End of a Legacy?

Demolition began on the old Denny's building in Ballard. I blogged about this a while back and just wanted to give an update. This building was an example of the rare yet odd architectural style called "Googie." A preservation group made attempts to save the building, but keeping it around was not practical.

Read the full article here.

Seattle housing growth is through the roof!

A recent report reveals that 3 years into Seattle's 20 year plan to increase housing, the city is already halfway to their target! The city has a plan to help stop urban sprawl and accommodate more people within the city limits. The Seattle Times reports,

Between January 2005 and March 2008, Seattle experienced a net gain of more
than 10,600 housing units, with an additional 13,000 or so in progress. That's
50 percent of the city's 2024 target of 47,000 additional units.

Many opponents of rapid growth will point to these numbers and say it will lead to a decreased quality of life in Seattle. They will also use this report as evidence that a recently proposed tax incentive to build multi-unit properties should not be passed.

Read the full article here.

More on FHA...

The new loan limits for FHA (Federal Housing Administration) are starting to help some buyers. In addition, the FHA backed loans are gaining more and more market acceptance.

Read the full article here.

Tax Assessments

This is an interesting piece from the Seattle PI explaining why the tax assessed value of your home might go up even as your property value may have declined.

Read the full article here.

New Listing!

This is a very charming house in Queen Anne with a very large back yard. It's rare to find a house with this type of yard in Queen Anne. The house also has been recently updated and includes a covered side patio; separate shop area and a downstairs apartment.

Check out more information here.

May Sales Stats...

Click here to view numbers for home sales in the month of May. Then click on the link to view the PDF. As anticipated, sales are down overall from a year ago.

Great time to buy as prices slide...

This article from the Seattle PI outlines the general feelings from both buyers and sellers in this market. A lot of buyers are waiting for the "perfect" house or for an incredible deal. Many real estate professionals have their views on what will change in the near future to turn all of those fence-sitters into actual buyers...thus causing the market to move faster than it is now.

Read the full article here.

Foreclosures continue to rise

While the story of rising foreclosures is not new, the growing number of homeowners falling behind in their payments is not going away. As we here in the northwest seem to trend 12-18 months behind the rest of the country in most everything, the increasing foreclosure rate in Washington is becoming more prevalent by the month. In fact state legislature has approved new laws to protect "Distressed Homeowners" that are to go into effect June 12th. I will blog more on this and it's impact on the real estate market soon.

Read the full article here.