February 28, 2008

Benaroya Moons Over Their Denny’s

The old Ballard Denny’s (previously Manning’s) on 15th and Market was voted in as a landmark last week by the Seattle Landmark Preservation Board. The story even picked up national news coverage, presumably because the building is so ugly distinctive.

The Newsweek article, titled, “Is Googie Good?” examines the merits of the 1950s and ’60s architectural craze, as well as the impact on the would-be developers of the property.

The landmark status is particularly bad news for the property’s owners. The real estate company Benaroya purchased the property in 2006 for $12 million. Now, their plans to develop a condominium complex are on hold as they begin to appeal the decision, a process that could take weeks, months or even years. “Here we are, having gone through the better part of a year without making any gains on the property,” says Jack McCollough, the company’s land use attorney. “With the time value of money and market changes, it can have quite a serious impact on us.”

Volunteer activists have taken on the project. Says Newsweek, “They have even worked with a local architecture firm to draw up plans for how a new condominium complex could incorporate this building, allowing for both development and preservation.” The Benaroya company is opposed to this solution.

What do you think? Would a restored Googie diner adjacent to your condo be retro chic or retro-cious?

January 31, 2008

Free (or Price Reduced) Ballard

Look, it’s Ballard!

Just in case you hadn’t noticed, Redfin’s great map tool just got better. Now instead of squeezing your ideal neighborhood into rectangles to search for a home, you can type the neighborhood name into the search bar, and voila! There’s your neighborhood — and only your neighborhood.

Using the search bar and My Redfin, you can be advised of new homes and price reductions in your neighborhood of choice. Check out the freakish depth of the new and improved Redfin at the Corporate Blog.

Here are some Ballard homes that aren’t free, but just went down in price this week.

Price: $309,500 $299,500
1525 NW 57th St #504
1 br/1 ba; 870 sq ft
MLS#: 27174001

Price: $494,999 $478,999
7002 28th Ave NW
3 br/1.5 ba; 1,800 sq ft
MLS#: 27165272

Price: $545,000 $535,000
2716 NW 65th St
4 br/2 ba; 2,060 sq ft
MLS#: 27165871

Price: $699,950 $674,950
7515 27th Ave NW
3 br/2.75 ba
2,140 sq ft
MLS#: 27203745

January 14, 2008

Bowling, Booze, and Ballroom: Bust

Long live the 500 block of East Pine Street! Save Oddfellows Hall! Up with booze and dancing! Down with condos! These are the cries heard from the peaks of Capitol Hill.

Residents of the Hill are not the only ones mourning favorite Seattle locations:

• The Sunset Bowl will go the way of Leilani Lanes in April.
• The University Baptist Church is for sale.
• The Rainier Brewery Stock House is history.

But there is some good news for preservationists:

• The Denny’s on 15th and Market? It could still survive the condo onslaught. History, it would seem, like love, is blind.
• City Councilmember Peter Steinbrueck has led the fight to save dozens of downtown buildings.

Want to know more about preserving neighborhood historic buildings? Historic Seattle facilitates creative preservations like the Queen Anne High School condos.

Into Googie gems like the Denny’s and the Space Needle, along with other modernist styles? Check out docomomo-wewa.org (Documentation and Conservation of the Modernist Movement - Western Washington).

Meanwhile, what would you put in the old Ballard Denny’s if it becomes a landmark? My vote: anything but Denny’s.

October 25, 2007

NW Seattle Open Houses: October 28, 2007

Weather.com is saying we’ll have decent weather next Sunday – warmer than average but still below the 1986 high. There’s lots of inventory on the market; I’ve highlighted a diverse selection of the many that will be open Sunday.

2000 NW Blue Ridge Dr.
$1,499,950; 4/2.5; 3090 sq. ft.

7438 Winona Ave. N
$674,950; 3/1.5; 2140 sq. ft.

711 NW 120th St.
$615,000; 3/2.5; 1970 sq. ft.

827 NW 65th St.
$588,000; 3/1.75; 2870 sq. ft.

8057 20th Ave. NW
$549,950; 3/1.75; 2160 sq. ft.

118 NE 52nd St.
$480,000; 3/2; 1302 sq. ft.

Note: All information from sources deemed reliable but not guaranteed.

October 24, 2007

NW Seattle Inventory: Bloated

Remember last month, when the owners of single-family homes (along with Congress and psychoanalysts) went on vacation in August? Well, they’re back in town and eager to sell. The number of new properties put on the market in Area 705 shot up in September.

This has made inventory bloated, bloated, bloated.

The usual rules of supply and demand seem to be coming into play — finally — because prices are starting to track sales figures. The number of single-family homes that have been sold has been on a four-month slump, with median prices in that category leveling off. Meanwhile, closed sales for condos have bounced around a lot, but enjoyed a big spike in September, with an accompanying jump in median price.

You’ll find Northwest Multiple Listing Service numbers here. Click on the link to King County Breakouts to see area 705 specifics. My post last month on area 705 inventory is here.

Note: All information from sources deemed reliable but not guaranteed.

October 23, 2007

NW Seattle Sales: Condos Come On Strong

The pendulum’s swung in Area 705. Condos were in the dumps early this summer, with median prices falling then staying flat. Now there’s been a huge uptick, while single-family home prices slid from summer highs back to where they were this spring.

There is price growth overall, however, when you look at year-on-year figures. In fact, I’d call Area 705 condo prices red hot, especially compared to the September-to-September gain of 7.57% for all of Seattle combined.

You’ll find Northwest Multiple Listing Service numbers here. Click on the link to King County Breakouts to see area 705 specifics. My post last month on area 705 prices is here. 

Note: All information from sources deemed reliable but not guaranteed.

October 15, 2007

NW Seattle: Drop That Hammer And Put Your Hands On Your Head!

There’s been consternation over Substitute House Bill 1843, which amends the law governing contractors in Washington state. Some think the expanded definition of “contractor” (meaning someone who must register with the state, post bond, get insurance, and all that good stuff) now includes individual homeowners who are banging around inside the four walls where they do and intend to live, or who are fixing up a place in anticipation of selling it.

Folks who are looking at fixers might want to keep an eye on the issue. If the alarm bells being sounded don’t dismay you, then check out these northwest properties in need of some hammer therapy.

9624 15th Ave. NW
Asking price: $749,995
5/2; 3890 sq. ft.

3006 NW 73rd St.
Asking price: $564,000
2/1.5; 1290 sq. ft.

12055 Phinney Ave. N
Asking price: $549,999
5/2; 2480 sq. ft.

12041 Phinney Ave. N
Asking price: $514,950
5/2.5; 3240 sq. ft.

4006 Linden Ave. N
Asking price: $499,950
3/1; 1150 sq. ft.

1514 N 40th St.
Asking price: $429,000
2/1; 1610 sq. ft.

9213 3rd Ave. NW
Asking price: $389,950
2/1; 1150 sq. ft.

10515 Linden Ave. N
Asking price: $379,950
1/1; 1230 sq. ft.

To receive daily notifications via email about new listings and price reductions in your price range and search criteria click on “save” above the map. Name your search and check “daily” under notifications.

Note: All information from sources deemed reliable but not guaranteed.

October 13, 2007

NW Seattle Open Houses: October 14, 2007

Somehow a bit of fall snuck into our winter weather. Enjoy the cool sunshine this Sunday. Weather.com says that we’re in for another spate of grey drizzle. May I suggest buying a house that doesn’t need any immediate exterior repairs?

5717 Palatine Ave. N
$1,050,000; 7/5; 2730 sq. ft.

2320 N 53rd St.
$749,950; 4/1.75; 1933 sq. ft.

12253 1st Ave. NW
$624,950; 3/2; 2080 sq. ft.

8057 20th Ave. NW
$559,950; 3/1.75; 2160 sq. ft.

3600 Whitman Ave. N #102
$412,500; 2/1.75; 1126 sq. ft.

736 N 95th St. A
$334,950; 2/2.5; 1491 sq. ft.

Note: All information from sources deemed reliable but not guaranteed.

October 5, 2007

NW Seattle Open Houses: October 7, 2007

House hunters in D.C. will be sweltering in the face of a potentially record heat wave – 89 predicted!

You, on the other hand, are likely to be layered in fleece and tromping through puddles, according to weather.com.

6728 Jones Ave. NW
$644,990; 4/2; 2500 sq. ft.

10756 Palatine Ave. N
$524,000; 4/1; 2980 sq. ft.

4603 Meridian Ave. N
$719,000; 2/2.25; 1528 sq. ft.

7720 Greenwood Ave. N #304
$415,000; 1/1; 807 sq. ft.

2613 NW 64th St.
$605,000; 3/3.5; 2124 sq. ft.

613 N 137th St.
$450,000; 2/1; 1720 sq. ft.

Note: All information from sources deemed reliable but not guaranteed.

October 4, 2007

NW Seattle Sales: All Over The Map

It sure is a mixed bag for these August closings. This time I listed them in descending order of percent of asking price. As you can see, a hot property can still be bid up and sell quickly. But the one with the worst percentage also sold fairly fast, too.

Furthermore, as I sifted through Redfin, I saw a lot of “active” places that were put on the market around the  same time as these guys. So they’re now 100 to 120 days old. And a whole raft of sold property is still in records limbo, indicating that they closed escrow in September, in the 80- to 100-day range.

So I’m seeing a market that’s becoming more balanced. Stellar property attracts many interested buyers; average places take a bit longer but can still do well; and the less desirable homes (Cough! Townhouse, cough!) will linger.

321 N 77th St. sold for 108.8% in about 35 days.
Original List Price: $400,000. Sales Price: $435,000
2/1; 960 sq. ft.

5901 Phinney Ave. N #206 sold for 100.0% in about 50 days.
Original List Price: $339,900. Sales Price: $339,900
2/2; 833 sq. ft.

1545 NW 57th St. #613 sold for 95.6% in about 64 days.
Original List Price: $285,000. Sales Price: $272,500
1/1; 600 sq. ft.

724 N 76th St. sold for 88.9% in about 43 days.
Original List Price: $588,000. Sales Price: $523,000
2/1; 1460 sq. ft.

Note: All information from sources deemed reliable but not guaranteed.