New measure aims to aid housing slump...

This article appeared in the Sunday edition of The Seattle Times. It does a fairly good job of outlining the implications of this new bill. I'm still trying to get my head around what the results will actually be...but here are some of the things the bill attempts to accomplish:

• Allows certain homeowners to refinance their bad adjustable rate loans.
• Offers a lifeline to Fannie Mae and Freddie Mac who appear to be struggling and also exerts more control over those two "pseudo-government" agencies.
• Provides $3.9 billion to neighborhoods where foreclosures are prominent. The money is to buy and fix up properties in those neighborhoods as a means to increase surrounding property values.

It's that last point that I have not figured out yet. I have not read how that plan will be executed and by whom.

Read the full article here.

New Luxury Apartments in Wallingford

Anyone looking for an apartment in Seattle that is frustrated by the lack of quality accommodations should check out the brand new building in Wallingford. It's called Howard Park and can be found at 4218 Stone Way N. Seattle, WA 98103.

The building is currently accepting leases online to begin September 1st.

The interiors are finished with hardwood floors, granite counter tops, stainless steel appliances and cherry cabinets. The roof provides a controlled access deck for tenants complete with gas bbq and hosting kitchen.

The water in the building operates on a "tankless" system that is heated through solar assistance. A solar collector on the roof aids in the heating of the tenants water--providing an environmentally friendly and cost effective system.

For more information, visit their website at: http://www.seattleapartments.biz/howardpark/

Trying to differentiate a listing...

The Seattle PI has a fun article on agents and sellers trying to appeal to all aspects of potential buyers. One popular tactic is to provide a tasty treat for buyers that are coming through to view the house. Not only does it create a more welcoming atmosphere but it also causes buyers and agents to linger a bit longer than usual in the house.


I'm curious to know if this makes a difference to any prospective buyers out there. Vote in the poll in the right-hand column to share your opinion!

New town home guidelines

Seattle mayor Greg Nickles called for mandatory design review for all new townhomes built in the city. This new process would provide more checks and balances in regards to the design of townhomes and other small multi-family developments. According to the Seattle Times,

The changes also would offer builders more flexibility in building
configuration, parking and open space. In some areas, structures could be
closer to the street. But some neighborhood groups believe the proposed changes could yield disastrous results: bigger, bulkier buildings, smaller yards and less open
space on the ground level.

It sounds like the proposal has good intentions as many townhomes built in Seattle are unattractive and do not fit in with their surrounding neighborhoods. Seattle is continuing to change their laws and zoning regulations as it attempts to accommodate the foreseen lack of housing in the city's future.

Read the full article here.

How will gas prices affect homebuying?

With the nearly unbearable increases of gas prices, many people are rethinking their driving habits. And with no long-term relief in sight, drivers are even reconsidering how they can limit their commutes to work. This article from the Seattle Times discusses how some people are now choosing where they live to limit the amount of gas they use to get to work.

I'm interested to know how many of you would choose your next residence based on how much gas commuting from that location. Reply to this post and let me know!

Read the full article here.

Affordable Housing Tax Break

Mayor Greg Nickles and the city council approved the expansion of a tax break for builders and developers that build affordable apartment or condo buildings in the city of Seattle. One potential issue is how the city defines "affordable."

Under the approved proposal, an affordable studio apartment in the city has a price cap of $1,115. They say this is affordable to a single person making $46,705, or 80% of the area's median income. Nick Licata, the lone dissenting vote, argues that many workers that live in the city make even less than the people the new tax break aims to help.

Read the full article here.