Aug. 18, 2008 - Townhomes - Downtown Redmond

Three bedroom townhomes in Downtown Redmond are beating the odds.  When it comes to what is selling and what is not, 3 bedroom townhomes within 1/2 mile of Downtown Redmond ARE selling.  Prices are not holding up at the highest price, and there has been some modest downturn in pricing in the last 4 months, but nothing dramatic.  Not as low as many buyers would like them to go.

If you own a 3 bedroom townhome near downtown Redmond, you have a 90% change of selling it in less than 30 days.

That may not sound like any great shakes...but believe me it is!  Not many home sellers can be confident that their property will receive an offer within 30 days these days.

A closer look at 3 bedroom townhomes near Downtown Redmond:

• There are only 6 for sale and at least two of them are priced incorrectly as they are really 2 bedroom townhomes and not 3 bedroom townhomes
• There are 3 currently in escrow
• 12 have sold in the last 6 months

So if you are priced correctly for what you are and condition is as tip-top as you can get it...you will sell.  List it and it will sell is not common these days.  That kind of confidence is rare.  So if you have a 3 bedroom townhome near Downtown Redmond, know that your market is about as good as it gets these days.

While it may look like a 6 month supply of inventory with 12 sold and 6 for sale, likely only 2 of those are positioned to sell as to condition and price.  Anything not selling is not selling for a reason that the seller can fix...and just isn't fixing.  A truly motivated seller can sell if they have this product in this location.  In this market...that is truly a blessing. 

The only oddity is that some people seem to be paying the same price for a 1 car garage as they are for a 2 car garage.  Or paying the same for a tandem garage as they would for a true 2 car garage.  Using price per square foot methods does not account for garage differences.  That is the only caution to buyers who use price per square foot methods.  The garage is not a consideration unless you make it a consideration...and it is wise to do so.

Nov. 3, 2008 - RE: Townhomes - Downtown Redmond

The market of real estate is changed everywhere in the world and each purchaser wants maximum satisfaction on the money which it will spend and the consideration on the need for customers is an effective way to encourage it to buy the property on a satisfactory amount.

Nov. 3, 2008 - RE: Townhomes - Downtown Redmond

People agree to pay excess money when they do not know the actual price in a particular area and they do not want to let the opportunity go to have that property they like the most.

http://www.1stfix.co.uk

Nov. 3, 2008 - RE: Townhomes - Downtown Redmond

It is not impossible but hard to receive an offer in a short time when some one wants to sell the property in these days  

http://www.money4property.co.uk

Dec. 5, 2008 - RE: Townhomes - Downtown Redmond

It's great to hear prices are holding. I NYC, prices and rentals are still dropping, and it looks like further deterioration in prices is coming for 2009.