Because city center Seattle is becoming more and more popular as a place to live and because the new condos and apartments (as well as many of the old ones) are teeny tiny (1,000 square feet is considered pretty huge), our units have been and are still the hot ticket item in town. The smallest condo in this building is 1,100 sq feet and the largest is 1,500. And the building had 108 units and is well run and maintained and in the center of 'the action'. Prices creeped up for a while and then started skyrocketing. A 1,166 square foot unit on the 2nd floor with a view of an office building, accepted an offer of $650,000 last night. (The owner is a whacko and she's had wild offers before that have not panned out so this is far from a done deal.)
When people pay these kind of prices for places like these, they have expectations. They expect to get what they want when they want it and they don't care how much it costs. What this means to us here is that the new people will be making more and more demands for amenities that are going to cost us all. The new people don't care about the costs and while some may positively influence the value, some may not. Wise and smart management is going to make the difference.
Personally, I never did buy my unit with a plan of selling it. That will be my brother's job (or his son's) after I'm dead. So I'm not concerned with long term implications and I can afford extra homeowner association costs so I'm not going to worry about it all. Just more watch with interest.
I did find out a couple of very interesting things. My parking spot is in a small area that also houses the parking for the retail unit that just sold. Sherry, who also parks there, told me that yesterday there was a "really really huge, ugly, red Tesla" in the new people's spot. She said it looked like an SUV. Tesla does not make that many models and none look like an SUV. So... hmmmm. I think I may have to go down there mid day today to check it out. There will be photos.
And, Tija was also at the meeting. Tija lives here and owns the gym across the street and is really active in the neighborhood organizations. I asked her if she'd heard anything about a gym/pool in either the hotel or the office building going up in the new buildings next to the train station.
She told me that they had initially asked her about managing a gym with a pool there and she was all 'hell yeah!' but then they've gone crickets recently. But, she says, she knows a guy connected with the new buildings and he will know and she will ask so ... yeah. Quadruple YEAH if Tija will be managing a gym with a pool there. That would be so amazingly wonderful.
All of my tech feeds and podcasts are all apple and nothing but apple. I have less than zero interest in any of it. In a few weeks, when Google announces their Christmas goodies, I'll tune in but nyet to iPhone for moi.
I've got nothing big going on today that I know about now. I think I'll go make some more crumb blocks. My basket of scraps is still too full.