of personal service.  Having worked with them for several years I’ve witnessed their sharp sense of the market zeitgeist, empathy with clients, first rate marketing, and passion for a good deal.  I would recommend them for anyone looking to buy or sell a home and at any price point.

Since the housing market went tits up the Divas have not only stayed in business but seem to thrive in the tough business environment.  I think because of the strain their intuitive sensing of what’s happening in the Seattle housing market has kept them in business while other realtors have disappeared.  They price accurately and can gauge home values quickly.

I love the connection they maintain with me, and when I get to see it, with other clients.  They take all matters seriously and I knew they were on my side through every step.

Their marketing is amazing!  So much more clever and original looking than all the other BORING and STODGY real estate agents’ aborted creations floating around.  If you want your house sold you need Team Diva on your side!  Their style is unique, professional, and can change dynamically to compliment the home.  It’s also all that professional photography they use.

If “garden variety” is your thing then choose someone else, but beware.

Ultimately though, it’s their passion that shines and it’s what wins.  I’ve recommended Team Diva to everyone I know who is interested in their current home or the home of their future.

Read all of our reviews on Yelp!»