It is well past time for another new round of “Guess the Price.” Here’s how the game works. I’ll describe a home that’s currently on the market, giving you as many pros and cons as I can, and you guess what the final sale price will be when/if it sells.
Be sure to enter your real email address into the form when you leave your guess in the comments, because the winner gets a $25 gift card to the restaurant chain of their choosing. Don’t worry, I’m the only one that can see the emails that are entered. The winner is the person whose guess is closest to the final sale price, above or below. If there is a tie, whoever guessed closer to the correct closing date will be declared the winner.
Contest closes to entries at midnight the morning of September 23rd, or when the home goes pending, whichever comes first. Note that in Round 6 the home went pending in 4 days, and in Round 5 it was just a few hours after the contest opened, so I recommend getting your guess in early.
Today’s “Guess the Price” guest star is 3015 64th Ave SW in West Seattle.
This round’s home hit the market last Wednesday with an asking price of $529,000. It last sold almost 13 years ago in November 2000 for $320,000, so today’s asking price represents average annual appreciation of just under 4 percent. For reference, the Case-Shiller index for Seattle has gained roughly 3 percent per year over the same period, a rate that would put the current value of this home at $475,000.
Our home this month is not bank-owned, a short sale, or a flip. It sits in the far west corner of West Seattle‘s Alki neighborhood, where the median price of single-family homes sold in August was $617,000. Here’s an excerpt from the listing agent’s description:
Sited JUST ONE HOUSE from the beach & in the Alki School zone, the location can’t be beat! This charmer w/ view front porch & sun room has all the classic character of its era. Featuring original hardwood floors, 2 bay windows, period-correct mouldings, copper plumbing, upgraded 200 Amp breaker box, and gas appliances!
Built in 16, this 1-story home (with basement) sports 2 bedrooms and one full bathroom. Both of the bedrooms are on the main floor, while the basement is mostly unfinished, containing a “Den/Office” and “Bonus Room,” according to the listing.
According to the King County Department of Assessments, 1,300 of the home’s square feet are above ground, with an additional 1,080 in the basement. Note that the MLS listing is displaying the square footage as 2,380, which includes the entirety of the unfinished basement. This misleading information is built by design into the NWMLS system.
Inside, the home looks to be in decent, but not amazing condition. Many of the original period details remain, as noted by the listing agent, although “original hardwood floors” look like they probably need to be refinished. For some reason the trim in the main rooms on the first floor suddenly switches at one point between rooms from the original hardwood to white boards.
The kitchen looks like it has plenty of counter space, but a limited amount of cabinets. The countertops and appliances in the kitchen look like they were replaced in the ’90s or early ’00s. The cabinets are probably older than that, although they appear to have been painted somewhat recently.
Off the back of the home in lieu of a yard there’s a deck, complete with a hot tub. Unfortunately, neither is covered, so I wouldn’t expect to get much use out of these features during the wet half of the year.
The exterior of the home appears to be in decent condition. From the photos the paint looks relatively new. There is virtually zero yard to speak of, but the tiny little strip around the home appears to be well-landscaped. The listing also notes that this home provides no off-street parking.
Two different Redfin agents have been to see this home and published public insights. Joe Hunt noted that “both the front and back of the home appear to have been added on or enclosed” and that “cosmetic and system upgrades needed.” Elisa Reuhlmann said that the home has a “great floor plan.”
Overall, both the house and the location seem nice, but not amazing. Based on what other similar nearby homes have been selling for the asking price seems like it might be a bit high to me. There are just 10 houses for sale in Alki right now, so they may be banking on a continued supply shortage to carry the high price.
Summary of 3015 64th Ave SW
- close to Alki beach
- nice period details
- central heating
- well-kept exterior
- good floor plan
- deck with hot tub
- no yard
- no off-street parking
- limited kitchen cabinet space
- hardwood floors are worn
- deck and hot tub are uncovered
So, what say you? How much will this home sell for, and when will it sell?