Wednesday, October 11, 2017

Snoqualmie Pass Real Estate, Mortgage, and the Economy - Seattle Home Prices Soar, Some Buyers Are Giving Up

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As Seattle-area home prices soar, some would-be buyers are giving up

By The Seattle Times

SEATTLE -- As a year of record-breaking home-price increases continues across the Seattle area, millennials and other first-time buyers are comings to grips with the reality that they simply can't save up quickly enough to match the rise in home costs.

The median price of a single-family home in King County last month grew 16.1 percent from a year earlier, the most for any September since records began in 2000, new data out Thursday show. That follows the hottest-ever August for the local housing market, and the hottest-ever July.

The options for homebuyers looking for cheaper alternatives farther out weren't much better: Prices rose more than 10 percent in Snohomish, Pierce and Kitsap counties.

The effects of a half-decade of home-value surges have taken a large toll on affordability. In the last five years, home prices across King County have grown four times faster than wages, according to figures released Thursday by ATTOM Data Solutions.

Colin Perez, a 30-year-old tech worker, and his wife have been renting for the past two years while they searched for a home to buy. Despite making "decent money" and saving up, they've only fallen further behind.

"Where do I have to be in my career in the Seattle market to be able to afford something?" he said. "I'm 30 now; if I wait until I'm 40, is it even going to be affordable You can't catch up."

They thought about putting less money down to grab a home at today's prices, but that would make their mortgage huge. "It's gotten to the point where the reality of living in Seattle for us is really low," he said.

Justin Baghai, a tech worker renting in Ballard, started looking to buy a two-bedroom this summer and upped his budget to $500,000. He put in an offer above list price on a condo in Redmond but was outbid by $50,000 by a foreign investor.

Baghai, who is 25 and says he earns a good income, figures anyone under 30 not making six figures in Seattle will have to spend about 10 years saving up to afford a home. Earlier this year, a survey found nearly half of local millennials are considering moving because of housing costs.

"Every single day I go on Zillow and just look at new listings, and every day I'm disappointed without fail," Baghai said. "At this point it's looking unlikely that I'll even be able to live in the Seattle area, where I grew up, and that's frustrating."

The monthly home-sales data released Thursday show more of the same for what has been the most expensive year ever for Puget Sound- area real estate.

The only good news for buyers is that prices have dipped a bit since the record highs reached earlier this spring and summer, but that almost always happens this time of year. The year-over-year increases, on the other hand, have been the highest on record three months in a row.

King County's median price of $625,000 is nearly $87,000 more than at this point a year ago.

The biggest price increases were on the northern and southern edges of the county, where homes are most affordable. Seattle's median price of $725,000 is up 15.1 percent from a year ago. The Eastside price grew 14 percent, to $855,000.

More and more homes are edging above the $1 million mark, which used to denote a luxury home but now might just mean a regular house in a desirable location. More than 3,700 homes have sold for seven figures so far this year in King County, a 42 percent increase from a year prior and nearly double the total from two years ago.

King County's home-price growth in the third quarter of this year was the 5th-highest among America's 407 counties with at least 100,000 people, ATTOM's data show.

Among the largest metro areas, the Seattle region has led the nation in cost increases for the last 11 months.

Stephanie Calabro and her husband are renters in Eastlake who both work in Seattle, grew up here and have family in the area. They "feel like either we're just going to have to rent forever or move to a more affordable city," she said.

"It's sad," Calabro said. "We hate the thought of commuting an hour a day so that we can purchase a livable home."

Mark Corcoran, a Seattle broker with Windermere, said the best thing prospective buyers can do is set realistic expectations.

Home shoppers may have to look farther out to cheaper areas and lose multiple bidding wars before they can get a house. If you can afford a $700,000 house, you should be looking at homes priced at $600,000 in case they get bid up, he said.

"It really sucks to be a buyer in this market right now," he said. He just had a client who lost two straight bids despite offering more than $100,000 over list price.

Both Enumclaw and the Jovita/West Hill Auburn area saw prices soar 29 percent from a year prior. Costs grew more than 20 percent in Auburn, Black Diamond/Maple Valley, Renton-Highlands, Sodo/Beacon Hill, North Seattle, Shoreline/Richmond Beach, the Eastside area south of Interstate-90, east Bellevue and Kirkland-Bridle Trails.

The only areas where prices dipped at least 1 percent from a year ago were Queen Anne/Magnolia and the condo-only market of downtown Seattle.

The shortage of homes for sale continues to help drive up prices. Inventory across the county was down 16 percent from a year ago and has been dropping nonstop for several years now.

In Pierce County, despite the normal seasonal slowdown, home values hit a new all-time high of $318,750 — up 14.3 percent from a year prior.

In Snohomish County, the median sale was $450,000, a 13.9 percent increase. In Kitsap County, costs grew 10.3 percent to nearly $315,000.

-- The Seattle Times

Tuesday, October 10, 2017

Snoqualmie Pass Real Estate, Mortgage, and the Economy - How To Avoid Mortgage Scams

How To Avoid Mortgage Scams

Criminals Play on Consumer's Closing

September 26, 2017

E-mail scams can take many forms, but did you realize that an e-mail scam could scuttle your home purchase? The Federal Trade Commission (FTC) recently issued a blog warning homebuyers of a housing-related e-mail fraud that can drain your housing funds.

Thieves initiate the swindle by hacking into the e-mail accounts of homebuyers, real estate agents, and brokers, looking for information on home purchases that are approaching the closing process. Once they have gathered enough information to create a convincing premise and the time is right, the thieves send an e-mail to the buyer pretending to be a party (real estate agent, attorney, title company, or escrow personnel) involved in the closing process.

The e-mail outlines an alleged last-minute change in the closing process that requires transfer of money to a specific account – for example, claiming that there is a problem with a previously sent check or that a money-wiring destination has changed. The instructions will direct buyers to send funds electronically to a different account used by the scammers.

With a single click, your down payment and closing funds could disappear – along with your dreams of home ownership.

How can you avoid falling for this scam? Start with the basics, by making it more difficult for a scammer to hack into your computer and obtain the necessary information. Make sure that your anti-virus software is up-to-date and properly maintained. Be wary of e-mail attachments and file downloads, unless you are 100% sure of their origin and nature – they may install malware that can disable or bypass your computer system's security setup. Make sure that your wireless connections are properly secured and protected.

As a rule, you should avoid sending financial information by e-mail. Doing so gives potential thieves more paths and opportunities to steal your information.

Since you can't prevent hacking on the other end of the home-buying transaction, other precautionary steps are required. Make sure that you understand what to expect during the closing process so that you can more easily spot a fraudulent request. Verify the contact information for your real estate agent or settlement party to use in case you have questions about the financial transaction. Call your designated contact directly to verify that the change requested in any e-mail is real.

It's always best to confirm receipt of any wire/electronic funds transfer with your real estate agent as soon as possible. As an additional measure, contact your bank directly before sending any electronic funds transfer – the bank may be able to spot discrepancies in the request or detect the recipient account as a known participant in previous scams.

If you still manage to fall prey to a closing scam, contact your lender and the wire transfer company immediately to attempt to reverse the transaction. Speed is of the essence.

Follow up with a complaint to the necessary law enforcement agencies. Your state Attorney General's office is a good place to start. By reporting the e-mail scam to the FTC and filing a complaint with the FBI's Internet Crime Complaint Center, you may be able to save other homebuyers from being scammed.

Don't let an e-mail scam cost you the home of your dreams. Scammers count on you being so confused and exasperated that you blindly go along with their request without giving it a critical review. Don't give them the satisfaction of succeeding. Educate yourself, take the time to verify requests, and make the scammers search elsewhere for unwitting victims.

By MoneyTips

Monday, October 9, 2017

Snoqualmie Pass Real Estate, Mortgage, and the Economy - Home Prices In These 5 Pierce County Zip Codes Climbed Again

Home prices in these five ZIP codes are driving Pierce County real estate

BY KATE MARTIN

The median home sale price in Pierce County has climbed again, this time by nearly 10 percent compared to a year ago.

Last month, a median-priced home sold for $313,000, up from $285,000 a year ago.

Not all ZIP codes in the county are seeing the increase equally. An analysis of home sales data from Northwest Multiple Listing Services shows median sale prices skyrocketing in some areas and stagnating in others.

Most notable: Northeast Tacoma, with its sweeping views of Commencement Bay, the Olympic range and the Port of Tacoma.

Last month, the buyer of a median-priced home in ZIP code 98422 paid $417,500 — a staggering $122,500 more than she would have paid a year ago.

That’s nearly a 42 percent jump, the highest in Pierce County of any ZIP code in the span of a single year.

“There’s limited availability of these properties, particularly beautiful view properties,” said Bobbie Petrone Chipman, regional manager for real estate brokerage John L. Scott in Puyallup.

Still, homes are selling at a brisk pace, Chipman said, with sellers getting multiple offers.

“The market has gone from a frenzy to being a hot market,” Chipman said. “Due to the limited inventory, buyers are having to make selections based on what’s available rather than being fully based on their wants and dreams.”

The other ZIP codes where the median home price escalated significantly were:

▪ University Place, 98467

The median-priced home there sold for nearly $430,000 — nearly $70,000 more than a year ago. They’re east of Chambers Bay Golf Course and north of Lakewood.

▪ Steilacoom, 98388

A median-priced home sold in Steilacoom for $384,500. That’s $69,500 more than a year ago. The ZIP code boasts waterfront views of Puget Sound.

▪ Eatonville area, 98328

A median-priced home sold for $285,000, $68,000 more than a year ago. State Route 7 runs through the wide-ranging ZIP code, just west of Mount Rainier National Park on the south side of Pierce County.

▪ Gig Harbor area, 98335

This ZIP code has the highest median home sale price in the county compared to a year ago.

The median home sold for $513,500 last month. A year ago, that figure was $450,000. That’s more than a 14 percent increase.

The area, home to many high-value, waterfront properties, includes Gig Harbor, Artondale, Forest Beach and Wollochet. A home with three helipads and a yacht moorage, now on the market for $6.9 million, is located there.

Home prices dropped in only two ZIP codes: Roy and an area north of Gig Harbor.

In the Roy-area ZIP code of 98580, the median sale price dropped by $58,275 to just under $300,000. In ZIP code 98332, median prices dropped by $21,309 to $465,000.

ZIP codes that had fewer than 10 sales were not included in this analysis.

And for you keeping score, the median King County single-family home sold last month for $650,000, an even $100,000 more than a year ago. That’s more than an 18 percent jump.

Friday, October 6, 2017

Snoqualmie Pass Real Estate, Mortgage, and the Economy - Seattle Retains Title Of Hottest Housing Market

Seattle home values continue to skyrocket, rising at a rate of more than double the national average in July.

According to the latest installment of the Case-Shiller National Home Price Index, Seattle home prices shot up 13.5 percent on a year-over-year basis. Portland saw the second fastest home price growth at 7.6 percent, according to the report. The national average for July was 5.9 percent.

Seattle has consistently been the hottest housing market in the nation over the last few years, buoyed by the city’s thriving technology industry. This summer, Zillow found that Seattle is among the cities with the highest number of $1 million neighborhoods. Seattle has 38 $1 million neighborhoods, putting it at seventh among the top 10 cities.

And while Seattle is gaining $1 million neighborhoods rapidly it is also grappling with a homeless crisis. A separate Zillow report found that Seattle has the third highest homeless population in the nation, behind only New York and Los Angeles. Seattle is one of several cities where Zillow ties rent increases to a rising homeless population.

Developers are building record numbers of apartments in the Seattle area, but it still is not enough to keep up with the demand from the constant influx of new people as well as potential buyers stuck in the rental market due to high costs. Rising home values and lack of available starter homes make it tough for younger buyers, even the techies working at Amazon and Microsoft, to get into the market.

Case-Shiller’s data shows that the biggest competition for houses over the past few years has been at the lowest price tiers. High-end housing prices have been pretty stable, while cheaper homes have been extremely volatile. However, things do appear to be leveling out somewhat, as even the low-priced homes aren’t seeing as extreme price spikes as they did back in 2013 and 2014.

Wednesday, October 4, 2017

Snoqualmie Pass Real Estate, Mortgage, and the Economy - Why You Shouldn't Make A Big Down Payment On Your First Home

Why You Shouldn’t Make a Big Down Payment On Your First Home

Ryan Derousseau

For decades, it was one of the few hard-and-fast rules when purchasing a home: Put 20% down. A hefty down payment would help you build up equity faster, and make sure your mortgage was affordable.

Times change. A new study from the National Association of Realtors underscores the fact that the 20% mark is far more myth than reality. Over the past three years, the median down payment for a first time homebuyer has been just 6%. It’s higher for those buying their second or third home—the average repeat homebuyer now puts 14% down. But that’s still a dramatic drop from an average of 23% back in 1989. And, in fact, when asked what would be considered a fair down payment, 70% of respondents to an NAR survey said 10%.

The shrinkage of the average down payment is influenced in part by the fact that real estate prices risen far faster than incomes, particularly in and around coastal cities. It’s a concerning trend, especially considering the prevalence of zero-down-payment mortgages that proliferated in the market prior to the last recession, and that worsened the effects of the crash.

But for households in good financial shape, paying less than 20% is not nearly as worrisome as one might think. In fact, it can free up funds for retirement savings and other important goals in ways that can make you look smart down the road.

For starters, the fact that interest rates remain historically very cheap mean that the costs of carrying a bigger mortgage aren’t as painful as they might have been in a different era.

Of course, a smaller down payment means that you have to pay private mortgage insurance (PMI) until you work your way up to having 20% equity. PMI can run 0.5% to 1% of the entire cost of the loan—and in one sense, that can cost you some opportunities. Take a $300,000 home that has a 30-year fixed mortgage of 4% on a loan of $270,000. If you put 10% down, you’ll owe approximately $121 a month in PMI insurance. If you were putting that money in a low-cost index fund instead, you would have over $14,000 in a retirement account after seven years, assuming historical returns.

On the other hand, you could weigh that against the opportunity – and reduction of money related stress – that come with a lower down payment. Say you saved $60,000 for a $300,000 home purchase, but opted to put only 10% down, or $30,000. Now you have $30,000 sitting comfortably in your savings account. According to the NAR, buyers of a brand new home spend $10,601 on appliances, furnishings or repairs in the first year after purchase. Buyers of existing homes spend $8,233 in that first year. You could spend that money, and still have around $20,000 to park immediately in your retirement savings.

You could also put that $20,000 extra into a bathroom remodel or a kitchen repair, either of which could help you build equity in your home if it raised your home's overall value. That could enable you to wipe the PMI off your mortgage bill more quickly—and, eventually, you’ll have more cash flow to feed into that nest egg.

Thursday, September 21, 2017

Snoqualmie Pass Real Estate, Mortgage, and the Economy - Seattle Developers Compete In Apartment Amenities

Seattle developers compete in apartment 'amenities arms race'

With more high-earning tech workers moving to the Seattle area every day, apartment buildings are trying to woo them with head-turning amenities.

A report released earlier this year from the U.S. Census Bureau said the Seattle metro grew by 1,100 people per week from 2010 to 2016.

Jim Goldberg with Red Propeller, a real estate development marketing firm, said in the industry the competition for the best apartment amenities is known as the “amenities arms race.”

Developers say one goal of the amenities is to give those new to the area a sense of community.

“With the employment driver in the city that’s bringing in new demand and so the apartments and most of the new development is really responding to that demand,” said Goldberg.

Red Propeller said the process usually starts three years ahead of the apartment building’s opening. First they want to define who their target audience is, so they research who will likely want to live there. Then they dream up the ideas with architects and designers through brainstorming. All parties work through potential costs to make sure the amenities are realistic – and then building can begin.

Goldberg said their ideas are not as random as some might think.

“For us, when we develop a real estate strategy, we work to be very focused,” he said. “(There’s a) variety of demographics segments, but we look for commonalities and threads for what we call psychographics and mindset drivers that would tie those audiences together.”

Goldberg explained psychographics are the values that drive the audience to buy.

For instance, in an upcoming Washington D.C. project, Red Propeller is trying to weave seemingly different population segments like college students, empty nesters, and divorced dads together. They’re doing this by trying to appeal to the targeted audience’s love of the area’s park and food culture.

“This is a really aspirational project,” Goldberg said in a Red Propeller meeting in June. “Whether it’s a student transitioning into their first adult home, whether it’s the maturing downsizing audience or those growing their families.”

'Best and greatest'

“The market right now is booming,” said Kathi Williams of developer Security Properties. “You have to think outside the box and offer amenities that you think will make you the best and greatest.”

Security Properties is putting the finishing touches on the Kinects Tower, which is located in Denny Triangle at the corner of Minor Avenue and Stewart Street.

Williams said the company is trying to make a statement with Kinects Tower’s penthouse pool on the 41st floor. The pool area takes over one-half of the top floor and is enclosed with glass, giving residents a view of the Space Needle, downtown, and Puget Sound. The rest of the top floor is an open-air rooftop with views of South Lake Union.

“We have a panoramic view of Seattle and the mountains and the water,” she said. “This is enough to set us apart – to have and build a community with the people who are going to live here at Kinects and this will be a place where they want to come.”

Air conditioning, a rock wall – and a speakeasy?

Brian Runberg of the Runberg Architecture Group said the design of Juxt in South Lake Union was a nod toward changing industry. There are elements of nearby MOHAI and of the neighborhood’s newer technology sector. Juxt is also home to a speakeasy hidden behind a wall on the eighth floor. Residents can use the speakeasy to entertain guests.

Across Dexter Avenue is an apartment building named True North. It’s geared toward outdoor enthusiasts and features a rock climbing wall for residents.

Another Runberg Architecture Group design recently opened in the University District. Augusta Apartments is a Vulcan development that features air conditioning units in each apartment – a rarity due to Seattle’s typically mild climate. Augusta also features a rooftop common area, a fitness center and adjoining basketball court, and curated artwork lining the walls and meeting rooms.

Can amenities be affordable?

Runberg said while most of the headline-grabbing amenities are at market-rate apartments, he said more affordable housing communities are trying to incorporate amenities as well.

He mentioned Marion West, a property run by the Low Income Housing Institute and geared toward formerly homeless youth, has a rooftop common area with an urban garden.

KING 5's Ryan Takeo

Wednesday, September 20, 2017

Snoqualmie Pass Real Estate, Mortgage, and the Economy - 5 Steps To Take Before Buying Your First Home

5 Steps to Take Before Shopping for Your First Home

If you're getting ready to shop for your first house, it's vital that you take a few key steps first to ensure buying a home is really the best choice for you.

Christy Bieber

When you're considering buying your first home, you're probably full of excitement about achieving the American dream. Unfortunately, this dream could turn into a nightmare if you haven't made sure that you're financially ready for the costs of becoming a homeowner. You don't want to fall in love with a house before you've done the practical thing and made certain you're prepared for homeownership. Before you call a realtor, take these five steps to get all your ducks in a row.

1. Calculate what you can comfortably spend

The last thing you want to do is make yourself "house poor" by spending more of your income on a home purchase than you should. The "affordability standard" for housing is that you should spend no more than 30% of your income on housing costs (including insurance and property taxes), while many mortgage lenders prefer that your housing cost is no greater than 28% of your income.

Your outstanding debts can also impact the amount you can spend on a home. Most lenders want a total debt-to-income ratio -- including your mortgage payments and other debts -- to be around 36% or less, although you can still get a standard mortgage with a ratio as high as 43%.

This means if your income is $50,000, you could reasonably afford about $1,170 per month for your total housing costs if you stuck to the 28% rule -- assuming you didn't have a substantial amount of other debt that would push your total monthly payments above the recommended 36% of income. If we also assume you can pay 20% down and qualify for an interest rate of 4%, then you could potentially afford a home price of up to $250,000. That may or may not be a realistic price in your area, and you may want to aim lower if you have other sizable debts.

2. Save a down payment of 20%

In our example above, we factored in having a 20% down payment when calculating the price of the home you could afford. Paying at least 20% of the value of the home up front is vital, because it allows you to avoid private mortgage insurance (PMI). PMI insures your lender in the event that you're unable to make payments and the lender must foreclose on you. On a $200,000 loan, PMI could cost you $100 a month or more, depending on how much you paid up front -- and you could be paying it for several years.

You're stuck with PMI until you pay your loan down to 78% or less of the home's original value. Once you prove to your lender that you've reached that milestone, your lender is required to drop the PMI requirement. .

If you don't have a down payment, not only will you waste thousands of dollars on PMI and additional interest payments, but you'll also put yourself at substantial risk. When you make a 20% down payment on a home, the value of the house would have to fall more than 20% for the home to be worth less than you owe on it. If you only make a tiny down payment, however, even a slight downturn in the market could mean you're underwater -- i.e., your home is worth less than you still owe the bank. This makes it difficult or impossible to sell unless you can bring cash to the real estate closing for the difference between what your house sells for and what you still owe.

3. Save an emergency fund of three to six months' worth of living expenses

When you're a homeowner, you are responsible for everything that goes wrong in your house. Instead of calling a landlord when the furnace breaks or the pipes freeze, you have to call -- and pay for -- a repair man. If the problems are costly to fix, or can't be fixed, you're the one on the hook. If you don't have money set aside to cover maintenance, repairs, and replacements, then you'll have to use credit. You don't want to be paying interest on your new fridge for the next 10 years, so make sure you have an emergency fund to cover the many costs of being a homeowner.

Not only can an emergency fund help you pay for surprise repairs, but it can also ensure that you don't lose your home in the event that an illness, job loss, or other crisis puts a major strain on your household finances. If you cannot pay your mortgage because your income has taken a hit, you could be foreclosed on, lose your house, and end up with ruined credit. You don't want this to happen, so save up enough money to pay the mortgage for several months in case something goes wrong.

4. Get pre-approved for a mortgage loan

When you have your financial house in order, it's time to prove to the bank that you're ready for the responsibility of taking on a mortgage. You want to get pre-approved by your chosen financial institution before you start shopping for a home. Getting pre-approved means you'll have a clear idea of what the bank will lend you so you don't shop outside of your price range. You'll also be taken much more seriously by real estate agents and any potential sellers to whom you make an offer. Some sellers won't even consider offers from someone who isn't pre-approved, because there's no way to know whether the financing will be available to complete the sale.

If you want your bids to be competitive and you want to know you're shopping for houses that are priced right, provide your financial information to the bank before you start house shopping and get a pre-approval letter to take with you.

5. Find a buyer's agent

Although you can technically buy a house without an agent, it's usually a bad idea to try it -- especially if it's your first home. An agent can help you spot red flags that should send you running away from a prospective home. Agents know the market and can help you make a reasonable offer so you don't overpay, and they can also guide you through the steps of the buying process, like getting a home inspection.

You'll want to be sure you find a buyer's agent, rather than letting the seller's agent represent both you and the seller. A buyer's agent is focused only on your interests and has lots of experience helping homebuyers find the house of their dreams. If you've already made sure you're financially ready before calling a realtor, your agent can help you make the buying process low-stress and successful.

Tuesday, September 19, 2017

Snoqualmie Pass Real Estate, Mortgage, and the Economy - Million-Dollar Homes On The Rise

Million-dollar homes on the rise in Seattle and the Eastside: How many in your neighborhood?

Mike Rosenberg

Seattle Times business reporter

Last year, we got word that a record 12 percent of homes in King County were selling for at least $1 million, a big rise from prior years. Now we know that our share of million-dollar homes is rising faster than just about anywhere in the country.

Zillow released a new national report this week that looked at ZIP codes where at least 10 percent of homes are worth a million bucks or more. Three years ago, the Seattle metro area had 16 of these ZIP codes — now, it has 38.

In the past year only the New York and Los Angeles metro areas — both much bigger — added more of these “million-dollar ZIP codes.”

Seattle, the 15th-biggest metro area in the country, now ranks 7th for the most million-dollar ZIP codes. We’re still behind New York, Los Angeles, San Francisco, Boston, San Jose and Washington, D.C., Zillow’s information shows.

We asked the Seattle-based real estate site for some extra data — which of our local ZIP codes have the most million-dollar homes, and how has that changed recently? Explore the map for details on your neighborhood.

Not surprisingly, topping the list is Medina (the exclusive 98039 ZIP code, home to the two richest people on Earth — Bill Gates and Jeff Bezos), where 99.7 percent of homes are worth at least $1 million. In Mercer Island, 88 percent sell for more than a million, while 64 percent of West Bellevue homes are worth seven figures.

The only ZIP code in Seattle with a majority of homes over $1 million is 98112 (think Montlake and Madison Park). Next up is the University District (42 percent of homes worth $1 million), Magnolia (39 percent) and Queen Anne (36 percent).

At the other end, a few ZIP codes on the northern and southern edges of the city, like Lake City and Georgetown, still have fewer than 10 percent of homes worth $1 million.

Which areas are making the ascent into luxury living the fastest? In the 98075 ZIP code in Sammamish, 11 percent of homes topped a million three years ago — now, 52 percent do.

The Fremont and Green Lake neighborhoods also stand out. Three years ago, less than 3 percent of homes in the 98103 ZIP were worth seven-figures; now, 17 percent are.

Snoqualmie Pass Blog