lonniesnyder's Blog: News & Media

Whether you see the housing market "glass" as half-empty or you see it as half-full, industry experts agree that homeownership is still one of the safest, most secure ways to build long-term wealth. On a national level, home appreciation has historically increased 5% to 6% annually, according to economists at the National Association of Home Builders (NAHB).

Doesn't sound like much? Consider the return on your original investment, not the home price alone. Here's an example that puts it into perspective: Let's say you make a 10% down payment on a $200,000 home (an investment of $20,000). At a 5% annual appreciation rate, your $200,000 home would increase in value $10,000 during the first year. Earning $10,000 on an investment of $20,000 is an…

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If you find yourself stumbling over weird acronyms in a real estate listing, don't be alarmed. There is method to the madness of this shorthand (which is mostly adopted by sellers to save money in advertising charges). Here are some abbreviations and the meaning of each, taken from a recent newspaper classified section:

*assum. fin. -- assumable financing
*dk -- deck
*gar -- garage (garden is usually abbreviated "gard")
*expansion pot'l -- may be extra space on the lot, or possibly vertical potential for a top floor or room addition. Verify actual potential by checking local zoning restrictions prior to purchase.
*fab pentrm -- fabulous pentroom, a room on top, underneath the roof, that sometimes has views
*FDR -- formal dining room (not the…

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Generally speaking, there are two ways to go when you are thinking about home improvements. Either you splurge for something purely for the pure pleasure of having it -- that Italian marble bathroom you've dreamed about; that skylight that your spouse has been hinting at for the last six years -- or you take a pragmatic approach, putting in such amenities as a new kitchen or a redwood deck because you want to increase your home's market value.
Don't ever expect to score on both counts. Just because you pour $20,000 into your home doesn't mean that your house is worth $20,000 more, I had a guy who invested $100,000 in a $130,000 home after he lived there for four years. He put it on the market at $225,000. He was offered $170,000.  His mistake: spending…

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These numbers are based on a three month historical analysis that is updated on a weekly basis.

MLS Area 500 (Newcastle, Bellevue South of I-90 & Issaquah South of I-90)
Single Family Homes
Average Days on Market: 93 Days (No Change From Last Week)
Inventory of Active Listings: 603 (Up from 591 Last Week)
Inventory of Sold & Pending Listings: 225 (Up From 165 Last Week)
Average List Price: $888,917 (Up from $888,342 Last Week)
Average Sale Price: $751,967 (Up from $737,816 Last Week)
Median Sale Price: $623,000 (Up from $615,000 Last Week) (1/2 sell for more & 1/2 sell for less) Analysis of MLS Area 500 for Single Family Homes: This market has seen rate increases for three weeks in a row. However, the area still favor buyers over sellers.  A… Read Full Post

             

1961 Seattle, Washington, USA Edward E. Carlson, designer

Did you know the 605 foot (184 meter) Space Needle was designed by Edward E. Carlson for the 1962 World's Fair in Seattle. The futuristic structure has become a symbol for the city, and is home to festive events such as the annual New Year's Eve fireworks display.

The structure has gone through many transformations. Early plans called for a tethered balloon. Carlson's plan called for a soaring needle topped by a disk reminiscent of a flying saucer. The structure required a 120-foot-square underground foundation. 467 cement trucks spent an entire day filling the hole. The completed foundation weighs as much as the Needle.

Massive steel beams form the slender legs and upper…

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With traffic and gas prices both getting worse new numbers tracking use of the new HOT lanes on State Route 167 between Auburn and Renton show that not only are more drivers each week using the lanes, they don't seem to mind paying more for them either.

The lane is free to cars with two or more passengers. But state troopers are writing $124 tickets to drivers caught crossing the HOT lane's double-white line. To use the HOT lanes drivers must set up prepaid Good to Go accounts and install windshield transponders, the same as those used by Tacoma Narrows Bridge commuters.

The Washington State Department of Transportation says during peak hour travel last week, about 1,100 drivers per day used the HOT lanes. The highest toll paid was $5.75, which was in… Read Full Post

 Police say there was nothing to indicate a crime.
Skeletal remains found Thursday at a construction site in the Renton Highlands likely belonged to a person who was buried more than 60 years ago on the property, Renton police reported.
Police excavated the property after an adult jawbone was found Tuesday while the developer was digging to connect utilities to new homes at 2209 Edmonds Ave. N.E. In their excavation, police found more remains, along with metal poles and brackets that likely were part of a casket, police spokeswoman Penny Bartley said.

"We believe these remains were no doubt a family member or a loved one of the property owners Typically we don't see crime victims buried in caskets."
The ornate pieces likely were crafted between 1910…

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