One Lincoln Tower

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  ONE LINCOLN TOWER 650 Bellevue Way, Bellevue 98004 Project:  One Lincoln Tower Neighborhood:  Downtown Bellevue DESCRIPTION One Lincoln Tower (built in 2005) is home to 148 condominiums on 41 floors.   Built above the 303 room luxury Westin Hotel in Downtown Belleuve, it has a storied past including more than one developer taking at shot at completing the … [Read more...]

34 Seattle Condos Go To Auction

As reported today in the DJC by Lynn Porter, 34 Settle condos in three different projects will be going to Auction. When:      December 5th at 1pm Where:    Sheraton Seattle Hotel, 1400 Sixth Ave. Minimum bids will start at $125,000 at Sunrise, $140,000 at Summit and $150,000 at Avaview. One- and two-bedroom units will be offered at Summit, Avaview and Sunrise. One studio … [Read more...]

Washington Square Update

For those of you with your eyes on Bellevue, I thought I would give you a quick update on Washington Square. Royce Koh is a listing agent and a representative of the development and sales team.  According to his numbers sent to me this morning, Washington Square had 10 new home closings in September and 9 new home sales in October.  If proven correct, those would be … [Read more...]

European Tower

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Well its back....To my surprise it appears that European Tower is "on the market".  Obviously this may change depending on the pre-sale interest, but for now they have 10 units available for pre-sale.  The prices are ranging from $700,000 to over $2000 per square foot. They are advertising the floors as "fully customizable" .  A very interesting time to be entering a … [Read more...]

Case Shiller Home Prices in August

According to the Case Shiller home price index, prices have increased now  for four months in a row.  In fact, 17 of 20 major US cities increased 1.2% in August over July. "U.S. home prices have apparently bottomed," wrote Harm Bandholz, an economist for UniCredit Markets. (source MarketWatch.com) This is a positive sign in what has been 3 years of a devastating US real … [Read more...]

Enso Closing Date Extension

As seen at urbnlivn.com, Enso will delay move in for their contracted buyers.  This is a constant in new construction and will probably never change.  Like other local projects (i.e.  Equinox, One Main etc.....) this can create a serious problem for developers retaining the Earnest Money that acts as a deposit between the Buyer and the Seller. In most contracts, the Seller … [Read more...]

WaHomeowers.com

Just a quick post to make you all aware of www.wahomeowners.com This site is a great resource for anyone contemplating a purchase.  It is a not-for-profit designed to educate and provide resources for its readers.  As always, if any questions come up, be sure to e-mail me at jreynolds@urbanimg.com … [Read more...]

Important Factors When Buying A Condo

I'm often asked what the most important factors are in buying a condo.  This can be a confusing process for a new buyer or even an "old dog" that has been investing for years.  Let's keep it simple: Location  (A staple of Real Estate, "location, location, location!) Lifestyle   (How does it fit your age, taste, aestic style and needs as a condo owner) Price         … [Read more...]

Veer Loft-Price Reductions

Veer Reduction

Vulcan and Williams Marking have just announced price reductions at Veer Lofts. Located in South Lake Union, Veer Lofts consists of 99 units in 3 different layouts.  Look for more reductions however if these don't stick.  Veer still has a number of units to sell.  I don't expect them to fly off the shelf.  Just months ago South Lake Union looked to be shaping up into a quick … [Read more...]

Ruby, Picking Up Steam

If you are unfamiliar with the project; Ruby is a 5 story, 52 unit project of one bedroom units on the Northend of Eastlake (MAP IT) .The majority of the units are West facing and have expansive views from Downtown Seattle to Wallingford.  They have high end finishes and a charm about them for the low cost per square foot. Their position in the market has obviously improved … [Read more...]

Brix and Gallery Sales

Brix_Post_AuctionV2

Brix and Gallery are reporting some immediate success since they have established new pricing.  According to their e-mail blasts, they have sold 5 units at Brix and 4 units at Gallery.  I have attached the e-mails for your reference.  Is this a part of the Auction buzz or pricing that is finally meeting the expectations of Seattle buyers? … [Read more...]

Gallery Release of Units

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Gallery condominiums just released new pricing.  This is the first release since the Auction last Sunday.  As you will see on their e-mail blast, they focused on pricing this inventory in-line with what was sold at the Auction. http://www.auctionthegallery.com/ As always, please feel free to contact me with any questions. jreynolds@urbanimg.com … [Read more...]

Bellevue Condos; Stuck in a Pickle

It doesn't take a genius to understand the enormous problem that developers and lenders are facing right now in the Bellevue condo market.  If we consider basic supply and demand, we can speculate as to the severity of this issue. Many of the new buildings in Bellevue right now are apartments.  There are only so many tenants for the available space.  Considering that we were … [Read more...]