Wednesday, August 19, 2009

Woodway Mansion Voted Down

Woodway is voting down a $6.1 million bond measure that would have been used to purchase a 1930's mansion to convert into the city hall and community center. See Seattle Times for more details. The reason it caught my attention is this would have been the largest purchase in Woodway since Ewing & Clark sold a 9 acre estate in December 2006. See Woodway Estate.

Monday, August 10, 2009

New condo building websites coming soon!

Thursday, August 6, 2009

Overall Sales Numbers for July

There was an interesting article in the Seattle Times today:


The article concentrates on homes sales (be sure to read about Condos below). In short, what the article says is when you divide the local area in 5 parts (Seattle, Eastside, North King County, Southwest King County, and Southeast King County) and compare the number of house (not condos) sales from July 2009 versus July 2008 you see an increase of the number of transaction in 4 of the 5 areas (North King County was only area with less transactions: 66 versus 67 transaction in the previous year). But prices are down between 12% and 14.3%. The article goes back and forth with theories of whether this means the market is at the bottom. For example, the argument for prices may go up is the theory that demand is raising thus prices will too. The other side says with the $8,000 tax credit for new buyers set to end on November 30th and with foreclosures that are presumed to not have peaked in our area that the prices will continue to stay low.


What many will miss in the article, is you have to be sure to click on the arrows and see graph 2 of 3. It takes the same 5 areas (Seattle, Eastside, North King County, Southwest King County, and Southeast King County) as it did for the homes and shows the number of transactions and the median sales price and compares July 2009 versus July 2008. Unlike homes, condos sales transactions are only up in one area: Eastside which is up 8.7%. The other areas are either even (North King County) or down between 14.5% to 37.5%. In addition to the number of transactions being down in most areas, the prices are down in all areas (between 10% and 26.1%). While I think these numbers can be skewed a little bit because the number of transactions there are in certain areas (ex. North King had 13 condo sales in both July 2009 and July 2008) which makes total price comparison a little tricky - a better comparison would have been price per square foot - it still shows prices overall are down for condos as it is for homes.

While these numbers, article, and blog may seem daunting, it still may be the perfect time to buy a condominium. The tax credit for first time home buyers is set to sunset on November 30th, armed with the the market data and real estate expertise one of our agents may be able to find you the perfect condominium for your budget.

Wednesday, August 5, 2009

Living Without a Car

Living without a car in a major American city sounds daunting, however Seattle is one of those wonderful city that makes it so easy to do without an automobile, in a month you will wonder why you ever bothered.

There are condos for every budget and taste, close to urban markets world class shopping, fine dining or great cafes with simple pub fair or ethnic food from around the world.

Walk to work and window shop along the way or stop at one of the millions of Coffee Bars Seattle is famous for. There is a strong sense of community that is unparalleled in most large cities.

People are moving into the city forsaking the suburbs where everything is miles apart, to enjoy coming home from work walking to dinner and catching a movie , a play or going on the famous art walk and never need to step into a car.

Shopping at the famous Pike Place Market is like living in a European city where everything is the freshest available, and you buy from your favorite fish monger or Bakery or Vegetable stand. Pick up an arm load of flowers for next to nothing, they stay fresh because they were picked that morning. What a great way to spend your Saturday Morning, instead of fighting traffic to go to Safeway!

The transit system is easy and buses are free in the core area, you can hop the train and pop down to the International district for dum sum or take the monorail to Seattle Center for any number of festivals.

All of this and you don't have to circle the block looking for a place to park and when you do paying an arm and a leg for the priviledge. You are free ! While others are still looking for the elusive place to park you are seated and drinking a lovely glass of wine.

For a tour of the available condos downtown contact one of our "in city " experts and we can take a stroll and look for your new home. Just a hop skip and a jump from everything!
Ewing and Clark is your "go-to" firm to show you your new home and carefree lifestyle.

Monday, August 3, 2009

King County Condominium Sales Data - July 2009 & 2008

In July 2009, 384 condos sold in King County. The median sales price was $250,000 or $247 per square foot and a median days on the market of 50 days.

This compare with the previous July where 459 condos sold, for a median price of $268,000 or $276 per square foot and a median of 49 days on the market.

When comparing July 2009 with July 2008, the days on the market went almost unchanged (up only 1 day from 2008), but the total sales were down and the price per square foot was down a little over 10%.

The July 2009 numbers are very similar from the previous month's numbers (see my blog dated July 7th on the June data). The number with the biggest change is the number of units sold which is down about 5% from the 406 condos sold in June 2009, but compared to last June and July that is a minor drop in the number of sales when sales dropped over 12%.

From this data, one could conclude that prices have been steady the last two months and the pricing is reasonable especially when compared to last year.

The Vine is Belltown

One of my favorite buildings in Belltown is the Vine. They have units for every pocketbook , if you want a studio you can get a nice unit in great building for under $300,000, if you want a large luxurious penthouse that is available as well, for plus or minus a million dollars.

The community is friendly, the dog owners know the other dog people and they know all the dogs names. There is a wonderful common area deck that over looks Elliott Bay that is ideal for coming home, taking a bottle of wine and relaxing with your neighbors, taking in the breathtaking view or just reading a book. There are comfortable chairs, tables, and grills; and it is beautifully planted with huge pots to enjoy and not have to take care of - it is done for you.

The units are stylish with gas gourmet kitchens, well thought out floor plans that are not just cookie cutter. Many of the two bedrooms have two parking spaces: that is a rarity in the city.

The building is kept is great condition , and the staff is friendly and very helpful. The concierge is helpful in all sorts of ways from accepting packages to providing good 24 hour security.

The Vine is one of the best, in city living, with style, security, and comfort. To see more of this wonderful building call Ewing and Clark at 206-441-7900