Seattle Condos For Sale

Conner's Junction site is for sale, pushing construction back at least a year

It seemed inevitable that shovels would break ground soon. Charlie Conner’s seven-story mixed-use, 198 apartment complex had received the City’s blessing to move forward and a “public benefit package” had been worked into the design in hopes of appeasing a West Seattle community that had made its weariness of the project clear.

Then, in early August of 2011, current tenants of the southeast corner of the Alaska Junction received a letter from Conner stating the property was headed for the market, creating a delay “until the summer of 2012 at the earliest.”

Business owners like the Rocksport Bar and Grill’s Darren Ahlf had already accepted their fate : it was time to start looking elsewhere as the Conner project would demolish the current buildings, from north of Talarico’s on California Ave. s.w. and from California to 42nd Ave s.w. on s.w. Alaska St., to make room for the retail/apartment complex that would rival Mural Apartments just to the south in scale.

Based on the letter, Conner Homes is using Turning Point Realty Advisors to find a new developer who “will be well capitalized, self-financed, understands and executes acquisition, permitting, construction, leasing and management of similar large projects.” It sounds like the project will still happen as it’s been designed, just under the guidance of a new developer and delayed until that fit is found.

Conner’s letter also states the new owners will be given a transitional meeting so they understand the community agreement that resulted in the public benefit package, including plans to mimic the look of nearby California Ave S.W. business fronts, create plazas and walkthroughs between California Ave and 42nd Ave S.W., adding historical West Seattle art to the outer walls and building large sidewalks to encourage foot traffic (among several other features you can read about here ).

“This was not an easy decision,” Conner said in his letter. “As many of you know my long term goal has been to own a piece of the junction long term as an income producing property when I purchased this property eleven years ago.”

This story will be updated.

HUD Condos for Sale in Seattle | The Seattle Condo Blog | Seattle ...

HUD Condos for Sale

Posted July 31 2011 | The Seattle Condo Blog                                                                                        

We don’t see very many HUD available homes for sale in Seattle, and even fewer HUD condos. However, there are now a handful of HUD condos on the market that offer compelling opportunities.

What are HUD Homes?

HUD homes are foreclosed FHA-insured homes that were acquired by HUD. Essentially, they are similar to bank-owned, Fannie Mae and Freddie Mac properties. The only difference is that these properties were secured by a FHA rather than a conventional mortgage loan.

HUD homes are listed in the NWMLS so they’ll be included on virtually every online home search website. However, HUD created a specific site to search for HUD properties throughout the country at www.HUDHomestore.com .

Unlike other bank-owned properties, HUD homes are sold a bit differently. Initially, they are offered through a 10-day sealed bid process that is open to owner-occupant buyers. If there is no winning bid, the process is re-opened and reviewed daily for up to 30 days. If there is still no winning bid, it is then opened up to all buyers including investors.

Offers on HUD properties can only be made through a registered Broker and not all real estate brokerages in the Seattle area are registered. Seattle Condos and Lofts is affiliated with Keller Williams Greater Seattle, one of the few Seattle brokerages approved to list and sell HUD properties.

HUD properties are sold “as-is” so we highly recommend that buyers inspect the property. If you purchase a HUD property through us, we will provide a complimentary home warranty. Additionally, many homes will be eligible for an FHA 203K rehab loan .

HUD may also pay a portion of the closing costs and many buyers may be able to qualify for a FHA loan.

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