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March 2017

February 2017

NEXUS Schedule Updates and Grand Opening Date

Nexus2The sales team at NEXUS condominiums has released an updated schedule of how the events and sales process will progress from now through the public grand opening and sales event.

  • February 22nd: Advance distribution of legal files for courtesy review
  • February 24th: Official Notification to 1st Position Reservation Holders
  • February 25th: Sales Center for 1st Position Reservation Holders
  • March 4th: Official Notification to 2nd Position Reservation Holders
  • March 11th: Public Grand Opening & Sales Event 

Of course several of these events are for reservation holders only so if you are not currently in a reservation for a unit, you will have to wait until March 4th to attend the public grand opening. However, after the reservation holder only events, some units might come back on the market if any reservations do not convert into purchase and sale agreements so you might be able to snag a unit you loved that had previously been reserved.

We hope to see you at the Grand Opening but if before then you would like to learn more about NEXUS or reserve a unit, ping us and we will walk you through the process.

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

Most Expensive Condo Ever Listed in Seattle

Bay Vista PenthouseThe penthouse at Bay Vista in Belltown hit the market last month and it is the most expensive condominium unit to ever be listed in Seattle (according to PSBJ). Listed at $13.8 million,  with 5,732 square feet of interior space on two floors and an additional 1,500 square feet of outdoor private terrace space this is definitely a unique condominium listing for Seattle.

The Multiple Listing Service (MLS) describes it as, "This exquisite penthouse at Bay Vista offers more than 5700 sq ft of living space spread between 2 floors, created as a collaboration between designer Gregory Carmichael and architect Rick Sundberg. Designed to function as an ingenious framework for unparalleled views of Seattle and its natural surroundings, the residence is meticulously constructed from a sophisticated palette of exotic hardwoods, artisan metals and natural stone surfaces and is offered with a full suite of bespoke furnishings."

Check out the Penthouse here!

Quick Stats:
3 bedrooms
3 full bathrooms and 2 half baths
5,732 square feet
1,500 square feet of deck space
2 story
3 parking spaces
3 fireplaces
270 degree views
Last sold in 2005 for $5.6M

More Chinese Buyers Might Be Coming to Seattle from Vancouver BC

Color - space needle to downtownAccording to the Wall Street Journal, Seattle should be expecting to see an influx of Chinese home buyers as a result of British Columbia's newly imposed tax.

In August, British Columbia, the province in which Vancouver is located, imposed a 15% tax on foreign investment in the city. This tax applies to anyone purchasing a home or condo in the metro city of Vancouver who is not a citizen or permanent resident of Canada. The closet large metropolitan city to Vancouver is Seattle and with Seattle's market looking strong, experts are anticipating that some of those affected by this tax will be moving their purchases and money down to Seattle.

Along with the 15% tax, the city of Vancouver also imposed a separate tax of 1% of the assessed value on properties that are left vacant. These new taxes have caused quite a shift in the web searches in China for real estate in Vancouver vs Seattle., an online real-estate portal that targets Chinese home seekers, is reporting that web searches for Vancouver properties fell 37% while web searches for Seattle properties increased by 125% year over year.

There will be no quantitative way to know how or whether these taxes in Vancouver will actually affect real estate sales to Chinese investors here in Seattle but it is something to be aware of.

What does this mean for Seattle? For one, an influx of buyers into an already inventory starved market will continue to put upward pressure on prices and keep the competitive seller's market going strong. Two, we might start to see our own city developing laws and new taxes to prevent what happened in Vancouver from happening here, which is rapid price increases pricing out local residents along with a plethora of vacant properties.

Source: WSJ

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

NEXUS Will Open Sales Center & Model Home in March

NEXUS RenderingNEXUS condominiums, breaking ground this month and completing in 2018, announced that they will open their sales center and model home next month in March. The sales center will include a full size model home and interactive exhibits.

With the opening of the sales center, we anticipate that reservations will be converted to purchase and sale agreements soon as well. We will keep you all informed as the actual date of the grand opening.

We look forward to checking out the sales center and hope to see some of you there at the grand opening!