We think downtown Bellevue is a great place to live, and we’re glad to see that condominium sales are up in our area this year.
One Main Street Condominiums sold 2 more of its 57 homes last week. The remaining 10 homes, a variety of 1-bedroom condos, range from 662 to 880 square feet and are priced at $299,900 to $439,900.
These residences feature air conditioning, German-engineered cabinetry, hardwood floors, and garage parking. The location includes a new retailer, the Italian deli Mercato Stellina, on the main level.
In January, Bellevue Towers sold 13 homes, bringing this urban condominium project to 50 percent sold. The remaining homes include studio and 1-bedroom condos priced from the $300,000s, 2-bedroom residences priced from the $600,000s, and penthouses priced from $2 million. The homes range from 807 to 6,398 square feet.
Bellevue Towers offers concierge service and gives residents access to a variety of amenities, including: a 24,000-square-foot urban garden, a private screening room, a large dining room with a terrace and kitchen, a fitness center, a spa and sun deck, and a terrace with a fireplace and barbecue grill.
Readers, what do you like about living in downtown Bellevue?
Love living in downtown bellevue and currently rent here. However, owning a home is NOT WORTH IT!! Price-to-rent ratio is WAY out of whack. Can live in a way better place by renting vs owning. That is why when we buy within the next year we will choose outside of downtown core. There is absolutely no way to justify buying at these prices when you see what you can buy just outside or what you get when you rent in same location.
AJ, I wouldn’t argue at all. That being said, there will always be a premium for owning/renting here. It is very nice, especially if you work in town or from home (or retired). I hate driving so my car stays in the garage sometimes for weeks at a time. Tough to do that when you get outside of the city.
It will be interesting to see what prices do.
Toad37 and AJ have good points. Personally, I moved to Bellevue in 2005 to nix the Kent to Bellevue commute. My justification was I no longer had to spend 45-50 minutes in traffic…each way….in 2005!! Obviously, it’s a longer commute now. I agree that prices are more spendy for renting and buying.
At that rate I would have spent 3 weeks/year in my car if I lived 10-15 miles out of Bellevue!
I don’t understand the AJ’s argument above.
The price/rent ratio of Bellevue downtown is roughly the same as the whole region, and in some cases I would argue even better.
You can get about 15K annual rent for a 200+K condo now. Tell me where else has a better deal and I would love to jump on it.
Are you against the whole idea of owning a condo (which is understandable) or you are just against downtown Bellevue? The facts don’t add up.
I hear what you’re saying, but I think you’re holding onto a ‘notion’ that prices are so extreme you can’t enjoy the American dream of homeownership? It doesn’t make sense, coupled with the insanely low cost of money! You’re feeding a ‘dead horse’ with rental payments, and, YES, your landlord approves. Prices are LOW, Prices are STABLE, and Prices will be GOING UP! You can blast my opinion, but the writing’s on the wall – jump in, or keep paying someone else’s retirement income. Yes, I’m a Realtor, and I’ve helped many people enjoy the benefit of owning their own home.
The problem is that the nightmare rollercoaster is NOT over and although buying is a good thing, buying and watching your neighbors fall behind, left the houses and condos, and yes condos, it takes you down faster then anything else. And yes, you are a realtor and that your job, but banks, realtors, wall street got us here before.