Ayub's Blog

Renton is Rising; Fastest Growing City in State of Washington

Ayub Khaskheli (Brio Realty, Inc) — Sat, 26 May 2007 02:01:28 -0500

For years Puget Sound Energy and The Boeing Company have utilized much of the Renton's Waterfront and adjacent areas. Today, it is developing into a center for retail, and office-space developments. Between 2002 and 2004, The Boeing Company vacated about 900,000 square feet of space, leaving Renton with a 30 percent office vacancy rate.

Renton City Hall

Renton is the fifth largest city in King County. It is centrally located, accessible by four state highways and interstate 405 and just mints away from Seattle, Bellevue, Tacoma, and SeaTac Airport. The city's population has grown 27 percent in the past 10 years to about 58,000

According the Renton Chamber of Commerce that Renton's relatively affordable land costs, the large portion of unincorporated King county that may annex into the city, the growing population, and the diversity of Renton's residents as contributors to the city's bright future.

A recent economic forecast prepared by Douglas Pederson and Associates (March 2007) indicates that Renton is expected to continue to expand the community's vibrant economy. Some of highlights are:

* The city's population growth rate will average more than twice the King county pace.

* The number of housing permits issued in Renton grew 55% from 1999 through 2005 versus 12% for King County.

* Current unfilled orders of Boeing 737's total 1,449 equal to 4.5 years of production.

* During the next few years Renton will experience more robust growth across - the board, as faster job creation lifts both population and taxable retail trade sales.

Renton's 2007 total property tax rate is $10.94 per thousand dollars of assessed value. This compares to favorably with other nearby cities, including Kent ($11.30), Tukwila ($11.94), and Auburn ($11.47).

The city of Renton doesn't have a business & Occupation (B&O) tax. However, any business located in the city of Renton is required to have a business license. Renton is still relatively affordable compare to Seattle and Bellevue. It seems obvious that business will begin to move south, searching for more room, and better rates.

New Projects in Renton

The Landing: On a 46-acre site at the south end of lake Washington, Harvest Partner is now constructing The Landing a exciting new $300 million urban village. The development will contain over 600,000 square feet of retail shopping, restaurant, and entertainment venues, plus 900 residential units now under construction by Fairfield Residential. It is expected that the first phase of construction will be completed in fall 2007, and phase II in Spring 2008.

Southport: Southport is a mixed-use development being built on 17.5 acre along shore of Lake Washington. When completed Southport will include 750,000 square feet of class "A" office space in three, nine story towers, a boutique hotel, 395 residential units at the Bristol, shops, a waterfront Special Event Site and residential. Phase I of the Bristol was completed in 2002 and phase II is now under construction

Port Quendall: With more than 60-acres of waterfront property, Port Quendall is one of the largest pieces of development land on Lake Washington. Located on the southeastern shore of Lake Washington, Port Quendall is comprised of three properties that were once home to Sawmill, Coal Tar Refinery, and Creosote plant that contaminated the land. Since the mid-1990's the city of Renton has been working with the property owners and potential developers to try to clean up the site and develop the land.

There are two premier projects that have begun construction; both will be wonderful additions to lake Washington and a source of pride for the City of Renton. The New Seattle Seahawks World Head Quarters and Training Facilities, and Lake Barbee Mill Washington's new waterfront community

Source: City of Renton

Seattle, the "A" class city

Ayub Khaskheli (Brio Realty, Inc) — Sun, 25 Mar 2007 21:56:07 -0500

Seattle is truly a "A" class city, who wouldn't live here? Job market, rich culture, diversity, still affordable housing market (compare to other major metropolitan areas in the country), four season weather, all year green trees, water, mountain, lakes, and winter snow all are in one place.

Seattle's 100 years old Pike Place Market

Seattleites love boating; boating business is booming here, it is a big as a Miami, Fl. You can find out more about boating on http://seattleboatshow.com/

This is Seattle's Fish Harbor; it is number two in the nation after Alaska

Who says there are no beaches in Seattle? City of Seattle is built on hills, but still you can find some nice beaches around the city.

What affect your credit score?

Ayub Khaskheli (Brio Realty, Inc) — Wed, 14 Feb 2007 21:40:16 -0600

The Importance of Your Credit Score . . . . . . . Credit scores are an important factor in mortgage loans but many consumers are unsure about what causes them to receive that score

How Your Credit Score is Determined . . . . . . . The typical score model for mortgage are FICO scores. They are determined by five main categories:

35% is based on your payment history

(Including all accounts)

30% is based on the amount you owe creditors

(Specially revolving accounts with high balance)

15% is based on how long you have been using credit

(The longer you have a good payment history, the better)

10% is based on your applications for new credit

(If you are loading up on credit it may damage your score)

10% is based on your "Mix" of credit

(Numerous finance company accounts may lower your score)

How Your Credit Score is Compiled . . . . . . .The data used to compile credit scores is based on information reported by creditors to Equifax, Experian, and Transunion. It doesn't include information about income, race, sex, or religion

Maintaining Good Credit Score . . . . . . . There are key factors to maintaining a good FICO Score:

Pay your bill on time (Even one late in the 12 months can do significant damage)

Keep balance low on revolving accounts (Accounts with balance over 30% of the credit limit may lower your score)

Don't credit surf (Frequent credit applications or balance transfers may lower your score)

Review your credit file at least once per year (This enables you to determine any errors or fraud)

How to Correct an Error on Your Credit . . . . . . . If you feel there is an error on your file, contact the creditor in question and request an investigation. You may also dispute the item with the bureaus at the addresses below:

Equifax - PO Box 105873 Atlanta, GA 30348

Transunion - PO Box 1000 Chester, PA 19022

Experian - PO Box 2104 Allen, TX 75013

To remove your name from solicitation mailing lists, call the Direct Marketing List "Opt-Out number @ 888-567-8688. One call is valid for all bureaus. This is different from the "Do Not Call" list.

Follow these tips, and you should be on your way to maintaining a good credit file

(Courtesy Rainier Title)