Comments for The Seattle Condo Blog | Seattle Condos and Lofts

Comment on First Quarter 2012 Seattle Condo Report by Jason

Jason — Thu, 17 May 2012 21:49:38 +0000

Thanks for the data. Sales in our markets are up over 2011 too, and it’s great to hear that our markets aren’t unique. Many of the other blogs I read are reporting similar data. It seems like many of the most popular markets around the nation had a good first quarter. I hope quarter 2 is as good, or better.

Comment on Escala & The Sanctuary raise prices by Ben Kakimoto

Ben Kakimoto — Fri, 11 May 2012 17:09:22 +0000

You’re right about that…the shadow inventory is significant, there is a considerable inventory. The current reality for buyers in the present market is that they’re just not available today and we’re seeing multiple offers. How long this environment will last is the question.

The banks are not likely to dump the inventory on the market, which will prolong the recovery period. Though, they are currently selling the inventory in bulk to large investors, rather than marketing them individually.

Comment on Escala & The Sanctuary raise prices by jane

jane — Fri, 11 May 2012 06:28:41 +0000

oh please…slight uptick. are YOU KIDDING ME? no, real estate is NOT rising. it’s estimated there are 12 MILLION houses on the banks books (reo, foreclosures, etc.). those WILL finally unfold and unravel. they can’t stay “hidden” forever. The banks are shortly going to be forced to deal with that inventory overhang. there’s another false real estate created perception that demand is up and supply is down (aka a “seller’s market”) – this is completely bogus.

Escala is not that great. don’t know about the other place. but this is a shameful tactic.

Comment on Eleven Eleven East Pike Condos (1111 East Pike) by George

George — Fri, 11 May 2012 04:25:18 +0000

This costs more per square foot than the Escala and doesn’t even have parking.

The partition that is called a puzzle wall and the attachment of Kundig’s name to this project is a great example of selling the sizzle instead of the steak. As an admirer of Kundig I think he has tainted his reputation in doing the favor of having his name attached to this project.

Comment on Downtown Bellevue Condo Project Update by Miguel Diaz

Miguel Diaz — Sun, 15 Apr 2012 14:08:57 +0000

Washington Square has significant crime and safety issues:
A man was squatting in the parking lot for a week in a van with an industrial cable running into the wall outlets. Car thefts and Car break-ins are very common. Management does nothing to increase security despite these issues.

Comment on New Rules for Buying a Seattle Condo by Tolin

Tolin — Fri, 13 Apr 2012 19:40:48 +0000

We’ve been seeing similar trends across many areas and price points. Downtown doesn’t seem to be an anomoly. Great info for prospective buyers…

Comment on 3% Down Payment Conventional Condo Loans are Back by Ben Kakimoto

Ben Kakimoto — Fri, 13 Apr 2012 02:56:32 +0000

@Zander – I agree with that. For this particular program, it’ll really only benefit well-qualified buyers with great credit & income, but not much saved for a down payment. Even in the $200,000 price example above, a buyer would probably need at least $13,000 to close (down payment, upfront MI & closing costs). For credit scores under 740, the fees and rates go up quite a bit. It’ll likely price out questionably qualified buyers.

Comment on 3% Down Payment Conventional Condo Loans are Back by Zander

Zander — Fri, 13 Apr 2012 02:37:53 +0000

Anyone else think that 3% down is kind of scary? I’d be as happy as the next guy to hear that real estate has stabilized, but not if it involves questionably-qualified buyers

Comment on 3% Down Payment Conventional Condo Loans are Back by Geordie Romer | Leavenworth WA

Geordie Romer | Leavenworth WA — Thu, 12 Apr 2012 17:41:54 +0000

Thanks for sharing Ben! This is great news and I can see this being really helpful for clients of mine looking to purchase a condo in Leavenworth or at Kahler Glen as a vacation home.

Comment on New Rules for Buying a Seattle Condo by Ben Kakimoto

Ben Kakimoto — Tue, 03 Apr 2012 23:54:40 +0000

Here’s market activity for the past seven days (Seattle condos only)…sales (pendings) outpaced new listings by a nearly a 2 to 1 margin: