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Seattle Real Estate Podcast
“We continue to see more victims being shot each year,” Interim Seattle Police Chief Adrian Diaz said.
A few Seattle leaders held a news conference Tuesday morning to address the recent surge in gun violence. This conference came after six shootings took place across Seattle over the weekend, one of which left two people dead at a North Seattle apartment building. But Diaz says that’s just the latest in what’s been a disturbing trend.
“So far, year to date, there have been over 100 additional shootings compared to the same time last year in 2020,” Diaz said.
Officers are digging in to these investigations, but the big spike in shootings combined with the loss of nearly 300 officers makes it a struggle.
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The investment form in a report, said as many as 750,000 households could face eviction before the end of the year —and that as many as 3.5 million households nationwide are behind in their rent payments.
At this point, the only thing stopping that would be an eviction moratorium from Congress, which has been hesitant to agree to such a policy so far. The Biden Administration ordered one previously, but that was overturned by the Supreme Court over the weekend. Many state-level eviction bans are also set to expire soon.
While the government has taken steps to make it easier for renters at risk to receive funds from the Emergency Rental Assistance program, it’s unlikely that money will arrive in time for thousands of families.
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A judge has ruled that Charter Amendment 29, known as “Compassion Seattle,” won’t go before Seattle voters in November. The measure’s potential effect on the city was still being debated, but it could have dramatically changed the way the city addresses homelessness if it had passed.
But its spirit could still influence the Nov. 2 election, in which persistent visible homelessness, and its pandemic-related growth in places like downtown Seattle, will likely be key issues.
King County Superior Court Judge Catherine Shaffer said that she actually liked the ballot initiative and would have voted for it if it were on the ballot — but her decision was about whether it goes beyond the power given to cities by state law.
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The Supreme Court on Thursday lifted the Biden administration's newest federal ban on evictions, granting a bid from a group of landlords to block the pandemic-related protections for renters facing eviction in most of the country.
In an unsigned opinion with the three liberal justices in dissent, the divided court said that "careful review" of the case "makes clear that the applicants are virtually certain to succeed on the merits of their argument that the CDC has exceeded its authority."
"It would be one thing if Congress had specifically authorized the action that the CDC has taken. But that has not happened," the court said. "Instead, the CDC has imposed a nationwide moratorium on evictions in reliance on a decades-old statute that authorizes it to implement measures like fumigation and pest extermination. It strains credulity to believe that this statute grants the CDC the sweeping authority that it asserts."
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https://www.cbsnews.com/news/eviction-moratorium-blocked-supreme-court/
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The Democratic Party’s quest to defund police forces, an act in which it kowtowed to its hard-left-wing base, has come to a very bitter end. The resulting surge in violent crime has produced a massive public backlash that threatens the careers of elected Democrats throughout the nation. Naturally, the endangered species is trying to distance itself swiftly from the wreckage that “defund the police” has left behind.
The mayors of Portland and Seattle, who respectively slashed police funding by $15 million and $7.5 million last year, are now moving to restore those budgets amid spikes in violent crime made worse because police officers are choosing to retire rather than stay where their work is scorned by their employers.
Something similar is happening in Chicago, where last year, Mayor Lori Lightfoot demanded that the police force leave vacant positions unfilled as part of a broader drive to cut police budgets. Lightfoot now faces a 60% increase in murders since 2019 , and suddenly, she sees the light — the police are not expendable, and the thin blue line between chaos and order cannot be allowed to get any thinner.
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Competition for homes eased slightly in July across much of Washington state, but brokers from Northwest Multiple Listing Service expect the respite to be short-lived, with inventory still tight and prices still climbing.
Northwest MLS brokers added 12,916 new listings to the database during July. They reported 11,567 pending sales (mutually accepted offers) areawide, which covers 26 counties. At month end, there were 7,948 total listings offered for sale, down 22.5% from the year-ago total of 10,259. That was the highest level since October when inventory totaled 8,623 properties, including single family homes and condominiums.
"August historically is the last month of the year with elevated levels of new listings before they slowly taper down in the fall and decline more substantially over the winter," Scott said, reminding buyers they will find a better selection now than in the coming months.
NWMLS statistics show there were fewer pending sales last month (11,567), than during both June (12,328) and May (11,969). July's volume was down about 8.8% from the year-ago total of 12,682 pending sales.
"While dangerous to compare 2020 lockdown figures to this year, it is interesting to see that new listings volume is starting to rise above 2019 levels," observed James Young, director of the Washington Center for Real Estate Research at the University of Washington. In July, MLS figures show member-brokers have added 1,723 more new listings of single family homes and condos than during J..
A new real estate terminology is emerging during a time of racial reckoning as many agents drop biased language.
Browse through home listings today and you'll find terms like "primary bedroom," "dual closets" and "in-law suites" instead of "master bedroom," "his-and-hers closets" and "mother-in-law suites."
It's part of a new real estate terminology that's emerging during a time of racial reckoning and pleas for more inclusive language.
"There's a hidden discriminatory piece that falls when you say 'master' bedroom," said Jackie Berry, a listing agent for Edina Realty and an educator in a racism and real estate continuing education class for Minnesota industry professionals.
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Skyrocketing response times and SPD staffing shortages were the focus of attention at the Seattle City Council Public Safety Committee meeting.
During discussions on the SPD Quarterly Finance and Staffing Report Tuesday, city council addressed SPD staffing levels and reports that response times for certain crimes can take more than 60 minutes to response to.
Seattle Police warned this is exactly what would happen, as response times are getting longer and longer for certain crimes with the mass exodus of nearly 300 officers.
“This attrition is concerning and when we look at 911 response times as well,” said Councilmember Alex Pedersen.
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Gov. Kate Brown, the Oregon Democrat, signed a bill last month with little fanfare that drops the requirement that high school students prove proficiency in reading, writing or math before graduation, a report said.
The Oregonian reported that the governor has seemed to avoid discussing Senate Bill 744. Her move to sign the bill was "not public until recently, because her office did not hold a signing ceremony or issue press release." The paper also pointed out that the bill was first signed on July 14 but not added into the state’s database until July 29 due to a glitch in the system.
In June, state lawmakers voted to approve the bill that suspended the requirements for students for three years, KATU reported. Foundations for a Better Oregon said in a statement at the time that the bill is intended to "truly reflect what every student needs to thrive in the 21st century." Supporters of the bill insist that considering math and reading essential skills has been an unfair challenge for students who do not test well. The report said the requirement was first suspended at the start of the pandemic.
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The deadly TriMet shooting over the past weekend was the city's 56th homicide this year. That means this year is the deadliest Portland has seen in two and a half decades, according to The Oregonian/OregonLive, and there are still four months left until 2022.
The Oregonian says there were 55 homicides in 1994. KATU asked police to verify that number, but Portland police were unable to accommodate the request Monday.
Police have yet to release any more information on the Southeast Portland incident, which happened near the intersection of Southeast Hawthorne and 29th, only saying a disturbance preceded the deadly gunfire.
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https://katu.com/news/city-in-crisis/portland-reaches-grim-milestone-in-years-number-of-homicides
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New York Gov. Andrew Cuomo on Tuesday announced his resignation effective in two weeks, amid a sexual harassment probe following accusations brought by 11 women who worked for him.
"New York tough means New York loving, and I love New York and I love you," Cuomo said, "I would never want to be unhelpful in any way, and I think given the circumstances, the best way I can help now is if I step aside and let the government get back to governing, and therefore, that’s what I’ll do."
The governor started his press conference by saying he's "deeply" sorry for any behavior deemed inappropriate during his time in office but denied the sexual harassment allegations contained in state Attorney General Letitia James’ investigation.
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https://www.foxnews.com/politics/new-york-cuomo-resigns
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The median price of an American house has increased by 28 percent over the last two years, as pandemic-driven demand and long-term demographic changes send buyers into crazed bidding wars.
Might the fact that corporate investors snapped up 15 percent of U.S. homes for sale in the first quarter of this year have something to do with it? The Wall Street Journal reported in April that an investment firm won a bidding war to purchase an entire neighborhood worth of single-family homes in Conroe, Texas—part of a cycle of stories drumming up panic over Wall Street’s increasing stake in residential real estate.
Then came the backlash, as cool-headed analysts reassured us that big investors like BlackRock remain insignificant players in the housing market compared with regular old American families.
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Rep. Dan Caulkins (R-Decatur) is shedding light on a recent marketing research report that estimates the end of federal unemployment benefits will lead to nearly 2 million jobs being filled through the end of the year.
Morning Consult reported that 26 governors chose to prematurely terminate the extra $300 per week unemployed workers were receiving under the American Rescue Plan because they argued the additional benefits were preventing individuals from returning to work.
“A new poll delivers a devastating blow to the latest lie from the mainstream media and Governor Pritzker about unemployment,” Caulkins wrote in a July 16 Facebook post. “A whopping 1.8 million Americans turned down jobs because the government extended unemployment benefits and it discouraged work.”
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The Washington Food Industry Association (WFIA) is calling on the City of Seattle to address its crime problem. The association argues its members feel conditions are not safe for employees and shoppers.
“Simply put, we need the city council to work with the Seattle Police Department to bring staffing levels up in a way that meets basic levels of public safety. Action must be taken to increase the number of police available to respond to emergency calls in a timely manner. The current response times are simply unacceptable. When you call 911, you expect a timely response,” said WFIA President Tammie Hetrick in a news release.
More than 200 Seattle police officers have left the force in recent months, and workers at grocery and convenience stores say they are feeling the impacts of the loss.
"I just try to do my best to protect the store and protect myself," said Ty Kwon, manager of Belltown Market.
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As the most sweeping police reform in the nation takes effect in Washington state over a year after the death of George Floyd, law enforcement agencies outside of Seattle are arguing new restrictions set on officers when interacting with the public may further incentivize criminal activity.
The nearly a dozen bills, passed by a legislature controlled by Democrats and signed by Democratic Gov. Jay Inslee in May, took effect on July 25 and cover virtually all aspects of policing, including the background checks officers undergo before they're hired; when they are authorized to use force and how they collect data about it; and the establishment of an entirely new state agency to review police use of deadly force.
Perhaps the most concerning changes come under two new laws, H.B. 1310 and H.B. 1054, because they take away officers’ ability to pursue criminals or prevent crimes from occurring, Lewis County Sheriff Robert Snaza told Fox News. Under the first new law, officers now must have probable cause, a higher threshold, instead of traditionally just reasonable suspicion, before they can use force.
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A NEW REPORT has confirmed the anecdotes: Seattle rent prices are almost as ridiculously high as they were before the pandemic.
The median monthly cost for a one-bedroom in July is $1,633, and a two-bedroom now fetches $2,037 citywide, according to Apartment List’s latest rent review. The site found that rents across Seattle have climbed to just 5 percent below their pre-pandemic levels, a trend that tracks with a national uptick but marks a significant departure from 2020′s price free fall.
After coronavirus arrived in earnest last year, Seattle experienced a 22 percent drop in rents, the second-steepest dive of any major American city. This relief wasn’t felt universally: A Zillow analysis found that more expensive zip codes saw faster declines than less expensive ones, and Redfin reported that many of the city’s residents remained rent-burdened.
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The White House and the Federal Reserve broadly agree: Inflation isn't here to stay. Red-hot prices will cool off as the US economy reopens.
Most economists seem to concur that inflation is "transitory," as the Fed puts it. Investors aren't freaking out either about the biggest price hikes since 2008.
But the stakes couldn't be much higher here. If the consensus is wrong (as it sometimes is) and inflation remains uncomfortably high, it could threaten the economic recovery, the stock market boom and even the Biden agenda.
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Boeing will put its battered engineering reputation on the line again this week when its Starliner spacecraft blasts off from Florida with a load of supplies for the International Space Station.
The mission is a do-over of a 2019 trip that almost ended in calamity, and a dress rehearsal for the Boeing capsule’s first flight with astronauts later this year. If successful, it would narrow the gap with an ascendant rival, SpaceX, and answer the latest space-faring feats by the billionaire founders of Blue Origin and Virgin Galactic.
A tour de force by Starliner might also help distract from a potential problem Boeing is facing back on earth: An exodus of some of the company’s most experienced engineers that threatens its rebound from a bruising run that includes the grounding of its 737 MAX jets after two fatal crashes and the plunge in global air travel amid the spread of the coronavirus.
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There were four people killed in Seattle early Sunday, plus at least six more injured in unconnected shootings. That was in addition to another deadly shooting that happened Friday night bringing the weekend total to five deaths.
Today Mayor Jenny Durkan gave a press conference about the weekend violence in which she pointed out that lack of police staffing was part of the problem. “Over the past 17 months the Seattle Police Department has lost 250 police officers,” Durkan said. She continued, “We’re on path to losing 300 officers. We are creating meaningful alternatives but as I said last year the city has an obligation to still continue constitutional policing and respond to 911 calls.
“Not unexpected, losing these number of officers, when city leaders talk about cutting the department by 50 percent. You will lose employees. Families need security. Workers, even police officers, need working conditions that support them. We cannot just cut. We need a plan.”
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San Francisco, in the midst of a severe housing crunch, has fined a pair of developers for adding more housing units to an apartment complex than they were permitted to build. It might also require them to remove some of the existing illegal units.
On Friday, the San Francisco Chronicle reported that an ownership group including Yin Kwan Tam and Cindy Zhou Lee has agreed to pay the city $1.2 million to settle numerous code violations at a collection of apartment buildings they constructed on San Bruno Avenue in the city's Portola District.
Planning documents show that in 2013 the city granted permission for the construction of five buildings—containing 10 units of housing plus office space and ground-floor retail—on lots that were either vacant or featured a shuttered gas station.
The developers instead ended up building 29 total units without any of the offices or open space they had promised. In addition, the final project lacked some of the promised parking spots and had none of the fancy façade features depicted in the original plans. The new units also lack a second means of egress, which is required for fire safety purposes.
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Here is your 𝑺𝒆𝒂𝒕𝒕𝒍𝒆 𝑹𝒆𝒂𝒍 𝑬𝒔𝒕𝒂𝒕𝒆 𝑴𝒂𝒓𝒌𝒆𝒕 𝑼𝒑𝒅𝒂𝒕𝒆 for July 2021. Your Market In A Minute Video, everything you need to know about the Seattle Real Estate market in 1 minute!!
If you watch 1 video this month about real estate, make it this one!
𝗧𝗼𝗽𝗶𝗰𝘀 𝘁𝘆𝗽𝗶𝗰𝗮𝗹𝗹𝘆 𝗰𝗼𝘃𝗲𝗿𝗲𝗱 𝗶𝗻𝗰𝗹𝘂𝗱𝗲:
King County, Snohomish County, Pierce County, Thurston County Real Estate Markets
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𝑴𝒂𝒓𝒌𝒆𝒕 𝒐𝒇𝒇𝒆𝒓𝒔 𝒉𝒐𝒑𝒆 𝒇𝒐𝒓 𝒉𝒐𝒎𝒆𝒃𝒖𝒚𝒆𝒓𝒔, 𝒃𝒖𝒕 𝑵𝒐𝒓𝒕𝒉𝒘𝒆𝒔𝒕 𝑴𝑳𝑺 𝒃𝒓𝒐𝒌𝒆𝒓𝒔 𝒔𝒂𝒚 𝒊𝒕 𝒎𝒂𝒚 𝒃𝒆 𝒕𝒆𝒎𝒑𝒐𝒓𝒂𝒓𝒚
Homebuyers may find some good news in the latest report from Northwest Multiple Listing Service (NWMLS). The number of active listings at the end of June, 6,358, reached the highest level since November when buyers could choose from 6,505 properties. The volume of new listings added last month was the highest number in 17 months (13,111 last month versus 14,689 at the end of November 2019).
"Homebuyers will be happy to hear that between May and June the number of listings in King, Pierce, and Snohomish counties rose, giving them more homes to choose from and possibly easing the pressure just a little," remarked Matthew Gardner, chief economist at Windermere Real Estate.
For the tri-county area, total active listings of single family homes and condominiums increased 14.5% from May. System-wide, the report covering all 26 counties served by Northwest MLS shows month-to-month inventory improved 14.9%.
"Buyers need some relief, so I hope this trend continues," said Gardner.
Broker Dean Rebhuhn, owner at Village Homes and Properties, agreed the slight increase in new listings is good news for buyers, but tempered his optimism. "Low inventory and high demand coupled with low interest rates continue to drive up the market." He also noted Kittitas County "is no exception to brisk sales. Many homes in that county are selling within one or two weeks."
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Last year, Greg Osuri decided he had had enough of the Bay Area. Between smoke-choked air from nearby wildfires and the coronavirus lockdown, it felt as if the walls of his apartment in San Francisco’s Twin Peaks neighborhood were closing in on him.
“It was just a hellhole living here,” said Osuri, 38, founder and chief executive of a cloud-computing company called Akash Network. He decamped for his sister’s roomy town house in the suburbs of Columbus, Ohio, joining an exodus of technol ..
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Advocates for a safe supply of drugs handed out heroin, cocaine and methamphetamine outside the Vancouver Police Department Wednesday (July 14) afternoon.
City Councillor Jean Swanson, along with members of the Drug User Liberation Front (DULF) and the Vancouver Area Network of Drug Users (VANDU), distributed the free drugs outside the Vancouver Police Department.
The collective action demonstrates the "life-saving potential of a community-led response to the crisis of prohibition in Canada" as a necessary alternative to Vancouver's proposed model of decriminalization, explains a news release. The drugs that were handed out were tested via "FTIR spectrometry and immunoassay, and are free of fentanyl, fentanyl analogues, benzodiazepines, and other harmful adulterants."
Jeremy Kalicum, DULF organizer, tells Vancouver Is Awesome that “the crisis is unbearable and it is ridiculous that we have to put ourselves at risk to move forward with a commonsense harm reduction principle.”
The group spent roughly $3,000 on drugs and distributed it among four groups. "We gave out more than the proposed threshold limit that's in Vancouver's proposed model.
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Sorry, kids. It’s not getting any easier to buy a home in Seattle. County property values have continued to rise and two Seattle neighborhoods including Capitol Hill led the way in 2020, according to the King County Assessor’s office.
The office says median residential property values rose by 7.9% on Capitol Hill, and by 11.3% in the Ravenna/University District area in 2020. The message comes as the assessor is preparing homeowners and landlords for sticker shock as the annual process of mailing property valuation notices to taxpayers begins.
Assessor John Wilson says reluctance to sell by existing property owners is helping drive the continued surge. “No one knew what to expect a little over a year ago when this public health emergency began,” Wilson said in the announcement. “Now it is clear that a primary impact on property values has been caused by homeowners not wanting to sell at this time, leading to reduced supply and big price and value increases.”
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Noah Braley received the text that would upend his plans for the next year a little over a week ago, on July 1 — your rent will be going up by a lot, his property manager wrote, but don’t freak out.
“I’m like, ‘Excuse me, don’t freak out?’” said Braley, who has lived in the building since 2013, when he was still an urban planning student at Western Washington University. “How much is it?”
The answer is $405, which Braley discovered when he returned home from his job as a line cook at Italian restaurant Storia Cucina. The letter taped to his door was sent by Son-Rise Property Management, and it infuriated Braley — it said that, starting in September, rent for his two-bedroom apartment would increase from $1,195 monthly to $1,600.
“I can’t afford to pay this. I have $300 student loans I’m trying to pay off. I’ve got car insurance, I’ve got $250 health insurance bills,” said Braley, who has not missed a rent payment throughout the pandemic. “Rent on top of that? Where am I going to find an extra four grand a year?”
Braley’s situation is not an anomaly. Rent prices throughout the area are skyrocketing as the state begins a phased lifting of its pandemic-spurred eviction moratorium. In Bellingham, many tenants are getting the unwelcome notification that their rent will increase in the coming months, prompting anger as they grapple with the question of whether they can continue living in their homes.
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