There are no signs that the current trends of low inventory, rising prices, short sales times and multiple offers will be abating anytime soon.

For NW Seattle, including Ballard, Fremont, Green Lake, Phinney and Wallingford) there continues to be only about a 1 month supply of single-family home inventory. This tight inventory can be attributed to continued low interest rates, robust Puget Sound area hiring and a generally improved economy including significant gains in the stock market. Whether the market will become more “balanced” (defined as a 3-6 month supply of homes) will hinge on many more listings hitting the market over the coming months.

Of NW Seattle homes closed in April the average sale price was almost 103% of the most recent list price.  This indicates continued multiple offer situations.

Prospective buyers also should think in terms of at least a minimum of 3-5+ year home ownership horizon and preferably maintain the option to hold onto their home through future downturns in the market. Home seller costs (excise tax, title/escrow fees, sale commissions) of approximately 9% of the sales price should also be factored into any decision to purchase.

Click here for more stats on other Seattle neighborhoods. John Madrid is a Managing Broker with John L. Scott Real Estate – University Village and is a 2005-2012 Seattle Magazine “Five Star” Agent. His clients include both home buyers and sellers. He can be reached at 206-498-1880, john@live206.com or www.live206.com.

Statistics are deemed reliable but are not guaranteed.  All information should be verified to the users own satisfaction.

May 3rd, from Seattle City Light:

At  12:20 a.m. a person climbing a Seattle City Light Transmission tower near 3^rd Ave. NW and NW Leary Way  came in contact with the 120 kV line.   Seattle City Light, Seattle Fire Department and Seattle Police all responded to the site after an initial report of a fire.  Police on scene said witnesses told them a man was seen climbing the tower and they saw a large flash and an explosion.  This would be consistent with an object causing a short circuit on a high voltage line.  The tower is 200 feet tall, and the man was seen to fall to a platform on the tower’s 150 ft. level.  Police determined that the man was dead.

Seattle City Light crews rerouted power and then de-energized all the circuits on the tower, so fire rescue could safely recover the body.  Only one customer lost power during this period.  City Light crews found no evidence of damage to the tower or the high voltage line.

Seattle City Light is reviewing how an unauthorized person could climb the tower.  There are no ladders on the tower near the ground level. Police are investigating this as a trespass and accidental death.

Power was restored at 7 a.m. to the customer that lost power during the recovery operation.

Ivar’s and Kidd Valley are celebrating the best in educators.  In honor of National Teacher Appreciation Month in May, the iconic Puget Sound restaurants are calling on all kindergarten through eighth grade students to nominate the best teachers in Washington for a chance to win 2013 Teacher of the Year bragging rights. This year is the 10^th anniversary of Ivar’s and Kidd Valley Teacher of the Year programs.  To celebrate, the top teacher selected as the grand prize winner by both will receive a $1,000 gift card for school supplies  (which is double the previous years’ grand prize) as well as the title of Ivar’s Teacher of the Year or Kidd Valley Teacher of the Year. In addition, the nominating students of the grand prize winners will win “either an Ivar’s Kids Meal for every student in their class (including a visit by Ivar’s famous Dancing Clam!) or a delicious Kidd Valley burger party. As a bonus prize students will receive an admission ticket to Imagine Children’s Museum in Everett, courtesy of the museum.”

To nominate a teacher, students 14 years of age or younger can visit any Puget Sound area Ivar’s or Kidd Valley location (excluding stadiums and Eastern Washington stores) to complete an official entry form, or go online to Ivar’s Teacher of the Year or to Kidd Valley Teacher of the Year. In addition to the entry form, students may also submit optional artwork or photo as “extra credit” that best represents their appreciation. All entries must be received by May 27, 2013. The official Teacher of the Year rules can be found on Ivar’s and Kidd Valley websites. In addition to the two Teacher of the Year grand prizes, the contest will also award four teachers a first prize of a $150 gift card for school supplies, and 30 teachers will receive second prize of a $25 Ivar’s or Kidd Valley gift card.

 

 

The public is invited to an open house to get updates on design plans for King County’s Fremont Siphon Replacement Project tonight (Tuesday, March 26),from 5:30 to 7:30 p.m. at the Fremont Public Library, 731 N 35th St., Seattle. From King County’s webpage:

At a workshop last January, King County sought community input on the design of a new facility that will be built in Fremont as part of a project to replace aging sewer lines beneath the Lake Washington Ship Canal.  Project staff will present two design options for the Fremont site and discuss how community input shaped concepts around landscaping, architecture and other site elements. People are invited to share their views on the new design options. Staff will also be available to answer questions and talk about other project-related plans and schedules.

The Fremont Siphon Replacement project is currently in design, with construction expected to start around mid-2014.

King County also operates the Ballard and Montlake Siphons, which run beneath the Ship Canal and convey waste water from North Seattle to the West Point Treatment Plant in Discovery Park. For more info click here, or to arrange accommodations for people with disabilities at the open house, please contact Adair Muth at 206-263-7319 or 711 TTY Relay.

By Emily Mathews

The Fremont PCC Natural Market has an Easter event planned for Saturday, March 23, from 9 am to noon. Bring your kids in to make crafts, earn prizes by guessing the number of jelly beans, and enjoy a free treat. The Easter Bunny himself will also be making an appearance and will be available for pictures. The event is free for children twelve and under.

(This is a sponsored story by John Madrid, Managing Broker with John L. Scott Real Estate).

It continues to be a seller’s market in Northwest Seattle including Ballard, Fremont, Greenwood, Phinney and Wallingford neighborhoods where there is a little over one a month supply of single-family home inventory. If you are a fortunate home seller expect to see a lot of open house traffic, buyer “love letters” and possibly multiple offers if your home is located in a popular neighborhood and is competitively priced.

And what to do if you are a home buyer? First, get your financial ducks in-a-row by getting preapproved by a local lender who is available in the evenings and on weekends.  Second, try to get out to see homes before the weekend which will give you more time to line-up pre-inspections if offers aren’t being reviewed for a few days.  Third, reduce the number of contingencies within your comfort level. Finally, write that love letter even if it’s just a short paragraph in addition to a summary of your offers terms. Don’t go overboard but in this market it just may help you stand out from the pack.

More info on other Seattle neighborhoods can be found at http://www.live206.com/seattle-area-market-update-c21537.html

John Madrid is a Managing Broker with John L. Scott Real Estate – University Village and is a 2005-2012 Seattle Magazine “Five Star” Agent. His clients include both home buyers and sellers. He can be reached at 206-498-1880, john@live206.com or www.live206.com.

Statistics are deemed reliable but are not guaranteed. All information should be verified to the users own satisfaction.

By SIMON THWAITS

UW News Lab

Use of Seattle’s pre-paid parking program to prevent drunk driving, sometimes referred to as the “liquor sticker,” has continued to increase, said Seattle Mayor Mike McGinn at a press conference last Wednesday at Spitfire, a sports bar in Belltown.

“We launched the pre-paid parking program in April, 2011 and when we did that we had 600 purchases in that month for pre-paid parking,” said McGinn. Now the program is averaging 2,500 uses per month and has a total of more than 45,000 uses.

The program, part of McGinn’s Seattle Nightlife Initiative, allows people to pay starting at 10 p.m. for two hours of parking for the next morning. By doing so, people can ensure they get home safely by taking a cab or public transit, then pick their car up before 10 a.m. the next day. The liquor sticker is available at any parking meter in the city.

“We’ve been working really hard in the city to give you options so that if you want to go out and have a good time and enjoy yourself, you don’t need to drive home,” said McGinn.

“We’re super thrilled about how well it’s been used, how well it’s been received,” said Jerry Everard, the owner of Spitfire.

Mike Nolan, captain of the Seattle Police Department, also spoke in praise of the program.

“This sticker program not only is an educational outreach, it’s a proactive prevention that is where ultimately we want to be,” he said. “It encourages people not to get behind the wheel of any kind of a vehicle when they’re impaired.”

The event also served as a warning to people not to drink and drive during the St. Patrick’s Day holiday weekend. McGinn said that there will be additional DUI patrols over the weekend.

“People love having a good time on St. Patrick’s Day,” he said. “We really care about people driving while impaired. We don’t want them to do it.”

More information about McGinn’s Nightlife Initiative and safe ways to get home this holiday weekend can be found at seattle.gov/mayor/nightlife

(SIMON THWAITS  is a student in the University of Washington Department of Communication News Laboratory.)

By Emily Mathews

March is going to be huge at The Book Larder, Fremont’s premiere foodie bookstore.  This month they will feature a St. Patrick’s Day Feast with Rachael Coyle, as well as a Veggie Class from Super Natural Every Day. And what better way to celebrate the return of farmer’s markets than a Knife Skills class with Anna Berman or a Monday Lunch Break Class? The in-store author talks for the month will celebrate some Seattle locals, including Johnathan Sunstrom–the head chef/owner of the restaurant Lark in Capitol Hill–and the Pike Place Fish Guys. The Book Larder website includes all the dates and details so, if you’re a budding chef or a cooking enthusiast, check it out.

(This is a sponsored story written by John Madrid, Managing Broker with John L. Scott Real Estate).

“A house, a house, my kingdom for a house”. If you are in the market for a new home you can probably empathize with Shakespeare’s King Richard III.  Single-family homes, townhomes, and even condos are all in short supply throughout most the city.

For Northwest Seattle (including Ballard, Fremont, Green Lake, Phinney and Wallingford) there is now less than a 1 month supply of single-family home inventory which is definitely favoring home sellers with the result that homes are really hard to come by.  We will continue to see more pre-inspections, multiple offers, and bidding wars on the fewer listings hitting the market.

Why the shortage of homes for sale?  First, some home owners simply can’t sell since they have negative equity (they owe more than their home would sell for). Second, are home owners who can’t find a new home to upsize or downsize into that would allow them to put their existing home on the market.  Third is that some home owners are either unaware of the improved market for sellers or they are content to stay in their current home rather than over extend themselves. Fourth, are owners betting on continued prices gains over the coming months and years. A final factor has been the significant slowdown in new construction, up until last year, that typically helps alleviate the demand for more housing stock.

In addition to a reduced supply, demand has picked up with the influx of new hires (Amazon, Microsoft, etc). There is also a general belief that home prices and interest rates have only one direction to move and that is up.   Many renters have concluded that, with big jumps in rent, buying a home may be the wiser long term investment especially if they are able to lock in these historically low interest rates.

Home prices will continue to rise until there is more of supply/demand equilibrium.  If you are looking for a home there are a couple potential silver linings over the coming weeks and months. First, is that we are entering the historically seasonal high point for new inventory. Second, is that interest rates aren’t expected to move significantly upward until the end of the year at the earliest.

More stats on other Seattle neighborhoods can be found at http://www.live206.com/seattle-area-market-update-c21537.html

Tip:  The fewer contingences (i.e. finance, inspection) a home buyer has, the more attractive they are to a home seller, especially in multiple offer situations.    Believe it or not, buyer “love letters” to sellers can swing things into a buyer’s favor, just don’t overdo it.

John Madrid is a Managing Broker with John L. Scott Real Estate – University Village and is a 2005-2012 Seattle Magazine “Five Star” Agent. His clients include both home buyers and sellers. He can be reached at 206-498-1880, john@live206.com or www.live206.com.

Statistics are deemed reliable but are not guaranteed.  All information should be verified to the users own satisfaction.

From Meghan Walker with our sister site myballard.com

photos courtesy of Lacey Lybecker

The world of whiskey (or whisky, if you please!) is far and wide, but there is no need for regional travel or crossing country lines to taste the best in Northwest beverages or a vertical line-up of single malt Scotch. Hop Scotch Beer & Scotch Festival… features a tasting flight with six whiskies handcrafted by Northwest distilleries, plus a vertical flight of five single malt Scotches from The Glenlivet. Guests can sip on Scotch from far away Scotland, stay local with Northwest whiskies, or sample both flights to test their taste buds on the difference.

(This is a sponsored story written by John Madrid, Managing Broker with John L. Scott Real Estate).

What a difference a year makes … sale prices continue their climb and time on market continues to drop. It is definitely turning into a seller’s market.

For the 11th consecutive month the median sale price for single-family homes sold in Northwest Seattle, including Ballard, Fremont, Green Lake, Phinney and Wallingford, met or exceeded the sale price for the same period a year prior. Much of this trend can be attributed to a decrease in the supply of homes for sale in 2012 compared to 2011.

In addition to a shortage of inventory, record low interest rates, continued strong hiring by Amazon, Microsoft and a slew of smaller to midsize companies and a general belief that the market has hit bottom has resulted in strong appreciation for most Seattle home owners and sellers in 2012.

The median sale price for single-family homes sold in 2012 in NW Seattle was $425,000 compared to $399,000 for 2011, a 6.5% increase. The average time on market decreased to 32 days in 2012 from 42 days in 2011.

A less than a 3 month supply of homes is generally considered a Seller’s market. The overall supply of NW Seattle homes averaged around 1.4 months of inventory for 2012 compared to a little less than a 3 month supply for 2011.

Expected trends for 2013 include continued low interest rates and inventory as well as multiple offers situations for competitively priced homes in popular neighborhoods including most of NW Seattle with its great walkability, popular schools and proximity to downtown.

More stats on other Seattle neighborhoods can be found here.

Tip: Even in a strong home Seller’s market amazing photos and professional marketing materials (including a custom website and full color two sided flyers) can result in a quicker sale and the best sale price.

John Madrid is a Managing Broker with John L. Scott Real Estate – University Village and is a 2005-2012 Seattle Magazine “Five Star” Agent. His clients include both home buyers and sellers. He can be reached at 206-498-1880, john@live206.com or www.live206.com.

(Statistics are deemed reliable but are not guaranteed. All information should be verified to the users own satisfaction.)

Over the holiday break, two Seattle Pacific University students were involved in separate accidents in Oregon. Sophomore Drake Edwards from West Linn, OR was killed in a car accident on December 23. Another sophomore, Richard Sohn from Everett, Washington, was involved in a tour bus crash near Pendleton, OR on December 29 that resulted in fatalities and injuries. There has not been an official update as of yet on Richard’s condition.

SPU President Daniel J. Martin sent an email to SPU students as they were returning for Winter Quarter, which included the following:

As a result of learning about Drake’s passing before I left to visit family, I spent a great deal of time over break reflecting about our community, relationships, and those who experienced a very different Christmas and New Year’s Eve than they had anticipated. Certainly, the Edwards and Sohn families, those affected by the horrific act of violence in Newtown, Connecticut, and other members of the SPU community who have lost loved ones recently are among these. My thoughts and prayers have been with them all.

A service of remembrance for all in the SPU community who have lost loved ones in recent months is being planned for Friday, January 4, at 5 p.m. in First Free Methodist Church, adjacent to the SPU campus.

From Seattle.everyblock.com
This took place or on Dayton Ave, between 44th and 45th on December 24th:

Last night I took [my dog] outside around 2am and caught a prowler dressed in all black coming down the driveway between the 2 townhouses across the street! He tried to hide against the fence and I pretended not to see him. Once back inside I called the police even though I knew he would be long gone. It was an incredibly scary experience.

Agrodolce, the much-anticipated third restaurant from James Beard Award-winning chef Maria Hines opens tonight in Fremont!

Tilth executive chef Jason Brzozowy will also take on the executive chef position at Agrodolce. He will assist Maria with executing her menu at Agrodolce and continue to create new menu items alongside Maria at Tilth. The menu focuses on Southern Italy, specifically Sicilian cuisine. Like Maria’s other restaurants, Tilth and Golden Beetle, it will also carry the organic certification from Oregon Tilth:

The menu will focus largely on handmade pasta, which Maria has been producing for six years at her award-winning restaurant, Tilth, and has received noteworthy acknowledgements for. Agrodolce pasta specialties will include Ricotta Stuffed Fagottini with black truffle butter, marjoram and garlic; Spaghetti with Skagit River Ranch sugo, hot pepper and red wine; and handcut Tagliarini with Sicilian pistachio, sweet myrtle and pecorino. Housemade burrata will star on the Agrodolce menu, served with cylindrical beets, citrus honey gastrique and mint. Other Sicilain inspirations from Maria’s trip will include Arancini with Skagit River Ranch beef, tomato and carnaroli rice;Bucatini with pine nuts, sardine, wild fennel and golden raisin; Rice Croquettes with citrus honey and vanilla bean; Lamb Meatballs with dried currants, grilled radicchio and onion marmalade; and for dessert, housemadeLimoncello Sorbetto with lemon-thyme and candied fennel and Theo Chocolate Budino with pizzelle cookie, whipped cream and mint.

Agrodolce is the latest in the cozy space that has been home to much-loved restaurants such as 35th Street Bistro and Still Life Cafe ( 709 N. 35th Street). According to sources, the 43-seat trattoria will

keep the longstanding indoor ficis tree, its soft lighting and colors, wall of large paned glass windows and outdoor patio. The additional 13-seat bar will feature Italian and Northwest wines and a cocktail list. As done at her two previous restaurants, Tilth and Golden Beetle, Maria’s hand will embrace the interior design accents for the entire restaurant.

Click here to learn more about Agrodolce, its organic certification from Oregon Tilth and MariaHines’ other restaurants.

Agrodolce is open for dinner Tuesday through Sunday from 5 p.m.