Element Townhomes in Redmond-One Unit Left

Element-Townhomes

I just received an e-mail from Ryan Raffetto at Intracorp.  They have just one home remaining in their townhome project in Redmond.  Element, is a development of loft-style townhomes. The unit they have left is a 2 bedroom, 1 bath and is 600sf. It's priced at 226,000.  The dues are $120. (see the unit here) Home features include: Stainless … [Read more...]

1521 Second Avenue-April Sales & Promotion Update

1521.Condos

According to my source at Realogics/Sotheby's, 1521 second is now 70% sold and occupied.  This includes 4 sales in April and a number of other contracts in negotiation.  They are still running a program that includes a Smart ForTwo car with a purchase before April 30th.  (See here) Other notes: All remaining homes start at $1.1 million. New website  … [Read more...]

Escala Sales Picking Up Steam-FHA Approval Just Weeks Away

Escala

I spoke with Erik Mehr of Team Builder JLS yesterday regarding the progress at Escala Condominiums.  According to Mehr, they have successfully closed 6 sales since taking the project over.  They have over 40 pending sales and for those of you interested, you can follow their pending sales in the MLS.  They made a commitment to adding all their sales to the MLS last month. In … [Read more...]

Bravern To Lease South Tower

The Residences at the Bravern

Schnitzer West has just announced that they will be renting the South tower at the Bravern Residences in Bellevue.  This should not come as a surprise, given the market conditions and the current inventory levels in downtown Bellevue.  What is surprising is discreet manner in which Schnitzer has been operating.  The brokerage community has had no idea what direction the project … [Read more...]

Townhomes Can Be A Good Fit

Seattle-townhomes

I'm going to make an effort to highlight more townhomes on UCS.  They meet the needs of many Seattle home buyers.  In my experience, they always seem to be a perfect fit for someone that feels that  a condo is too small and a home may be too big or simply unaffordable.  Townhomes also are a good alternative for: Baby Boomers/downsizers Buyers wanting a yard More … [Read more...]

Brix Condos In Capitol Hill Reporting 8 Sales in Less than 2 Weeks

Brix Condominiums

I just received an e-mail from Amanda Loring at Brix Condominiums in Capitol Hill.  They have just 11 units left after selling 8 units in less then two weeks.  I think this a great example of a project getting serious with pricing; leading to more sales.  The tax credit is driving traffic as well.  Just 10 days left for buyers looking to take advantage. For more information … [Read more...]

Don’t (Always) Buy The Tax Credit Hype

Tax-credit

As a buyer you are bombarded right now with the hype of the tax credit.  Don't panic.  Especially as a condo buyer.  You need to remember that although the tax credit is $8,000, it doesn't mean that your search for a home will be a failure if you do not make the deadline.  Bottom line is, the tax credit is only $8,000 dollars.  There are still multiple opportunities in the … [Read more...]

Trace Lofts-Reducing Prices

Trace-Lofts-Capitol-Hill

Just a quick update on Trace Lofts in Capitol Hill.  According to a message from Matrix Real Estate this morning they will be reducing pricing on the remaining units for sale.  The updates will hit the MLS this afternoon.  For more information you can visit their website or refer back to a UCS post on Trace as well. According to the Matrix website they will be reducing … [Read more...]

Shredding The Offer; Sending It Back FedEx

Shredding a contract

Please forgive me while I rant.  I received an offer this week on a listing that I have in Seattle.  I will spare the details that should remain anonymous. In a nut-shell, when the offer came in, it literally should have been shredded and returned to the agent and the buyer who submitted it (via FedEx). There are unwritten rules in real estate that most of us abide by.  In this … [Read more...]

Is Your Agent Losing Their Home?

short-sale-certification

This might not be a surprise, but I think there is a chance your real estate agent has been in jeopardy of losing their home.  I saw this first hand on Tuesday when I took a Short Sale Certification course at the Seattle Association of Realtors.  It featured short sales experts, legal council for John L Scott and a short sale negotiation firm.  In this room full of agents, I … [Read more...]

All Liens Released at Mosler Lofts

Mosler-Lofts-Belltown

I just received really good news for the residents of Mosler Lofts in Belltown.  A friend of mine that lives there just sent me an e-mail with all the details.  He attached the recorded documents releasing the liens from title. (see below)  Without a ton of investigation (I'm off to dinner), it appears that a settlement allowed for the release.  Which makes sense; ultimately … [Read more...]

Olive 8 Update

olive8 condos.update

Periodically, I will update on the progress of some of our local condo projects.  I've checked in with the sales team at Olive 8 for a few months and didn't get much in response.  On that note, they did get back to me tonight with an update. (Thank You!) It came directly from Megan Hilfer at ParsonsPr (Olive 8's PR firm). Here is an update for you about what’s been going … [Read more...]

Housing’s HUGE Dilemma

Housing Dilemma

The biggest dilemma in housing is when an owner is under-water on their mortgage.  Let me try to explain why this is such a huge problem.  I'm going to use a situation that a friend of mine is in down in Phoenix Arizona. In the heat of market in 2006, he bought a home for nearly $420,000.  That home is now worth $180,000.  In the foreseeable future it would be impossible for … [Read more...]

Downtown Seattle Condo Tour-Progressive Open

Downtown.Condo.Tour

Late notice, but If anyone is in the mood to view some downtown Seattle condo inventory, there is a progressive condo tour from 1-4pm today. View the map here:  Open House Tour If you want to view any of these condos at different time, can schedule a time by clicking the button below. … [Read more...]

Ruby Condos: 4 Sales Away From Sellout

Ruby Condos.Exterior

Ruby condominiums is now down to just 4 units. Ruby is a 4 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. Developer:  Barrientos Management: CWD The remaining units and floor plans are included below: Unit #101 -- $304,500: -- … [Read more...]