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Old 08-24-2009, 01:22 PM
 
13 posts, read 27,106 times
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Hi,

I will be moving to Seattle area from Chicago land with my wife and four yr old daughter. We are looking at buying a house for around $700K and have been considering the following areas:

View Ridge : established neighborhood, nicer houses, excellent views of the lake washington and mountains for most of the houses, closer to the city, green lakes area, Burke-Gilman Trail and the university village.

Lakemont : great schools (bellevue/issaquah), closer to Hwy 90 for easier commute to the downtown area, newer houses (built in 1980s and 90s), kid friendly, excellent views of the mountains and closer to the trails for biking and running, spacious houses with backyards.

These areas are both very attractive to us, but I was wondering if you could point out potential problems with these areas ... like commute to South Lake Union, possible depreciation of the property values, etc.

Thank you,
ArlHts07
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Old 08-24-2009, 01:38 PM
 
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I used to commute to the South Lake Union area using I-90 and I-5. In the morning it wasn't too bad but afternoons were a mess. I know they were talking about fixing Mercer St but don't know if anything really changed.

I have a friend that recently moved to Lakemont and she loves it there. It's quiet so you can sleep at night. Your brain doesn't have to work constantly to filter out noise.
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Old 08-24-2009, 01:42 PM
 
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Thank you.
How long was your commute to SLU in the mornings and evenings? Did you try public transportation?
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Old 08-24-2009, 01:53 PM
 
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We live in Lakemont, it is very nice up here..great neighborhoods with little stores in walking distance. Great area! My husbands job is moving to South Lake Union later this year, this will pose a commute problem for him! Taking a bus from here to there will require a change of buses downtown therefor making his commute around 45 minutes if the buses are timed right.
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Old 08-24-2009, 03:08 PM
 
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They are both really nice areas...I might suggest that View Ridge is a more established neighborhood with a longer track record of holding it's values. It's also really close to the lovely Magnuson Park...But it's in the Seattle school district, and even though there are good elementary schools nearby, that changes when the kids get to middle school age, and Seattle school district administration and politics is screwed up as can be...Also depends on what you like in a house. View Ridge has some really cool 1960's homes, where Lakemont has newer homes...The commute will be worse from Lakemont. Both are safe, pretty, and nice neighborhoods.
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Old 08-24-2009, 04:07 PM
 
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Thank you.
Pittgal : is there anything about the Lakemont that was a surprise for you after moving in or anything that you do not like out there?
Ira500 : do you see the property values holding up well in the Lakemont area?
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Old 08-24-2009, 09:29 PM
 
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Nobody knows for sure about the future of real estate prices, or as Yogi Berra said " Predictions are hard to make, especially about the future", but....right in the vicinity of Lakemont they've built a lot of houses in the last few years, and I'm just not sure the demand has kept up with the supply.
But again, how much you think a house or neighborhood will hold it's value shouldn't really be the main reason you buy there or not. If you like the area, if you like the house, if you figure you'll be there for years, your income is steady and you can make the payments without a lot of difficulty, then over the long haul you'll do fine in either neighborhood. Wherever you'll feel the happiest should matter the most, but you already know that.
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Old 08-24-2009, 10:37 PM
 
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I grew up in the Wedgewood/View Ridge neighborhood, kind of on the edge. Played little league football at View Ridge Park. Friends all over that neighborhood. The homes are modest to upper-modest, but quality built with ample yards and a certain above-average look and feel. Today, a quite desirable neighborhood of 40 and 50-something year old homes that still retain quite a nice value. The owners seem to still care about their appearance, and that more than anything makes the neighborhood retain its value.

BTW, Wedgewood has two spellings...each is accepted, Wedgewood, and Wedgwood.
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Old 08-25-2009, 12:15 PM
 
524 posts, read 1,785,118 times
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Quote:
Originally Posted by arlhts07 View Post
Thank you.
Pittgal : is there anything about the Lakemont that was a surprise for you after moving in or anything that you do not like out there?
Ira500 : do you see the property values holding up well in the Lakemont area?
Some of the views up here were a surprise...had no idea how much you can see when you just walk aroung the neighborhoods! So pretty. We do like it up here, we are in the middle of 2 exits on I90 so it makes it easy to head anywhere! I like the walkability up here. There is a little shopping center less than a mile from our front door that we walk to 3-4 times a week. It has a fabulous grocery store and a starbucks there.
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Old 08-26-2009, 12:10 PM
 
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Thank you.
Any ideas why the zillow estimates are well below the listed prices for most of the houses in Lakemont area? It is the other way around for houses in View Ridge.
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