Belltown Condo Rental: $3,300

This beautifully appointed 2 bedroom condominium in the desirable Belltown neighborhood is available for rent. This large 2 bed 2 bath unit in the Bellora Condominium features hardwood flooring, a beautiful open kitchen and an open living area perfect for entertaining. The unit has a ton of huge windows, giving an abundance of natural light, and there is a sizable fireplace that can be seen from both the living room, and the master bedroom. The master has a luxurious 5 piece bath, and there is also a den, and one secured parking space. If you’re interested in this listing or other Seattle rentals, contact your local real estate agent today.

Status:	For Rent
Bed/Bath:	2//2
Price:	$3,300

Renter Competition is Stiff: Come Prepared With Renter Application Packet

These days Seattle rentals are few and far between, and in our competitive rental market bringing your checkbook ready to cash in the deposit no longer puts you on the top of the applicant stack. In other popular cities like San Francisco renters arriving at showings can expect a long line of other applicants already waiting at the door, so if you’re looking to be one step ahead of the game, putting together a renter application packet could be be your ticket to a new rental.

Downtown Seattle Rental: $4,500/Month

Get the following documents prepared before your rental showing:

• A copy of your ID: either a driver’s license or passport

• Proof of employment: A pay stub will suffice, but if you can get a letter from your employer confirming your employment that would be beneficial.

• Pay stub: Several landlords have minimum salary requirements, so having at least 3 of your most recent pay stubs is important.

• A bank statement: Having a bank statement available that indicates you are financially stable and capable of paying rent could be the difference between you and someone less prepared.

• References: Have a list of references, past landlords, past neighbors and business partners is a great way to enphasize that you are a responsible tenant.

• Rental Application, and fee: This is most important if you’re able to request the application prior to the showing. Some property management websites have these available for prospective tenants, and also having a check handy for the application fee will indicate your preparedness.

Make sure that you double check all of the application requirements prior to your showing if available, and don’t forget to bring your checkbook along with your completed renter application packet. Good luck on your rental hunt! If you’re interested in Seattle rentals, contact your local real estate agent today!

Downtown View Rental Available: $1,700

This lovely one bedroom unit in the Newmark Tower is now available, with expansive views of Downtown Seattle. Recently remodeled unit new to Pike Place Market, featuring floor to ceiling windows, with stainless steel  oven and dishwasher, and washer and dryer in unit. The quaint kitchen has granite counter tops and bamboo flooring, and there is a small private deck off of the living area. This unit has a large bedroom, and a sizeable closet, as well as parking and storage included in the price of rent. Building amenities include 24 hour concierge, an indoor swimming pool, sauna, entertainment room, a fitness center, and a large common roof top terrace, perfect for beautiful summer nights. For more information on this unit, or other Seattle rentals, contact your local real estate agent today.

Status:	For Rent
Bed/Bath:	1&1
Price:	$1,700

Walton Loft Apartments Coming to Belltown

The Schuster Group has scooped up land on the corner of First and Vine, and is planning a 132 unit 12 story apartment complex, with 75 underground parking stalls. Walton Lofts will be right across the street from the Millionaire’s Club, Bang Bang Cafe, and a hop skip and a jump to the Belltown Cottage Park (which played a role in the building’s design process) and Rudy’s Barber Shop.

Photo courtesy of the Schuster Group

The land is currently a parking lot at the corner of Vine Street, and VIA Architecture and Shoesmith Architects are the building designers. Vine street has been designated a “green street” along with 16 others around town, non arterial roads that are designated to providing pedestrian gathering spaces, and more trees and landscaping than other city blocks. Walton Lofts is planning to have trees and shrubs on site, and wider sidewalks along Western to create more hang out areas. For more information on the project, visit the Daily Journal of Commerce.

How is Your Cost of Rent Determined?

There are several factors that come into play when owners, landlords, and housing boards decide how much to rent a particular space for. In Seattle it can be assumed that since inventory is low, the cost of rent is rising and will continue to do so for the next few years. The Seattle Transit Blog has an interesting take on how your rental price is determined, and why that price was decided maybe even before your apartment was built!
According to Seattle Transit, construction costs, and debt accumulated are taken into consideration, as well as what the market will hold when determining the set rent. They suggest that the cost of rent is decided before the unit is finished being built. There is a supply and demand factor in the housing price decision. If inventory is low, rent is high, but if there is a surge in construction maybe the quality of housing will decrease and renters will wind up eating extra costs. Seattle Transit suggests that if all goes well in the construction process, and attracts prospective tenants, we should be seeing an increase in supply and lower costs in housing production. Read the full story to gain a better understand of all the bells and whistles that come into play when deciding that final rental rate. Understanding that there are many factors at hand and wrapping your head around what those factors are should open the flood gates for new ideas to cut costs for renters and builders alike.

Pioneer Square Board Aproves 25 Story High Rise

The rumors circulating around downtown are true; the city board who has been in charge of keeping the historic presentation of Pioneer Square afloat, cast their votes and approved the modern sleek design of a 25-story apartment high rise just North of the Sodo stadiums. The all glass and steel tower will be sectioned into 2-4 story boxes, that will be positioned at varying angles. The building is part of a larger project named Stadium Place, in what previously was the North Parking Lot of Century Link Field.

Photo Courtesy of the Seattle Times, ZGF Architects

The collaborative developers Daniels Real Estate and R.D. Merril released the design the the public back in December and were met with mixed reviews, some stating that the design was far too modern to fit in with the historical appeal of Pioneer Square. But most members of the Pioneer Square Preservation Board actually had positive reviews of the design, and were all in agreeance with the new construction. The “South Tower” would be just a little shorter than the stadium, at 240 feet tall, and will have 333 units. Other projects are in the planning stages for the first phase of Stadium Place, such as a 20 story condo tower, and an office and hotel tower as well. For more information on these apartments, visit the Seattle Times.

Survey Indicates Renters Are More Optimistic About Buying

Renters in today’s market may have seen the value of their parent’s homes sky rocket, then deplete, or they most likely know someone who’s home is up for foreclosure. According to a survey done by the PulteGroup, The hope of home ownership is still in the air for many who rent and want to buy. Survey results showed that 60% of renters who said they would like to buy a home in the future have increased their intent to buy a home in comparison to a year ago. 61% of those folks also said they planned to purchase a home within the next two years.
When asked if they thought buying a home was a good investment, 44% of those poled said yes. According to Builderonline.com, the PulteGroup’s responded to the overall survey results with “We are seeing a renewed sense of optimism, especially from young professionals and young families visiting our communities nationwide,” Deborah Meyer, PulteGroup senior vice president. Many factors went into this survey and interestingly enough the pole also found that just over 1/4 of those poled believe that renting is cheaper than buying, and a little shy of a quarter are still worried about a stable job. For more information on Rentals and For Sale listings in the area, visit Craigslist.

Rent Continues to Rise as Home Prices Take a Dip

Remember the days when renting was cheaper than buying? While rental rates continue to soar, in many states across the country, home prices are starting to level off. According to CNN Money, home prices have declined 0.7% over the past 12 months, and the median rent for all types of homes was set at $1,350/mo in March. Several metro areas are raising their rents into the double digits across the nation. For example, in Sarasota, FL the average rent rose 12.9% year-over-year,  making it the largest jump out of the 100 largest metro areas according to real estate site, Trulia.
Metro neighborhoods where prices skyrocketed were able to do so because of a few similar factors, including a rising demand for a limited supply of rental units. The overall national vacancy rate for apartment complexes, fell 0.3% during the first quarter, dropping to it’s lowest rate since 2001. In contrast, the cost of buying a home has decreased  in several areas over the past 12 months, and mortgage rates are at an all-time low. If you’re looking to buy in the Seattle area, here is a list of exceptional homes in the Seattle luxury real estate market.  Many are still skeptical of the optimistic outlook, because there is a high percentage of Americans who aren’t able to look into buying a home at this time due to unemployment, low credit scores, etc and rental rates could continue to climb because of this factor. For an extended article, please visit CNN Money.