Howdy folks. Today I want to bring you a list of condos that have sold in under 15 days during the month of September 2011.  Now this list is only for King, Snohomish and Pierce county. There were 71 condos that flew off the shelves and into an escrow account. Most of these were in Seattle, but some were in Auburn, Bellevue, Bothell, Des Moines, Edmonds, Everett, Federal Way, Issaquah, Kent and Kirkland.

VIEW REPORT IN PDF HERE

Why am I bringing this up? To paint a picture that the market is rebounding? Hardly, if you know me you know I don’t think the market will rebound any time soon; not do I believe that it should. But that’s another story…

The reason I am pointing this out is because all too often I have a buyer who misses out on a property because they hesitate. Or worse they throw a low-ball offer at these condos and lose out. One thing I want you to take note of is how close to asking price these sold for. As you can see they, the vast majority of them sold above, at, or slightly below the asking price; which means there were most likely competing offers.

As you are hunting in the condo or single family home market, keep a good eye on prices. Ensure you are getting a list of new homes to hit the market in your criteria. Very often bank owned properties or sellers with lots of equity put their homes up for sale at very competitive prices; because they NEED to move and they aren’t going to waste time by marking the price up on their house. Not every seller makes this rookie mistake (but most do…sorry, but its true).

Be an expert on prices, get familiar with what you are willing to pay and for what kind of home; and when it hits the market, POUNCE on it! Even the worst housing markets in the country have these kinds of fire sales…

-Gilbert

P.S. VIEW ALL CONDOS LESS THAN 5 DAYS OLD HERE!

This condo belongs to a past client of mine. As it is a short sale, I had a Mukilteo short sale specialist / friend of mine list it. If you aren’t familiar with “Harbour Pointe Blvd”, its the best part of Mukilteo. “The Blvd” as its called is a residential loop, with great views in a very quiet neighborhood. Please check out this unit and make an offer! But if its not your thing, feel to view the other condos at “The Hamptons” or all condos in Mukilteo.

We're sorry, but we couldn't find MLS # 187622 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Howdy condo enthusiasts. Today we launched a new section of the website. Many customers have requested we provide an alphabetical list of all the most popular neighborhoods with condos and townhomes. We are now launching our “Neighborhoods” section of CondoBeacon.com. Feel free to browse neighborhoods by city. You are welcome!

http://condobeacon.com/condo-neighborhoods/

P.S. Visit our list of Seattle neighborhoods, our most requested compilation.

Large 2 bedroom, 2 bath Lake Washington Condo overlooking Juanita Beach. 1421 square feet. All white kitchen including Maytag stove with two ovens, dishwasher, microwave, and refrigerator. Large living room with a gas fireplace, and lots of windows overlooking the park, watch the space needle fireworks from your deck, walk Juanita Village with all it’s wonderful shops, and coffee houses. Unit comes with private garage and an additional parking space. Enjoy the pool or moor your boat at our docks that have water and electricity available. Unit is for sale by owner–give us a call and we can tell you more. 757-618-3193

Recently a friend of mine wrote a blog about the Altura townhomes in Bothell.  Personally, I don’t think that complex is a great buy or a great townhome community.  In fact, I am only writing this blog about the Altura townhomes to see if I can outrank her in google searches for that complex.

However I need to mention that the Altura townhomes are truly selling like hotcakes.  They have sold 9 townhomes (here is a report) there since Novermber of 2010, so it might be worth a look.   That is the most townhomes to sell in such a short period of time I have seen  in years.  Like I said, I’ve seen them and I’m not a big fan, but if you do like townhomes in Bothell, especially ones named Altura, please check these out:

(P.S. To view ALL condos and townhomes for sale in Bothell click HERE)

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

Hello open house enthusiasts.  There is a great condo at the Meridian condos in Seattle doing an open house this Thursday, Jan 27th, 2011 from 11am-4pm.  Refreshments, food and a raffle will be held.  Please stop by and see this great condo.  Here is a flyer with more information.  Take care!

We're sorry, but we couldn't find MLS # 138152 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Howdy folks. I’ve had a lot of calls and emails recently about the new condo complex in Gig Harbor. Of course I am talking about Hunt Highlands condos. If you are looking for a very some very nice and new 2 or 3 bed condos in the Gig Harbor area, please give these some consideration. They are well built and come with a host of upgrades. If you have any questions, don’t hesitate to contact us.

Showing properties 1 - 3 of 8. See more Gig Harbor - Hunt Highlands.
(all data current as of 2/22/2012)

1. $369,000 : 6479 Hunt Highlands Loop, Gig Harbor
   
   3 beds, 2 full baths

   Home size: 1,461 sq ft

   Year built: 2011

   Parking spots: 2

   Days on market: 87
   
2. $475,000 : 6407 Hunt Highlands Loop, Gig Harbor
   
   3 beds, 3 full baths

   Home size: 2,577 sq ft

   Year built: 2011

   Parking spots: 2

   Days on market: 355
   
3. $299,900 : 6427 Hunt Highlands Loop, Gig Harbor
   
   2 beds, 2 full baths

   Home size: 1,098 sq ft

   Year built: 2011

   Parking spots: 1

   Days on market: 403
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Howdy folks. I wanted to post some sales data for bank-owned/REO condos in Snohomish county. I have been receiving a lot more interest and traffic to this website regarding bank-owned condos then usual. Probably because prices are falling and banks are being more aggressive with their inventory.

Last night I viewed 3 REO condos at Walden Park in Everett (see my previous video tour of Walden Park) with my client and his family. They were in really good condition for bank-owned condos. The carpet needed to be replaced in all 3 of them, but other then that the walls, appliances, paint, cabinets and fixtures were in great condition from what I could tell. Of course an inspection is critical to uncover any hidden damage. View all Walden Park condos for sale.

When dealing with bank-owned condos my clients typically assume we can strong-arm the bank on its price.  That’s not usually the case.  It’s really HARD to say if the bank will negotiate. The recent sales statistics regarding bank-owned/REO condos in Snohomish county show that banks have seriously reduced their prices while others received more then their asking price, and yet the units sell, and typically sell in around 45 days.

My point is that I discourage REO condo consumers, at least here in Snohomish county from assuming negotiating will happen. It all depends on the banks finances and how much is currently owed on the property.

If you have any questions regarding bank-owned condos in Snohomish county, don’t hesitate to contact us.

View all 22 REO/Bank-owned condos that sold in November 2010 in Snohomish county

View all REO/Bank-owned condos currenty for sale in Washington

Gilbert

Hello Washington condo lovers! Today I want to go over the King County and Snohomish County REO/bank owned condo sold statistics. I have prepared reports showing us all the sold condos in each county for the month of September 2009 and 2010. The results were not all that surprising; prices have fallen and the number of bank owned condos sold increased. Let’s take a closer look…

September 2009 King county: We had 32 bank owned/reo condos sell in King County the entire month of September. The average sale price was $185,063. Also, the average sale price was 96.79% of the original asking price; meaning banks were dropping their prices an average of 4% from their asking price. The average days on the market were 108 days. VIEW REPORT

September 2010 King County: Let’s fast forward a year. Last month, there were a total of 46 King county bank owned/REO sales. The average sale prices were $158,840; a drop of $26,223 or roughly 14%. The average selling price was 95.35% of the original asking price, a 1.44% drop; meaning banks are negotiating a little more. The average time on market was 115 days, a 7 day increase. VIEW REPORT

Q. What does that all mean?

A. For King county, it means prices are dropping and the number of bank owned/reo homes is increasing. This is actually really good news, the market is purging itself of the bad investments and artificially high prices brought about by federal credit expansion. In other words prices should be dropping.

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September 2009 Snohomish county: We had 16 bank owned/reo condos sell in Snohomish County. The average sale price was $196,612. The average sale price compared to list price was 97.64%. The average days on market were 105 days. VIEW REPORT

September 2010 Snohomish County: Fast forward to 2010; the county saw 20 reo/bank owned condos sell for an average of $135,014. That is an increase of 4 sales and a drop of $61,598 or a whopping 31% drop in Snohomish County condo prices. Also the average sale prices vs. list prices was 96.06%; a small drop. And the average days on market were 116. VIEW REPORT

Q. What does that all mean?

A. Just like King county, Snohomish County experienced huge drops in prices, while the number of transactions increased. Most notably was the significant drop in 1 bedroom and 2 bedroom condo prices.

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As mentioned on this blog before, falling prices in the condo market should be expected and welcomed. There will be a leveling off of prices falling as soon as rental rates match the price of buying a condo, which is getting closer.

Please feel free to call or contact me with any questions. Take care!

VIEW BANK OWNED/REO CONDOS IN EVERY CITY IN WASHINGTON

I wanted to spend a few minutes giving praise to Freddie Mac and Fannie Mae. I know, that is the LAST thing some of my readers might expect. In case you are not familiar with my opinion of Fannie Mae and Freddie Mac; I find their existence an abomination to free markets and a root culprit of the current housing crisis.

That being said, my last two condo transaction with them have been quite pleasant. The listing agent was a jerk, but they and the escrow company they hired did a good job. Freddie Mac was speedy in their signing of documents, generous with their home warranty and price reductions (although it’s easy to be generous with money that isn’t yours. lol)

Although I’m sure no one at Freddie Mac or Fannie Mae will read this. If someone over there does happen to come across this blog, I do have two small suggestions that would have made things a lot easier on my buyer and with my buyers in the past.

1. You’re Being Cheap in the Wrong Areas: You need to pay for the resale certificate and or any applicable condo questionnaires; as it is customary for the seller to pay for those kinds of documents. Plus since you are the owner, you can typically get them for free from your HOA. My prospective buyer however, cannot. Those type of unforeseen fees can and often will kill a transaction. Especially if a buyer has already lost money on a previous inspection and HOA documents from another property. Your properties typically sell fast, so if you obtain those documents once, they can typically be used for a couple of months with multiple prospective buyers.

2. Hire Quality, Friendly, Win-Win Listing Agents: Lastly please train the listing agents you hire to not be total jackasses. All too often, they are rude, uncooperative, unresponsive, and basically shitheads.  Their attitudes often keeps buyers and their agents away; not good for your balance sheet. Just a thought.

However I will give credit where credit is due; I give you guys a B- overall for your performance as of late. Let’s hope it stays that way…

SEE ALL BANK OWNED/REO CONDOS FOR SALE IN WASHINGTON!