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...]

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...]

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...]

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...]

The Home Buying Tax Credit-Don’t Hit The Panic Button

Don't Panic-2010-tax-credit

The Federal home buying tax credit is set to expire soon.  One must have a valid contract by April 30th and must close by the end of June.  Let me make this very clear.  Don't Panic.  In fact, the last thing that you want to do is to rush into a purchase that you don't believe in.  Although the tax credit is $8,000 or $6,500 for qualifying taxpayers, it makes no sense … [Read more...]

Veer Lofts-Pricing and Activity Update

Veer lofts

Quite a few UCS readers have been curious how Veer Lofts in South Lake Union is doing in terms of sales and activity.  I reached out to Matrix and courtesy of Nick Jarman and Kim Tate, please see below for an update on the project.  If anyone needs any additional information, please e-mail us or use our contact form on the home page. From Nick's e-mail: We currently have 84 … [Read more...]

Condo at the Cosmopolitan Reduced by 56%

Cosmopolitan

This is something you don't see everyday. There is a condo on the 27th floor at the Cosmopolitan that will go auction at $385,000. That is a $490,000 reduction from the current listed price for this unit see here: Unit 2704. This is a remarkable opportunity to purchase, that will be over at about 11:30am when the auction at King County is complete. Let me explain how it … [Read more...]