urbnlivn, a seattle condo & real estate blog

I’m always happy to help a reader out. In this case, Ryan, lives below this co-op unit and wanted our help finding him a quiet upstairs neighbor. It’s at 2020 Broadway E, Unit #3:

$349k for a 1 bed, 1 bath, 743 square foot place.

Popularity: 1% [?]

Better hurry is the tone of Brix’s latest email blast:

Inventory is dwindling at Brix, where just 26 homes remain for sale. In addition, the community of brownstones, flats and lofts in Seattle’s Capitol Hill neighborhood is now approved for FHA loans with 3.5 percent down.

“Now that we have FHA approval, homes are selling fast,” says community sales representative Amanda Loring. “Buyers should act quickly before we are sold out.”

Brix started selling three and a half years ago and has already had to do one auction. I wouldn’t worry too much about acting quickly.

Popularity: 1% [?]

A very nice looking penthouse loft came on the market at 81 Vine, unit #504.

$599k for 923 square feet. Last sold in November 06 for $550k.

(Update posted via satellite Internet at Bahia de la Luna in the south of Mexico. I won’t be posting much but have some scheduled posts to come out over the next few days.)

Popularity: 2% [?]

According to Redfin, there are 161 open houses in Seattle this weekend. Here are a few of the more interesting ones:

225 NE 65th St #305

Sunday, March 14, 2010 1:00 PM – 4:00 PM
This one-bedroom unit above Latona Pub is in an awesome location. Walking distance to Greenlake, Whole Foods, and honky-tonk karaoke at Little Red Hen. What more could you ask for???

2030 Western Ave #305

Sunday, March 14, 2010 1:00 PM – 4:00 PM
I love the stained glass on this one-bedroom unit in Belltown. The listing claims it has a view of the sound, but it doesn’t show a picture. I’m guessing by the fact that it’s on the third floor that it’s got a big old view of the viaduct. On the plus side, that thing will probably crash to the ground any day now.

2033 2nd Ave #908

Sunday, March 14, 2010 2:00 PM – 4:00 PM
The price on this one-bedroom unit at Cristalla just dropped in price by $10K. It sold in 2005 for $212,492 and they’re currently listing it at $340,000. Great deal for the last buyer? Or ridiculously optimistic seller?

2814 NW 56th St Unit A

Sunday, March 14, 2010 1:00 PM – 4:00 PM
I love the big windows on this new three-bedroom townhouse. And it’s within walking distance of Archie McPhee, which is the best reason I’ve ever heard to spend $400K.

623 Aloha St

Sunday, March 14, 2010 10:30 AM – 12:30 PM
This one-bedroom live/work loft in Queen Anne has a garage door on the livingroom. Think of the possibilities!

Popularity: 2% [?]

Finally a Twenty-Five on the Park unit hits the MLS, 1818 11th Ave Unit A is listed at $575k. 1,506 square feet, 2 beds, 2.25 baths.

Current average appraisal:

$473,571

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Popularity: 2% [?]

Realogics Sotheby’s International Realty is taking over sales for the remaining 100 units at Hjarta in Ballard and Florera in Greenlake. If you’ll remember the developer Pryde + Johnson switched from selling units at these two buildings to leasing them. The press release below indicates this was part of a debt restructuring in 2009. Sounds like all leases are going to expire in 2010 and will not be extended.

Their new pricing:

• Studios (578 – 598 sq. ft.) will start from $244,950;
• One bedrooms (614 – 921 sq. ft.) will start from $274,950,
• One bedroom plus dens (792 – 923 sq. ft.) will start from $314,950;
• Two bedrooms (1,037 – 1,447 sq. ft.) will start from $399,950
• Two bedrooms plus den penthouses (1,331 – 1,578 sq. ft.) will start from $589,950
• Three bedroom plus den penthouses (1,909 sq. ft.) will start from $799,950

Inventory will be officially released March 27th, the day before the 5th and Madison auction.

I haven’t visited either project but here are some November 2006(!) comments from a reader named Greg who visited Florera.

Disclosure: Realogics is advertising its Bulk Buy program on Urbnlivn.

[Read more →]

Popularity: 4% [?]

The Seattle Times does a great job digging into a lien situation at the Four Seasons, Posh Four Seasons project in downtown Seattle faces liens, lawsuits:

More than a year after the $120 million Four Seasons Hotel and Private Residences opened to considerable fanfare, a dozen firms that designed and built the ultraluxury project say they haven’t been paid in full.

They have recorded claims totaling more than $34 million against the downtown Seattle building. The largest lien, for $23.7 million, was filed in August by Lease Crutcher Lewis, the project’s general contractor.

This comes two weeks after Four Seasons announced a number of price reductions.

Popularity: 3% [?]

There were 30 townhouse and condo sales last week according to Redfin. Here are some of the more interesting ones:

The lowest price per square foot in the city last week was $182 for this three-bedroom townhouse in Meadowbrook (that’s a euphemism for Lake City).

The highest price per square foot was also one of the the smallest purchase prices: $197,000 for 410 square feet. That’s $480 per square foot for a sixth floor studio in Belltown’s Gallery.

The highest purchase price in Seattle last week was $825,000 for this beach-side two-bedroom unit on Alki. So beige!

Someone who bought into Noma in Ballard in 2007 resold their one-bedroom unit for $10,450 more than they paid in 2007.

Marselle units are still selling like hotcakes with two units sold last week: a first-floor one-bedroom unit for $291,000, and a second-floor one-bedroom unit for $250,000.

Popularity: 3% [?]

There are 148 open houses this weekend according to Redfin. 13 of those are participating in a Capitol Hill Open House Tour from 1-4 on Sunday. There’s not actually any coordinated tour, they’ll just all be open at the same time, and they’re all within walking distance.

Here’s the map:



(click to open a fancy interactive version in a new tab)

And here’s the list of units:

My favorite of the list is 601 Belmont Ave E Unit F9:

Love those big windows, and it’s got a pool!

We blogged about the Homborness unit last month.

Oh, and confidential to the promotors of the tour: Your non-Seattle-native slip is showing. Capitol Hill is spelled with an o, not an a.

Popularity: 5% [?]

The 5th and Madison auction site is up.

If you want to skip registration here is the price list for the 18 units.

I’ve spoken to a few folks who are pretty excited about the auction because of the low starting bids. However, if you read the fine print you want to beware the unpublished reserve price. From their fine print:

All homes have an unpublished reserve price (Unpublished Reserve Price) which means that the seller has established an unpublished minimum selling price. The Starting Bid is not the Unpublished Reserve Price. In order to become the winning bidder of a home, a bidder must have the highest bid and meet or exceed the Unpublished Reserve Price. The highest bid is subject to acceptance by the seller (see “Subject to Confirmation” section below). With respect to a high bid less than the seller’s reserve, the high bid, resulting purchase agreement/offer are subject to the seller’s acceptance, counter-offer or rejection during the auction, in the contract room, and/or within 5 days following the auction.

So yes, a $195k starting bid for a 800 square foot 17th floor unit is likely too good to be true.

Other details to note:

• 18 units from 808 square feet up to 1958 square feet
• Starting bigs from $195k
• Auction day is March 28th. Starts at 1pm, be there by noon.
• They’ll have practice auctions on March 21st
• Registration deadline is March 25th, though you can register day of, but then you’re limited to only one unit
• Auction office is open from 10 am to 5 pm daily
• $5,000 deposit
• Buyers who close within 45 days with the preferred lender will get a $5,000 credit towards closing costs
• FHA financing available
• If you bring an agent they’ll get 2%

Popularity: 5% [?]