By MARK HIGGINS
SEATTLE POST-INTELLIGENCER REPORTER

Phinney popular with residents and merchants

Fred Jossy, president of the Greater Greenwood Chamber of Commerce and an associate real estate broker, says Phinney remains "one of the most popular neighborhoods in the whole city."

Home prices appear to bear that out. In 1990, the median home value in the Phinney-Greenwood area was about $123,000. In the past six months, the median sales price for just Phinney Ridge homes had jumped to about $220,000, according to Jossy.

Today's real estate market is so hot that most Phinney Ridge homes are sold within a day or two, if they ever get to the open market, Jossy says.

One ongoing project is to develop a cohesive neighborhood plan for Phinney Ridge and Greenwood, Jossy says. The two areas have long shared a single business district, which has seen its ups and down.

"Then there are those people who say, 'We like it the way it is,' and, 'We don't want it to be a Fremont or Wallingford,' " says Medeiros of the neighborhood association, who would like to see the shopping strip evolve into a nicer area.

Kevin Kowski and Scott Clancy moved their business, Stampola, from Fremont to Phinney Ridge last year, in part so they had room to manufacture their rubber stamps.

They live three blocks away from their shop, close enough to commute on foot each day with their three dogs. "No freeway -- it's a real pleasure," Kowski says.

There are close ties between Phinney Ridge businesses and residents, who seem to appreciate the small, independent shops.

"Everything you need is all within walking distance. You don't have to get in that traffic. You can avoid it all your life," says Chardell Paine.

Paine, who has lived in Phinney Ridge since 1977, paid about $50,000 for her home, which is now worth more than seven times as much.

Nick "The Greek" Sfondouris is a longtime Phinney Ridge homeowner and investor who knows all about the phenomenal rise in property prices. He has been buying up homes and commercial property in Seattle since the late 1960s.

Sfondouris says that early on he recognized the value of Phinney Ridge property, considering such amenities as Green Lake, the zoo, proximity to downtown and the ridge's sweeping views.

Thirty years of property investment has not dimmed his enthusiasm for Phinney property.

His advice is a rule he has lived by: "Never sell."

Continued:

• Neighborhood's sense of spirit helps make it a family favorite
• Ridge's topography gives it a unique setting
• Zoo sounds add to area's playful air
• Fostering community connections in time of change