Seattle Condo Review: Blog with News & Advice about Seattle Condos

Seattle Condo Market update

Spring is here so let's see how the numbers are looking.  For the month of March, inventory remains high in Seattle at 52.43% compared to same time last year.  Year-over-year pending sales dropped 27.76%. In fact, from January to March 08, we have seen a consistent drop in closed sales over the same time last year.  However, in March, median price for Seattle condos increased by 4.11%. 

Days on market remains longer than same time last year for all the neighborhoods.  Months of inventory in Belltown/downtown has recovered from early this year.  In January, Feburary and March, the months inventory has been shrinking from 14, to 8.3 to 7.6.  It looks like we are moving from a buyers' market gradually to a balanced market in Belltown/downtown.  Kudos to those buyers who picked up great deals in January.

Summary: More property is on the market and staying on the market longer than last year; however, sellers are not slashing prices nearly as much as some had expected.  Most homebuyers are taking a little bit longer to decide on their purchase knowing that there is not as much urgency.  Sellers on the other hand are still holding on to the prices they believe their condos ought to command and in some cases are making a symbolic reductions in the price but rarely more than 10%.  For the sellers who can wait, they are opting to rent out their condo to capitalize on the strong rental market.

Flashback: I was curious how many readers were right about their prediction on the market for March 08 compared to Fall 2007?  22% of SCR voters were right that the market will perform the same in March (~5% change in median price) compared to September 07 but sell at a slower rate.  About half of the poll takers incorrectly predicted in October that the pricing in the spring would drop by up to 30%.

-Wendy

McKean Update

McKean's Grand opening is going to be next Thursday (04/03, 6pm-8pm), they opened their doors to the public today.  Only one model unit is available for viewing while the rest of the units are still in the works. Here are some observations from this vintage conversion:

1. Great amount of sunlight for the above ground units.  This is largely due to the big windows and west & southwest orientation.
2. Bathroom is a little tight.  If you are someone who is used to having a large bathroom, this will probably not work for you.  I know it will not work for me ;-)
3. Den area is right next to the entrance with sliding doors that allow you to separate the den from the dinning area and living room.  A nice feature to create privacy if you're having a guest visiting.  The den area is definitely big enough for a office table and chair but not as a full scale office if you work from home full-time.
4. #401 has the best view! (Picture above)
5. The homeowner dues are going to be in the $300's/month which is fairly reasonable for a building this age.

Floor Plan.

Overall, the building is in a pretty good shape, interior work is done nicely, it's a little out of the way (from all the conveniences) but at least it comes with parking space (uncovered) which a lot of vintage conversion projects lack.

-Wendy

McKean-Vintage Conversion

McKean vintage conversion condos set on Queen Anne (1404 Olympic Way West) will have its grand opening next Thursday, April 3rd from 6pm to 8pm.  This boutique conversion project features eight one-bedrooms and one bedroom plus den homes retained in an original 1929 brick exterior. Two ground-floor homes start at $334,950. Most homes will come with views with prices starting from $409,950.  Here are some of the details:

• Authentic archictectural details- The 762 square foot homes feature original hardwood floors and window frames, original hex-tile bathroom flooring, refinished cast-iron tubs, archways from living to dining, and dining to kitchen, and high ceilings that arch into walls.
• Building has been re-wired, re-insulated and replumbed.
• Kitchens are fully updated with espresso-stained cabinets (some with glass inset doors) that extend to the ceiling, finished with crown molding, slab granite countertops with subway tile backsplash and tile flooring, stainless-steel appliances, under cabinet lighting, 8" deep stainless steel sink, and gas range.
• Each unit has a front and back door. Reserved off-street parking is located at the rear of the building with a bridge into the back entrance (now you know why you need a 2nd door). Each home comes with a storage unit.

Homebuyers interested in this project can register at their website. The condo will officially open for weekend tours on Saturday and Sunday, April 5th & 6th from 12pm to 6pm.

-Wendy

Reverse Conversion: Expo 62

In an interesting twist and contrast to all the aparment-to-condo conversions we saw in 2006 and 2007, Expo 62 has converted from pre-sale condos to "luxury apartment rentals" for summer of 2008. You can see their placeholder one-page website here. Read more on Seattle PI.

This unexpected change is further evidence that developers are not able to unload new condos at the frenetic pace of a couple years ago (seems like yesterday when Cosmopolitan practically sold out in 1 day before the ground was even broken). It's also another data point on the rental market becoming increasingly attractive for investors to pay their bankers' interest and perhaps earn a little income while the sales market takes time to firm up again.  In fact, I wouldn't be surprised if they switch back to condos in a few years.   

-Wendy

Condo Purchase Post Mortem Analysis

In a recent post, we looked at three projects completed last year and how closely the developers delivered on what they promised. Nothing beats hearing first-hand experience from homeowners who actually bought into these condos. I interviewed three buyers and summarized their responses below.

Two of these homeowners were represented by me and one is an SCR reader for whom I worked on a different subsequent property. If buying a pre-sale condo as your primary residence is one of your New Year's resolutions, you may want to get some insights from some folks who preceded you in the Seattle condo market.

Mosler Lofts

1.) What sold you on this condo?
    
Primarily the location but also the price per square foot and the particular unit available.

2.) How closely did the developer deliver (concept, compared to the rendering, architectural design, model unit versus your unit, overall finishes etc.)
         
Very accurate on the concept. Did not review a model unit but floor plan was pretty close to the actual.

3.) How was the overall buying process for you?
         
Unsatisfactory delays and poor communication by developer and developer's agent.

4.) Do you have any advice for first time new construction buyers?
          
Review the developer's track record and also the developer's agent. Negotiate upfront remedies for delays and/or be prepared for them.

Where in Seattle will the investor money go in 2008?

Pre-Construction Marketing versus Reality

One of the questions new construction home buyers often ask is, "How do we know that the condo we are buying is going to be close to what is being promised, the perfectly lighted model unit, and dainty plastic diorama?"

The truth of the matter is that the display model, renderings, brochures and any advertising materials are tools for the developer to communicate a concept but they have (and will excercise) the right to make modifications during the actual construction. The best developers and marketers will not overpromise and stay very true to the spirit of the concept marketed. In terms of legal recourse, there's a wide grey area between the developer making some tweaks and serious false advertising. This kind of risk only increases the value of buying from a developer and the project's marketing firm which both have long, verifiable, and positive track records of promoting and delivering well-designed, quality product on spec, and on time. 

So how good are developers at keeping their promises? When I started this blog almost two years ago, many new construction projects were already in the works. I thought it would be neat to take a look at a few examples: Mosler Lofts, Lumen and The Parc and compare their marketed concepts to the actual delivered product.

Mosler Lofts (Marketed by Williams Marketing, Developed by Schuster Group)

       Advertised                             Actual

I have to say that among the three condos marketed a couple of years ago, Mosler Lofts's exterior is extremely close to what was advertised -- many people feel it looks even better than the pre-sales renderings. Its glass and brick combination has a very solid feel, almost a cross between Avenue One and Bellora condos. As for the interior, the finishes presented in the sales center are also very close. One nit: some pre-sales buyers were surprised by the large exposed metal ducts below the ceilings and unpainted concrete ceilings. (To be fair, these ducts appeared on the floor plan documentation but I've heard from a few buyers that it wasn't obvious to them when they were at the sales center.)

Lastly, Mosler Lofts was projected for June 2007 occupancy and started the move-ins in November 2007. This was partly due to a 1 month concrete strike in August 2006 and partly a bad estimate.

      Avenue One                               Bellora

Seattle Condo Tour

This month, Fisher Broadcasting has organized a Condo tour for homebuyers to check out a list of participating new construction and conversion projects in several neighborhoods. If you have just started the search process, this may be a good chance to make use of their map to get around to check out the condos. (You may also find my SCR Map useful.)  Fisher Broadcasting is providing a complimentary shuttle service to cart you around from sales center to sales center.

One thing to keep in mind is that if you plan on using a Realtor to represent you if/when you buy, be mindful when you register at the sales centers. Just fill in your Realtor's name when they ask if you are working with a Realtor, otherwise you risk needing to pay more out of pocket or getting limited service should you retain the services of a Realtor later.   

When: September 22nd & September 23rd (Saturday & Sunday)

Where :Shuttle service starts at Fisher Plaza (11.00am)

List of condos : visit www.SeattleCondoTour.com

Related posts:

Do you really need a buyer's agent?
Pre-construction purchase
Picking and working with a Realtor

-About Wendy

Open House Sat & Sun - Come say hello

I've been getting lots of questions about the different projects in Capitol Hill and Queen Anne.

If you'd like to chat in person about the market in general or specific projects you're curious about, I'll be hosting open houses in Eastlake and Queen Anne this weekend. If you are in the neighborhood, feel free to pop by to say hello and I'll be happy to give you the inside scoop.

Saturday (08/11) 1-4PM Eastlake View Condo
Sunday (08/12) 1-4PM loft in Queen Anne

-About Wendy

The Pittsburgh

The Pittsburgh conversion on lower Queen Anne developed by Pioneer Property Group has started sales on their one bedroom units.

This three story apartment conversion comprises 4 buildings with 2 of them connected by one single entrance located along Warren Ave N and includes studios and one bedroom units. The 3rd and 4th building have a different exterior design also connected by one single entrance. These are located on the corner of Warren Ave N and John St and only come with 2 bedroom units.

Along the same street to the south of Pittsburgh is a new apartment construction project, Barrientos, which is slated for completion in Oct this year. The brick facade for this apartment will create a consistent look for Warren Ave N.

Compared to Queen’s Court, the Pittsburgh has more extensive work being done and the ceiling heights in the units are taller as well. 

Luxe Condos Update

Luxe condominiums will be starting their pre-sales event this weekend for priority registrants. This Queen Anne conversion will feature one bedroom, two bedroom and penthouse units. Prices start at the mid $300,000's with estimated move in date around early July.

Brought to you by the same developer who converted Plaza Del Sol and Mezzo on Capitol Hill, Luxe condominiums interior will feature the following finishes:

• African Tay / Koto wood cabinets
• Cork, marble and hardwood flooring
• Designer inlaid tile in bath
• Custom kitchen countertops with inlaid mother of pearl
• Full height Italian tile backsplash in kitchen and stainless steel appliances

The developer did a pretty good job in Plaza Del Sol and Mezzo conversions. It is also unusual to find hardwood floorings in a wood framed building -- this will be a major attraction for the top floor owners -- potentially a mixed blessing for those with upstairs neighbors. We'll have to see if they carry out similar work in Luxe.

Slideshow on Luxe condos.

-Wendy

Technorati Tags: Queen Anne Condos, Queen Anne conversions, Seattle real estate, Miller condominiums, Seattle condos, Luxe condos, Seattle Real Estate

Lumen Seattle

Since I started this blog over a year ago, many things have taken place. Planned projects went under construction, conversions occured in several neighborhoods near the Seattle urban core, tenants have been displaced, height restrictions were lifted, rental rates have gone up and of course, more planned projects seem to be announced every few weeks.

One of the projects that is near to completion is Lumen, probably one of the most unique condos in Seattle. Their design emphasizes on efficient use of space, clean line and sleek look.

Last week Lumen had a home tour where they unveiled to the public three homes styled by renowned designer, Garret Cord Werner, Kasala and Roche Bobois. If you have visited the previous sale center which showcased their open one bedroom floor plan, (they just moved the center into one of their courtyard units.) you’ll probably remember the contemporary bed with hidden storage below the mattress and cupboard that serves as a dividing wall between the living and bedroom area. That was styled by Garret Cord. The furniture is now in a courtyard open one bedroom unit.

Luxe Condos

Luxe Condominiums, a new conversion on Queen Anne is coming on the market soon. The building will offer 39 units with one bedroom, two bedroom and penthouse layouts. Square footage will range from 649 -1,700. The grand opening is set for sometime in June.

Other Queen Anne conversions:

-Andiamo
-Serana
-Queen's Court
-The Pittburgh

-Wendy

Technorati Tags: Queen Anne Condos, Queen Anne conversions, Seattle real estate, Miller condominiums, Seattle condos, Luxe condos

22 West Lee

22 West Lee had its grand opening last weekend and 3 out of their 20 units were sold. The condo sits close to the top of Queen Anne Hill and offers 4 different layouts with two bedroom and two bedroom plus den floor plans. I particularly liked the top floor units as they come with air conditioning and have an extra 6 inches ceiling height than lower floor units.

So far, I’m most impressed with their 503 & 603 floor plan. While the space could be more efficient without the long entry way, the open floor plan in the living area with windows on most sides of the room provides expansive views of the neighborhood as well as the Puget Sound.

If you appreciate a huge master bathroom and fire place, 01 floor plan is the way to go. The only trade off is you don’t really get as much view as the 03 floor plan. The 04 floor plan has a smaller master bedroom but it comes with a large balcony. 02 layout seems to be the most efficient but has fewer windows. The floor plan is also the most common layout that you probably can find in other condo buildings. Each unit comes with two parking so you don’t really have to worry too much about street parking.

Here are some of my impressions of the condo:

Expo 62 update

Expo 62 condos had a low profile sneak preview last Friday for the public which started at 7:00am. One would think that 7:00am is early for any type of preview event. Nevertheless, the sales center commented to me that they have homebuyers standing at the sales center door even earlier on preview day. So what's so special about Expo?

Designed by Weber +Thompson and developed by a member of the Intra-corp companies, this built green project in Queen Anne will feature 114 unit condominiums with 48(!) different layouts. They include the following floor plans:

- Studio
- Open one bedroom
- One bedroom plus den
- Two bedroom
- Three bedroom penthouse

   

In addition to the floor plans above, 13 live/work lofts will also be available on the street level. A combination of handi plank, metal and mondarin style (compositions of brightly colored rectangular forms) windows is used for the building exterior.

The building amenities will be designed by Robin Chell Design whose recent project includes the Parc condos. Completion is slated for summer 2008 and more firm pricing will be available in a few weeks’ time.

Preliminary Expo 62 price ranges

(Update 01/17/2008: Expo 62 has converted from pre-sale condos to "luxury apartment rentals" for summer of 2008.) Read more here.

22 West Lee Grand Opening

Update: 22 West Lee has changed their Grand opening day to April 21st.

Date: Saturday, April 21st and Sunday, April 22nd
Time: 11 am- 6pm

Location: 22 West Lee St, Seattle, WA 98119

Previous post on 22 West Lee condos.

-Wendy

Technorati Tags: 22 West Lee, Williams Marketing, Queen Anne condos, Pre-sale condos, Seattle condos, Seattle real estate

Leona Hard Hat Tour

I took a hard hat tour of the Leona project this morning.  There seemed to be a fair amount of interest in touring the site based on the number of tourers though certainly not the chaotic scenes we used to see back in late 2005 / early 2006.  The site is currently gutted out for the most part with orange spray paint on the old wooden floorboards outlining the new units and a few computer generated renderings of how the inside of a couple of the units will appear.

Here are some of my impressions based on the tour:

1.) The 3 town homes to be built attached to the main building may be as interesting if not more to buyers than the condo units.

2.) The location close to the restaurants and shops in both Queen Anne and downtown is probably the best selling point.

3.) The building itself is unlikely to receive any architectural awards but looks like it will be a perfectly fine low-rise, wood/brick structure.

Andiamo condos

Work is ongoing at Andiamo Condominiums in lower Queen Anne as the builders stucco the exterior. The five-story condominium conversion, located on 4th Ave West and Mercer St, is just outside the major retail and shopping area of lower Queen Anne. Within blocks, owners will have multiple supermarkets, restaurants and coffee shops, not to mention the theaters and all that Seattle Center has to offer.

The building was originally constructed in 1996 and is currently composed of 28 units ranging from 463 to 709 sq ft. Prices for the condos range from $229K to $439K. There are multiple floor plans with one bedroom/one bath, two bedroom/one bath and two bedroom/two baths options.

Scheduled for occupancy in May, the outside of the building is currently still covered in plastic. Amenities in the pet-friendly building include; slab granite countertops, Stainless Steel appliances, bamboo hardwood floors, private decks and patios, new windows and sliding glass doors,  secure underground parking and a rooftop deck.

Leona

Leona condominiums in Queen Anne (Queen Anne Ave North & Ward St) is both a conversion of a historic building and a new addition. The Condominiums were originally built as apartments in 1909.  Rather than just using the building as is and gutting the interiors, an additional penthouse level will be added to the top of the historic building.

Previous projects by the same developer (Barrientos) include the Olympic Sculpture Park where the firm provided project management support.  The converted Leona condominium will house 18 units. Two penthouses will be constructed on top of the historically preserved building along with 3 town homes which will replace the current parking garage on Ward Street (parking will be moved underground).

22 West Lee- Grand Opening

22 West Lee condominiums is having their Grand opening event on Saturday, April 7,2007.

Here is the preliminary pricing for two of their units:

       #202 -700,000's                       #203 -$800,000's   

      1,458 square feet                      1,621 square feet   

             

   

Previous post.   

-Wendy 

Technorati Tags: 22 West Lee condos, Twenty two West Lee condos, Willimams Marketing, Queen Anne Condos, Seattle Condos, Seattle new construction

The Pittsburgh

The Pittsburgh, a 1907 apartment building in Lower Queen Anne, is in the process of being converted into condominiums. The units will range in size from 255 to 867 square feet and prices will range from $200,000's to the $40,000's. In addition, four small condominiums will be available for around $150,000. 

Pioneer Property group, the developers behind the project, were also behind the recent conversion of Queen's Court, a 1930's apartment building across the street from The Pittsburgh on Warren Avenue. Pioneer Property Group describes itself as niche developer with a social mission to "increase the density and supply of urban housing without adverse impact on our architectural heritage or the urban landscape."

According to them, the cost of maintenance of older buildings is too high for apartment use and makes them likely to be targeted for demolition to make room for more profitable high-rise buildings. By investing in condominiums and creating a community of buyers, Pioneer Property hopes to maintain the architectual charms of the neighborhood and also make it less enticing for other developers to replace the buildings. 

Improvements done for the Queen's Court building and which can be expected at the Pittsburgh include fir moldings, glass doorknobs, plaster walls and new bathrooms and kitchens with stainless steel appliances and granite countertops. Sales for the Pittsburgh condominiums are expected to begin in April (Update : May, 2007).

-Wendy

Technorati Tags: The Pittsburgh, Queen's Court, Queen Anne condos, Seattle condos, seattle conversions, Pioneer Property Group

22 West Lee

22 West Lee is a new condominium project in Upper Queen Anne that is expected to be ready for occupancy in Spring 2007. Ideally located within walking distance to the best of Queen Anne (including the Five Spot, Trader Joe's and the rest of Queen Anne Avenue North), this new development is decidedly high end.

Shying away from the trend towards geometrically regular floor plans in new buildings. 22 West Lee markets itself for its odd angles, curved walls, gas fireplaces, decks (many units have 2 private decks) and bay windows.

All 20 units have two bedrooms and two bathrooms with basically four floor plans. Prices range from $500,000 to over $1 Million. Floor plans range from 1165 to 1738 sq ft.

The building has 6 floors, an elevator and has a controlled access parking lot with 2 spaces allotted per unit. Kitchens will include Jenn-Air appliances, double ovens, slab granite countertops and custom kitchen cabinets in cherry and ginger. Other standard features will include tiled entry ways, a marble top vanity in the master bathroom, crown moldings and low UV transom style windows.

Units will be for sale during their VIP event on April 7th and 8th. The homes will be ready for occupancy late April/early May.

Latest post on 22 West Lee.

-Wendy

Technorati Tags: 22 West Lee, Williams Marketing, Queen Anne condos, Pre-sale condos, Seattle condos

Expo 62- Coming soon

Another Intracorp project, Expo 62 is coming soon in Queen Anne. The presentation center is currently under construction. I had a conversation with Kathryn a few months ago about this project. Here is the excerpt from my previous post, Domaine.

So what’s next for Intracorp? Their next project is going to be on 2nd Ave N and John St, next to the Seattle Center. According to Kathryn, it is going to be completely different from Domaine. There will be around 114 units in this new project including 10 work/live homes along a terrace elevated from the street. The terrace also serves as an entrance for these homes. There will be more information coming up in a few months’ time. Completion date for this condo is going to be 2008.

-Wendy

Technorati Tags: Expo 62, Queen Anne condos, 2nd Ave N and John St, Intracorp, Seattle center

Woof Woof- Where are the pet friendly condos?

I have been told many times by my husband not to dress up my dog. How could I not, she looks great in them. Many homeowners are just like me, we treat our pets as part of the family. Even when it comes time to move, looking for a pet friendly condo is one of the most important criteria.

I've been asked by some readers to write up a list of condos that are pet friendly. So for all the pet lovers out there reading this blog, this post is for you.

In general, most condos allow cats and dogs and up to 2 pets per unit.  A number of condos do have restriction on the breed of the dogs, aggressive breed like pit bull and rottweiler are usually not allow. Many condos have different rules when it comes to pets, so be sure to read them on what you and your pet may or may not do. Here is an example of common rules and regulation for owners with pets.

Do keep in mind that homeowner association may change their pet policy from time to time and it is always advisable to check with them or the management company regarding their current pet policy. You don't want to be surprised at the time of move in that your pet has to be left at the door.

I'll be updating this post periodically, so do check back on the neighborhood that you are interested in. If I have missed a condo (which I'm sure I certainly will, there are a few thousands of condos near the core of Seattle!!!), feel free to leave a comment.  If you have a pet story to share about living in a condo, please do so. I'm sure many pet owners would love to hear your experiences.

Pet friendly and unfriendly Seattle condos.

Off leash parks.

-Wendy

Technorati Tags: Pet friendly condos, Seattle condos pet friendly, Seattle condos, Seattle pet friendly buildings

Queen Anne HS Condos Buyer Bonuses

The marketing team at Queen Anne HS has been keeping busy.  They sent out an email survey asking  for feedback on what prospective buyers liked and didn't like about the property and now are offering buyer bonuses of $10k on "5 select loft homes for contracts written and closed on or before 12/31/06."

-Wendy

Technorati Tags: queen anne condos, queen anne high school condos, seattle condo buyer bonus, seattle condo deals, seattle condos

Queen's Court

There is a new addition to the condo scene in lower Queen Anne. Unlike most of the brand new development which is currently revitalizing the area, the condominium conversion of Queen’s Court Apartment infuses a little old into the market.

Built in the 1930’s with the details of the time; brick, marble, crown mouldings and oak, the new conversion has added to it premium finishings of today such as stainless steel appliances and fixtures. The 34 unit building is built on 3 floors in a surprisingly residential area close to Seattle Center. With a 24 hour supermarket and drugstore within easy walking distance, plenty of restaurants and the cultural attractions of Seattle Center all easily accessible, the combination of old and new world is sure to attract buyers.

On the other hand, many of the units will be faced with the ongoing construction of the building across the street, Bernard Apartments, which is being built on a lot that was formerly owned by the Seattle Center and is in the process of becoming a 6-story, 64 unit building.

Queen’s Court Condos offers a variety of studios, studios plus and 1-bedrooms with prices starting from the mid $200,000's.

Pros

-Good location

Cons

-Older building

-Most units have small bedrooms

-Wendy

Technorati Tags: Queen Anne condos, Queen's Court, Seattle Condos, 124 Warren Ave

Domaine Update

I recently had a chance to revisit the Domaine condo project and met with Kathryn Armstrong, VP of Intracorp, Domaine’s developer. We had a nice chat about the condo and talked mainly about the origins of the project, her position on the Seattle market, and how she sees home buyers taste and preferences changing in the future.

During our conversation, she pointed out that the site was picked for its proximity to downtown Seattle, its east facing slope with views of Lake Union, Gas Works Park and the Cascades, and its walking distance to Lake Union and Fremont. So, with so many new construction projects going on in downtown/Belltown area, I asked if she is concerned Domaine will be facing strong competition.  Kathryn felt that there are home buyers who want to be in all the action like living in Belltown /downtown and there are others who don’t.  A lot of home buyers prefer to be in a place where there is more open space and they can feel like part of the neighborhood. This is something she believes Domaine offers.

“Domaine provides home buyers with more open space. There is a central landscaped courtyard and all the homes come with large patios or decks. The tree shaded land and oversized decks give home buyers more private outdoor space; something which is becoming harder to find in new construction in Belltown/downtown.” Kathryn also feels positive about the condo market in Seattle. In her view, the strong job growth is a fundamental factor allowing the Seattle property market to continue to grow.

So what are developers going to do to differentiate their projects in the future? It seems like so many condos come with concrete and steel construction, stainless steel appliances and hardwood floors. Kathryn feels that even though many new projects have concrete and steel, it doesn’t matter. “What is more important is how they are all put together, the design and the style that makes it different.  Just like using the same fabric to make different  garments.” The design needs to be thoughtful and tailored to the people who are going to live in it.

She pointed out that buyers taste and preferences are changing.  Many are now looking for quality of space rather than quantity of space. Home buyers are getting more sophisticated, they know more about what they want and what they are looking for. Their level of expectations has risen. They want more thoughtful layouts and innovative storage systems. Open space is much preferred to compartmentalized space. More customized options like flexibility of having or not having a particular wall, fireplace, and doors. Open versus closed kitchen. Home buyers are increasingly expecting to tailor their own space for how they live. They want a condo that has unique character and something that reflects their own style.

So what’s next for Intracorp? Their next project is going to be on 2nd Ave N and John St, next to the Seattle Center. According to Kathryn, it is going to be completely different from Domaine. There will be around 114 units in this new project including 10 work/live homes along  a terrace elevated from the street. The terrace also serves as an entrance for these homes. There will be more information coming up in a few months’ time. Completion date for this condo is going to be 2008.

Domaine update:

Price list

Three featured homes with buyer incentives:

#601 William Sonoma furniture

#1101 Flat screen TV

#5201  Hardwood floors

Domaine most unique floor plan is their 2 bedroom town home (Building 3) with an upper lofts space that has large windows on top of it. It feels like a sky light lofts.

Read more on Domaine

-Wendy

Technorati Tags: Domaine, Queen Anne condos, Seattle condos, lake union condos, Intra corp, Avenue One, Mosler Lofts, Mithun, The Parc, Ellington

Dexter Place

Just a few blocks away from Lake Union on Dexter Ave is a new conversion, Dexter Place Condos. There are 5 different floor plans to choose from with a total of 12 one bedroom’s and 13 one bedroom’s with dens. The developer’s other conversion project is The Siena in Capitol Hill.

Prices start from $260,000s to mid $400,000s with a few units sold over the last two weeks.

Floor plan

The Dockside 1 bedroom                                711-723sf
The kayaker 1 bedroom + den                              910 sf
Topsider 1 bedroom + den (town home)                  851sf
Regatta  1 bedroom + den                           919-1,068sf
The Yacht Club 1 bedroom                             703-709sf

Standard options

• Two color scheme for the finishes
• Stainless steel appliances
• Hardwood floors

Upgrade options

• California closets
• Washer and dryer
• Storage $5,000

The exterior of the building has been painted and they are currently redoing the decks. The Yacht Club which is west facing has the most efficient layout and comes with double closets in the bedroom.  Even though it is 17 square feet smaller than the Dockside floor plan, it appears bigger. The dockside facing Lake Union gets a peek-a-boo view of the lake, and partial city view. The first level unit comes with a patio. The topsider has a patio and a huge balcony.

Pros

- Proximity to the Lake Union
- Wood burning fireplace, something that is not commonly found in a condo
- Reasonably priced

Cons

- Not much going on around that neighborhood

Exterior        Average

Interior          Good

Location       Average

View            Average

Amenities    Below average

Value           Average

Overall         Average

-Wendy

Technorati Tags: Dexter Place condos, Lake Union condos, Queen Anne condos, Queen Anne conversions, Seattle condos, The Straford

Queen Anne High School update

A few months ago I drove to Queen Anne High School to check out the neighborhood in the evening, the night view was magnificent. Going back to the school again during the day, it is still undeniably one of the most breathtaking historical buildings in Seattle.

Before the priority presale event last month, they sold 16 out of 137 units to existing tenants, alumni and developer’s sales. Most of their view units are already sold.  There are mainly the south facing units which has view of the city, Queen Anne neighborhood ,and the Puget Sound.

The main part of the school was built in 1909 and there were a few additions afterwards. In the 1920s , there was an addition of the west wing classroom which is now mainly one bedroom. In 1950s, the industrial arts building was added which are now converted to town houses and studios. Finally in the 1980s, there was another addition to the 1920s west wing classroom . The 1950s and 1980s additions do not have the character of the main building. Remodeling work is still going on in most of the units as well as the common areas. The main part of the school is scheduled for move in from September to December this year and the west wing and the industrial arts building are scheduled to be completed Jan to April 2007. As of yesterday, they have sold 36 out of 137 units. Their grand opening is this Saturday from 11.00am-6.00pm.

Prices

• Studios from the low                            $300,000s
• Lofts from the mid                               $300,000s
• One bedrooms from the high                  $300,000s
• One bedroom + den from the high           $400,000s
• Two bedrooms from the high                  $500,000s
• Town homes from the mid                      $700,000s

Finishes/feature

• Cherry Cabinets or the white cabinets option, kitchen island in some units
• Stainless steel appliances, slab countertops, farm style sinks, full height kitchen back splash
• Some units come with original hardwood floors, units that don’t come with hardwood floors will have carpet with hardwood floor border
• Less than 20 units have chalkboard in the unit.

Pluses

• A unique, one of a kind condo
• Tall ceilings, oversized windows and beautiful architectural design
• Feels like a safe neighborhood

Minuses

• An older building
• All the good view units were taken
• Single pane windows in the main building

Main building (based on what’s left)

Exterior       Very good

Interior         Good

Location       Good

View            Good

Amenities     Average

Value          Average

Overall         Good

-Wendy

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Serana

If you like the idea of living right above a giant supermarket like the Lumen condo but find that the price is a little steep for you, Look right across the street. Serana is a new conversion on the corner of Valley St and 5th Ave North. It doesn’t have the tall ceilings or the clean, sleek look interior/exterior like Lumen but is a little bit more modest and still has the convenient location.  Both will have to deal with traffic issues some SCR readers have commented on in the past.

Serana is a four-story, brick-accented building with 34 units consisting of studios, one bedroom’s and two bedroom’s. Similar to Lumen, Serana doesn’t have too much of a view from any direction. Its roof top deck does have the view of downtown Seattle and the Space Needle.

Prices will start at $270,000’s for 1BR’s and mid $400,000’s for their 2BR’s.

Serana’s finishes:

Standard options

• Stainless steel GE appliances, Energy Star rated refrigerator, range and dishwasher
• White-on White GE Spacemaker full size washer and dryer
• Euro-style tile countertops with custom tile backsplash
• Polished chrome fixture
• Tile tub surrounds
• Light and dark finishes

Upgrades

• Hardwood flooring in the living area
• Stainless steel GE profile appliances
• Slab granite kitchen counters with undermount sink
• Tiled master bath flooring

Out of all their two bedroom units, #09 has a better layout, more windows and probably less road noise. As for their one bedroom’s, #07 and #08 will be on the quietest side of the building but your unit is facing a parking lot and restaurant. #01 is the only floor plan that has a separate utility room.

Pros

- Easy access to I5
- Convenience of grocery store right across the street
- Adjacent to the future Melinda Gates foundation

Cons

- Street noise
- Except for the roof top deck, not much amenities

Exterior        Average

Interior        Average

Location       Average

View       Below Average

Amenities    Average

Value