Comments on: Blogging Will Be Light This Week

By: The MD

The MD — Mon, 10 Nov 2008 20:15:19 +0000

Matthew, I agree with you. Downtown prices are certainly going to decline a minimum of 30%, and I do believe we’ll see it exceed 40% in several instances.

By: Matthew

Matthew — Mon, 10 Nov 2008 07:46:58 +0000

Bloodbath in regards to residential, not commercial.

I think the downtown condo market is setup for price declines of 40-50 percent in the next 3-5 years.

By: EconE

EconE — Sun, 09 Nov 2008 23:11:10 +0000

Chris I believe Matthew may be referring to the “Running of the Ballardites”.

It is similar to the running of the bulls but instead of bulls, elderly Norwegians will be driving their bumper-sticker emblazoned Volvo 240’s throughout downtown, plowing down urban yuppies as we make our way back to our condos with our green Whole Foods bags in tote.

Yeah…it will be a bloodbath.

By: Dan C

Dan C — Sun, 09 Nov 2008 22:57:00 +0000

uwp, they are already out of Tacoma…done deal. They are just deciding which building in Bellevue/Seattle will give them the best deal.

Chris, Matthew I were alluding to the condo market. The commercial market will be hit hard, mainly in the new office buildings, but it will pull itself through.

By: Chris

Chris — Sun, 09 Nov 2008 21:26:41 +0000

So, how is a Russell move to Seattle connected to the “bloodbath.”

by bloodbath do you mean vacancy north of 20% for office? Or bloodbath meaning Escala’s developers go BK?

By: uwp

uwp — Sun, 09 Nov 2008 20:42:42 +0000

I would love it if Russell moved up here, but i have a hard time seeing it happen. They’ve got pretty nice digs down there.

Although I just checked wiki and it says they have “outgrown their old headquarters.” Hmmmm.

By: ssilvy

ssilvy — Sun, 09 Nov 2008 08:25:05 +0000

Dang, Dan, if that comes true and Russell moves to part of the ex-WAMU building, it’ll be a hell of a lot worse for Tacoma than it will be good for Seattle. Sigh.

By: Mike2

Mike2 — Sun, 09 Nov 2008 04:08:49 +0000

Chelsea, the blog content is very HGTV 2006. That just doesn’t work anymore.

I don’t know what edge Matt is inclined to take, but luxury and near luxury digs are going out quick.

Either the focus needs to shift, or Matt’s going to be competing for the interest of the few hundred people still looking for a upscale urban abobe around downtown.

By: Chelsea

Chelsea — Sun, 09 Nov 2008 03:23:30 +0000

MIke2, could you elaborate on your comment:

“Matt, you need an edge to keep this blog going.”

What sort of “edge” are you looking for?

By: Dan C

Dan C — Sat, 08 Nov 2008 23:11:13 +0000

Well, that is up in the air. A couple of months ago, Microsoft was the main candidate for a sale-leaseback, where they would buy the building and lease part of it back to JPMorgan/WaMu. Recent issues at MS have held this back.

Apparently a large financial tenant out of Tacoma is now the main candidate. You can guess who that is.