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Thursday, August 6, 2009

OMG! Unobstructed views of the Willamette!

Only $363 a square foot! Imagine the inspiration when the sewage is running. And now, for your convenience, a "foreclosure group"! Maybe next time, it can be you!

Ya gotta love these people.

Comments (8)

Ask 'em what the association dues are per month. Oh, and how much is parking again?

and one has a view of the "petty grove". nice.

The condo crash is only just beginning.

Someone once said that the fun in Saginaw was going down to river to watch the turd races. Apparently they've moved to Portland!

So, the Foreclosure Group offers "100% financing"? ("for qualified buyers!")

I still think that any funds distributed to a seller are potentially recoverable if a so-called professional appraisal violates 18 USC 1014. It relates to the collateral, quite independent of the credit characteristics of a borrower.

"100% Financing" with condo sales often relates to the developer's construction lender offering a mortgage directly to a buyer, thereby repaying a portion of the seller's construction loan. It's pretty clever, but easy financing to buyers is part of what caused the whole real estate crash to begin with.

These are not really new.

The wife and I took a look at these properties last summer when prices were considerably higher. The penthouses indeed do have very nice views, but they are not directly on the river. These are west of Front Ave/Naito Pkwy and south of Market. There is quite a bit of land before you get to the river - parking lots, bldgs, more condos, restaurants, greenway, etc.

Other than the view, think basic concrete bunkers with cosmetic coverings; HVAC additions on the deck. These properties were built long ago.

I, too, got a kick out of the reference to a "view of Petty Grove Park." They're so desperate they're touting a view of an NONEXISTENT park. Don't these Seattleites run their copy by the locals before sending it to the printers?

And what's a "short sale?" Sounds like a menswear thang.

Did anyone else catch the news story about the 100 sf boxes being marketed in Seattle at $450/mo.?

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