Pryde + Johnson sold just two units at Ashworth Cottages in Greenlake before the project went into foreclosure. Earlier this year the Seattle Times and the DJC blog looked at what went wrong.
Intracorp has now taken over the project. Originally priced at $739k to $950k they’ve slashed prices and been able to move 50% of the units:
The 1,450-to-1,950-square-foot, 2- and 3-bedroom homes are listed between approximately $399,000 and $649,000, representing discounts of up to 40% off of the original pricing. â€œWith 50% of the homes sold after just one week, the project is a proven success,â€ says Smallwood.
You can check them out on Redfin.
I do find it funny that Intracorp, who had Domaine go to foreclosure, is now picking up foreclosed projects from other developers.
Ashworth Cottages a success with Intracorp Marketing & Sales
Intracorp Marketing & Sales has received eight purchase and sale agreements, representing a 50% sellout of the community in just one week since releasing the homes for sale.
SEATTLE (Oct. 14, 2009) â€“ Intracorp Marketing & Sales LLC announced today that it has been contracted to complete construction, market and sell the remaining homes at Ashworth Cottages, a highly sustainable, bank-owned community located in the heart of Seattleâ€™s Green Lake neighborhood. The 17 available homes at Ashworth, which entered foreclosure proceedings earlier this year, are being marketed and sold through Intracorpâ€™s brokerage division, Intracorp Marketing & Sales LLC.
â€œSince launching sales just a little over a week ago, weâ€™ve already received purchase and sale agreements for eight of these stunning, environmentally friendly residences,â€ commented Jeff Smallwood, vice president of marketing and sales at Intracorp, a locally based, full-service real estate solution provider. The Ashworth project has a total of 20 homes. Three owners are already enjoying the benefits of living in this community one block north of Green Lake.
He continued, â€œTheyâ€™re definitely priced to sell, so we donâ€™t expect the remaining Ashworth Cottages to be around for very long. Itâ€™s the value of a lifetime.â€ Smallwood said the 1,450-to-1,950-square-foot, 2- and 3-bedroom homes are listed between approximately $399,000 and $649,000, representing discounts of up to 40% off of the original pricing. â€œWith 50% of the homes sold after just one week, the project is a proven success,â€ says Smallwood.
Intracorp Marketing & Sales LLC has sold-out four additional residential real estate projects in 2009 alone and is currently selling two additional communities in Issaquah and Redmond. Smallwood attributes Intracorpâ€™s success to maintaining its focus on fundamental sales strategies. â€œGood product that is priced right is selling well in todayâ€™s market.â€ Projects sold out this year through the efforts of Intracorp Marketing & Sales include The Parc in Belltown, City Steps in downtown Tacoma, The Cleveland in Redmond, and The Hayes in San Francisco, all without using auctions or other non-traditional home-sales tactics.
Intracorp also offers a comprehensive list of real estate services including due diligence, market analysis, property management, construction completion, finance and accounting, as well as marketing and sales. Owners and lenders alike are finding these services highly attractive during these tough economic times.
According to Smallwood, Intracorp will continue seeking to provide real estate services to banks and owners on properties like Ashworth Cottages. â€œWe believe our 20 plus years of real estate expertise make us uniquely qualified in providing a full menu of real estate services that lenders need to minimize risk and maximize recoveries on their struggling residential assets.â€
Ashworth Cottages is located at 8010 Ashworth Ave North in Seattleâ€™s Green Lake neighborhood. This community, built to LEED Platinum standards, has a number of unique sustainable features, including: formaldehyde-free doors and millwork; a custom-designed heat-recovery ventilation system that filters out 95 percent of all airborne particles; on-demand hot-water systems that conserve resources by heating water at the push of a button; Built Smart and Energy Star residences that use as much as 50 percent less energy than similarly sized homes built to state code; locally sourced paints, windows, countertops, brick masonry, and framing materials, helping to reduce in transportation costs while supporting the local economy; and the recycling of more than 90 percent of all construction waste created during the building process, helping to divert these materials from local landfills; to name just a few.
More information on Intracorp and its various residential real estate projects, contact Jeff Smallwood at 206-728-6517 or visit www.urban-experts.com.
More than twenty years ago, Intracorp pioneered the urban housing development category for the Pacific Northwest, and since then has become the proven leader in marketing and selling new residential communities in all major west coast markets.