Ballard Homes - Afterthoughts become prime real estate

Sat, 08 Aug 2009 07:18:00 GMT

During the summer months of 2009, houses in Ballard have been selling at a median time of less than one month on the market. Considering the national and local numbers for inventory and marketing times of homes, this is a fairly extraordinary statistic. When a well-priced house comes on the market in Ballard, it sells.

There are three main factors working in Ballard's favor. The first is home pricing. North Seattle prices are fairly high in general, but many homes in Ballard are in the $300,000 range.  There were 13 homes under $350,000 sold in Ballard in the last two months, and there are another ten available right now on the NWMLS. These prices are right in the wheelhouse of a working couple in Seattle. They may be a bit high for a single buyer, but with two middle-class incomes, the $300k range is within reach.

Factor #2 is the proximity to downtown Seattle. Just 10-15 minutes from the downtown job core, Ballard commuters have ample options for bus transit and the less-used 15th Avenue corridor for car and bike commuting. Considering the price savings of 20%-50% compared to these other neighborhoods, Ballard is a relative bargain.

The third factor influencing purchases in Ballard is the lifestyle. Ballard could be the most eclectic, varied, and lively neighborhood in Seattle. Belltown has the neon lights, manicures, and fake 'n bake tans. Capitol Hill has the posh party lifestyle. The U District has rowdy college bars and clubs. Ballard has a bit of everything. From hipster bars to low-key fisherman's dives, there's never a "scene" in Ballard. Quiet enclaves have small, low-key restaurants. Industrial marine street-ends have "hole in the wall" bars. Popular attractions on Market and Ballard Ave draw the young, professional night life crowd.

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If a house is in foreclosure but not for sale how can I try to buy it before it goes to auction?

Wed, 11 Mar 2009 21:36:00 GMT

Who do I need to contact? Should I try to take over the existing loan? How much should I offer (more or less than the remaining loan balance)?

Any advice is much appreciated!

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Ballard Homes - Afterthoughts become prime real estate

If a house is in foreclosure but not for sale how can I try to buy it before it goes to auction?