Recent studies by Corelogic and Capital Economics point out some surprising trends in housing. While the old adage of renters “throwing money away” has been tossed around quite a bit lately, the statistics in today’s housing market are starting to support just that statement.

Most strikingly, Capital Economics measured median monthly mortgage payments versus median monthly rental payments across the country. For the first time in 30 years, the median mortgage payment was actually the same or slightly less than the rent payment.

Additionally, Corelogic’s U.S. Housing and Mortgage Trends has shown that renters are now spending a larger percentage of their household budget on housing payments than homeowners. Homeowners’ payments have increased just over 1 percent since 2005, bringing them to 33% of their budget. Renters’ expenses, in the same time, have increased about 3 percent, bringing them to 38 percent of the total budget. While median income disparities certainly make up for some of this stat, there’s clearly a trend toward rentals becoming more expensive in relative terms.

Over the past 26 years, the expenses for renters as a percentage of budget have actually increased significantly more, with homeowners’ expenses increasing 12 percent and renters’ expenses increasing 22 percent.

Clyde Hill is the largest community in West Bellevue, on a prominent but gradual hill overlooking Lake Washington and the Seattle skyline to the west and downtown Bellevue and the Cascade mountain range to the east. People like living on Clyde Hill because is is minutes on surface streets to downtown Bellevue, or to the on-ramp to Seattle via the SR 520 on-ramp to Seattle. Many of the home here have been upgraded to include modern finishes and the character of the neighborhood is very upscale.

Clyde Hill is one of the most prestigious addresses in West Bellevue, as reflected by the median home price which is holding steady the last two years at $1,210,000. Recent home sales range from the low 400,000's for a distressed property to $2,400,000 for a stately view residence on a quiet street. The recent boom construction years saw a lot of new construction where the typical 1960 era homes were yielding to demonlition at staggering lot values. Many of those homes were purchased at or below the builder's cost as the effects of the recession took hold. That inventory has all been absorbed, and the general health of the market is quite good.

The current market of Clyde Hill homes for sale consists now of only resale homes, there is virtually no spec building. Average time on market is running about 60 days, and inventory is about 4 months overall. Depending on the price point, certain price ranges are oversupplied--take for example homes ranging from $1.4 to $2.5 million. When one is buying a home, it is important to dissect the market statistically to identify price points that are oversupplied, to position the offer accordingly.

The views from some of the homes in Clyde Hill can encompass a panorama of the snow capped Olympic Mountains as a backdrop the Seattle skyline, featuring Lake Washington views, all the way south to Mount Rainier, and from certain locations one even has views of the ever changing Bellevue skyline, which has become far more interesting these last few years. The lot sizes are large, averaging over 17,000 square feet, with an average dwelling unit density of 2.5 units per acre.

The City of Clyde Hill was first incorporated as a town in 1953, but became a non charter city in 1998 with a Mayor and City Council. They have their own Police and Fire Departments, and City Hall situated on the major east west spine of Clyde Hill, NE 24th Street. The City limits can be measured in terms of size at one square mile or 632 acres. There are approximately 1075 households, with an average occupancy of 2.7 persons, with 40% of the population being between the ages of 35-59. The average household income is just over $190,000 according to census statistics.

One of the crown jewels of the Bellevue Park's Department is Clyde Beach Park, at the foot of 92nd Avenue NE, where it meets Meydenbauer Bay. This is Clyde Hill's pride and joy, where residents turn out during the best months of the year to enjoy the waterfront, with safe sandy beaches for the little ones, good open swimming areas, and a lifeguard is on duty during the peak months of summer. All in all, the lifestyle of living in Clyde Hill is hard to beat, and the home values are affordable for many of the income earners this area attracts.

Short Sale Vs Foreclosure – What are your options?

In today’s economy, many homeowners are struggling to make their mortgage payments each month. Many are on the brink of foreclosure and are considering walking away from their homes, especially if they now owe more than the property is worth. Another option for struggling homeowners is the short sale, a method of selling the home for less than what is owed on it. Banks may agree to this if they decide taking a loss on the home sale is a better option than trying to press current homeowners, who may end up in foreclosure anyway. If a homeowner meets certain requirements, they may be eligible for a short sale.

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Clyde Hill Homes for under a Million

Clyde Hill Homes for under a Million.

Would you love to live in Clyde Hill but just can’t afford that price tag in the Millions? There’s no mistake that many are trying to call Clyde Hill their home not only for the Schools but for the wonderful parks, neighborhood and close proximity to the freeways, Downtown Bellevue and the views. If you are one of those who would love to find a home you could start out with in the Clyde Hill Neighborhood we can help. Most of the homes will either be small bungalow types or those that need to be updated. If you don’t mind a home that has under 1200 square feet then you should be able to find a home no problem.

See more about Clyde Hill homes for sale in Bellevue WA http://thepaysongroup.com/bellevue-life/clyde-hill-homes-for-under-a-million/

I love to promote some of my favorite businesses in the greater Seattle area, and I'd be remiss if I didn't mention my dentist.

Bellevue WA Dentist:
Dr. Judson A. Werner, DDS PS
Family Dentistry
2150 112th Ave NE, Suite B
Bellevue, WA 98004
425-454-2892

I've had the unfortunate experience of having a half dozen dentists in my life (I moved a lot in my twenties). Some were good...some not exactly. My experience at Dr. Werner's family dentistry office has been a remarkably good experience.

The office staff is always friendly and supportive. It's a comfortable, family environment in a very modern, professional office. The dental assistants and staff always have a question about my children, work, or just some friendly chat to make me feel at home in the office.

Dr. Werner recieved his dental degree from the University of Washington, and afterward he worked as an associate dentist in downtown Seattle, and volunteered his time as a part-time professor at the University of Washington School of Dentistry. His office strives to make the most up-to-date and high-quality dental care and equipment available to its patients. The business is run efficiently, with telephone reminder calls for patient appointments (I need them).

Dr. Werner is a member of the Seattle King County Dental Society, the Washington State Dental Association, the American Dental Association, the Washington Academy of General Dentistry, and the Washington Oral Health Foundation.

If you're looking for a relaxed, comfortable environment within professional surroundings, give Dr. Werner's office a call.

Bellevue Dental Office Contact Info

Phone: 425-454-2892

Email: info@wernerdds.com

Location:
North Hidden Valley Dental Center
2150 112th Ave NE, Suite B
Bellevue, WA 98004

To contact Dr. Werner directly:
judson@wernerdds.com