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February 2017
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March 2017

Coffee Table Chat Video Series - What is the Cost of Waiting to Buy?

Coffee Table Chat - Episode 4
Our video series addressing actual client questions and concerns in our current market. They will cover whatever issues our clients are experiencing and will typically feature a guest who also works in the industry such as a lender, an Escrow closer, a Title rep, etc.

Hopefully you find the videos informative and helpful!

Enjoy Episode 4! "What is the cost of waiting to buy?"



Want to check out the Cost of Waiting Analysis tool? Click here! Have questions, reach out to myself or Jay Crowell and we can help you out.

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


NEXUS 75% Sold

NexusAfter converting their reservation holders into Purchase and Sale Agreements, NEXUS released all unsold homes to the public on Saturday March 18th. Following the conversion of the reservations and that grand opening event, 286 of the 382 homes are sold, a staggering 75%. The remaining 96 homes are in the $800's and up. No studio or open one bedroom plans remain and no lower floor one bedroom homes are left either.

With NEXUS as the only new construction high rise likely to deliver homes before the start of the next decade, there is a lot of pent up demand for new construction condo product in Seattle. Other reasons for the high amount of demand? Commutes increasing within the region are driving people back into the city center. In-migration from Silicon Valley residents due to the relative affordability of real estate, the abundant number of tech jobs available, high incomes and the added bonus that we don't have a state income tax. Also leading to demand,  the ability to combine condo units into a larger format home, which is a unique opportunity that can be hard to come across with resale condominiums for obvious reasons.

If you missed out on the grand opening event, but are looking for a higher floor 1 bedroom or a 2 bedroom home at NEXUS, there are still opportunities to buy and we are happy to help you navigate the remaining inventory.

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


NEXUS VIP Reception

We attended the NEXUS VIP Reception last night and were able to tour the full sized two bedroom model home within the sales center and learn more about the innovative technology that will be available in NEXUS.

Public sales begin this Saturday March 18th at 11am at the Sales Center.

The technology component was the most interesting and unique feature we learned about. The system is called Xen and it uses one interface to consolidate building information including your reservation  requests, parking, messages, packages, etc.,  automations you can customize for your lighting, music, window coverings, etc., energy usage with an eco score, a marketplace function, and other nifty features like being able to lock or unlock your door remotely. There is an interface with Amazon's Alexa as well. We were impressed with everything that you can do with this system and it is truly unique to this building at this point. We plan to do a more detailed article about the system for you so you can really hear about what is possible so stay tuned for that.

VIP Reception9 VIP Reception10
















The model home was a nice representation of what a two bedroom condo will feel like at NEXUS. To us, the finishes and layout felt most similar to Insignia. A couple of things to note, the bedrooms were on the smaller size, at least in this floorplan. Also, the cooktops will not be gas and we know this can be a deal killer for some people so we thought it was worth mentioning.

VIP Reception11 VIP Reception14  VIP Reception3 VIP Reception8


NEXUS Ground Breaking

Ground Breaking4NEXUS condominiums had their ground breaking ceremony this morning. Present were representatives from Burrard Group who is the Developer on the project, Weber Thompson who is the architect, interior designer and landscape architect for the project, Realogic's Sotheby's International Realty who is the marketing and sales team, a representative from the DSA and Skanska who is the contractor.

They announced that they will open for public sales at 11am sharp on Saturday March 18th at their new sales center. They also indicated that they have listed several of the condominium units for sale on the Northwest Multiple Listing Service, though at the time of this post only one was live on the market.

The ideas and inspirations that were mentioned at the ground breaking were the desire to create a new neighborhood within Downtown Seattle and to build the condos where walkability, transportation and proximity to job centers are key. Also noted was the want to incorporate innovative technology into the building, provide flexible floorplans, implement sustainable living ideas, and put forward a design that was not run of the mill.  They are now calling the Denny Triangle, the neighborhood where NEXUS will be located, the East Village.

We will attend the VIP Reception this evening and report back on any additional information we learn about NEXUS and the sales process.

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


February Market Update - Seattle Condos

The condominium market in Seattle continues to be a seller's market with low inventory and swift sales performance.

The graphs below show statistics for Seattle condominiums for FEBRUARY 2017. Questions, let us know!

SUMMARY:
- Less inventory than last year at this time, down to .6 months' supply
- Higher median sales price than last year at this time, up 21%, to $474,950
- The highest number of sales so far this year are happening at the price point between $500,000 and $750,000
- 54% of listings are selling above list price
- Odds of selling are 106% (less condos coming on the market than are going pending)

YEAR OVER YEAR BASIC STATISTICS - Seattle Condos
Feb 2017 Stats

Continue reading "February Market Update - Seattle Condos" »