August 24th, 2010
WASHINGTON – Rates on fixed-rate home mortgages dropped this week, according to Freddie Mac’s weekly survey – of conforming mortgage rates the ninth week in a row that fixed-rate mortgages have met or set a record low, according to Freddie Mac’s deputy chief economist.
The 30-year fixed-rate mortgage averaged 4.42% for the week ended Aug. 19, the lowest since Freddie started tracking the rate in 1971.
The 30-year mortgage averaged 4.44% last week and 5.12% a year ago, according to the survey.
Fifteen-year fixed-rate mortgages averaged 3.9% this week, down from 3.92% last week and 4.56% a year ago. This week’s average is also the lowest since Freddie began tracking it in 1991.
Tags: mortgage rates interest rates
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August 15th, 2010
The Olive 8 Sales Team is proud to announce that we will have 34 homes auctioned in September. The auctioned homes will be on our lower floors 18 through 26.
The sales office will remain open onsite and continue to sell floors 27 through 39 our “Sky Suites.” Now is a great time to buy a view home in Seattle’s tallest and most luxurious tower. The sales office is open daily from noon to 5 p.m.
The Sales Team
Tags: auction, auction at olive 8, olive 8, olive 8 auction, seattle auction, seattle homes, seattle properties
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June 23rd, 2010
May 2010 housing unit sales were up 19.8 percent over May 2009 for the second best report of 2010. The average price of homes sold was up 6.9 percent and, while not as strong as April 2010, continued the 9 month trend of stronger sales and rising prices.Unit sales were up in all four regions of the country. The Northeast again led the surge with a 27.8 percent increase in units sold in May 2010 over May 2009. The West had the lowest increase in units closed at a 14.4 percent improvement over May 2009.
Prices were up in every region. The West region had the largest increase in average prices of homes sold at 11.6 percent over May 2009 while the Northeast was up 7.8 percent. The region with the weakest price increase was the South with an increase of 2.3 percent in average sales price comparing May 2010 with May 2009.
The increase in housing sales is the 9th month in a row where housing sales for the present month were above the same month from the prior year. And price increases just hit their 6th month in a row on the same basis. We expect housing sales for the year to be above the level of 2009 in the range of 4-7 percent even with somewhat of a decline in this year’s second half. Home prices will continue to strengthen for at least the next three months but may level out thereafter. The upper end of most housing markets remains soft at this time with no apparent recovery at this time.
Published by Michael Waggoner – Principle Managing Broker – Coldwell Banker Bain
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June 23rd, 2010
Did you know Olive 8 uses Blue sky Cleaners for its dry-cleaning. Our residents feel better knowing they are not contaminating the environment. At Olive 8 our residents are committed to improving our quality of life while lowering our carbon footprint.
No chemical residue
No chemical odor
No pollution
No contamination
No toxic waste
Superior results, cleaner clothes
Clothes last longer
Certified by Bay Area Green Business Program
Superior Customer Service
FREE Pickup and Delivery
Check out http://www.blueskycleaners.com/ to learn more.
Tags: blue sky cleaners, chemical free cleaners, cleaners, condos in seattle, seattle, seattle condos, seattle dry cleaning, seattle homes, seattle washington
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June 11th, 2010
Coldwell Banker recently conducted a broker survey regarding pending home sales and the current challenges with meeting the June 30 closing deadline for the Federal Homebuyer Tax Credit for some portion of those home sale transactions.
Survey responses were extremely valuable in helping quantify what previously only had been anecdotal evidence regarding the challenges to closing on the large volume of open transactions currently in the pipeline by the June 30 tax credit deadline.
The collective broker feedback strongly indicates that a grace period of an additional 30 to 60 days beyond the June 30 closing deadline would be helpful for many homebuyers to bring their transactions to completion.
We believe this would enable the full impact of the Homebuyer Tax Credit program to be realized in the economy without penalizing homebuyers and sellers for delays in closing that are beyond their control.
We are working hard to make the case for a closing extension on Capitol Hill.
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June 8th, 2010
- The Coldwell Banker Buyer Bonus Event is allowing Olive 8 to “essentially” extend the federal credit for participating homebuyers.
- The Coldwell Banker Buyer Bonus Event has fewer restrictions than the federal program had regarding closing of sale deadlines.
- The goal of this national “Buyer Bonus Event” is to help sellers improve the chances that their property will sell more quickly during a particularly challenging time for the marketplace – and to help incentivize buyers that missed the tax credit deadline by allowing them to still reap the financial benefits the tax credit would have provided.
- As a real estate leader that has helped Americans buy and sell homes for over a century, Coldwell Banker is committed to helping move the market in the right direction.
- Contact the Olive 8 site sales office for details.
Buyer Bonus Video
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June 6th, 2010
Have you heard the wonderful news? Olive 8 received renewal of their Final Project Approval from FNMA via the PERS approval process, the most comprehensive approval issued by FNMA. You can find the approval on Fannie’s website at https://www.efanniemae.com/syndicated/documents/dps/condopud/WA.pdf. This approval provides conventional financing opportunities for buyers to purchase homes at Olive 8. It also provides refinancing opportunities for homeowners who have existing Fannie Mae owned or securitized mortgage loans. Great news for Olive 8, potential buyers, and current homeowners!
posted by Terri Gatts Dayton, preferred lender of Olive 8
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June 4th, 2010
KIRKLAND, Wash. (June 4, 2010) – Home sales during May tapered off around Washington state following a surge of activity in April as buyers hustled to meet deadlines for tax credits.Northwest Multiple Listing Service brokers reported 5,242 pending sales (mutually accepted offers) last month and year-to-date figures show 2010 sales are well ahead of 2009.
Through five months, NWMLS members in 21 counties have notched 35,398 pending sales, outpacing the same period a year ago by 6,707 transactions for an increase of more than 23 percent.
Leading up to its expiration, the tax credit caused a surge of home sales, but a surge can only be sustained for so long. “What we’re seeing now is a natural adjustment, as consumer confidence continues to improve in the coming months; we expect to see the buyer pool replenish itself which should be followed by an increase in home sales.
Prices for home sales that closed last month declined about 3.6 percent compared to a year ago, but increased 3.4 percent from April. The area-wide median price was $269,950, down from twelve months ago when the median price was $280,000. Despite the overall dip in prices, ten of the 21 counties served by Northwest MLS had year-over-year price gains.
The volume of closed sales rose 27.3 percent from a year ago, rising from 4,154 completed transactions to 5,290 closings.
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May 25th, 2010
Walkscore.com gives Olive 8 a perfect score for being what they deem a “walker’s paradise.” This means that Olive 8 residents really do live where they play, as they are within walking distance of mass transit, grocery, restaurants, coffee shops, bars, entertainment, parks, the library, retail, the list goes on.
So what are you waiting for? Stop commuting and start living downtown.
Leave your car parked at home (which benefits your pocketbook, the environment and your health) and walk to catch a movie at Pacific Place or stage performance at the Paramount, enjoy a gallery opening, grab a late bite or drink at one of the many restaurants or bars downtown, or simply run errands.
Beyond these perks, living in a walkable location makes your home worth more. A recent study by CEOs for Cities found that one point of Walk Score can be worth as much as $3,000.
Urban, vibrant and rich with amenities, Olive 8 offers beautiful views, unparalleled convenience and palpable luxury. Residents don’t even have to leave the building to play. The 18th floor is an extension of your home with over 5,000 sq. ft. of additional space to entertain. The club lounge offers two large seating areas, a pet run, chefs kitchen, billiards room, four large outdoor gas grills and several outdoor seating areas.
The spacious outdoor deck off the 18th floor owner's lounge.
Tags: downtown living, olive 8, seattle condos, Walk Score
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May 18th, 2010
Ask for a restaurant recommendation from anyone living at Olive 8 or staying at the Hyatt and the answer will be Urbane — not just because it is conveniently located in the lobby of Hyatt at Olive 8, but because of it’s menu full of delicious local fare. But since we need to venture out eventually…
If you find yourself hungry while urban hiking in downtown Seattle and you want something satisfying for a good price, you can’t beat Von’s RoastHouse at the corner of 6th and Pine. Von’s is a Seattle staple and a great neighborhood spot to meet people or hang out after a long day. They have one of the best happy hours in town, with half-price appetizers daily from 5-6pm.
For those looking for a cocktail, this is the spot for a cheap buzz. How can you beat a martini for under 5 bucks during happy hour? Well, they outdo themselves: every half hour, they spin the wheel and offer up something from the bar for as little as $2.50 — all day! $2.50 Red Stripe. $4 lemon drop. Oh the possibilities!
Want to scope out the menu beforehand? Check it out here. You can also read reviews about Von’s on Yelp.
Image courtesy of Von's Facebook page.
Tags: Hyatt at Olive 8, olive 8, Seattle restaurant, Urbane, Von's
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