Posts in Editorial
As Featured in GeekWire: KODA Condominiums beacons an urban renaissance in Seattle's historic International District

At 11am on Saturday, February 24, the doors will open at the New Developments Preview Center at 2715 1st Avenue for the release of 200+ new homes at KODA – an inspired, high-rise condominium set to break ground at 5th Avenue and South Main Street this summer with occupancy by mid-2020. It’s not only the first new construction, for-sale opportunity in the International District in recent memory – it’s among the only new condominiums available anywhere at a time of meteoric demand but anemic supply.

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Seattle's New Era of Condos

As a recent Realogics Sotheby’s International Realty feature entitled “Seattle’s New Era of Condos” proclaims, the Emerald City is definitively in the midst of a condo comeback; the population is growing, residents are fueling additional in-city attractions, and millennials are transitioning from renting to homeownership. Today, thousands are reading the latest Seattle trends, as the special feature, which was originally included in Portrait of Seattle Magazine, was hand delivered to 1,500 broker mailboxes throughout the Seattle area, and was included in select copies of Puget Sound Business JournalWall Street JournalMadison Park TimesCapitol Hill TimesQueen Anne & Magnolia Times, Magnolia News, City Living Seattle, The Monroe Monitor, Valley News, Eatonville Dispatch and Marketplace.

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As Featured in Seattle Magazine: The Condo Conundrum

Seattle is the fastest-growing large city in the US with home prices rising more than any other metro area in the nation. That means developers are building new condominiums at a record clip, right?  Nope, it’s actually the opposite. There is currently a real shortage of in-city condominiums, resulting in high median home prices, rising by 19-percent year-over-year in November 2017 to $660,000 – about the same value as the median home price in King County. And 94-percent of the projected 27,000 new housing units to be built in downtown Seattle this decade will be for rent and not for sale, leaving many to scratch their heads. This topic was recently explored by The Seattle Times and King 5 TV News as prospective buyers have literally camped out overnight to book their opportunity to own. So, what gives? Here are ten reasons why consumers consider condos, but most developers don’t.

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Downtown Seattle Condos: Rising Demand and Anemic Supply Has Buyers Considering Presales Opportunities

The lack of available condominiums in downtown Seattle continues, especially at affordable price points. Currently, there are just 7 resale homes listed for sale on the NWMLS priced below $700,000, which is now the new median home price for resales after increasing a staggering 19% in November 2017 compared to the prior year. Though market conditions may seem daunting to potential buyers, market pundits say unit reservations and presales can offer much needed relief for those willing to plan ahead.

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Transportation Initiatives in Puget Sound

In 1907, when Seattle annexed Ballard, Ravenna and West Seattle, transportation meant nothing more than sailing routes, roads, bridges and sometimes cow paths. Today, transportation networks are technological systems whose scopes range from international airport instruments to GPS-enabled devices on your dashboard or in your pocket. New applications are transforming every mode and aspect of transportation, integrating it ever more closely with our daily activities. Meanwhile, governments struggle to keep the public infrastructure aligned with this all-encompassing transformation.

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Report Lists Seattle as #1 City for Chinese Homebuyers

Ni Hao, Seattle! We’re number one in the eyes of mainland Chinese homebuyers exploring overseas investment in real estate. That’s according to Juwai.com, a popular home search site within China, and this finding is tracking with other data points according to local brokers that specialize in international homebuyers.

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FutureCast Forum Members & RSIR Brokers Attend BISNOW's Multifamily Panel

As our city skyline is scattered with cranes, BISNOW hosted nearly 200 registered members to discuss Seattle’s multifamily climate; specifically, its affordability, sustainability, and community design. Held at the Westin Seattle, three panels spanned a variety of topics, all relevant as the city experiences unprecedented population growth, construction costs, and housing demand.

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