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Seattle zoning laws are creating a residential climate similar to the one already being felt in cities like San Francisco. With land restrictions that limit residential development to only single-family homes, real estate is at a premium.
Home prices are skyrocketing. The Seattle Times reported that, in 2017, single-family home prices were pushing $820,000. Similarly, one-bedroom apartments in the city average $2,000 per month in rent. People simply can’t afford to realize the “American dream” at this pace.
Known for its talented workforce, Seattle has been at a real estate crossroads for some time. Over-inflated home prices, a result of an imbalanced supply and demand, are creating an unfriendly home buying atmosphere and pushing Seattle-based professionals and families to find alternate solutions when homes simply aren’t available or, in most cases, just too expensive.
So, what does that mean for us? Are we protected from this real estate trend or will we, as a community, feel the ripple effect?
Located a comfortable distance from the hustle of Seattle, it’s safe to say that we’ve already noticed an increase in home-buying trends from individuals and families opting for affordability over convenience. It has proven an option for those seeking the benefits of Seattle’s flourishing job market, but the beauty and island lifestyle that we are able to offer.
One Camano Island family has followed suit.
After months of endlessly searching for a home to accommodate their growing family, Erik and Danielle Krieg put their West Seattle home on the market back in 2014 and expanded their search north. At the time, what they found was a friendly housing market that combined their needs of quality, community, and affordability.
Danielle, who has built a reputation as a successful interior designer at a leading architecture firm in the Pacific Northwest, Stuart Silk Architects, has maintained the same workload with a slightly altered schedule since her family relocated. Currently, she commutes to Seattle 3-4 times a week, with 1-2 days spent in her home office on the Island.
“The trade-off of leaving the city for a more peaceful, affordable life on Camano Island has been worth it,” said Danielle Krieg. “Don’t get me wrong, on some days the commute into Seattle is horrendous and I find myself questioning my sanity – but on most days, I’m just grateful that my family found such a great community to call home. It’s been life-changing for each one of us.”
It has been nearly four years since the Krieg family left Seattle, a city they both lived and worked in independently for more than 20 years each. But, it’s been a decision that their family hasn’t regretted.
The Krieg children enjoy the much-loved tire swing at Freedom Park on Camano Island.
The Krieg children enjoy the much-loved tire swing at Freedom Park on Camano Island.
“Not for one second,” Krieg concurs. “Being able to come home to the beauty of Camano Island each afternoon, watch our kids run and play in the backyard, and being active members of a community that values family – it’s changed us for the better. We still work hard, professionally, and value what Seattle has to offer us for that, but now we can wind down and enjoy life as we’re meant to.”
This trade-off seems to be one that others are heeding – and for good reason.
The Stanwood-Camano Island communities have proven themselves a viable option for this home-buying demographic. Our growing business community and lifestyle brand, Discover Stanwood-Camano, continues to showcase why we are relevant and desirable for full-time residence; we’re not just a commuter town. Our commitment to family, reflected in the recent $147 million bond passed to build a state-of-the-art high school campus, combined with Paine Field offering passenger flights to many western U.S. cities this September, has aided in this enhanced appeal.
The country remains a seller’s market with home prices and values continuing to rise. Single-family homes in the metro King, Snohomish, and Pierce counties have risen faster than anywhere else in the country since mid-2016, according to The Seattle Times. As this trend continues with no end in sight, and people continue to search for affordable housing options in viable communities, Stanwood-Camano Island will continue to see and feel the impact.
We are part of the hottest market in the country. (Hang on tight!)
