Sold! Rustic, Waterfront Beach House in the Desirable Magnolia Neighborhood of Seattle

Sold

Sold for $1,650,000 in 2020
Property Type: Residential
Location: Seattle
Beds: 3
Baths: 2
Sq Ft: 2,310
Lot Sq Ft: 16,554

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What was once a vacation cottage for early Seattle pioneers is now available. Anyone who enjoys the water, Olympic mountains, and wildlife will appreciate this uniquely secluded and private setting just minutes from downtown Seattle. Living here you will easily forget that there is a major city behind you over the hill.

The constant parade of tugboats, cargo ships, Alaska barges, fishing vessels, ferries, cruise ships, Navy ships, nuclear submarines with their Coast Guard escorts, and crab fishermen will make a good pair of binoculars a must-have.

Binoculars are also handy for watching harbor seals, river otters, northern fur seals, a dozen varieties of ducks and geese, and the bald eagles that nest down the beach. They are all active on the tide flats immediately out your window and off your deck. (Your house comes with some ownership of the tide flats in front of you). Occasionally you’ll also see Orcas, porpoises, and sometimes a grey whale or two.

If you like feeding wildlife, the local resident raccoons will welcome you, as will the hummingbirds that nest in big cedar tree. The bald eagles like chicken, while the blue jays and squirrels enjoy birdseed, sunflower seeds, and peanuts.

If gardening is your thing, the sunny exposure is perfect for all kinds of plants and flowers. This is truly a unique wilderness experience.

 Square Feet: 2,310 s.f.
 Style: Multi Level
 Bedrooms: Master, 2 additional bedrooms.
 Baths: 2 – 1 full master bath and 1 full guest bath.
 Flooring: Hardwood, tile, carpet and vinyl.
 Kitchen: Luxurious kitchen with maple cabinets, Corian counters, pantry closet and skylight. High end appliances include; Dacor cooktop, oven and microwave, Fisher Paykel Dishwasher and Sub-Zero Refrigerator.
 Dining Room: Lovely dining room with wood stove, exposed beams, wall of windows and French doors to the deck.
 Family Room: Built-ins, wood burning fire place with river rock surround, large windows and door to the deck. All the wood and stone accent fill this room with charm.
 Master Bedroom: Serene master suite with vaulted ceiling, tile floor, double closets and door the private balcony.
 Master Bathroom: Elegant master bathroom wrapped in tile and rustic finishes. Featuring double vanity with Corian counter, jetted tub and oversized shower.
 Additional Bedrooms: Turret style rooms with breathtaking views.
 Full Bath: Wrapped in tile and wood, features sink with wood counter and large soaking tub.
 Laundry: Large laundry room with ample shelving. Washer and dryer included!
 Garage: Detached 1 car garage. Additional uncovered parking space.
 Yard: All new stone bulkhead waterfront with walk way. Ample lawn to play or soak up sun. Multi-level deck is great for entertaining or relaxing.
 Special Features: Rustic finishes; wood accent walls, exposed beams, stained glass windows and lighting, rock fireplace surrounds. Exterior wood shingle siding.
 Heating: Forced air
 Roof: Brand new Cedar Shake!
 School District: Seattle
High School: Ballard
Middle School: McClure
Elementary School: Lawton
 Utilities: Seattle PUD and Seattle City Light
 Lot: 16,554 s.f.
 Year Built: 1978

Price:	Sold for $1,650,000 in 2020
Address:	3251 Perkins Lane W
City:	Seattle
State:	WA
Zip Code:	98199
Year Built:	1978
Style:	Multi-Level
Square Feet:	2,310
Lot Square Feet:	16,554
Bedrooms:	3
Bathrooms:	2

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Seattle Schools - Lawton Elementary - McClure Middle School - Ballard High
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Why Home Prices Keep Going Up

If you’ve ever dreamed of buying your own place, or selling your current house to upgrade, you’re no stranger to the rollercoaster of emotions changing home prices can stir up. It’s a tale of financial goals, doubts, and a dash of anxiety that many have been through.

But if you put off moving because you’re worried home prices might drop, make no mistake, they’re not going down. In fact, it’s just the opposite. National data from several sources says they’ve been going up consistently this year (see graph below):

Here’s what this graph shows. In the first half of 2022, home prices rose significantly (the green bars on the left side of the graphs above). Those increases were dramatic and unsustainable.

So, in the second half of the year, prices went through a correction and started dipping a bit (shown in red). But those slight declines were shallow and short-lived. Still, the media really focused on those drops in their headlines – and that created a lot of fear and uncertainty among consumers.

But here’s what hasn’t been covered fully. So far in 2023, prices are going up once more, but this time at a more normal pace (the green bars on the right side of the graphs above). And after price gains that were too high and then the corrections that followed in 2022, the fact that all three reports show more normal or typical price appreciation this year is good news for the housing market.

Orphe Divounguy, Senior Economist at Zillow, explains changing home prices over the past 12 months this way:

“The U.S. housing market has surged over the past year after a temporary hiccup from July 2022-January 2023. . . . That downturn has proven to be short lived as housing has rebounded impressively so far in 2023. . .”

Looking ahead, home price appreciation typically starts to ease up this time of year. As that happens, there’s some risk the media will confuse slowing price growth (deceleration of appreciation) with home prices falling (depreciation). Don’t be fooled. Slower price growth is still growth.

Why Are Home Prices Increasing Now?

One reason why home prices are going back up is because there still aren’t enough homes for sale for all the people who want to buy them.

Even though higher mortgage rates cause buyer demand to moderate, they also cause the supply of available homes to go down. That’s because of the mortgage rate lock-in effect. When rates rise, some homeowners are reluctant to sell and lose their current low mortgage rate just to take on a higher one for their next home.

So, with higher mortgage rates impacting both buyers and sellers, the supply and demand equation of the housing market has been affected. But since there are still more people who want to purchase homes than there are homes available to buy, prices continue to rise. As Freddie Mac states:

“While rising interest rates have reduced affordability—and therefore demand—they have also reduced supply through the mortgage rate lock-in effect. Overall, it appears the reduction in supply has outweighed the decrease in demand, thus house prices have started to increase . . .”

Here’s How This Impacts You

Buyers: If you’ve been waiting to buy a home because you were afraid its value might drop, knowing that home prices have gone back up should make you feel better. Buying a home gives you a chance to own something that usually becomes more valuable over time.
Sellers: If you’ve been holding off on selling your house because you were worried about how changing home prices would impact its value, it could be a smart move to work with a real estate agent and put your house on the market. You don’t have to wait any longer because the most recent data indicates home prices have turned in your favor.

Bottom Line

If you put off moving because you were worried that home prices might go down, data shows they’re increasing across the country. Let’s connect so you can understand how home prices are changing in our local area.

“Tony and Wendi were there with us every step of the way.”

Preparations for the sale of our home, which happened in July 2019, began in November 2017.

Tony and Wendi were there with us every step of the way. We began with a thorough walkthrough, every room as well as the garage and the lot. Tony & Wendi provided guidance on focus areas as well as planned improvements & renovations to skip due to low return on investment.

They checked in regularly and were available to provide guidance every time we asked. And when we were debating pros/cons of going to market less than ready, or waiting until the following Spring/Summer, Tony provided the insight we needed re market trends and forecast.

Ultimately, we sold with 2 offers just 3 days after hitting the market, and we attribute much of that success to the experience, professionalism and excellent guidance that Tony, Wendi & Alise provided.

Mitch and Christy Bogard
Sold in Redmond – July 2019

More client references here...

Sold! Rustic, Waterfront Beach House in the Desirable Magnolia Neighborhood of Seattle

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