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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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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Jul
05
2009
Is actually isn’t easy being green, validating the theme of a certain puppet frog …
In fact, while any builder can claim their building is “green” just by including some recycled materials, there are certain standards and awards that designers, architects, and builders can strive for. If you’re truly aiming to live in a green building, look for those with LEED approval.
LEED is the gold standard for green––its acronym stands for Leadership in Energy and Environmental Design. A LEED certification comes from the U.S. Green Building Council (USGBC), which is an alliance of leaders––10,000 international membership organizations––from every aspect of the building industry who first gathered in the late 1990s to come up with a rating system for “green” buildings. Builders can build to the high standards Continue Reading »
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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
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
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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Aug
21
2008
The Moda condominium entry level condo development in the Seattle Area was switched from condos to rental apartments as reported in the Seattle Times. The building was offering 250 condominiums that were as small as 296 sq ft and started at approximately $150,000. Many building slated for condominiums are switching to apartments or are not being built . In my opinion in the long run if this continues it will cause a shortage of available condominiums in the area with projected regional area growth predictions. Vacancies in the area are quite low and rents are rising. Rent in one of the condominiums I own in Downtown Seattle increased about 20 percent from last year and. Buyers are currently waiting for prices to drop significantly and in a growing area like Seattle with new supply being eliminated has to ask will that happen.
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Jun
23
2008
Received a call today from Bernard Troy of King 5 news. He is doing a story on Madison lofts and how prices are dropping. I gave him inputs about other projects where we are seeing price drops also. One of the projects I mentioned is the Cosmopolitan where I happen to own an investment unit.
Buyers might be able to get a better deal on a condo that is 2-3 years old than buying new. But isn’t this the case with buying a new car! If you buy a car a couple of years old you can get a significant price savings, but car buyers do buy new cars. Why? because they like the feel of a new car. This seems to be the case with condos and houses.
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