Monthly Archives: June 2012

Case-Shiller: Seattle Home Prices Hit Six-Month High in April.

April showers brought higher home values in every major market except Detroit, according to the latest Standard&Poors/Case-Shiller Index.

The rise in values confirmed what local observers have known for months – the Seattle market has heated up. Values were up 2.0% in April, after a 1.7% jump in March.

The jump can be explained as a matter of increased demand and reduced supply. Active listings (inventory) in the Seattle metro area are down 10-15% from a year ago, and sales are up by 20% from a year ago.

Interest rates continue to set record lows, and lender money for investors is becoming more available.

The Case-Shiller Index can be accessed here.

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Just Listed: Restored & Improved 1927 Craftsman in Ballard – $725,000

The story of this fine home begins in 1852, when Ira Wilcox filed the first homestead claim in the area. In 1880, he sold 720 acres to Judge Thomas Burke who named it, “Farmdale Homestead.” After partnering with Daniel H. Gilman and John Leary, the team brought Captain William Rankin Ballard in, who platted 177 blocks of the property and called it, “Gilman Park.”

A few scattered parcels were holdouts of Ballard’s “Gilman Park,” one of them being a 2.6 acre tract owned by I.L. Mitchell, where a beautiful new “modern” six-room bungalow was built on part of the Farmdale Homestead at 5216 9th Avenue Northwest, in 1927. In 1932, the Gilman Park Community Club celebrated the opening of the Gilman Playground, right across the street from this home.

Fast forward to 2012. The “old house” has become a gleaming, two-story home with an open modern-country kitchen with spacious casual dining area that could be used as a small family room, three bedrooms and two baths up (including an ensuite master), a welcoming covered front porch and entertainment-sized back porch added, the original period detailing was either restored (like replastering the coved ceilings) or reclaimed period pieces brought in (like the wall sconces and chandelier).

The systems have been totally updated, the home now has radiant floor heat throughout, and is ready for new owners. Four bedrooms, a den/office, two full baths and a three-quarter bath – all with ceramic tile floors and tile accents – formal living and dining rooms, original oak floors, reclaimed fir floors, carpet upstairs, laundry room in the basement along with a workshop and garden potting area.

For photos, click here.
For a PDF flyer, click here.
For a PDF 4-page brochure, click here.