LOCAL MARKET UPDATE

2015 closed out the year with home prices hitting new highs, and inventory hitting new lows. The market is tough for buyers who are competing for a dwindling number of homes, but it’s also the greatest seller’s market in recent memory.

Read the full Local Market Update, including statistics for the Eastside, Seattle, King County and Snohomish County.

KING COUNTY

January Neighborhood Update / Eastside Equestrian Life

If you’d like information on your specific neighborhood, give me a call and I’ll be happy to send you a report.

This month marks article 3 out of 3 on the series titled

The Number One Question I’m Asked as an Equestrian Properties Specialist

“This property is great, but can I build a barn and/or riding arena on it?”

If we pick up where we left off last month, you have identified a property; you’ve done all your studies and checked with the county, and congratulations! You’ve purchased and closed on your dream equestrian property! Now the fun begins! Hopefully along the way during your pre-purchase process, you have been speaking to professionals who have helped you assess how best to proceed with your plans. Now you need to find the professionals who can implement those plans.

You have worked so hard to locate and purchase this perfect piece of property, don’t skimp now! It is very important the person you hire to build your barn and/or arena understands horses and understands your particular needs. What kind of set up do you need? How big do the stalls need to be? How large an arena? Does it need to be a regulation dressage arena? If so do they know what those specs are? Do you need an odd shaped arena? What kind of footing do you need? If it is an outdoor arena, the footing is essential. While some disciplines can manage fine with an indoor hogsfuel arena, some cannot. Outdoor hogsfuel is a recipe for disaster in the climate of the Pacific Northwest. You could be paying for someone to build you a mud bath instead of a riding arena! You will be getting offers from a lot of different folks who think they can help in this area. You wouldn’t hire your dentist to perform open heart surgery, would you? Don’t hire your gravel delivery man to install your footing, or your general contractor to build your barn, unless he/she has built many and can offer you references.

Visit professional and private barns and ask them to describe their experience of building or upgrading their set up, and see how the result is working for them.

What about return on investment? This is a tricky question to answer. How much you put into your barn and arena is not always what you will get out of it when the day comes to sell. Sometimes it’s less and sometimes it’s more. Build it with your use in mind so you will enjoy it and maintain it as you would your own living space. Equestrian features are coveted and homes that have maintained them are in high demand. All too often though, sellers have let this part of their home fall into disrepair and have focused on their living space as opposed to their animals. This is equity lost. The best way to maintain a barn is to keep it working. Empty barns fall into disrepair faster than full barns. By keeping your animals happy and safe you are ensuring the quality of their housing and of your investment.

If you would like a list of trusted builders please e-mail me and I will be happy to share them with you. Kiama@windermere.com