Condo King County Weekly Sales Ratios for Mar. 26th, 2008

Waterfront Place – 1009 Western Ave., Seattle, WA 98104

Address: 1009 Western Ave., Seattle, WA 98104
Neighborhood: Downtown

CONDOS FOR SALE

Here you can find all active listings at Waterfront Place. If your dream condo is not listed, sign-up to be instantly notified by email.

Sign-Up to receive an instant email notification of new Waterfront Place condos for sale as soon as they hit the market. Membership also includes a monthly review of all activity for this building.

DESCRIPTION

Located on the corner of Madison and Western, Waterfront Place is a 13-story Class-A office building with 18 residential condominiums. The building is within a close proximity to Pike Place Market, Pioneer Square, and located one block from the Seattle Ferry Terminal. The building also includes restaurant and retail space. In addition to it’s unique location, the building also features a beautiful landscaped courtyard and luxurious lobby. Homes rarely hit the market making Waterfront Place one of Seattle’s most cherished residences.

BUILDING DATA

• Year Built: 1983
• Number of Units: 18
• Number of Stories: 13
• Exterior: Cement/Concrete, Stucco
• Parking: Common Garage
• Pets: Subj to Restrictions
• H/O Dues Included: Garbage, Water/Sewer
• Common Property Features & Amenities: Cable TV, Elevator, Fire Sprinklers, Lobby Entrance

NEIGHBORHOOD BUSINESS

• Arte Forma Designs
• Asian Style
• Experience
• Federal Office Bldg
• Ivar’s
• John’s Wok on Western
• KidsCentre
• LaBrash
• McDonald’s
• Modele’s Home Furnishings
• Nijo Sushi Bar & Grill
• Okinawa Teriyaki
• Ye Olde Curiosity Shop

VIEW NEIGHBORHOOD MAP

ADDITIONAL OPINIONS & REVIEWS

*Data is deemed to be reliable, but not guaranteed. In some cases, number of units may include commercial and residential spaces and/or height may or may not include a 13th floor.

Is a Fed rate cut really good news for mortgage rates?

There’s been a lot of news regarding Fed rate cuts and thought those of you who may be considering these cuts as the right time to refinance should get some additional information before calling your mortgage officer. In a recent CNBC article, Barry Habib explains how Fed rates and mortgage rates differ.

The bottom line is that it appears mortgage rates will get better if the stocks sell off and will get worse if the stocks rally. So it is not necessarily what the Fed does that affects mortgage rates, it’s how the Nasdaq and broader stock market interprets the Fed’s action that will ultimately influence the direction of mortgage rates.

Condo King County Weekly Sales Ratios for Mar. 19th, 2008

Fifteen Twenty-One – 1521 2nd Ave., Seattle, WA 98101

Address: 1521 2nd Ave., Seattle, WA 98101
Neighborhood: Downtown

CONDOS FOR SALE

Here you can find all active listings at Fifteen Twenty-One. If your dream condo is not listed, sign-up to be instantly notified by email.

Sign-Up to receive an instant email notification of new Fifteen Twenty-One condos for sale as soon as they hit the market. Membership also includes a monthly review of all activity for this building.

DESCRIPTION

Designed by Weber + Thompson Architects, and developed by William Justen, 1521 is a 38-story luxury high-rise located on 2nd between Pike and Pine Street. Each floor is designed to only accommodate 3 to 5 homes ranging from 1,659 to 2,958 square feet with exclusive interiors designed by Susan Marinello. The building also boasts protected water views over Pike Place Market with floorplans designed to maximize view potential. In addition to achieving LEED Silver status, the project also features high technological, engineering, and space-planning standards. Amenities include a porte-cochere, rooftop terrace, fitness center, yoga/pilates studio and playroom for children. Original pricing started at $1 million to more than $9 million.

PICTURES

BUILDING DATA

• Year Built: 2009
• Number of Units: 143
• Number of Stories: 38
• Exterior: Cement/Concrete, Metal/Vinyl
• Parking: Common Garage
• Pets: Subj to Restrictions
• H/O Dues Included: Cable TV, Central Hot Water, Earthquake Ins., Garbage, Water/Sewer
• Common Property Features & Amenities: Cable TV, Children’s Playroom, Club House, Concierge, Disabled Access, Elevator, Exercise Room, Fire Sprinklers, Game/Rec Room, High Speed Internet Available, Lobby Entrance, Porte-Cochere, Security Gate

NEIGHBORHOOD BUSINESS

• Benaroya Music Hall
• Genghis Khan
• Green Room
• Happy Gifts
• Liberty Loans
• OK Grocery
• Only in Seattle
• Osaka Grill & Teriyaki
• Pike Place Market
• Showbox Theater
• Subway
• Tropical Deli
• Westlake Mall

VIEW NEIGHBORHOOD MAP

ADDITIONAL OPINIONS & REVIEWS

*Data is deemed to be reliable, but not guaranteed. In some cases, number of units may include commercial and residential spaces and/or height may or may not include a 13th floor.

Common Area Improvements for Bay Vista Tower

The Bay Vista Tower will be getting somewhat of a face lift for the 6th floor amenities and other repairs/replacements later this year. Here is a list of planned projects we received from the building’s Facility Manager.

• Re-seal and paint building exterior this summer. Bid award expected by end of March. Work to begin by June.
• Modernize elevators (no change to cabs, this just means we are moving from a mechanical system to a more reliable electronic system). This project is underway now which means we have the use of only one elevator. Consequently there is a moratorium on all non-essential elevator use, including remodel projects, until we have two working elevators. We expect completion by the end of June.
• Enclose sun-deck off the pool room with gates and taller fencing so as to meet County pool security requirements while allowing the big sliding-glass doors to be wide open during the summer. Project completion expected by June 1st.

Scopes of work and other planning are in process for:

• Repair/replace wooden garden planters on 6th floor deck.
• Resurface pool, re-grout spa and rehab interior of pool room.
• Remodel 6th floor Fitness Room (double in size by covering over stairwell) and Admiral’s Club social room.
• Replace incoming domestic water line.
• Replace roof-top cooling tower.
• Replace fire panel.

There have been two special assessments toward these projects in the last two years. There is one more planned specifically for the 6th floor Fitness & Admiral’s Club Remodel. The Board of Directors plans to hold a broker’s open house upon completion of the 6th floor projects.

98 Union – 98 Union St., Seattle, WA 98101

Address: 98 Union St., Seattle, WA 98101
Neighborhood: Downtown

CONDOS FOR SALE

Here you can find all active listings at 98 Union. If your dream condo is not listed, sign-up to be instantly notified by email.

Sign-Up to receive an instant email notification of new 98 Union condos for sale as soon as they hit the market. Membership also includes a monthly review of all activity for this building.

DESCRIPTION

Designed by Olson Sundberg Kundig Allen Architects, 98 Union is located near Pike Place Market on 1st Avenue. The development was previously known as South Arcade Condominiums because of it’s attached location to the South Arcade entrance into the market. The locaiton is also just a short distance from the Seattle Art Museum, Benaroya Hall and Westlake Center. Floorplans are generous in size and most western facing units have spectacular sound views.

PICTURES

BUILDING DATA

• Year Built: 1985
• Number of Units: 76
• Number of Stories: 13
• Exterior: Stucco
• Parking: Common Garage
• Pets: Subj to Restrictions
• H/O Dues Included: Cable TV, Central Hot Water, Earthquake Ins., Garbage, Water/Sewer
• Common Property Features & Amenities: Cable TV, Concierge, Disabled Access, Elevator, Exercise Room, Fire Sprinklers, Lobby Entrance, Security Gate

NEIGHBORHOOD BUSINESS

• Benaroya Music Hall
• Goldmine Jewelry
• Islander Restaurant
• Merry Tails
• Northwest Tribal Art
• Pike Place Market
• The Purple Cafe
• Rocky Mtn Chocolate Factory
• Seattle Art Museum
• Triple Door
• Tully’s Coffee
• Westlake Mall

VIEW NEIGHBORHOOD MAP

ADDITIONAL OPINIONS & REVIEWS

*Data is deemed to be reliable, but not guaranteed. In some cases, number of units may include commercial and residential spaces and/or height may or may not include a 13th floor.

Supply-and-Demand for Seattle Office Space Ranked Highest in the Country

The Marcus & Millichap 2008 National Office Property Index (NOPI) recently reported that Seattle has passed New York on a score that ranks 43 markets on forward-looking, supply-and-demand indicators. In an article by National Real Estate Investor, much of Seattle’s demand is attributed to an above-average job growth in the technology industry. Apparently developers are to deliver more space this year than the previous four combined.

New York falls to second place, but still tallies the lowest vacancy rate in the nation. Citywide vacancy is expected to creep up 30 basis points to 5.7% this year. Leasing volume was about 25% less in 2007 from 2006 and new construction activity will dip from 3.4 million sq. ft. in 2007 to around 3 million sq. ft. in 2008. The largest completion will be the Durst Organization’s 2.1 million sq. ft. Bank of America Tower at One Bryant Park.

Here is the index’s top 10:

1. Seattle
2. New York City
3. Boston
4. San Francisco
5. Los Angeles
6. Washington, D.C.
7. Oakland
8. Riverside-San Bernardino
9. Las Vegas
10. Orange County

We believe this to be a good reason to have faith that our market is going to do just fine although movement in the market hasn’t been as active as we would have hoped it to be during this time of year.

43 Stories Proposed for Apartment Tower Near Escala

Those who have, or may be considering a purchase at the Escala should be aware of a new project that may be built just a block away at the northeast corner of 3rd and Virginia by Ankrom Moison Associated Architects. The new apartment building’s design show that it will tower over be higher than the Escala building by 120 feet and also be the tallest apartment building in Seattle. The 450 foot tower is to include 421 residential rental units and 40 hotel rooms.

However, this may be one of those projects that never gets built. The development has been going through the review process since August 16th, 2005, and it’s last review was an approved zoning review completed on August 22nd, 2007. But, it’s still best to look into this further if it may affect your existing or potential view.

AVA Project Permits Approved & Sales Info

The Residences at AVA, Downtown Seattle’s most anticipated high-rise community, is please to share with you some exciting news.

MASTER USE/DEVELOPMENT PERMIT APPROVED
We’re very excited to announce that The Executive Group and Fana Development Group have received the Master Use Development Permit (MUP) with the unanimous support of the Seattle Design Review Board. We anticipate filing construction documentation soon in order to have the city’s authorization to commence with construction this fall.

BEST NEW DESIGN
We are also proud to announce that AVA has been voted “Seattle’s Best Looking New Project” by viewers of the Seattle Condo Review. AVA is quickly becoming downtown Seattle’s most exclusive collection of contemporary high-rise residences atop an elegant luxury hotel. The new scale building model was recently debuted at the “State of Downtown” event hosted by the Downtown Seattle Association.

SALES CENTER COMPLETION
Construction of our sales center is nearing completion at the corner of Olive Way and 8th Avenue. You will soon be able to preview a large scale model of the tower, interior model vignettes of the kitchen and bathroom, final floor plans, views, finishes and other exhibits to help you visualize life at AVA.

PRIVATE PREVIEW APPOINTMENTS
Beginning next month, the sales center will be open to prospective homebuyers by appointment only. Please feel free to contact me to schedule a private tour. At the conclusion of your tour, should you wish to reserve a home at AVA, we would be more than happy to assist you. Now that the MUP has been approved, Executive Development Group will finalize the construction documents for AVA and will work with their contractor to complete the pricing of the construction. In order to provide you with the best purchase price, this process may take several months to complete but rest assured your reservation will be honored. Of course, we will be keeping you posted with periodical updates.

Next Page »