An Important Consideration for All Homeowners: Tankless Water Heaters

By Ken Urman, Realtor

What is a Tankless Water Heater?

A traditional water heater consists of a large tank in which 80 gallons of water (or more) is heated and maintained at a set temperature, typically using gas or electricity. This water tank supplies your family’s needs for hot water for bathing, washing dishes, doing laundry, etc. Once the heated water has been drawn from the tank, you must wait until it refills and the entire tank of water is heated

(usually 20 to 60 minutes).

A tankless water heater (also called an instant or on-demand water heater) provides hot water only if and when hot water is needed in your home. When you turn on a faucet, shower or appliance, water is heated instantly as tap water passes through “capillary-like” pipes heated by either electric coils or a powerful gas burner. Water does not sit in a large tank where it is continuously heated to a set temperature and maintained until needed.

Tankless water heaters can be installed either as whole-house systems (often consisting of three or more units each serving a part of the house). Smaller tankless units can also be installed at the point of use (for example, the kitchen sink, a shower or bathroom, etc.).

 

Advantages of a Tankless Water Heater

Tankless water heaters offer several advantages:

1.       They provide an unlimited supply of hot water only when and where it is needed.

2.       They heat only the amount of water needed at a particular time.

3.       There is no need to continually reheat the water in a tank in order to maintain it at a set temperature.

4.       Because water is heated at the point where it is used, the water is hotter (it does not cool as it passes through a long network or pipes from the water heater to the faucet).

5.       Therefore, it is more energy-efficient and more efficient in consumption of water.

6.       Tankless water heaters are about 50 percent more efficient.

7.       Tankless water heaters save the average homeowner approximately $165 per year.

Disadvantages of a Tankless Water Heater

      1.       It cannot produce a large amount of hot water at once.

2.       Turning the hot water on and off repeatedly can result in a sudden blast of cold water.

3.       The amount of water a tankless unit produces depends on the temperature desired.

A traditional water heater provides 7.5 to 9.5 gallons of water per minute, which is typically enough hot water to supply three needs at one time. A tankless unit produces only 2.5 to 5 gallons, which will supply only two needs at one time. Further heating water to an increased temperature of 35 to 45 degrees will allow water to flow faster than heating the water by 77 degrees.

Cost of Tankless Water Heaters

The typical gas-fired tankless water heater will cost about $1,500 installed (about twice the cost of a traditional water heater or about $575 more than a high-efficiency tank model. However, installation will require replacing ½ inch pipe with ¾ inch pipe throughout your home at a cost of $25 to $40 per foot. This installation cost will be recovered in reduced operating cost. Electric tankless units cost far less, typically as little as $400 installed.

 

Typical Cost Savings with Tankless Water Heaters

 

·         According to the U.S. Dept. of Energy, a tankless water heater is more efficient and uses less energy than a conventional water heater, providing a $25 to $107 in annual savings.

·         If your hot water use is low (less than 41 gallons per day), a tankless water heater will be 24% to 34% more efficient.

·         If your hot water usage is high (about 86 gallons per day), a tankless water heater is 8% to 14% more energy efficient.

·         Installing an on-demand unit at each hot water faucet gives an energy savings of 27% to 50%.

Get to Know the Genesee Neighborhood in West Seattle

By Ken Urman, Realtor 

The Genesee neighborhood of West Seattle (not to be confused with Genesee Park in Rainier Valley) covers an area of 0.758 square miles and extends from SW Genesee Street to SW Charlestown Street, and west from 46^th to 56^th Avenues, SW.

West Seattle is the section of the city located west of the Duwamish River and extending to Puget Sound. The Junction area of West Seattle is a popular destination for area residents and visitors seeking dining and shopping venues. West Seattle is historically important, as well. The Alki area was the landing site of the first white settlers in the region. West Seattle also includes several very popular parks and residential neighborhoods.

Genesee is a small and quiet residential area near shopping and entertainment at the Junction. The average household size is 2.0 people. Family households account for 37.8 percent of households, and 35.4% of households are married couples with children. The 2011 median household income was $71,201 (compared to $61,037 for all of Seattle). Travel time to work is less than 30 minutes for the vast majority of residents. 

 

According to 2010 Census figures, the estimated average value of detached houses was $440,438; for townhouses and other attached homes, $307,363. Homes in the Genesee neighborhood have been built at a relatively stable pace since the time of its early development. About a third of the homes were built before 1950, another third were built between 1950 and 1989, and the remainder since 1990.

 

Ercolini Park is a popular destination within the Genesee neighborhood. Located at 48^th Avenue SW and SW Alaska Street, west of the Junction, it was completed in 2008. This play area for children features a large grassy area, as well as a wood chip covered play area with sandbox, swings for all ages, multiple slides, ladders, monkey bars, and other toys.

 Also located within the Genesee neighborhood is the Genesee Hill School. Construction is set to begin in the spring of 2014 on a new school, which is expected to open in the middle of the 2015-2016 academic year.

The neighborhood is adjacent to the Schmitz neighborhood. The two communities are represented by the Genesee-Schmitz Neighborhood Council (an Official Seattle Neighborhood Council), which describes itself as “a group of neighbors working together to actively improve the area they live in. It also represents the local community’s interest on district and Seattle issues.”

 

Currently there are 6 homes for sale in the Genesee Neighborhood ranging from $319,777 to $1,140,000.  In the last 180 days 21 properties have sold.  There is a new home being built at the top Genesee Hill overlooking Alki, Puget Sound, and to the Olympic Mountains   It’s in pre-sale status, please contact me for more information.

If you are interested in buying or selling a home in Genesee or any Seattle-Bellevue-Lake Washington neighborhood, please call me at 206-230-0833. I would be happy to sit down with you and discuss your options and help you meet your financial needs. Visit my website at www.kenurman.com.

Investors and Entrepreneurs

I just read this about investors and entrepreneurs.   It's very powerful and spoke to me.  Had to share it!  I'd love to hear your thoughts....please comment.

Greg Rand from the book Crash Boom!: 

“Entrepreneurs can thrive in any environment because they are defined by their belief that there are opportunities all around them. They trust that they have the ability to learn new things in order to adapt and succeed in a changing environment.”

Investors are no different. Investors can thrive in any environment if they are smart and understand what makes a good deal. Many experts believe that we currently face one of the greatest investment environments of our generation.

In my opinion, these concepts can definitely be applied to the current Real Estate market. 

Get to Know the Madrona Crest Community

By Ken Urman, Realtor-Broker

 

Madrona Crest is a mid-Mercer Island community that includes Clise Park (SE 40^th and Island Crest Way). Like most Mercer Island neighborhoods, Madrona Crest is a quiet community of single-family residences. In size, homes in this community range from 910 to 8440 square feet with two to seven bedrooms.

Several homes in Madrona Crest sold in recent months are:

·         3629 88^th Ave., SE – Built 1948, 2 BR, 1.75 BA, 1,020 sq. ft, on .263 ac. Listing price: $499,999; Selling price: $521,000.

 

 

 

·         8447 SE 36^th St. – Built 1967, 2 BR, 1.75 BA, 2,070 sq. ft, on .284 ac. Listing price: $679,950; Selling price: $688,000.

 

 

 

·         8425 SE 39^th St. – Built 2013, 5 BR, 3.75 BA, 3,952 sq. ft. This house is built on a plan called “The Florence,” and includes den, formal dining from and large daylight basement, gourmet

               kitchen, granite slabs in kitchen and   
               bathrooms. Builder: Jay Marc. Listing   
               price: $1,475,000; Selling price:
               $1,500,000.

·         8835 SE 39^th St. – Built 2013 by Jay Marc, 5 BR, 3.75 BA, 3,952 sq. ft. This house is also built on “The Florence” plan and includes similar amenities. Listing price: $1,575,000; Selling price:  $1,575,000. 

 

Clise park/green space offers a quiet and elegant respite from the hustle and bustle of the nearby downtown area. It features 1.75 acres of trails winding through natural growth of local trees, shrubs and plants. The name of the community suggests an abundance of the Madrona Tree in this area. However, there are very few remaining today. The park was named for Charles Clise, the builder and original owner of local landmark, the Shorewood apartments, built during the growth spurt shortly after World War II.

There is a great deal of transition occurring in Madrona Crest at this time. A number of older homes are being remodeled or torn down and replaced with new construction of luxury homes. JayMarc

Home builders are particularly active in this transition. 

There are currently no homes for sale in this neighborhood. However, if you are interested in this community, and you would like to be notified when a home in Madrona Crest becomes available, I will be happy to contact you. If you wish to sell your Madrona Crest home, it would be my pleasure to help you with the transaction and help you ensure you get top value.  Please call 206-230-0833. Remember, I’ll bring the coffee!

Get to Know the Library Neighborhood of Mercer Island

By Ken Urman, Realtor 

Situated between Island Crest Way on the West, 92^nd Ave SE on the East, SE 47^th on the South, and SE 42^nd on the North is a quiet neighborhood known as the Library Community. This well-located neighborhood is very typical of Mercer Island in most ways – it is convenient, quiet, good topography and has many positive community features, the most popular is, of course, the terrific Mercer Island Library and Rotary Park.
The Library community is just a short walk away from the high school, the Boys and Girls Club, several parks (including Ellis Pond), and several popular churches. Trails and level topography help connect the community and its features.  It is also served by a bus route.

The current Library structure was built in the early 1990s. It has become the site for many city and community meetings, art exhibitions, and musical performances. Beginning in early 2014 renovations will ensure that the library facility can accommodate an ever-growing collection of publications ranging from print and digital books and journals, print and digital magazines, public use computers and research tools and technologies, as well as special collections of interest to the community. Current plans call for improvement of interior acoustics and window replacement. Renovations will also refresh the interior of the existing building (no changes to the footprint of the building) as part of this 1.6 million dollar renovation. 

 
The second major attraction in the Library neighborhood is Rotary Park, which was created in 1970 as a project of the Mercer Island Rotary Club.  The park is located across from the Library and close to St. Monica's Church.  Over the years, it has evolved into a neighborhood park. Every spring, volunteers from the Rotary Club and the high school Interact Club clean up the park and make minor improvements. Activities in 2013 included: (1) planting nearly 50 trees, ground covers, etc., (2) barking all tree stands, (3) laying a gravel cover along the path, and (4) installing a new bench.

Two homes in the Library neighborhood have sold in the last 180 days. One, at 4248 86th Ave SE, sold for $788,000. This single level home with west exposure for sunset viewing was originally a five bedroom home. It is now a two bedroom with master suite and bonus areas. It features hardwood floors, stainless steel appliances, French doors, circular drive, fenced back yard and large patio (http://www.matrix.nwmls.com/Matrix/Public/Portal.aspx?ID=9860422010).

There are currently no homes in the Library community for sale. However, due to demand there is at least one under construction in the neighborhood.
To be notified when a home becomes available or to list your home, please call me at (206) 230-0833.

Real Estate and Dating

I recently ran across this. It is a very fun and appropriate analogy.  I would go a bit further……how about  “buyer’s remorse” or not making it to the wedding.  Once you’re engaged (under contract) there are so many ways the relationship can crash and burn.  We always strive for happiness and “wedding bells”

Real Estate Dating

ptupper

Reply

June 26, 2013

Look at this cute little comic I found on Bizaro.com.

He, he.   Told you it was cute.

When you think about it, buying a house IS like dating.  Now, don't get me wrong, I'm a happily married woman however, when you REALLY think about it, there are many ways that shopping for or buying real estate can be like dating.  Let's take a look at the top 5.

1. First Dates.  How many first dates did you go on until you found "the one"?  You look at many houses (some online), imagining the prospect of your lives together...

2. The List.  Number of beds and baths, garage, yard, updated.  Sound familiar?  Must be tall, thin, handsome, great teeth...you get the idea.

3.  Curb Appeal.  Never judge a book by its cover, or a house by an overgrown yard.  How about the great date whose shoes don't match his belt (do people still do that??).

4. Location, Location, Location. Always a must for your ideal home.  After all, you don't want to be stuck in traffic for two hours a day, now do you?  How about that friend-of-a-friend your gal pal wants to introduce you to because "you two would just be perfect" even though he lives 1,000 miles away.

5.  Financing.  I think this is a conversation that most normal people dread before taking that big leap and deciding to move-in together.  "I only owe $100 grand in student loans".  Yikes!

So there you have it, buying a home IS just like dating.  What other ways can you think of where buying a home is like dating?

- See more at: http://www.paulettetupper.com/real-estate-dating/#sthash.fLtJ4GMo.dpuf

Get to Know The Lakes Community in Mercer Island

By Ken Urman, Realtor

The Lakes neighborhood is an all-Buchan-style planned community that has become a Mercer Island landmark on the Southend. Built in the 1980s by John F. Buchan Construction, Inc.

(http://www.buchan.com/), this 40 acre development draws its name from the man-made lakes that dot the landscape throughout the neighborhood. The development was designed to hold storm water in artificial ponds (“Lakes”) and release it slowly downhill to Lake Washington without overwhelming the city’s minimal storm drain lines and ditches. As such, it is an outstanding example of storm water management.

The community is adjacent to the South Mercer Playfields, Lakeridge Elementary School and Islander Middle School. It is also in close proximity to the Mercer Island Beach Club, Country Club and Southend shopping area.

Community statistics:

·         Population (2011):  414

·         2011 median household income:  $186,053

·         Average household size: 2.9 people

·         Vast majority of homes were built between 1960 and 1989.

Halloween trick-or-treating is a hugely popular annual activity in The Lakes, that draws children from all over the island. Treats handed out by residents of The Lakes are reputed to be the Best! A comment often heard is “best Halloween trick or treating ever!” For Halloween, the community encourages families to bring a canned, non-perishable food item to donate to the Mercer Island Food Pantry food bank. Food bins are located throughout the neighborhood on Halloween.

The homeowner’s association in The Lakes is very active. The neighborhood is relatively small and sponsors a number of social activities, allowing neighbors to get to know one another. The homes in this community tend to be very uniform in style, and are either a rambler or a two-story traditional.

Homes in The Lakes are very desirable and sell very quickly when they come on the market. Currently there are no homes for sale or pending sale in the neighborhood. Only two homes have been sold in the last 180 days. The most recent sale occurred June 7, 2013, when a four bedroom, 2.5 bathroom two story lakeside home sold for $1,350,000.

To learn more about The Lakes, or other local neighborhoods, or to list or buy a home, call me today at 206-230-0833.

Get to Know the Junction Neighborhood in West Seattle

By Ken Urman, Realtor

The Junction is the best-known intersection in West Seattle. The designation dates from the time when two streetcar routes first crossed at the intersection of California Avenue Southwest and
Southwest Alaska Street. After a century-long evolution, it is a unique area that brings together residential and retail space in a way that has consistently retained a small-town feeling. From popular live entertainment to unique and fashionable shopping to the year-round farmer’s market, the Junction offers everything locals want in a gathering place with a unique vibe and a fascinating history.

In 1907, the intersection of the two streetcar lines near a wooded bog led to draining the area and

clearing land that quickly became a residential neighborhood. In fact, the pace of development of this area is considered legendary by some. Within just three years, the Junction was the central business district of West Seattle.

A residential neighborhood quickly grew around the Junction, taking its character from the business district and from the various development stages in its history. Like the Junction itself, the neighborhood is an eclectic mix of single-family homes, apartments, and a group of luxury high-rise apartments and condominiums. Although most of the residents of the homes are homeowners, there are some rental properties, such as the one I manage.

In terms of architectural styles, the neighborhood reflects the community’s history. From the first

homes built in the early years of the 20th Century’s Craftsman style, to a new burst of building in the 1940s accommodated the influx of people working in the area’s shipyards and airplane factories, the community grew until the “Boeing Bust” in the early 1970s. The bust resulted in job loss for three of every four Boeing employees. When J.C. Penney closed its doors in the Junction three years later, the business district was in trouble. Just two years later, the Jefferson Elementary School was closed due to low enrollments.

The community struggled until the new West Seattle Bridge opened in 1984, making it easier for people to visit West Seattle. Traffic entering West Seattle was, unfortunately, matched by traffic leaving the community to shop at the malls in other areas. Despite disagreements with the City of
Seattle over making the Junction an “urban village” and with the various interests in the community
regarding parking, traffic flow, building height, and density, it was clear at the turn of the millennium that a renaissance was in progress.

Part of the progress made in the 1980s and 1990s included construction of Alaska House in 1979 and the commissioning of the 11 historic murals on buildings throughout the neighborhood. Efforts by the Seattle City Council to designate the Junction an “urban village” even prompted an effort to secede from the city; but it was vetoed by the Governor. Soon a number of new stores opened at the Junction and brought some revitalization.

After the Huling Brothers automobile dealership closed in 2007, some of the property was developed, notably a Trader Joe’s, which has been very welcome by the community. The rest has encountered issues, and ground has not been broken. Those plans include multi-use buildings, one of which may include a Whole Foods store and luxury apartments.

The Junction neighborhood is home to about 6,000 residents, with a median age of 39 years. The median home value in July 2013 is $421,600, an increase of 13.2% over July of 2012. Median rent is $1,862. Median household income is $54,171.

The Junction is a thriving community that brings people together to shop, dine, relax and be
entertained.  The neighborhood draws those who want to live near their businesses or want to live near a thriving social and business hub. This unique community is a great place to connect with people of all kinds, to engage Seattle’s history, and to do business with one’s neighbors.

 

If you are interested in buying or selling a home or condo in the Junction neighborhood, please give me a call. I know the area well, spending time there both for work and for pleasure (206-230-0833). Several wonderful homes are currently on the market. It would be my pleasure to show them to you – remember, I’ll bring the coffee.

Get to Know the Fairmount Park Community (West Seattle)

By Ken Urman, Realtor

The Fairmount Park community in West Seattle is located between two north-to-south ridges that extend the length of West Seattle, running roughly along 37^th Avenue SW (on the east) and 42^nd Avenue SW (on the west). Local records trace the name for the area to a Seattle realtor who was familiar with Philadelphia, and named the area after a Philadelphia park. This name became official when it was applied to the area by the Seattle Planning Commission in 1954.

 

 Today, the Fairmount Park neighborhood is roughly four to eight blocks wide, extending between California Avenue SW (on the west) and 35^th Avenue SW (on the east), and basically follows SW Fauntleroy Way (one of the busiest primary roads in West Seattle) from SW Edmonds and SW Genesee Street on the north, and running south to SW Raymond Street. SW Fauntleroy Way runs approximately four miles, and is characterized by almost continuous residential and commercial development. There are a few diagonal sections of SW Fauntleroy Way that were once part of the Seattle Electric Railway Company route in 1907.

 

Many of the single family homes in the Fairmount Park neighborhood were built between the 1940s and1960s. The residences (single-family homes and townhomes) on the slopes and in the low-lying areas near the Playfield were built more recently.

 

 

Fairmount Park covers roughly 475 acres, with 4,636 residents (according to the 2010 Census). Their average age was 35.2 years. The average household size was 2.0 people, and the average family size was 2.7 people.

 

After several years of disuse, the Fairmount Park Elementary School is about to undergo improvements and revitalization. The current building will be expanded into a two-story building of 19.122 square feet, including an expansion to accommodate 10 additional classrooms. When completed, the school will be able to handle as many as 500 students. The improvements and expansion will allow SPS (Seattle Public Schools) to demolish to portable classrooms previously added to the school. The goal is to complete the expansion in 2014 and current plans seem to indicate it will be used as a neighborhood elementary school.

 

The neighborhood essentially has retained its character as a middle-class neighborhood. Its consistent history, as well as its location and proximity to Fairmount Park Playground, the historic Fairmount Park school, and the activity hub of SW Fauntleroy Way make it very desirable.

 

 

Will the Internet Help Me When Buying or Selling a Home?

By Ken Urman, Realtor


A critical question seldom asked by home buyers and sellers is how to use the Internet when buying or selling a home. It is an important question. The Internet has become a critical factor in shopping for most products and services. However, buying or selling a house is not the same as buying a new

pair of jeans. The Internet can be an important tool for real estate sales, but the wise buyer or seller recognizes the need for a local experienced professional Realtor/Broker.


Some people are willing to trust the information provided on websites in choosing a home and finding an agent to close the deal. Others shop for a home by attending open houses to view properties. When they find a home they like, they make the mistake of choosing any realtor available at the moment or they decide to allow the listing agent to handle the entire transaction. I strongly advise against either of these approaches. Some Real Estate websites will recommend or provide agents. However, doing “good Internet” does not mean they employ or work with experienced professional agents who are committed to the best interest of their clients.


It makes sense to conduct some research on the Internet. This includes:

1. Exploring and comparing home costs in the communities surrounding your new place of employment.
2. Researching the communities in the area in which you plan to relocate. You can learn a good bit of helpful information about the school systems, community amenities, property tax rates, local activities, etc.
3. Explore the types of architecture most common in a particular community.
4. Research job opportunities in a city or area.
5. Find a list of Real Estate Brokerages in an area.
6. Use review sites to learn about and compare brokerages and agents. Visit brokerage and agent websites to learn about specialties, certifications, experience, etc., and read testimonials from
   
   previous clients,
7. Use a site like Realtor.com to explore property listings in an area you like.

 

 

Finding the right home for your family will be easier with the help of an experienced professional local Realtor. A Realtor provides a trained first-hand look at properties you discover online. Many factors affect home pricing and average time to sale. These factors are not explained on websites.  Nor will a website provide information about recent events or the history of a property’s ownership.

 

 

The valuable knowledge and insight provided by Realtors/Brokers includes:

• A professional Realtor, committed to the best interests of his or her client, functions as the client’s “wingman,” and provides a needed buffer or filter between other agents and Internet data.
• Identification of misrepresentation on the part of the seller regarding the condition of the home, the reliability of an inspection report, liens against the property, or an unclear chain of title.
• Knowledge or ability to research quickly if properties one might identify online could be under contract by the time one is able to connect with a Realtor.
• Internet listings are unlikely to provide a deep knowledge of neighborhoods or to answer questions about the community, schools, etc. adequately. Realtors are very knowledgeable about the facts and about the history and residents of a community.
• Because they work in a specific area, a local Realtor generally has seen and knows what properties have sold. They can function as a barometer of property value.
• An experienced professional Realtor can actually evaluate asking to sale prices based upon improvements and square footage of a house.
• Internet sources cannot evaluate views (very important in the Seattle-Bellevue-Lake Washington area), curb appeal, amenities, etc. Many desirable attributes are very subjective and do not fit well into internet site algorithms. Here, the experience of the Realtor cannot be duplicated.
• An experienced professional understands the market conditions that govern asking prices and time for sale. A website does not have the ability to bring this information to a buyer’s or seller’s attention.
• Internet sources cannot identify the challenges homeowners may face with particular properties. Only a professional Realtor can understand the challenges and propose solutions.
• Professional, experienced local Realtors have strong working relationships with other service providers, such as inspectors, appraisers, lenders, other agents (to find listings),and trades people for repairs. These recommendations are typically faster, safer, and more reliable.
• The Internet has no way to reconcile inconsistencies in data. A Realtor, however, will persevere until the inconsistencies are explained and resolved.
• It is easy to skip over a property worthy of consideration when conducting an Internet search. A good broker considers many aspects of a property – often aspects that are not apparent from a website.
• Visiting properties and neighborhoods is critical. Things like walk scores and neighborhood reviews will never reveal the true flavor and color of a neighborhood or street. Buyers need to visit, sample and taste!

Particularly in a market as competitive as Mercer Island and the communities surrounding Lake Washington, it is important to use the Internet correctly – for preliminary research. With that information in hand, and with your agent and brokerage research to guide you, contact an experienced professional Real Estate Broker to guide you and to protect your interests. Good Internet research in conjunction with a good (boots on the ground) Realtor is still the best way to make your home sale or purchase a very successful experience.

 

If you are considering buying or selling a home, please give me a call after you do your Internet research (206-230-0833 or 206-499-4948). I am deeply committed to serving the best interests of my clients. I would be delighted to sit down and talk with you about your short term and long term real estate needs.  By the way, I’ll bring the coffee.