Drinking The Bellevue Towers Kool-Aid?

Did anyone see the recent newsletter from Bellevue Towers?  If not, I thought I would summarize it for you.

In a nutshell:

  • They centered the attention on the recent change at the Bravern (my postSeattle Times and The Press Release)
  • With the Bravern converting their north tower to apartments, it is their estimation that the Bellevue market inventory has been reduced by a third (1/3).
  • They made a point to show confidence in their position in the Bellevue condo market.
  • They feel that Bellevue Towers has the “best value” luxury homes in the region.
  • They acknowledged that while many projects are renting a portion of their inventory, Bellevue Towers will “continue” their commitment to sales.

For the last 12-18 months, in regards to market confidence, most of us would agree that the condo market (“the inventory”) sends one message and the buyers/readers (“the demand”) believes a little something different. So my question for you is this; what do you believe?

Do you feel that Bellevue Towers has a product offering that is second to none?  Is it better than Washington Square, One Main Street or any of the other Bellevue re-sales? Do you believe with less than a 20% of their inventory officially closed that Bellevue Towers will continue “only” selling their condo inventory for the next 3-4 years?

THE BRAVERN

Other Bellevue (new construction) Condo Projects:

WASHINGTON SQUARE

ONE MAIN STREET


Comments

  1. says

    It’s a very interesting situation Jeff. There is no doubt that Bellevue Towers is a great property, but they continue to struggle with marketing, negotiations and getting real with today’s market.

    They may also have chosen to go with the rental market for awhile too, but I’m not sure they have the strength to last another three or four years. I hope for their sakes that the market turns around soon – and that they look at pricing to what the market will bear – not what their proformas say their profit should be.

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