Gallery and Brix Auction Results

Well, both the Brix and Gallery Auctions are over...phew!  It was a great experience attending these events and for the developer who sold and the buyer who purchased, I would say the verdict is still out on who "won".  For the buyers it was between 30-32% percent discounts.  For the Seller, it will be the percentage of value above the minimum bid.  For us, who didn't purchase … [Read more...]

Extend the Tax Credit!

Will the tax credit be extended?  This is the recent debate.....Let me put it very simply; YES!  The housing market has made great strides since the commencement of the first time home buyers tax credit.  In the month of July alone over one third of all purchases came from first time home-buyers. We are at a critical point in our recovery.  The last thing we need is to dip … [Read more...]

Gallery Update

I spent a few days last week registering clients for the upcoming auction for Gallery Condominiums in Belltown.  It is pretty clear to me that this auction is the fastest way to get the project on the road to a FHA approval.  What is unknown is how successful the auction may be. I did feel the buzz of interested buyers and the prices seemed to be pretty fair.  Most minimum … [Read more...]

The Block

Block Queen Anne Exterior

Project: The Block 1707 Dexter Ave N Seattle, WA 98109 Developer: Bloch Development, LLC Architect: Stannard-Conway This urban dwelling is a concrete and steel development with mesmerizing views of Lake Union. A combination of lofts, this project features a generous mix of 6 units.  4 residential spaces and two commercial units.  The project used concrete, wood … [Read more...]

Mortgage Applications and Market Recovery

Ryan Niles is a Urban IMG contributor and a local Mortgage professional for Met Life Home Loans.  He released this piece yesterday, which eludes to a shift in the Mortgage applications and an overall sense that the market is recovering.  I hope you enjoy: "Well here is some good news...finally. We're here to tell you that the tide has turned. In examining our monthly loan … [Read more...]