For those of your looking to rent in 2012, there are a new wave of rentals that just hit the market in Seattle. Unlike traditional “apartment” projects, these rentals are condo owners leasing their units in highly coveted buildings. I’ve included the listings below.  Just click the picture to view more details.

5th and Madison unit #1704 (learn more about 5th and Madison)

Cristalla Unit #1107 (Learn more about Cristalla)

Cristalla unit #703 (Learn more about Cristalla)

Enso Unit #1608 (Learn more about Enso)

Ruby Condos Unit #213 (Learn more about Ruby)

Avenue One Unit #1202 (Learn more about Avenue One)

Downtown Rentals:

Capitol Hill Rentals:

Queen Anne Rentals:

Greenlake Rentals:

Eastlake Rentals:

Wallingford Rentals:

Do you remember this condo we wrote about in September? Then, unit #809 at Cristalla was scheduled to go to auction with a minimum bid of $254,745. It was postponed (delayed) and finally made its way back to the foreclosure auction last Friday. It was brought to our attention by a loyal reader and client of ours who wanted to purchase this particular unit. On their behalf, I went down to the auction on Friday in an effort to secure the property for them. It didn’t take long me to notice that there were a few others investors that had their eyes on the 1 bedroom unit as well. Long story short the bidding started at $212,000 and ended at $265,000. Not a bad deal considering that this same exact unit once sold for $622,500 in 2007. Not all foreclosure sales have the same result, but in this case, my analysis showed that this property sold for about 70% 0f its actual market value.

We’ve just updated our Cristalla Property Profile page.  Check it out.  Interested in learning how to buy at the auction?  Contact us.

We all love the idea of living in a penthouse right? This penthouse at the Concord has not been on the market since 2003 .  Listed at $1,795,000 it sits atop of one of the best buildings in Belltown.  The unit has 9 foot ceilings, walls of windows and over 700 sq ft of outdoor space. I personally dig the dark floors, bright colors and modern baths. With that said, I won’t be buying the unit anytime soon so its all yours!
[listing c/o L. Tenure)

Take a look at the listing here:

This market still surprises me daily when it comes to pricing.  I came across this unit (#1107 at the Parc) during my inventory review this morning and it stuck out like a sore thumb.  I’m not endorsing it by any means, but I do want to look at some numbers:

• (13) There are 13 stories in this particular condo building (The Parc).  Unit #1107 is just 2 from the top.
• (2007)  In 2007, this unit sold for $379,000
• (2011)   In 2011, this unit is now for sale for $209,000
• (45)  At this price, 1107 has been reduced 45% off the last sale price
• (328) At $209,000 this unit is priced at $328 per square foot. It initially sold for $594.98psf

This condo is short sale. Therefore the sale is subject to bank approval.  Short sales are a HUGE part of our market now.  If you want more information on short sales or if you have any questions, don’t be afraid to ask.  In regards to this specific unit, I’ve sold the “07″ plans before.  If you have specific questions about the unit or want more info, contact us.

There are no other pictures at the moment, but you can click the image below to get the rest of the details on unit #1107.

As I was going through my daily inventory yesterday, I noticed unit #1108 at Mosler Lofts. What a cool unit. First and foremost, it is a corner unit. Corner units are incredible because you have double exposure and double the views. It has a wall of windows, island kitchen, exposed concrete ceilings, its own private deck and big views. In my opinion, this is a unit worth checking out.  It is the original owner selling the unit. It was purchased for $610,000 in 2007.  Now offered at $525,000.

Check it out here.  Thanks to M. Doyle, our friend and a loyal reader for sharing the pictures.

Building: Harbour Heights
Neighborhood: Belltown

DESCRIPTION

Harbour Heights is located at the corner of 2nd and Cedar.  Built in 1980, Harbour Heights stands 18 stories tall and totals 93 units. Situated in the north end of Belltown, Harbour Heights neighbors include, The Parc, Avenue One, The Vine, Arbor Place, Mosler Lofts, Concord and Gallery.  Generally considered the quieter side of Belltown, Harbour Heights owners boast large floor plans and great views.  The amenities in the building rival many of its competitors.  They include, an outdoor pool, game-rec room, fitness facility, rooftop terrace with BBQ/sun-chairs and many of the units also feature a spacious private patio or sun room. Although Harbor Heights has been around for decades, the owners of the building have recently renovated.  Those renovations include new siding design and a fully renovated lobby.

SEARCH

PICTURES

MAP

View Seattle Condo Map in a larger map

WALKSCORE

Check this place out.  It’s located in one of the coolest buildings in Belltown; the Banner Building.  It was built in in 1994 and won the prestigious AIA award. The Banner has a total of 26 units in the building. This particular home is a combination of 2 units creating a massive 3,362 sq. ft. space.  It has 3 bedrooms, 3.75 bathrooms located on 2 levels architectural bliss.  I LOVE the killer spiral staircase leading you up to the second floor.  It also features a custom designed kitchen, a massive walk-in closet, 2 decks, 2 parking stalls and ample storage space.  It first came up as an active foreclosure last week and the sale was pulled from the auction list. As of this morning it was back as active. I will keep you posted if it ends up on Friday’s auction list.  For now, check out the pictures below.  I’m sure you’ll be as awestruck as I was.

It was last listing in May of 2009 for 2,450,000.

Here is a video of the exterior if you feel like checking it out:

Click here to view the embedded video.

Quick update on the auction foreclosure – Concord #508.  As we posted earlier this week, the opening bid was $236,072.  It sold this morning to an investor for $258,000.  It is unknown at this point if it will be flipped or if it will be a rental. Stay tuned.

Its back!  Remember this unit from 2 weeks ago? I wrote about it back on the 26th of September as well. This 5th floor condo at the Concord in Belltown was postponed last week.  Now, its back on the auction list to be sold this Friday. It was last purchased for $500,000 in 2007. It was listed in March of this year for $439,950. The minimum bid at the foreclosure auction is $236,072.08.

For those of you unfamiliar with the building, I’ve added the information below.

For those of you looking for a rental right now, you may want to check these out.  They both hit the market in the last 24 hours.

1 bed, 1 bath at 1920 4th Ave #704 (Escala):

Private elevator, big views, its own private deck, kitchen, dining and living.  Hardwood floors and wall-bed for guests.  Includes office-nook.  Amenities include elliptical swimming pools, gym, theater room, 24 hour concierge and wine cave.  Pretty cool unit too:

Click here for more details:

Furnished studio at 2033 2nd Ave #904 (Cristalla):

Corner unit on the 9th floor. Good exposure, great building.

Click here for more details:

Remember these two units going to auction last Friday?  I wanted to share the results.

Unit #1204 at 2200 Westlake:  Sold for $1 over minimum bid.  For those of your unfamiliar with the auctions.  That means that only one investor was bidding on the unit and acquired it for just $1 more then what the bank was asking.  What a win.  It sold for $265,501.  That is a 58% reduction from its last market sale in 2007! That is just $274 per square foot for concrete and steel construction.

Unit #508 at The Concord:  This unit had a very different result.  The sale was postponed.  This can happen if the unit owner files bankruptcy, talks the bank into a delay of sale, successfully sells the unit as a short sale, or when the bank decides to delay the proceeding.  At any rate, it did not sell and we’ll keep it on our radar in the coming months.

There are 2 great condos that are going to auction tomorrow (9/23/11) and I would buy both of them in a heartbeat.  The first and the most attractive in my mind is W1204 at 2200 Westlake.  It has North facing views that overlook the courtyard, Lake Union and extend all the way to Gas Works Park.  It was originally purchased in April of 2007 for $628,000.  At one point in 2008 it was listed for as much as $650,000.  Now just 3 years later, this 1 bedroom, 1 bath has a minimum bid of $265,500!

The other unit is located on the 5th floor of the coveted Concord in Belltown.  I love this building.  In my opinion, it ranks in the top 15 condo buildings in Seattle. The unit is not a home run, but it is a great value and an opportunity to buy low in a class “A” project. Unit #508 was last purchased for $500,000 in 2007.  It is 754 sf with big views of the Sound.  It was last listed in March of this year for $439,950.  The minimum bid at tomorrows foreclosure auction is just $236,072.08.

It is not very often that 2 great units go to auction on the same day.  I try to keep my eye on the auctions each week.  These 2 condos combined with the Cristalla unit from last week have to make the last 2 weeks the best I have seen in well over 6 months.  I think they make excellent buys for investors looking to buy and flip and even better buys for someone looking to do a long term buy, hold and rent strategy.  If any of you want to discuss options like these in greater detail, contact me through our contact us.

Unit #1204 at 2200 Westlake:

Unit #508 at The Concord:

If your interested in learning how to buy a foreclosure these, feel free to contact us.

This is a phenomenal buy and should be one of the hottest deals at the foreclosure auction in more then a year. Unit #809 at the coveted Cristalla is scheduled to be sold at tomorrows foreclosure auction (9/8/11).  This unit once sold for $622,950 in 2007.  The minimum bid at auction is $254,745. The condo is 826sf with 1 bedroom and 1 bathroom. It is a corner unit with great exposure and has panoramic views. Cristalla is a class “A” building with some of the best amenities in Seattle.  In my opinion, it was designed with purpose and will be forever popular for Seattle condo buyers.

If your interested in learning how to buy a foreclosure like this one, feel free to contact us.

Learn More About Cristalla

View Seattle Condo Map in a larger map

Take a look at this Belltown Condo.  It is a 1 bedroom at the Vine that is headed to foreclosure auction tomorrow morning.  It was just listed in March of this year at $345,000. The minimum auction price is $189,539.  The unit is located on the 3rd floor.  It has custom paint, hardwood floors and is 934sf.  For those of you unfamiliar with the Vine, it was built in 2002.  It has 12 stories and 176 units.  It’s located at Western and Cedar, across the street from the Parc.

I thought I would share a quick update from this weekends foreclosure auction.  There were a number of units that I had been following leading up to Friday morning: A studio at Belltown Court, a 19th floor unit at Cosmopolitan and a penthouse unit at Avenue One in Belltown.

Belltown Court #728:

Unit #728 was on the mls just last year.  It is a 579sf top floor studio with a private view deck.  It last sold in August of 2007 for $292,000.  On Friday the minimum bid for the property was $101,489.  I was told that the final sale price was $110,000.  wow.  Considering that one-bedroom studios can rent for as much as 1,400 per month in Belltown, this could be a pretty sound investment for the new owner.

Cosmopolitan #1907:

Many of the one bedroom units at the Cosmopolitan selling at Foreclosure have been successful. Especially the north facing units.  This particular unit, like many other west facing condos in the building is heavily encumbered by the 1918 office tower next door.  With that being said it is a 800sf unit on the 19th floor.  One would think that an investor at the auction would have paid the $240,000 for it when it became available.  It sold in June of 2007 for $445,000.  Suprisingly, it never received a bid.  It reverted back to the bank and we will likely see it as a REO/Bank Owned listing soon.

Avenue One Penthouse #PH02:

For those of you unfamiliar with Avenue One, it was built in 2005 by Intracorp and is located at the corner of 1st and Clay in Belltown.  I’m always surprised to see penthouse units on the auction block.  This unit was purchased in 2005 for $980,500.  It never received a minimum bid and therefore wasn’t available for sale at auction.  It was postponed by the bank.  I will continue to monitor the situation.