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MARCH 8, 2017
Is the Residential Market in Queen Anne and Magnolia in a Bubble?
Wikipedia defines I am occasionally a real estate bubble asked if we are about as a “rapid increase to repeat the whole in valuations of real fiasco again. My property until they reply is there is little reach unsustainable to no chance of that levels and then happening. In 2006 we decline in a bubble”. were in an overbuilt Ken Graff situation, and loose Nearly a decade after the peak of the and often fraudulent COLDWELL American real estate lending practices were BANKER BAIN bubble, a crash in in place. Today, unlike much of the US in 2006, buyers must 2007 and a sharp downturn meet much more stringent locally between ’07 and 2009, standards to be approved for
a loan. For the current Queen Anne and Magnolia markets to be in a bubble, we would have to be in an overbuilt situation and have unqualified buyers getting into homes they can’t afford. Where we currently stand, the chance of a bubble is pretty much zero. Per Realtor.com, in 2007, just before the housing crash, U.S. existing home inventory peaked at 4.04 million ➧ BUBBLE, Page R3
February Homes Active in Magnolia Address RE102416 Undisclosed
Bed
Bath
Sq Ft
Year Built
Days on Mkt
Original Price
List Price
12
3.50
4,180
1950
71
$1,400,000
$1,400,000
4812 40th Ave W
6
3.00
3,590
1984
18
$1,450,000
$1,450,000
2515 2856 4763 5230 5659 4568 4334 3035
5 4 3 4 5 3 4 4
2.75 3.25 1.75 1.75 5.0 3.0 4.75 3.75
4,180 4,540 2,700 3,050 7,130 4,760 5,800 7,610
1957 2012 1957 1948 2013 1993 1919 1995
3 33 243 169 454 1 262 211
$1,875,000 $2,595,000 $3,199,000 $3,250,000 $4,250,000 $3,680,000 $5,188,000 $7,950,000
$1,875,000 $2,595,000 $2,750,000 $2,950,000 $3,500,000 $3,680,000 $4,950,000 $7,950,000
42nd Ave W 44th Ave W W Roberts Wy 40th Ave W 42nd Ave W W Cramer St W Cramer St Perkins Lane W
February Homes Active in Queen Anne Address
Bed
Bath
Sq Ft
Year Built
Days on Mkt
4 4 4 5 3 2 2 2 5 5
3.25 1.75 2.50 2.75 3.00 2.50 2.50 1.75 5.00 4.75
3,200 2,700 2,960 3,640 4,270 3,050 3,050 2,592 6,150 7,125
2016 1906 1911 1910 1924 1970 1970 1974 2007 1913
117 71 36 221 1 51 51 855 620 127
1222 W Bothwell St 3042 15th Ave W 1917 9th Ave W 1428 9th Ave W 319 Prospect 1217 Willard Ave W 1217 Willard Ave W 111 W Highland Dr #6W 1201 7th Ave W 1220 7th Ave W
Original Price $1,489,980 $1,000,000 $1,695,000 $1,948,800 $2,950,000 $3,150,000 $3,150,000 $4,950,000 $7,500,000 $7,500,000
List Price $1,489,980 $1,499,999 $1,595,000 $1,948,800 $2,950,000 $2,996,000 $2,996,000 $4,950,000 $5,395,000 $6,895,000
February Homes Closed in Magnolia Address 3014 3839 3027 4512 4009 4007 4420 2561 2808 4012
@ qamagnews
21st Ave W #A 33rd Ave W 30th Ave W #A W Cramer St W Briarcliff Lane W Briarcliff Lane 31st Ave W 26th Ave W 43rd Ave W Washington Ave W
Bed
Bath
Sq Ft
Year Built
Days on Mkt
Original Price
3 3 3 3 4 4 4 4 5 4
2.00 2.50 2.50 1.50 2.50 2.50 3.50 3.50 3.50 4.25
1,610 1,690 1,840 1,730 2,265 2,265 2,967 3,653 3,940 6,278
2015 1943 2006 1975 2015 2015 2017 2017 2015 1904
9 11 6 84 125 79 0 6 10 5
$699,950 $729,000 $709,950 $1,090,000 $999,995 $1,019,995 $1,300,000 $1,988,000 $2,598,000 $2,800,000
List Price $699,950 $729,000 $709,950 $950,000 $999,995 $999,995 $1,300,000 $1,988,000 $2,598,000 $2,800,000
Sold Price $759,950 $765,000 $785,000 $850,000 $1,016,355 $1,048,995 $1,300,000 $1,925,000 $2,598,000 $2,800,000
February Homes Closed in Queen Anne Address 321 W Olympic Place #D 327 W Olympic Place #C 720 3rd Ave N #O 305 Valley St #C 1506 1st Ave N 3024 10th Ave W 1958 10th Ave W 200 W Highland Dr #104 1623 8th Ave W 3411 12th Ave W
Bed
Bath
Sq Ft
Year Built
Days on Mkt
Original Price
2 2 3 2 3 4 5 2 5 6
2.50 2.50 1.75 1.75 1.50 2.25 2.75 1.75 2.25 5.75
1,503 1,503 1,386 1,327 2,650 2,700 2,530 1,762 3,600 5,258
2016 2016 2016 2016 1908 1930 1930 2009 1908 2017
49 142 107 21 0 7 32 6 16 0
$979,000 $1,149,000 $989,900 $999,900 $1,150,000 $1,350,000 $1,750,000 $1,550,000 $1,899,000 $1,955,000
Asking Price $979,000 $999,000 $989,900 $999,900 $1,150,000 $1,350,000 $1,648,000 $1,550,000 $1,699,000 $1,955,000
Sold Price $950,000 $975,000 $989,900 $999,900 $1,355,000 $1,362,000 $1,540,000 $1,616,000 $1,700,000 $1,955,000
Information supplied by Northwest Multiple Listing Service
VOL. 98, NO. 10
5806A 14th Ave NW
Located in Ballard Modern town homes with European influences and energy efficiency throughout 3bdrm/2bth. Rooftop views. Enjoy all the amenities of historic Ballard while living in modern luxury. See website blog for open house dates. MLS #1083444
Judy Delen 206.850.0186 Broker - Professional Home Stager judy@bluepacificre.com www.BluePacificRE.com Blue Pacific RE, Inc
Home Design Trends... Make style the focus of your home renovation (Family Features) If a home makeover is on your horizon, it’s the perfect time to take note of design trends that may help shape your project. Today’s hottest looks leave plenty of room for personal interpretation, so it’s easier than ever to incorporate the latest looks for a home that seamlessly blends your personality with on-trend decor and design elements.
Eye-catching detail
Understated elegance, a look that many designers have favored in the past, is losing ground to more prominent design features that make no bones about attracting attention. Colorful woodwork in the kitchen, vibrant patterns such as marble countertops, jewel-toned textiles and bold details like nail-head patterns on furnishings are all evidence of a bolder style. The trick is to blend elements carefully and avoid competing pieces that create more of a mish-mash than a stylish statement.
The “fifth wall”
The ceiling represents an untapped design opportunity with the power to completely Source: Velux transform spaces from top to bottom. Incorporating the “fifth wall” into your design allows you to set your sights higher than the average wall. Current interior design trends show an increased use of vibrant colors, creative wallpapers and even wood cladding on ceilings, aiming to make a statement that places the fifth wall at the center of a room’s overall decor. Another must-have for a stunning fifth wall design is skylights, which provide a connection to nature, whether it’s a view of the sky on a sunny day, treetops, a passing rain storm or a starry night sky. Skylights provide balanced, natural light that can make colors appear truer while enhancing interior decor. In addition, strategically introducing natural light from ➧ TRENDS, Page 2