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King County Weekly Condo Sales Ratios for January 13th, 2010

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

Active Listings and Pending Sales by NWMLS Area 701

Active Listings and Pending Sales by NWMLS Area 701

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Interest Rates of 5% May Never Be Seen Again! Here’s Why.

January 13, 2010 by  
Filed under Buying, Featured, Finance, MARKET TRENDS, National

Interest rates are speculated to begin heading in the opposite direction come springtime.  As part of the economic plan to stimulate the market, the Federal Reserve has been purchasing mortgage-backed securities in order to manipulate demand.  Since early 2009, the Feds have bought an approximate $1.25 trillion in securities, and Fed spending is set to expire on March 31st.  Unlike the Tax Credit extension real estate professionals crossed their fingers for, the Feds have already slowed down on spending, suggesting they will in fact cease securities purchasing.  This should result in opening the market to investors demanding higher rates due to higher perceived risk.  With that being the case, it’s likely that rates will never be seen at 5% again.

Lenders (preferred) are advising people to take advantage of these low rates before spring when they are expected to begin climbing to an estimated 5.5%.  Spring is also the busiest season of the year for buying real estate, so getting in on a low rate and low price is certainly a wise idea.  Rates should continue to rise at a fairly slow rate after that, then cap around 5.75%.

Bullish About 2010? Matrix Drums Up Half by the 12th Day

January 12, 2010 by  
Filed under Downtown (MLS Area 701), Featured, Selling

We are curious to see how the downtown market is starting off for 2010. Since the beginning of the year, a high number has come up for new listings.  However, almost half of the 57 (-3) units is just Williams and MCM hacking into the MLS to update their new company’s name.

Unfortunately many are still left feeling bad for being responsible while not losing a tremendous amount of net worth in home value.  Buyers are snatching up the flipped floorplan of the same unit next door for sometimes half the price.

Economists are still throwing dust in the wind to predict what the market is going to be like for 2010, but there certainly are not as many running for cover.  The argument today seems to be mostly focused on opinions regarding Escala’s lobby.

At any rate, here’s what’s hitting the market for the beginnng of 2010 and at what price… (*does not include pendings or price adjustments)

Alexandria – 0B/1B, 450 Sq. Ft. $174,950
Bellora – 0B/1B, 516 Sq. Ft. $189,000
Marselle – 0B/1B, 376 Sq. Ft. $199,990
Marselle – 0B/1B, 556 Sq. Ft. $214,990
Matae – 0B/1B, 452 Sq. Ft. $219,000
Marselle – 0B/1B, 562 Sq. Ft. $219,000
Marselle – 1B/1B, 744 Sq. Ft. $249,000
Marselle – 1B/1B, 781 Sq. Ft. $259,990
Marselle – 1B/1.5B, 836 Sq. Ft. $259,990
Marselle – 1B/1.5B, 836 Sq. Ft. $259,990
Marselle – 1B/1.5B, 842 Sq. Ft. $264,990
Marselle – 1B/1B, 781 Sq. Ft. $269,990
Marselle – 1B/1B, 706 Sq. Ft. $269,990
Veer Lofts – 1B/1B, 703 Sq. Ft. $274,500
Veer Lofts – 1B/1B, 640 Sq. Ft. $282,500
Concord – 0B/1B, 580 Sq. Ft. $285,000
Marselle – 1B/1.5B, 846 Sq. Ft. $299,990
Marselle – 1B/1B, 956 Sq. Ft. $299,990
Cosmopolitan – 1B/1B, n/a Sq. Ft. $300,000
Arbor Place – 1B/1B, 675 Sq. Ft. $315,000
Marselle – 1B/1B, 956 Sq. Ft. $324,990
Belltown Lofts – 1B/1B, 889 Sq. Ft. $349,000
Veer Lofts – 1B/1.5B, 810 Sq. Ft. $349,500
Klee – 1B/1B, 721 Sq. Ft. $355,000
Vine – 1B/1.5B, 1022 Sq. Ft. $375,000
Marselle – 2B/2B, 1217 Sq. Ft. $279,000
Marselle – 2B/2B, 1058 Sq. Ft. $389,990
Marselle – 2B/2B, 1251 Sq. Ft. $399,990
Veer Lofts – 1B/1.5B, 909 Sq. Ft. $409,500
Trio – 1B/1B, n/a Sq. Ft. $414,950
Veer Lofts – 1B/1.5B, 1005 Sq. Ft. $429,500
Royal Crest – 2B/1.75B, 1323 Sq. Ft. $439,950
Cosmopolitan – 2B/2B, 1186 Sq. Ft. $446,738
Parc – 1B/1B, 775 Sq. Ft. $465,000
Market Court – 1B/1.5B, 1015 Sq. Ft. $469,000
Florentine – 1B/1.75B, 1437 Sq. Ft. $484,950
Post Mews – 1B/1B, 1913 Sq. Ft. $499,900
Merrill Place – 1B/1.5B, 1271 Sq. Ft. $544,000
Waterfront Landings – 2B/1.75B, 1116 Sq. Ft. $549,000
Bay Vista Tower – 2B/2B, 1371 Sq. Ft. $585,000
Cosmopolitan – 2B/2B, 1316 Sq. Ft. $695,000
Cosmopolitan – 2B/1.75B, 1324 Sq. Ft. $695,000
One Pacific Tower – 2B/2B, 1523 Sq. Ft. $695,000
Enso – 2B/2B, 1129 Sq. Ft. $715,000
Continental Place – 1B/1B, 842 Sq. Ft. $750,000
Market Place North – 1B/1.5B, 1288 Sq. Ft. $879,000
One Pacific Tower – 2B/2B, 1523 Sq. Ft. $1,000,000
Enso – 2B/2.5B, 1556 Sq. Ft. $1,025,000
1521 Second – 2B/1.75B, 1968 Sq. Ft. $1,125,000
1521 Second – 2B/1.75B, 1644 Sq. Ft. $1,125,000
Enso – 2B/2B, 1892 Sq. Ft. $1,295,000
Madison Tower – 3B/2.5B, 3010 Sq. Ft. $4,995,000

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