Jun
29
2009
Green is the new buzzword in new Seattle condo building construction –– just in case you haven’t noticed. But what makes a building “green” and who gets to make that claim?
Basically, a building that is designed, built, or fixed up for a new purpose in a resource-efficient way can call itself green. Some builders stretch the limits of the word… they may use a few materials such as bamboo flooring and water-saving plumbing and call it good (i.e. green). Others may take the concept seriously and meet certain global objectives, including using materials that protect both the environment and the long-term health of the occupant.
To truly be a green building it all needs to start at the ground level, with the owners, the designers and the architects. The building needs to be sustainable, which means it has to reduce its overall impact on the environment. Energy use, water use, integrated systems throughout the structure are the fundamentals of green building, and what ultimately affect its surroundings.
If you’re interested in living in a green condo building, here are a few questions you can ask when shopping for your next living space:
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Jun
20
2009
One of Seattle’s most desirable neighborhoods, Green Lake is also a perfect mirror of the real estate times. Anyone who has been living in the area, or heading over to work out on the 2.8 mile paved loop around the lake can’t have helped but notice buildings going up, and BIG holes being dug down.
The biggest question mark right now is, of course, what’s up with the city-block-size hole at the corner of Woodlawn Ave. NE and NE 71st St. – the site of the old Vitamilk Dairy complex? Vitamilk (a family run business that operated from 1940-2003) still owns the three-acre site, which will be developed by Lorig Associates into a mixed-use property named Park 71.
Included in the grand plan: a three-story complex with underground parking, a major anchor tenant (such as a high-end grocery Continue Reading »
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Jun
15
2009
It’s been 13 years since the FHA changed its approval process for insured mortgage financing on individual condo units. But late last week the FHA transferred authority directly to the lenders who can now determine if a condominium project, after meeting FHA-HUD regulations, is eligible for the insured financing. If the building has not yet completed all the requirements, the lender can offer “spot approval,” financing that can be funded on a limited basis and which takes the burden off the buyer. Buyers can now put down a lowest-ever 3.5 percent on approved condo buildings –– incredible in the condo market of today, where even buyers with good credit ratings are having a hard time obtaining a loan. An extra bonus is Continue Reading »
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Jun
12
2009
Thornton Place Condos offer Summer Incentives for Easy Breezy Northgate Living
Thornton Place is the new buzz around Northgate – one of six Seattle neighborhoods identified for urban renewal by the Mayor’s office. It’s big, it’s classy, it’s convenient, its design is sleek and airy, and its mixed use, community-focused goals are bound to set a precedent in the greater Seattle area. Six separate buildings constitute a European-style village where staircases weave together private areas with the open space plaza, all incorporated within the natural parkland surrounding Thornton Creek.
Seattle-based and family-owned Lorig is a highly respected developer with a track record of community involvement. Mithun, who designed the REI Continue Reading »
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Jun
10
2009
Although the housing sales pendulum is still swinging, we Seattle area residents are starting to feel a little less dizzy these days. Because the Northwest market has not fallen nearly as far as other areas – like California, Arizona, and Florida, for instance – our rebound has been a little quicker. That all has to do with the fact that the economic climate here was not quite as stormy as in much of the rest of the country. Knock on wood.
One buzz word that seems to be surfacing these days is “overvaluation” – that is, that with the big boom in tech and other industry in the past five to eight years, housing prices climbed much faster than anywhere else. So right now, given the bust in some of those industries, our market is Continue Reading »
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Jun
02
2009
From the National Association of Realtors’ (NAR) Pending Home Sales Index, and based on contracts signed in April, pending house sales are up 6.7% – the highest monthly jump in seven years. Between the first-time homebuyer’s tax credit and low mortgage rates, home sales are on the rise for the third straight month, and up nearly 3.2% since a year ago.
Because of the date limitations of the tax credit (December 1, 2009), the NAR expects a flurry of buying activity over the next six months, both by first-time buyers and, as a result, repeat buyers. Nationally, the present median price for a single-family home sits right about at $170,000. The Northeast saw the highest jump on pending sales (33%); The West (the third highest on the list) saw a 1.8% increase.
The 30-year fixed mortgage rate rose yesterday; April 28 saw the lowest level since 1998 (when the first records appeared).
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Jun
01
2009
For those of you with some cash in your pockets and a desire for fine living in the heart of Seattle, the condominium auctions roll on, even despite the turnaround shift in the market. Numerous new constructions have taken their wares to the auction block to sell-out crowds, almost every time.
LUMEN just announced it will bring 19 brand new condos to auction in July. Located at 501 Roy St., Lumen offers beautiful living space with lots of great natural light (hence “lumen”). The condos, originally priced between $352,000 and $1.7 million, are accepting starting bids from $155,000 to $750,000. Square footage ranges from 630 – 2,082 in configurations from one bedroom/one bath to 2 bedrooms/den/and three baths.
The building sits at the northern edge of downtown Seattle, a close distance to the city’s best shopping, restaurants, theaters, and Lake Union. The construction is contemporary and offers a superb blend of comfort and elegance. Each condo home includes access to beautiful outdoor Continue Reading »
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