Washington state is among the strictest in the nation when it comes to new condominium development, which has largely deterred developers in recent years from building any new projects outside of apartments for rent. The reason? Developers don’t want to face costly lawsuits, which have become somewhat of a norm. As Sightline Institute reports, conventional wisdom states that “if you build condos, you’ll get sued.”
There is something truly special about the bold yet simplistic architecture of a modern home. Stemming from the International Style of architecture popularized in the 1920s and 1930s, modern homes afford open layouts with connections between indoor and outdoor living spaces, abundant natural light often created through walls of windows, and little ornamentation. February is modern homes month at Sotheby’s International Realty® and to honor this striking approach to architecture, we compiled a collection of inspiring modern homes from around the network, spanning coast-to-coast in the United States, to Australia and Greece.
According to an article published by Seattle Times, “The single-family zones that make up about 75 percent of Seattle’s residential land have accommodated just 5 percent of all new housing added in the city this decade,” this courtesy of a report recently released by the planning commission. The advisory report, which was eighteen months in the making, says mild changes could be made in areas that are predominantly single-family homes right now.
Until recently, the Seattle real estate market headlines didn’t seem to change much, each remarking upon the area’s unprecedented home price growth and highly competitive climate for buyers. The past few months, however, have given way to a slightly different narrative, as increasing inventory and a less frenetic environment have pushed the market closer to a neutral one (though still decidedly in favor of sellers). Below we’ve outlined how these new market trends are playing out in the local real estate market with a look at Realogics Sotheby’s International Realty’s recently released market report for the third quarter of 2018.