Why have market condition improved for new townhomes in great urban locations?

I am seeing more and more buyers coming out to open houses to take advantage of the Bank owned or FDIC pricing in great locations.
  • August 26 2010 - Capitol Hill
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Answers (4)

Best Answer

I generally don't see bank-owned properties having open houses, although of course it does happen.  There aren't a ton of new construction townhomes being built right now, so what few there are may go quickly if they are priced right.  I can think of a few developments in the Capitol Hill area that came on too high and sat empty for quite a while.  Prices have been adjusted, and buyers are reconsidering some of them. 

Clearly, interest rates are really driving the market right now.  Although I agree with Rob; August has been very slow in Seattle.  I think everyone is taking their summer vacation now and am hopeful September will bring renewed interest in buying.

  • August 27 2010
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In our area, there is not a large inventory of townhomes with current ammenities so they a bit easier to sell here.  The market is flooded with dates condos/townhomes which are much harder to sell and we are seeing prices continuing to decline.
  • September 04 2010
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Urban townhomes have 2 benefits to home buyers.  Many people want or can afford to commute into the city from the outskirts  and townhome are more affordable than single family homes. And the fact that they are new, make them appealing as well.

  • September 03 2010
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I can't say that we have seen the same bump in activity here in Seattle.  We typically see one after Labor Day.  It has been a slow summer activity wise.  There will be a lot more inventory coming on the market after Labor Day.  Lets hope the buyers follow.
  • August 26 2010
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