King County home prices drop - Delridge and White Center markets still brisk

The Seattle Times today reports on the most recent Northwest Multiple Listing Service numbers:  "The 11 percent decline was the first double-digit year-over-year drop for King County since the subprime-mortgage crisis turned the market on its head."

This means that homeowners who have been counting on their home equity are seeing a big loss, but it also means that people who are ready to buy a home are finding better deals - if they can get the financing.  

It also appears that the price declines are hitting the higher end of the market harder:  

In West Seattle, the median selling price for single-family homes dropped 13 percent from last August's level, from $428,500 to $374,000. That's partly because lower-priced houses in neighborhoods such as Delridge and White Center are selling well, and higher-priced houses aren't, Howard said.

more here...

Opening Post

The mission of Delridge Neighborhoods Development Association is to engage residents, businesses and institutions in creating and maintaining a thriving Delridge.  

What is a thriving community?  In my mind, there are many facets - just to name a few:  

• there is housing and economic opportunity for the diverse range of people and families who live there and want to live there;
  
• there is a vibrant arts community, with the space and support needed for everyone to engage in it; 
  
• its residents have access to locally grown, healthy, affordable food;
  
• the neighborhood features safe and inviting places for physical activity and play—for everyone;
  
• there is a rich and ethnic and racial diversity and a robust effort to dismantle the historical inequities and injustices rooted in racism;
  
• its residents are civically engaged: there is strong participation in the decisions that affect people's lives;
  
• there is a strong network of support for local grassroots efforts to improve the neighborhood; and
  
• residents interact with the area's natural features in a way that protects and maintains these assets for current and future generations.

And that's just my own thinking in a few minutes.  DNDA has a more full statement about it's Goals and Principles here.  

We live in a fast-paced world where our ability to realize our vision of a thriving neighborhood is significantly impacted by the political, economic, and social environment surrounding Delridge.  I see news articles every day that add to my own understanding of that environment.  I'm starting this blog as a place to put those thoughts in one place on a daily basis, for those who are interested in a deeper understanding of DNDA's work and its place in the broader context of our city, our region, our nation, and the world.