Where to invest next in Seattle/Eastside neighborhoods? I’ve been thinking about the list Seattle Metropolitan Magazine came up in April (see below). With gas prices up, rapid transit going in, I think the next hot spots will be along those rapid transit routes like what happened in San Francisco and Portland.
Here are 2 lists, one from last month and one from 3 years ago. My clients usually make a decision where to buy based on either the commute or schools, sometimes as specific as a certain grade school. What about home age and style. It has been suggested that buyers like the homes their grandparents lived in, not the ones they grew up in, so Will the next batch of buyers want the 50’s and 60’s houses as has been suggested and if so, should we be buying in those areas? There was supposed to be a trend away from large homes, and that’s probably the case considering home prices are so high most can’t have the size home the buyers of the 90’s did.
Here is the Seattle Metropolitan Magazine list of 15 of the hottest neighborhoods in it’s April issue.
Grandes Dames: established and well rooted neighborhoods:
The Rock Stars: fast rising districts surging with glamour and vitality.
Cinderellas: Formerly neglected areas now traipsing to the ball
Sleeping Beauties: Location, economy and neighborliness drawing overdue attention
- Upper Rainier Beach
- North Greenwood
- Stadium district, Tacoma
- Cape George Colony, Port Townsend
This is a dramatic change from 2003, when SeattleMagazine.com had their list of hot neighborhoods
- Sunset Hill
- North Beach
- Blue Ridge
- Olympic Manor
- Phinney Ridge
- Greenwood Manor
- North Admiral
Almost all of these were north of the U District.
Does this mean that our citizens are fickle and don’t have favorites more than 3 years in a row? Or was it this kind of story that drove the prices up in those neighborhoods so that they are now not affordable? Is it possible in 3 years that even Georgetown will be sizzling? I’d love to tap into the collective minds of RCG bloggers and see what you think.
I think Burien is an up-and-coming area and it’s not on either list. Any other hidden gems out there?