Consider The School District When Buying

As you begin your home search, there are plenty of things you already know to factor in the decision: price, neighborhood attributes,  beds and baths, square footage, and proximity to work. But have you considered looking into which school districts are round the neighborhood you’re searching? In Seattle as we know many new homeowners aren’t planning on having children anytime soon or maybe not at all, but this doesn’t mean that you should cast the school district factor aside; even if you do not have children or do not plan to, the quality of education nearby can greatly affect how much you pay for your home, and how much you can expect to sell it for in the future. You’ll pay more for your home if it is within a good school district. Parents of school age children are always searching for high school ratings, and often will pay more to live in a zoned neighborhood within a highly rated district. A good school district can also protect you from the ups and downs of the real estate market; even in an unpredictable market, a home in a great school district will likely see nearby home values staying consistent or above the median. This will protect you when it comes time for the resale, and although there are no guarantees, you can rest assured parents will always be looking to move to the best neighborhoods with the top schools. For more information on Seattle real estate, please contact your local agent today.

Check out our “Neighborhood Schools” tab above for more information on the schools in the Capitol Hill neighborhood!

Capitol Hill Real Estate – 2016 in Review

Capitol Hill HomesCapitol hill real estate, like Seattle real estate, continued to be strong in 2016.  Capitol Hill home market in 2016 seemed uninterrupted from 2015.  Prices were up in total ($983,591 average vs $981,161) and cost per square feet ($460 average vs $439), days on marketed decreased (25 vs 32), and the number of sales increased (221 vs 204).

Capitol Hill condos still attracted Seattle buyers in 2016 like they did in 2015.  While the number of condos sold reduced (349 vs 365) nearly all other numbers improved. Median sales price ($399,000 vs $355,000) and average price per square foot ($552 vs $492) went up.  The numbers of days on market tightened with condos staying on for only 18 days in 2016 versus 23 days in 2015.

Maybe the most astonish number for the previous two years is both the Capitol Hill homes and Capitol Hill condos on average sells for over list price.  In 2016, the average Seattle home on Capitol Hill sold for 103.1% of list price in 2016 and 103.6% in 2015 and the average Seattle condo on Capitol Hill sold for 104.2% of list price in 2016 and in 2015 it was 102.7%.

The Capitol Hill real estate market is similar to Seattle and the surrounding counties.  The overall real estate market in the region (area covered by Northwest Multiple Listing Service which serves 23 Washington State counties) saw an 8.1 increase of sales in 2016 when compared to 2015 with inventory at a record low for most of the year.  For the 23 counties, the median sales price increased 8.9 percent from $310,000 in 2015 to $337,500 in 2016.  Condos, which make up a smaller share of the market, were actually up 12.6% while single-family homes increased 8.7%.

Inventory was tight throughout the year, there was an average of 1.86 months of inventory in 2016, compared to 2.4 months in 2015.  King County was the tightest with only 1.1 months of supply.  A balanced market is generally considered to be between 4 and 6 months of inventory.

2017 seems to be taking over where 2016 left off.  Low inventory remains and prices remain strong.  As always, to maneuver the market, reach out to your local real estate agent to navigating the Seattle real estate market.

These statistics were gathered from the Northwest Multiple Listing Service, but were not compiled or published by that organization.

Pictured: Capitol Hill Home sold in August 2015 for $2,550,000.

November Real Estate Report!

Like the rest of Seattle, Capitol Hill real estate market continues to be very strong. This past month (November), Capitol Hill had 37 sales. While not a lot of sales, the details are interesting. Last month, the traditional Seattle home was listed for $849,880 and sold above asking price: $1,136,000. Another home was listed for $1,375,000 and sold for $1,510,000. With limited inventory, buyers are competing and raising the prices even higher than asking.  The median average sale price has gone from $447,500 (November 2015) to $567,500 (November 2016). The average highest price has jumped by $204,000 and lowest going up by $55,000. A couple sales can change the average quite a bit, for example Capitol Hill had several small condos sell in, what a difference a year makes!

 

Seattle Asian Art Museum Renovation

Seattle Asian Art

Beginning in the spring of 2017, the Seattle Asian Art Museum will close to undertake a major renovation that is slated to cost in the neighborhood of $45 million dollars.  The renovation, which will be the first the museum has undergone since its construction in 1933, will modernize the facility while preserving the integrity of the historic building.

In 1990 the Seattle Art Museum moved from its original building in Volunteer Park to downtown Seattle. The museum’s original building was converted to house the museum’s vast collection of Asian antiquities and opened to the public under the name the Seattle Asian Art Museum in 1994.

The Volunteer Park museum building was designed by architects Carl F. Gould and Charles Bebb in the Art Moderne style and opened to the public in 1933.  As a conscious reaction to Art Deco, with its exuberantly decorative historicism, Art Moderne was optimistically modern. Designers abandoned ornament and instead took inspiration from the smooth surfaces of the machine. With its bold horizontal massing and smooth, limestone facades, the Seattle Asian Art Museum fits well within the canon American Art Moderne architecture and due to this the building was declared a Seattle City Landmark in 201

The first in a series of community feedback sessions is set to occur at the Seattle Asian Art Museum 10:30 a.m. to noon Saturday, July 16, in the Alvord Board Room, which will include updates on the design process. LMN Architects has been hired on to the project.

Central Co-op Announces Interest in Upcoming Capitol Hill Station development

A preliminary rendering of the future Broadway development flanking the new Sound Transit stop.

A preliminary rendering of the future Broadway development flanking the new Sound Transit stop.

During its annual owner meeting Sunday evening, Central Co-op announced that is pursuing the anchor tenant space in the Capitol Hill Station’s four-site, mixed-use project that will surround the recently opened transit station. Dan Arnett, the cooperative’s president and CEO believes that Central Co-op is “not only the best option for the site but [that] there’s a cultural link.”

Central Co-op’s upcoming formal proposal for the site pits the co-op against New Seasons, a Portland-based grocer that announced its interest in the location earlier this year. While both stores emphasize regional and organic food, Central Co-op’s workforce is unionized while New Season’s is not.

New Seasons’ interest in the Capitol Hill Site sparked dissent from labor advocacy groups earlier this year. Several groups sent a letter to the Sound Transit board, opposing New Seasons as the anchor tenant for the development. The groups argued that “access to jobs for low-income communities and opportunities for locally serving businesses” should be high priorities for the development project. Sound transit, however, does not involve itself in tenant selection which is being left to Gerding Edlen, the developer of the project.  Gerding Edlen, the developer of the property, confirmed that, in addition to New Seasons, “we have received interest from other potential anchor tenants. We have not determined our anchor tenant yet.”

A potential grocery store is far from the only tenant going into retail spaces. Along with more traditional shops, Gerding Edlen envisions a large “bazar” called “The Market House”, which will include a mix of retailers housed in booths of varying sizes to accommodate start-ups as well as more established retailers.

OutWatch Group To Conduct Late-Night Patrols of Capitol Hill Streets

cal anderson

In response to a recent duo of violent attacks in the neighborhood – a rape and an attack on a drag performer – Jennifer Dietrich, who runs Capitol Hill’s Dr. Jen’s House of Beauty, is spearheading the formation a new public safety group called OutWatch, in an effort to make people feel safer walking around Capitol Hill at night.

The patrols, which will will be made up of groups of four, including two people trained in self defense, would operate from about 10:00 p.m. to 3:00 a.m., Thursday through Saturday, and would be available to escort people to their cars or to other safe places. According to an article about the meeting in The Seattle Times, Dietrich said, “Whoever lives and works up here should be able to get from point A to point B without being afraid or without being attacked.”

OutWatch hearkens back to an early-1990s group called Q Patrol, whose members were trained in self defense and patrolled the streets in response to gay-bashing incidents in the neighborhood.

Cab Driver Robbed at Gun Point

policeA cab driver was flagged down by a potential fare around 3:00am this morning near the intersection of 12th Avenue South and South Main Street. The 21 year old suspect got in the car and as he and the driver began talking two more suspects entered the cab, pulled out hand guns and demanded money from the driver. They pistol whipped the driver in the head but he was able to jump out of the car, run away and call 911. The suspects stole the driver’s cell phone and GPS unit before getting out of the cab and into two separate waiting vehicles.

Officers arrived within minutes of the driver calling 911. Police stopped a Chevy Caprice a few blocks away with five men in the vehicle. The driver of the vehicle gave officers permission to search the car. Officers found two hand guns, one reported stolen, and the GPS unit from the cab. The cab driver was able to positively identify the main 21 year old suspect despite suffering cuts and bruises to his head. The other men were identified and released.

The 21 year old suspect was arrested and transported to the East Precinct where while in a holding cell he attempted to dispose of a baggie containing methamphetamines. He was later booked into the King County Jail for robbery and felony drugs.

Robbery detectives are following up on the investigation and attempting to locate the other suspects. Please contact the Seattle Police Department if you have any information regarding the incident.

Man Arrested After Bank Robbery

cuffsA man believed to be in his 60’s walked into a Capitol Hill bank on Broadway and Thomas around 10:45am Wednesday morning, gave the teller a demand note and walked out. The Seattle Police Department was called. After checking to make sure everyone in the bake was alright, police arrested the suspect after spotting him on Broadway and E Olive.

Man Attacks Friends when They Refuse to Share Beer

A group of girls ran into a man who was an acquaintance while out on Capitol Hill last Friday night. He joined the girls as they went to multiple bars. Everything was fine until hey stopped for a bite to eat after the bars closed. The man bought the girls slices of pizza. One of the girls bought beer from a nearby market. The man became agitated when he wanted a beer and the girl would not share. He then became angry and yelled at the girls. One of the girls called a male friend to pick them up. When he arrived he witnessed the acquaintance yelling at the girls. As the girls were getting in the friend’s car the man began throwing full cans of beer at them, hitting one girl in the glasses and smashing the windshield of the car. The male friend was kicked by the acquaintance when he got out of the car to yell at him. The police were called and the acquaintance was arrested for attacking his friends and booked into jail.

Capitol Hill Craftsman Home Available

This lovely 4 bed 2 bath craftsman home in the Capitol Hill neighborhood is now available for rent! The home has a gourmet kitchen with an island breakfast bar for gathering around the kitchen. There is also a formal dining room, and large living room with hardwood flooring. The top floor hosts a master bedroom with a nice sitting area and two additional bedrooms, while the lower level has a family room and additional bedroom. Fore more information on this home or other Seattle Rentals visit Ewing & Clark.

Status: For Rent
Bed/Bath: 4/2.0
Price: $3,900