What $1M Can Buy You In Seattle, Condo Shopping On Cyber Monday

Insignia Towers

In the spirit of holiday shopping, we thought it would be fun to show you how far $1M would stretch if you were in the mood to purchase a Seattle condo. Here are 3 very different units. All priced at or near $1M. NEW CONSTRUCTION NEIGHBORHOOD - DENNY TRIANGLE PROJECT - INSIGNIA TOWERS Like new? How about a 36th floor 2 bedroom, 2 bath at Seattle's one and only new … [Read more...]

3 Seattle Condos Under Contract In 48 Hours

We are just 14 days into March and there have been 6 Seattle condos that went under contract in less than 48 hours. Just 2 days on the market. We've included three of them below. As an owner, if you were put in a situation to accept an offer the first day on market, or multiple offers after a week on the market - what would you do? 1) Escala  Unit #707  – Downtown Seattle … [Read more...]

Views Are Changing For Condo Owners In South Lake Union

New Amazon_Purchase_web

As a Greek philosopher once said, "The only constant is change".  As a condo owner you have to be prepared for it. Views change from time to time and change is coming to South Lake Union. You may have caught word that Amazon is buying another block of the Clise Properties. As you can see above and below, the block runs from 7th to 8th and from Blanchard to Bell.  This … [Read more...]

Cosmopolitan Condo Prices Inching Back to 2007 Levels

Cosmopolitan_2410

The prices at the Cosmopolitan at 9th and Virginia are inching back to and above their 2007 levels. Unit #2103 just hit the market this morning with an asking price of $429,000. In Purchased in 2007 for $425,950. This is significant as 2007 was often recognized as the peek of the market before the crash. In last 18 months, the Downtown condo market has increased quickly due … [Read more...]

Listen Up Buyers, Finding Value In the Seattle Condo Market

Cosmo_#2710_buyers

Buyers, listen up. There are still ways to find value in the market. Let me use an example at the Cosmopolitan. In 2007, unit 2710 sold for $552,450. Back in late November of last year, this same unit came on the market at $325,000. If you went to the open house or toured during that first day on the market, you may have been disappointed. It was obvious at that time that … [Read more...]

Its Valentines Day, Which Seattle Condo Project Do You Love? (VOTE NOW)

Valentines Day_Which Condo Do You Love?_web

CONDO LOVING In celebration of Valentines Day, lets vote for that special project that we LOVE. I think its safe to say that we are all enamored with condo living - what better way to show our appreciation than voting for our favorite project. Submit your vote below and report back to see the results. Feeling left out? Don't be, we added a section to nominate a project on … [Read more...]

Multiple Offers Driving Condo Prices Up In Downtown

The Cosmopolitan

Rising condo prices are a much bigger story that I will touch on after the first of the year. In the meantime, did you notice this sale at the Cosmopolitan? Unit #2803 was listed last month for $339,000, it sold in 2 days at a price of $361,500. I'm continuing to see this all over the city. This will continue until we see new inventory. Prices are going up. … [Read more...]

Short Sale At Cosmopolitan, $552,450 In 2007, Now $325,000 (Analysis Included)

Cosmopolitan_#2710_final

There is a new short sale at the Cosmopolitan (9th & Virginia - Denny Triangle). Unit #2710, bought for $552,450 in 2007 is now listed at $325,000 (talk about a market correction!) So how does this unit compare to recent sales in the building? I've put together a list of 1 bedroom sales in the last 6 months. It is important when analyzing views, condition of the unit and … [Read more...]

2 Bedroom Seattle Condo That Cash Flows

Just _ Sold Cosmopolitan #1904_web

Ok, I don't always analyze investments for you guys, but this one makes too much sense. It is an example of a good condo, that has great upside from a cash-flow perspective and long term investment potential. Unit #1904 just closed this week. It is a 2 bedroom, 2 bath at 1,195 sq. ft. The sale price was $529,950. Here is the scenario: Purchase price: $529,950 Down … [Read more...]

2 Bedroom Condo At the Cosmopolitan, Last Sold at $601,950, Now $380,000

Twilight 2

Looking to buy a foreclosure? Unit #1104 at the Cosmopolitan is headed to auction tomorrow. It is a 2 bed, 2 bath with 1,186 sf.  The last recorded sale was in 2007 for $601,950. Now just 5 years later the bank is offering a minimum bid of $380,000 for the 11th floor unit. Good deal? Take a look at comps and decide for yourself.  If you want my opinion or you want to take a … [Read more...]

Just Sold, 31st Floor at the Cosmopolitan

JUST SOLD_UNIT #3103

We just sold this 31st floor unit at the Cosmopolitan. It was a short sale and our buyer had to compete with multiple offers.  It is a good reminder that when you write an offer, it is not just what you write but how your write it. Congrats to our client, who now owns a super cool unit 31 stories above ground! JUST SOLD 819 Virginia St #3103, Seattle SOLD for $310,000 1 … [Read more...]

Olive 8 Adds New Listings, How Do The Asking Prices Compare To Downtown Seattle Inventory?

Downtown Condo Comparison_final

Did any of you notice the increase in "listed" inventory at Olive 8?  I was going through the last couple days of newly listed condominiums in downtown and found that Olive 8 just added 12 new listings to the market. They range in size from 808 to 1,586 sq ft. The lowest priced unit is $490,000 and the highest is $895,000 at an average cost per square foot of $626. That made me … [Read more...]

How Amazon’s New Development Could Impact Seattle Condo Views

How Amazon's New Development Could Impact Condo Views

I heard from a client of ours last week who was inquiring about how the new Amazon development could change the views at 2200 Westlake. I decided to do some research and as you can see, I was able to diagram some of the potential changes below. In my opinion, the biggest impact would be on the Southwest side of 2200 Westlake (photo 1), The South side of Enso (photo 2) and … [Read more...]

Great Rental Unit At The Cosmopolitan

Cosmopolitan #2202

Just a quick heads up if you are looking for a 2 bedroom rental. A view unit at the Cosmopolitan just hit the market today for $2,500 per month. The "02" stack is one of my favorite floor plans. It has 2 bedrooms, 2 baths and a den.  It is definitely worth considering.  Your just 2 blocks from Whole Foods, a short walk from Pacific Place and the building is full of amenities … [Read more...]