I've been working OT on a few deals so have a lot of catching up to do for the blog. Here is some of the latest Seattle condo market news:
First off, The Schuster Group's proposed project on the corner of Elliott and Cedar St (previously named as Bellora 2 at UrbanCondominiums.com in 2007) is heading for Downtown Design Review Board on June 23rd. The proposed project will housed 120 condos and may go as high as 14 stories. The last time I spoke to the developer's office, they were waiting for the market to recover. Construction may not start for a year or two. So, it will be a few years before we see this project. Read more here.
Seattle Times reported that the Stewart and Minor Tower site is up for sale! The lot was originally proposed as a hotel condo with 132 hotel rooms and 180 condos but is now listed for $3,995,000 and marketed for sale as a parking lot, apartment or hotel. UrbanAshley also reported this recently.
Related posts:
No offense, but do realtors really work OT? My understanding was that all realtors pick the profession to work the minimum number of hours, in general.
@Condo buyer
None taken 😉 OT for me is more than 12 hours a day which is bittersweet for obvious reasons. Most full-time Realtors tend to work 30-50 hours a week depending on the season. You may be thinking of part-time Realtors who work fewer hours in general?
Yes, Realtor’s work OT… The best Realtors work 10-15 hours a day. There are few days that I work less than 10 hours, barely with a day off…
There is a downside to the really long hours the coments here suggest realtors put in. Mental sharpness and concentration are markedly reduced when someone works too many hours. A realtor who has been on the job too many hours is going to start making more mistakes — resulting in either missed sales opportunities or a less-than-optimal price.
(As a point of comparison, Federal regulations for truckers require a weekend off after 60 hours of work in a 7-day period. FAA rules for pilots are considerably stricter.)
So remember that if your realtor is really working 15 hours a day with barely a day off then you are paying for the work of a highly fatigued and error-prone person.
@elBee
The trucker example is interesting. I wonder what would happen if we applied FAA regulations to the following industries:
-Lawyers
-Doctors
-Investment Bankers
-Designers
-Engineers
Or teachers who work 8 hours on site, 2-3 hours at home and never ever stop thinking about their students. Add to that the summer job that has to happen so that they still can’t affort the condos you sell.
afford
I was also under the impression that being in real estate meant fewer hours and no over time, but as you replied above that you yourself can actually work a 12 hour day, but I do suppose that if you choose your hours these can all depend on you
Wendy, I have a question that’s actually related to this post … do you know if anything about the planned construction start/end dates of the Bellora-neighboring building has been firmed up since this last post?