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Just Sold, 99% of Asking Price, 2716 Elliott Ave #402

Bellora Condos Unit #402 Just Sold
Seattle Condo Case Study

Just Sold | 99% of Asking Price
Bellora Condos | Unit #402
Sale Price $542,000

Situation | Objective
We are fortunate to work with AMAZING clients. This seller is a not just a great client but a close personal friend. We helped this client purchase the condo back in 2009 during the late stages of the Great Recession. At the time we negotiated a great deal.  The objective for the sale this time around was to get a good solid price in a reasonable amount of the time. The Seller and his beautiful wife purchased a home in Bellevue and needed to get 2716 Elliott Ave #402 (Bellora) off their books. The sale would not be simple as the tenant presented some interesting challenges around showing times making it difficult for us to get the normal amount of volume through the unit in the first few weeks.

Marketing and Sales Strategy
The marketing/sales process started with a very thoughtful approach to working with a tenant that was un-able to vacate early. Our team had to manage expectations around his preferred showing schedule and we needed to set some clear expectations regarding the condition of the unit. We deployed a professional photographer and put a major emphasis towards marketing the size of the unit and the quality of the building. We strategically targeted 2 bedroom buyers that were priced out of a very expensive and competitive Seattle condo market.

Result
We felt very satisfied with the results. Even with a number of hurdles we faced, we managed to sell the unit quickly (in less than a month) for 99% of what the seller was asking.  Every sale is different. Even though this transaction had an emotional connection our approach had to be direct, concise and effective. Mission accomplished.

Bellora Condos Lobby Bellora Unit #402 Bellora Condos #402 Living Room Bellora Condos Unit #402 Dining Bellora Condos Den Bellora Condos Views

Interested In Selling Your Condo?

SeattleCondoBroker.com was designed by Jeff Reynolds. It was built to display the un-paralleled Seattle condo service for buyers, sellers and condo enthusiasts. In partnership with UrbanCondoSpaces.com, we invite you explore past sales, current listings, market data, new projects reviews and more. Jeff and his team of Seattle condo experts are the premier real estate team in Seattle, Washington.

Jeff Reynolds

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Just Sold, 20% Above Downtown Seattle Average

Aspiri Continental Just Sold Small
Seattle Condo Case Study

Just Sold | 20% Above The Downtown Seattle Average
Continental Place | Unit #1401
Sale Price $420,000

Cost Per Square Foot $820
Downtown Average In March $681
New Construction Average (Insignia Towers) $719

Situation | Objective
Our team took on a very interesting challenge. We were given the task of selling a 512sf unit at Continental Place. The seller challenged us to get a higher than market price for the unit. This was especially difficult as the condo had seen very little updating over the years. We took on the challenge and in less than 60 days we found a buyer who was willing to purchase the unit at a premium. At $820psf, we raised the bar. The Downtown Seattle average was just $681psf last month.

Marketing and Sales Strategy
The custom marking plan deployed had to be near perfect. Whenever you list a property over market value you have to expect push back from the market. Understanding our clients objective, meant that we had to meet the market with a clear and concise message. We had to lean on market indicators that would help to “price in” what we felt the value of the condo was and the direction it was going. Buyer’s were going to reject our pricing model, so we had to meet those objections with a thoughtful perspective on pricing/offering. We used inventory, the strength of the building, the tenure of the door staff and a number of other key factors to justify an above market ask.

Result
We don’t mind tooting our own horn on this one. The numbers speak for themselves. Event though it took us nearly 60 days to sell the unit, we procured an offer that was $820psf. That is 20% higher than Downtown average last month. It was a huge success for our team, but more importantly for our seller!

Cost Per Square Foot $820
Downtown Average In March $681
New Construction Average (Insignia Towers) $719
Exterior04

Exterior07 Exterior10 Living05

Interested In Selling Your Condo?

SeattleCondoBroker.com was designed by Jeff Reynolds. It was built to display the un-paralleled Seattle condo service for buyers, sellers and condo enthusiasts. In partnership with UrbanCondoSpaces.com, we invite you explore past sales, current listings, market data, new projects reviews and more. Jeff and his team of Seattle condo experts are the premier real estate team in Seattle, Washington.

Jeff Reynolds

By

Mosler Lofts 2015 Year End Report

In an effort to keep everyone continually informed on the Seattle condo market we are rolling out annual reports for some of Seattle’s best condo buildings. You’ll find these reports both on www.UrbanCondoSpaces.com and www.SeattleCondoBroker.com.

If you live in a building that we haven’t covered, just ask. We would be happy to generate a report for you and your building.