Sep
27
2009
The Gallery Auction was held tonight at the Hyatt hotel in Seattle. I attended with a buyer who was interested in a unit at this condominium. There was a full room of people, it looked as though there was close to 350 seats and they were all filled. Some of the bidding seemed to be emotional and the following table shows the results of the auction. All the units sold and there were multiple bidders on all of the units. Four units were added just prior to the auction. Click on chart to enlarge.
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Sep
02
2009
If you’ve convinced yourself that you need to give up your dream of living in downtown Seattle, in a luxury condo with a view, here’s a chance to rethink that. Multiple units of different sizes in Belltown’s upscale Gallery building are going to auction on Sept. 27 with a wide range of affordable starting bids. Schnitzer West, the Northwest development company, is including units in Gallery in its auction plan (along with Brix – see previous Blog), in the hopes of shrinking Seattle’s condo vacancy rate. When we see this begin to happen, then we know the market is beginning its climb toward stability and we’ll all see prices level out. For now, both first-time homebuyers (remember that $8,000 tax credit due to expire on Nov. 1), as well as those looking for a way to move up, will see the Gallery condo auction as a unique opportunity worth jumping on. Gallery condos, at 2911 Second Ave. offer upscale urban living in Continue Reading »
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Aug
29
2009
A variety of units in Brix, the brand new condo building in the heart of Seattle’s Capital Hill neighborhood, are going up for auction on Sunday, Sept. 27. With the $8,000 first-time homebuyer tax credit (due to expire Nov. 1) and opening bid prices that are attractive to everyone, this is a fantastic time to buy a premier urban home. The Northwest development company, Schnitzer West, is doing its part to help stabilize the Seattle condo market pricing. By strategically offering a significant number of units for auction in a variety of new, up-scale buildings, the vacancy rate goes down which means the absorption rate goes up and the market can begin to find its balance again. Brix, located right in the center of energetic Capital Hill, at 536 Broadway, will have 40 two-story loft and Continue Reading »
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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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