Bothell, WA

Bothell Condo Investment Opportunities

There are plenty of Bothell condo investment opportunities available right now and the timing is right to just take the plunge and get your hands on one now. More and more people are looking for condos to rent since there aren’t enough apartments available to fill the rental need. You can supply these people with your own condo to rent and pocket a nice tidy profit by doing so.

Profits are everything

The only way you can make a Bothell condo investment work for you is by firmly establishing ahead of time that you will be heading towards profit. If you have never been involved in a real estate transaction before you’ll need to get some help with this.

Contact your Bothell real estate agent and let him know that you need some expert advice. He’ll let you know who to contact to do some serious number crunching. There are a lot of numbers that need to be examined before coming to a final conclusion that a profit can be made. There are formulas and other mathematical processes that can help you work out the profit ratio from any property you are looking at buying.

Location is important too

When it comes to the right location and type of condo that would be the best investment, your agent is the person you need to turn to. He knows what parts of town have the best areas and which ones to avoid. He’ll have first-hand knowledge about these things and you can trust his judgement.

He’ll also let you know what kind of condo is most wanted in each area. For example, in one area 2 bedroom condos may be the rage while in another part of town 3 bedroom units may be hot. It all depends on the demographics and real estate trends in Bothell.

This Seattle real estate market update is courtesy of Adrian Willanger at Coldwell Banker Danforth& Associates 206 909-7536 helping people buy and sale homes in the Greater Seattle area.

Condos available in Bothell

Related posts:

1. Bothell Condo Investment Opportunities – Are They Worth It? (20.2)
2. What Is The Right Type Of Bothell Condo For You? (12)
3. Why Are so Many People Choosing To Buy A Bothell Condo (11.6)
4. Buying The Right Bothell Condo For A Couple (11.6)
5. Seattle Condo Sales – Why Condos are Hot Right Now (10)

What was the real estate market like at Canyon Ridge Condominiums in 2010? Condo sales values in Canyon Ridge Condominiums were much stronger than the 2011 sales report by 27%. The values of condos in 2010 were very stable due to NO short sales or foreclosures being sold in the whole community. The big difference in price comes in 2011, when the first foreclosure shows up and sold for $105,000 while the median price in 2011 without the foreclosure would have been $202,500... OOOOUCH!

Sales in 2010 had a 26% higher $/SQFT (price per square feet) than 2011. The median sales price was $230,625 with the lowest sale being at $197,000.

There were four sales in 2010 in comparison to only three in 2011, and one being a foreclosure that has brought values down dramatically.

Let's hope that 2012 offers stable or increase condo values as I'm sure homeowners would like to sell, but are not able due to their loan payoff exceeding fair-market value.

Here are a few charts that show the market trend for Canyon Ridge Condominiums:

Canyon Ridge Condominiums Real Estate Market Report - 2010 ($/SQFT)

Canyon Ridge Condominiums Real Estate Market Report - 2010 (Original Price vs. Sold Price)

Canyon Ridge Condominiums: $/SQFT comparison 2010 vs. 2011

Canyon Ridge Condominiums: Original Price vs. Sold Price comparison 2010 vs. 2011

View whats currently for sale in Canyon Ridge Condominiums and if you would like to SELL or BUY in Canyon Ridge, contact us directly.

2011 Market Report Condos for Bothell, Washington

2011 Market Report Condos for Bothell, Washington

Real estate and politics were on a lot of residents minds this last year. Now that the year is over we can report activity, averages and trends.

Bothell real estate activity was brisk based on the available data and the experience of the Phil Leng Team. We have sold many homes in Bothell this past year, with an average market time of 49 days!

However the overall statistics for Bothell are sobering. Which of these two categories do you want to be in? The red category, or the green category? If you use The Phil Leng Team to sell your property this year, we will help you get into the sold category. Let's go Green!

The trend of median sold prices in Bothell is down dramatically from this next graph. Again, I like to emphasize the last quarter of 2011 for more trend significance.


Perhaps the good news in Bothell is that the number of new properties going for sale every month has been dropping over the last year. It looks like the trend of new listings every month is down 46%.


The average Days on Market in Bothell has risen dramatically and this next graph indicates there is a distinct market change in process. If a condo is not priced right it can sit on the market indefinitely.


If you are a serious seller and need to sell, the next graph is good news. The Months supply of inventory in Bothell, Washington has gone down. The graph shows 74% over the year.



Conclusion: If you are a serious seller and need to sell this next year in Bothell, hire the Phil Leng Team. We have the experience and the track record to help you reach your real estate goals this year.

All data for this 2011 Market Report for Bothell, Washington is from the NWMLS and is their property. Accuracy has not been independently verified.

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Here are Canyon Ridge Condominiums Real Estate Market Stats for 2011- Bothell, WA. You would think that a condo community of 75 units would have around 10-20% of sales each year, but 2011 was a slooow year. Canyon Ridge Condominiums only had three sales, two being traditional and one being a foreclosure (REO).

The graphs show that values were all over the board with a foreclosure selling at $105,000 and the other two sales were traditional "non-distressed" selling just shy above $200,000.

Canyon Ridge Condominums Market Report 2011- Days on Market

Canyon Ridge Condominiums Market Report 2011- $/SQFT

Canyon Ridge Condominiums Market Report 2011- Original vs. Sold Prices

Its clear that the real estate market is slow, but its even slower for condominiums and going into 2012... I believe that there will be more foreclosures and short sales to come. I will provide an update at the halfway mark this year (June) and see where prices are and will be as we finish 2012.

If you would like a Free Market Evaluation on your home and would like to see what our team offers, contact us directly. We will contact you within 1 hour.

***Information Deemed Reliable But Cannot Be Guranteed. Information courtesty of the NWMLS***