Komo Covers 2200’s $26m Construction Defects

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Over two years of work. 10 months of work per building. New balconies, windows and floors. $26 million dollars. From ‘It hasn’t been a good situation at all here from the beginning’:

20 Foot Ceilings at 2200

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Twenty-foot ceilings and a two-story wall of windows provide a stunning focal point in this townhouse-style 1 bed + den, 1.5 bath at 2200. The 2nd floor location allows for a true patio, but I’m not convinced that direct access to the street is a plus. Granite in the kitchen is tile, not slab, but… Read More

Interesting Sales Last Week

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There were only 14 43 closed condo and townhouse sales in Seattle last week. Surprisingly, that still included multiple sales at Trace North and 1350 Alki. Details follow. 1350 Alki Ave SW Units 5S and 2N at this Alki condo building closed last week for $570K and $477.5K respectively. Built in 2008, it looks like… Read More

Find More Foreclosures on Redfin

Redfin - Seattle Condo Foreclosures

Yesterday Redfin switched to a new data source, giving you a more complete view of the foreclosure market. When you do a search on Redfin, select the option for Foreclosed homes to map the shadow inventory. As Redfin explains, shadow inventory is made up of “homes that have been foreclosed upon by the banks, but… Read More

Domaine Heads to Foreclosure, Veer Lowering Prices…

Domaine Foreclosure The Daily Journal of Commerce has the news that, Trustee’s sale is set for Intracorp condo project. That project is Domaine. Looks like Ben has a subscription and has the full details in, Domaine development to be auctioned: The article states a limited liability company affiliated with Intracorp is in default on a… Read More

MLS Watch: Lofts, Big Reductions

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1310 E Union #202 is down to $800,000. 2200 Someone sent me a photo of a notice of default for a 2200 unit. Belltown Lofts Need a 790 square foot modern space with commercial kitchen? Check out 66 Bell St #4 for $300,000. Avalon Need a cozy small space in Lower Queen Anne? Check out… Read More

MLS Watch: Lofts and Price Drops

2200 Loft Looking for a loft-y unit in South Lake Union? 900 Lenora St #W102 is apparently very different from it’s neighbors: This is not your ordinary cookie cutter condo! More than $50,000 in custom upgrades. Modern unit has 15′ ceilings, loft style bedroom, excellent light and open feel. Custom features include: 36′ pro range,… Read More

Beware of Condo Dues!

The Seattle PI has a full page, above the fold, lengthy story on the danger of increasing condo dues for new construction projects. I guess people are tired of reading about the election and the bailout. After moving into the building and forming their own homeowner association two years ago, 2200 residents were faced with… Read More

No housing woes here!

Reuters, No housing woes in booming Washington state (via Fast Times): Lori Mason Curran, market research manager at Vulcan Real Estate, expects 135,000 people will move into the Seattle market over the next five years, propelling demand for housing that Vulcan’s property unit is building in South Lake Union. I guess I should hang onto… Read More

MLS Watch – 2 weeks of new construction updates

2200 25 Bellagio Added 3 more units to the MLS for a total of 4. Their HOAs feel really low at $0.26/square foot. Cosmo 28 Decatur Decatur recently dropped prices on a number of units between $3k and $10k. Though oddly raised the price of #1306 $3k to $302,950 and #1007 $5k to $465,960 Equinox… Read More

Seattle one of best places to flip

This was just going to be a bonus link but I thought it was a good opportunity to check in on our favorite flipper condos… First the link: Forbes, Best Places To Flip A Home: However, those looking to make a quick buck may do so in a number of markets ripe for a well-spotted… Read More

MLS Watch

Sorry for the slow posting, work is killing me. 2200 vs. Cosmo 36 vs. 65. It’s also interesting to note that there are 4 new listings at 2200 listed by John L Scott’s Jon Hunter who is working for Vulcan on Enso/Rollin/Veer. The listings all look curiously the same. Are these Vulcan owned units that… Read More

MLS Watch

2200 vs Cosmo 2200 – 36 vs Cosmo – 54. Arcadian Court #205, my friend Katrina’s unit that she listed on Redfin, went STI in a two days. Fini I hear there was a line up 25 people deep for Fini’s opening day. I also hear they started raising prices throughout the day in reaction… Read More

Flipping. It’s not just something you do to pancakes.

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This weekend the Seattle Times had an article on condo flipping, Tactics in place to deter buyers from flipping and it more or less paints a rosy picture of the situation here in Seattle. The Cosmo Blog has a follow-up blog post titled condo arbitrage. This article and topic really deserve a length post but… Read More

MLS Watch: $5.9 mil and everything else

2200 vs Cosmo Inventory Glut Match 36 versus 39. Winner: Cosmo. Cristalla There are 5 units available at Cristalla. The most recent to come on the market is a 436 square foot studio at $379,990. Only $872/sq ft. I guess I’ll stop bitching about Trace’s price per square foot. But it does have a $6,000… Read More

Man suing 2200 speaks up and yen based loans

If you do not read the comments here are two recent cautionary comments worth noting. The first from Jerry, the man suing Vulcan over 2200, speaks up: Some of the issues evident from an early walk through of my unit included the fire sprinklers being installed above the framing for the ceiling (which would have… Read More

MLS Watch: Cosmo close to catching 2200

It’s been a boring week, no exciting new re-sale units. If you see any let me know (mail *at* mattgoyer.com) or leave a post in the forums. I often wonder who can afford all these pricey condos especially given the low median condo price in Seattle. The PSBJ has a small article on Washington wages,… Read More

The Stranger blows open the situation at 2200

The Stranger blows open the situation at 2200, Lawsuit and Tenant Complaints Dog Vulcan in Denny Triangle. It’s a lengthy article with lots of thought provoking questions. Here’s a teaser to get you started: However, on March 26, 2007, O’Leary filed suit in King County Superior Court against the developers after a series of delays… Read More

MLS Watch: Re-sales galore

Alright, no more silly exchanges in the comments! I’m too busy enjoying the sunny weather in San Francisco to keep deleting all the off topic comments. Let’s keep the discussion focused on condos. If you want to stray off topic or want to talk about something else please use the forums. To get us back… Read More

MLS Watch

2200 More new listings, more price reductions. One for $20k. My search shows 31 active listings. I’m sure there’s more on Craigslist either as rentals or FSBO. My favorite new listing is this $731/sq ft studio, 900 Lenora St #W702. Check out the nice view that is about to go away :). Bagley Lofts Unit… Read More