Riverstone Condos in Bellevue?
| Author |
Message |
|
mukoh
Bubble Bloviator
Joined: Fri Apr 04, 2008 11:46 am
Posts: 198
|
 Re: Riverstone Condos in Bellevue? LHR,
The russian sandwich shop is a death trap though. At least two very serious food poisonings and investigations by the health district.
|
| Fri Feb 20, 2009 11:48 am |
  |
 |
|
Sponsor Ad
a brief commercial break
|
A Word From Our Sponsors
|
| |
Seattle Bubble would like to thank the above sponsor for their support.
|
|
perfectfire
Bubble Banter Boss
Joined: Sun May 20, 2007 11:40 pm
Posts: 540
Location: Bellevue
|
Re: Riverstone Condos in Bellevue? The Crossroads is a weird place. You got the giant chessboard and other chess games going on. Right next to that you have Magic/Pokemon CG/D&D games going on. Then you have the AARP folk music stage in front of Joann's. One time I saw a group of women spinning yarn in front of Half-Price Books. They've already lost a couple lessees. The Chili's has been gone for months and that huge shoe store is gone too. The Circuit City will be gone soon.
_________________
Remember, if you rent it's not a home, it's a hovel.
|
| Fri Feb 20, 2009 11:50 am |
|
|
|
Lake Hills Renter
Bubble Banter Boss
Joined: Sun Feb 18, 2007 9:13 pm
Posts: 570
Location: Bellevue
|
Re: Riverstone Condos in Bellevue? mukoh wrote: LHR,
The russian sandwich shop is a death trap though. At least two very serious food poisonings and investigations by the health district. Hmm, didn't know that. Their pastrami sandwiches are really good.
|
| Fri Feb 20, 2009 12:34 pm |
|
|
|
Pndscm
Bubble Watcher
Joined: Wed Jun 27, 2007 8:00 am
Posts: 18
Location: seattle
|
Re: Riverstone Condos in Bellevue? I just sent the link to "champagne" over to my girlfriend and she seemed really excited. Ms. Mittens wrote: I'm thinking we could buy some property and do this as well, but instead of themed by champagne, themed by cheap light beers...
It would read like this:
Experience the monotony of combining fire-code compliant exterior design elements with sloppy interior detailing. Enjoy impressively low-rent kitchens, tiny master bedrooms with the appearance of space thanks to ceiling mirrors, and expansive yards with which to let your dogs and cats relieve themselves. Agonize over life in the heart of Bellevue, just steps from the Mexican food court at Crossroads Mall, car dealerships of cars you can't afford to stand next to, and high rises that block the view of those pesky Cascades. Live meagerly. Delight in Light Brew! I think she might be on to something!
|
| Fri Feb 20, 2009 2:57 pm |
|
|
|
perfectfire
Bubble Banter Boss
Joined: Sun May 20, 2007 11:40 pm
Posts: 540
Location: Bellevue
|
Stealth repartmenting Has Riverstone finally gone repartment? A google search turns up several links for Riverstone Bellevue Apartments, but I don't see anything about apartments on their sign or website, plus they still have some units for sale on the MLS. I guess this is a stealth repartmenting.
_________________
Remember, if you rent it's not a home, it's a hovel.
|
| Mon Mar 09, 2009 12:10 am |
|
|
|
RottedOak
Bubble Watcher
Joined: Sat Jun 23, 2007 9:09 am
Posts: 29
Location: Seattle
|
Re: Riverstone Condos in Bellevue? Quote: I don't see anything about apartments on their sign or website, plus they still have some units for sale on the MLS. I guess this is a stealth repartmenting. That's entirely possible. Where I live ( not Riverstone, just to be clear), the owner converted to condos, but only sold about a quarter of them. The remainder are still available for sale, but they are also available for rent. The sale listings are on the MLS. The rental listings are on Craigslist. Officially, different units are listed in each source, but the truth is that the owner would take an offer of either type on any available unit. The "stealth" part breaks down a bit when it comes to physical signage. At one entrance is a "For Sale" sign. At the other entrance is a "For Rent" sign. I guess the owner can only hope that prospective buyers won't go past the other entrance and realize that they could be renting for substantially lower monthly payments than it would cost to buy.
|
| Thu Mar 12, 2009 9:55 am |
|
|
|
Lake Hills Renter
Bubble Banter Boss
Joined: Sun Feb 18, 2007 9:13 pm
Posts: 570
Location: Bellevue
|
Re: Riverstone Condos in Bellevue? I wonder how many (or few) people would have bought if they'd known half the complex would return to rentals. As we all know, nothing makes your home value suffer like the proximity of dirty renters. 
|
| Thu Mar 12, 2009 12:18 pm |
|
|
|
rose-colored-coolaid
Bubble Banter Boss
Joined: Mon Jun 18, 2007 10:26 am
Posts: 1978
|
Re: Riverstone Condos in Bellevue? RottedOak wrote: The "stealth" part breaks down a bit when it comes to physical signage. At one entrance is a "For Sale" sign. At the other entrance is a "For Rent" sign. I guess the owner can only hope that prospective buyers won't go past the other entrance and realize that they could be renting for substantially lower monthly payments than it would cost to buy. This gives me a great image of guys sitting around asking themselves how they're going to pull this thing off. A - Ok, we've got units for rent and for sale, but people will expect signs. B - Are you worried that buyers might change their mind if they see a "For Rent" sign? A - Heck yeah. B - OK, you know how MSFT is just north of here. People with good jobs will be driving down 140th. We put the for sale sign on the south end of the complex. Anyone going to work in the morning will see the sign, buy a condo, and not even get to the for rent sign until it's too late. A - Hmmm, I like it, but what about in the evening when those with jobs are going home? B - I guess we switch the signs... A - You're right, that is the best plan possible. Way better than this plan I had a few years ago to not build a bunch of condos.
|
| Thu Mar 12, 2009 7:02 pm |
|
|
|
perfectfire
Bubble Banter Boss
Joined: Sun May 20, 2007 11:40 pm
Posts: 540
Location: Bellevue
|
Re: Riverstone Condos in Bellevue? Their sign has a new red sign attached to it touting their hot new bank pricing.
_________________
Remember, if you rent it's not a home, it's a hovel.
|
| Mon Jun 22, 2009 9:50 am |
|
|
|
lenticular
Bubble Watcher
Joined: Mon Jun 22, 2009 9:21 am
Posts: 6
|
Re: Riverstone Condos in Bellevue? Yes, they have slashed the prices dramatically. And I am under contract now for one of those units (made an offer 6/28).
I wonder if there are any other current Riverstone buyers here and how is your experience with the preferred lender. I was surprised to see mortgage insurance in my GFE. I am paying 25% down, and my research shows that according to Homeowners Protection Act of 1998 the lender can't charge mortgage insurance in this case. My lender says they have to charge it, because there is less then 50% of units currently sold, so it's considered a high risk loan. He keeps saying that they are currently reviewing this requirement, but they have not backed out yet. Please share your experience.
|
| Wed Jul 15, 2009 9:27 am |
|
|
|
hesotriflin
Bubble Watcher
Joined: Mon Feb 19, 2007 1:02 pm
Posts: 22
|
Re: Riverstone Condos in Bellevue? lenticular wrote: Yes, they have slashed the prices dramatically. And I am under contract now for one of those units (made an offer 6/28).
I wonder if there are any other current Riverstone buyers here and how is your experience with the preferred lender. I was surprised to see mortgage insurance in my GFE. I am paying 25% down, and my research shows that according to Homeowners Protection Act of 1998 the lender can't charge mortgage insurance in this case. My lender says they have to charge it, because there is less then 50% of units currently sold, so it's considered a high risk loan. He keeps saying that they are currently reviewing this requirement, but they have not backed out yet. Please share your experience. Hopefully you got it for 50% off their new listed prices. A friend bought a place there and I don't think they did much with the units besides new appliances, fresh paint, and granite countertops. When more than 2 appliances are on at the same time the electricity short circuits. Also I think there is a lien on the complex, not sure if it was ever resolved yet.
|
| Wed Jul 15, 2009 1:13 pm |
|
|
|
Puget Sounder
Bubble Blatherer
Joined: Sun Feb 18, 2007 7:30 pm
Posts: 83
|
Re: Riverstone Condos in Bellevue? I wonder how well the Taing clan of flippers likes how their investments at the Riverstone turned out. Can't be too much joy there.
|
| Wed Jul 22, 2009 3:09 pm |
|
|
|
lenticular
Bubble Watcher
Joined: Mon Jun 22, 2009 9:21 am
Posts: 6
|
Re: Riverstone Condos in Bellevue? hesotriflin wrote: Hopefully you got it for 50% off their new listed prices. A friend bought a place there and I don't think they did much with the units besides new appliances, fresh paint, and granite countertops. When more than 2 appliances are on at the same time the electricity short circuits. Also I think there is a lien on the complex, not sure if it was ever resolved yet. No, I got it for the full new asking price which was about 21% less then the price they wanted in May (before the complex got reposessed). Also an appraisal came in 9% above of what I am paying. I think it's a good deal. Can you describe the electricity problem in more details? I will have a chance to try it during a walkthrough. What kind of appliances? And what exactly happens: a breaker flips or one of the appliances shuts down? Also, what kind of "a lien on the complex"? I am aware of the lawsuits and judgements against RIverstone LLC, I don't think these become the liability of the HOA though.
|
| Thu Jul 30, 2009 2:41 pm |
|
|
|
perfectfire
Bubble Banter Boss
Joined: Sun May 20, 2007 11:40 pm
Posts: 540
Location: Bellevue
|
Re: Riverstone Condos in Bellevue? So they managed to sell 51 condos out of 98 so far. That's more than 50% after almost 3 years on the market! Yay!
But hold on, how many of those are flips or "investments"? Well, we already know of several that were bought as flips near the peak and then just today I saw one listed for rent on some internal company listing page. Also, one unit is owned by ASPI ENTERPRISES INC.
_________________
Remember, if you rent it's not a home, it's a hovel.
|
| Fri Jan 29, 2010 4:37 pm |
|
|
|
lenticular
Bubble Watcher
Joined: Mon Jun 22, 2009 9:21 am
Posts: 6
|
Re: Riverstone Condos in Bellevue? perfectfire: Well I know my unit is my primary residence. My neighbors are also owners. Living happily since August 2009. By the way, got a free ride not paying HOA dues until January 2010 (that's when the HOA was formed). So what's wrong with "ASPI ENTERPRISES INC" anyway?
|
| Fri Jan 29, 2010 4:53 pm |
|
|
|
