Seattle Bubble

Time again already for another inbox-clearing story roundup.
First up, the Seattle City Council is apparently in a development-regulating mood lately. Not only are they tackling the ugly townhome issue, now they’re going after “megahomes” as well.
After years of complaints about suburban-sized homes that devour lawns and encroach on neighbors, the Seattle City Council plans [...]

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Okay, when I saw this this morning, I just had to mention it. There’s a little 8-unit townhome complex in my neighborhood (Kenmore) that I have mentioned on here a number of times in the past. Most recently, two of the eight units were up for sale. As of this morning, four [...]

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The condo battle in my neighborhood (Kenmore) seems to be heating up. In April I mentioned a nearby townhome in an 8-unit complex that went up for sale at $360,000, 20% higher than any unit in the complex has ever sold for in the past, and a mere $30k less than a unit just [...]

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Regarding last night’s Amazon-only Vulcan open house, a reader wrote:
I work for Amazon and just got back from Vulcan’s exclusive Amazonian-oriented event. They’re offering $5,000 incentives for those of us who want to work just a SLUT stop away from home. The excitement was not palpable, though the beer and wine were free.
According to the [...]

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It’s official: The Seattle condo market has hit finally a wall. Here’s a little article from the Puget Sound Business Journal on Friday that goes into all the details:
With more than 400 condominiums under construction in a faltering housing market, Seattle-based Vulcan Real Estate has decided to sweeten the deal for potential home buyers.
In [...]

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Is this the first sign that downtown Bellevue has reached its condo saturation point? Seattle Times: Bellevue condo project, European Tower, put on hold
The housing slowdown has claimed another local high-rise, high-end condo project.
The developer of 16-story European Tower, a downtown Bellevue project whose design features just one unit on each floor, said Wednesday [...]

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