6746 14th Ave NW Unit B

Sunday, August 1, 2010 3:30 PM – 5:30 PM
This very orange townhouse in Ballard is listed at $349,950. Despite being built and sold in 2007 (for $30K more), they claim it’s “better than new.” Is there such a thing as an old house that’s better than a new house? I was having this discussion with a friend the other day, and I think there actually is. There’s always something wrong with a new place – the first buyer is the guinea pig who ends up having to fix everything that appeared to work on a blueprint but doesn’t work in real life. I’d say three years is a decent amount of time for a place to be tested and fixed without being worn down and out of date.

432 17th Ave E Unit B3

Sunday, August 1, 2010 1:00 PM – 4:00 PM
This 1913 mansion in Capitol Hill has been converted into three condos – one of which is on the market for $450,000. It’s got two bedrooms and 903 square feet. It’s also got some things you’ll never find in new construction – a wood-buring fireplace and a front porch. When you get too old for the nightlife scene, you could put a rocking chair on it and tell the damn kids to stay off your lawn! Hell, do it now. It’s cheaper than therapy.

2312 44 Ave SW Unit A

Saturday, July 31 and Sunday, August 1, 1:00 PM – 4:00 PM
New West Seattle townhouses! Fresh out of the oven! The architect is not listed, and they are in no way environmentally friendly. But hey, they’ve got “sophisticated tiled baths,” so how could you go wrong?

4343 Roosevelt Way NE #407

Saturday, July 31, 2010 12:00 PM – 2:00 PM
This one-bedroom unit in the University District is a “fantastic opportunity for an investor or owner.” Seriously? You think there are still people out there investing in real estate? This guy must be a looney. He (I’m assuming this is a dude) also says that it “appears much larger than the published sq ft.” It’s larger on the inside than the outside! It’s Time Lord technology! No wonder it’s such a great investment! You could have your very own TARDIS* for just $288,000.

*TARDIS does not transcend space or time, but it is FHA approved!

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It was a bad first-time buying experience all around … with the discount brokerage, with the lender, with the listing agent, and with the REO owner. Ultimately the purchase was doomed by a high HOA dues delinquency rate due to which it didn’t qualify as a loan that Fannie Mae would purchase from the lender, making the loan too risky for the lender to fund I suppose … even with my good credit and 25% down. Interestingly, Fannie Mae also happens to be the REO owner of the condo! I don’t quite know what to make of that, it seems strange yet at the same time in a way makes perfect sense too …

For the record, apparently the deal could’ve been saved if I had tried other lenders instead of triggering the financing contingency. At that point though, I figured with the HOA in that kind of shape and me not comfortable with the people involved, it was best to walk.

We’d love to hear from other people who have recently looked at the Lumen. Did you run into high HOA dues delinquency rates too?

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It’s not very often that we see a Capitol Hill condo sell for less than $300K, but this two-bedroom unit just sold for $287,000. It’s only 876 square feet, so the two bedrooms must be tiny. It’s a second floor unit, so it has units above and below, and it was built in 1980.

This very similar second-story two-bedroom unit just sold for $357,500. Love those windows! This one is in the U District, and it’s a little roomier at 1,035 square feet. Much older, though – built in 1930.


This top floor one-bedroom unit sold last week for $257,500. Queen Anne High School Condos is one of my favorites in Seattle. Beautiful solid construction and high ceilings. I bet the view from this unit is spectacular.


One of the gorgeous first-floor loft units at Veer sold last week for $380,000. I’ve toured these and they are beautiful. I especially like the dramatic concrete and steel staircases. My only objection was that the wall of windows looks out onto the sidewalk, so you’ve got to either live in public or keep the drapes down constantly.

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Actually, this listing at the Royal Crest has a beautiful pool and caught my eye too. Similar size as this unit at the Nord but only $200k, granted there is no exposed brick….

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