News blog for Seattle's Fremont neighborhood

 

Entries from May 2013

Northwest Seattle housing market remains as hot as the recent weather

May 14th, 2013 by Sara

There are no signs that the current trends of low inventory, rising prices, short sales times and multiple offers will be abating anytime soon.

For NW Seattle, including Ballard, Fremont, Green Lake, Phinney and Wallingford) there continues to be only about a 1 month supply of single-family home inventory. This tight inventory can be attributed to continued low interest rates, robust Puget Sound area hiring and a generally improved economy including significant gains in the stock market. Whether the market will become more “balanced” (defined as a 3-6 month supply of homes) will hinge on many more listings hitting the market over the coming months.

Of NW Seattle homes closed in April the average sale price was almost 103% of the most recent list price.  This indicates continued multiple offer situations.

Prospective buyers also should think in terms of at least a minimum of 3-5+ year home ownership horizon and preferably maintain the option to hold onto their home through future downturns in the market. Home seller costs (excise tax, title/escrow fees, sale commissions) of approximately 9% of the sales price should also be factored into any decision to purchase.

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Click here for more stats on other Seattle neighborhoods. John Madrid is a Managing Broker with John L. Scott Real Estate – University Village and is a 2005-2012 Seattle Magazine “Five Star” Agent. His clients include both home buyers and sellers. He can be reached at 206-498-1880, john@live206.com or www.live206.com.

Statistics are deemed reliable but are not guaranteed.  All information should be verified to the users own satisfaction.

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Fatal contact with high voltage line

May 4th, 2013 by Sara

May 3rd, from Seattle City Light:

At  12:20 a.m. a person climbing a Seattle City Light Transmission tower near 3rd Ave. NW and NW Leary Way  came in contact with the 120 kV line.   Seattle City Light, Seattle Fire Department and Seattle Police all responded to the site after an initial report of a fire.  Police on scene said witnesses told them a man was seen climbing the tower and they saw a large flash and an explosion.  This would be consistent with an object causing a short circuit on a high voltage line.  The tower is 200 feet tall, and the man was seen to fall to a platform on the tower’s 150 ft. level.  Police determined that the man was dead.

Seattle City Light crews rerouted power and then de-energized all the circuits on the tower, so fire rescue could safely recover the body.  Only one customer lost power during this period.  City Light crews found no evidence of damage to the tower or the high voltage line.

Seattle City Light is reviewing how an unauthorized person could climb the tower.  There are no ladders on the tower near the ground level. Police are investigating this as a trespass and accidental death.

Power was restored at 7 a.m. to the customer that lost power during the recovery operation.

 

 

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