Meanwhile.. on Planet Rich - Seattle

[Bigmack]

This is how those 1%ers live. I don't have class envy... I have class disgust.
- - - - - -

Hunts Point parcel, without house, sells for $14.75 million

An empty two-acre parcel sold for nearly $15 million this past week, and it wasn't a downtown high-rise site — quite the opposite. It's the rounded tip of the exclusive Hunts Point enclave, which juts into Lake Washington a bit east of the 520 floating bridge.

The property, listed at $19.7 million, features 846 feet of waterfront. It made headlines a few years back when the home on the site — a 6,860-square-foot rambler designed in 1949 for hydroplane-racing legend Stan Sayres — was offered for free to anyone who would move it off the lot. Turns out no one took that offer, made in 2005 when Andre and Lisa Radant bought the property for $17.5 million. Hunts Point interim town administrator Sue Israel confirms the Sayres house was razed the following year.

"They did build a new dock, that's the only thing that's on the property," Israel says.

County records identify the site's buyer as Hunts Point Trust, which paid $14.75 million on May 31.
Behind that trust are Rod and Janice Olson, who live a few doors down the street in what a 2006 town of Hunts Point newsletter described as a "spectacular new home."
The Olsons' house at 3645 Hunts Point is listed for sale at $12.9 million by Tere Foster, who specializes in the west Bellevue communities of Hunts Point, Medina, Yarrow Point and Clyde Hill.

She says Hunts Point real estate is becoming more scarce because of a unique dynamic — residents buying adjacent lots to expand their property. "Each year we lose a little" as someone buys a neighboring parcel, she says, citing Hunts Point resident and former Microsoft executive Scott Oki as an example.

Overall, the upper-crust area has held up better than the rest of the region's battered housing market, though prices are down from their peak, Foster said.

This year there have been 95 closed sales at an average price of $1.92 million, compared to 84 sales averaging $1.83 million in the same period last year. Some properties that sat on the market for more than three years have sold recently, Foster said. And thanks to the rebound in demand, "We have buyers we can't find houses for — and that's new."

[dixiegrrrrl]

1. They razed Sayres' house???!!!?????

Sacrilege!!!

I was a die hard hydroplane fan starting in the 50's, right up until the 80's.
Sayres' house should have been a shrine.

Bellevue has always been the Malibu of Puget Sound.

[Bigmack]

4. I remember when they did it....

.. they didn't allow salvagers, either. All that old-growth wood... cabinets, floors.... etc. A crime against nature!

dixiegirrrl, I taught HS in Bellevue. The students' parking lots looked like a high-end car dealership. The faculty parking lots... not so much.

[dixiegrrrrl]

5. Born and raised in the Puget Sound area, lived in Seattle off and on for eons.

Hell, I remember Captain Puget and Ivar!!!

Hydroplanes rocked!!!! in my world back then.

I got to sit IN Ms. Thriftway when I was 8!!!!! Floated on that memory for years.
Was a HUGE fan, took great delight in sharing the considered opinion that Bill Muncey was an arrogant asshat
but a damn good driver.
This was all before Ms. Budweiser and the turbo engines, and Bernie Little.
Tubo engines never sounded right to me.

then Muncey died and a year later Dean Chenoweth was killed and somehow it all seemed....pointless.
I never went to another race.

I remember when Bellevue was a 4 way light, and when Lynnwood had nothing but fir forest and ONE shopping corner, a Safeway store.

Nostalgia..it ain't what it used to be.

[Bigmack]

6. We are older than dirt! But we're smart! nt

[lumberjack_jeff]

7. Boris, JP, Gertrude and Esmeralda forever. n/t

:hi:

[dixiegrrrrl]

And Slo MO!!!!

[suffragette]

8. Don't forget JP Patches

http://www.jppatches.com/

and

Wunda Wunda

http://www.youtube.com/watch?v=AxElCiaKAO8


:hi:

[dixiegrrrrl]

11. I really liked J.P. Patches.

For some reason, I disliked Buffalo Bob of Howdy Doody fame..he looked shifty and untrustworthy.
But Patches.....he seemed nice.

[suffragette]

16. I remember it being on opposite Captain Kangaroo

Always preferred JP Patches.

[Angry Dragon]

2. Animal Farm ................. the pigs rule at the expense of the masses

[patrice]

3. Nail, head. nt

[Obamaforthewin]

9. Here it is....

Looks nice.

http://maps.google.com/maps?q=Hunts+Point&ie=UTF8&hl=en&hq=&hnear=Hunts+Point,+King,+Washington&ll=47.650588,-122.229252&spn=0.009381,0.026157&t=h&z=16

[ErikJ]

10. And idiot Washingtonians just voted down state income tax for the rich.

even though Washington is deep in debt. Just gotta shake my head at my northern neighbors.

[dixiegrrrrl]

12. They did?

Damn..there goes Ectopia.

[lumberjack_jeff]

15. Yes, despite having the most regressive taxes in the US, we did.

http://blog.seattlepi.com/seattlepolitics/2009/11/18/study-washington-state-has-usas-most-regressive-taxes/

[Bigmack]

13. Stupid is universal these days....

The measure, known as Initiative 1098, went down in flames, with nearly two-thirds of voters against. The ballot measure would have taxed individuals earning more than $200,000 a year or households earning more than $400,000, but cut property taxes and taxes on small businesses. The money raised was to go to schools and health care.

"Undecided" voters and the rural folks are apparently math and critical-thinking-skills challenged.

Or they just wanted to make the rich richer.

[Shagbark Hickory]

14. Glad to know rich people in the pnw were not too inconvenienced by the housing market crises that

caused millions of working families to lose their homes.