Washington State is Growing

Tuesday’s U.S. Census results revealed that the state of Washington has gained nearly 830,000 residents in the past 10 years. The results have both earned us a 10th congressional seat and the title of 13th most populous state in the U.S. We grew faster than 2/3 of the nation’s states, yet our growth rate per decade has decreased over the past 70 years. The 14% population increase makes us a state comprised of 6,724,540 people. This increase in population probably protected our real estate market from a an even worse downturn – yes it could have been worse. Hopefully, if our population continues to increase (which it is projected to do) we will see the real estate market improving. Not only could home prices stabilize, but we could see an increase in rental demand which means good things for landlords and property managers. Hopefully, these statistics will result in some positive changes in our local economy.

Property Crime Up in Seattle

The Seattle Times published an article yesterday on the FBI’s crime nation-wide that were released the same day. A national trend was a decrease in crime rates, but not in Seattle. Although violent crime was down in the city, property crime apparently rose in the beginning of this year. Property crime was up 5.5% from 2009’s statistics in the first 6 months of the year. Statistics indicate that there were 17,223 property crimes reported in the first half including burglary, larceny-theft and auto theft. Although the national decrease is a good thing, if you are a property owner in the Seattle area you many want to take extra precautions to help prevent crime in the future.

Vendovi Island Sells

The last time we wrote about Vendovi Island, we detailed the Island’s auction and unforunate lack of sale. Saturday, The Seattle Times released an article revealing that the Island has finally sold. After being on the market for over 2 years, the island was sold to The san Juan Preservation trust for $6.4 million. The Island will remain closed to public access while they take an inventory of resources and develop a management plan. San Juan Island residents raised nearly $3 million in donations and provided a $3.4 million bridge loan for the purchase. The Island which is primarily undeveloped, aside from a one, four-bedroom home, is a piece of land that will most likely maintain its environmental beauty.

Puget Sound Native and World Series Champ Buys Local Condo

Former University of Washington star and current San Francisco Giant, pitcher Tim Lincecum recently purchased a condo at Escala for over $1 million, according to the Seattle Times. The Puget Sound native has won two Cy Young awards, which is given to the best pitcher in each league and World Series in the short period of time that he's been a professional baseball player. It's nice to know that this amazing pitcher and possibly future hall of famer hasn't forgotten his roots and has used some of his baseball fortune to give the Seattle real estate market a small boost. As much as this hurts me to say since I am former Washington State University graduate, I am on the Tim Lincecum bandwagon so GO GIANTS!

Luxury Real Estate Expert John Brian Losh Speaks at Rainier Club

Downtown Seattle's historic Rainier Club hosts a monthly Real Estate Roundtable. The guest speaker for November's Roundtable was John Brian Losh, Designated Broker of Ewing & Clark Inc. and Chairman/Publisher of LuxuryRealEstate.com, the most viewed luxury real estate website in the world. Recognized as one of the "25 Most Influential People in Real Estate" by Realtor Magazine, Brian began his real estate career when he joined Ewing & Clark nearly 40 years ago in 1971. John Brian Losh spoke about the luxury real estate market in the Greater Seattle area and the histories of different neighborhoods including those of West Seattle, Downtown, Belltown, Madison Park, Broadmoor, Capitol Hill, Queen Anne, Laurelhurst, The Highlands, Bellevue and Mercer Island. Brian drew from his experiences as well as his knowledge of the local history to give insight on the luxury market in Seattle. For example, he showed illustrations of how the opening of the canal dropped the level of Lake Washington, significantly adding waterfront real estate to Lake Washington. For those of you that weren't as privileged as I was to have the chance to listen to John Brian Losh speak, then you may want to read about some of the things he discussed in his republished book Seattle Memories. The book is available for purchase on Amazon.com.

Capitol Hill Murder Leads to Mental Evaluation

One of the most recent incidences to be dominating headlines in Seattle is the November 22nd murder of Joseph LaMagno, who fell victim to a fatal attack in the Capitol Hill neighborhood. LaMagno was attacked on 14th and E. Union Street by a stranger, Michael LaRosa, who approached Lamagno and struck him in the head with what was described by witnesses as a pick-ax. SPD later determined the weapon to be a hatchet when it was found nearby. The 26 year-old LaRosa, who had left a grocery store at the same time as Lamagno, attacked him around 10:30 am that morning. LaRosa fled before police tracked him, finding him in an alley near the scene. Although there were numerous witnesses, whether or not there was a verbal exchange nor the length of the attack could not be determined. LaRosa had been previously booked three times this year under charges of assault and domestic violence, the latter in connection with a recent ex girlfriend who now has a restraining order. According to the ex-girlfriend, LoRosa has a history of mental instability which coincidentally is now his biggest defense in this latest case. LoRosa’s defense attorney has requested the arraignment to be postponed until he is mentally evaluated by state health experts. LoRosa’s half-brother told The Seattle Times that Michael was diagnosed with paranoid schizophrenia over ten years ago and was no longer being medicated when the attack took place. LaRosa was also on probation, but the Seattle Municipal Court declined to comment on probationary supervision. LaRosa’s arraignment date is rescheduled for December 28th.

See one of many articles on LaRosa from The Seattle Times here.

Century-Old Businesses

The Seattle Times recently released an article profiling three Seattle-based businesses that have managed to survive for over a century. The three, among only about 100 companies over a century old, are credited for their long-standing according to three traits: 1. It’s all in the family. 2. Stable management and long time employees. 3. Ownership of property on which the company sits. According to this description, it’s no wonder that Ewing and Clark has managed to stay around this long in the competitive real estate brokerage business. Ewing and Clark got its start in 1900 on the foundation of Calhoun, Denny, and Ewing which began in Seattle in the 1880s. Ewing and Clark, Inc. is owned by Chairman John Brian Losh, who started with the company almost 40 years. After gradating from the University of Washington, Losh bought the company from the third generation Ewing known by his nickname: Bud. Losh recently passed on the role of CEO to son, John Casey Losh, in October of this year. Casey joined the company in 2004 after he had a five year tenure as a tax consultant with Deloitte here in Downtown Seattle. The familial ties don’t end there. Both father and son have spouses working within Ewing and Clark, Brian’s wife Betsy who is a managing broker at our Madison Park office, and Casey’s wife Kristine, who is also at the Madison Park office. A number of other employees within Ewing and Clark have known the Losh family since childhood and are loyal to the company’s long-standing traditions as well. We hope Ewing and Clark and other century-old, family-owned companies continue to thrive!

Congratulations to Nelson Trucking, Manson Construction and Mutual Materials.

Sincerely,

Ewing & Clark, Inc.- "Real Estate Service Since 1900"

Seattle Home Prices Drop

Standard & Poor’s Case-Shiller index provides the public with statistics on home prices across the nation. The Seattle Times featured an article on the latest index, released on Tuesday, Nov. 30th. The index showed a nation-wide home price decline by .7%, and Seattle was one of 18 cities that had monthly price declines. The Greater Seattle area, including King, Snohomish and Pierce counties fell .6% in the month of September. In the past year as of September, Seattle area home prices dropped 2.6%. Experts believe this is directly linked to economic factors such as high unemployment rates and lending standards. Foreclosures also play a role in the drop. To see full indices, please visit the website.

Arthur Erickson Home

Notable Canadian architect Arthur Erickson, who passed away last May, was known for designing some of the most significant buildings, both residential and commercial, in Canada and on the West Coast of the United States. One of Erickson’s designed residences lies in the Seattle/Shoreline neighborhood of The Highlands. This home, listed by Ewing and Clark agents Jane Powers and Betsy Terry, is featured on his website. Titled the Pacific Northwest House, the masterpiece is a masonry home located on an 8-acre forest and was designed in 1977. The home has stunning interior and exterior features, including a James Cutler guesthouse. The home is currently listed for sale at $6,900,000.