Monthly Archives: November 2011

Seattle Real Estate Values Crash, Rioting In The Streets.

Well, Seattle values were down 1.09% in September, according to the latest Standard & Poors / Case-Shiller Index, although the two dozen people waiting at the bus stop outside our window seem rather indifferent to the news.

Nationwide, the numbers were down in 17 of the 20 markets surveyed, for an aggregate drop of 0.64%. Washington, D.C. continued its strong rise, posting a 1.17% gain; Portland and New York were the other two winners.

Since January, home values are essentially flat. Seattle’s values are up 0.13%, which basically means that a house worth $400,000 in January has picked up $531 in value over the year.

Across the country, values are up 0.83% this year. The nationwide number, 141.97, is the same as June 2009, and is essentially at mid-2003 levels.

Condos – Did We Say, “Out On Piers?”

In our most recent newsletter, we mentioned that there were “even a few built out on piers!”

Yes, that’s correct. West Seattle has the Harbor West, built in 1968; Madison Park has 1961’s Lakeside West, 1967’s Lakeshore West, 1968’s Lake House, and 1978’s Washington Park Tower – twenty-four stories above Lake Washington.

These buildings provide thrilling views from above the water!

Ballard’s Sunset West, built in 1968, doesn’t actually sit on piers, but is gated off from Seaview Ave NW just to the south of the Shilshole marina.