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July 2015

This Weeks High and Low and Everything in Between

Each week we are going to highlight the highest priced condo and lowest priced condo to sell in Seattle during the previous week, not including distressed (bank owned or short sale) properties. We will also give you the averages for everything in between that sold in Seattle that week.

Here is the high, the low and everything in between for the week of July 20th through the 26th.

The High:
#3E at One 11 Condominium – 111 W Highland Dr in Queen Anne
High 7.20.15

  • List Price: $2,200,000
  • Sold Price: $2,150,000
  • 2bd 2.5ba
  • 2,764 square feet
  • Price/Sq Ft: $777.86
  • Built 1974
  • Days on market: 117

Continue reading "This Weeks High and Low and Everything in Between" »


New Condominium Project Announced- Gridiron Condos Coming to Pioneer Square

Gridiron
According to a recent article in the PSBJ, it looks like our city’s 6th new construction condo project since the recession will be breaking ground soon.  Gridiron Condos will be built by developer Daniels Real Estate on a site adjacent to CenturyLink Field on 1st Ave.  This is the same site that has been in the works for a few years and was previously going to be called Stadium Lofts.  It will be 107 new units built atop the current brick building and will have restaurant and bar space on the main and mezzanine levels.

Gridiron will be the 6th post-recession condo project to break ground here in our city, assuming they move forward with the plans to start site work in about two weeks.

With the velocity of pre-sales in the some of Seattle’s recent condo projects that have started pre-sales, including Insignia (Downtown), Vik and Solo Lofts (Ballard), and most recently Luma (First Hill), I would expect the demand to also be high for condos in Pioneer Square. There have not been new condo options for buyers to choose from in Pioneer Square in over 8 years.  The last two being condo conversions at The Nord and Jackson Square, both located just a few city blocks to the north of the Gridiron site.

I do not yet know the specifics on unit pricing or floor plans, but will reach out to the developer and see what information is available and will report as I learn more.

By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.


This Weeks High and Low and Everything in Between

Each week we are going to highlight the highest priced condo and lowest priced condo to sell in Seattle during the previous week, not including distressed (bank owned or short sale) properties. We will also give you the averages for everything in between that sold in Seattle that week.

Here is the high, the low and everything in between for the week of July 13th through the 19th.

The High:
#2200 at Fifteen Twenty-One – 1521 2nd Ave Downtown
High 7.13.15

  • List Price: $2,400,000
  • Sold Price: $2,400,000
  • 2bd 1.75ba
  • 1,824 square feet
  • Price/Sq Ft: $1,315.79
  • Built 2008
  • Days on market: 2

 

Continue reading "This Weeks High and Low and Everything in Between" »


First Look at Insignia's Amenities

Having been inside of Insignia's south tower and seeing the amenities in person, they are quite impressive. Especially the park area on floor 7. We thought you all would enjoy seeing these videos and photos we took of Seattle's newest high rise condominium tower's amenity package. Also, to note, with the north tower still under construction this is only about half of the amenities that will be available to residents once both towers are compete.

 

Continue reading "First Look at Insignia's Amenities" »


A Tale of Two Lenders

Mortgage_AppThe quality difference between individual lenders, like any profession, has always been wide spread as has the spread between different banks/lending institutions. As the market becomes more and more heated and closing dates become shorter, who you choose to work with as your lender has a greater impact on your success as a buyer than it used to.

We understand that often times the bottom line when selecting a lender is cost. And though this makes a lot of sense, it is important to understand all aspects of the purchase transaction so you can make a better more well informed decision that considers costs and other important factors.

A true story of two lenders:

Both stories are similar where a heated market with multiple offers caused the need for a quick close.

In blue is the story of our sellers selling a condo in Belltown that received multiple offers and sold within the first week above asking price. These buyers even put 25% down.

In orange is the story of our buyers who purchased a home with 10 offers, also selling way above list price.  These buyers put 20% down.

Our Seller’s reach mutual acceptance on 6/18
Our Buyer’s reach mutual acceptance on 6/25

The Lender on our seller’s deal is out of state in California
Our Buyer’s chose to work with our local Seattle recommended lender team (which was part of the reason they were selected as the winning offer out of 10, according to the listing agent)

Our Seller’s deal was set to close on 7/8/15 (3 week closing)
Our Buyer’s deal was set to close on 7/15/15 (3 week closing)

Continue reading "A Tale of Two Lenders" »


This Weeks High and Low and Everything in Between

Each week we are going to highlight the highest priced condo and lowest priced condo to sell in Seattle during the previous week, not including distressed (bank owned or short sale) properties. We will also give you the averages for everything in between that sold in Seattle that week.

Here is the high, the low and everything in between for the week of July 6th through the 12th.

The High:

#2101 at Fifteen Twenty-One – 1521 2nd Ave Downtown
High 7.6.15

  • List Price: $2,100,000
  • Sold Price: $2,100,000
  • 2bd 1.75ba
  • 1,968 square feet
  • Price/Sq Ft: $1,067.07
  • Built 2008
  • Days on market: 1

 

Continue reading "This Weeks High and Low and Everything in Between" »


Interesting Details at Insignia

As several of our clients get ready to close on their homes in Insignia's south tower, I have been able to walk through several units as well as the amenities and shared areas of the building. I wanted to share with you what interesting things (both pro and con) I have noticed while in the building for the first few times with our clients.

Interesting Details:

  • Some of the bottom surfaces of the covered decks are the same copper that match the unique copper entrance to the building- it looks really coolPet Lounge
  • The closets were outfitted with lights - which might seem like a small thing but living in a condo now that doesn't have them, it is really a useful thing!
  • There is a lack of overhead lights in the bedrooms, dining and living rooms- so plan to bring your lighting!
  • The decks have overhead lights making them even more usable at night and in the winter months
  • The decks and patios also have electrical outlets which is a nice touch that is rare in highrise condos
  • The dog park has an actual toilet, yes I said toilet, for flushing down pet poop, not to mention it's also on the 41st floor roof, so it's likely the best pet area in the city right now in my opinion (pictures above)
  • The views are absolutely amazing from the 41st level amenities and all of the rooms up there offer views that are more expansive then expected
  • The west facing podium level units are not as close to the monorail as you would think and are actually quite pleasing
  • The 7th floor park is very vast and now that only 1/2 of it is completed, I can hardly wait to see how large it is when the north tower is complete
  • The two level fitness center is very generous with it's amount of equipment, the size of the facility, and diverse options that even include several Pilates reformers (which I have not seen, as of yet, in condo fitness centers)

I look forward to hearing all of your thoughts on Insignia and how it turned out.

By Marco Kronen with Seattle Condo Review: A guide to 
Seattle downtown condos.


This Weeks High and Low and Everything in Between

Each week we are going to highlight the highest priced condo and lowest priced condo to sell in Seattle during the previous week, not including distressed (bank owned or short sale) properties. We will also give you the averages for everything in between that sold in Seattle that week.

Here is the high, the low and everything in between for the week of June 22nd through the 28th.

The High:

#1902 at Fifteen Twenty-One – 1521 2nd Ave Downtown
High 6.22.15

  • List Price: $1,650,000
  • Sold Price: $1,600,000
  • 2bd 1.75ba
  • 1,729 square feet
  • Price/Sq Ft: $925.39
  • Built 2008
  • Days on market: 74

The Low:

#110 at Linden Park Condos - 13717 Linden Ave N in Bitter Lake
Low 6.22.15

  • List Price: $125,000
  • Sold Price: $125,000
  • 1bd 1ba
  • 703 square feet
  • Price/Sq Ft: $177.81
  • Built 1982
  • Days on Market: 4

Everything in between:

  • 57 condos sold in Seattle
  • Average List Price: $452,442
  • Average Sold Price: $455,243
  • Average Square Footage: 1,031
  • Average Price/Sq Ft: $431.75
  • Average Days on Market: 23

By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.