2-bd/1.5ba condos selling for $1 million (Seattle: real estate, rent, house)

[KonaldDuth]

Is there really that much of a demand to live in a decent condo in SLU/Belltown area? This is about the same price as a comparable unit in Trump Tower in NYC. I have trouble believing that there's not a real estate bubble here, specifically when it comes to condos. For $1 million you can buy an actual house in a nice neighborhood. No one is going to live in a 2-bdrm unit in a sketchy downtown area for 30 years ... so the only way that people moving into these can break even is if they sell it to someone else for a higher price. I think this is even more true for the small condos like the one I rent (537 sqft, ~350k). At some point Amazon stops hiring, or the whole tech bubble bursts, and you'll see these things selling for less than half their current price. Mark my words.

https://www.redfin.com/WA/Seattle/22....gyzdsnzqgu2dm

[Thom52]

have you actually driven in rush hour traffic trying to get into and out of that area?

It might be worth a million, just to be within walking distance of work there(assuming you never drive anywhere else), and the balance is the actual value of the condo.

Just sayin'

[Seacove]

Originally Posted by Thom52

have you actually driven in rush hour traffic trying to get into and out of that area?

It might be worth a million, just to be within walking distance of work there(assuming you never drive anywhere else), and the balance is the actual value of the condo.

Just sayin'

OP is always complaining about how expensive it is here and how they cannot afford it. Why stay then? Go someplace else they can afford. This particular condo has some pretty amazing views. It's been on the market for a while and the price has been reduced a couple of times. It will find a buyer at some point for the views alone. Who doesn't want to drink their coffee while watching ferries cross Puget Sound?

[Walch1007]

Originally Posted by KonaldDuth

Is there really that much of a demand to live in a decent condo in SLU/Belltown area? This is about the same price as a comparable unit in Trump Tower in NYC. I have trouble believing that there's not a real estate bubble here, specifically when it comes to condos. For $1 million you can buy an actual house in a nice neighborhood. No one is going to live in a 2-bdrm unit in a sketchy downtown area for 30 years ... so the only way that people moving into these can break even is if they sell it to someone else for a higher price. I think this is even more true for the small condos like the one I rent (537 sqft, ~350k). At some point Amazon stops hiring, or the whole tech bubble bursts, and you'll see these things selling for less than half their current price. Mark my words.

https://www.redfin.com/WA/Seattle/22....gyzdsnzqgu2dm

Why do you constantly spread mis-information?

https://www.cityrealty.com/nyc/midto...th-avenue/3531

Trump Tower 1 bedrooms start at $2M. Most are $2.5M+.

You can keep trying to call a bubble or just get in the market.