There are some amazing small spaces in Seattle for decent prices. They are probably overpriced now in today’s market but I am sure 3 years ago, the sellers would have previously sold them in a day and possibly got multiple offers. That’s why a few months ago I was surprised to see a closed sale for $100,000 on a 354 square foot studio.
I saw this nice studio condo listed at $159,000 and it is only 333 square feet. I can’t imagine there being any demand for such a small place. That comes out to $480 square foot which is at a premium in that area. The area itself is great. It is in the Belltown area of Seattle right by Olympic Park. If you click on the link, then you can see my personal pictures of the area. I think it is a wonderful place to walk and hang out.
Here is the listing from Redfin that has pictures of the actual unit. I think if I were single I could easily live in a place like this full time. I am married and the best thing this place could be for us is a vacation home. I just don’t think I can justify the costs for the time we would be spending there. You could easily live in a rental for much less and wouldn’t have a 15 or 30 year commitment. Better yet, we could just get a cheap rental for 2 weeks from priceline, which is what we did on our previous trips there.
Still, I like the idea of owning a place in Seattle and maybe the prices will go down that will justify it. This particular unit I am talking about has been listed on redfin for 167 days and has a cumulative of 472 days. That means to me, the seller has been trying to get rid of this place for about a year and a half.
On a different unit that was under closed listings, it shows a Bellora 356 square foot studio closed for $75,000. That seems impossible to me because this is a very nice building and the other units all sell in the $200,000 range. My guess is this is just someone letting the bank take back the loan or it is now a bank REO.
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