In a recent Seattle Post-Intelligencer article, Reporter Aubrey Cohen quotes NAR Economist as saying that
Seattle is undervalued...in comparison to other West Coast Cities.
A friend of mine pointed out that with the King County Median house price being $435,000 how can that be affordable. I started to look a little deeper; I wanted to know if the Median Income would allow for these homes to be considered affordable. Here is what I found out.
The median income for a household in the county was $53,157, and the median income for a family was $66,035. Males had a median income of $45,802 versus $34,321 for females. You can find out more at: Answers.com
Some of you may crunch the numbers and say see at 53K you cannot spend over half your monthly income on a mortgage payment, and I would strongly agree. But simple numbers don't answer some key questions. For example, what is the percentage of households that rent vs. buy? What percent of the homes bought were upgraded homes. (Using the equity the household made over the last 3-5 years to upgrade.) But the question is not just whether the average household can afford a home; it is a question of how
Seattle stacks up to other West Coast cities as far as afford ability and appeal. So let's look at some comparisons.
Again on Answers.com it puts together a list of 100 of the highest income counties. These are rated at a per capita income.
King
County is ranked 51st at $29, 521. Let's see how
King
County stacks up.
Let's take one county with a lower income per capita. For instance
Alameda
County in the Oakland Area of California is a somewhat desirable place to live.
Alameda
County is 97th with a per capita income of $26,680. The median home price there is $540,500. Now take
San Diego
County is 253rd with a per capita income of $22,926. The media home price there is $435,000. Hmmmm same as
Seattle, but with a lower affordability factor if you take the per capita income into consideration.
In conclusion, yes
Seattle housing prices are up there, but how they compare as far as West Coast cities, I would suggest that they are very appealing. I think the strong diverse economy and the low unemployment rate lead to a great place to live. Not to mention sports & entertainment as well as outdoor activities that the surrounding area has to offer.
Here are the Febuary 2008 numbers for the Pine Lake Area of Sammamish, WA. It looks as though there we only 4 sales out of 43 homes currently listed. That's a 10 months worth of inventory. That should however diminish in the coming seasonal months.
With the ease of access on and off the Plateau, this area will continue to be a disirable place to live. Sales should pick up as we head into the spring months. If you are a buyer for this area take a look at the Crossings at Pine Lake there are some great homes by John F. Buchcan & Lozier
What a great neighborhood, you will love it. Located on the southwest corner of Sammamish, you will have easy access on and off the "Plateau." From this neighborhood you can find homes that range from the mid 400's up to 1.5mil+ You can head north to Redmond off Thompson hill Road or south to I-90. This is SW Sammamish residents best kept secret...now the cat's out of the bag.
Pine Lake and Pine Lake Park are at the center of this Family Friendly neighborhood. You can swim in the summer and fish in the spring. Winter....ice skating....maybe..???(I have never seen it freeze over)
Ok I am a bit biased. I live in this neighborhood. (My photo is taken on the shores of Pine Lake)
We currently have one home listed in on of the older neighborhoods if you like large lots and ton's of privacy a great 4 bedroom, 2.5 bathroom at only $539,950
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I am a real estate professional born and raised in the Pacific Northwest. I serve clients in the Issaquah, Sammamish, Bellevue, Redmond, and beyond. My commitment is to my clients needs!
As a comprehensive Real Estate Professional, I am committed to quality and excellence in all I do. I work my business 100% through referrals and my years of experience as a small business owner translate into my very focused attention to my client's needs for active listening, pinpoint expertise and timely scheduling.
As a Realtor® with Northstone Real Estate, Inc. I have been honored to receive The President's Award for Service in 2006, 2007,2008 & 2009 as the top performing agent in our office.
At Northstone Real Estate, Inc. we listen to our clients, not simply fitting them into a marketplace array of choices but rather moving along side them and focusing on their expressed dreams and visions.
I love providing this in-depth service and detailed planning for all of my clients and I enjoy working with both buyers and sellers, whether they are first timers, move up buyers or investor clients. I make thoughtful, concerted efforts to continually improve the level of service I provide to my clients like you because in my business the most profound acknowledgement I gain is your respect and your trust.
I absolutely love working with referrals because the opportunities I've been provided by working through great referrals have become my most enjoyable and rewarding experiences in this business.
You can be sure, as you choose to come and work along side me here at Northstone, that I'm committed to providing you with such a superbly high level of service that you will be proud to tell your friends and associates about me and about my business.
My wife Lisa and I have been married for 9 terrific years and we are proud parents of our 6 yr. old daughter Kailyn and our 4 yr. old son Hayden. Being born and raised in the Northwest, I love being active in the outdoors, whether hiking, rock climbing, skiing, kayaking and boating. Very often our entire family can be found together enjoying the beauty and variety of the great Northwest outdoors! Additionally, I am involved with Toastmasters where I am President and I enjoy volunteering with the middle school youth at my church.
Committed to excellence, I look forward to the opportunity to serve you.
my skills and ways of doing business. In addition, I've found that the latest technologies are enabling me to do everything I've always done, only much more quickly and efficiently. They've also helped me to extend the range of services I provide to my clients.
So when you decide that you'd like to buy or sell a home in the Puget Sound Area, please contact me.
Buyer Agent
Sellers Agent
GREEN Designee -
As an NAR Green Designee, I now have the knowledge and the tools necessary to become a trusted green resource for the greater Eastside. On a personal note, I am very excited to be at the forefront of this movement. Not only do I believe this is a stewardship role for our planet, but this will save consumers money in the way of future energy costs. I look forward to presenting alternatives for consumers when it comes to products and services that they use and consume. I don't believe in being a zealot and go to a zero energy model. I do however think that we are at or near a tipping point to some realistic and affordable Eco-friendly practices!
"Dan went above and beyond while helping my family shop, select, finalize a home from a long distance away. When we finally narrowed our choices down, he spent Mothers Day weekend with us when we flew out for a marathon tour of over 25 homes. Dan helped us with the closing process from a distance as well, proxying for us where necessary. And finally, went the extra step of opening the house for us and directing the movers to where things go as we where still enroute. A professional all the way."
-Keith S.
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"Top Qualities: Great Results, Personable, High Integrity."
-Nick T.
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"Dan is a personable, detail orientated, on task, and most importantly, a trustworthy person who runs his Real Estate business with utmost integrity. He is always willing to lend himself out to go the exta mile and makes it his number one priority to establish a great relationship with each individual he works with. With out a doubt, he is trustworthy realtor that gives 100+% effort to make sure each individual he works with has a pleasant and effective selling/buying experience."
-Grant M.
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