Friday, March 09, 2007

Housing bubble: condos in Seattle

Check out Seattle Condo Review; it’ll make you get mad, laugh, or choke depending on your point of view. Here’s a couple of quotes from the site:

“Designed for the hip and trendy, Carbon 56 (formerly known as Aristo Apartments) is located in the Denny Triangle neighborhood on 2015 Terry Ave. Capitalizing on the success and cache of 2200 and the new Whole Foods located a block away, Carbon 56 is aimed at the young professional urban dweller who can’t afford or doesn’t want to pay over $500,000 for a condo.” Who wants to pay over $500k(if they could pay less)?

“Every now and then, clients will ask if I can find a condo in the heart of Belltown that is also quiet and safe. One would think that might be hard since you are after all picking an urban neighborhood; however, there are exceptions. ” What we have here is a failure to communicate…

“Seattle Heights on 2nd Ave between Wall St and Cedar St has always been a client favorite. This 26 story high rise condo was built in 1994. A few years ago, it had water intrusion problems and the building was wrapped up for more than a year. New siding and windows were replaced. ” Seems like those construction defects cropped up mighty quickly…

Some of the buildings that can be seen at the site are nicely designed, it's the prices that are mind-boggling.

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