Towne Pointe, the very nice (if someone traditional) condo project just a stones throw away from downtown Redmond, has either taken down almost all of their listings or have sold all of their remaining units (spare one) over the holidays. For posterity, and in case things change, I have captured a screen shot of Condo Compare’s listing for Towne Pointe units.
It is interesting that more and more agents are just completely pulling listings down. Relisting houses and condos is of course quite common (though annoying from the buyers perspective), and it will be interesting to see if Towne Pointe relist their units sometime soon, e.g. before the “spring rush”.
Of note, Towne Pointe has not sold any units since August 2nd (and I would really consider that a July sale), as can be seen in the King County Records for the complex. Simply checking the sold date on each unit shows they had a burst of sales between June and July and have had nothing since, a story that many real estate agents are becoming familiar with.
Note: Some portion of King County’s website is down right now (3:34PM Dec 31 2007)
My girlfriend Lila (who already has an excellent post about The Cleveland) and I went to visit The Cleveland in person today. It was late in the day, raining, and we had just finished up visiting another project. Still, we learned some valuable information and got to see the room layouts in person. I have to say that they look bigger in person than one imagines from the floor plans.
After coming back home, we again went over the numbers we had gathered about The Cleveland, looking for some more patterns or discrepancies. Comparing the price of identical floor plans on the resale market to that which the builder is selling, we found something that makes perfect sense but still made us quite peeved. The two prices are identical!
- Let us compare units 513 and 506, identical floor plans on opposite corners of The Cleveland. Looking at the sales history for unit #513 and the asking price for unit #506, we see that unit #513 sold for $394k in early July, and was then resold for $467k. The price the builder is asking for #506? $467k! Yet obviously anyone could have gone there back in July and bought it for around $394k.
Normally this would seem like common sense behavior, if you sell something for X, and the guy next store can sell it for X+1, you need to raise your price, you are selling too low. But this is not the situation with condos right now, instead I would argue that the $467 price was inflated by a bubble and that the original price should still hold true.
The lesson here is to always do your research and to be an informed buyer.
Not naming names here, because a ton of condos do this.
At least the unit posted above does not have white carpet in the dining room area. I have seen what happens to white carpets in dining rooms, and it is not good.
Also, any chance I can get some cabinets made in this century? Thanks!
One danger of looking around at condos is that one will inevitably lose their faith in humanity as they see stupid floor plan after stupid floor plan take up precious human living space. Even scarier is the knowledge that someone will buy these units, not knowing any better, and have their quality of life decreased by living in a poorly designed space.
The first such example I will post is from Trio. To be fair, Trio has a number of good floor plans, but the following is not one of them:
The first item that is noticeable about this 1×1 condo is the size of it: almost 870 sqft! When I first saw this, I was sure it would have a den or office somewhere in the floor plan. Unfortunately I was quite disappointed when I looked closer. What could have easily been a luxury 1 bed 1 bath unit has instead turned into yet another waste of space in Seattle. I admit that this floor plan might be perfect for someone with a large art collection they want to show off, but otherwise it seems to me that the huge entrance area is wasted. I have to keep asking myself: Who thought that a 1×1 condo needed a foyer?
As for fixing this mistake, I guess some portable walls could be put up to make something resembling a den. For a buyer who doesn’t care, it is always an option to have their computer, bills, papers, and office supplies be the first thing to greet visitors stepping into to their home, but for anyone else, a properly secluded home office or den is appreciated.
I also cannot understand that laundry room. How much dirty cloths can one or two people have?
Even sadder are the possibilities of what all that space could have been used for. Instead of the entrance being taken up for sheer nothingness, the bathroom could have been extended and possibly had a full 5 piece bath set installed. in the least, dual sinks or a large Jacuzzi style tub could have been put into place. The bathroom could be also be shifted down a bit and the large walk in closet enlarged. Making part of the laundry room into a nook is a potential use for it, but paying bills or writing blog entries is not going to be easy when sitting right next to a running washing machine or dryer.
Part of the units problems are due to lighting. Because there is no way to get light to the back of the unit it is not feasible to place a second bedroom anywhere. On the other hand a den or office does not require the same lighting that a bedroom does.