SOLD • October 31, 2024

SOLD: Upper Rainier Beach Bungalow

by Don Koonce

5733 S Gazelle Street
Seattle, WA 98118
$464,880

MLS #2281237
CLIP #2312727090
Beds: 1
Baths: 1
Size:642 sqft
Days on OneHome: 14

Carefree, low-maint. bungalow in Lk Washington’s highly favored Upper Rainier Beach, prized for its full slate of popular in-city amenities curated by a community with a BIG small-town personality. Flexible light-filled open design helps spaces live large, fully equipped kitch, updated subway tile bath, mini-splits for comfortable year-round heating/cooling, dbl-paned windows, metal roof, newer water heater. Fantastic condo alternative for those who dream of abundant private outdoor space for gardening/entertaining (future DADU?), no HOA or shared walls, quick access to shops, restaurants, parks & local favorite gathering spots. All is within a one-mile radius, from Light Rail to Launch-the-Kayak! Here’s your chance to work less, play A LOT. More.

Architecture • October 29, 2024

What is Loft Architecture?

by Don Koonce

Known for mixing spacious interiors, high ceilings, and often an industrial aesthetic, loft architecture has become synonymous with urban living. Whether you want to move into your own loft or seek design inspiration, loft architecture offers spaces that foster creativity and versatility. Let’s explore the history, significance, and defining features of loft architecture that fuel its popularity in cities around the world today.

History of Loft Architecture

Over the years, lofts have evolved from repurposed industrial spaces for budget-conscious artists into sought-after symbols of high-end urban living. Lofts, originating from abandoned warehouses and factories in big cities like New York and Boston, were first utilized by artists and innovators who turned these spacious industrial layouts into workshops and living quarters for next to nothing in price. With their utilitarian aesthetic, ample square footage, and sizeable windows that let in plenty of natural light, they were ideal spaces for the dual purpose of living and working. However, in recent years, loft architecture has shifted from utilitarian to more modern, luxury design.

Features of Loft Architecture

Loft architecture is all about maximizing space and embracing industrial features left behind by the buildings’ previous lives. So, along with tall ceilings, open floor plans, and large walls of exposed brick, lofts often also feature plenty of other industrial architectural and design elements. Elements like floor-to-ceiling windows, concrete and hardwood floors, exposed structural beams and duct or pipework, and large doors all contribute to the charm and functionality of loft architecture.

How to Maximize Loft Space

There are endless ways to design the inside of a loft apartment. But to truly make the most of your space, the key is to celebrate the unique features that define it as a loft while keeping both functionality and aesthetics in mind.

Here are a few tips to maximize your loft space:

Utilize vertical space, define areas, and invest in multifunctional furniture! By using the abundance of vertical space and installing bookshelves or cabinets, and by investing in multifunctional furniture like foldable dining tables or beds with built-in storage, you can maximize every square foot in your loft space. It also helps to organize your furniture and place area rugs in ways that define the different spaces within your loft and create a sense of separation.

Lean into the industrial aesthetic of loft living by incorporating industrial-inspired furniture such as metal stools or reclaimed wood tables. Many loft dwellers also enjoy showcasing the features that make lofts unique, like tall ceilings, concrete or hardwood floors, and exposed brick. Balance this out by complimenting your space with modern or minimalist decor pieces.

Personalization is the final touch to truly making any space feel like home. Try bringing your personality and creativity into your loft with artwork and decor that reflect your interests. Also, choose color schemes and lighting that create a positive, inspiring mood. These personal touches add character to your loft and help create a space that will bring joy every time you walk through the front door.

Real Estate News & Information • October 24, 2024

Housing & Economic Update: Numbers to know this month

by Don Koonce

This is the latest in a series of videos with Windermere Principal Economist Jeff Tucker where he delivers the key economic numbers to follow to keep you well-informed about what’s going on in the real estate market.

Hi. I’m Jeff Tucker, the principal economist at Windermere Real Estate, and these are the numbers to know right now.

2.4%

That’s the annual CPI inflation rate in September, meaning how much the Consumer Price Index climbed from one year ago. This was a step down from 2.5% in August, but it didn’t drop as much as the consensus forecast, which was expecting 2.3%.

Another data point here in red is the implied annual rate of inflation based on the monthly change: 2.2%. You can see that’s been more volatile, including some overheating back in Q1, but in general it’s been cool enough to bring annual inflation down.

Inflation has had a long, rocky path downward since it peaked at 9.1% in summer 2022. This is another step in the right direction, but still a little concerning that it’s not dropping faster.

Combined with the strong September jobs report I discussed last week, that means the Fed might be having second thoughts about how quickly they need to cut the Federal Funds Rate, especially after they started it off with a bang by cutting half a point in September.

Now there’s even some discussion of the Fed pausing on rate cuts at their next meeting in November.

In the meantime, the combination of renewed labor market strength and a slower cooldown in inflation, is enough to push up long-term yields, like mortgage rates, which brings me to the other number to know right now:

6.64%

That’s where the 30-year mortgage rate stood on Friday October 11th, according to Mortgage News Daily. It’s up about half a point from where it stood one month ago, although it’s still down about 1 full point from where it was at this time last year.

Looking ahead, for mortgage rates to resume falling, we probably need either some reassuring data showing inflation cooling down, or, would need to see more signs of labor market deterioration. Or both!

Interest rates went up so much because the economy was running hot, arguably overheating, for a couple of years, so now markets need to see more convincing evidence of a cooldown to get us out of that high-rate environment.

Real Estate Listings • October 22, 2024

NEW LISTING: Sophisticated, Stand-Alone Craftsman in Popular Highpoint

by Don Koonce

2809 SW Bataan Street
Seattle, WA 98126
Listed at $768,000

MLS #2300842
CLIP #4880015936
Beds: 3
Baths: 3
Size: 1,580 sqft

Sophisticated stand-alone craftsman in popular Highpoint. Traditional styling is beautifully appointed with understated, handsome finishes that support any personalized decorating choices. Classic covered front porch entry, expensive wood floors thru-out, cozy fireplace, creative easy-flow design open to dedicated dining rm, kitchen, stunning gardens & outdoor living space for comfortable entertaining. Towering ceilings, big picture windows push the sq.ft. to live large, all three bedrooms on the same level, Primary ensuite, mini-splits & A/C, garage off alley. A lot of perfect pairings here: Personal privacy, masterfully landscaped gardens, low maintenance living in friendly village setting a short hop from full menu of urban amenities. Just move in!

Go here for more information.

Buyers • October 17, 2024

Buying a Fixer-Upper

by Don Koonce

For some home buyers, a fixer-upper is their idea of a dream home. Preparing for the process comes down to creating a plan, knowing what to look for, and understanding what financing options are available.

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Real Estate News & Information • October 15, 2024

Local Market Update – October 2024

by Don Koonce

Local Market Update – October 2024

Our local real estate market has remained quite active so far this fall, with positive things happening for both buyers and sellers. Last month, every region in this report saw substantial year-over-year increases in the number of pending home sales. Residential inventory also rose in September, which is good news for buyers. And good for everyone was the continued decline of mortgage rates, which now hover about a point and a half below where they were last year. Meanwhile, sellers can take heart in September’s median sold prices, which held steady compared to August and were up compared to a year ago.

In King County, September’s median sold price for a single-family home was up 6% year over year, from $900,000 to $950,000, which is essentially flat with August’s median of $955,000. Sold prices seem to be holding steady even as the number of listings rises; September ended with 9% more residential listings than it began with and 28% more than a year ago. Pending sales were up 21% from the previous year, reflective of buyers taking full advantage of both growing supply and declining mortgage rates. The King County condo market saw increases in both median sold price – up 8% from $515,000 last September to $558,725 last month – and the number of active listings, which increased by 59% over the same span.

Seattle’s median sold price for a single-family home was $938,006 last month, up from $926,250 a year ago and $930,000 in August. September pending home sales grew by an impressive 28% year over year, still not enough to absorb the rising supply of residential listings, as the month ended with 18% more available single-family homes than it started with and 28% more than a year ago. Seattle condo prices were up 10% year over year, from $550,000 last September to $606,000 last month, even in the face of a 46% increase in the number of active condo listings over the same 12 months.

On the Eastside, the median sold price of a single-family home was $1,527,500 in September, up 7% year over year and down slightly from $1,550,000 in August. Pending home sales were up 16% from a year ago, while the number of active residential listings increased 7% from August and 10% from the same time last year. The Eastside condo market saw an interesting dynamic in September: median sold prices rose 11% year over year to $690,000, despite there being 93% more condos to choose from than there were a year ago.

Snohomish County saw September’s pending home sales increase 15% from a year ago but dip 11% from August. Last month’s prices followed these same trend lines, with September’s median residential sold price of $775,000 up 3% from a year ago but down slightly from August’s median of $780,000. By the end of last month, the number of active residential listings in Snohomish County was 21% higher than a year ago, but this inventory still only accounted for a relatively low 1.4 months of supply. County condo prices rose 6% year over year, from $498,500 to $530,000 last month, despite there being 53% more active listings than a year ago.

As we head into the cooler months, our real estate market remains relatively warm. Better mortgage rates and greater supply are creating a tentative balance between the ongoing seller’s market and newfound buyer confidence. To understand how these dynamics align with your interests and goals, reach out to your Windermere broker for real-time insights and expert advice.

More.

Homeownership • Living • October 10, 2024

How to Winterize Your Waterfront Property

by Don Koonce

After the long days of summer have come and gone and fall is ending, it’s time to begin preparations for winterizing your home. When temperatures begin to dip, your lakeside cabin, seaside cottage or mountain lodge will need some extra TLC to make it through the colder months until spring comes around again. Whether your waterfront property is your vacation home or a primary residence, it’s important to properly winterize it in order to avoid potential damage and to save you time and money.

Pipes and Plumbing

Burst pipes are often the cause of water damage. Prevent a water damage emergency at your waterfront property this winter by being proactive.

If your waterfront home is your summer getaway, then disconnect your hoses from outside pipes to prevent them from freezing and breaking. If you plan to turn the heat off for the winter, turn off your main water supply and open your faucets. Any water left in your hoses can cause damage, so be sure to drain the hoses connected to your dishwasher, washer, and any other appliances.

If you’ll be calling your waterfront property home for the winter, thoroughly inspect the insulation for both your interior and exterior pipes. Any areas where insulation is lacking could lead to a cracked pipe, which has the potential to cause serious damage and could end up costing a significant amount of money to repair.

Roof and Gutters

Properly winterizing your roof and gutters will help to avoid a buildup of rain, snow, or debris turning into a structural issue. For homeowners with a shingle roof, this is the time to check your roof for any signs of damage and make repairs accordingly. Cracked shingles can be carried off by high winds, torn off in a winter storm, or may fall to the ground after being struck by a fell branch, leaving your roof vulnerable to leaks.

This is especially important if you will be away from your waterfront property all winter. Since you won’t be around, you may not be aware that your roof has been damaged until it’s too late.

For metal roofs, check to make sure everything is screwed down tight. Clear your gutters of leaves and debris. The heavier your gutters become, the more prone they are to leaks, and could potentially rip away from your roof. Keep your gutters clear throughout the winter. Any blockages of leaves, twigs, or ice could lead to a leak, damaging your walls and insulation.

Other Areas

Once your plumbing, pipes, roof, and gutters are properly winterized, look to other areas of your property to prepare for the winter ahead. Check all windows and doors to identify any air leaks. If you identify a leak, be sure to patch it before you take off for the winter—or if you’re staying in the home for the season, before temperatures start to dip. Inspect your home’s insulation and weather stripping and make replacements as needed.

Bring your patio furniture inside and store them in a safe space to keep them in good condition until spring. Inspect your boat lift and dock. Consider investing in a bubbler or agitator system to keep ice away from your dock if you’re expecting freezing temperatures throughout the winter. Follow proper winterizing guidelines for your boat and any other watercraft you have before covering them or placing them in winter storage.

For more tips on home maintenance throughout the seasons and much more, visit the Living section of my blog.

Design • October 8, 2024

A Guide to Upgrading Your Bedroom

by Don Koonce

For many homeowners, their ideal bedroom is that of a minimalist sanctuary—a place where you can kick your shoes off, relax, and get some shut eye. For others, making their bedroom as cozy as possible is their idea of perfection. No matter what kind of bedroom you’re dreaming of, keep the following information in mind as you prepare to make your upgrades.

How much does it cost to remodel a bedroom?

The total cost to remodel a bedroom depends on the size of the room and the scope of the remodel. According to a recent nationwide report by Fixr, the national cost range to remodel a bedroom is between $14,000 and $40,000, with the national average cost being roughly $21,000. While this might sound like a lot, it includes everything from hardwood floors and painted walls to new furniture and a custom closet.

Another factor that will dictate your budget is whether you plan on doing the remodel DIY or hiring a professional. Taking a DIY approach to your bedroom upgrades will save on labor costs and allows you to complete the project on your own schedule. However, if you get in over your head on a project and things go sideways, it can be costly to fix, and you may end up having to hire a pro to get things back on track.

Before you begin your remodel, create a list of tasks and all the sub-tasks involved to assess whether they are within your skill level to DIY. Determine whether the project requires a permit and check your local zoning regulations before making any additions or extensions to your bedroom.

Which bedroom projects are best for home value?

Adding a bedroom or converting a space into a bedroom can increase your home’s value. That’s because you increase the livable square footage while also making it more appealing to a wider variety of buyers. If your home has fewer bedrooms than other recently sold homes in your area, a bedroom addition may allow you to list at a more competitive price. Talk with your agent to get an idea of what types of upgrades buyers in your area are paying top-dollar for.

Simple Bedroom Upgrades

With costs for a small bedroom remodel averaging up to $20,000, a full-scale renovation may not be in the cards for every homeowner. Fortunately, there are plenty of budget-friendly ways to rejuvenate your bedroom. Here are a few tips to get you started:

Upgrade your décor: Appealing to the senses will help transform your bedroom in a snap. Add texture by swapping out your bed spread, pillows, and blankets. Go for plush to make it feel like you’re sleeping on a cloud or try vintage elements like knit fabrics for a more traditional comfort. Add natural elements like wood and stone to create an earthy atmosphere. Essential oils and scented candles can bring some added relaxation into the space.
New hardware and lighting: A simple trip to the hardware store can change the look and feel of your bedroom. Switch out your door handles, drawer pulls, shelves, and lighting fixtures to upgrade your bedroom in the span of a few hours. Select pieces that reinforce the theme you’re going for. For an industrial vibe, select rustic metals and materials. For a minimalist look, choose sleek metals like gold and chrome.
Decorate with plants: Not only will decorating your bedroom will plants spruce up the space, but they also help to improve air quality. If you have vaulted ceilings, shop around for vertical plants and hanging gardens that can make the most of your empty wall space. If you consider yourself a beginner gardener, consider low maintenance plants like cacti and succulents.

Design • Homeownership • October 3, 2024

How to Fall-Proof Your Home

by Don Koonce

Each object in a home serves a purpose, but for those who experience dizziness and numbness, many of them can also be a potential hazard. Taking steps to reduce the risk of falling in your home is a worthy exercise for any homeowner, especially if you have elderly family members or young children living in your home or visiting often. Here are some ways you can fall proof the rooms in your home.

Kitchen

The kitchen is synonymous with spills and messes. When these accidents happen, be sure to clean them up quickly and thoroughly to reduce the risk of a falling injury. Slippery floors have been the culprit of countless broken bones and bruises, so it’s best to wait until the cleaned spot is dry until you resume cooking.

Stay low to the ground as much as possible by keeping your most used items like spices, cooking utensils, and hand towels within reach to reduce the number of times you need to use a step stool.

Bathroom

In the bathroom surfaces are often slippery and slick, and the hard tile makes for an unforgiving landing spot. It’s common for homeowners to place a non-slip mat in the shower or tub to reduce the risk of slipping and falling. Grab bars are a more permanent option for making the bathroom safer. For those interested in installing a grab bar but have reservations about the aesthetics of installing a grab bar, look at pieces that align with your existing décor. Match the grab bar with your shower head, shower rod, and towel racks to make it fit with the space.

Bedroom

The key to preventing falls in the bedroom is visibility. Bedrooms are cozy, intimate spaces, which means that space can often be limited. Keep all pathways clear and make sure that your nightstands and bedside lamps are well within reach. Stow any cords next to your bed to avoid tripping over them in the night.

Staircases

We’ve all taken a tumble on the stairs at some point or another. To mitigate the risk of falling, keep your stairs organized at all times. It’s easy for clutter to build up at the top or bottom of the stairs or on platforms between floors, but these objects are tripping hazards. Consider installing a handrail if you don’t have one or add a second one if you currently only have a handrail on one side.

Living • October 1, 2024

5 Pet-Friendly House Cleaning Tips

by Don Koonce

Pets make a house a home. But as much as you love your furry friends, they do add a few entries to your list of chores. Keeping your home clean requires a bit of extra work, and some methods of upkeep are more pet-friendly than others. The following tips will help you keep your house clean and your pets happy.

5 Pet-Friendly House Cleaning Tips

1. Safely Clean Up Accidents

When pet owners buy a home, they proceed knowing full well that pet accidents and messes are bound to happen. Cleaning up messes quickly is important for keeping your home clean, but it will also remove the scent, so your pets don’t come back to that same area with the same intentions. When shopping around, look for cleaning products that are safe for animals and don’t contain any toxic chemicals.

2. Deep Clean to Reduce Smells

Pets have a knack for leaving a scent behind. Every pet owner knows the feeling of going through their normal cleaning routine to extinguish the pet smell from their home, only for it to linger after they’re done. To really get your home smelling fresh again, you’ll need to target your pets’ favorite areas as well as the commonly missed cleaning spots throughout your home like underneath furniture, along the baseboards, etc. You’ll be surprised at how much dirt and fur you find in these places.

An orange cat watches her owner work on his computer as he sits on the living room couch

Image Source: Getty Images – Image Credit: Marco VDM

3. Clean Pet Toys Regularly

Your pets’ toys are magnets for dirt, fur, drool, and other unwanted substances. It’s a homeowner’s nightmare to imagine spending hours cleaning your home top to bottom, only for a muddy ball your pets have been chewing on to roll across the carpet. Cleaning toys regularly is also healthier for your pets as it helps to reduce the spread of germs. If your pets’ toys are dishwasher safe, pop them in the dishwasher every once in a while to get them squeaky clean.

4. Keep the Air Clean

Even after you’ve exhausted all your cleaning efforts on the surfaces throughout your home, pet fur and dander can still travel through the air. It’s important to clean the air in your home, especially if members of your household have allergies. Consider investing in an air purifier, which will filter air particles to remove dust and odors, giving everyone in your home—pets included—cleaner air to enjoy.

5. The Importance of Well-Groomed Pets

In the context of a clean, pet-friendly home, there’s one surface that’s more important than any—your pets themselves. Every pet owner has their routine; whether that’s regularly maintaining their cat’s litter box, wiping off the dog’s paws in the mudroom before letting them inside, regular baths and brushing, or keeping nails trimmed to avoid furniture and carpet damage, these are the boxes that must be checked to keep your home clean. For all your cleaning efforts, if your pets are still messy, then the spaces in your home will follow suit.

Read the following blog post for more information on maintaining a pet-friendly home as you look to sell:

Selling a Home with Pets

Featured Image Source: Getty Images – Image Credit: Prostock-Studio