Capitol Hill Archives - Seattle Condo Broker

February 10, 2017 By Jeff Reynolds

Just Sold, Capitol Hill Condo, 4% Above Asking Price

Seattle Condo Case Study

Just Sold | 104% of Asking Price
705 E Republican St #505
Asking Price $375,000
Sales Price $390,000

Situation | Objective
Our team was contacted by the owner of this unit in early 2016. The owner followed our blog and had been impressed with the increase in sales activity in the Capitol Hill neighborhood throughout the year. The unit had been rented for years and this was the owner’s first opportunity to sell the Seattle condo in a market they felt comfortable with. We walked them through the process by reviewing our marketing plan, our analysis of value and our strategy moving forward. We picked a launch date an the rest was history.

Marketing and Sales Strategy
Every marketing strategy is different. It is very conditioned upon the neighborhood, the sales data, the unit condition, the timing and the enthusiasm of the seller after we make our recommendations.

We deployed a marketing strategy for this particular property that included staging, photography, video and a full scale marketing blitz. The key was that the listing would be going on the market in November. Listing and selling around the holiday season has its pros and cons. We felt comfortable given the market condition to proceed.

Result
We had a tremendous results with this particular sale. The unit sold in less than 2 days to a buyer that had lost out on multiple units in the past. They were inclined to write a GREAT offer immediately after we went on the market to convince our Seller that they should not wait for other competing offers. In doing so, they presented an offer that was 4% higher than our asking price with very little contingencies. This was a perfect result for our seller who was focused on selling to a qualified buyer with a strong certainty of closing.

Here was the review left by our client:

“I am delighted to have the opportunity to provide a recommendation for Jeff Reynolds. I have never given any person or business 5 stars for performance; but in this case it was justified. Jeff Reynolds is a consummate professional in every way. In 20 years of real estate transactions I have never had a sale go more smoothly. I contacted Jeff with a need to sell my apartment within 2 months -before the end of the year for tax reasons. He did not promise he could but said he was confident that he could -like I said, a professional. He actually sold it the first day it was on the market at above asking price. He handled every single detail so that I had zero stress with the sale. My husband and I could not be happier. -JAE”

We are thrilled to sell another Seattle condo for another amazing client. To learn more about what we do, contact us or check out our condo blog – UrbanCondoSpaces.com

April 11, 2016 By Jeff Reynolds

Just Sold, 11.5% Above Asking On Capitol Hill

Seattle Condo Case Study

Just Sold | 11.5% Above Asking
Brix Condominiums | Unit #114
Asking Price $459,000
Sale Price $512,000

Situation | Objective
We were thrilled to have another opportunity to work with one of our best clients. She called our team in December with a goal of being on the market in the spring. Our recommendation was to watch the monthly sales in her neighborhood (Capitol Hill) and we would look for an opportunity in terms of timing when we felt the sales velocity driven by lower inventory was moving up. Fortunately we had a neighboring unit hit the market just a week before our launch day. It was mirror image of our unit and we would benefit by seeing how the market reacted.

Marketing and Sales Strategy
When the neighboring unit hit the market we had to be sure that our strategy was sound and that we would to do everything we could to drive traffic to our listing once the competing unit went pending. With the permission of the broker on the neighboring unit, my team called each and every buyer/broker that wasn’t successful in purchasing #unit 113 (neighboring unit). They had multiple offers and we we expected the same with our unit. 1 bedrooms in good buildings on Capitol Hill sell quickly. In fact, last month the average sale on Capitol Hill sold for 7% more than the asking price.

The custom marking plan deployed for this project was thoughtful and deliberate. Our staging was contemporary furniture that fit the space perfectly and allowed plenty of foot traffic through the unit at the same time. We had the 814sf loft space professionally photographed and we strategy placed marketing material in a number of different areas in and around the unit. This included laminated maps and routes for the new link light rail that can be accessed from the unit by simply walking 3-4 blocks. We deployed our custom social media campaign and had a tremendous response from the market.

Result
Our marketing received a lot of positive feedback and the response from the market was incredible. We had 30-40 showings in 6 days. We sold the property for nearly 12% more then the asking price. This was 5% higher than the current average on Capitol Hill. In less than 30 days, we were listed, received multiple bids and sold at $512,000 (asking price was $459,000).

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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.

October 1, 2015 By Jeff Reynolds

Sold, 714 Bellevue Ave Unit #101

Seattle Condo Case Study

Building | Address

714 Bellevue Ave – Unit #101
714 Bellevue Ave #101
Seattle, Wa 98102

Situation

We were tasked with finding a great home/condo in the $750,000-$1,000,000 price point for a new client sent to us by the owner of our company. The goal was to identify a good quality 3 bedroom unit for the client to purchase in a 90-120 day window. They would re-locate out of a South Lake Union apartment.

Strategies & Tactics

3 bedroom condos are not as common as one might think. In fact, unless it is a penthouse, most 3 bedroom units are found in older and often less desirable buildings. We sifted through our database of condos, went through traditional routes of exploring 0n-market property and eventually shifted gears towards finding a great “off-market” opportunity. Our team often pre-viewed listings to make good use of our clients time. We caught word of 714 Bellevue Ave #101 hitting the market. Ironically, at that time we were helping a past client lease their unit next door (714 Bellevue Ave #102).

Result

Once the property was identified, we moved quickly. We avoided a multi-offer situation by offering full price and a significant amount of down-payment funds which were attractive to the seller.

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