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November 2014
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December 2014

Life in the Condo Wrap- Why are condos getting wrapped and is it as bad as it’s made to sound?

A three part Series about the good, the bad the ugly and the pretty as told by our personal experience and other residents living in the wrap at the 2200 condos.

Part I –What we anticipated it would be like

Wrap 7Living in 2200, a condo building in South Lake Union, we have been anticipating, or dreading, what it would be like to live here once the repair work began and the wrap shrouding us for 8 months went up.  We decided to write a series about it so you can read firsthand how we got here and what we thought it would be like, our personal experiences with living in the wrap and what the after affects are.

To set the stage, our condominium was constructed in 2007 and, like most newly built buildings in Seattle, in accordance to the rules set out in the Washington State Condominium Act, our HOA decided to have an investigation done to determine if the construction of certain aspects of our building were done correctly by the Developer. Certain predetermined items are what are called warrantable and the Developer is required to warrant those construction items. Then under the Condo Act, buildings can in term file suit against the Developer to enforce the remediation (repair) of construction defects that fit into the state statute’s criteria. We determined many did and went forward into mediation with our Developer. A settlement was reached and we moved into the repair phase (for those attorneys and the like, please forgive my short explanation here as there are many more facets and layers, but I think everyone gets the gist).

Continue reading "Life in the Condo Wrap- Why are condos getting wrapped and is it as bad as it’s made to sound?" »

November 2014 Seattle Condo Stats

Each month we go back and take a look at condo market sales here in Seattle as reported by the MLS.

We first take a look at the whole city of Seattle to get a general overview of our area’s condo market and then we drill down by neighborhood using the MLS areas focusing on the areas that have the largest concentration of condos here in our city.  Those areas we closely track are:

  • Capitol Hill/Central/Madison Valley (area 390)
  • Queen Anne/Magnolia (area 700)
  • Downtown/Belltown/SLU (area 701)
  • Ballard/Fremont/Wallingford/Phinney (area 705)

We then use this data and information to make forecasts and to help buyers and sellers make decisions on their real estate needs.
SCR Market Chart (Nov 2014)_Page_1

Continue reading "November 2014 Seattle Condo Stats" »

Want to See What Will Be Built Outside Your Window in the Future in Seattle?

Seattle in ProgressEver wish you had a crystal ball to see what that vacant lot near your condo might be someday? It’s not a true crystal ball, but it’s close:

If you are thinking about selling your condo or buying one here in Seattle, potential development near your building can have an effect on both current market value as well as future market value.  Not to mention just knowing what is coming is valuable information.  For example, will there be new retail or a new grouping of townhomes that will gobble up a bunch of street parking near your condo? Will there be a new building that will block your current view?

But with so many new construction developments, how can the average person keep up and more importantly keep informed? Just today when driving down Lakeview over the I-5 overpass, Loren and I counted 17 construction cranes towering over the city, just in the South Lake Union and Denny Triangle area alone!  There are cranes in Ballard, on Capitol Hill, in Roosevelt, you name it.  And those are just the cranes you can see now.  But what about if you could see into the future, even before a crane or construction trailer hits the site?  Well you can now, sort of.

Continue reading "Want to See What Will Be Built Outside Your Window in the Future in Seattle?" »

Insignia Towers Reaches Big Milestone with Removal of the South Tower's Construction Crane

South Crane Down 5When driving by Insignia last week, it was really nice to see the tall skinny silhouette of the south tower now that the huge sky crane has been removed from its south side.  With most of the construction now focused in the interior of the tower and most of the glazing (windows) installed except on the very top sky lounge and roof top amenities level,  you can see it really start to take shape and see how the tall slender towers will situate amongst the area buildings as well as each other.

According to the sales team, the interior work of the lower floors is mostly completed except for the common hallways.  So all the hardwoods, fixtures, finished walls and cabinets are installed and there is just some finish work remaining on the units from roughly floor 10 and below.  Our clients who have purchased on the lower floors are so excited to hear this news and as the new year grows close, that means the completion of the south tower is getting closer as well, currently estimated at around June of 2015 for closings to start on these lower floors.

Buying a new construction presale is a great option for those wanting new and a choice of floor plans, but the process can be hard for those without patience.  It’s a bit of a waiting game but the wait is almost over for those who are purchasing in the south tower.  As for the north tower, crews are already pouring concrete this week for the 17th floor, but sales have not yet started in that tower.

If you haven’t done so lately, drive by and take a look at the site, it’s pretty impressive.

South Crane Down 2 South Crane Down

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


Salt Condominiums in Ballard is Officially Listed on the Market


Even though we let you know several weeks ago that a couple of units at Salt, a new condominium project in Ballard, had already been sold and that they were actively accepting offers, they sent out an email blast yesterday indicating that they have officially launched the project for presale and listed some units in the Northwest Multiple Listing Service. We thought you might want to know!

Click here to see the current active listings in Salt.

Questions about Salt? Let us know.

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