Green lake Village Soft Opening, Retail Spaces Filling Fast

I’ve been so excited about Green Lake Village for so long – living close to the site for years, I was just waiting for construction to start and the unsightly great hole to go away.  I walk by it at least once per week, usually walking my dog to the lake on the weekend or to my old standby Forza Coffee.

The building exterior is now complete, and I’m sure the home interiors are pretty close to it as the new leasing office soft opens on May 17th.  But I got really excited last weekend when I walked by and saw signs up for new businesses already moving into the retail spaces.

We all know the building is anchored by a new PCC – that one is slated to open on my birthday, June 4th, and I was happy to see a liquor license sign in their window last time I passed by.   But then on the south side of the building, we’re getting a few new fitness options – Modo Yoga and Pure Barre. Modo officially opened on May 1st, so you can already check them out.

When you’re done burning calories, you can happily put them back on at the west side of the building – in the new location of Lucia Italian Kitchen, who currently operate a restaurant out of Kirkland and will open the Green Lake spot in July.  It’ll help fill a gap in that neighborhood, I feel, for Italian cuisine and good wine.

There’s a Homestreet Bank opening within the building, and a Kinetic Sports Rehab is also opening by summer.  It looks like there will still be one or two spaces for businesses, so I can’t wait to see how they round this out!

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NEW LISTING: One bedroom condo in Greenwood

Here’s a little info on my newest listing!  Waterford North is a fantastic building on N 90th just a block east of Greenwood Ave (that means it’s walking distance to Naked City Brewery, just sayin’.)

This one bedroom, one bath condo is on the market for the first time in over twenty years and priced for a quick sale at $150,000.  It has a wood-burning fireplace with tile surround, kitchen with eating bar, and a huge private patio off the living area.   The seller is offering a $500 credit at closing towards a new range, as the current one is a little old (but works).

There is one assigned parking space and one storage space in the controlled-access garage beneath.   For more information, you can call me directly at (253) 653-6299 or email sheath@matrixrealestate.com.   Or, stop by the open house this Sunday, May 4th, from 1pm to 4pm.

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MAKING A FULL PRICE OFFER? GET USED TO REJECTION.

I’m frustrated. Other real estate brokers are frustrated. A lot of homebuyers are frustrated.  In some parts of Seattle, making a full priced offer on a home just doesn’t get you anywhere anymore.

Let me give you a backstory: I have clients that are looking for a new home in north Seattle.  They’re open to a lot of different neighborhoods, but they have wants and needs just like everyone else so over the past two months of house hunting they’ve found only four or five homes they like enough to actually pursue.  And out of those four or five, they’ve so far put offers in on three of them, and lost out every time.

The first home they put an offer in on was listed at $650,000.  They didn’t get it – but whoever did paid $760,000 for it – $110,000 more than list price.

The most recent home they put an offer in on went the same way – it was listed at $650,000, and it sold to someone in the range of $760,000 + (it’s still pending).

From the time I started house hunting with these particular clients, to this past week of facing another rejection, I have felt like it’s gotten worse.  So I checked the stats – and yep, it’s gotten worse.

I took some of the most popular neighborhoods – Ballard, Green Lake, Fremont, Wallingford, and Phinney Ridge – and to narrow my stats down, I took a popular price point right now – homes between $600,000 and $800,000.   Looking back at those homes that closed in the month of January, the average sale price was 101.8% of list price – so if a house was listed for $700,000, for instance, on average it sold at $712,600.

In February, the average sale price was 102.5% of list price – or $717,500 on that hypothetical $700,000 house.  In March it crept up just a little more to 102.6% – $718,200.

Then came April.  In the month of April, the average sale price in that range and in those neighborhoods was 105.3% of list price – that means that $700,000 house is now costing on average $737,100.   And a scary thought here – the biggest percentage difference during April between list price and sale price was 123.3% – that would have made a $700,000 house $863,100.  OUCH.

I very much wish I had a point here, but I think instead this post is meant more to vent everyone’s joint frustration on the matter.   What’s my advice?  Persevere, buyers.  Don’t pay more for a home than what you value it at.  Consider how long you intend to live there.  Know that you’re not alone. Because hell, if you were alone, you wouldn’t be paying so much.

Keep on truckin’.  And punch a pillow, instead of a wall.

 

EARTH DAY RETURNS TO LATONA PUB IN GREEN LAKE

Earth Day is April 22nd, which happens to land on a Tuesday this year – but many of us will be spending this Easter weekend contributing somehow.  For example, I’m headed to Federal Way tomorrow to work with Habitat for Humanity on a neighborhood cleanup project.

Latona Pub, however, is once again continuing their awesome streak of providing a full tap list consisting only of beers that have made it to the pub by means other than motorized transportation.  Many of the kegs going on tap this weekend are from fairly close breweries like Naked City and RAM Northgate and are walked to Latona by way of hand truck.  Some, however, are coming from a little farther away, like Black Raven Brewing (about 19 miles).  That particular keg was attached to the back of brewer Tom Mace’s bike and cycled over.

This is the fourth year in a row that Latona Pub has held this tradition.   It all culminates on Sunday, April 20th, when nonprofit organization Feet First (along with a number of volunteers and participants), walk the final keg from Two Beers Brewing in SODO starting around 9:30 in the morning.  The beer, called Hand Truckin’ Amber Ale, should arrive at the end of it’s 10-mile walking trek at about 2pm where the festivities really kick off at Latona.   An auction is held at the pub and both donations and awareness benefit Feet First, who help make Washington more walkable.

Look for me (and my dad, who’s in town visiting me!) at Latona Pub that afternoon, ready to bid on a some cool prizes!

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U DISTRICT FOOD BANK PLAYS BARTENDER FOR 50 NORTH

Next Wednesday, April 23rd from 6pm to 9pm, the University District Food Bank will be playing guest bartender for 50 North Restaurant,in an effort to raise a little extra cash.

50 North is located at 5001 25th Ave NE #100 (at Northcut Landing), with free garage parking.  It’s a family-friendly restaurant and serves dinner until 9pm on weeknights with the bar closing down at 10pm.

Next Wednesday, 10% of all drink sales will be donated to the Food Bank.  Receipts will also give an opportunity to donate extra amounts to the Food Bank on your credit/debit card, and there will be tip jars around the bar collecting also.  Finally, 50 North is donating $1 to the University Food Back for every “LIKE” they receive on Facebook today through the event night, so click through and give them a like!

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JUST LISTED: TWO-BEDROOM AT HJARTA IN BALLARD

It’s not easy to find decent square footage when condo shopping in Ballard, but this 1,181 sq-ft two-bedroom home definitely provides it.   Located on the 6th floor of LEED Silver certified Hjarta, this condo has a spacious living area with slider to back patio and electric fireplace, designated dining room, and kitchen with breakfast bar, stainless steel appliances and under cabinet lighting.

The master bedroom has a walk-in closet and big bathroom with separate tub & walk-in shower.  Conveniently, the second bedroom is all the way on the opposite side of the home, with a full guest bathroom.  Washer and dryer are included, and found in the guest bathroom.

Home 610 comes with one parking space and one storage space, both located in the garage below.  Hjarta also has some fantastic building amenities – a community room with kitchenette, pool table, lounge seating and patio, and an exercise facility located off that room with separate spaces for cardio and yoga/pilates.    There’s also a large rooftop deck with seating, barbecues and a p-patch.  The building itself is solid concrete & steel.

You can call me at (253) 653-6299 or email sheath@matrixrealestate.com for more info on this condo at 1530 NW Market Street in Seattle.

Priced at $549,950

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NEW SEATTLE LISTINGS: Two Fantastic homes on the market this week

If you’re in the market for a new home in Seattle, my firm Matrix Real Estate just brought on two pretty cool homes – and they couldn’t be more different from each other!

812 15th Ave E ~ 4 beds/2.5 baths/2910 square feet.

$799,950

First up is this pretty cool Capitol Hill home built in 1906.  It’s kept most of its original charme – like leaded glass windows, fir floors, and built-in cabinetry – but it’s also had updated electrical, new high tech gas fired boiler system, new water lines.  To top it off, it’s a legal duplex with an upstairs unit that’s about 1000 square feet with two bedrooms.  It also has a garage!

This one is listed by Steve Snider and he can be reached at ssnider@matrixrealestate.com.  It’s open Saturday and Sunday (4/5 and 4/6) from 12-3 each day.

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1933 48th Ave SW ~ 3 beds/3.5 baths/3,460 square feet.

$1,495,950

On the opposite side of the spectrum, we have this pretty rad contemporary home in the North Admiral neighborhood of West Seattle.  As you walk in, there’s a butcher block & frosted glass stairway.  The ceilings are 10′ high with 8′ doorways, and the kitchen has a ten-ft long work island with white marble eating bar.  There are two wine coolers that fit 150 bottles each, plus there’s a stellar view of the Puget Sound from the master suite (and the master closet is the size of a normal person’s bedroom).  And check out the freestanding tub!

This one is listed by Nick Jarman and he can be reached at njarman@matrixrealestate.com.  It’s also got an Open House on Sunday afternoon (4/6) from 1-4.

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