Weekly Wrapup

We helped a few clients write offers on townhomes this week. One client, had his full price offer accepted on a $1.15m Capitol Hill townhome that received 3-4 offers, likely because he also wanted to buy the townhome next door. We were surprised that the townhome ended up with an offer deadline and multiple offers since it had previously had been on the market at the end of 2017 and didn’t sell, and when they relisted in 2018 it only had 1 photo (a rendering.)

The other client found a collection of off-market townhomes that will sell entirely off-market with none hitting the MLS/Redfin.

News that caught our eye:

• PSBJ: Amazon leases new office building in South Lake Union
• Zillow: List price is meaningless
• Seattle Times: Seattle-area rents drop significantly for first time this decade as new apartments sit empty
• The Urbanist: EIS Scoping Report for Backyard Cottages in Seattle Released
• The Lens: The need for condominium liability reform
• Why Roy Street Commons, a short-term rental exception, stands alone on Capitol Hill and the Seattle Times, ‘How the sausage is made’: Legal pressure helped Airbnb host in Seattle win special deal
• Seattle Times, Need a plumber in the Seattle area? Follow these tips to get the job done right
• Seattle’s popularity among foreign real estate investors rises as the Bay Area’s drops
• Seattle Times, If you think Seattle traffic is bad now, just wait until these projects start
• Seattle Times, Seattle’s Aurora stretch is frozen in time, but voters are turning up the heat on change
• Mike Rosenberg: % of homes worth $1m by metro – Seattle is 6th, ahead of NY
• NWMLS, Seawhawks missing playoffs will heat up the market earlier than normal – we doubt this