Newsletter Fall 2025
In This Issue
- New Office: We’ve moved into our new Kenmore-by-the-Lake location—stop by and say hello!
- Quantum Real Estate Launch: Our new brokerage helps landowners unlock hidden value.
- Market Insights: Development trends in King and Snohomish Counties.
Featured Projects: See how we turn challenges into opportunities. - Opportunities Ahead: Partner with us on new developments in the pipeline.
FROM THE DESK OF DANIEL WICK
It’s been a while—hope you’re well. I carved out time earlier this summer to recharge with my sons (18 and 23): we backpacked to Gothic Basin along the Mountain Loop Highway and summited Del Campo Peak—about 4,500 feet of gain and endless views. Later, my older son and I rode our Harley’s around the Olympic loop—hitting Sol Duc, Cape Flattery, and the La Push beaches—too many laughs and just enough trouble. Just a reminder that adventure and good company are fuel for the soul.
A NEW NEST IN KENMORE & OUR OWN BROKERAGE
Furthermore, we’ve launched Quantum Real Estate—a brokerage built on a simple idea: land should work harder for its owners. Our focus is unlocking greater value for sellers by maximizing the recent density increases afforded under HB-1110. Stay tuned as we share stories of smart deals, unique opportunities, and the bigger vision for how Quantum Real Estate is reshaping what’s possible in land investment.
MARKET SNAPSHOT
King County: Median home prices hover near $880K, up about 3–4% year-over-year, even as listings tick upward. Snohomish County: Median price $744K, up 4.1%, with roughly 2 months of inventory—still a seller’s market.
From a market perspective we believe multifamily, townhome, and mixed-use projects are leading the pack—they’re more cost-efficient and fit today’s buyer demand. Larger sprawling single-family plats remain slow due to higher fees and infrastructure hurdles. That said, national builders are still entertaining these plats albeit in somewhat further out locations where land pricing fits infrastructure costs.
Building permits in the region have edged upward overall, with 8,916 new units authorized statewide in 2024 (a ~3 % increase year over year). With the current political climate we anticipate this to remain the same or decrease slightly when 2025 numbers come out. We’re currently advancing a 55-unit townhome project in Monroe, which seems to fit the market demand. In fact, we’ve already received an offer for the permitted project and we haven’t even started the entitlements.
Active Inventory Updates
Park Place RV Storage, Monroe
Yep, we’re about to close on a 116-space RV storage park including a commercial building. The plan is to operate the existing RV storage park while permitting a planned 55-unit townhouse development. Yes, the development value eclipses the value-in-use by over a million dollars, so the highest and best use theory says it’s time to redevelop this one. We’ve decided to go with condos because the road standards for fee simple development create a serious reduction in lot yield. Keep an eye out on this to show up in new permit activity news in Snohomish County!
Closed Projects
Creekside Village, Marysville
Streams, wetlands, trees, and slopes oh my 😊. This project included the assemblage of three different parcels of land owned by three separate sellers. One of the sellers only sold us half their property and retained the other half with their house. We got this lead from our direct marketing and started the process with only one seller. As we dug into the project, assemblage seemed a great idea, and we succeeded in getting the neighbors to sell as well. As you can see, much of the land had critical areas and required us to place it into open space. That said, we’ve learned a few tricks over the years and were able to build in a considerable amount of the critical areas by building public roads through some of the areas thus ending the wetland or wetland buffer. Mitigation is still required when you do this, but it can change a losing project into a winning one if you know what you’re doing.
After we obtained the preliminary plat approval, Century Communities bought this one and were great to work with. HELP –We’re looking to add inventory to our pipeline and need your help finding projects for us to execute. If you or anyone you know is looking to sell developable land please get a hold of us first to see how we can add value to the project for everyone involved.
All the best to you and your families in the upcoming holiday season.
Best wishes from,
The Team at
