You win the Mega Millions. What house do you buy?

Let’s have a little fun on a Friday afternoon. Let’s say you play the big Mega Millions lottery everyone won’t stop talking about, and against all odds, you’re the sole winner tonight. What house (or houses) currently on the market would you buy? It doesn’t have to be in the Seattle area, if you’re only […]

Friday Flashback: Olive 8: “We’re going to wait this out.”

Today’s flashback comes from… just over a year ago. July 2009: Photo by Flickr user paperjam At Olive 8 in downtown Seattle, county records indicate only 28 of 229 units have closed. But David Thyer, president of developer R.C. Hedreen, said his firm has no plans to cut prices. “We’re not inclined to discount the […]

A Ceiling for Seattle-Area Long-Term Appreciation Rates

photo source: Public Records(Look familiar?) The Puget Sound Business Journal and the Seattle Times both spent some print this weekend on the tale of a mega-mansion on Mercer Island (1631 Roanoke Way, 98040) that sold last month for $12 million. Of course, the angle of most of the local press I saw on the sale […]

Tacoma Luxury Condo Project Headed for Foreclosure

Regular readers may recall this post from last October: Construction Defaults Over 10%, Tacoma Condos Empty. Tacoma News Tribune: Downtown condo sales at a crawl How’s the market for condominiums in downtown Tacoma? “What market?” says Judy Mayfield, head of sales for The Esplanade, the 162-unit project on the Foss Waterway, now nearing completion. After […]

Construction Defaults Over 10%, Tacoma Condos Empty

A few more articles from this week about how dramatically the local real estate market has slowed. Puget Sound Business Journal: Construction defaults rise in Seattle area The latest data on local new-home sales and construction-loan delinquencies illustrate the market forces underlying the growth in mechanics’ lien filings. Delinquencies of single-family construction loans in the […]

Raising Prices to Entice Buyers—wait, what?

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. Yes, […]