Seattle Bubble

• Poll: You win the lottery tomorrow. What’s the earliest you buy a house in the Seattle area?
• Poll: What characteristic of a home is most important to you?
• Poll: You would like to buy a house in the next…
• Poll: Would you consider buying a home closer-in due solely to today’s higher gas prices?
• Poll: Do you personally know someone that has bought Seattle-area real estate as an “investment”?

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74 responses so far ↓

• 1 vboring // Jan 28, 2008 at 10:27 am

  based on these votes, it is pretty clear we are:

  white,
  25-35 years old,
  reasonably well off or well employed,
  politically liberal,

  that is what i see in north seattle, anyway. in ballard and fremont, anyway. QA & Magnolia look older and better off, but otherwise about the same.

• 2 Joel // Jan 28, 2008 at 10:43 am

  Mercer Island. Then I can sell it, buy a house somewhere else and pocket the difference.

• 3 Saul // Jan 28, 2008 at 11:22 am

  Does Downtown include all of Central Seattle? ‘Downtown’ conjures up a much different mental image than Capitol Hill, Judkins, or Madison Valley. I wouldn’t dare live in Pioneer Square or Belltown, but would love to live on Millionaire Row!

• 4 AndyC // Jan 28, 2008 at 11:29 am

  I think I’d definitely go for Queen Anne or Magnolia. They are close enough to everything, yet escape a lot of the traffic congestion.

• 5 geon // Jan 28, 2008 at 11:36 am

  I chose West Seattle/South, even though more spicifically would have been Burien (Seahurst/Three Tree Point) or Normandy Park. Close behind would have been Mercer Island, because my wife works on the island. There’s some value on the island: http://www.johnlscott.com/propertydetail.aspx?GroupID=57850491&ListingID=31311104

• 6 brettro // Jan 28, 2008 at 11:55 am

  why would you want to live in a neighborhood with only 3 trees?

• 7 newbie // Jan 28, 2008 at 12:04 pm

  Im with Joel….the most valuable home i could get. Then sell it and probably move out of the city!

• 8 Alan // Jan 28, 2008 at 12:16 pm

  Medina or Hunt’s point. Right on the water.

  Or possibly Mercer Island?
  http://redfin.com/stingray/do/printable-listing?listing-id=1176513

  Then I would sell it.

  Yes, I know I am violating the spirit of the poll. Still, I expect prices to fall and would rather no have even “found” money in a depreciating asset.

• 9 David McManus // Jan 28, 2008 at 12:23 pm

  
  “Or possibly Mercer Island?
  http://redfin.com/stingray/do/printable-listing?listing-id=1176513”
  

  Anybody know whose home that is/was? Something tells me it’s someone who put a little more than zero down and can actually AFFORD it. Like….real rich, not faux rich.

• 10 Scotsman // Jan 28, 2008 at 12:38 pm

  Guy who owns the above house made his money managing retirement homes and healthcare facilities for older folk.

• 11 David McManus // Jan 28, 2008 at 12:43 pm

  Very interesting that it’s been on the market for 130+ days. Perhaps 34 million is a bit pricey even for the real rich.

• 12 geon // Jan 28, 2008 at 12:49 pm

  Maybe he can bill it to medicare.;)

• 13 Ubersalad // Jan 28, 2008 at 12:51 pm

  Medina/Hunts Point hands down. If you vote for anywhere else, you obviously don’t know Seattle market.

• 14 Cougar // Jan 28, 2008 at 12:51 pm

  At that point in my life~
  http://www.cbbain.com/PropertyDetail.aspx?GroupID=33525036&ListingID=9078072
  Included are; Private jet, chef, maid, butler, yacht, grounds keeper, personal trainer - all mine!

• 15 EconE // Jan 28, 2008 at 1:01 pm

  Either there are quite a few people with NO imagination that answered this poll…well…except Alan!

  I’ll take the Roland Terry designed house at the tip of Hunts Point please. Then I’d sell it.

  I can’t quite understand who would pick some of the other areas. Maybe Realtors that represent those areas? I certainly wouldn’t take a downtown condo (even though I rent one) as I’d never be able to sell it.

  Gotta be a trophy property…because even selling it at 80% off would net millions.

• 16 David McManus // Jan 28, 2008 at 1:02 pm

  No doubt, I answered Mercer Island or on Lk. Washington. What’s wrong, is everyone scared of the water?

• 17 Ubersalad // Jan 28, 2008 at 1:12 pm

  Unless free house comes with tuition reimbursement as well, I don’t think I can afford private school tuition living in Seattle. Free house in Seattle = horrible choice.

• 18 Alan // Jan 28, 2008 at 1:23 pm

  By the way, the property tax on that Mercer Island “home” is going to run around $340k a year. I’d have to sell it quickly.

• 19 Buceri // Jan 28, 2008 at 1:26 pm

  That $34mil house was in the market about 3 years (my wife sent me the link). I want to believe that the asking price back then was $60mil; but I can’t remember. Same pictures anyway.

• 20 sf_boomerang // Jan 28, 2008 at 1:34 pm

  I love that the $34 million place includes “cable TV” in its list of amenities. I understand the need to be thorough and all, I’m just picturing the billionaire perusing real estate ads…

  “Yes! It has cable! I am so THERE!”

• 21 Olaf // Jan 28, 2008 at 2:19 pm

  Ubersalad — there are some bad public schools in Seattle, and then there are some very, very good ones. You just have to know how to play your cards right. I’d much rather have my kid in one of the advanced-placement programs in the Seattle schools, where she’ll learn about more than parties, new cars and shopping malls.

• 22 Ubersalad // Jan 28, 2008 at 2:47 pm

  Test score speaks for itself in the Eastside districts. I rather not having to “play my cards right” to get a decent education.

• 23 NotaBull // Jan 28, 2008 at 3:01 pm

  “I’d much rather have my kid in one of the advanced-placement programs in the Seattle schools, where she’ll learn about more than parties, new cars and shopping malls.”

  There’s a reason that families move out to the Eastside to send their kids to school. It’s because the schools are better and the environment is a safer one for your kids to grow up in. You, and I, may not want to live in Klahanie in Issaquah, but if I was a parent I’d seriously consider moving to a neighborhood like it. I mean, they even have a security guard that drives around the place!

  I’m with Ubersalad on the playing of the playing of the cards….

• 24 Jess-Pumpkin // Jan 28, 2008 at 3:06 pm

  I said North Seattle because many of us still work in the downtown/UW area. Free house doesn’t mean free ride — still have to work! ;-) If you want water, Matthews Beach area is pretty nice and a bit more down-to-earth.

• 25 Mama // Jan 28, 2008 at 3:08 pm

  “Anybody know whose home that is/was? Something tells me it’s someone who put a little more than zero down and can actually AFFORD it. Like….real rich, not faux rich.”

  He he…I had the same question — you can lookup the parcel info — it’s a pretty big parcel so pretty easy to locate — daughter of the owner of Schucks auto and a bunch of other stores.

• 26 AndyC // Jan 28, 2008 at 3:14 pm

  I think that the spirit of the poll was, “Where would you live if money were no issue?” In that instance, I would never choose to live on Mercer Island or in Medina.

• 27 Erik // Jan 28, 2008 at 3:17 pm

  Being from east Magnolia/Interbay, I’d probably prefer a free house from there (assuming that the spirit of the poll calls for residency rather than sale). I’d be especially tickled to get my childhood home back.

  Having said all of that, I’m in the same boat as Jess-Pumpkin, or at least the same flotilla. Even if I got a free house, I’d still have to work, and work for me is south of the city, so I chose South Seattle. Pierce County or Thurston County would probably have been more practical, but, hey, if it’s free I can afford a crash pad in the South Sound.

• 28 Mama // Jan 28, 2008 at 3:17 pm

  sorry, posted too quickly — one I meant is still on Mercer Island but 400K less (has most of the same extras though), in case you’re a little short on the downpayment

• 29 Ira Sacharoff // Jan 28, 2008 at 3:20 pm

  I’ve gotten lost in Hunts Point/Medina. people were looking at me like “he doesn’t belong here, and that car of his! That’s no late model Lexus.”
  Mercer Island is at least a little more diverse.

• 30 Ubersalad // Jan 28, 2008 at 3:29 pm

  That’s only if you’re visiting. No one cares what you drive if you actually live there. I would have no shame to drive an ‘88 Corolla if I own a house there.

• 31 Matthew // Jan 28, 2008 at 3:53 pm

  Lake House on “The Rock” aka Mercer Island or Penthouse downtown.

• 32 Faster // Jan 28, 2008 at 4:24 pm

  I’d take one of those massive view homes on the South slope of Queen Anne. I love the proximity to downtown and the views can’t be beat.

  If it was simply a matter of finding the most expensive home, then I’d just find the most expensive home in the Puget Sound. If I’m just going to “flip” the house for the cash, then I wouldn’t care if that was in Seattle, Bellevue, or anywhere else

• 33 You Big Weirdo // Jan 28, 2008 at 4:34 pm

  My vote for “Downtown” means north Capitol Hill, just south of the park.

• 34 John // Jan 28, 2008 at 5:39 pm

  If I have kids and money to burn, I’d be sending them to Exeter (if they can get in) or any one of those top boarding schools in New England. Local schools? I don’t think so!

  As for the free home, it must have views of water and mountain, close enough to downtown and all the nice restaurants. Lake Washington, Madrona, Magnolia…something like that. I am not a big fan of Eastside because it is basically a ‘burb.

• 35 common1sense // Jan 28, 2008 at 5:50 pm

  Hell, I am white, middle aged, college graduate, and NOT liberal. Greenlake has my vote.

• 36 jon // Jan 28, 2008 at 6:26 pm

  “any one of those top boarding schools in New England. ”

  Problem is it is harder to get into the top universities from those. Those schools max out their quotas pretty quickly, so you end up in the same place as before. It’s fine if you are there to make connections, that’s another story.

• 37 John // Jan 28, 2008 at 7:16 pm

  jon, I am not sure that is the case. Considering how rigorous their curriculum is, a 3.7 GPA from those schools has to be worth more than that from most public schools. Maybe their quota to Harvard is 6 to10 a year, that is still a lot more than what most schools will get. If the kid is the bottom half of his class, he isn’t going to get in anyway.

• 38 disbelief // Jan 28, 2008 at 8:30 pm

  Scotsman said,

  on January 28th, 2008 at 12:38 pm

  “Guy who owns the above house made his money managing retirement homes and healthcare facilities for older folk.”

  Assuming this is true, does anyone else find this disturbing?

• 39 disbelief // Jan 28, 2008 at 8:32 pm

  “If I have kids and money to burn, I’d be sending them to Exeter (if they can get in) or any one of those top boarding schools in New England. Local schools? I don’t think so!”

  OK Thurston, whatever you say :-)

• 40 magnolia44 // Jan 28, 2008 at 8:57 pm

  Went to a wedding lots of Exeter alumni, yeah the kids all went to good schools and have good careers but not my kind of crowd.

• 41 magnolia44 // Jan 28, 2008 at 8:59 pm

  PS. i would take my experience at my 3,000 student racially mixed southern calif. high school over a boarding school any day. The wife and I do well and the kids will be at a public school here in Seattle when that day comes.

• 42 Madrona // Jan 28, 2008 at 9:18 pm

  I’d move right to where I live now. Madrona, USA. 15 minutes from Downtown during rush hour. 20 minutes from Bellevue during rush hour. 25 minutes from Redmond during rush hour. Great views, great neighbors.

• 43 John // Jan 28, 2008 at 9:19 pm

  magnolia44, these schools might not be racially diversed 30 years ago but they are now.

• 44 jess-Pumpkin // Jan 28, 2008 at 10:40 pm

  Hi John,

  Are you saying that Seattle Public Schools are more diverse now? If so, I have to disagree. I’m a product of SPS, graduated high school in the late 80s, and every school I attended was less than 50% white. My high school was only 20% white. Yes, I was bussed all twelve years, but I sort of look back on it fondly. When my son was in a SP school a few years ago, the school was something like 90% white. There’s more diversity at his current Catholic school, if you can believe it.

• 45 Runs With Scissors // Jan 29, 2008 at 4:25 am

  Heck, I would still live in Kent, and that way continue to have no commute to work and an additional 8-10 hours of free time over my co-workers. I would not have to worry about the house as an investment, as it’s free right?

  Then again, San Juan County was not listed in the survey :-(

• 46 Batman // Jan 29, 2008 at 6:22 am

  “Or possibly Mercer Island?
  http://redfin.com/stingray/do/printable-listing?listing-id=1176513”

  For $34 million it better come with a “Bat Cave” and a butler named Alford.

• 47 David McManus // Jan 29, 2008 at 6:35 am

  A note on education:

  Just from personal experience interviewing, I’ve found it doesn’t make a golly bit of difference where you went to school, but the quality of your education. If I ask the Harvard grad questions and he’s not sure of the answer, yet the WSU grad is answering most of them, guess who I’m going to hire? I also have never asked, nor been asked what my GPA was. Employers actually care about the 10 years real-world experience rather than what I got in my Assembly Language or Electrical Engineering class 15 years ago.

  Just my 2 cents,

  David

• 48 notabull // Jan 29, 2008 at 6:57 am

  “25 minutes from Redmond during rush hour.” (with reference to Madrona)

  I live in Madrona too. It may be 20-25 minutes in the morning, even in fairly heavy traffic. But the commute back varies HUGELY depending on when you leave. If you leave Redmond at about 4, it commonly takes 30 or 40 minutes. Leave at 5 and it’s more likely to take 45 minutes to an hour.

  520 is horrible, but not as bad as some make out. If you’re able to leave by 6:30am and get out at 4pm, then it’s ok.

• 49 Lake Hills Renter // Jan 29, 2008 at 9:29 am

  If I still had to work, I’d probably take something in the rural Preston/Fall City area. I’d be as far out in the country as my cmmute would allow. If the house money came as part of retirement money, I’d either move up north (Rockport, Marblemount, etc) or down near Rainier - I haven’t decided yet. Nothing big, just a nice little 2-3 bedroom on a few wooded acres, ideally.

  These are the same plans I’m working toward without magic money falling into my lap.

• 50 Ubersalad // Jan 29, 2008 at 11:42 am

  “If I ask the Harvard grad questions and he’s not sure of the answer, yet the WSU grad is answering most of them, guess who I’m going to hire?”

  What did you ask, who is Britney Spears’ current boyfriend?

  School matters in this competitive world, if you believe otherwise, you probably went to a lesser school.

• 51 David McManus // Jan 29, 2008 at 11:50 am

  Um, speaking as a technology director at a large successful consultancy, no it doesn’t. Where did you go? The esteemed University of Washington, the greatest university ever?

• 52 notabull // Jan 29, 2008 at 11:57 am

  “Um, speaking as a technology director at a large successful consultancy, no it doesn’t.”

  I agree.

  Maybe in some lines of business the school thing is important, especially when you come straight out of it. However, in technology I have hired dozens and interviewed many hundreds of candidates. Assuming they *have* a BSc in something computer related, I’m much more concerned with their experience and their intelligence than anything else.

  Intelligence and attitude are my two top things I look for. Then it’s experience (especially if I’m hiring for a senior/lead position). Then it’s school…

• 53 Ubersalad // Jan 29, 2008 at 12:04 pm

  Of course experience matters, but I am assuming he’s comparing someone with similar experience. Comparing different experience level is like comparing apple to orange.

  Comparing Harvard to WSU is far fetch. I can sleep through WSU classes and graduate with honor.

• 54 David McManus // Jan 29, 2008 at 12:11 pm

  So you’re suggesting that of 2 candidates with 10 years of experience, one of whom went to Harvard and can barely answer my questions competently should be chosen over a WSU grad who nails them all?

• 55 Ubersalad // Jan 29, 2008 at 12:12 pm

  schools have everything to do with attitude and perhaps maybe to a lesser degree with intelligence. you don’t get into ivy league schools by doing less than your peers, unless of course you are someone of great importance.

  this fact is given, school puts you a step ahead, and the rest is up to you. so yes, where you go to school does matter and more than likely will shape your career.

• 56 Ubersalad // Jan 29, 2008 at 12:13 pm

  you’re suggesting that Harvard graduate with same experience as WSU graduate cannot answer your question, but WSU grad can?

  Like I said, were you asking who Britney’s current boyfriend is?

• 57 David McManus // Jan 29, 2008 at 12:17 pm

  “you’re suggesting that Harvard graduate with same experience as WSU graduate cannot answer your question, but WSU grad can?”

  Yes, we did have this situation 3 weeks ago. Should we have hired the Harvard grad? And yes, he did graduate from Harvard because we are one of the few firms that actually verifies education on applicants’ resumes.

• 58 Ubersalad // Jan 29, 2008 at 12:21 pm

  How about this, let me rephrase it. “in most cases, Harvard graduate will perform better than WSU graduates with similar experience level.”

  Bottom line is still, where you go to school puts you a step ahead.

• 59 David McManus // Jan 29, 2008 at 12:34 pm

  My opinion is:

  I don’t care where you went. Just have a degree, be driven, and have job-relevant experience.

• 60 Ubersalad // Jan 29, 2008 at 12:50 pm

  If you require a degree, then it should matter where it’s from.

  It’s like comparing restaurants, better restaurants create better food.

• 61 Ubersalad // Jan 29, 2008 at 12:51 pm

  ps, this avatar crap is making this forum more of a joke.

• 62 David McManus // Jan 29, 2008 at 12:56 pm

  Tim,

  Where can I set my avatar?

  -David

• 63 David McManus // Jan 29, 2008 at 12:59 pm

  “If you require a degree, then it should matter where it’s from.”

  And who defines if a university is good or not? Everyone around Seattle likes to salivate over the UW, but I personally believe that unless you’re going for a professional degree like medicine and maybe law, there is really no difference between UW / Oregon / WSU, etc. My wife is a Husky and let me tell you, I saw some of the crap she had for her assignments and my first reaction was “I thought they were supposed to be a top-tier university.” And no, I’m not a Cougar, so don’t think that I’m automatically biased.

• 64 Ubersalad // Jan 29, 2008 at 1:05 pm

  Given choice, how many would choose WSU or Oregen over UW. If you say Western for smaller class size, I might be more inclined to agree.

  However, there’s a reason why UW requires higher GPA and SAT score to enter than Oregon and WSU. know several people that have been accepted to WSU with around 2.5 GPA from local community college. If you think your wife’s assignment is a joke, you should see WSU/Oregon assignment.

• 65 David McManus // Jan 29, 2008 at 1:07 pm

  So…..WHO defines if a university is good or not? Someone’s personal opinion? I think a Sociology graduate at the UW has less of an education than someone who graduated in Vet. Medicine from WSU.

• 66 David McManus // Jan 29, 2008 at 1:08 pm

  And to stay on topic…..the UW grad would select Montlake for their free home, while the WSU grad would select Medina. ;-)

• 67 The Tim // Jan 29, 2008 at 1:10 pm

  David, see the little box above the comment entry field.

  Ubersalad, I’m not necessarily going to keep the default set to the photo of my dog. I might go to one of those boring head profiles with a question in it or something if people really don’t like the dog.

• 68 Ubersalad // Jan 29, 2008 at 1:11 pm

  David, somehow I don’t think you’re quite familiar with these schools. School of vet medicine in WSU is tier one, perhaps one of the best in this region. You are still comparing apple to orange. If you compare most departments of UW to WSU, UW is better hands down.

• 69 Ubersalad // Jan 29, 2008 at 1:12 pm

  who defines if an university is good or not? I would say SAT score, GPA, graduate success rate, overall performance.

  on average, UW graduate will perform better than WSU graduate.

• 70 David McManus // Jan 29, 2008 at 1:13 pm

  
  “David, somehow I don’t think you’re quite familiar with these schools. School of vet medicine in WSU is tier one, perhaps one of the best in this region. You are still comparing apple to orange. If you compare most departments of UW to WSU, UW is better hands down.”
  

  Defined.
  By.
  Who?

• 71 Ubersalad // Jan 29, 2008 at 1:14 pm

  seriously, read the statistics…google it or something.

• 72 Ubersalad // Jan 29, 2008 at 1:17 pm

  never mind, I give up. good luck with your kids and their WSU education.

• 73 David McManus // Jan 29, 2008 at 1:21 pm

  I assume you went to UW.

• 74 John // Jan 29, 2008 at 6:54 pm

  I agree with Ubersalad even though I don’t think Bellevue is all that. People want to go to certain schools because of name recognition and access.

  Many investment banks, consulting firms, and technology companies only conduct interviews at these top schools. If you have good grades, you will get an interview. If you go to a less prestigious school, you are out of luck unless you are extremely persistent, extra special or graduate at the top of your class. The technology field is probably more open to schools of all kinds. But still, top schools open more doors.

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