condos Archives - Page 2 of 2 - Seattle Condo Broker

March 26, 2016 By Jeff Reynolds

Just Sold, Insignia Towers 1802S

Seattle Condo Case Study

Insignia Towers | 1802S
Asking Price $925,000
Sale Price $915,000

Situation | Objective
We were referred a high end client who was relocating their family to Silicon Valley. The objective was to develop a creative marketing and sales strategy that would compete with the new construction condo developer who was selling the remaining 14% of inventory in the 2015 twin tower condo project. The client’s ability to move was not conditioned upon the sale of this condo but was extremely important.

Marketing and Sales Strategy
The challenge was obviously competing with the marketing budget of a multi-million dollar condo development. We had to create some differentiation. We were flawless with our photography and hired a production team to film a 4K video vignette that we distributed both domestically and internationally. Our goal was to focus on the amenities of the building and the proximity to the core of Downtown Seattle.

Result

Our marketing received a lot of positive feedback and the response from the market was excellent. We sold the property in 31 days and our client is currently relocating to California. It was a successful venture – our seller was happy with the results.

High Rise Living At Insignia Tower | Unit #1802S from Urban Condo Spaces on Vimeo.

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SeattleCondoBroker.com was designed by Jeff Reynolds. It was built to display the un-paralleled Seattle condo service for buyers, sellers and condo enthusiasts. In partnership with UrbanCondoSpaces.com, we invite you explore past sales, current listings, market data, new projects reviews and more. Jeff and his team of Seattle condo experts are the number one real estate team in Seattle, Washington.

December 18, 2015 By Jeff Reynolds

Olive 8 Condos, Year End Marketing Report

Project | Olive 8 Condos | 737 Olive Wy, Seattle

Are you an condo owner at Olive 8? Maybe just an enthusiast wanting to stay up on market movements and pricing info? In partnership with UrbanCondoSpaces.com I just put together a year end marketing report for Olive 8.

Cost per square foot, average cost per condo sold and the average pricer per rental are all up. You’ll see in our infographic below that the average cost per square foot is up nearly 34% since 2011.

There were 5 sales over a $1,000,000 in 2015 as well.

November 25, 2015 By Jeff Reynolds

Mosler Lofts 2015 Year End Report

In an effort to keep everyone continually informed on the Seattle condo market we are rolling out annual reports for some of Seattle’s best condo buildings. You’ll find these reports both on www.UrbanCondoSpaces.com and www.SeattleCondoBroker.com.

If you live in a building that we haven’t covered, just ask. We would be happy to generate a report for you and your building.

October 26, 2015 By Jeff Reynolds

Sold, Escala 1920 4th Ave #1409

Seattle Condo Case Study

Escala Condos
1920 4th Ave #1409
Seattle, Wa 98101

Asking Price – $635,000
Sale Price – $635,000

Situation

We sold this unit to our client in 2010. Thankfully, it was a great time to acquire the property. Values in Escala were depressed from the recent recession and we were able to strike a very solid price from the previous owner. The reasons for selling were very simple. Through our own research, we learned of two major projects that were in planning on two adjoining sites. Both of these projects could have a major impact on the value of the unit and certainly would greatly decrease the natural light. Once our client was on board with proactively selling the unit, we put a plan in place to execute.

Strategies & Tactics

The goal was to be transparent with buyers about the proposed neighboring developments. We took a similar approach to many of our other sales with professional photography, video, light staging (thanks to our clients great taste in furniture) and we deployed a very robust social media campaign. We sent out our signature “just listed campaign” and reached out to our downtown brokers network.

Result

Given the complexity of this particular sale, we realized that we likely wouldn’t sell at or below the average days on market timeline. With that said, we aggressively pursued multiple offers and set a review deadline a week from when we listed the condo. We received 2 offers. We were disappointed to hear that our buyer backed out of the sale just 3 days into the contract. We put the condo back on the market, procured an offer in less than a week and immediately put our closing plan in place. The buyer profile was an executive level Amazon employee who was re-locating from San Francisco. Our seller appreciated our tenacity in quickly getting back under contract and seemed to be very happy with the results.

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October 1, 2015 By Jeff Reynolds

Sold, 714 Bellevue Ave Unit #101

Seattle Condo Case Study

Building | Address

714 Bellevue Ave – Unit #101
714 Bellevue Ave #101
Seattle, Wa 98102

Situation

We were tasked with finding a great home/condo in the $750,000-$1,000,000 price point for a new client sent to us by the owner of our company. The goal was to identify a good quality 3 bedroom unit for the client to purchase in a 90-120 day window. They would re-locate out of a South Lake Union apartment.

Strategies & Tactics

3 bedroom condos are not as common as one might think. In fact, unless it is a penthouse, most 3 bedroom units are found in older and often less desirable buildings. We sifted through our database of condos, went through traditional routes of exploring 0n-market property and eventually shifted gears towards finding a great “off-market” opportunity. Our team often pre-viewed listings to make good use of our clients time. We caught word of 714 Bellevue Ave #101 hitting the market. Ironically, at that time we were helping a past client lease their unit next door (714 Bellevue Ave #102).

Result

Once the property was identified, we moved quickly. We avoided a multi-offer situation by offering full price and a significant amount of down-payment funds which were attractive to the seller.

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