Remember how Leslie Williams was quoted about not having any of her projects price reduced? And without even really thinking about it I found a counter example?
Well today Williams Marketing priced reduced Mosler Lofts unit #TH2 $20,000 to $655,000.
Seattle reporters, please do your homework. You’re paid to report; this is my hobby.
Update: And Ben has a look inside during a hard hat tour.
Popularity: 12% [?]
23 responses so far ↓
1 Fake Leslie Williams // Oct 21, 2007 at 7:54 am
That is not a “reduction” any more than that structure is a “project.” What Williams is doing is creating an invigourating urban experience and offering an attractive entry into a world of decadent upscale living. The recent two-myriad incentive represents a rallying call to encourage all Seattle residents to explore the possibilities that such an extremely unique invigourating urban experience. The amenities in Mosler are literally unmatched anywhere in the world.
I am frankly dismayed that we did not find an entrant at our original offering point, but please do not conflate this incentive with what you have so callously called a “reduction.” Perhaps in such low-class neighbourhoods as Greenlake there might be a “reduction” at a “condominium,” but in Belltown we do not do such a thing.
2 newbuyer // Oct 21, 2007 at 9:22 am
That actually sounds like a really nice place. The building is beautiful and in a good location. I like the sound of a 2-floor unit with a den and 1.5 bathrooms.
3 confusa // Oct 21, 2007 at 4:44 pm
I have gotten NUMEROUS emails on price drops for Azul in Fremont so this is obviously untrue.
4 Evan // Oct 21, 2007 at 7:47 pm
more info - condo sales as reported by New Home Trends (good source, media!) show a precipitous drop in sales from Q2 to Q3 in “Central Seattle.” In addition 11 sales have been reported so far in Q4 - that only amounts to 12 days of October (only one weekend), but still, they’ve basically come to a standstill. curious how this will look when the monthly MLS comes out
5 blackandtan // Oct 21, 2007 at 10:39 pm
I’m just sitting here laughing at all of you. I’ve watched this same thing happen in Miami, and now, it’s happening here. But don’t believe me, read the link below. You’ll be seeing lots of “reductions” soon…
http://seattlepi.nwsource.com/local/336370_downtown22.html?source=rss
6 Dan C. // Oct 22, 2007 at 9:06 am
Fake Leslie Williams, how do you explain the glut of buildings coming onto the market as discussed in today’s P-I? There were no obligatory quotes from you in there…but Matthew Gardner was well represented. Also, can you explain how Domaine plans to handle that clusterf*ck of a five-way stop it is located on? I can’t wait to spend an hour at that stop sign when I am trying to get home.
(Funny post by the way)
7 Steve // Oct 22, 2007 at 10:20 am
Matt -
Maybe you should practice what you preach: “Seattle reporters please do your homework. You’re paid to report; this is my hobby. ”
If you looked at the property history for the Mosler lofts unit that you cited you will see that it was originally listed by Erica Clibborn not Leslie Williams for $649,000 then raised to $675,000 and then lowered to $655,000. Although it was lowered it is still $6,000 higher than the original listing price so I hardly consider that “reducing” prices it is most certainly adjusting prices something that an experienced agent will do.
Additionally, what she said was the prices on HER projects have not been cut last I checked the Listing agent was Erica Clibborn. And if you’re going to refer to 5th and Madison for “price cuts” like you said your self: “They re-adjusted a bunch of prices. Some increases as much as $25,000 and decreases up to $20,000.”
Matt – if you’re going to call someone out for something at least do it accurately.
8 Fake Leslie Williams // Oct 22, 2007 at 10:25 am
The “glut” of “buildings” represents a very unique cross-section of Seattle’s distinctive real estate profile. We have seen an influx of very unique urban experiences for our rapidly-growing upper-class base of would-be urban lifestyle enthusiasts (what Dan C. might call a “condominium buyer”). For those urban lifestyle enthusiasts who are not within their means to afford an exceptionally unique offering, we have seen more modest dwellings start to appear. While not as superb as, for example, “1,” these experiences will enable upwardly-mobile professionals to enter into the wondrous dreams of urban lifestyle ownership.
Regarding Domaine: I am sure you are aware of my efforts to change that “five-way stop” to a more enabling functional interchange. Simply stated, more lavish buildings deserve priority. I have instructed real estate consultation specialists to petition our local authorities to change that stop sign to a stoplight, giving priority concomitant with price per square foot to our urban lifestyle enthusiasts in Domaine and other such upscale urban lifestyle centres.
9 Matt // Oct 22, 2007 at 10:39 am
Good comment Steve.
Unfortunately since I am not an agent I don’t have access to the MLS to review listing histories.
ZipRealty does have a price listing history feature but oddly they have banned me from using their website. Redfin will be adding this feature in January but until then I only have my memory to rely on which can be sketchy at times. However, a reductions a reduction whether it takes the listing below the original listing price or not.
Though I feel like we’re getting caught up in the details here. The point is that there are reductions, there is inventory that is sitting and developers are beginning to feel the crunch. Getting a quote from Leslie saying what she did is misleading the uneducated public.
Also when Leslie Williams speaks and is quoted as president of Williams Marketing I believe she is representing all of William’s projects and not just the ones that she is personally acting as a listing agent on.
If bored at lunch I will bribe an agent and I’m sure I can have them find a listing that has dropped below original listing. If I can’t I’ll buy you a drink next meetup.
10 Dan C. // Oct 22, 2007 at 10:43 am
HAHA! Great comment FKW!
11 Bryon Ziegler // Oct 22, 2007 at 11:07 am
Just to clarify. Mosler Lofts has never reduced prices. Townhouse 2 was just increased from 649,900 to 655,000. The website’s reference to 675,000 is for home corner home 703. We inadvertantly left off the pricing for the Townhouse. Nice catch, we’ll get that posted on the site. The only other remaining home is Penthouse 4. Townhouse 2 actually came back on when the owner moved to Africa for the Doctors Without Borders program, otherwise that would be sold as well…It is truly a remarkable building.
The building is looking spectacular inside and out.
12 EconE // Oct 22, 2007 at 11:20 am
“Mosler Lofts has never reduced prices”
Neither had 2200Westlake, or Cosmopolitan…
until they did.
13 mhays // Oct 22, 2007 at 12:00 pm
Blackanadian, Miami has been building over 10x the number of highrise units we have. It’s not parallel at all.
14 richard // Oct 22, 2007 at 12:04 pm
If you looked at the property history for the Mosler lofts unit that you cited you will see that it was originally listed by Erica Clibborn not Leslie Williams for $649,000 then raised to $675,000 and then lowered to $655,000. Although it was lowered it is still $6,000 higher than the original listing price so I hardly consider that “reducing” prices
Looks more like she’s throwing darts and missing the bullseye.
Ziprealty has a complete history of sales price changes shown in some markets, but not in Seattle. By comparison, the Seattle listings are lacking about 70%of the MLS info available in other cities. Odd.
15 Dan C. // Oct 22, 2007 at 12:18 pm
Is this really worth arguing about?
16 jo // Oct 22, 2007 at 12:34 pm
i know the last two units at meritage (williams marketing building) both needed price drops before selling
17 jo // Oct 22, 2007 at 12:41 pm
lol at the “urban lifestyle enthusiasts” comment
18 Bryon Ziegler // Oct 22, 2007 at 12:51 pm
The Mosler Lofts Townhouse originally included tandem parking, hence the higher price. Now it comes with a single full size space. That is why it was 675,000 (tandem spaces), then 649,900 (one space), then recently raised to 655,000 (one space). The tandems were sold to another buyer.
b
19 Evan // Oct 22, 2007 at 4:22 pm
If we could take a second from the debate about pricing…
IMHO, Mosler Lofts is by far the best looking NC condo in Seattle - hat tip to Mithun on the design. Hope more developers take note, because its a nice compromise between the absurdly over-the-top grandeur of , say Escala/1/FourSeasons and the sawdust piles with small windows, no decks and terrible skins (not naming names - you know who you are). Hopefully the slowdown will beat down land prices a bit and allow a Mosler-type project to be built again
20 Matt // Oct 22, 2007 at 4:29 pm
I totally agree with Evan. Though of course feel it is the second best looking after Trace Lofts :).
21 Seattle Bubble » Blog Archive » On Condos and Condo Marketers // Oct 23, 2007 at 5:30 am
[…] Speaking of Williams marketing, Matt at Urbnlivn calls them (and Aubrey Cohen) out yet again on the “we aren’t lowering our prices” lie: Well today Williams Marketing priced reduced Mosler Lofts unit #TH2 $20,000 to $655,000. […]
22 Erica Clibborn // Oct 24, 2007 at 9:42 am
Thank you for your comments regarding my lisitngs at Mosler Lofts. As Bryon mentioned we had a parking change. The price was also increased a bit. In the future, if you would like to discuss pricing, the market or actions with my listings, please feel free to contact me directly at eclibborn@williamsmarketing.com. I am happy to answer any questions about TH2, 703 and the PH.
23 Merry // Mar 29, 2008 at 6:06 pm
Fake Leslie Williams, you are LOL funny! I must say, I swallowed that marketing bait, hook, line and sinker, and here I am downtown “living the FLW Dream!”
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