Seattle and Vancouver's Epic New Condos
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- čas přidán 16. 06. 2024
- As one of 10 agents invited and hosted by the innovative developer Westbank, join Cyrus as he walks you through their 3 new projects in the heart of Vancouver, BC, and 1 in downtown Seattle.
Want to work with the team? Contact us for all your real estate needs at - www.cyrusfieneteam.com/contac...
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Coldwell Banker Bain Seattle
Cyrus Fiene Team
Licensed in Washington State
Amazing, First Light is the best!
The pool will be a showstopper!
Amazing video! So excited for what First Light will do for downtown living
Totally! It towers over everything and the pool will be insane :D
Very informative!
Glad you found it helpful AJ 😁
I think First Light will even further reinforce the condo market as it will pull away the upper echelon of condo buyers and reduce competition between the average condo owners in sky rises downtown.
Lobbies with fazioli pianos….👏
Each custom piano is incredible! Can’t wait to see the glass one they do for First Light!
I wonder what will happen at First Light this year when the building is completed. A few of my friends pre-purchased there but of course have decided not to close given rates and the devaluation of condos in recent years. It seems like the outcomes of Spire, Nexus, Koda and severe safety issues in these markets have just made this situation worse. I feel for those people that will have to walk away from their deposits.... I hope some will decide to follow through with their purchases. Do you think the remaining units in first light will end up going to auction like at olive 8 a few years ago?
Could you kindly elaborate what happy to olive8 8 years ago?
@@chanhenri9172 When Olive8 construction completed most units were still not under purchase agreement, the developer put many of the units on auction to recoup some costs.The results were similar to the prior auctions for condos in the area, with the winning bids averaging 67% of the last listed prices. The higher priced two-bedroom + den units got the best deals, with winning bids averaging 42% below list prices.
Olive8 is the new construction condos just a 3 blocks away on Olive near the convention center.
Thank you for watching!
Yes, it is a bummer for those who pulled out already. If it were my client, I would advise them to see the project through to completion and assign the unit, or sell it if the market changes in their favor. It would be a shame to walk away from the deposit before completion unless they were avoiding the second 5% deposit and absolutely knew they wanted to cancel. It is a complicated situation, and it will be different for everyone. Before purchasing, I have very in-depth conversations with each of my clients who have purchased new construction, discussing the risks of buying so far in advance. There are definitely pros and cons, and it is not for everyone.
Nexus sold exceptionally well, at 92% sold, but closing happened literally as lockdowns started, and that caused about 20% of buyers to cancel. Nexus has about 20 developer units left. Spire and Koda were severely overpriced, which was their main issue to start with, but it certainly cascaded with the lockdowns.
I do not believe any developer units in First Light will go to auction. The developer is quite well established, and the economy for the super-rich has only helped them in the last few years. When Escala and Olive 8 finished in 2008/2009, it coincided with the financial crisis, which was very unfortunate and beat up on all real estate. That said, I don't see it happening this year or next!
Happy to grab a coffee with you and discuss further :)
@@tysoncodes could you help me to assign the a first light 2 beds Conner unit bought in 2019? How can I reach you?
Oakridge Park 🤯
It will be incredible!
may I ask how much is the price of 2 beds of first light?
The two bedrooms left are starting around $1.6M. Let me know if you have any other questions! - Cyrus@CyrusFieneTeam.com
Everything look incredible nevertheless I don’t want to be there when the cascadia subduction zone wakes up, Vancouver, Seattle, Portal and Eureka Cal to the east will be severely impacted….
Agreed - tough to avoid all natural disasters anywhere! Thank you for watching :)