How housing price increases have affected Bothell

House values have roughly doubled in the last 10 years.

  • Friday, January 11, 2019 8:30am
  • Life

By Japreet Dhillon

Special to the Reporter

The last several years has seen the price of houses increase.

Houses have doubled in value over the last 10 years. With Bothell and the greater Seattle area on the rise with giant tech companies and new startups emerging, it is not hard to make the leap as to why prices have gone up.

Seattle continues to be one of the most moved to city in the United States, being in the top five of most moved to cities.

According Redfin and Zillow, four-bedroom homes built eight years ago were appraised at roughly $400,000. In July 2018, those same homes were valued at $701,311.

These rising home prices are affecting the newly out of college demographic as they find it hard to stay in communities where they have lived their whole lives.

Nick Smith, a recent University of Washington Bothell graduate, has lived in Bothell his whole life and doesn’t want to leave. However, with the way the housing market is going he said “there isn’t any way in the foreseeable future that [he] could own [his] house.”

“How is any person who has just graduated college, with student debt, and not a great income [going to afford a $700,000 home?]” he asked.

Seven hundred thousand dollars is about the average house price in Bothell.

“Most students on average do not make more than $55,000 coming out of college and struggle to make more even with years of experience,” said Smith.

While the housing market may be difficult for potential buyers, current home owners in Bothell who bought their homes before the exponential growth in the housing market have seen great return on their investment. With the values of homes doubling in the last 10 years.

Current Bothell home owner Varren Singh bought his four-bedroom home in 2008 for $320,000. His home is currently appraised at $700,000 — more than double of what Singh had bought his house for.

“The boom is amazing, I never thought my investment would turn this profitable,” he said. “If I want to sell my house now, I could move into a better one and it would be easy.”

Japreet Dhillon is a journalism student at the University of Washington Bothell.

More in Life

‘American Pickers’ puts out call for antique finds

The History Channel show is coming to Washington and seeking finds throughout the state, including the Eastside.

Romero to speak at next Pub Talk at McMenamins

He will speak about how arsenic was used historically as a common pesticide, spreading poison across the United States.

Inglemoor’s Vuu serves as page in State House

Pages’ responsibilities range from presenting the flags to distributing amendments on the House floor.

Wastemobile begins household hazardous waste collection season in Bothell, Feb. 22-24

Visit Wastemobile website for details about acceptable materials and amounts, plus upcoming collection events and convenient, permanent disposal sites

Townsend to speak on turning forests into biofuel at Northshore Senior Center

This event is set for Feb. 28 and is free and open to all.

From left, Clara Ling (franchise owner) and Daisy Quitugua (center director) at the soft opening of Code Ninjas on Feb. 1. Madison Miller/staff photo
Bothell resident opens coding center in Newcastle

This is the first Code Ninjas center in Washington.

Cotton to speak at next Pub Night Talks event at McMenamins

He will discuss Frederick Law Olmsted’s legacy of including green spaces in urban planning.

Bothell offers insight on rainy season streams and gardening

Locals can learn how to prepare their garden for spring and offer input on future workshops.

IHS junior Sam Trott and sophomore Daisy Held play Mr. Darcy and Elizabeth Bennet in IHS’s upcoming production of “Pride and Prejudice.” Madison Miller/staff photo.
Inglemoor takes on Jane Austen

The school’s first show of the new year will be the author’s “Pride and Prejudice.”

United Way offering free tax help on UW Bothell, Cascadia campus

The service will be available twice a week through April 16.

Adman to speak at Northshore Senior Center on local water systems

The president of the Sno-King Watershed Council will speak on how they are monitoring the area’s water systems.