Queen Anne & Magnolia News Real Estate - June 2018

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JUNE 13, 2018

VOL. 99, NO. 24

Will Seattle’s real estate market remain hot with the new “head tax” on large corporations? Last month, Seattle will take its place. The city council signed the anticipated impact is a $275 per employee tax slowing of hiring and - commonly referred to job creation among as the “head tax” – into impacted employers. law. The law impacts Some worry existcompanies grossing ing positions could be $20 million or more relocated elsewhere. in annual revenue and Although companies will impact an esti- Sam Konswa like Facebook, Expemated 585 employers dia, and Google stated in Seattle. Amazon, they don’t intend to QUEEN ANNE which publicly opcease their plans for REAL ESTATE posed the tax, is among hiring, relocating, or them. The tech firm new building conceased new building projects pro- struction respectively, some resijected to create 8,000 or more jobs. dents are skeptical. The law’s passage has some SeA few companies have discussed attle homeowners concerned about relocating new and some existthe tax’s second order effects: the ing roles to locations outside of impact on the real estate market. Seattle’s borders but would keep The Seattle market has long been the positions in the greater Seattle considered one of the nation’s hot- area. This would continue the outtest and most upwardly trending ward growth trend of Seattle based markets – in no small part due to companies establishing additional job growth from large companies offices in Eastside locations like like Amazon. The influx of de- Bellevue and Kirkland or to the mand caused by job creation cou- north in Everett. For example, pled with low housing inventory Fremont-based Tableau has floatlead home values and rental rates ed the idea of transitioning some to increase to all time highs. roles and new positions to their As implemented, the law will be Kirkland office. in effect for 5 years and seeks to Seattle can take notes from San solve the homelessness problem. Francisco’s similar tech and real After 5 years, a 0.7% payroll tax estate boom. As the boom priced

Magnolia Home Sales (Low to High) Address

Bed

Bath

Sq Ft

Built

Days on Asking Price Market

Sold Price

Sold Price/ Asking Price

3431 34th Ave W

3

1.75

1720

1973

7

$869,000.00

$914,500.00

105%

3726 28th Ave W

3

1.5

1780

1951

7

$873,500.00

$940,000.00

108%

3444 35th Ave W

3

2.5

2490

1908

12

$974,000.00

$945,000.00

97%

2648 W Plymouth St

3

1.75

2120

1909

7

$899,000.00

$975,000.00

108%

3201 31st Ave W

3

1.75

1900

1942

7

$839,950.00

$982,000.00

117%

2339 W Plymouth St

3

2.5

1910

2018

3

$1,099,950.00

$1,099,950.00

100%

3034 38th Ave W

3

1.75

2340

1940

7

$899,000.00

$1,105,000.00

123%

2925 28th Ave W

3

2.25

2850

1931

4

$1,100,000.00

$1,225,000.00

111%

2425 33rd Ave W #402

3

2

2023

2003

7

$1,200,000.00

$1,250,000.00

104%

3227 44th Ave W

4

2

2280

1952

7

$995,900.00

$1,260,206.00

127%

2103 Condon Wy W

4

1.75

2800

1929

23

$1,350,000.00

$1,350,000.00

100%

2439 36th Ave W

4

3

3640

1941

20

$1,360,000.00

$1,360,000.00

100%

2602 Magnolia Lane W

3

2.25

1940

1941

11

$1,100,000.00

$1,360,000.00

124%

3704 W Dravus St

4

2.5

3100

1951

21

$1,430,000.00

$1,400,000.00

98%

2439 Piedmont Place W

3

2.25

2680

1989

11

$1,199,000.00

$1,405,000.00

117%

2827 30th Ave W

4

2.75

2480

1949

7

$1,300,000.00

$1,437,000.00

111%

3740 W Commodore Wy

4

2.5

3000

1997

20

$1,600,000.00

$1,475,000.00

92%

2208 29th Ave W

4

3.25

3760

1937

10

$1,750,000.00

$1,900,000.00

109%

4256 W Glenmont Lane

4

3.25

3780

1928

67

$2,100,000.00

$2,000,000.00

95%

5659 42nd Ave W

5

4

7130

2013

806

$3,500,000.00

$3,300,000.00

94%

 Head Tax Page R2

Getting Your Home’s Drop Zone in Order By Kirsten Conner, Kirsten Conner Interior Design, Photos by WH Earle Photography Is your Drop Zone in order? The drop zone is the area in a home’s entryway used to store coats, shoes, keys, mail and bags of items just brought from the car or that need to go back in the car. It serves the function of a coat closet and … a place to “drop things” quickly. For a busy family, this area can become congested with piles of items very quickly and not provide adequate function. Drop zones are usually found in the main entry into the home and need to be functional, because in many homes, this area is the first part of the home a guest encounters. Therefore, it’s an important visual part of the home: it communicates the home’s decor style, color preference up front, and is an immediate window into the inhabitant’s lifestyle. Life gets busy and, sometimes, a mess is hard to control. Our homes usually do not look straight out of a design magazine but there are steps to take to make your drop zone functional and beautiful and, most importantly, a reflection of your aesthetic and a welcoming space. Looking at this space as a design problem is a good approach. First, think about functions that happen in your drop zone. Do you need a place for keys and mail and things to immediately recycle? Do you need a place to store high-use items for your kids like backpacks and sports equipment? How many shoes do you need to  Drop Zone Page R4

BEFORE


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