Real Estate or Stocks?

There was a great article today in the Seattle Times on wire from Renae Merle of the Washington Post.  The piece was in regards to the choice of either buying Real Estate or Stocks and how smart investors have both.  There are great contributions and examples dissecting the two.  Full story click here

Virtual Driving Through Seattle?

If you haven’t had enough city driving or if you are itching to see what it is like to drive through downtown Seattle…Microsoft Live Search Maps has created a program where users can either drive or walk through downtown Seattle online.  Using street level images, the program gives users a great perspective of the city.  Click Here to try it out. 

What’s New In Seattle?

In reviewing the condo pipeline both in Seattle and Bellevue, it looks like inventory should start drying up as we lead into 2009 and especially 2010.  In previous years, condo buyers have had many different options in new construction - times are changing.  With gas prices nearing $5 per gallon & buses often times standing room only, the urban growth demand in Seattle has quickly begun increasing.   Also, with companies like Amazon and Microsoft taking more office space in Seattle, we can be certain that condo prices are on the rise.  It is amazing to think that just a year ago, there was a large concern about inventory over-saturation.  Keep your eyes out for a few newer projects releasing information as we enter into fall.

 

 

Seattle Growth Expectancy - by area

The Seattle Times just recently posted a google mapping application showing the growth expectancy in the Seattle.  Each pin point on the map correlates to specific Seattle neighborhoods.  Click Here - to view the map   

 

Parc

Recently the Parc was featured in the Seattle Times - Downtown Living Section.

To celebrate the completion of The Parc, the sales and development teams recently held an open house to showcase the new residential towers. More than 100 potential homebuyers came to The Parc to view the four new model homes, tour the building and the roof deck, and to visit the new sales center located on the street level.

The event and subsequent days resulted in 10 new home sales in just two weeks proving that the housing market is still going strong, says Hayes Olson, sales representative for The Parc.  People stop in to look and are astonished that they can still buy a top-quality home in downtowns most preferred neighborhood at an affordable price point, Olson says.

Located in the highly sought-after Belltown neighborhood, The Parc occupies some of the most coveted real estate in downtown Seattle. Its prime location just a short walk from the waterfront, the new Olympic Sculpture Park and Belltowns vibrant restaurant and nightlife scene means that many of the homes at The Parc offer stellar views of Elliott Bay and the Olympic Mountains, Mount Rainier, the Space Needle and the expansive city skyline. Even residents with territorial views can enjoy the panoramic, 360-degree vistas from the shared rooftop deck.

For those who want to wake up to a view every day, a number of luxurious two-bedroom and penthouse homes are available. Another feature unique to The Parc is the Terrace Homes. These spacious residences offer some of the largest private terraces in the city, with water and Space Needle views.

There are still units available in excellent price ranges.
 
 

Veer Lofts Nearing Completion

Veer Lofts, A Vulcan Project, is nearing construction completion.  The article provided below was sent in a recent press release from the Veer Sales Team.

These are exciting days for all of us at Veer Lofts! We’ve entered our final construction phase and are on target for an early September opening, just in time for those glorious late summer days and barbeques… not to mention bocce ball on the Veer deck.

We are now conducting ‘hard hat’ tours of the loft homes that will soon be ready for move-in at Veer. It’s a great opportunity for you to get a firsthand look at the layout and unique spaces of each Veer home. Also, in the first week of July we will have a furnished full loft available for viewing. If you’re interested in taking a tour, please call or stop by the South Lake Union Discovery Center on Westlake and Denny to schedule a personal visit.

With interest rates low, a healthy job market and a strong local economy, now is the perfect time to consider a move to the hottest neighborhood in town, South Lake Union. As South Lake Union evolves, you will be in the midst of exciting changes and dynamic new options for work and for play. Buying now means you beat the rush, and nothing could be better than that.

 

- Veer Sales Team

 

Let us know if you would like to preview the South Lake Union Discovery Center, so we can make arrangements.

 

Escala

Escala was just featured in the Seattle Times - Downtown Living Section

Escala, a condominium tower now under construction in the heart of Midtown, recently reached a milestone as more than 50 percent of its Premier Sales Release has been sold. More than $6 million in sales were recorded in the last month alone, resulting in an Encore Sales Release happening now.

Escala developer John Midby of LEXAS Companies says the new inventory actually represents the last near-term opportunity for new condominiums in downtown Seattle, given the reported 95 percent drop in new construction deliveries anticipated by 2010.
     

Seattle continues to demonstrate the most enviable real estate fundamentals in the U.S., but the condo pipeline has become severely constrained, says Midby. Were very fortunate to be moving ahead when so many other developments are delayed behind the credit crunch. Our proposition is simple we offer a finite number of preferred homes in the most confident market in the nation.

By late 2009, the 30-story tower will be comprised of 270 condominiums averaging more than $1 million. Savvy homebuyers recognize that Escala has differentiated design, unparalleled amenities and ideal timing, says Chris Stiebler, community sales manager for Windermere OnSite.

Escala was recently recognized by the National Association of Home Builders as having the best floor plan in the nation and was just recognized as a finalist by the Pacific Coast Builders Conference for Best Specialty Project for Club Cielo, Seattles first private social club in more than 20 years.

Escala is far more than a luxury high-rise condominium its becoming downtown Seattles finest lifestyle establishment, says Midby.

Midby has partnered with PONCHO and Masins Fine Furniture for art and furnishings at Escala and has reached out to Columbia Hospitality to run the new social club. The hospitality company recently appointed Ken and Cathi Hatch as founding cochairs of the advisory committee for Club Cielo. For more information on the clubs development, visit www.clubcielo.com.

Escala is one of the most unique buildings to arrive in Seattle with fantastic amenities.

AVA

Ava is one of the most highly anticipated new projects coming to Seattle.  There is currently quite a bit of speculation regarding the timing of this project.  Some of which has been caused by the growing number of Seattle New Construction Developements being placed on hold.  As far as we know, the developer fully plans to move this project along.  AVA is in an ideal location and it may be timing the market perfectly, as Seattle’s New Construction Condo Inventory is planned to shrink from over 1,000 deliverable units per year to around 200 to 300 units delivered in 2010.  Click Here to take a look at a recent interview that we had with king 5 news.  

International Impact in Seattle Market

Peter Oh, our VP of International Marketing, was just featured in an article posted on MSNBC.  Peter was featured with Dean Jones, in an article explaining why foreign investors are flooding the US real estate markets.  As the US dollar continues to weaken, markets like Seattle and Bellevue are becoming very attractive to foreign investors/buyers from Korea, China, India, Europe, etc.