Tuesday, July 23, 2013

Get to Know the Gatewood Community


By Ken Urman, Realtor

The Gatewood neighborhood is located in West Seattle and is bounded by Raymond Street to the
north, Thistle Street to the south, 35th Avenue to the east, and California Avenue and Fauntleroy Way to the west. 

West Seattle has some of the city’s oldest neighborhoods including Gatewood. The Southwest Seattle Historical Society has a Log House Museum at Alki Point another community within West Seattle.  The Alki point is considered the landing site where the Denny Party founded Seattle before crossing Elliott Bay to what is now downtown Seattle.  Later, much of Gatewood was developed during World War II to create government housing.

Homes in Gatewood that have been on the market are commanding higher prices than in the last several years.  Gatewood and West Seattle have become an area with a terrific vibe and is an ideal location for a "fun" lifestyle.  In and around Gatewood there are great restaurants, good shopping, and even a Trader Joes, as well as a Whole Foods currently under construction.  Many homes in this community have spectacular vista views of Puget Sound and the mountain peaks.

Gatewood abuts the area known as the Junction, which is densely populated with restaurants and small specialty destination stores. It is also close to the Fauntleroy Ferry Terminal, Lincoln Park, a number of coffee shops and cafes, hiking and nature trails, and an active schedule of events.

The most prominent landmark is the Gatewood School, currently in use as an elementary school.  The neighborhood is served by the Seattle Public Schools district. Gatewood Elementary School is the third-oldest school in West Seattle. The original building was closed for construction in 1989, reopening in 1991. The school is located at 4320 SW Myrtle Street.

Gatewood is also near some of the best bottle shops (beer stores) in the Northwest. The Super Deli Mart on 35th (https://twitter.com/SuperDeliMart) is a good example. There also are a number of brewpubs offering locally brewed beer. In fact, Seattle is home to one of the country’s largest concentrations of breweries.

According to CityData and the 2010 Census figures, Gatewood covers an area of 0.764 square miles and is home to 7,459 people. The median household income (2010) was $74,708 ($60,619 for all of Seattle). The average household size is 2.1 people, and 39.3 percent of households are families. In terms of education, 30 percent of residents have less than a high school diploma, 22.8 percent have a Bachelor’s Degree, and 12 percent have a Master’s Degree.

In 2010, the average value of a detached house in Gatewood was $547,392, slightly higher than the average value of houses in all of Seattle ($457,552). Median rent in 2010 was $972 for Gatewood and $915 for the city of Seattle as a whole.

For more information about the Gatewood neighborhood, West Seattle, or the Seattle-Bellevue communities, please contact me at 206-230-0833 or email kenurman@comcast.net.  I welcome the opportunity to discuss home buying or selling with you.

Tuesday, July 16, 2013

The top 3 reasons that now is the right time to buy a home

This article caught my eye this morning.  Simply stated and so true!  I especially endorse this statement:

Regardless of what is happening in the market today, tomorrow, or a year from now, real estate is almost always a good investment for the long term. 

Always has and always will!!!!


According to a recent article on RISMedia (article), the top 3 reasons that now is the right time to buy a home are:

1.  Rising Home Prices:  Home prices are inching upward at an accelerated rate.  Since price is likely the most significant consideration most people have when buying, this is important.  If prices continue to rise, and you buy now, your equity will begin to build as soon as you close.  And home prices ARE projected to increase. 

2.  Low Mortgage Rates:  Yes, interest rates did go up a little in the last month, but they are still super low!  And the gurus are projecting that they will go up even more over the next year.  NOW is the time to get locked in.

3.  The Re-emergence of New Construction:  Builders are building again, but not at the rate they built in the mid 2000s.  Land costs more, materials cost more, labor costs more.  New home prices are going up, too.  Buying today may be your best option because the cost of new constructions isn't likely to decrease.

homebuyers_new_home

Thursday, July 4, 2013

King County median home price up 12.5 percent from June 2012 | Business & Technology | The Seattle Times

It was just a year ago that news reports and experts were saying it may take 5 to 10 years to recover. Employment is strong and demand is high. Glad to see strong recovery. We're on firm ground!


King County median home price up 12.5 percent from June 2012 | Business & Technology | The Seattle Times