Archive for the ‘Condominiums’ Category
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Feb
13
Posted by Kathleen Cragun
It has taken awhile but Bentley House is looking good and open to the public for tours. Located on the corner of Newport Way and Pine Cone Drive. Issaquah, WA 98027
The condominiums supports a luxurious life style. Would you like to have concierge service to park your car, a Theater, a Billiard’s Room, full Gymnasium, even a Spa with shower and steam?
That isn’t all. There is a Business Center and a place to store your boat or RV. Another exciting feature is the Roof Lanai.
As per Jon Skipworth, Bentley House is open for tours, week days until 7pm, weekends 10am to 2:30pm.
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Dec
28
Posted by Larry Cragun
I wanted to share my perspective on our real estate market as we come to an end of this second straight dreadful year.
To make sure I got it right, I consulted with our cat Portia, the cat economist. I receive a regular newsletter from a local bank’s loan officer. It has all sorts of statistics to review but always ends with a positive, the market is coming back assumption.
Now, I like positive attitudes, am often guilty of having one but I’m not so certain things are great. Actually, I’m certain they aren’t unless you are a buyer.
Here are some of my opinions. Unless we see a commercial mortgage crash, homes in our market have probably hit a bottom. The reason we could have a commercial crash is that even commercial values have dropped seriously. Investors are requiring a bigger cap rate which has lowered the value of commercial real estate. Most commercial loans are ARMs with due dates. When those due dates come and the values are down 25% or so the equity is often gone and the ability to obtain a new loan is gone. What the banks and government will do about this problem is yet to be seen. Needless to say, it’s a BIG problem. Real big.
Issaquah isn’t your cheapest market to buy a home in. People live here for many good reasons. So investor types and bargain hunters have been more active in other markets such as South King County.
Interest rates will probably continue to rise. If you closed a loan at 4.75% in December you will probably brag about it for years to come. I would say if you are interest rate driven, drive out and buy now as rates are likely to rise. Interest rates have been going up for 3 straight weeks and will continue to rise under 3 conditions. 1- If the stock market rises, 2- If the economy recovers and there is a fear of inflation, and 3- when not if the government stops printing money to be a buyer of fixed rate instruments. (#3 is the main reason rates have been so low)
Interesting to me is the Utah market. It was hotter than heck and has crashed hard. Our grandson was working with a bank in Utah liquidating about 200 million dollars in home inventory. That liquidation is basically complete. We have two children that placed offers on homes down there. The values are about 50% down from the previous owners purchase prices. It seems they got lucky, as spending several days down there looking at real estate tells me that from high end to starter homes the inventory is being snapped up.
So what will the future be, only Potia knows and unfortunatley, she speaks Cat.
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Dec
09
Posted by Kathleen Cragun
Starpoint is the next best thing in Issaquah to a high rise condo. It consists of 2 buildings at the corner of Park Ave, and 25th. On the commercial side it boasts Zeeks Pizza, Le Chic Pet, MK Ballet. Alices Beauty Salon, Luna’s Nails and coming soon a dentist office that is kid friendly. That is good because there are a lot of kids in the Highlands.
Starpoint is a choice place to live. Troubles from the developers financial troubles are at an end. Resident’s spirits are high and they especially enjoy the Christmas season. They have a progressive dinner for all residents and in the summer have events in the atrium.
Many residents decorate the halls for Christmas outside their doors, since they don’t have yards (and don’t have to take care of them) It feels very festive and bright.
Starpoint doesn’t have the usual Real Estate flyer posts out front, but there are a number of units for sale.
Starpoint may be the best kept secret in Issaquah for easy livin’. Some units have underground parking. Elevators mean you don’t have to lug stuff up any stairs.
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Aug
14
Posted by Kathleen Cragun
It looked like the Bentley House luxury condominium project was a goner. No work being done, sitting in a rather sad state without activity or hope. We thought the economic downturn had claimed it. But, WAIT, suddenly things sprang to life. Bentley House IS back. There are workers all over it and I have from a good source that it will be done in December. That is very good news. It was a favorite project of ours.
Bentley House, an unusual condo in Issaquah
As we find out more, we will keep you posted!
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Jun
12
Posted by Larry Cragun
NEW ISSAQUAH HIGHLANDS LISTING BY LARRY – SCOTT AND I ARE WORKING IT TOGETHER: CLICK HERE FOR COMPLETE INFO, WEBSITE, VIRTUAL TOUR
Yes, Issaquah homes for sale had some buyers in May. Closed homes that were listed for sale numbered 35. That isn’t in the 60’s we used to see but it sure beats the heck out of the 15 homes that sold in April.
The price ranges are as follows:
charts courtesy of Northwest Multiple List
Look at the statistics chart above and ask – do you want to sell your home in 0 to 7 days? If the answer is yes, price it under $300,000. The stats are bad news if you are in the $500,00 to $550,000 range as the days on market averaged 588 days.
How about condos, condominiums, or condo, condominium? The answer: 25 sold in May versus 11 condos sold in April. Again, we used to hit over 60, but this news would be settling if it continued.
We close tomorrow on a condo we had listed. The sellers were serious sellers. They priced their condominium to be the best deal of its size in Issaquah Highlands. The buyers were tough but our sellers were serious.
We did everything we could besides price to capture the interest of the buyers: this included planning ahead on wall colors, what new carpet to put in, what it needed in accessories, etc. Once we had an offer our sellers responded as a serious seller would. There a lot of homes for sale, lots of condominiums. If you have your home listed and not sold, speak to your REALTOR on what it takes to be competitive.
Here is the breakdown of the condos that sold in may:
Almost a third of the condos sold in Issaquah were in the $200,000 to $250,000 range. Days on market were pretty decent statistics: 58.
So how many homes and condominiums are currently listed for sale in Issaquah at this time? The answer is scarry: 357 homes with an average day on market of 112 and 222 condominiums are listed in the MLS with an average days on market of 96.
Truly, it is still a buyers market when it comes to Issaquah Real Estate.
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Apr
09
Posted by Kathleen Cragun
WOW, I don’t know how to choose, I want to do them all. April 11, 2009!
Taj ( Tiger) Birthday Party at the Cougar Mountain Zoo – 1:00pm
Taj is Two, Little No Longer!
Easter Egg Hunt at Issaquah Highlands – Village Green & Blakely Hall – 10am to Noon
Last years Easter Egg Hunt in Issaquah Highlands
Chocolate Eggs at Up Front Gallery on Main St. They go fast!
Chocolate Eggs at Up Front Gallery
2nd Saturday Open House Tour in Issaquah Highlands. Larry Cragun and Scott Gibbons of Plateau Real Estate, Connect Realty have a exceptional condo with an exceptional price on the tour at Timarron. NEW Listing. 1601 NE Katsura St #704, 1-4pm Open House!
- Timarron Open House
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Mar
18
Posted by Larry Cragun
Is your perspective on the mortgage process a little skewed?
This article was prompted by a neighborhood discussion on mortgages this weekend. We have great neighbors. Living in a condominium building here in Issaquah Highlands as we do offers us the social aspect easily attained when one of us posts a note on the elevator announcing a brunch or bring a treat event at their home.
Sunday was one of those nice days. Out of our St Paddy celebration I learned that some people have some incorrect information relating to banks and mortgage companies. I write this for you the reader and for my neighbors.
Banks and mortgage companies are similar in important areas. Knowing this information can help you make a good borrowing decision.
Both types of lenders rely on Fannie Mae or Freddie Mac for the bulk of the money they lend. Therefore, Freddie and Fannie set the rules both industries follow. They want the loan they originate to be sellable on this the secondary market. To you the borrower there is no difference.
Both banks and mortgage companies pay their originators a commission. I have worked for two major banks. The differences that caused me to go the mortgage broker route were important. Neither bank I worked for tried to be a rate leader. Both banks I worked for required me to use their underwriters and submit the loan to them. Even when we had relationships with other mortage banks such as Countrywide, we had to get permission to use them. We couldn’t go to the current rate leader as a reason. I left Mellon Bank over a dispute with an underwriter. She turned a loan down that I knew was a good loan. I went to my manager and asked to speak with the underwriter. My answer, “you know we don’t let loan officers talk to underwriters’. That was it for me. I pulled my 14 loans in process and went to work for a mortgage company and all 14 loans were approved. Being a mortage broker gave me more flexibility in interest rate, in special progams, and left me the loan originator able to do what was best for my borrowers.
Using Mellon as an example I can also show you a couple more points that are not commonly understood. Note, Mellon is no longer in our market, but had a Wholesale office in Bellevue as well as several Retail offices. This is common in the mortgage and lending world. In other words I had a retail price sheet and their mortgage brokers loan officers had a wholesale price sheet that was priced lower. They would then add their fees to the rate sheets and compete. We competed against each other using Mellons system. As long as I had the ability to compete on rate I could stay in business. That’s the way it is now in the market.
So, when you give Wells Fargo a call for a refinance, as did one of my neighbors, you are dealing with a loan officer that is on commission, has a price sheet to give quotes from, and is under the control of that bank. Out of the commission, which is driven by the rate they charge you (the higher the rate they can charge the more they and the bank make) they get a piece of the profit. They may get half, in my case at one bank I got 40% and at the second bank I got 70% of the profit of the file.
To think you go to your existing bank and get a deal may be very wrong. In my job history some days we were competitive and some days we were pricey.
So to follow the theme of this story, who is your loan officer? Why? Is that a good choice? Here are some things to consider: competition is good so don’t just pick up the phone and call your existing bank. You are likely to get sucker punched. Yes, banks want as much money as they can get – you do know that don’t you? Loan officers tend to be mini banks in mentality, they too want what they can get. I sugget you do what a good friend just did to me. He called me and said he wanted to do business with me. He had a friend at local bank X he had done business with but wanted to give me a shot. Well guess what? I made my margins thinner to get his business.
And PS: Pick someone who has something to lose by doing badly for you. The best way I have found to do that is to pick a real estate agent you trust and have that agent refer you to a loan officer they use. It may be a bank, it may be a mortgage broker. That loan officer is probably proven to not charge too high of an interest rate, to be able to finish what they start, and more importantly has much to lose in future business from that agent if he messes with you.
And thats my advice, may you have a good experience, you can call on me if you like – I will refer you to loan officers that work for our branch that are among the very best, and would be glad to answer your questions on line or by email even if you are working with someone else. You don’t have to use us to get our solid opinionated advice here. Larry
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Feb
12
Posted by Larry Cragun
I am holding our Starpoint Condo Listing open Saturday from 11AM to 2PM.. Come visit and see the reason we love Starpoint Condos. What can I say – secure building – Underground Parking – Quality – Lock n Leave. Just follow the instructions at the door to get in…. 1880 25th Ave NE # 207 Issaquah Highlands
Events
Second Saturday Home Tour “Sweetheart Deal”
This Valentine’s Day, Saturday, February 14, 1:00-4:00pm. Tours are available for nearly every for-sale home, new and resale, in the community. As a special nod to this day of romance, prospective buyers can pick up a long stemmed rose at every new construction and most resale open houses they visit. If you have a home for sale make sure to hold it open this Saturday and have your agent contact Judy Harris at the New Home Information Center for details! 206-701-0340 or jharris@portblakely.com
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Jan
31
Posted by Kathleen Cragun
Today Jan 31, Saturday, come and see the Open House of the Month. 10AM – 1PM
Starpont Condo, North Building
Starpoint is a very unique condominium complex in Issaquah Highlands. It is the first urban like condo in Issaquah. There are two buildings directly across from each other in the 2500 block of Park Drive, each with four floors, the first floor being retail and services. Starpoint is beautifully designed and executed and of course “green.” There is underground parking, elevator and a courtyard. A great deal of thought went into the room arrangements. Unusual taupe woodwork adds to the charm and class of Starpoint units.
This Starpoint condo is on the top floor, and is 1 bedroom, 1 bath, with soaking tub. Oversized windows look out to the courtyard below. It features 12′ ceilings, separate dining area, washer/dryer, ceiling fan, cozy fireplace, cat 5 wiring, 2″ wood blinds.
Starpoint is right next to Village Green and has the ability to have a “Lock and Leave” maintenance free lifestyle. This unit for sale is in the North Building, 1880 25th Ave NE # 412, Issaquah, WA 98029. It is priced at $295,000.
Larry Cragun welcomes you to visit. He will be there between 10am until 1pm. At the front door, push #207 from the numeric key pad. We will answer and at the tone the door will open for you. Then take the elevator to the 4th floor and go to unit 412. Unit 412 is on the east side of the building.
WELCOME!
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Jan
21
Posted by Larry Cragun
Everyone benefits from bright spots.
Our Undressed Network of Consumer Blogs extends beyond real estate and communities now.
With that being said, we have received several reports of people finding our agents and buying homes. This small sample of a network of almost 50 blog – websites now does not a market make but a turn around in pockets is what will happen first.
On the real estate front, some of the best news is in nearby Klahanie where Tanglewood Condominiums has had a surge of sales. They still have around 20 to close out. FHA financing, the price, and the value have a lot to do with this real estate purchase activity. The MCM Group, has been an advertiser and member of our blog network for several months now. They are the marketing and sales company for Tanglewood. We have been extremely impressed with their marketing skills. We should be actually, our first business with them is when they sold us our current condo in Issaquah Highlands. You should visit this property, you will be impressed. Here is the link to their website, click 
I might also refer you to another local blog, written by an MCM Group REALTOR and marketer Susan Moore. Her blog, Newcastle Undressed is a neighbor to Issaquah Undressed you might say. I think you will like it, if you are looking to buy closer to Bellevue, give her a call, you will love her. Here is the link – and enjoy the new dawn, our new hope, and the new market. I just might be brigher out there, and that is a good thing, even for the bottom feeders …Larry
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Dec
29
Posted by Larry Cragun
Condominiums in Issaquah are often the best choice for buyers. Currently there are 191 condos for sale in Issaquah. They range from 1 bedroom and 648 square feet to 3 bedroom and 1705 square feet. A new project the Bentley House is near bringing on 40 plus more in the luxury class.
The average list price for 2 bedrooms is $282,000 for 3 bedrooms is $373,000.
The average days on market of over 100 days makes it a buyers market.
We would point out two of our advertisers and one of our listings as unique and worth a visit:
Tanglewood Condominiums in Klahanie: We have been so impressed with this property. It is over 80% sold out and a must see. Click here for the Tanglewood website.
The Bentley House, click here for their blog: Truly a lifestyle with VIP treatment and amenities unmatched. This is an upper end property in price.
Starpoint Unit # 412: A 1 bedroom 1 bath treat in the secure and upscale Starpoint Condominiums. This is our listing and we would be glad to show it to you. Click here for its blog:
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Nov
08
Posted by Larry Cragun
Sponsored by Bentley House Undressed
and the $300,000 +- Value Leader: Tanglewood in Klahanie.
This is the second Saturday and homes not in the MLS are open – Second Saturday Issaquah Highlands Tour Of Homes
The map of open houses is updated and quite handy. Well over 1000 folks have logged into our map. There are quite a few homes open this weekend, condos too. Some of the homes for sale and open this weekend are new listings and some show serious price reductions. Click here for the map.
Also, the October real estate statistics are available. The entire MLS shows that there is a 10.6 month inventory of condominiums listed for sale in King County. That shows it is still a serious buyers market.Interestingly, Issaquah is bucking the trend with a 5.7 months inventory of condos. See the chart below, and note this is fluctuating. One reason for this is the number of condos listed dropped by 45 and the sales increased from 28 to 38. The number of condos listed is the lowest number in the last 15 months.
Don’t get too excited: It was the opposite statistic for homes for sale and sold in Issaquah. Inventory was up to a 13.2 supply compared with a county wide statistic of 9.7 months.
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Oct
25
Posted by Larry Cragun
I would say the open house volume is low. Why? Simple. Agents feel it is a waste of time as not many of you are looking now. Why? You say. Here are the mapped locations of those agents who placed their homes as open in the MLS. By The way – it is a great way to enjoy the fall weather and do a little dreaming. Click here or the photo to go to the map.
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Oct
03
Posted by Larry Cragun
Tanglewood In Klahanie is our opinion of the current best value in Issaquah Condominiums.
Issaquah is about to discover the Ultimate In Condo Living. You will see it announced in a booth at Salmon Days, you will see it advertised on this Issaquah blog, in fact – it will have it’s own undressed blog. Again I ask, take out your pen and paper – write down what it would have if it were your vision of the ultimate in condo living. Make a list and check back here often, it is going to be nice.
Click here for the Tanglewood Condos in Klahanie Website
Click here for an article Kathleen wrote after visiting Tanglewood Condos.
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