Condo King County Weekly Sales Ratios for September 10th, 2008

Condo Only, NWMLS Area 701 (Belltown & Downtown Seattle)

A Big Green Light for Buyers

Market Court Going Under Wraps: Proof of Solid HOA

Before anyone else puts a negative spin on Market Court for going under wraps, we wanted to be the first to applaud their HOA for the way they have decided to handle their upcoming maintenance.  The reputable building will soon be receiving new windows and siding due to substandard repairs made nearly a decade ago.  Rather than playing the defensive role and acting like victims, the building’s modern day homeowners are standing together to take an offensive stand on how to make the community better.

There’s no doubt that the new improvements will be costly, however the actions taken should maintain a steady value since there will be no litigation.  In addition, the HOA will be making improvements to the roof, although there’s been no report on any defects.

So, what can future buyers learn from this?  Making an investment in a downtown condo is not just about the price, view, year built, etc..  When consulting with buyers, endorsing a new condo purchase the buyer must consider neighborhood trends, zoning (especially downtown), building reputation, and in many other cases, a well ran homeowner association.

Ten Twelve First?

Three listings for a project currently named Ten Twelve First just all of a sudden appeared in the NWMLS the other day.  Generally, when a new tower is being proposed and about to be listed for presales, you usually see it coming because of a formal permitting process.  However, this one seems to have caught us all off guard.

John L. Scott Realtor and principal for the development, Breffni McGeough, informed us that there is no Public Offering Statement yet, the design has yet to be finalized, and the building’s air rights will also need to be worked out.

So far, what’s being reported about the building itself is that the tower will of course be a luxury high-rise, should stand 35 36 stories, include 219 hotel rooms, have 21/22 condominiums on the upper 16 floors, displays a completion date for 2011, and will be designed by Ismael Leyva–architect for the proposed Pagoda & Heron Tower.

A buyer is now able to make a reservation ($25k ) for the “shell(s)” currently listed with MLS.  However, even though a search for available units in the building delivers three active listings, there’s really only one 8,000 square foot condo, or two separate 4,000 square foot units.  Regardless of whether or not a buyer chooses one 4,000 square foot unit at $1,750,000, or both units for $3,500,000, he/she/they will be walking away with 1st Avenue Seattle real estate at only $438/square foot.

Be sure to also see what Matt Goyer and Ben Kakimoto have to say.

Four Seasons New Construction Amenity Photos

It’s been a couple weeks since we last posted photos of the Four Seasons, and they got a ton of hits!  Here are a few of the remaining photos which mostly cover several of the amenities.  Enjoy!

Condo King County Weekly Sales Ratios for September 3rd, 2008

Condo Only, NWMLS Area 701 (Belltown & Downtown Seattle)

Stadium Lofts – 589 Occidental Avenue South, Seattle, WA 98104

Condo King County Weekly Sales Ratios for August 27th, 2008

Condo Only, NWMLS Area 701 (Belltown & Downtown Seattle)

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