On the one hand, I do tire sometimes of Elizabeth Rhodes’ constant real estate cheerleading. On the other hand, at least it gives us something new to talk about every Saturday, right? Without Ms. Rhodes, all we get are bland neighborhood profiles like this one about the "legacy of Mountlake Terrace."
The legacy of Mountlake Terrace and growing families goes back more than a half-century. Relentlessly optimistic and energetic, World War II veterans returned home, eager to build new lives and new families. They needed someplace cheap to do it.
Enterprising developers bought up land in The Terrace and plopped down cinder-block houses as fast as the concrete would cure. The vets paid $4,995 for two-bedroom, 640-square-foot homes.
"And for an extra $10 a month, the developers would throw in all the appliances," said Stan Krahn.
Things have changed. One of those houses, albeit with an extra bedroom tacked on, was on the market last year for $210,000.
Still, Mountlake Terrace, population 20,390, according to 2004 city figures, is attractive for new families.
Sure, it’s crazy to think that people are paying $210,000 for tiny cinder-block houses, but what’s new, right? Actually the amusing thing is that one of the friends I referred to earlier bought a cinder-block house… in Mountlake Terrace… for ~$230,000. Let’s see, that’s about 6.6% appreciation, every single year, for 60 years. It’s magic!
(Don McManman, Seattle Times, 06.03.2006)