Comments on: 1521 pre-solds on market http://seattlecondosandlofts.com/2008/10/1521-pre-solds-on-market Wed, 25 Jan 2012 02:01:42 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: But I’m Bluer Than Blue | Seattle Planning Blog http://seattlecondosandlofts.com/2008/10/1521-pre-solds-on-market/comment-page-1#comment-75131 But I’m Bluer Than Blue | Seattle Planning Blog Tue, 03 Mar 2009 07:55:50 +0000 http://seattlecondosandlofts.com/?p=2075#comment-75131 [...] Looks may be deceiving, but the photo above makes me think “see-through office.”  Back in pre-bust days Opus presold 138 of the 143 units, but I doubt anyone would be surprised to see more buyers backing out. [...] [...] Looks may be deceiving, but the photo above makes me think “see-through office.”  Back in pre-bust days Opus presold 138 of the 143 units, but I doubt anyone would be surprised to see more buyers backing out. [...]

]]> By: Ken Wright http://seattlecondosandlofts.com/2008/10/1521-pre-solds-on-market/comment-page-1#comment-73800 Ken Wright Fri, 13 Feb 2009 03:29:32 +0000 http://seattlecondosandlofts.com/?p=2075#comment-73800 I'm sure the condos are quite nice, but the 'toxic asset' refers the mark-to-market price of the asset versus the original contract price, whereby it becomes illiquid. I’m sure the condos are quite nice, but the ‘toxic asset’ refers the mark-to-market price of the asset versus the original contract price, whereby it becomes illiquid.

]]> By: Ben Kakimoto http://seattlecondosandlofts.com/2008/10/1521-pre-solds-on-market/comment-page-1#comment-73791 Ben Kakimoto Fri, 13 Feb 2009 01:54:33 +0000 http://seattlecondosandlofts.com/?p=2075#comment-73791 Ken - excellent point. I know a few pre-sale buyers (not 1521) who have forfeited tens of thousands in EM deposits (upwards of $70,000) rather than take possession of a bad investment. In those cases, though, they were purchasing the units as speculative investments (rental or flip) and it made sense to take the loss. I don't think it's necessarily a toxic asset assuming its a long-term principal residence purchase. Ken – excellent point. I know a few pre-sale buyers (not 1521) who have forfeited tens of thousands in EM deposits (upwards of $70,000) rather than take possession of a bad investment. In those cases, though, they were purchasing the units as speculative investments (rental or flip) and it made sense to take the loss. I don’t think it’s necessarily a toxic asset assuming its a long-term principal residence purchase.

]]> By: Ken Wright http://seattlecondosandlofts.com/2008/10/1521-pre-solds-on-market/comment-page-1#comment-73777 Ken Wright Fri, 13 Feb 2009 00:29:58 +0000 http://seattlecondosandlofts.com/?p=2075#comment-73777 They are being resold as the buyers realize they have signed up to overpriced (2007 money) contracts, and are trying to get out without losing their deposit. The market has significantly corrected and the prices are unrealistic (for 2009 money). The lose of deposit would make more sense than completing the contract and holding a $1m-$2m 'toxic asset'. They are being resold as the buyers realize they have signed up to overpriced (2007 money) contracts, and are trying to get out without losing their deposit. The market has significantly corrected and the prices are unrealistic (for 2009 money). The lose of deposit would make more sense than completing the contract and holding a $1m-$2m ‘toxic asset’.

]]> By: ADS http://seattlecondosandlofts.com/2008/10/1521-pre-solds-on-market/comment-page-1#comment-64144 ADS Sun, 26 Oct 2008 23:27:18 +0000 http://seattlecondosandlofts.com/?p=2075#comment-64144 I wonder if more units are going to hit the market. I also think it's ridiculous if these sellers believe they'll be able to make a small profit given what's going on in this economy. Even if you're well off, and looking to buy something, a smart buyer would probably wait it out. Although the unit on the 8th floor at $560/ft sounds like a good deal. Seriously though, good luck to all the specs trying to unload at >$1,000/ft. I know if I had that kind of money I wouldn't be a buyer. I wonder if more units are going to hit the market. I also think it’s ridiculous if these sellers believe they’ll be able to make a small profit given what’s going on in this economy. Even if you’re well off, and looking to buy something, a smart buyer would probably wait it out.

Although the unit on the 8th floor at $560/ft sounds like a good deal. Seriously though, good luck to all the specs trying to unload at >$1,000/ft. I know if I had that kind of money I wouldn’t be a buyer.

]]> By: condoboy http://seattlecondosandlofts.com/2008/10/1521-pre-solds-on-market/comment-page-1#comment-64061 condoboy Sat, 25 Oct 2008 22:20:19 +0000 http://seattlecondosandlofts.com/?p=2075#comment-64061 I would be curious to know how much profit these quasi-flippers are trying to get, and I am surprised the developer is allowing it. I would be curious to know how much profit these quasi-flippers are trying to get, and I am surprised the developer is allowing it.

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