Here is a true story of a client to help illustrate who should sell their condo right now~
She is a single woman working in technology (no, not at amazon), very responsible with her money and has some savings. She is not an all cash investor or a long term Amazonian with 50% down, but she is like a lot of you, with maybe enough savings for 10%-20% down. She has a budget of maybe $2,400 a month max for a mortgage payment (including dues, taxes and insurance). She is looking for a nice one bedroom of average size (at least 650 sqft), with parking and storage, and in a building with some amenities like a gym and concierge staff. She wants a newer building. She wants to be close to downtown where she works, wants to walk to the market every weekend, maybe take a stroll along Myrtle Edwards Park with friend now and then and take a quick cab ride, long walk or light rail ride to a Mariners or Sounders game in Pioneer Square.
Sounds like a reasonable request of Seattle’s downtown area condo market right? Does this sound like the condo that you own? Well guess what? This is the most common type of buyer we are seeing right now in Downtown Seattle. They want the Seattle lifestyle, to be close to activities, work and recreation, and it’s important to them to be in nice building that is either new, or is updated and modern, feels safe, and will be a good investment in the event they need to relocate for work and need to sell in the future or keep it as a rental.
Why is this important to you if you own a Seattle condo in the Downtown area and are considering selling? Keep reading.