Community Post

Real Estate update

Here we go, The ups and downs, ins and outs of your neighbors successes and failures in the housing market. Just the facts Ma’am.

I would like to do this regularly every other week or so. I would love input from everyone about anything else they would like to see regarding this subject. The area will go from 14th Ave to MLK for the west to east boundries and Jackson to John for the south to north boundries. This is not any kind of statement for EXACTLY what the boundries of the CD are but you have to start and stop somewhere.We can certainly stretch the boundries if we have alot of readers from other areas.
This list include single family residential homes and most townhouses. I am not intending this to be a real estate sales post so I will not include new listings. You should contact your realtor for that info. These are home that closed in the last two weeks.
And away we go….

724 19th Ave Original list price=325K sale price=290k days on market=82

1628 21st Ave OLP=339k SP=316k DOM=16

305 16th Ave OLP=595k SP=575k DOM=58

1510 E Columbia St OLP=661k SP=625k DOM=84

0 thoughts on “Real Estate update

  1. get my assessment lowered. I hear all you get is a token even if comparables are assessed at less.

    No way can I sell for the assessed value and plus, my view is now gone.

    I truly believe they over assess the land value of townhouses versus subdividable lots. My land has virtually no value by itself.

  2. I’ll find the link for you and post it. I’m pretty sure there is a 45-60 day time limit to get it done.

  3. Thanks, I’m complaining about HOW they do the assessments. I have all the info and forms and have talked to a number of people. Unless you are in really high end homes, the percentage they may drop the assessed value results in a dollar amount that would not pay for the time I would spend doing it.

    For example, a friend in Leschi made them drop her home assessed value from 1.1 mil to 1 mil — that’s a HUGE chunk of change in reduced property taxes. When you are below half-mil, they might drop it ten-twenty thousand.

    If others have had other experiences, I’d like to hear about it, or it may be worth my while if there were a concerted organized effort to have them reconsider their procedures.

  4. I hope this becomes a regular feature of the blog. It would be even better if there were photos of the homes–with Scott’s dog sitting in front of course!

  5. Is this just a place to share CD real estate gossip or is there a specific purpose?

    In any case, my house has been on the market since late July and is set to close in a week. Had to come down in price to make it happen, but the fact we’re selling amid the economic uncertainty and a seasonal slowdown shows that demand is still there. For what it’s worth, we explored renting our house and got LOTS of interest.

  6. I think all kinds of comments could be interesting. From my perspective as an agent as well as jack and jill homeowner(not related to Joe the plumber).
    I think we can get pics up next time without too much trouble. Eventually we would like to get a map up as well.

  7. The P-I had a good overview of this, and the short answer is that our assessments are 1-2 years behind the current year. So your new assessment is based on values from ’06/07. And there’s a rule about dividing the total value between the land and the dwelling…within market value, the land can keep going up and up, which conversely brings the dwelling value down to keep the overall assessment within market value for that year. So those huge places along Lake Washington in Madison Park…the dwelling is nearly assessed at zero, while the land is the majority of the tax value pie!

  8. Since the Squire Park neighborhood extends to 12th Avenue on the west, and there are homes and condos between 14th & 12th just like those east from 14th, I think the boundary should move to 12th.

  9. Since the no pizza delivery zone is south of Jackson to I-90 how about going against the status quo an extend south to I-90. This area is part of the CD as well.

  10. we hear constantly that housing prices are collapsing. why hasn’t my rent gone down? folks are moving out of homes they owned and into the rental market which was already constricted by condo conversions. has anyone else had their rent go up very recently? any reports being made about rental prices?

  11. I read a report today that stated rents in Seattle are up 7% over the last year. I think the rental market stays slanted toward the landlord beause it is still pretty costly to buy rather than rent. Part of it depends on where you live. Here in the CD we have to compete with students for housing options so there is more demand and the rents go up.