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Sam DeBord and Brian Wiegand

Seattle Real Estate Brokers

Seattle Waterfront Homes

SeattleHome.com
(206) 552-8820

 

[tags seattle homes, seattle real estate, seattle waterfront homes, seattle waterfront real estate]

Seattle - Fifth Safest City To Live - Forbes

Forbes Magazine listed the 10 safest cities in America to live, with Seattle checking in at number 5 on the list. The list was based on a number of stats, including crime, workplace accidents, weather, and traffic accidents.
It's not a surprise to see Seattle on this list. Our crimes rates are unusually low for a large city. We don't see a lot of the natural disasters that affect some other cities. Our rare earthquakes have caused little damage, there's been only minor flooding in the city, no tornadoes, hurricanes, and snowstorms are scarce.
America's Safest Cities
Minneapolis-St. Paul-Bloomington, Minn.-Wisc.
Milwaukee-Waukesha-West Allis, Wisc.
Portland-Vancouver-Beaverton, Ore.-Wash.
Boston-Cambridge-Quincy, Mass.
Seattle-Tacoma-Bellevue, Wash.
Providence-New Bedford-Fall River, R.I.
San Jose-Sunnyvale-Santa Clara, Calif.
New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa.
Cincinnati-Middletown, Ohio (tie)
Cleveland-Elyria-Mentor, Ohio/Denver-Aurora, Colo. (tie)

Sam DeBord and Brian Wiegand
Seattle Real Estate Brokers
Seattle Waterfront Homes
SeattleHome.com (206) 552-8820

Home Sales Up 9%, Inventory down 7%

Home sales in the U.S. showed their fourth gain in five months by posting a 9% gain in existing home purchases as compared to 2008. At the same time, inventory of total homes was down 7.5%, signalling more good news for home sellers. There's no sure sign of recovery in the national real estate market, but this is another month of positive figures.
Realtor Article
Sam DeBord and Brian WiegandSeattle Real Estate BrokersSeattle Waterfront HomesSeattleHome.com (206) 552-8820

Bank-Owned Seattle Homes Increase, Still Low

Seattle foreclosures have been rising steadily for the past couple of years, but a new article from CNN Money puts the total numbers in perspective. While Seattle got hit with the real estate downturn much later than most cities, our foreclosures have been increasing while other cities have been slowing.

That being said, our total foreclosure numbers are less than half the national average. Most big cities have real issues with foreclosed homes and distressed properties. Seattle bank-owned homes constitute less than one quarter of one percent of the homes for sale on the market. This is miniscule, and doesn't affect the real estate market much at all at this point. From the article:
The housing market could rebound quickly... "It's down because of economic distress," .... Once job losses end, the city's very diverse and modern companies should drive a quick recovery.

Article from CNNMoney

Sam DeBord and Brian Wiegand

Seattle Real Estate Brokers

Seattle Waterfront Homes

SeattleHome.com (206) 552-8820

Seattle Floating Homes and Houseboats Guide - Part 5 - Locations

Seattle Floating Homes and Seattle Houseboats - Part 5 - Locations
Seattle Houseboats and Floating Homes Map
Seattle Floating Homes Listings - Seattle Houseboats For Sale
The floating homes and houseboats in the Seattle area are all centered around Lake Union. The Puget Sound waterfront is usually too rough for year-round moorage, and even Lake Washington with its great size can pick up a lot of wind and boat traffic, causing some rocky waters. Lake Union, on the other hand, has caps on boat speed and a smaller surface area to pick up bad weather. It's fairly calm year-round.
Eastlake - This is the home of the most magnificent floating homes. While you can find some smaller homes for around $400k, there are also high-end communities with $2 million+, two story modern floating homes. These are well-established communities and some newly-constructed communities. Eastlake is the most well-known neighborhood and houses a large number of homes.
Portage Bay - This area also has a large number of floating homes, and is well protected in its small cove. Many floating homes reside here, from small huts to full-sized traditional homes. Located off the Montlake neighborhood, just across from the Seattle yacht club, there's plenty of boat traffic to view from the decks.
Northlake - This shoreline on the South end of the Wallingford neighborhood has quite a few houseboat/liveaboard communities. You'll find everything from small sailboats to paddlewheel boats that are used as residences. Gasworks Park is on this shore along with some marine industrial properties.
Westlake - Welcome to Sleepless In Seattle. Tom Hanks' houseboat is here, along with a small outcropping of other floating homes. This area is not as well-known for houseboats, save the movie star residence. There are a lot of commercial/entertainment businesses in Westlake, which is separated by a steep slope from the East end of Queen Anne.
Canal/Queen Anne - Some of the least expensive houseboats/floating homes can be found here. The views aren't as good as on Lake Union, but it still has great access to the lake and to the Puget Sound. Most of the homes are located on the North shore of the Queen Anne neighborhood.
Searching for houseboats on the MLS can be difficult. Real Estate agents vary in how they identify the neighborhood of the homes. One houseboat could be listed 3 different ways--Lake Union, Northlake, or Wallingford. Here are some of the most common:
Eastlake Floating Homes
Lake Union Floating Homes
Portage Bay Floating Homes
Queen Anne Floating Homes
Wallingford Floating Homes
Westlake Floating Homes
Although there have been other houseboats moved around to different parts of Seattle, the permanently established communities are all based within these neighborhoods and offshoots of the Lake Union waterfront.
Sam DeBord and Brian WiegandSeattle Real Estate BrokersSeattle Waterfront HomesSeattleHome.com (206) 552-8820

Seattle Floating Homes and Houseboats Guide - Part 4 - Financing

Seattle Floating Homes and Seattle Houseboats - Part 4 - Financing

Let's reiterate again - Houseboats and Floating Homes are different. Financing is one of the biggest differences. Floating homes can be financed with regular 30 yr mortgages, traditional interest rates, and pay regular property taxes. Insurance is a bit more expensive than a traditional home.
Financing a houseboat (vessel), on the other hand, is nothing like financing a regular home. There are quite a few differences, the most important being:
Down Payment - Forget your No-Money-Down purchases. Most lenders will require 25%-30% as a down payment. These numbers change over time and with different lenders, but you must have a sizable down payment. The least expensive Seattle houseboat right now is about $60,000. That would still probably require $15,000 down. Add to that...
Sales Tax - In most cases, houseboats are sold as personal property. These "recreational vehicles" will pay almost 10% in sales tax at closing. The buyer pays this tax. You'll also pay yearly licensing fees. This $60,000 houseboat now requires $15k down, $6k sales tax, plus closing costs. Most buyers should figure on needing about 40% of the houseboat's price available in cash to make the purchase.
Interest Rates - Rates will typically be at least 1 percentage point higher than comparable home mortgage rates, and sometimes 2-3% higher. A water-based house clearly has more potential for damage than a land-based house, and the lenders factor that risk into the rate. Only a few banks will finance these loans, so you must find a specialized lender.
Insurance - Insurance costs are higher for boats than they are for homes. A monthly policy for a house might be $80, while a monthly policy on a houseboat could be $200.
Still on board? It's better to know these issues up-front, and if you still feel like houseboat living is for you, let's move on.

Sam DeBord and Brian Wiegand
Seattle Real Estate Brokers
Seattle Waterfront Homes
SeattleHome.com (206) 552-8820

Seattle Floating Homes and Houseboats Guide - Part 3 - Utilities

Seattle Floating Homes and Seattle Houseboats - Part 3 - Utilities
Utilities on your houseboat or floating home can be rather ordinary or rather imaginative. It all depends on your home and your moorage.
Electricity - This is usually fairly standard. There are electric utility outlets available at your moorage for hookups to your home's electric supply. Some houseboats will have large batteries or generators that charge while in dock, and can be used while out at sea. Most large floating homes are hooked up semi-permanently to the electrical service and the owners need not pay much attention.
Water - Most floating homes are simply hooked up to an external hose from their moorage that brings in city water. Compact water heaters are on board for hot water supply. Houseboats that cruise will many times have a holding tank for potable drinking water that stores plenty of water onboard.
Sewer - This is where it gets interesting. Your high-end floating home communities have very sophisticated sewer systems that work with the city sewage lines. The homes run regular, gravity-flow sewer lines from sinks, toilets, and showers, out to a submerged large holding tank maintained by the community. When the tank fills, it automatically pumps the sewage up and out to the main city sewer lines. Houseboats, on the other hand, can have on-board gray water tanks (shower/sink) and black water tanks (toilet). Since they leave their moorage at times, they can't be permanently affixed to a sewer line. These tanks must be pumped out by a mobile sewage service regularly.
Garbage - Get ready to haul. While many communities have city garbage services, you're most likely going to be hauling your bags of garbage to the end of your docks to a main dumpster/pickup site. This is much like living in a condominium complex, but it is one of the unique factors of living on the water. From groceries to laundry to trash, there's a lot of hauling back and forth.

Sam DeBord and Brian Wiegand
Seattle Real Estate Brokers
Seattle Waterfront Homes
SeattleHome.com (206) 552-8820

Seattle Floating Homes and Houseboats Guide - Part 2 - Types of Homes

Seattle Floating Homes and Seattle Houseboats - Part 2 - Types of Homes

The term "houseboat" is used widely, and it is applied to many different types of residences. You'll find floating homes, house barges, and even sailboat vessels with bunks being called houseboats, and there's a different usage of the term in different locales. Here are the standards used in Seattle:
The City of Seattle's Department of Planning and Development CAM 229 - Client Assistance MemoSeattle Shoreline Master Program (SSMP) - Seattle Municipal Code 23.60
Floating Home - usually a true house, sitting on a float, connected to permanent utilities.
SSMP defines a floating home as a single-family dwelling constructed on a float that is moored, anchored, or otherwise secured in waters. Seattle's construction codes apply to floating homes and have requirements similar to those for houses built on land. Floating homes are required to be located in approved "floating home moorages" and have direct connections to sewer and water utilities, in addition to other location and design restrictions. The number of authorized moorage locations for new floating homes is very limited.
House Barge - a floating home with a hull built for towing/navigating the water if needed.
The SSMP defines a house barge as a vessel that is both:1. designed and used for navigation but lacks a means of self-propulsion and steering equipment or capability (for example, it is designed and used for navigation by towing); and 2. designed or used as a place of residence.
A house barge houses people over water, but does not need to comply with the construction and utility requirements applicable to floating homes. Only house barges that have been continuously moored and used for residential purposes within the City of Seattle since June 1990 are allowed, and they are regulated as nonconforming uses. They must be moored in recreational marinas, meet State water quality standards, and demonstrate that all overboard discharges havevbeen sealed and that a satisfactory means of conveying waste-water to an approved disposal facility has been provided.
There are approximately 34 authorized house barges in Seattle. New house barges are not permitted. Moorage restrictions on house barges and floating homes are intended to preserve moorage space for boats rather than non-water-dependent residential uses.
Vessel - a boat with living quarters.
Boats, ships, barges, or other floating craft that are both designed and used for navigation and that do not interfere with the normal public use of the water are classified as vessels. Vessels are not regulated by the City's construction codes.
Vessels must be moored at a site that has the appropriate use permits for providing moorage to that type of vessel. Uses on vessels must be consistent with the policy of the Shoreline Management Act and with the regulations of the Land Use Code and the SSMP, even if no shoreline substantial development permit is required.
Incidental residential use of a bona fide vessel is permitted under the shoreline regulations. Several unique features of vessels with residential use differentiate them from house barges and floating homes. Vessels must be designed for navigation, including having a seaworthy hull design that meets U.S. Coast Guard standards for flotation, safety equipment, and fuel, electrical, and ventilation systems. They are capable of being used for water transportation, and if they are used for residential purposes they must be able to travel under their own power to open water, including a method for steering and propulsion, deck fittings, navigational and nautical equipment, and the required marine hardware (absent these features, they will be categorized as house barges, as described above).
In addition, vessels must be used for navigation in a manner consistent with the type of vessel. Finally, vessels must be registered with federal, state, or county agencies. (NOTE: Being registered alone does not mean that something will be classified as a vessel for the purposes of the City's Codes-a vessel must be designed and used for navigation.) A structure on the water lacking any of these features does not qualify as a vessel and is subject to the SSMP and other City codes as a structure and as an obstruction.
Sam DeBord and Brian WiegandSeattle Real Estate BrokersSeattle Waterfront HomesSeattleHome.com (206) 552-8820

Seattle Floating Homes and Houseboats Guide - Part 1

Seattle Floating Homes and Seattle Houseboats - Part 1 - Floats
Understanding a floating home or houseboat starts with the most important part - the float. No matter what style floating home you have, it needs to stay on top of the water. Here is a simple breakdown of the typical floats you'll see:
Raft - This is the most basic and traditional type of float. A bunch of logs are tied/strapped together in the water, and you build your house on top of it. Seriously, that's it. There are floating homes on Seattle's Lake Union that have been floating on the same logs for 60 years. Logs do eventually sink, but it's a slow process and you can see it coming. Just strap another log underneath and keep floating.
Pontoons - Two long floats are placed lengthwise along the bottom of the house. They sit at the outer edges of the home and are connected by a smaller support structure in-between. These can be fiberglass, steel, plywood, or many other kind of materials. They can be hollow or filled with a foam product. Pontoons are great for a houseboat that needs to be towed.
Barge/Scow - Essentially, borrow the hull of a ship and convert it to the float of your home. Some barges are built new, but many are salvaged. Old wooden and metal hulls work fine, and most have a bilge pump in the hollow interior in case of leaks.
Box flotation - Large boxes are built from wood, metal, or even just styrofoam and strapped/attached to each other. This becomes a large dock to sit the house upon. It can be sealed empty boxes or foam-filled.
All of these systems have advantages and disadvantages. The deterioration of the materials is the most pressing issue for many saltwater floating home owners, but those lucky enough to live on Lake Union don't have these worries.
Sam DeBord and Brian WiegandSeattle Real Estate BrokersSeattle Waterfront HomesSeattleHome.com (206) 552-8820

Shoreline Master Program Guidelines for Seattle Floating Homes

This is an interesting article by Diana Forman with the Floating Homes Association. The Shoreline Master Program (SMP) consists of regulations for the use of waterways in the Seattle area. There is a committee that consists of land owners, businesses, developers, and recreation groups that all have a stake in the management of the floating homes, waterfront real estate, environment, and atmosphere on Lake Union and the other bodies of water in the Seattle area.
From noxious weeds to new Seattle floating homes and construction requirements, these folks have their hands full. The SMP is trying to combine conforming and non-conforming regulations for Seattle houseboats and homes on land--no easy job.

Sam DeBord and Brian Wiegand
Seattle Real Estate Brokers

Seattle Waterfront Homes
(206) 552-8820
SeattleHome.com

Lake Union's Northlake Community Wharf

Residents of Seattle's Lake Union neighborhoods, especially those living near the waterfront, should take note of the proposed community center planned for the north shore of the lake near Gasworks Park in Wallingford. In my opinion, this is a much-needed improvement for such a beautiful area with so little community development. The Lake Union waterfront on the north end has plenty of unused potential. From Jake Beattie of the CWB:
There is an effort underway to create a maritime community center on the north shore of Lake Union adjacent to Gasworks Park. The Northlake Community Wharf will serve several functions.
1. Interpretive shipyard where the community can get involved and learn about historic ships undergoing restoration.
2. A place to extend the activity of the park on to the water of Lake Union via a hand-launch site or programs through The Center for Wooden Boats.
3. Serve needs for community meeting space at the water's edge.
Northlake Community Wharf is a public/private partnership that will use non-profit led community engagement to activate public land to create a park-like experience without tax dollars for operations.
For more information on the project and how you can get involved, visit the project website at northlakewharf.wordpress.com
The Floating Homes Association has written a letter endorsing the project.
-Jake Beattie, Deputy Director for the Center For Wooden Boats
Sam DeBord and Brian WiegandSeattle Real Estate BrokersSeattle Waterfront Homes(206) 552-8820
SeattleHome.com

Jumbo Mortgage Improvements? Good News For Luxury and Waterfront Real Estate

The jumbo mortgate market has been rough for more than a year. Interest rates on larger mortgages have remained very high, as banks are reluctant to make large investments in individual borrowers. This has caused a real lag in sales of luxury homes and waterfront homes.
There may finally be some relief on the way. It seems that some banks have finally turned the corner and are starting to invest again without the fear of massive losses on the horizon. Whether or not this comes to fruition, we'll see. There are still clearly a lot of foreclosures on the horizon, but apparently some banks feel that they have planned for those losses are are ready to begin investing again. For Seattle waterfront real estate owners, this could signal a chance to get the market moving again and get a home sold in a reasonable amount of time.

Jumbo Loans May Be On A Comback

Sam DeBord and Brian WiegandSeattle Real Estate Brokers
Seattle Waterfront Homes
(206) 552-8820
SeattleHome.com

Seattle Real Estate and the National Market Stabilizing?

Many economists are predicting that the real estate market has stabilized and will be steady for the near future:
All the leading indicators say housing is definitely on the mend, economists reported in advance of the official release of several pieces of good news expected this week.Bloomberg News surveyed 53 economists and asked them where they expected the numbers to fall. Here are their predictions:
Construction starts in September are expected to hit a 610,000 annual rate, the most since last November.
Sales of existing homes likely rose to a two-year high.
Because of fear of a relapse, the Federal Reserve is predicted to leave interest rates low for a few more months.
Building permits, a sign of future growth, probably rose to a 590,000 annual pace, also the highest level since November, the Commerce Department is likely to announce.
The National Association of Home Builders/Wells Fargo index is expected to rise to 20 from 19, the economists say. Google Inc. plans to resume hiring and acquisitions after its third-quarter sales beat analysts’ estimates. CFO Patrick Pichette says: “We weathered what is an incredible recession. If you have all this behind you, the only outcome you should have as management is: ‘OK, let’s build now.’”Source: Bloomberg, Courtney Schlisserman (10/18/2009)

Seattle Quick Facts

A few interesting points about Seattle, for prospective buyers of Seattle homes, tourists, or trivia nuts:
The name Seattle came from a Native American, Chief Sealth, whose tribe inhabited the area. The pronunciation, "See-AL-tuh-huh", eventually became Seattle.
The U.S. Census Bureau lists Seattle as the most educated city in the US with more than half of residents over 25 yrs old having a bachelor's degree.
Seattle also regularly ranks as one of the most fit cities in the U.S., with large numbers of outdoor enthusiasts (even in the rain).
Most East Coast cities actually have more yearly rainfall than Seattle. The total number of gray, drizzly days in Seattle are high, which give it the reputation as a rainy city.
Seattle sells more sunglasses per-capita than any other major city in the U.S. (we lose them every winter).
The Space Needle, Seattle's most iconic building, was built for the 1962 World's Fair. It now houses a rotating restaurant which makes one full rotation per hour.
Seattle is home to some of the longest floating bridges in the world: Evergreen Point (520) Bridge at 7578 ft, and Murrow (I-90) Bridge at 6620 ft, both which cross Lake Washington.
Boeing, UPS, Microsoft, Amazon, Starbucks, Costco, are just some of the major U.S. companies founded in Seattle.
If you can stand a few gray, cloudy days, Seattle is one of the most interesting and vibrant cities in the world.
Sam DeBord and Brian WiegandSeattle Real Estate BrokersSeattle Waterfront Homes(206) 552-8820
SeattleHome.com

Waterfront Seattle Home Sales, September

Here are last month's Seattle waterfront homes sold in the greater Seattle area:
On the North end of Medina, a 4 bed, 4.25 bath home was sold for around $3.3 million. Listed at nearly $4 million, this was a big discount for the buyer. The home is on almost half an acre, which is somewhat deceiving considering Medina's long, sloping, switchback driveways.
On Lake Sammamish in East Bellevue, a 4 bedroom waterfront house sold for $1.8 million. It's a newer home, built in 1995 with 3300 sq ft, a 4 car garage, and 3.5 baths. A nice dock and covered boat moorage highlight the waterfront footage.
In Renton's Kennydale neighborhood (just south of Bellevue), a 3300 sq ft waterfront home sold for $1.8 million. This was a mid-century home, 3300 sq ft with 4 bedrooms. With 55 feet of Lake washington waterfront footgage, it's a nice piece of real estate.
Across Lake Washington in Madison Park/Seattle, a similar-sized home on a small lot sold around $1.7 million. This is a 2600 sq ft home on 5700 sq ft of land. The lot has a nice dock and big decks to enjoy the water views.
In Kenmore, just North of St. Edward State Park, another Lake Washington waterfront home was sold for $1.5 million. This was a very large home at 6 beds, 4.5 baths, and 4500 square feet of living space. The mid-century home has a lot with no-bank, deep water moorage for a 45+ ft boat.
Back on Lake Sammamish, another Bellevue home sold at just under $1 million. This was a beach house and cottage, both sold on the same parcel. The 1960s home needs some updating, but the dock and boat lift are ready to go.
Houseboats!
We had a wide range between the two houseboats sold in September on Lake Union/Portage Bay. One sold for $50k, the other for $650k.
The Portage Bay floating home was a full-sized home with cathedral ceilings, etc. With no HOA dues, it's a beautiful waterfront home. The Lake Union/Canal/Queen Anne houseboat was a little bungalow on the water. It's a "house barge", basically a floating cabin. At $50k, it's as cheap as you can find Seattle waterfront homes.

Luxury Foreclosures Sold in Seattle

Foreclosures aren't always boarded-up windows, stained carpets, and concrete-filled toilets. These bank-owned properties are high-end luxury homes that have sold in the Greater Seattle metro this year for over $1 million. Not too shabby for "distressed" properties.

Kirkland - Holmes Point$1,500,000This lakeview home has 6000 sq ft of living space, was built in 2007. It has a boat slip, a theatre, and an elevator. I wonder if any bank executives spent a weekend here "researching" the property.

Seattle - Magnolia$1,350,000This 6 bedroom, 4.5 bath house took just one week on the market to sell. The new owners got a 4700 sq ft new construction home with views of Elliott Bay, the Space Needle, and downtown Seattle. Apparently the outlook from the foreclosure crunch isn't bad for everyone involved.

Bellevue - Downtown$1,300,000This 2008-built house is true Northwest-style construction. It's 4200 sq ft, 5 bed, 3.75 bath, on an 8500 sq ft lot. With this downtown Bellevue location, that's some valuable dirt and a very short commute to some of the best jobs in the region.
Kirkland - West of Market$1,250,000This house has sweeping views of Lake Washington, Kirkland, and even downtown Seattle's skyscrapers. It was on the market for almost a year. 5 beds, 4.5 baths, and a detached 1/1 water view apartment make up 4800 square feet of living space.

Kirkland - JuanitaAdding to Kirkland's total on the luxury foreclosure infamy list is this lakeview, 2005-built beauty. It's 5 beds, 4 baths, and 4600 sq ft. The views are spectacular, and the home has community waterfront access. The styling is very modern, and the use of the view is maximized throughout the home.

Mercer Island - Madrona Crest$1,100,000Mercer Island joins the party with this "modest for this list" home, at just 3500 sq ft. It has 4 beds, 2.5 baths, and was built in 2008. With 10,000 sq ft of land, this is a big Mercer Island lot and a great location.

Yarrow Point$1,000,000This is the oldest of our million-dollar foreclosures, an early 1960s home. The majority of homes on Yarrow Point and Hunts Point are older/remodeled homes, and rately go for less than 6 figures if they have waterfront/water views. This one was snapped up after just 9 days on the market.

Foreclosures are a bad situation for some, but for buyers with the ability to make a sale happen right now, there are some real discounts to be had on luxury and waterfront homes.