Moving to SeaTac area. Looking for local advice.
I am moving my family to the SeaTac area and would really appreciate some helpful guidance from those who know the area.
I visited the area for the first time this Thanksgiving when I packed up and took a whirl-wind road trip to try to assess the area for a move. In the short time I had, I drove over as much ground as I could cover. Initially, I found I liked the Bonney Lake (Sky Island and South Hill) areas.
I wont have much time to scout out many more areas before I must move in the spring, so I thought I would ask for help to see if any other areas might be as good or better a match for what I am looking for. Also, any comments on the Bonney Lake area would be appreciated.
If you feel you know areas that meet my match, I would appreciate the help.
This is what I am seeking.
I visited the area for the first time this Thanksgiving when I packed up and took a whirl-wind road trip to try to assess the area for a move. In the short time I had, I drove over as much ground as I could cover. Initially, I found I liked the Bonney Lake (Sky Island and South Hill) areas.
I wont have much time to scout out many more areas before I must move in the spring, so I thought I would ask for help to see if any other areas might be as good or better a match for what I am looking for. Also, any comments on the Bonney Lake area would be appreciated.
If you feel you know areas that meet my match, I would appreciate the help.
This is what I am seeking.
-
Home with a great view (mountain or water). I love the mountain top concept.
Great Schools (Elem + Middle)
Family + Kids Activities
Newer housing and shopping areas
Abundant Nearby shopping, malls, restaurants, entertainment (Sub-Urban)
Work commute is NOT an issue- I can be anywhere
Best value for my money
Price range 450-550K
Prefer subdivision communities
Comments
That put you out of everything else you listed.
Ubersalad - not trying to flame here, but have you been to Bonney Lake? It's the back end of beyond, and total subprime land. I'd venture to say that $450k will get you a lot there this year, more next. Check out the zillow chart for the neighborhood over here at yahoo. looks like Miami.
IMHO South King and Pierce counties will be hardest hit by the downturn in terms of home values. I would not buy there today.
I dont really have the option of not purchasing somewhere. Rental is not a good option.
So, If not there, then where? I am looking for advice to help me locate other alternatives to Pierce and S King counties that fit my criteria.
Why can't you just rent? Is your employer offering to cover real-estate commisions? Do you have some large capital gain you want to sink into real-estate to avoid paying taxes?
In either case, just ask yourself if it will still have been worth it to buy if the property you purchase this spring drops 40% in value over the next 4 years. If you still feel it would have been best to buy a home that drops in value by a large amount (since prices are just starting to get ready for a major tumble as the coming recession gathers steam), then go right ahead and buy. However, I find it very hard to imagine that you could have a circumstance where it was preferable to lose 40% of a home's value instead of renting.
As far as renting goes, you can get amazing, high-end, places to rent at prices far lower than you could possible afford if you had to buy the place. Renting can be very pleasant indeed.
What I meant to say was, he wanted all this for 450-550k:
Home with a great view (mountain or water). I love the mountain top concept.
Great Schools (Elem + Middle)
Family + Kids Activities
Newer housing and shopping areas
Abundant Nearby shopping, malls, restaurants, entertainment (Sub-Urban)
Work commute is NOT an issue- I can be anywhere
Best value for my money
Prefer subdivision communities
And Bonney Lake is not exactly where I would recommend if you want those things above... If you want higher crime statistics and lesser schools, then sure.
Save your money and move to Eastside if you want some good schools and better environment altogether.
I was going to say this, but it sounds like he works from home and maybe it's very inconvenient to have to change your home business address after just one year.
This still sounds like a weak rationale for taking a bath on a house when you can live better (and cheaper) by renting. You can get a phone service like Vonage which easily moves your phone number with you wherever you go. There are also mail forwarding services that allow you to give a single address, and then just send on the mail to wherever you live.
Reading between the lines, I suspect renting isn't an option because of kids and pets.
Thanks all for the comments. This is a good start, but I think some of you may be focusing on how to not loose money in housing vs. how to get the best house, schools, and shopping for the money.
I am a house BEAR all the way. I have been renting for the last 7 years. And as such, I have rented 4 residences in that time while waiting.. and waiting and reading housebubble.com daily.
My wife and daughter (and I) want a house and do not want to move into another rental for an undetermined period of time just to be once again uprooted. People need stability and its time for me to purchase even if that means losing significant money. That being said, I want to purchase as smart as possible in this move. I can move anywhere in the country, and I am looking at Wa. for price, quality of life and state income tax benefits.
I also must purchase a home before I leave a stable and documentable income source. I will get a much better rate with the corporate job I have now as opposed to investment income after I leave. I am retiring from the workplace, and its better to secure a loan before I retire.
As I mentioned, commute is a non issue. I don't need to be near an office. An airport is nice to have within a 45 min drive.
So I am looking for the best place (as initially described) for the money and it just is no longer practical or even viable to wait for the bottom of the market.
I heard mention of Olympia. This initially seems further out from some of the culture I would like to be near (Museums, parks, city day trips), but I will check it out a bit more. Thank you.
Another mentioned Bellview: For the prices there, I would stay in the Silicone valley area and pay for a similar house since the price is not that disproportionate. Bellview seems too expensive. (No flaming migrating Californians)
Eastside? Is this Bellview to Renton? -- Once again too expensive. I want a big nice house that is not near the areas of high demand/low commute. I don't want to pay for a short commute I will not use.
I look forward to any more suggestions you may have. It seems many people feel Bonney lake and South hill are just way out in the boonies, I will give more consideration to that. When I was there, it seemed not too far away from either Tacoma or Seattle during non-commute hours.
How is the Gig-Harbor, Issaquah, or Lynwood areas? I have not really researched them, and that all the more reason to ask.
Any other ideas? Please keep the post going. I truly appreciate hearing the good and bad.
Issaquah is nice in a suburban type of way, although I don't think it's meaningfully cheaper than much of Bellevue (the 2 cities touch). As long as you stay away from rush hour it's a quick and easy drive to Seattle via 90, but you need to get further out than that if you want lower prices.
Maybe out there near Duvall and Carnation? These are all east of Seattle. Probably a bit more rural than you're looking for, but there are some subdivision type developments dotting the area.
I think the problem you're running into is that the area you're asking about isn't where this board is focused. From what I've seen here the focus is almost entirely on Seattle and the Eastside, not South King County. Fair or not, South King County doesn't have the best reputation. It's widely seen as having more crime and gang activity than either Seattle or (esp) the Eastside. I'd probably rather live North of Seattle than South.
You can get more information by searching and/or asking about SeaTac on the City-Data site.
http://www.city-data.com/forum/washington/
As I indicated earlier my primary whine is the time it takes to get to the airport. I moved here from Portland, where I could get to the airport in 20 minutes, so my expectations may not reflect that of others. Also, there is no ferry service between about 1 am and 5 am, so if you get delayed it is a PITA.
The major issue is diversity... most residents are professionals who work in downtown Seattle and it seems that lawyers the most common of those. The kids say it is boring so school sports programs are very popular.
If you are working via the Internet, no problem. If you need to meet regularly with clients/customers in Belleview (take the car on the ferry) it's not suitable.
While many think home are expensive on the Island, I think you can find suitable homes in your price range. (FYI, I am not in any way connected to the housing industry).
I would stick with Eastside, try Snoqualmie/Issaquah/Preston/North Bend area. They're not too bad.
This is the exact same boat we are in, and now our rental house is falling down around us (one bathroom has been condemned, one of three bedrooms is uninhabitable due to the flooding last month so now the kid sleeps in the office bedroom, etc etc). I've said it before and I'll say it again, renting in the city of Seattle sucks! -- especially if you have a child, pets, and good jobs & income (landlords don't trust you, think there's something wrong with you that you want to rent instead of buy -- at least that was our nightmare summer '06). And our rent is only about $500 less than a future house payment would be if we could buy for $625K or less. Some of us are serious buyers who read this blog/forum in order to make informed decisions, walk softly and carry a big stick for when the right opportunity comes along. Not everyone buys real estate for the get-rich-quick investment schemes. Some of us want a stable house to live in for the next 10+ years.
OK, I'm better now ~ cheers
Well, as a renter myself I too look forward to buying a nice house (that also doesn't put me in hawk up to my eyeballs). Unfortunately, right now is NOT the time to be buying unless you really don't care about getting 40% to 60% of the value of your home being wiped out in the next 4 or 5 years. I think there are very few people who can stomach that kind of loss, even if they aren't looking to get rich from home-ownership.
True, I don't know for sure that prices will drop up to 60%. However, I firmly believe this kind of decline is more propable than it has ever been. We have NEVER had the kind of run-away global credit bubble that is currently impoding right now. If we can see 100% appreciation in 5 years, then I don't see why we can't see at least 50% depreciation in the same kind of time-frame.
In any event, I admit that a dramatic price drop might not happen, but I strongly feel that people shouldn't be buying real-estate right now unless they factor such an event into their decision. Hey, if you still feel good about buying a house that might drop 60% in value by 2011, then go for it. If prices don't fall then you'll be pleasantly surprised. But the very real risk of a major real-estate deflationary period should not be dismissed and all prospective buyers must be prepared for it.
By the way, I remember reading some of our old friend Eulea's postings, where he made a good case as to why Bainbridge real-estate could see massive depreciation. That was a pretty good explanation of the risks.
There are lots of theories as to what will happen in the real estate market. What is generally agreed upon is that is will go down and how far down will vary from community to community. Frankly, if I worked in downtown Seattle or worked from home and had children of school age Bainbridge would be the community I would choose. Unless a terrorist starts blowing up Washington State ferries there is no reason to think the Island real estate will move differently than comparable neighborhoods in Seattle metro.
I love to watch ths ships, to breate the salt air, to see the mountians with fresh snow. I am older so diving and kayaking are not on my activity list any more, but I can watch others outside my window. Kids learn to sail every summer in the bays. Maybe it is my Norse blood, but this fits me.
Our city officials are often thought of as inept, but they aren't corrupt. There is lots of speech making and stomping of feet at counsel meetings so not much gets done, but not everyone thinks that is a bad thing. The city counsel sometimes makes stupid decisions and the City gets sued... but there are a lot of lawyers who live here. We all wish it were better, but in each of our singular ways.
Today I went to Monroe. The drive back to downtown Seattle was not relaxing to say the least. Would I consider a home on the east side unless I needed to be there for work? Not on your life.
Sounds like a fun party.
Assuming a $500k mortgage, your rent must be around $2700. If you are renting a house for that much and its flooding and condemned then you must be the most easily duped tenet in the world. You can rent plenty of brand new homes for hundreds less than that in pretty much every area in King County. I suggest you do the one thing that is easy about renting: move.
Yeah, I am an easily duped "tenet" -- or at least I was duped into holding a "tenet" that the market would begin dropping last year and to wait, and wait, and wait, only to see the areas we need go up, and up, and up YOY (I haven't seen Dec yet, but that was even the case in Nov). Another "tenet" I have been duped into holding is that the information offered on this forum is valuable to me and my situation, but it's become increasingly clear the last month or so that some here have the same single-message problem that RE cheerleaders have, though it's the opposite message -- "50% off! Don't buy, rent! 50% off!" We live in-city near Greenlake, have a kid, a dog, a cat, professional careers, a credit-score of 750 (maybe higher now since we haven't used credit in a long while), and now around $300K for a downpayment. Our rent is $2000, the lowest we found in the area in August '06. We also were denied about 8-10 rental houses because we've owned a house before and could buy again -- landlords would rather rent to those they know will continue to rent. One rental house we didn't get because the owner was a lawyer and worked in the same legal circles as my husband -- she told us she didn't want the awkwardness of having someone who is her equal to also be her "tenant." We got the house now only because our landlord is a mortgage broker and wants us as a customer. You were duped into your "tenet" that people like us are desirable "tenants." Think it's not true? Ask around, but make sure you are in North Seattle when you do it. North of the canal to 103rd -- not Bellevue, Kirkland, North Bend, or any other area that gets labeled as Seattle. All of our friends think I'm crazy for making us wait over a year now while prices have continued to go up and our rental house has deteriorated.
tenet: a belief or creed
most are still above 500K but I'm sure it will drop soon...
you're close to Tacoma and some of it's life and seattle life is an hour away... they also have decent schools within the community...
this is a higher end community of mostly professionals... still can't understand why it's so expensive (I guess everybody wants the sound views) as it's a bit of a commute...
I'd stay away from artificial lakes... those lakes (lake Tapps) are drying up... not sure about bonney lake...
For two apparently rich professionals, one of whom is an attorney, you sure are suckers. Why haven't you sued your landlord yet and demanded your rent payments back, if the condition of the house is what you are describing? I've never had a problem renting, despite also being married professionals with pets and money. The only thing I can think of, if your situation as described is accurate, is that you are either lying, stupid or both. Also, I apologize for misspelling "tenant", since that seems to be a very serious issue for you. Maybe the problem you have finding suitable landlords and rentals is your own attitude, and not the Seattle market.
In a choice between Issaquah and SeaTac, the former's the clear winner. SeaTac is often in the news and not in a good way.