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Issaquah Real Estate | Call: 206-999-1690

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Just how much more bang for your buck do you get tacking 15 minutes on your commute?

July 31, 2018 by Kathy Reichle Leave a Comment

You don’t have to get far out of Seattle to reap the reward.

Your money typically goes further outside Seattle. But is that change in commute worth the extra money?

A new report from Zillow and HERE Technologies looked at exactly how much homeowners could save by adding 15 minutes on to their commute. As it turns out, it may be worth a bit of compromise.

In the Seattle metro, the typical home becomes 11.3 percent less expensive when it’s shifted 15 minutes away from downtown, or about $54,599. For renters that number is more like a 6.2 percent drop in monthly rent, or around $125 per month.

That places Seattle as one of the top cities that see the greatest home value savings by moving at least 15 minutes further from the city core (others include Washington, D.C. and Chicago).

Of course which direction you take your 15 minutes will affect both your commute and your home: Heading north or east from downtown puts you smack in some of the priciest and most sought after neighborhoods in the city right now.

So where’s the best bang for your buck according to Zillow? If you’re a homeowner that’ll be Highline, where the current median home value is $387,700, and the median commute time in a car during rush hour is 38 minutes.

Which makes the first-time-on-the-market, Mid Century Modern above, which is listed for $599,000, on the higher end of the market.

Almost any neighborhood south of Seattle is going to see more “bang for your buck” than the neighborhoods to the north.

Then again, if you want to remain a renter you should be looking elsewhere, according to Zillow’s report: The best “bang for your buck neighborhood” for renters are South Park and Georgetown, in the 98108 zip code. There the current median rent is $2,356, while the median commute is 27.2 minutes in rush hour.

By Zosha Millman, SeattlePI

Filed Under: A little bit of Trivia, Affordable Housing, Amazon, Eastside Real Estate Blog, Homeownership, King County home prices, Larry and Kathy Reichle, Saving Money Tagged With: Home ownership, House hunting, housing prices, Trending Topics

Tahoma School District Home on 3.9 Acres….An Entertainers Delight!

February 16, 2017 by Kathy Reichle Leave a Comment

Don’t miss out on this Country oasis, a true beauty, within the award winning Tahoma School District. Home sits on nearly 4 acres of Serene, wooded setting crossed by Honey Creek and backs up to pipeline trail.  Home is 3913 sqft with 3 upstairs bedrooms and 2 downstairs, 3.5 total baths.  Cozy up to a brick fireplace & corner breakfast nook in the spacious kitchen with upgraded stainless steel appliances.   The master bedroom is vaulted with a newly remodeled 5 piece bath with tile & granite. Great quality…..great craftsmanship!  Downstairs rec room with full 2nd entertaining kitchen, 5th bedroom downstairs use as a den or a perfect for mother-in-law suite.  Close-in country lifestyle complete with tree house & chicken coop & work-shed.  Spend your summer nights relaxing in the gazebo or around the fire pit.

 

Filed Under: Homeownership, Larry and Kathy Reichle, Tahoma School District Home Tagged With: Home ownership, House hunting

House Hunters May Be Getting Some Relief

September 27, 2016 by Kathy Reichle Leave a Comment

USA-House-1

House hunters priced out of the market might finally be getting a bit of relief.

For the first time since 2011, incomes rose faster than home prices in the U.S., according to a new report from Zillow.

The median home price climbed to $188,100 in August, a 5% increase from the same time a year ago.

And last week, the Census Bureau reported that median household income increased to $56,516 in 2015, up 5.2% from 2014.

“People will have a chance to see more money coming in on a monthly basis in their paychecks, allowing them to save more for a down payment or afford more in a mortgage payment,” said Svenja Gudell, Zillow’s chief economist.

While the rise in income — which was the first increase since 2007 — is good news for wanna-be home buyers, incomes still have a long way to go to catch up with home values.

Home prices have shot up since 2012, as strong demand and limited supply created an affordability issue in markets throughout the country.

In the wake of the 2008 housing crisis, banks also stiffened their lending standards, including down payment requirements. Higher prices mean larger down payments, which are a major obstacle for many potential buyers.

Mortgage rates hovering near record lows have helped ease some of the price pain. The average rate of a 30-year fixed mortgage is 3.48%, according to Freddie Mac. A year ago, the rate was 3.86%.

While home appreciation is slowing nationwide, some markets are still on fire.

Prices in Portland, Oregon; Seattle and Denver experienced double-digit annual growth. For instance, in Portland, home prices are up nearly 15% year over year to hit $338,900.

Renters are also starting to see some relief.

Rising home prices had pushed more people into the rental market, which in turn caused rental prices to soar.

Right now, rents are growing 1.7% nationally, according to Zillow. A year ago, rents were rising by more than 6%.

Filed Under: Affordable Housing Tagged With: House hunting, housing prices

Eastside Real Estate Blog

The Cost Of Purchasing A Home In The U.S. Increased 55% Last Year. But It’s Still A Great Time To Buy A House For These Five Reasons

I’ve always been all-in on homeownership. Yet, for the first time in two decades since the beginning … [Read More...]

New Listings Signal Hope Is On The Horizon For Home Buyers

At the midpoint of April, housing markets are reflecting a changing landscape, according to a new … [Read More...]

Upscale Kitchen Features That Can Boost A Home’s Value

Between preparing to host family and friends for Thanksgiving and making gift lists and checking … [Read More...]

Contact Us

Issaquah real estate

Larry & Kathy Reichle

371 NE Gilman Blvd. #160
Issaquah, WA 98027

Phone: 206-999-1690

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Eastside Real Estate Blog

The Cost Of Purchasing A Home In The U.S. Increased 55% Last Year. But It’s Still A Great Time To Buy A House For These Five Reasons

I’ve always been all-in on homeownership. Yet, for the first time in two decades … Read More

New Listings Signal Hope Is On The Horizon For Home Buyers

At the midpoint of April, housing markets are reflecting a changing landscape, … Read More

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