Survey Reveals Notable Decline in First-time Buyers

While over a month old, this is interesting. I wonder: how does the percentage of hopeful first time home buyers compare to years past? Given that first time home buyers are typically younger, is their decline because homes became less accessible to them, or could it be that they are less interested in purchasing, due to aversion to risk (they have seen that depreciation is possible), they have more of a “sharing economy” mentality, or some other factor?

Read the full article here.

National Association of Realtors, www.realtor.org

 


Posted on December 15, 2014 at 1:33 pm
Michael Doyle | Posted in Buyers, Uncategorized | Tagged , ,

Doyle’s Deals: Lake Washington Blvd

Here's another Doyle's Deal (I don't represent the Seller): 
 
  • Priced high enough to keep Buyers away, but an estate so they likely want to liquidate
  • Across the street from Lake Washington
  • Large lot
  • Large house
  • A remodel fits nicely into the Modern movement

 

View the listing details here. 

MLS# 716262  |  Listing Price: $1,500,000

 

Posted on December 1, 2014 at 3:03 pm
Michael Doyle | Posted in Doyle's Deals | Tagged , , ,

Seattle’s Rental Market

I’ve got Seattle’s spectacular rental market on my mind today. For a few years, my friends in “apartments” (involved in financing/building them) have been warning of over-supply. But…demand for both the units as rentals and for them as investments continued (many out-of-area money sources looking to get in on the gems of the Emerald City). Just yesterday, I heard a first-hand account of over-supply. The asset: 

  • a condominium unit at Gallery; built in 2009, in what I call the “quiet” part of Belltown, at 2nd and Broad (close to Seattle Center and SAM’s Sculpture Park). Solid gym, party deck, and other amenities.
  • a 2BR/2BA, 2parking, 1160sf unit in the cool glass “bump out” that juts proudly out towards Broad Street
     

The owners (ThriveSeattle friends!) told me that they just re-rented it after 1 month of looking for a tenant.

The previous tenants had been paying $3,000/month, or $2.59/sf.

The new tenants will pay $2,500/month or $2.16/sf

The owners report having shown the unit to approximately 30 prospective tenants and received 3 applications, with one prospect entering their thoughts into a spreadsheet comparing dozens of options.

Some prospective tenants told the owners that the larger all-apartment complexes (my friend owns in a condo building and rents her unit there out) were offering iPads and other lease-signing bonuses.

I’d heard all this was coming, but hadn’t seen it yet. What’s your experience been?


Posted on November 6, 2014 at 4:36 pm
Michael Doyle | Posted in Rentals, Seattle Market |

Doyle’s Deals: Penthouse in The Pomeroy

Okay, so I do like to find deals in strange places. Believe it or not, I think there may be a good deal here (I do not represent the Seller). If one looks at this is as a raw "space" deal, they are looking at a large, West-facing condo that currently enjoys sounds of the Battery Street tunnel below, but will likely someday have that noise and exhaust go away. And it seems that those elements will be replaced by a re-vitalized waterfront with likely zoning that prevents building in front of this view. So…all those should be verified, but…I think there may be something here. Yes…those are stripper poles.

View the listing details here. 

MLS# 710937  |  Listing Price: $1,799,500


Posted on November 3, 2014 at 10:10 pm
Michael Doyle | Posted in Doyle's Deals | Tagged , , ,

Seattle Real Estate Supply according to the cranes

Been thinking about how much the construction cranes tell us about housing inventory in Seattle. The red and white cranes to the right are building Insignia; the only significant condo project coming out of the ground. The rest of the cranes represent new jobs (commercial office) and non-owner occupied housing units (apartment buildings) in South Lake Union. Through this lens, the strong seller's market makes more sense. 


Posted on August 21, 2014 at 11:48 pm
Michael Doyle | Posted in Uncategorized | Tagged , , , , , ,

Rent or Buy?

 
Interesting explanation of what creates the most booming markets, perhaps the most relevant point that “They are fueled further by the low-interest rate policies that are aimed at bolstering the overall national economy but don’t discriminate based on geography.

Posted on May 22, 2014 at 6:28 pm
Michael Doyle | Posted in Uncategorized |

Hiring

ThriveSeattle (my real estate business) is growing! Thanks to so many of you, I am being asked to serve more and more great people. Thank you!

I am looking for someone to help Kenna (my Operations Director) so that I can focus on strategy and negotiations while backed by a smooth-running office operation.

So, if you know of someone you think would thrive within my team, please send them my way. 

First and foremost, I am looking for the right type of person:
-obsessed with customer service
-extremely well-organized
-high capacity for detail

The work will begin as:
-part-time, hourly position; approximately 1/2 time
-physically in-office at Windermere Lakeview; 1920 N. 34th Seattle 98103
-real estate license not necessary

Then, we’ll see where we go:
-I appreciate that some people might prefer for the job responsibilities to remain the same. As long as we have a good fit, I would love that type of consistency. Warning: if it works well, I will likely want this to become full-time.
-I also respect and applaud the desire to grow, so will support a career path into real estate agency

To start, I am looking for help with: 

Listing Preparation
-coordinating pre-inspections, vendors, stagers, photographers, marketing placement, etc.
-interaction with title company and affiliated businesses 

Transaction coordination
-interaction with title and escrow
-coordinating vendors (inspectors, movers, etc.)

Supplies and basic admin support
-listing packets, marketing material procurement, etc. 

 That’s it. Thanks!


Posted on May 5, 2014 at 6:56 pm
Michael Doyle | Posted in Uncategorized |

Windermere Cup

Windermere Cup Shore Party

Saturday, May 3, 2014

Best view on the shore! 

Entertain your friends, family, and clients at this exclusive shore party, where you’ll enjoy prime viewing of the Windermere Cup races and Opening Day boat parade from the northeast shore of the Montlake Cut (next to the UW waterfront activities center). Don’t miss it. Come for all or part of the day.

$40.00 ticket price includes: continental breakfast, lunch buffet, beverages (including beer and wine), and souvenirs.

Shore Party Schedule of Events:

-9:30 a.m. Continental Breakfast

-10:00 a.m. – 11:45 a.m. Races (Watch as more than 800 athletes, ages 14 – 70, compete.)

-11:45 a.m. Lunch Buffet

-12:00 p.m. Seattle Yacht Club’s Opening Day Boat Parade

 

Enjoy one of the largest boat parades in the world.

This year’s theme is Toys Ahoy!

 

I would be happy to have you as my guest. If you are interested in joining me, please let me know so I can take care of the tickets. Email or call at mdoyle@windermere.com or 206-669-0203.

 


Posted on April 14, 2014 at 6:46 pm
Michael Doyle | Posted in Uncategorized |

Can you find the Rainier…

Compliemtns of Cleary O'Farrel Photography; best use of Rainier box in a real estate photo. Can you find it?


Posted on April 9, 2014 at 10:10 pm
Michael Doyle | Posted in Uncategorized |

Where Prices are Headed over the Next 5 Years?

This seems like one of the most balanced approaches to real estate price prediction: Where Prices are Headed over the Next 5 Years?


Posted on March 25, 2014 at 10:38 pm
Michael Doyle | Posted in Uncategorized |