Seattle Bubble

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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Here’s an interesting story that popped up over the weekend and had people emailing me and discussing it in the comments and forums. A downtown luxury condo building named Escala is having trouble moving the last 70 units (of 270, so roughly 25%), so to try and juice up their sales, they’re raising prices. [...]

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It’s been a while since I posted any anecdotal observations, so I think it’s time for a few.
First up, the 8-unit condo/townhome complex in my neighborhood, which we have visited a few times before. Here’s the summary of the action in this complex of eight essentially identical units since 2005:

September 2005: Unit #5 listed [...]

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Here’s a follow-up to yesterday’s condo re-version story. Just in time for the condo conversion mania to switch directions, while supply and demand do that thing they do so well, here comes the State Legislature to “fix the problem.”
Renters forced from their apartments to make way for condominiums would get more time to find [...]

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The still-tightening market for financing real estate is not only taking a bite out of individuals’ ability to buy homes. It’s also starting to affect the ability of large new construction projects to get financing to even begin building. New projects like a waterfront condo complex in Everett.
The start of condominium construction on [...]

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