I was doing some research this afternoon for a seller that owns a loft in the city.  In doing so, I realized that Mosler Lofts has 11 units for sale and 6 pending offers.  A total of 17 units that are currently active or under contract.  About 12% of the total building.

A green home may be classified by LEED, Built Green, Energy Star or another 3rd Party classification.

I thought I would highlight a few environmentally certified new construction projects and those still seeking some form of green building classification:

Trace North/Trace Lofts – Capitol Hill

Brix – Capitol Hill

Rollin Street – South Lake Union

Enso– South Lake Union

Veer Lofts – South Lake Union

Parc – Belltown

Mosler Lofts – Belltown

Cosmopolitan – Downtown Seattle

Olive 8 – Downtown Seattle

1521 – Downtown Seattle

5th & Madison – Downtown Seattle

220 West Highland – Queen Anne

Hjarta – Ballard

Florera – Greenlake

Bellevue Towers – Downtown Bellevue

Gallery Condominiums in Belltown have announced a new incentive program for purchases made between now and August 31st 2010.  See below for more details:

This is a fun post for me to write.  I have been so excited to share with you some recent updates to the blog.  As you will see in the picture below, we have added a category of links titled “UCS Exclusive Sites”.  I think this is an incredible addition to the site.

For the last 2 months, I have been working tirelessly on building individual sites for the major condominiums projects in Bellevue and Seattle.  The objective was to bring each project to you!  This hyper-local approach, delivers “building” specific information.  Each website is loaded with great info.  You can search units for sale, units that have sold and within a few weeks you’ll be able to search for rentals as well!  In addition, you will find the following:

• Neighborhood information
• Amenities
• Walkscore and much much more.

Each site is fairly interactive as well.  For example, if you want UCS to send you listings in your favorite building, just fill out the email notifications form and you will receive new listings immediately when they hit the market.  As an owner you will also be able to keep tabs on the units that are for sale in your building.  We will be adding new features to the site as time goes on. For now, my hope is that you enjoy what has been created.  Please spread the word!  I’m very excited to get your feedback.  See below for a list of all the websites offered at this time:

Here is an example of the website for the Vine!

These are where the website links are located in UrbanCondoSpaces (see the picture below):

Eastside/Bellevue Condos:

Bravern Condos
Bellevue Towers
One Lincoln Square
One Main Street Condos
Astoria Condos
Washington Square
Kirkland Central

Seattle Condos:

Trace Condos and Lofts
Brix Condos
Eastlake Condos and Lofts
Enso Condominiums
Veer Lofts
2200 Westlake
The Cosmopolitan
5th and Madison
Escala Condos
1521 Condominiums
Cristalla Condos
Bellora Condos
Concord  Condos
The Vine
The Parc
Mosler Lofts
Madison Lofts
Gallery

Gallery, located at 2911 2nd Ave is a concrete and steel structure that hit  Belltown with a splash.  Developed by Schnitzer West, and designed by architects Mithun Architects + Designers + Planners this 13-story community is comprised of 233 units.  Built by PCL Construction, Gallery consists of a variety of floorplans including 18-foot ceiling sky lofts, two-story units, one-plus dens, open-one bedrooms, traditional one bedrooms, traditional two bedrooms, townhomes and penthouses.With an abundance of amenities, a variety of floorplans, and a great location Gallery should continue to be a good project for buyers looking to live in Belltown.

• Unique home plans
• Distinctive common areas
• Designed by Markie Nelson Interior Design
• Landscaped grounds
• Street-level retail
• Solid concrete and steel construction with brick, composite metal, and lap siding
• Secured ProxCard access entrance
• 24/7 full-service concierge
• Storage
• Two-story lobby with marble floors and rotating art
• Fully enclosed garage with controlled access
• On-site surveillance
• Dog area

UCS EXCLUSIVE WEBSITE
________________________________________________________
www.condosatgallery.com

UCS PROJECT GRADE
________________________________________________________

WALKSCORE
_________________________________________________________

UCS just listed this property at the Vine Condos in Seattle.  This is something we do for our clients each time we list or sell their home.  I thought it might be interesting for you to see one.  If you are interesting receiving our “Just Listed” or “Just Sold” e-blasts you can sign up here:

Just Listed

Vine Condos Unit #902

$465,000
MLS# 80616

An 18% Discount Since Last Recorded Sale

1 Bedroom + Den | 2 Bath

1,025 Square Feet

Big Southwest Facing Views of Downtown, the Sound, Mountains and More!

Spacious Design, Beautiful Cabinets, Large Kitchen, 5 Piece Bath, Big Windows and Private Deck with HUGE Views.

Learn More About the Vine Here:

www.thevinecondos.com

www.urbancondospaces.com/the-vine-condos

View this property on Facebook: The Vine

or follow us on Facebook!

Windermere Real Estate Yarrow Bay

Jeff J Reynolds 206.794.1118
jreynolds@urbanimg.com

Do you know of anyone looking to Buy or Sell real estate?   E-mail us at jreynolds@urbanimg.com!

Share and Enjoy:

]]> http://www.urbancondospaces.com/just-listed-the-vine-902/feed 1 http://www.urbancondospaces.com/how-to-buy-a-condo-pick-the-right-window http://www.urbancondospaces.com/how-to-buy-a-condo-pick-the-right-window#comments Wed, 26 May 2010 16:44:55 +0000 admin http://www.urbancondospaces.com/?p=3244 [Continue Reading]]]>

There are number of different strategies you can use when buying your condo.  I think the most important would be to really evaluate why you are purchasing the unit in the first place.  Is it for the view, the amenities, the location or the design?  Regardless of what drives you to purchase, it is important to understand that when you remove emotion and add strategy you are securing a investment that will give you returns for the life of your ownership.  Take a step back and evaluate the conditions.  Let me provide an example.

When clients ask me about view properties, I get to the issue right away.  Your view will never be protected without the developers purchase of “air rights”.  The best Seattle example is the purchase of air rights for Cristalla.  Murray Franklin and Williams Marketing negotiated the purchase of air rights to protect all the west facing views.  In doing so, it added value to the project and led to a very successful sellout.

When air rights are not purchased, this is what happens (see Cosmopolitan).  You will see clearly that the building built wider and taller than the Cosmopolitan completely dwarfed the residential condos and blocked all west facing views.

My advice to buyers in regards to view is to “pick the right window”.  Here are the five steps to make sure you avoid making a mistake with view units:

1.  What floor are you on?

The floor can help you understand how you might be impacted in the future.  Meaning that if you purchased on the 18 floor and a 22 story building pops up directly in your view line, the 23-30th floors would have been a better option.  Assuming you follow step 2.

2.  Talk to the city and find out what the plans are for all surrounding parcels of land.

One of the biggest mistakes we make as homeowners is that we do not do our research.  The city planning office is a great resource.  Take a an hour out of your day and schedule the 15 minutes necessary to meet with the planner.  Ask questions!

3.  Pick a street view.

This one may seem simple.  It is.  When a condo project is built on a corner and has access to street views, you will have multiple units to choose from.  You can alleviate any future frustration of your views being blocked and overpaying for your unit.

4.  Could a view of the city be just as enjoyable as a water-view?

In Seattle, the most attractive views are west facing towards the water.  I can understand why.  However, if you unit was significantly less and you still get a city view, it might be well worth it.  For one, the city views at night are spectacular.  Two, if the surrounding environment is already developed, you can count on your views staying the same for years to come.

5.  Ask your professional.  Read a blog.

In the world of do-it-yourselfers, I think buying real estate is too important to not have a professional that is assisting you.  You can read a previous post of mine that gives my opinion in great detail (buyers agent?).  Condo blogs are a great resource.  I’d like to think that if you read enough of them, your condo IQ will grow immensely.

Resources:

Cristalla Condos
Cosmopolitan Condos

Seattle Condo Blogs:

The Seattle Condo Blog
UrbnLivn.com
Stroupe

I hope you found this post helpful.  Please feel free to contact us with any questions.

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 someone was going to have to budge.

After 2 years of waiting the owners have to be elated. This is pivotal for the success of future sales at the project.  As I mentioned before litigation can be deadly for a condo project.  It strikes fear in buyers, but is much more destructive in terms of financing.  Up until a few weeks ago, many lenders would not touch the project.  I believe that Seattle Bank had financed the last recorded unit.  I was hoping to get additional feedback from the homeowners site dedicated to the lien (www.Molserloftslien.wordpress.com), but it now appears to be password protected.

I can tell you that my friend was thrilled.  I can only imagine the feeling of all the other owners that have been patiently waiting for this time to come.  This should open the door for more buyers to live in the award winning project.

Here are the recorded lien release documents from Chicago Title

release claim lien

lis pendens release

Here are some panos I took last year from the rooftop deck:

Just before I went to bed last night I was looking at my analytics program for the blog.  I know, kind of pathetic but I’m hopelessly addicted.  It shows stats that allow me to understand where readers are coming from, what they are reading and what they are looking for.  It sounds more detailed then it really is.  I can never tell exactly who is reading the blog and from where, but it gives me a pretty good understanding.   The  most fascinating section of these analytic programs are the “search statistics”.  In a nutshell, I can see what has been searched and how that has landed readers on UrbanCondoSpaces.com either purposefully or accidentally.  I thought it would interesting to examine the searched items from yesterday.  It may be helpful for you to understand what is trending in the real estate world.  See below:

Search Terms (Google and Yahoo)

I have your lender for getting deals done at Mosler Lofts.  For any of you that were not aware, there has been a lien between JE Dunn and The Schuster Group/Belltown Developing Partners.  This is not “new” news by any means, but the building has had this hanging over it for quite some time.  You can read an article here from January of 2008 regarding the lien.  Also, you can refer to a site built by Mosler homeowners to discuss the latest in regards to the lien as well (see here)

The lien has truly had an impact on sellers and potential buyers for the project.  I experienced it myself last year as I tried to help a homeowner sell on the third floor.  The response was quite mixed, but there were a significant amount of buyers that did not want to purchase knowing that at that time the lien amount was over 6 million dollars.  Since then the lien has been reduced to 2.7 million due to the latest summary judgement.

So getting back to the positive news.  A friend of mine Chris Allen shared some information with me about a well known Seattle Bank that will lend on Mosler regardless of the current litigation.  This is great news for owners of this fantastic project.  In fact there is a deal pending as we speak that will close using the above mentioned lender.

If you have any questions or want to inquire further about the details of this finding please feel free to contact us at info@urbanimg.com