Bosa’s One88 Takes New Shape
Bosa Development’s new condo tower in downtown Bellevue, One88, broke ground in September. Earlier this week, Bosa released new renderings to give viewers a peek at the entire building’s exterior. The project’s architect, Hossein Amanat of Vancouver, British Columbia, says the building’s shape is “inspired by the aesthetic of quartz crystals.” The terrace features outdoor
Read More →Bosa Park Row – Bosa’s Third Condo Project in Downtown Bellevue
Bosa Park Row – Bosa’s Third Condo Project in Downtown Bellevue
The word is out: Bosa Development has submitted plans for its third condominium project in downtown Bellevue! Known as Bosa Park Row, this 21-story project will be located at 201 Bellevue Way NE and will include 144 residences, 10,400 square feet of retail, and 282 underground parking stalls. Currently, the site is home to Yogurtland and other small
Read More →Eastside Market Update – November 2017
Eastside Market Update – November 2017
Eastside Market Update – November 2017 Prices in our area have now been rising faster than anywhere in the country for twelve months. Sellers seem to be getting the message that now is a good time to put their home on the market. There was an increase in new inventory in October, but with
Read More →The Gardner Report – Q3 2017
The Gardner Report – Q3 2017
Economic Overview The Washington State economy added 79,600 new jobs over the past 12 months—an impressive growth rate of 2.4%, and well above the national growth rate of 1.2%. However, as we anticipated in last quarter’s report, we continue to see a modest slowdown in the growth rate as the state grows closer to full
Read More →Tax Plan Would Hit Eastside Homebuyers Hard
Tax Plan Would Hit Eastside Homebuyers Hard
The proposed Republican tax plan would reduce itemized mortgage-tax benefits for new owners of expensive homes. Unfortunately, that would apply to the typical house selling today in our area. The proposal, according to The Seattle Times, “would cap the federal mortgage-interest deduction at $500,000 for new-home purchases, down from the limit of $1 million.” New
Read More →New Home Sales Reach Highest Level
New Home Sales Reach Highest Level
According to the Commerce Department, new home sales rose “18.9 percent in September to a seasonally adjusted annual rate of 667,000, the most in a decade.” Sales rose in every region across the country. There was speculation that damage from the hurricanes may have also inflated the data slightly. According to the Seattle Times, the
Read More →Housing Market Crunch as Many Plan to Stay
Housing Market Crunch as Many Plan to Stay
In one of their latest reports, Zillow says they don’t anticipate an end to our housing market crunch as many in Seattle plan to stay put. In fact, contrary to the popular headlines that people aren’t planning to buy right now, many are actually in favor of buying homes, especially millennials. As we commonly share,
Read More →Eastside Market Update – October 2017
Eastside Market Update – October 2017
The typical seasonal slowdown of new listings in September added to frustration for buyers who are competing for a very limited number of homes. Strong job growth continues to fuel demand. The state added 83,000 new jobs in the month of August, and September looked to be just as robust. The result? King, Pierce,
Read More →Seattle Tops Nation in New Apartments
Seattle Tops Nation in New Apartments
According to the Seattle Times, “In 2016, there were nearly 21,000 occupied rental units in the city built since the start of the decade. That means recently constructed apartments make up 12 percent of the total rental stock.” Seattle ranks #1 out of the 50 largest U.S. cities for having the highest concentration of newly
Read More →Seattle Home Price Growth Leads Nation For 11 Straight Months
Seattle Home Price Growth Leads Nation For 11 Straight Months
For the 11th month in a row, Seattle is leading the country in home price growth. In fact, our home price growth is nearly double that of any other U.S. city according to the latest Case-Shiller home-price index. Single-family home prices increased 13.5 percent in July from the year before. The next city in the
Read More →One88 Breaks Ground in Bellevue
One88 Breaks Ground in Bellevue
Last week, a new condominium project by Bosa Development broke ground in downtown Bellevue. The new development One88, is the first new condo project in Bellevue in the last ten years. According to the Downtown Bellevue Network, “the 21-story residential tower, located at the intersection of Bellevue Way Northeast and Northeast second, features approximately 143
Read More →Hot and Cool Spots for Our Market
Hot and Cool Spots for Our Market
August followed many of the same trends we saw throughout spring and summer; a hot, hot housing market with low inventory and high prices. However, some cooler spots are becoming more apparent, and some trends are beginning their seasonal slowdown. According to the latest release from the Northwest Multiple Listing Service (NWMLS), “pending sales area-wide
Read More →Seattle a Top City for ROI
Seattle a Top City for ROI
A new study named Seattle a top city for sellers to get the greatest return on investment. For those who may be leaving the Seattle area, they’re very likely to see huge gains for their homes. According to GeekWire, a new analysis by Zillow found that sellers across the West can see these huge returns.
Read More →Amazon’s Massive Takeover Leads to Seattle Boom
Amazon’s Massive Takeover Leads to Seattle Boom
Amazon has become a powerhouse for the Seattle area. With its recent acquisitions, record employment, and now massive office space takeover, it seems there is not much this tech company cannot do. According to a new analysis by The Seattle Times, “Amazon now occupies a mind-boggling 19 percent of all prime office space in the
Read More →GIX Opening Soon in Bellevue
GIX Opening Soon in Bellevue
Global Innovation Exchange (GIX) With GIX opening next month in Bellevue, the Spring District is ready to become the next major urban hub on the Eastside. The Global Innovation Exchange (GIX) is a partnership between the University of Washington and Tsinghua University in Beijing “that will create a graduate school focused on technology and innovation.”
Read More →What to Expect for the Rest of 2017
What to Expect for the Rest of 2017
We’re more than halfway through 2017! That means it’s time to reflect on national housing market predictions from the beginning of the year and look ahead to what we can expect for the remainder of the year. As a reminder, in early 2017, experts anticipated price growth would slow, inventory would bottom, and mortgage rates would
Read More →The Effects of Low Condo Inventory in Downtown Bellevue
The Effects of Low Condo Inventory in Downtown Bellevue
This year’s inventory has been extremely low and downtown Bellevue has become even more desirable. The way of living and the lifestyle that Bellevue has to offer continues to attract more and more people each day. With large developments on the rise (Lincoln Square Expansion) and tech companies such as Amazon, Google, and Microsoft claiming
Read More →Decline of Foreign Buyers in Seattle
Decline of Foreign Buyers in Seattle
Top 3 Fastest-rising home prices (May 2016 vs. May 2017) 1. Seattle +13.3% 2. Portland +8.9% 3. Denver +7.9% *Nationally +5.6% Source: Case-Shiller home price index According to the Seattle Times, the Seattle housing market is the hottest market in the country and prices are rising faster than ever since the last housing bubble 11 years ago.
Read More →Eastside Becomes Tourism Hotspot
Eastside Becomes Tourism Hotspot
The Eastside is coming into its own, and tourists & overnight visitors are starting to take notice. According to several sources, the tech industry and the large corporate market have played a major role in driving the Eastside tourism industry. However, while the tech industry does deserve a lot of credit for drawing people to
Read More →Washington No. 1 State for Business in US
Washington No. 1 State for Business in US
In CNBC’s 2017 ranking of America’s Top States for Business, Washington state soared to the top of the list! Our state’s economy grew 3.7% last year, which is 2.5 times faster than the national rate. Additionally, we have the nation’s largest concentration of STEM workers. The technology market here is one of the strongest across
Read More →